Document:

stt-descriptionofregiste

Exhibit 4.1      DESCRIPTION OF SECURITIES REGISTERED UNDER  SECTION 12 OF THE SECURITIES AND EXCHANGE ACT OF 1934  The following is a description of the general terms and provisions of our securities registered  under Section 12 of the Securities and Exchange Act of 1934, as amended (the “Exchange  Act”). This description is based upon, and is qualified in its entirety by reference to, our Restated  Articles of Organization, as amended (the “Restated Articles”), our By-laws, as amended (the  “By-laws”), the certificates of designation with respect to our preferred stock and the deposit  agreements with respect to our depositary shares, all of which have been filed with the Securities  and Exchange Commission (the “SEC”). For purposes of this description, references to “State  Street,” “we,” “our,” “ours” and “us” relate only to State Street Corporation and not its  subsidiaries.  General  Our Restated Articles authorize the issuance of up to 750,000,000 shares of common stock,  $1.00 par value per share, and up to 3,500,000 shares of preferred stock, without par value, in  one or more series. Of such number of shares of preferred stock,  7,500 shares have been  designated as Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (the  “Series D Preferred Stock”), 7,500 shares have been designated as Fixed-to-Floating Rate Non- Cumulative Perpetual Preferred Stock, Series F (the “Series F Preferred Stock”), 5,000 shares  have been designated as Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock,  Series G (the “Series G Preferred Stock”), and 5,000 shares have been designated as Fixed-to- Floating Rate Non-Cumulative Perpetual Preferred Stock, Series H (the “Series H Preferred  Stock”). We redeemed all of the issued and outstanding shares of our series B preferred stock in  2009, all of the issued and outstanding shares of our series A preferred stock in 2012, all of the  issued and outstanding shares of our series E preferred stock in 2019 and all of the outstanding  shares of our series C preferred stock  in 2020. On January 14, 2021, we announced that we will  redeem 5,000 of the 7,5000 outstanding shares of Series F Preferred Stock with a payable date of  March 15, 2021. All of our outstanding shares of preferred stock are represented by depositary  shares.  One of the effects of authorized but unissued and unreserved shares of capital stock may be to  make it more difficult or to discourage an attempt by a potential acquirer to obtain control of our  company by means of a merger, tender offer, proxy contest or otherwise. The issuance of these  shares of capital stock may defer or prevent a change in control of us without any further  shareholder action.  Our common stock and the depositary shares representing our Series D Preferred Stock and  Series G Preferred Stock are registered under Section 12(b) of the Exchange Act. In this  description, we refer to the Series D Preferred Stock and Series G Preferred Stock collectively as  the “Registered Preferred Stock” and the Series D Preferred Stock, Series F Preferred Stock,  Series G Preferred Stock and Series H Preferred Stock collectively as the “Outstanding  Preferred Stock.”  

 

          2    Description of Common Stock  Dividends and Rights Upon Liquidation  Holders of our common stock are entitled to receive dividends if, as and when declared by our  board of directors out of any funds legally available for dividends. Holders of our common stock  are also entitled, upon our liquidation, and after claims of creditors and the preferences of any  class or series of preferred stock outstanding at the time of liquidation, to receive pro rata our net  assets. We pay dividends on our common stock only if we have paid or provided for all  dividends on our outstanding classes and series of preferred stock, for the then current period  and, in the case of any cumulative preferred stock, all prior periods.   Our ability to declare and pay dividends on our common stock is subject to certain restrictions as  described in the “Business—Supervision and Regulation—Capital Planning, Stress Tests and  Dividends” section of the Annual Report on Form 10-K to which this description has been filed  as an exhibit. We generally are not permitted to purchase shares of our common stock unless full  dividends are paid (or declared, with funds set aside for payment) on all outstanding shares of  preferred stock.  Any outstanding preferred stock has a preference over our common stock with respect to the  payment of dividends and the distribution of assets in the event of our liquidation, winding up or  dissolution, and such other preferences as may be fixed by our board of directors.  Voting Rights  Holders of our common stock are entitled to one vote for each share that they hold and are vested  with all of the voting power except as our board of directors has provided, or may provide in the  future, with respect to preferred stock or any other class or series of preferred stock that the  board of directors may hereafter authorize. See “Description of Preferred Stock” below.  Other Rights  Shares of our common stock are not redeemable, and have no subscription, conversion or  preemptive rights. There are no sinking fund provisions applicable to shares of our common  stock. Outstanding shares of our common stock are non-assessable. Holders of our common  stock are not, and will not be, subject to any liability as stockholders.  Preferred Stock  Our board of directors can determine the rights, preferences and limitations of each series of our  preferred stock without shareholder action. Therefore, without shareholder approval, our board  of directors can authorize the issuance of preferred stock with voting, conversion and other rights  that could dilute the voting power and other rights of holders of our common stock. In addition,  the issuance of preferred stock could impede the completion of a merger, tender offer or other  takeover attempt.  

 

         3    Restrictions on Ownership  The Bank Holding Company Act of 1956, as amended (the “BHC Act”) requires any “bank  holding company,” as defined in the BHC Act, to obtain the approval of the Board of Governors  of the Federal Reserve System (the “Federal Reserve”) prior to the acquisition of 5% or more of  our common stock. Any person, other than a bank holding company, is required to obtain prior  approval of the Federal Reserve to acquire 10% or more of our common stock under the Change  in Bank Control Act of 1978, as amended. Any holder of 25% or more of our common stock, or  that otherwise exercises a “controlling influence” over us, is subject to regulation as a bank  holding company under the BHC Act. Chapter 167A of the General Laws of Massachusetts  requires any “bank holding company,” as defined in Chapter 167A, to obtain prior approval of  the board of bank incorporation before (i) acquiring 5% or more of our common stock, (ii)  acquiring all or substantially all of our assets or (iii) merging or consolidating with us.   Provisions of Our Restated Articles and By-laws and Massachusetts Law That May  Have Anti-Takeover Effects  Certain provisions of our By-laws are designed to make it more difficult for an outsider who  does not have the support of our board of directors to accomplish a takeover. These provisions:  (1) provide that only our board of directors or the Chairman of the board of directors, or one or  more shareholders holding at least 25 percent of all the votes entitled to be cast on any issue to  be considered at a proposed special meeting, have the power to call a special meeting of  shareholders; (2) specify that action by shareholders without a meeting requires the written  approval of all shareholders entitled to vote on the action; and (3) provide that nominations and  matters for shareholder action may only be made by advance written notice. While the foregoing  provisions will not necessarily prevent take-over attempts, they may discourage an attempt to  obtain control of us in a transaction not approved by our board of directors by making it more  difficult for a third party to obtain control in a short time and impose its will on our remaining  shareholders.  Our Restated Articles provide that none of our directors will be liable to us or our shareholders  for monetary damages for any breach of fiduciary duty, except to the extent such exculpation  from liability is not permitted under Massachusetts law. This provision does not prevent  shareholders from obtaining injunctive or other equitable relief against directors nor does it  shield directors from liability under federal or state securities laws.   We are covered by the provisions of Chapter 110F of the Massachusetts General Laws, the so- called Business Combination Statute. Under Chapter 110F, a Massachusetts corporation with  more than 200 shareholders may not engage in a “business combination” with an “interested  stockholder” for a period of three years after the date of the transaction in which the person  becomes an interested stockholder, unless (i) the interested stockholder obtains the approval of  the board of directors prior to becoming an interested stockholder, (ii) the interested stockholder  acquires 90% of the outstanding voting stock of the corporation (excluding shares held by certain  affiliates of the corporation) at the time it becomes an interested stockholder or (iii) the business  combination is approved by both the board of directors and the holders of two-thirds of the  outstanding voting stock of the corporation (excluding shares held by the interested stockholder).  

 

          4    An “interested stockholder” is a person who, together with affiliates and associates, owns (or at  any time within the prior three years did own) 5% or more of the outstanding voting stock of the  corporation. A “business combination” includes a merger, a stock or asset sale, and other  transactions resulting in a financial benefit to the interested stockholder.   Our By-laws provide that the provisions of Chapter 110D of the Massachusetts General Laws,  the so-called “Control Share Statute,” do not apply to us. However, we may in the future become  subject to the statute if our board of directors votes to amend our By-laws so as to make them  applicable to us. In general, if this statute were applicable it would provide that any person or  entity that acquired 20% or more of our outstanding voting stock could not vote such stock  unless our other shareholders were to so authorize such voting.  Section 8.06(b) of the Massachusetts Business Corporation Act (the “MBCA”) provides that  unless a corporation decides otherwise, the terms of directors of a public Massachusetts  corporation shall be staggered by dividing the directors into three groups, as nearly equal in  number as possible, with only one group of directors being elected each year. Sections 8.06(d)  and (e) of the MBCA provide that when directors are so classified, (i) shareholders may remove  directors only for cause, (ii) the number of directors shall be fixed only by the vote of the board  of directors, (iii) vacancies and newly created directorships shall be filled solely by the  affirmative vote of a majority of the remaining directors, and (iv) a decrease in the number of  directors will not shorten the term of any incumbent director. Our board of directors opted out of  this staggered board of directors requirement, and all of our directors currently serve for one-year  terms and are elected annually. Under Section 8.06(c)(2) of the MBCA, our board of directors  may opt into the staggered board of directors requirements of Section 8.06(b) and the application  of Sections 8.06(d) and (e). If our board of directors opts into this structure, these provisions are  likely to increase the time required for our shareholders to change the composition of the board  of directors. For example, in general, at least two annual meetings would be necessary for  shareholders to effect a change in a majority of the members of our board of directors. The  provision for a classified board could prevent a party who acquires control of a large portion of  our outstanding common stock from obtaining control of our board of directors until our second  annual shareholders meeting following the date the acquirer obtains the stock interest. The  classified board provision could have the effect of discouraging a potential acquirer from making  a tender offer or otherwise attempting to obtain control of us and could increase the likelihood  that incumbent directors will retain their positions.  Description of Preferred Stock  A depositary is the sole holder of each series of Outstanding Preferred Stock, as described under  “Description of Depositary Shares” below, and all references in this description to the holders of  a series of the Outstanding Preferred Stock shall mean the depositary. However, the holders of  depositary shares are entitled, through the depositary, to exercise the rights and preferences of  the holders of the Outstanding Preferred Stock, as described under “Description of Depositary  Shares.”  

 

         5    We may from time to time, without notice to or the consent of holders of the Registered  Preferred Stock, issue additional shares of preferred stock that rank equally with or junior to the  Registered Preferred Stock.  Ranking  Each series of Registered Preferred Stock ranks, with respect to the payment of dividends and the  distribution of assets upon voluntary or involuntary liquidation, dissolution and winding up of  the affairs of State Street:  • senior to our common stock and any other series of our junior stock that may be issued in  the future;  • equally with each other series of Outstanding Preferred Stock; and  • equally with each other series of our preferred stock that by its terms is expressly stated  to be on parity with the Registered Preferred Stock, and junior to any preferred stock that  by its terms is expressly stated to be senior to the Registered Preferred Stock.  In addition, we are generally able to pay dividends and distributions upon the voluntary or  involuntary liquidation, dissolution or winding up of the affairs of State Street only out of  lawfully available assets for such payment (i.e., after taking account of all indebtedness and other  non-equity claims). The Registered Preferred Stock is nonassessable. Holders of Registered  Preferred Stock do not have preemptive or subscription rights to acquire more capital stock of  State Street.  The Registered Preferred Stock is not convertible into, or exchangeable for, shares of any other  class or series of stock or other securities of State Street. The Registered Preferred Stock has no  stated maturity and is not subject to any sinking fund or other obligation of State Street to  redeem or repurchase the Registered Preferred Stock.  Each series of Outstanding Preferred Stock ranks equally with each series of Registered  Preferred Stock as to dividends and distributions on liquidation and includes the same provisions  with respect to restrictions on declaration and payment of dividends and voting rights as apply to  each series of Registered Preferred Stock.  Holders of Series D Preferred Stock are entitled to receive non-cumulative quarterly dividends  when, as and if declared by our board of directors (or a duly authorized committee of the board),  (1) at a rate of 5.90% per annum to but excluding March 15, 2024 and (2) thereafter at a rate per  annum equal to three-month LIBOR plus 3.108%. Holders of Series F Preferred Stock are  entitled to receive non-cumulative dividends when, as and if declared by our board of directors  (or a duly authorized committee of the board), (1) semi-annually at a rate of 5.250% per annum  to but excluding September 15, 2020 and (2) thereafter quarterly at a rate per annum equal to  three-month LIBOR plus 3.597%. Holders of Series G Preferred Stock are entitled to receive  non-cumulative quarterly dividends when, as and if declared by our board of directors (or a duly  authorized committee of the board), (1) at a rate of 5.350% per annum to but excluding March  15, 2026 and (2) thereafter at a rate per annum equal to three-month LIBOR plus 3.709%.  Holders of Series H Preferred Stock are entitled to receive non-cumulative dividends when, as  

 

          6    and if declared by our board of directors (or a duly authorized committee of the board), (1) semi- annually at a rate of 5.625% per annum to but excluding December 15, 2023 and (2) thereafter  quarterly at a rate per annum equal to three-month LIBOR plus 2.539%.  For additional detail on the terms of our existing series of preferred stock, you also should refer  to the respective certificate of designation for each series, each of which is part of our Restated  Articles and on file with the SEC.  Dividends  Dividends on shares of the Registered Preferred Stock are not mandatory and are not cumulative.  Holders of the Registered Preferred Stock are entitled to receive, when, as and if declared by our  board of directors or any duly authorized committee of the board out of legally available assets,  non-cumulative cash dividends as follows:  • Dividends on the Series D Preferred Stock are paid quarterly in arrears on the 15th day of  March, June, September and December. From the date of issuance to, but excluding,  March 15, 2024, dividends are calculated at an annual rate of 5.90%, and from, and  including, March 15, 2024, dividends are calculated at an annual rate equal to three- month LIBOR plus 3.108%, in each case on the liquidation preference of $100,000 per  share of Series D Preferred Stock (equivalent to $25 per depositary share).  • Dividends on the Series G Preferred Stock are paid quarterly in arrears on the 15th day of  March, June, September and December. From the date of issuance to, but excluding,  March 15, 2026, dividends are calculated at an annual rate of 5.350%, and from, and  including, March 15, 2026, dividends are calculated at an annual rate equal to three- month LIBOR plus 3.709%, in each case on the liquidation preference of $100,000 per  share of Series G Preferred Stock (equivalent to $25 per depositary share).  For a series of Registered Preferred Stock that calculates dividends at a fixed rate during one  period of time and at a floating rate during another, the period during which such series  calculates dividends at a fixed rate is referred to herein as the “fixed rate period”, and the period  during which such series calculates dividends at a floating rate is referred to herein as the  “floating rate period.”  If our board of directors or a duly authorized committee of the board has not declared a dividend  on a series of Registered Preferred Stock before the dividend payment date for any dividend  period, such dividend shall not be cumulative and shall not be payable for such dividend period,  and we will have no obligation to pay dividends for such dividend period, whether or not  dividends on such series of Registered Preferred Stock are declared for any future dividend  period. A “dividend period” with respect to a series of Registered Preferred Stock means the  period from, and including, a dividend payment date on such series to, but excluding, the next  succeeding dividend payment date.   Notwithstanding the foregoing, dividends on the Registered Preferred Stock shall not be  declared, paid or set aside for payment to the extent such act would cause us to fail to comply  with laws and regulations applicable thereto, including applicable capital adequacy guidelines.  

 

         7    With respect to the Registered Preferred Stock, during their fixed rate period dividends,  including dividends payable for any partial dividend period, are calculated on the basis of a 360- day year of twelve 30-day months, and during their floating rate period dividends, including  dividends payable for any partial dividend period, are calculated on the basis of a 360-day year  and the actual number of days elapsed.  Dividends on any Registered Preferred Stock to be redeemed cease to accrue after the  redemption date, as described below under “—Redemption,” unless we default in the payment of  the redemption price of the shares of the Registered Preferred Stock called for redemption.  We pay dividends to the holders of record of shares of the Registered Preferred Stock as they  appear on our stock register on each record date, which is the 15th calendar day before the  related dividend payment date (provided, however, if any such date is not a business day then the  record date will be the next succeeding day that is a business day) or, such other date as  determined by our board of directors or any duly authorized committee of the board.  Generally, if any date on which dividends would otherwise be payable on a series of Registered  Preferred Stock is not a business day, then payment of any dividend otherwise payable on such  date will be made on the next succeeding business day, without interest or other payment in  respect of such delay. However, if after the first day of such series’ floating rate period any date  on which dividends would otherwise be payable is not a business day, then payment of any  dividend otherwise payable on such date will be made on the next succeeding business day  unless that day falls in the next calendar month, in which case payment of any dividend  otherwise payable on such date will be made on the immediately preceding business day, and  such dividends will be payable on, and calculated to, but excluding, the actual payment date.  “Business day” means, for dividends payable during the fixed rate period, any day, other than a  Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are  authorized or required by law or regulation to close in New York, New York or Boston,  Massachusetts, and for dividends payable during the floating rate period, any day that would be  considered a business day during the fixed rate period that is also a London banking day (as  defined below).  For the purposes of calculating any dividend on a series of Registered Preferred Stock during  such series’ floating rate period:  “three-month LIBOR” means, for any LIBOR determination date, the offered rate for deposits in  U.S. dollars having a maturity of three months that appears on the Designated LIBOR Page as of  11:00 a.m., London time, on such LIBOR determination date. If such rate does not appear on  such page at such time, the certificates of designation for the Series D Preferred Stock and Series  G Preferred Stock provide alternative methods of calculating the dividend rate for the applicable  dividend period. All percentages used in or resulting from any calculation of three-month LIBOR  are rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with  .000005% rounded up to .00001%. The determination of three-month LIBOR for each relevant  dividend period by the calculation agent is (in the absence of manifest error) final and binding;  

 

          8    “calculation agent” means State Street Bank and Trust Company, or any other successor  appointed by us, acting as calculation agent;  “LIBOR determination date” means the second London banking day immediately preceding the  first day of the relevant dividend period;  “London banking day” means any day on which commercial banks and foreign exchange  markets settle payments in London; and  “Designated LIBOR Page” means the display on Reuters, or any successor service, on page  LIBOR01, or any other page as may replace that page on that service, for the purpose of  displaying the London Interbank rates for U.S. dollars.  Dividends on shares of the Registered Preferred Stock are not cumulative. Accordingly, if our  board of directors or a duly authorized committee of the board does not declare a dividend on a  series of Registered Preferred Stock payable in respect of any dividend period before the related  dividend payment date, such dividend will not be payable and we will have no obligation to pay,  and the holders of such series of Registered Preferred Stock shall have no right to receive,  dividends for such dividend period on the dividend payment date or at any future time, or interest  with respect to such dividends, whether or not dividends on such series of Registered Preferred  Stock are declared for any future dividend period.  The terms of each series of Registered Preferred Stock provide that, so long as any share of such  series remains outstanding,  (1) no dividend shall be declared or paid or set aside for payment and no distribution shall  be declared or made or set aside for payment on any junior stock (other than a dividend  payable solely in junior stock or any dividend or distribution of capital stock or rights to  acquire capital stock of State Street in connection with a shareholders’ rights plan or any  redemption or repurchase of capital stock or rights to acquire capital stock under any such  plan); and  (2) no shares of junior stock shall be repurchased, redeemed or otherwise acquired for  consideration by us, directly or indirectly (other than (a) as a result of a reclassification of  junior stock for or into other junior stock, (b) the exchange or conversion of one share of  junior stock for or into another share of junior stock, (c) through the use of the proceeds  of a substantially contemporaneous sale of other shares of junior stock, (d) purchases,  redemptions or other acquisitions of shares of junior stock pursuant to any employment  contract, benefit plan or other similar arrangement with or for the benefit of employees,  officers, directors or consultants, (e) purchases of shares of junior stock pursuant to a  contractually binding requirement to buy junior stock existing prior to or during the most  recent preceding dividend period for which the full dividends for the then most recently  completed dividend period on all outstanding shares of such series have been declared  and paid or declared and a sum sufficient for the payment thereof has been set aside,  including under a contractually binding stock repurchase plan, or (f) the purchase of  fractional interests in shares of junior stock pursuant to the conversion or exchange  

 

         9    provisions of such stock or the security being converted or exchanged), nor shall any  monies be paid to or made available for a sinking fund for the redemption of any such  securities by us;  unless, in each case, the dividends for the then most recently completed dividend period on all  outstanding shares of such series have been declared and paid in full or declared and a sum  sufficient for the payment in full thereof has been set aside.  As used in this description, “junior stock” means, with respect to a series of Registered Preferred  Stock, our common stock and any other class or series of stock of State Street hereafter  authorized over which such Registered Preferred Stock has preference or priority in the payment  of dividends or in the distribution of assets on any voluntary or involuntary liquidation,  dissolution or winding up of the affairs of State Street.  When dividends are not paid in full upon the shares of a series of Registered Preferred Stock and  any parity stock, all dividends declared upon the shares of such series of Registered Preferred  Stock and any such parity stock will be declared on a proportional basis so that the amount of  dividends declared per share will bear to each other the same ratio as the ratio between the then- current dividends due on the shares of the Registered Preferred Stock and (i) in the case of any  series of parity stock that is non-cumulative preferred stock, the aggregate of the current and  unpaid dividends due on such series of preferred stock, and (ii) in the case of any series of parity  stock that is cumulative preferred stock, the aggregate of the current and accumulated and unpaid  dividends due on such series of preferred stock.  As used in this description, “parity stock” means, with respect to a series of Registered Preferred  Stock, any other class or series of stock of State Street that ranks equally with such Registered  Preferred Stock in the payment of dividends and in the distribution of assets on any voluntary or  involuntary liquidation, dissolution or winding up of the affairs of State Street.  No interest will be payable in respect of any declared but unpaid dividend payment on shares of  Registered Preferred Stock that is paid after the relevant dividend payment date for such  dividend period.  If our board of directors determines not to pay any dividend or a full dividend on a series of  Registered Preferred Stock on a dividend payment date, we will provide, or cause to be provided,  written notice to the holders of such Registered Preferred Stock prior to such date.  Subject to the foregoing, and not otherwise, such dividends (payable in cash, stock or otherwise),  as may be determined by our board of directors or any duly authorized committee of the board,  may be declared and paid on our common stock and any other stock ranking equally with or  junior to the Registered Preferred Stock from time to time out of any assets legally available for  such payment, and the holders of Registered Preferred Stock shall not be entitled to participate in  any such dividend.  

 

          10    Our ability to pay dividends on our preferred stock is subject to certain restrictions as described  in the “Business—Supervision and Regulation—Capital Planning, Stress Tests and Dividends”  section of the Annual Report on Form 10-K to which this description has been filed as an exhibit.  Liquidation Rights  Upon any voluntary or involuntary liquidation, dissolution or winding up of the affairs of State  Street, holders of each series of Registered Preferred Stock are entitled to receive out of assets of  State Street legally available for distribution to shareholders, after satisfaction of liabilities to  creditors and subject to the rights of holders of any securities ranking senior to such series of  Registered Preferred Stock, before any distribution of assets is made to holders of common stock  or of any of our other shares of stock ranking junior as to such a distribution to the shares of  Registered Preferred Stock, a liquidating distribution in the amount of the liquidation preference  of $100,000 per share (equivalent to $25 per depositary share) plus declared and unpaid  dividends, without accumulation of any undeclared dividends. Holders of the Registered  Preferred Stock will not be entitled to any other amounts from us after they have received their  full liquidating distribution.  In any such distribution, if the assets of State Street are not sufficient to pay the liquidation  preferences plus declared and unpaid dividends in full to all holders of a series of Registered  Preferred Stock and all holders of any other shares of our stock ranking equally as to such  distribution with such Registered Preferred Stock, the amounts paid to the holders of such  Registered Preferred Stock and to the holders of all such other parity stock will be paid pro rata  in accordance with the respective aggregate liquidating distribution owed to those holders. If the  liquidation preference plus declared and unpaid dividends has been paid in full to all holders of  Registered Preferred Stock and any other shares of our stock ranking equally as to the liquidation  distribution, the holders of our junior stock shall be entitled to receive all remaining assets of  State Street according to their respective rights and preferences.  For purposes of this section, the merger, consolidation or other business combination transaction  of State Street into or with any other entity, including a merger, consolidation or other business  combination transaction in which the holders of Registered Preferred Stock receive cash,  securities or other property for their shares, or the sale, lease or exchange of all or substantially  all of the property and assets of State Street for cash, securities or other property, shall not  constitute a voluntary or involuntary liquidation, dissolution or winding up of the affairs of State  Street.  The shares of Registered Preferred Stock may be fully subordinated to interests held by the U.S.  government in the event that we enter into a receivership, insolvency, liquidation or similar  proceeding.  Because we are a bank holding company, our rights, the rights of our creditors and the rights of  our shareholders, including the holders of Registered Preferred Stock, to participate in a  distribution of the assets of any subsidiary upon the subsidiary’s liquidation or recapitalization  may be subject to the prior claims of the subsidiary’s creditors except to the extent that we may  ourselves be a creditor with recognized claims against the subsidiary.  

 

         11    Redemption  The Registered Preferred Stock is not subject to any mandatory redemption, sinking fund or  other similar provision. Except as described below, the Registered Preferred Stock is not  redeemable prior to the applicable “Redemption Trigger Date.” The Redemption Trigger Dates  for the Series D Preferred Stock and Series G Preferred Stock are March 15, 2024 and March 15,  2026, respectively. On the Redemption Trigger Date for a series of Registered Preferred Stock,  and on any dividend payment date for such series thereafter, shares of such Registered Preferred  Stock are redeemable at our option, in whole or in part, at a redemption price equal to $100,000  per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends,  without accumulation of any undeclared dividends. Holders of Registered Preferred Stock have  no right to require the redemption or repurchase of the Registered Preferred Stock. Dividends  will cease to accrue after the redemption date. Under the Federal Reserve’s risk-based capital  guidelines applicable to bank holding companies, any redemption of a series of Registered  Preferred Stock is subject to prior approval of the Federal Reserve.  Notwithstanding the foregoing, prior to the applicable Redemption Trigger Date, within 90 days  of our good faith determination that an event has occurred that would constitute a regulatory  capital treatment event (as defined below), we may, at our option, subject to the approval of the  Federal Reserve, provide notice of our intent to redeem in accordance with the procedures  described below, and subsequently redeem, all (but not less than all) of the shares of a series of  Registered Preferred Stock at the time outstanding at a redemption price equal to $100,000 per  share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without  accumulation of any undeclared dividends.  A “regulatory capital treatment event” means, with respect to a series of Registered Preferred  Stock and subject to the terms of the applicable certificate of designation, our determination, in  good faith, that, as a result of any  • amendment to, clarification of or change in (including any announced prospective  amendment to, clarification of or change in) the laws or regulations or policies of the  United States or any political subdivision of or in the United States that is enacted or  announced or that becomes effective after the initial issuance of any share of such series  of Registered Preferred Stock;  • proposed amendment to or change in those laws or regulations or policies that is  announced or becomes effective after the initial issuance of any share of such series of  Registered Preferred Stock; or  • official administrative decision or judicial decision or administrative action or other  official pronouncement interpreting or applying those laws or regulations or policies that  is announced or that becomes effective after the initial issuance of any share of such  series of Registered Preferred Stock,  there is more than an insubstantial risk that we will not be entitled to treat the full liquidation  value of all shares of such series of Registered Preferred Stock then outstanding as additional tier  1 capital (or its equivalent) for purposes of the capital adequacy guidelines or regulations of the  

 

          12    appropriate federal banking agency, as then in effect and applicable, for as long as any share of  Registered Preferred Stock is outstanding.  If shares of the Registered Preferred Stock are to be redeemed, the notice of redemption shall be  given to the holders of record of the Registered Preferred Stock to be redeemed, either by first  class mail, postage prepaid, addressed to the holders of record of such shares to be redeemed at  their respective last addresses appearing on our stock register or transmitted by such other  method approved by the depositary, in its reasonable discretion, not less than 30 days nor more  than 60 days prior to the date fixed for redemption thereof (provided that, if the depositary shares  representing such Registered Preferred Stock are held in book-entry form through The  Depository Trust Company (“DTC”) (or a successor securities depositary), we may give such  notice in any manner permitted by DTC (or such successor)). Each notice of redemption will  include a statement setting forth: (1) the redemption date; (2) the number and series of shares of  Registered Preferred Stock to be redeemed and, if less than all the shares held by such holder are  to be redeemed, the number of such shares to be redeemed from such holder (or the method of  determining such number); (3) the redemption price; (4) the place or places where the certificates  evidencing shares of such Registered Preferred Stock are to be surrendered for payment of the  redemption price; and (5) that dividend rights with respect to the shares to be redeemed will  cease on the redemption date. If notice of redemption of any shares of Registered Preferred Stock  has been duly given and if on or before the redemption date the funds necessary for such  redemption have been set aside by us for the benefit of the holders of any shares of Registered  Preferred Stock so called for redemption, then, on and after the redemption date, dividend rights  with respect to such shares of Registered Preferred Stock will cease, such shares of Registered  Preferred Stock shall no longer be deemed outstanding and all rights of the holders of such  shares will terminate, except the right to receive the redemption price. See “Description of  Depositary Shares” below for information about redemption of the depositary shares relating to  the Registered Preferred Stock.  In case of any redemption of only part of the outstanding shares of a series of Registered  Preferred Stock, the shares to be redeemed shall be selected either pro rata or by lot or in such  other manner as our board of directors or any duly authorized committee of the board of directors  determines to be fair and equitable.  Under the Federal Reserve’s risk-based capital guidelines applicable to bank holding companies,  any redemption of the Registered Preferred Stock is subject to prior approval of the Federal  Reserve.  Voting Rights  Except as provided below, the holders of the Registered Preferred Stock have no voting rights.  Whenever dividends on a series of Registered Preferred Stock, or any other class or series of  preferred stock that ranks on parity with the Registered Preferred Stock as to payment of  dividends, and upon which equivalent voting rights have been conferred and are exercisable,  have not been paid, or declared and set aside for payment, in an aggregate amount equal to six or  more dividend periods, whether or not for consecutive dividend periods (a “Nonpayment”), the  

 

         13    holders of such series of Registered Preferred Stock, together with holders of any other series of  our preferred stock that ranks on parity with the Registered Preferred Stock as to payment of  dividends with equivalent voting rights, are entitled to vote separately as a single class for the  election of a total of two additional members of our board of directors (the “Preferred  Directors”), provided that the election of any such directors shall not cause us to violate the  corporate governance requirement of the New York Stock Exchange (or any other exchange on  which our securities may be listed) that listed companies must have a majority of independent  directors and provided further that our board of directors shall at no time include more than two  Preferred Directors.  In that event, the number of directors on our board of directors shall automatically increase by  two and, at the request of any holder of such series of Registered Preferred Stock, a special  meeting of the holders of such series of Registered Preferred Stock and any other class or series  of preferred stock that ranks on parity with such Registered Preferred Stock as to payment of  dividends and for which dividends have not been paid, shall be called for the election of the two  additional directors of our board of directors (unless such request is received less than 90 days  before the date fixed for the next annual or special meeting of the shareholders, in which event  such election shall be held at such next annual or special meeting of shareholders), followed by  another such election at each subsequent annual meeting. These voting rights will continue until  full dividends, including any declared and unpaid dividends, have been paid regularly on the  shares of such series of Registered Preferred Stock and any other class or series of preferred  stock that ranks on parity with such Registered Preferred Stock as to payment of dividends for at  least four consecutive dividend periods following the Nonpayment.  If and when full dividends have been regularly paid for at least four consecutive dividend periods  following a Nonpayment on such series of Registered Preferred Stock and any other class or  series of preferred stock that ranks on parity with such Registered Preferred Stock as to payment  of dividends, the holders of such series of Registered Preferred Stock shall be divested of the  foregoing voting rights (subject to revesting in the event of any subsequent Nonpayment) and the  term of office of each Preferred Director so elected shall terminate and the number of directors  on our board of directors shall automatically decrease by two. Any Preferred Director may be  removed at any time without cause by the holders of record of a majority of the outstanding  shares of such series of Registered Preferred Stock (together with holders of any other series of  our preferred stock that ranks on parity with such Registered Preferred Stock as to payment of  dividends with equivalent voting rights, whether or not the holders of such preferred stock would  be entitled to vote for the election of directors if such default in dividends did not exist) when  they have the voting rights described above. So long as a Nonpayment shall continue, any  vacancy in the office of a Preferred Director (other than prior to the initial election of the  Preferred Directors) may be filled by the written consent of the Preferred Director remaining in  office, or if none remains in office, by a vote of the holders of a majority of the outstanding  shares of such series of Registered Preferred Stock (together with holders of any other series of  our preferred stock that ranks on parity with such Registered Preferred Stock as to payment of  dividends with equivalent voting rights, whether or not the holders of such preferred stock would  be entitled to vote for the election of directors if such default in dividends did not exist) to serve  until the next annual meeting of shareholders.  

 

          14    If the holders of a series of Registered Preferred Stock become entitled to vote for the election of  directors, such Registered Preferred Stock may be considered a class of voting securities under  interpretations adopted by the Federal Reserve. As a result, certain holders of such Registered  Preferred Stock may become subject to regulations under the BHC Act and/or certain  acquisitions of such Registered Preferred Stock may be subject to prior approval of the Federal  Reserve.  So long as any shares of a series of Registered Preferred Stock remain outstanding:  • the affirmative vote or consent of the holders of at least two-thirds of all of the shares of  such series of Registered Preferred Stock at the time outstanding, voting separately as a  single class, shall be required to amend the provisions of our Restated Articles (including  the certificate of designation of such series of Registered Preferred Stock or any other  series of preferred stock) or the By-laws so as to materially and adversely affect the  powers, preferences, privileges or rights of such series of Registered Preferred Stock,  taken as a whole; provided, however, that any increase in the amount of the authorized or  issued shares of a series of Registered Preferred Stock or authorized preferred stock or  the creation and issuance, or an increase in the authorized or issued amount, of other  series of preferred stock ranking equally with and/or junior to such series of Registered  Preferred Stock with respect to the payment of dividends (whether such dividends are  cumulative or non-cumulative) and/or the distribution of assets upon voluntary or  involuntary liquidation, dissolution or winding up of the affairs of State Street will not be  deemed to adversely affect the powers, preferences, privileges or rights of such series of  Registered Preferred Stock; and  • the affirmative vote or consent of the holders of at least two-thirds of all of the shares of  such series of Registered Preferred Stock at the time outstanding, voting separately as a  single class, shall be required to issue, authorize or increase the authorized amount of, or  to issue or authorize any obligation or security convertible into or evidencing the right to  purchase, any class or series of stock ranking senior to such series of Registered Preferred  Stock and all other parity stock with respect to payment of dividends or the distribution  of assets upon liquidation, dissolution or winding up of State Street.  The foregoing voting provisions will also not apply if, at or prior to the time when the act with  respect to which such vote would otherwise be required, all outstanding shares of such series of  Registered Preferred Stock shall have been redeemed or called for redemption upon proper  notice and sufficient funds shall have been set aside by us for the benefit of the holders of such  series of Registered Preferred Stock to effect such redemption.  The holders of a series of Registered Preferred Stock are not be entitled to vote as a separate  class or series or voting group with respect to any plan of merger or share exchange solely as a  result of Section 11.04(6) of the MBCA. Section 11.04(6) of the MBCA provides that, unless a  corporation expressly provides otherwise in its articles of organization, shares of capital stock are  in some circumstances entitled to vote as a separate class or series or voting group on a plan of  merger or share exchange, if the plan of merger or share exchange contains a provision that, if  contained in a proposed amendment to the articles of organization of a corporation, would entitle  

 

         15    such class or series to vote as a separate voting group on the proposed amendment under Section  10.04 of the MBCA. Section 10.04 of the MBCA entitles the holders of capital stock of a  corporation to vote as a separate class or series under certain circumstances. The certificates of  designation creating the Registered Preferred Stock, which are part of our Restated Articles,  expressly provide that Section 11.04(6) of the MBCA (and any similar successor provision of the  MBCA) is inapplicable to the Registered Preferred Stock.  Preemptive and Conversion Rights  The holders of the Registered Preferred Stock do not have any preemptive or conversion rights.  Additional Classes or Series of Stock  We have the right to create and issue additional classes or series of stock ranking equally with or  junior to each series of Registered Preferred Stock as to dividends and/or distribution of assets  upon our liquidation, dissolution or winding up without the consent of the holders of such series  of Registered Preferred Stock or the holders of the related depositary shares. We may create and  issue additional shares of preferred stock senior to a series of Registered Preferred Stock as to  dividends and/or distribution of assets upon our liquidation, dissolution or winding up with the  requisite consent of the holders of such Registered Preferred Stock and our parity stock entitled  to vote thereon.  Description of Depositary Shares  In this description, references to “holders” of depositary shares mean those who own depositary  shares registered in their own names, on the books that we or the depositary maintain for this  purpose, and not indirect holders who own beneficial interests in depositary shares registered in  street name or issued in book-entry form through DTC.  This description summarizes specific terms and provisions of the depositary shares relating to  our Registered Preferred Stock. As described above under “Description of Preferred Stock,” we  have issued fractional interests in shares of preferred stock in the form of depositary shares. Each  depositary share represents a 1/4,000th ownership interest in a share of Registered Preferred  Stock and is evidenced by a depositary receipt. The shares of Registered Preferred Stock  represented by depositary shares are deposited under a deposit agreement among State Street,  American Stock Transfer & Trust Company, LLC, as depositary, and the holders from time to  time of the depositary receipts evidencing the depositary shares. Subject to the terms of the  applicable deposit agreement, each holder of a depositary share is entitled, through the  depositary, in proportion to the applicable fraction of a share of the Registered Preferred Stock  represented by such depositary share, to all the rights and preferences of the Registered Preferred  Stock represented thereby (including dividend, voting, redemption and liquidation rights).  Immediately following the issuance of each series of Registered Preferred Stock, we deposited  the shares of such Registered Preferred Stock with the depositary, which then issued depositary  receipts evidencing the depositary shares to the initial holders thereof. Copies of the deposit  agreements and the forms of depositary receipt are on file with the SEC.  

 

          16    Dividends and Other Distributions  The depositary distributes all cash dividends or other cash distributions, if any, received in  respect of the preferred stock underlying the depositary shares to the record holders of depositary  shares in proportion to the numbers of depositary shares owned by those holders on the relevant  record date. The relevant record date for depositary shares is the same date as the record date for  the preferred stock.  If there is a distribution other than in cash, rights, preferences or privileges the depositary will  distribute property received by it to the record holders of depositary shares, unless the depositary  determines, in consultation with us, that it is not feasible to make such distribution. If this occurs,  the depositary may, with our approval, adopt another method for the distribution, including  selling the property (at a public or private sale) in a commercially reasonable manner and  distributing the net proceeds from the sale to the holders.  The amounts distributed to holders of depositary shares will be reduced by any amounts required  to be withheld by the depositary or by us on account of taxes or other governmental charges.  Redemption of Depositary Shares  If we redeem shares of a series of Registered Preferred Stock represented by depositary shares,  the depositary shares will be redeemed from the proceeds received by the depositary resulting  from the redemption of such Registered Preferred Stock held by the depositary. The redemption  price per depositary share will be equal to 1/4,000th of the redemption price per share payable  with respect to such series of Registered Preferred Stock (or $25 per depositary share), plus any  declared and unpaid dividends, without accumulation of any undeclared dividends.  Whenever we redeem shares of a series of Registered Preferred Stock held by the depositary, the  depositary will redeem, as of the same redemption date, the number of depositary shares  representing shares of such series of Registered Preferred Stock so redeemed. In case of any  redemption of less than all of the outstanding depositary shares, the depositary shares to be  redeemed will be selected pro rata by lot or in such other manner as our board of directors or any  duly authorized committee of the board may determine to be fair and equitable. The depositary  will mail by first class mail, postage prepaid (or otherwise transmit by an authorized method)  notice of redemption to record holders of the depositary receipts not less than 30 and not more  than 60 days prior to the date fixed for redemption of the Registered Preferred Stock and the  related depositary shares.  Voting the Registered Preferred Stock  Because each depositary share represents a 1/4,000th interest in a share of the Registered  Preferred Stock, holders of depositary receipts are entitled to a 1/4,000th of a vote per depositary  share under those limited circumstances in which holders of the Registered Preferred Stock are  entitled to a vote.  

 

         17    When the depositary receives notice of any meeting at which the holders of a series of Registered  Preferred Stock are entitled to vote, the depositary will mail (or otherwise transmit by an  authorized method) the information contained in the notice to the record holders of the  depositary shares relating to such Registered Preferred Stock. Each record holder of the  depositary shares on the record date, which is the same date as the record date for the Registered  Preferred Stock, may instruct the depositary to vote the amount of the Registered Preferred Stock  represented by the holder’s depositary shares. To the extent possible, the depositary will vote the  amount of the Registered Preferred Stock represented by depositary shares in accordance with  the instructions it receives. We will agree to take all reasonable actions that may be deemed  necessary to enable the depositary to vote as instructed. If the depositary does not receive  specific instructions from the holders of any depositary shares representing a series of Registered  Preferred Stock, it will vote all depositary shares of that series held by it proportionately with  instructions received.  Withdrawal of Stock  Unless the related depositary shares have been previously called for redemption, upon surrender  of the depositary receipts at the office of the depositary, the holder of the depositary shares will  be entitled to delivery, at the office of the depositary to or upon his or her order, of the number of  whole shares of the Registered Preferred Stock and any money or other property represented by  the depositary shares. If the depositary receipts delivered by the holder evidence a number of  depositary shares in excess of the number of depositary shares representing the number of whole  shares of Registered Preferred Stock to be withdrawn, the depositary will deliver to the holder at  the same time a new depositary receipt evidencing the excess number of depositary shares. In no  event will the depositary deliver fractional shares of Registered Preferred Stock upon surrender  of depositary receipts. Holders of Registered Preferred Stock thus withdrawn may not thereafter  deposit those shares under the deposit agreement or receive depositary receipts evidencing  depositary shares therefor.  Charges of Depositary  We will pay all transfer and other taxes and governmental charges arising solely from the  existence of the depositary arrangements. We paid the charges of the depositary in connection  with the initial deposit of the Registered Preferred Stock and will pay the charges of the  depositary in connection any redemption of the Registered Preferred Stock. Holders of  depositary receipts will pay transfer, income and other taxes and governmental charges and such  other charges (including those in connection with the receipt and distribution of dividends, the  sale or exercise of rights, the withdrawal of the Registered Preferred Stock and the transferring,  splitting or grouping of depositary receipts) as are expressly provided in the deposit agreement to  be for their accounts. If these charges have not been paid by the holders of depositary receipts,  the depositary may refuse to transfer depositary shares, withhold dividends and distributions and  sell the depositary shares evidenced by the depositary receipt.  Amendment and Termination of the Deposit Agreement  

 

          18    The form of depositary receipt evidencing the depositary shares and any provision of the deposit  agreement may be amended by agreement between us and the depositary. However, any  amendment that materially and adversely alters the rights of the holders of depositary shares,  other than fee changes, will not be effective unless the amendment has been approved by the  holders of at least a two-thirds majority of the outstanding depositary shares. The deposit  agreement with respect to a series of Registered Preferred Stock may be terminated by the  depositary or us only if:  • all outstanding depositary shares have been redeemed;  • there has been a final distribution of such Registered Preferred Stock in connection with  our dissolution and such distribution has been made to all the holders of depositary  shares; or  • upon the consent of the holders of not less than two-thirds of the outstanding depositary  shares.  Resignation and Removal of Depositary  The depositary may resign at any time by delivering to us notice of its election to do so, and we  may remove the depositary at any time. Any resignation or removal of the depositary will take  effect upon our appointment of a successor depositary and its acceptance of such appointment.  The successor depositary must be appointed within 60 days after delivery of the notice of  resignation or removal and must be a bank or trust company having its principal office in the  United States and having the requisite combined capital and surplus as set forth in the applicable  agreement.  Notices  The depositary will forward to holders of depositary receipts all notices, reports and other  communications, including proxy solicitation materials received from us, that are delivered to the  depositary and that we are required to furnish to the holders of the Registered Preferred Stock. In  addition, the depositary will make available for inspection by holders of depositary receipts at  the principal office of the depositary, and at such other places as it may from time to time deem  advisable, any reports and communications we deliver to the depositary as the holder of the  Registered Preferred Stock.  Limitation of Liability  Neither we nor the depositary will be liable if either of us is prevented or delayed by law or any  circumstance beyond its control in performing its obligations. Our obligations and those of the  depositary are limited to performance in good faith of our and their duties thereunder. We and  the depositary will not be obligated to prosecute or defend any legal proceeding in respect of any  depositary shares or preferred stock unless satisfactory indemnity is furnished. We and the  depositary may rely upon written advice of counsel or accountants, on information provided by  persons presenting preferred stock for deposit, holders of depositary receipts or other persons  believed to be competent to give such information and on documents believed to be genuine and  to have been signed or presented by the proper party or parties.exhibit102executivesuppl

    Exhibit 10.2    STATE STREET CORPORATION  Executive Supplemental Retirement Plan  (Amended and Restated January 1, 2015)      Table of Contents  Page  ARTICLE 1 Establishment and Purpose    1  1.1 Restatement    1  1.2 Purpose    1  1.3 Section 409A    1  ARTICLE 2 Definitions    1  2.1 Account    1  2.2 Account Balance    1  2.3 Account Vesting Commencement Date    1  2.4 Active Participant    1  2.5 Administrative Procedures    1  2.6 Administrator    1  2.7 Affiliate    1  2.8 Annual Credit Date    2  

 

2.9 Authorized Person    2  2.10 Basic Plan    2            2.11 Beneficiary    2  2.12 Board    2  2.13 Business Day    2  2.14 Cause    2  2.15 Claimant    2  2.16 Code    2  2.17 Committee    3  2.18 Company    3  2.19 Company Credit    3  2.20 Continuing Participant    3  2.21 Credit Date    3  2.22 Default Investment Option    3  

 

2.23 Domestic Partner    3  2.24 Early Retirement    3  2.25 Early Retirement Age    3  2.26 Early Retirement Date    3  2.27 Effective Date    3  2.28 Eligible Employee    3  2.29 Employee    3  2.30 Employer    3  2.31 Employment    3  2.32 Equity Plan    4  2.33 ERISA    4  2.34 ESRP Share Award    4  2.35 Fair Market Value    4  2.36 FICA Amount    4  2.37 Final Company Credit    4        

 

    2.38 Impairment.    4  2.39 Investment Earnings/Losses    4  2.40 Investment Election Form    4  2.41 Investment Options    4  2.42 Normal Retirement    4  2.43 Normal Retirement Age    4  2.44 Normal Retirement Date    5  2.45 Operating Group Participant    5  2.46 Participant    5  2.47 Plan    5  2.48 Plan Year    5  2.49 Prior Plan    5  2.50 Reference Date    5  2.51 Retirement    5  2.52 Retirement Date    5  

 

2.53 Schedule    5  2.54 Section 409A    5  2.55 Section 409A Compliance    5  2.56 Separated Participant    6  2.57 Separation From Service    6  2.58 Service    6  2.59 Spouse    6  2.60 Stock    6  2.61 Supplemental Benefits    6  2.62 Supplemental Defined Benefit    6  2.63 Supplemental Defined Contribution Benefit    6  2.64 Top Hat Plan    6            2.65 Total Disability    6  2.66 Transition Participant    7  

 

2.67 Treasury Regulations    7  ARTICLE 3 Participation    7  3.1 Eligibility    7  3.2 Participation    7  3.3 Age/Service Requirements for Supplemental Benefits Upon Retirement    8  3.4 Supplemental Benefits Upon Death    8  3.5 Supplemental Benefits Upon Total Disability    8  3.6 Forfeiture    8  ARTICLE 4 Supplemental Defined Contribution Benefits    9  4.1 Company Credits    9  4.2 Accounts    12  4.3 Vesting    13  4.4 Distribution    14  ARTICLE 5 Special Payment Rules    15  5.1 Delay in Payment    15  5.2 Acceleration of Payment    15  5.3 No Suspension of Payment    16  

 

5.4 Designation of Taxable Year    16  ARTICLE 6 Administration    16  6.1 Authority of the Committee    16  6.2 Outside Services    17  6.3 Decisions Binding    17  6.4 Indemnity of Committee    17  6.5 Cost of Administration    17  ARTICLE 7 Amendment and Termination    17  7.1 Amendment/Termination of Plan    17  7.2 Termination of Participant Interests    18            ARTICLE 8 Miscellaneous    18  8.1 Claims    18  8.2 Unfunded Plan    18  8.3 Unsecured General Creditor    18  8.4 Trust Fund    19  8.5 Nonassignability    19  

 

8.6 Not a Contract of Employment    19  8.7 Validity    19  8.8 Incompetency    19  8.9 Successors    19  8.10 Tax Withholdings    20  8.11 Governing Law    20  EXHIBIT A    21  EXHIBIT B 28  Schedule 1 28  Schedule 3 29  EXHIBIT C    34             

 

  ARTICLE 1 Establishment and Purpose  .  1.Restatement  . The Plan is a further amendment and restatement of the Prior Plan, effective as of  January 1, 2015, unless otherwise provided.   2.Purpose  . The principal purposes of the Plan are to provide certain key Employees with  competitive retirement benefits and to encourage the continued employment of such  Employees with the Employer.            3.Section 409A  . The Plan is intended to comply with Section 409A and shall be construed and  administered accordingly.  ARTICLE 2 Definitions  .  To the extent not otherwise defined in the text of the Plan, including, without  limitation, any Exhibits and Schedules of the Plan, capitalized terms shall have the  following meaning:  1.Account  . “Account” means a bookkeeping account (including any subaccounts) maintained  by the Administrator for a Participant to record the Participant’s Account Balance from  time to time.  2.Account Balance  . “Account Balance” means the value of an Account, as credited and/or debited in  accordance with Article IV, from time to time.  3.Account Vesting Commencement Date  . “Account Vesting Commencement Date” shall mean the date an Active Participant  meets the Age/Service Requirements for Supplemental Plan Benefits upon Retirement set  forth in Section 4.3(a).  4.Active Participant  . “Active Participant” means an Eligible Employee who is participating in the Plan  and who has not experienced a Separation from Service, Total Disability or death.  5.Administrative Procedures  

 

. “Administrative Procedures” means the policies and procedures established by the  Committee and/or the Administrator from time to time governing elections to participate  in the Plan, maintenance of Accounts, Investment Options, calculation of Investment  Earnings/Losses, Investment Election Forms, distributions from the Plan and such other  matters as are necessary for the proper administration of the Plan.  6.Administrator  . “Administrator” means that person or persons, including a committee, as is or are  delegated by the Board from time to time to discharge the responsibility of administering  the Plan.  7.Affiliate  . “Affiliate” means any corporation which is included in a controlled group of  corporations (within the meaning of Section 414(b) of the Code), which includes the  Company and any trade or business (whether or not incorporated) which is under common  control with the Company (within the meaning of Section 414(c) of the Code).  8.Annual Credit Date  . “Annual Credit Date” means, with respect to a Plan Year, the date of the first  regularly scheduled meeting of the Committee that occurs after February 1 of the  immediately following Plan Year.  9.Authorized Person  . “Authorized Person” means, effective for actions taken on or after August 1, 2012,  the Authorized Person appointed pursuant to Section 6.1(b).            10.Basic Plan  . “Basic Plan” means, effective for determinations made on or after January 1, 2013,  the State Street Salary Saving Program as the same may be amended from time to time for  all purposes except with respect to i) Exhibit A, and ii) Exhibit B- Schedule 1, in which cases  the Basic Plan shall mean the State Street Retirement Plan as the same may be amended  from time to time.  11.Beneficiary  . “Beneficiary” means the beneficiary designated to receive a death benefit by the  Participant in writing in a form and manner satisfactory to the Administrator. If no  Beneficiary is so designated, any death benefits shall be paid at the Administrator’s  direction in the following order of priority: Spouse, Domestic Partner, children, parents,  siblings, estate.  12.Board  

 

. “Board” means the Board of Directors of the Company.  13.Business Day  . “Business Day” means each day that the New York Stock Exchange is open for  business.  14.Cause  . “Cause” means, in the case of any Participant:  (i) the willful and continued failure of the Participant to perform  substantially the Participant’s duties with the Employer (other than  any such failure resulting from incapacity due to physical or mental  illness), after a written demand for substantial performance is  delivered to the Participant by the Participant’s supervisor which  specifically identifies the manner in which it is asserted that the  Participant has not substantially performed the Participant’s duties,  or  (ii) the willful engaging by the Participant in illegal conduct or gross  misconduct which is materially and demonstrably injurious to the  Employer.  For purposes of this definition, no act or failure to act on the part of the Participant shall be  considered “willful” unless it is done or omitted to be done by the Participant in bad faith or  without reasonable belief that the Participant’s action or omission was in the best interests  of the Employer.  15.Claimant  . “Claimant” has the meaning set forth in Section 8.1.  16.Code  . “Code” means the Internal Revenue Code of 1986, as the same may be amended  from time to time.  17.Committee  . “Committee” means the Executive Compensation Committee of the Board.  18.Company  . “Company” means State Street Corporation and any successor company.  19.Company Credit  . “Company Credit” means a notional amount credited to a Participant’s Account in  accordance with Section 4.1.  20.Continuing Participant            

 

. “Continuing Participant” means an Active Participant in the Prior Plan on  December 31, 2007.  21.Credit Date  . “Credit Date” means, as applicable, the Annual Credit Date or the Final Credit Date.  22.Default Investment Option  . “Default Investment Option” means the default investment option specified from  time to time by the Committee for the hypothetical investment of a Participant’s Account in  the event the Participant fails to allocate all or a portion of his or her Account to a  particular Investment Option.  23.Domestic Partner  . “Domestic Partner” means the person designated in a manner and form  satisfactory to the Administrator as the Participant’s domestic partner with respect to  eligibility for company-provided benefits.  24.Early Retirement  . “Early Retirement” means a Participant’s Separation From Service upon or after the  Participant’s attainment of Early Retirement Age and prior to the Participant’s attainment  of Normal Retirement Age but excluding a Separation From Service for Cause.  25.Early Retirement Age  . “Early Retirement Age” means age 53.  26.Early Retirement Date  . “Early Retirement Date” means the date of a Participant’s Early Retirement.  27.Effective Date  . “Effective Date” means January 1, 2008.  28.Eligible Employee  . “Eligible Employee” means an Employee who is appointed to the office of Executive  Vice President of the Company or to a position superior to that of Executive Vice President  of the Company.  29.Employee  . “Employee” means an individual who renders services to the Employer (or who has  rendered services to the Employer but is currently subject to an Impairment) as a common- law employee.  30.Employer  . “Employer” means the Company and its Affiliates.  31.Employment  . “Employment” means the period or periods during which a Participant is an  Employee of the Employer and has not experienced a Separation From Service.  32.Equity Plan  

 

. “Equity Plan” means the 2006 Equity Incentive Plan, as may be amended from time  to time, or such other equity plan of the Company as the Committee may designate from  time to time.  33.ERISA  . “ERISA” means the Employee Retirement Income Security Act of 1974, as amended,  and any successor act thereto.            34.ESRP Share Award  . “ESRP Share Award” has the meaning set forth in Section 4.1(b).  35.Fair Market Value  . “Fair Market Value” of a share of Stock on any given day shall mean closing price  per share of Stock on the New York Stock Exchange, on the date as of which such value is  being determined or, if there shall be no sale on that date, then on the basis of the closing  price per share of Stock on the nearest date before the date on which such value is being  determined.  36.FICA Amount  . “FICA Amount” shall mean the amount of Federal Insurance Contributions Act tax  imposed under Sections 3101, 3121(a) and 3121(v)(2) of the Code, where applicable, on  compensation under the Plan.  37.Final Company Credit  . “Final Company Credit” has the meaning set forth in Section 4.1(a)(iii).  38.Impairment.  “Impairment” means any medically determinable physical or mental impairment  that can be expected to result in death or can be expected to last for a continuous period of  not less than six months.  39.Investment Earnings/Losses  . “Investment Earnings/Losses” means the amounts that would have been realized  had an amount deferred hereunder actually been invested in the Investment Option or  Options selected by a Participant during the effectiveness of such selections.  40.Investment Election Form  . “Investment Election Form” means such form or other means designated by the  Company from time to time by which a Participant elects the Investment Options in which  the Participant’s Account is deemed to be invested in accordance with Section 4.2.  41.Investment Options  

 

. “Investment Options” means the Default Investment Option and such other  investment options as selected from time to time by the Committee that are used as  hypothetical investment options among which the Participant may allocate all or a portion  of his or her Account.  42.Normal Retirement  . “Normal Retirement” means a Participant’s Separation From Service upon or after  the Participant’s Normal Retirement Age, other than a Separation From Service for Cause.  43.Normal Retirement Age  . “Normal Retirement Age” means age 65.  44.Normal Retirement Date  . “Normal Retirement Date” means the date of a Participant’s Normal Retirement.  45.Operating Group Participant  . “Operating Group Participant” means, in respect of a Plan Year, an Active  Participant who is identified in the records of the Committee as being a member of the  Company’s Operating Group during the Plan Year (or a portion thereof) or otherwise  designated by the Committee to be a member of the Operating Group.            46.Participant  . “Participant” means an Active Participant or a Separated Participant (for so long as  he or she is receiving a distribution of Supplemental Benefits under the Plan).  47.Plan  . “Plan” means this State Street Corporation Executive Supplemental Retirement  Plan (including the Exhibits and Schedules hereto and the Committee actions referenced  herein), as the same may be amended from time to time in accordance with the terms  hereof.  48.Plan Year  . “Plan Year” means the calendar year.  49.Prior Plan  . “Prior Plan” means the terms of the Plan (formerly known as the “State Street  Corporation Supplemental Defined Benefit Pension Plan”) in effect immediately prior to the  Effective Date, as set forth in the Company’s written documentation, rules, practices and  procedures applicable to the Plan.  50.Reference Date  . “Reference Date” means, effective for all determinations made on or after October  1, 2012, a date that is as soon as administratively feasible but no later than 5 business days  

 

prior to each applicable payment date specified in Section 4.4; provided that if a Reference  Date is not a Business Day, such Reference Date shall be deemed to be the immediately  following Business Day.  51.Retirement  . “Retirement” means Normal Retirement or Early Retirement.  52.Retirement Date  . “Retirement Date” means the date of a Participant’s Normal Retirement or Early  Retirement, as applicable.  53.Schedule  . “Schedule” means, in the case of any Participant to whom the “separate rule”  provisions of Section 3.2(c) below apply, an attachment to the Plan or a separate action of  the Committee duly recorded in the Committee’s records that sets forth identifying  information concerning the separate rules applicable to such Participant.  54.Section 409A  . “Section 409A” means Section 409A of the Code and the applicable rulings,  regulations and guidance promulgated thereunder, as each may be amended or issued from  time to time.  55.Section 409A Compliance  . “Section 409A Compliance” has the meaning set forth in Section 7.1.  56.Separated Participant  . “Separated Participant” means an Active Participant who has experienced a  Separation From Service, Total Disability or death.  57.Separation From Service  . “Separation From Service” means a separation from service with the Employer for  purposes of Section 409A within the meaning of the default rules of Treasury Regulation  Section 1.409A-(h)(1) and correlative terms shall be construed to have a corresponding  meaning; provided that in the event that an             Active Participant is absent from work due to an Impairment, other than a Total Disability,  where such Impairment causes the Participant to be unable to perform the duties of his  position or any substantially similar position of employment, the Participant shall incur a  Separation From Service 29 months after the date on which the Participant was first  Impaired. Notwithstanding the foregoing, if an Active Participant would otherwise incur a  Separation From Service in connection with a sale of assets of the Company, the Committee  

 

shall retain the discretion to determine whether a Separation From Service has occurred in  accordance with Treasury Regulation Section 1.409A-1(h)(4).  58.Service  . “Service” means, effective for all determinations made on or after August 1, 2012, a  Participant’s years (and fraction thereof) of service with the Employer for vesting and  eligibility (as determined under the terms of the Basic Plan as in effect on the Effective  Date). For the avoidance of doubt, for any Participant who was terminated at any time and  subsequently rehired on or after August 1, 2012, only Service after rehire will be counted.  59.Spouse  . “Spouse” means the individual (if any) who is legally married to the Participant at  the time that payment of the Participant’s Supplemental Benefits commences or at death if  death occurs prior to such benefit commencement date.  60.Stock  . “Stock” means common stock of the Company, par value $1.00 per share.  61.Supplemental Benefits  . “Supplemental Benefits” means Supplemental Defined Benefits and/or  Supplemental Defined Contribution Benefits.  62.Supplemental Defined Benefit  . “Supplemental Defined Benefit” means the benefits provided under Exhibit A and  Exhibit B to the Plan and any Schedule to the Plan.  63.Supplemental Defined Contribution Benefit  . “Supplemental Defined Contribution Benefit” means the benefits provided under  Article IV of this Plan.  64.Top Hat Plan  . “Top Hat Plan” means an unfunded plan maintained primarily to provide deferred  compensation benefits to a select group of management or highly compensated Employees  within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.  65.Total Disability  . “Total Disability” or “Totally Disabled” means (i) a Participant’s inability to engage  in any substantial gainful activity by reason of any medically determinable physical or  mental impairment which can be expected to result in death or can be expected to last for a  continuous period of not less than twelve months or (ii) a Participant’s receipt, by reason of  any medically determinable physical or mental impairment which can be expected to result  in death or can be expected to last for a continuous period of not less than twelve months,  of income replacement benefits for a period of not less than six months under an accident  and health plan covering Employees of the Employer.  66.Transition Participant      

 

      . “Transition Participant means a Continuing Participant (i) who, as of the Effective  Date, (x) was at least age 50 and (y) has been employed with the Employer for at least five  years as an Executive Vice President (or superior position) or (ii) who is otherwise  identified as a Transition Participant in the records of the Committee.  67.Treasury Regulations  . “Treasury Regulations” means the regulations adopted by the Internal Revenue  Service under the Code, as they may be amended from time to time.  ARTICLE 3 Participation  .  1.Eligibility  . Subject to Section 3.2, all Eligible Employees shall participate in the Plan unless the  Committee specifies otherwise in a particular case. The Committee may designate other  Employees as eligible to participate in the Plan, but only if they are management or highly  compensated employees as those terms are used in Sections 201(2), 301(a)(3) and  401(a)(1) of ERISA.  2.Participation  .  (a)Continuing Participants shall continue to participate under the Plan in accordance  with the terms hereof.  (b)Except as otherwise provided by the Committee, each Eligible Employee who  became an Eligible Employee on or after January 1, 2007 and who is not a Continuing  Participant shall become an Active Participant upon the earlier of the (i) Effective Date and  (ii) the effective date of his or her becoming an Eligible Employee.  (c)The Committee may determine that separately applicable rules (or exceptions to  the generally applicable rules) (the “separate rules”) shall apply to certain Participants.  Such Participants and the relevant separate rules are set forth on Exhibits A and B to the  Plan and in any Schedules to the Plan. With respect to any such Participant, the separate  rules applicable to such Participant shall be treated as part of the Plan, shall be  incorporated herein by reference, and shall apply, in a manner that results in Section 409A  Compliance, in lieu of the generally applicable rules set forth below to the extent of any  inconsistency.  (d)Participation in the Plan as an Active Participant is terminable by the Committee,  in its discretion, upon written notice to the Active Participant, and such termination of  participation shall be effective as of the date contained therein, but in no event earlier than  the date of such notice; provided, however, that such termination of participation may not  

 

reduce or adversely affect an Active Participant’s accrued benefit for which the Active  Participant has satisfied the age and service requirements of Section 3.3 hereunder.    3.Age/Service Requirements for Supplemental Benefits Upon Retirement  .   (a)    Any Participant who became an Eligible Employee before August 1, 2012 shall  be eligible to receive a Supplemental Benefit in connection with Retirement only if he or she  has (i) attained Early Retirement Age and (ii) satisfied the “rule of 60” (age plus completed  years of Service must equal at least 60).            (b)    Any Participant hired or rehired, or first elected an Executive Vice President (or  to a superior position), on or after August 1, 2012, shall be eligible to receive a  Supplemental Benefit in connection with Retirement only if he or she has (i) attained Early  Retirement Age, (ii) satisfied the “rule of 60” (age plus completed years of Service must  equal at least 60), and (iii) has completed a minimum of 5 years of Service..  4.Supplemental Benefits Upon Death  . In the event of an Active Participant’s death prior to satisfying the age and service  requirement of Section 3.3, the Supplemental Benefits set forth in Section 4.4(b) and, if  applicable, Section A.2.4 of Exhibit A, shall be payable to the Participant’s designated  Beneficiary.   5.Supplemental Benefits Upon Total Disability  . In the event that an Active Participant becomes Totally Disabled prior to meeting  the age and service requirements set forth in Section 3.3, the Supplemental Benefits set  forth in Section 4.4(c) and, if applicable, Section A.2.5 of Exhibit A, shall be payable to the  Participant.   6.Forfeiture  .   (a)Failure to Satisfy Age/Service Requirements. In the event of a Participant’s  Separation From Service prior to satisfying the age and service requirements of Section 3.3,  such Participant shall forfeit his or her right to receive any and all Supplemental Benefits  set forth in this Plan. For the avoidance of doubt, if a Participant is rehired by the Employer,  the Supplemental Benefits forfeited upon such Participant’s Separation From Service shall  remain forfeited.  (b)Nonsolicitation/Noncompetition. Notwithstanding any other provisions hereof, all  payments of Supplemental Benefits shall immediately cease and neither Participant nor his  or her Spouse, nor any other Beneficiary of the Participant shall receive any benefits  

 

hereunder if the Participant, without the prior written consent of the Committee, engages,  either directly or indirectly, in any of the activities described in subparagraph (i), (ii) or  (iii) below within two years after his or her Separation From Service:  (i) solicitation of the employment or retention of any person  whom the Employer has employed or retained during the  two-year period prior to the Participant’s Separation From  Service. For purposes of the foregoing sentence, a person  retained by the Employer means anyone who has rendered  substantial consulting services to the Employer and has  thereby acquired material confidential information concerning  any aspect of the Employer’s operations;  (ii) any sale, offer to sell or negotiation with respect to orders or  contracts for any product or service similar to or competitive  with a product or service or any equipment or system  containing any such product or service sold or offered by the  Employer, other than for the Employer’s account, during the  two-year period after the Participant’s Separation From  Service, to or with anyone with whom the Employer has so  dealt or anywhere in any state of the United States or in any  other country, territory or possession in which the Employer  has, during said period, sold, offered or negotiated with respect  to orders or contracts for any such product, service, equipment  or system; or  (iii) ownership of any direct or indirect interest (other than a less- than-one-percent stock interest in a corporation) in, or  affiliation with, or rendering             any services for, any person or business entity which engages, during the two-year period  after the Participant’s Separation From Service, either directly or indirectly, in any of the  activities described in subparagraph (i) or (ii) above.  ARTICLE 4Supplemental Defined Contribution Benefits  .  1.Company Credits  .  

 

(a)Generally. For Plan Years commencing on and after the Effective Date, an Active  Participant shall be entitled to receive Company Credits as follows:  (i) An Active Participant who was a Participant for an entire Plan  Year shall receive a Company Credit in the amount of $200,000  on the Annual Credit Date for the Plan Year to his or her  Account; provided, however, that the Company Credit received  under this Section 4.1(a)(i) for the 2013 Plan Year shall be in  the amount of $100,000 and shall not be provided to an Active  Participant who is an Operating Group Participant; provided,  further, there shall be no Company Credit under this Section  4.1(a)(i) for any Participant for the 2015 Plan Year.  (ii) An Active Participant who became an Active Participant during  a Plan Year shall receive for such Plan Year a Company Credit  equal to the product of (x) $200,000 and (y) a fraction, the  numerator of which is the number of complete calendar  months in the Plan Year during which the Active Participant  was an Active Participant, and the denominator of which is  twelve; provided, however, that the Company Credit received  under this Section 4.1(a)(ii) for the 2013 Plan Year shall be  equal to the product of (x) $100,000 and (y) a fraction, the  numerator of which is the number of complete calendar  months in the Plan Year during which the Active Participant  was an Active Participant but not an Operating Group  Participant, and the denominator of which is twelve; provided,  further, there shall be no Company Credit under this Section  4.1(a)(ii) for any Participant for the 2015 Plan Year. Any such  Company Credit shall be credited to the Active Participant’s  Account on the Annual Credit Date for the relevant Plan Year.  (iii) An Active Participant who becomes a Separated Participant  due to Retirement, death or Total Disability during a Plan Year  shall receive a Company Credit equal to the product of  (x) $200,000 and (y) a fraction, the numerator of which is the  number of complete calendar months in the Plan Year when  such Participant was an Active Participant prior to (I) the  Active Participant’s Retirement Date, (II) the date of the Active  Participant’s death or (III) the date the Active Participant  became Totally Disabled, as applicable, and the denominator of  which is twelve; provided, however, that the Company Credit  

 

received under this Section 4.1(a)(iii) for the 2013 Plan Year  shall be equal to the product of (x) $100,000 and (y) a fraction,  the numerator of which is the number of complete calendar  months in the Plan Year when such Participant was an Active  Participant but not an Operating Group Participant prior to (I)  the Active Participant's Retirement Date, (II) the date of the  Active Participant's death or (III) the date the Active             Participant became Totally Disabled, as applicable, and the denominator of which is  twelve) ; provided, further, there shall be no Company Credit under this Section 4.1(a)(iii)  for any Participant for the 2015 Plan Year. Any such prorated Company Credit shall be  credited to the Participant’s Account on the last Business Day of the month in which the  Participant’s Retirement, death or Total Disability occurred (the “Final Credit Date”).  (b)Operating Group Participants. An Operating Group Participant shall be entitled to  receive the following for Plan Years commencing on and after the Effective Date:  (i) An Active Participant who is an Operating Group Participant  for an entire Plan Year shall be granted on the Annual Credit  Date for such Plan Year a deferred share unit award under the  Equity Plan (an “ESRP Share Award”) with a Fair Market Value  on such Annual Credit Date equal to $200,000; provided,  however, there shall be no ESRP Share Award under this  Section 4.1(b)(i) for the 2015 Plan Year. The terms of the ESRP  Share Award shall, in a manner that results in Section 409A  Compliance, provide that the award will vest in accordance  with Section 4.3 of the Plan and the underlying shares of Stock  will be settled to the Operating Group Participant in  accordance with Section 4.4 of the Plan, subject, in each case, to  Section 7 of the Equity Plan or any successor provision. In  addition, the ESRP Share Award shall provide for dividend  equivalents. The other terms of the ESRP Share Award shall be  governed by the Equity Plan.  (ii) An Active Participant who is an Operating Group Participant  for a portion of a Plan Year, other than an Active Participant  who becomes a Separated Participant during the Plan Year,  shall receive an ESRP Share Award with a Fair Market Value on  

 

such Annual Credit Date equal to the product of (x) $200,000  and (y) a fraction, the numerator of which is the number of  complete calendar months in the Plan Year during which the  Active Participant was an Operating Group Participant and the  denominator of which is twelve; provided, however, there shall  be no ESRP Share Award under this Section 4.1(b)(ii) for the  2015 Plan Year. Any such ESRP Share Award shall be granted  to the Active Participant on the Annual Credit Date for the  relevant Plan Year.  (iii) An Active Participant who becomes a Separated Participant  due to Retirement, death or Total Disability during a Plan Year  at a time when he/she is an Operating Group Participant, shall  not be entitled to an ESRP Share Award in respect of such Plan  Year but instead for the period of the Plan Year, if any, when  the Active Participant was an Operating Group Participant shall  be entitled to receive a Company Credit equal to the product of  (x) $200,000 and (y) a fraction, the numerator of which is the  number of complete calendar months in the Plan Year when  the Active Participant was an Operating Group Participant  prior to (I) the Operating Group Participant's Retirement Date,  (II) the date of the Operating Group Participant's death or (III)  the date the Operating Group Participant became Totally  Disabled, as applicable, and the denominator of which is  twelve; provided, however, there shall be no Company Credit  under this Section 4.1(b)(iii) for the 2015 Plan Year. Any such  prorated Company Credit shall be credited to the Participant's  Account on the Final Credit Date.  For the avoidance of doubt, an Operating Group Participant shall also be entitled to  Company Credits pursuant to Section 4.1(a); provided, however that for the 2013 Plan             Year, an Operating Group Participant shall not be entitled to Company Credits pursuant to  Section 4.1(a) for any period during a Plan Year when the Active Participant was an  Operating Group Participant; provided, further, there shall be no Company Credit under  Section 4.1(a) for any Participant for the 2015 Plan Year.  

 

(c)Transition Participants. Notwithstanding Section 4.1(a) and Section 4.1(b) above,  Company Credits (including any Final Company Credits) shall not be credited to the  Account of a Transition Participant and ESRP Share Awards shall not be granted to a  Transition Participant in respect of any period commencing prior to the Freeze Date  applicable to the Transition Participant. A Transition Participant shall continue to earn a  Supplemental Defined Benefit in accordance with the relevant terms of the Plan (including  any Schedules hereto) until the Freeze Date applicable to the Transition Participant.  (d)Adjustment by Committee. Notwithstanding anything to the contrary in Section  4.1(a) and 4.1(b) above, the Committee shall have the discretion to adjust, in a manner that  results in Section 409A Compliance: (i) the amount of a Company Credit (including any  Final Company Credits or ESRP Share Award credited or granted, as applicable, in respect  of a Participant’s status as an Active Participant or an Operating Group Participant for a  portion of a Plan Year); and (ii) the medium of settlement of an ESRP Share Award, in each  case, to the extent necessary to avoid adverse tax consequences to an Operating Group  Participant; provided, however, that in no event shall such adjustment diminish the  economic benefit to the Participant of a Company Credit or an ESRP Share Award without  the Participant’s consent.  2.Accounts  .  (a)Generally. An Account shall be established and maintained under the Plan on  behalf of each Participant. The Account shall track the Company Credits (including any  Final Company Credits), Investment Earnings/Losses, distributions or other elections  applicable to such accounts. The Account shall have subaccounts, established and  maintained as appropriate to reflect the Company Credits and Investment Option(s)  selected by the Participant.  (b)Crediting/Debiting of Account. A Company Credit (including any Final Company  Credits) shall be credited to a Participant’s Account in accordance with the Administrative  Procedures; provided that a Company Credit shall not be credited or debited with  Investment Earnings/Losses prior to the applicable Credit Date for such Company Credit. A  Participant’s Account shall be credited or debited with Investment Earnings/Losses based  upon the Investment Options selected by the Participant pursuant to Section 4.2(c) and in  accordance with the Administrative Procedures.  (c)Election of Investment Options. A Participant shall elect, in accordance with the  Administrative Procedures, one or more Investment Option(s) from a menu of Investment  Options provided by the Committee to be used to determine Investment Earnings/Losses  credited or debited to his or her Account. A Participant may reallocate the existing balance  of his or her Account among the available Investment Options and change Investment  Options with respect to future deferrals under the Plan in accordance with the  

 

Administrative Procedures. In the event that a Participant fails to select one or more  Investment Options for all or a portion of his or her Account (including in the situation  where the Investment Option is discontinued and the Participant fails to designate an  alternative in accordance with the Administrative Procedures), such amounts shall be  deemed invested in the Default Investment Option. Notwithstanding the foregoing, the  Final Company Credits credited to the Account of a Participant on the Final Credit Date in  connection with his or her death or Total Disability shall not be deemed invested in any  Investment Option.            (d)Investment Options. The Committee shall select the Investment Options. The  Committee shall be permitted to add, remove or change Investment Options, as it deems  appropriate; provided that any such addition, deletion or change shall not be effective with  respect to any period prior to the effective date of the change. Each Participant, as a  condition to his or her participation in the Plan, agrees to indemnify and hold harmless the  Committee, the Administrator and the Company, and their agents and representatives,  from any losses or damages of any kind relating to the Investment Options made available  hereunder.  (e)Crediting or Debiting Method. The performance of each elected Investment Option  (either positive or negative) will be determined based on the performance of the actual  Investment Option. A Participant’s Account shall be credited or debited with Investment  Earnings/Losses as determined by the Administrator in accordance with the  Administrative Procedures. The Administrator shall establish procedures for valuing the  balance of a Participant’s Account, from time to time, including upon distribution, in  accordance with the Administrative Procedures.  (f)No Actual Investment. Notwithstanding any other provision of the Plan, the  Investment Options are to be used for measurement purposes only, and a Participant’s  election of any such Investment Options and the crediting or debiting of Investment  Earnings/Losses to a Participant’s Account shall not be considered or construed in any  manner as an actual investment of his or her Account in any such Investment Options. In  the event that the Company decides to invest funds in any or all of the Investment Options,  no Participant shall have any rights in or to such investments themselves. Without limiting  the foregoing, a Participant’s Account shall at all times be a bookkeeping entry only and  shall not represent any investment made on his or her behalf by the Company. The  Participant shall at all times remain an unsecured creditor of the Company.  3.Vesting  

 

.  (a)Generally. An Active Participant shall commence vesting in his or her Account on  the date that the Active Participant (i) attains Early Retirement Age and (ii) satisfies the  requirements under Section 3.3 (the “Age/Service Requirements for Supplemental Benefits  Upon Retirement Date”). An Active Participant shall vest on a cumulative basis in one-third  (33.3%) of his or her Account on the Account Vesting Date, and each of the Active  Participant’s first two birthdays immediately subsequent to the Account Vesting  Commencement Date. Notwithstanding the foregoing, a Continuing Participant who was  first elected an Executive Vice President (or to a superior position) prior to March 1, 2000  shall immediately vest in full in his or her Account on the date such Continuing Participant  attains Early Retirement Age.  (b)Death. In the event of an Active Participant’s death, the Active Participant shall  become fully vested in his or her Account effective as of the date of the Active Participant’s  death.  (c)Total Disability. If an Active Participant becomes Totally Disabled, the Active  Participant shall become fully vested effective as of the date the Active Participant became  Totally Disabled.  4.Distribution  .  (a)Retirement.   (i) Upon an Active Participant’s Retirement, the vested balance of  the Participant’s Account, other than the ESRP Share Award if  applicable, shall be payable to the Participant in cash in three  installment payments. The amount of each cash installment  payment shall be the amount determined by multiplying the  value of a Participant’s Account, other than the ESRP Share             Award if applicable, calculated as of the close of business on the applicable Reference Date  by a fraction, the numerator of which is one and the denominator of which is the remaining  number of payments due to the Participant. The installment payments shall be made on the  following dates: (I) the first Business Day of the month coinciding with or following the  date that is six months after the Participant’s Retirement Date; (II) the first Business Day of  the month coinciding with or following the first anniversary of the Participant’s Retirement  Date; and (III) the first Business Day of the month coinciding with or following the second  anniversary of the Participant’s Retirement Date, or, in each case, as soon as  

 

administratively feasible thereafter in a manner that is consistent with Section 409A  Compliance.  (ii) Upon an Active Participant’s Retirement, the vested balance of  the Participant’s ESRP Share Award if applicable shall be  distributed to the Participant in the form of shares of Stock,  also in three installment payments. The number of shares in  any installment payment of an ESRP Share Award if applicable  shall the total number of shares under such Award remaining  unpaid on the applicable Reference Date multiplied by a  fraction, the numerator of which is one and the denominator of  which is the remaining number of payments due to the  Participant. The installment payments shall be payable on the  following dates: (I) the first Business Day following the date  that is six months after the Participant’s Retirement Date, (II)  the first Business Day coinciding with or following the first  anniversary of the Participant’s Retirement Date, and (III) the  first Business Day coinciding with or following the second  anniversary of the Participant’s Retirement Date, or, in each  case, as soon as administratively feasible thereafter in a  manner that is consistent with Section 409A Compliance.    (b)Death.  (i) Upon the death of an Active Participant, the balance of the  Active Participant’s Account, calculated as of the close of  business on the Reference Date, shall be paid to the Active  Participant’s Beneficiary in a single lump sum cash distribution  within 90 days following the date of the Active Participant’s  death.  (ii) Upon the death of a Separated Participant, the Committee shall  commute any or all remaining payments to the Separated  Participant’s Beneficiary by paying the remaining balance of  the Separated Participant’s Account, calculated as of the close  of business on the Reference Date, in a single lump sum cash  distribution within 90 days following the date of the Separated  Participant’s death.  (c)Total Disability. Upon the Total Disability of an Active Participant, the balance of  the Active Participant’s Account, , including the ESRP Share Award if applicable, calculated  as of the close of business on the Reference Date, shall be paid to the Active Participant in a  

 

single lump sum cash distribution as soon as administratively feasible following the date on  which the Active Participant becomes Totally Disabled, and in any event by the later of (I)  the fifteenth day of the third month following the date on which the Participant becomes  Totally Disabled, or (II) the end of the calendar year in which the Participant becomes  Totally Disabled, in a manner that is             consistent with Section 409A Compliance, provided the Active Participant has remained  Totally Disabled through the date of payment.  ARTICLE 5Special Payment Rules  .  1.Delay in Payment  . Notwithstanding anything in the Plan to the contrary, neither the Committee nor  the Administrator shall have the discretionary authority to delay payment of Supplemental  Benefits, except to the extent that the Administrator determines, in its discretion, that any  such delay can be effected in a manner that results in Section 409A Compliance (as  hereinafter defined). Without limiting the generality of the foregoing, payment of the  Supplemental Benefits may be delayed, at the discretion of the Committee or  Administrator, to the extent that the Committee or the Administrator reasonably  anticipates that (i) if payment were made as scheduled, the Employer’s deduction with  respect to such payment would not be permitted due to the application of Section 162(m)  of the Code, or (ii) payment of the Supplemental Benefits would violate federal securities  laws or other applicable law. Payment of any amount delayed pursuant to this Section 5.1  shall earn interest at the then prevailing applicable federal rate provided for in Section  7872(f)(2)(A) of the Code and made in a manner that results in Section 409A Compliance.  2.Acceleration of Payment  .  (a)Notwithstanding anything in the Plan to the contrary, neither the Committee nor  the Administrator shall have the discretionary authority to accelerate payment of any  Supplemental Benefits except as set forth in the remainder of this Section 5.2(a) or to the  extent the Committee or the Administrator determines, in its discretion, that any such  acceleration may be effected in a manner that results in Section 409A Compliance.  (b)The Administrator may, in a manner that results in Section 409A Compliance,  determine to accelerate the time or schedule of a Participant’s distribution to pay (i) the  FICA Amount and/or (ii) the income tax at source on wages imposed under Section 3401 of  the Code or the corresponding withholding provisions of applicable state, local or foreign  

 

tax laws as a result of the payment of the FICA Amount (and any additional tax due as a  result of such payment). The total amount accelerated under this Section 5.2(b) may not  exceed the aggregate of the FICA Amount and the income tax withholding related to such  FICA Amount.  (c)The Administrator may, in a manner that results in Section 409A Compliance,  determine to accelerate the time or schedule of a Participant’s distribution if at any time  the Plan, as applicable to such Participant, fails to meet the requirements of Section 409A of  the Code and the corresponding Treasury Regulations. Such amount may not exceed the  amount required to be included in income as a result of the failure to comply with Section  409A of the Code and the corresponding Treasury Regulations.  3.No Suspension of Payment  . Notwithstanding anything to the contrary in the Plan, in the event (i) a  Separated Participant is subsequently rehired by the Employer or (ii) a Separated  Participant who was Totally Disabled subsequently recovers and recommences performing  services for the Employer, the payment of such Separated Participant’s Supplemental  Benefits accrued prior to such Separation From Service or Total Disability shall not be  suspended or otherwise delayed.  4.Designation of Taxable Year  . In no event may any Participant or any Beneficiary designate the taxable year of  payment of any Supplemental Benefits. The timing of payment of a Participant’s  Supplemental Benefits shall be             determined by the Committee, in its sole discretion, in accordance with the provisions of  the Plan and in a manner that results in Section 409A Compliance.  ARTICLE 6 Administration  .  1.Authority of the Committee  .   (a) Authority of the Committee. The Administrator of the Plan shall be the  Committee. The Administrator shall have complete discretionary  authority to interpret the Plan and to decide all matters under the Plan.  Such interpretation and decision shall be final, conclusive and binding  on all Participants and any person claiming under or through any  Participant, in the absence of clear and convincing evidence that the  Administrator acted arbitrarily and capriciously. The Administrator  

 

shall establish such rules and procedures, maintain such records and  prepare such reports as it considers to be necessary or appropriate to  carry out the purposes of the Plan. As the Administrator, the  Committee’s powers and duties shall include, but shall not be limited  to, permitting the acceleration of vesting in individual cases in its sole  and exclusive direction.  (b) Authorized Person. Except as the Committee may otherwise determine,  the Authorized Person shall be the Executive Vice President-Global  Human Resources, as from time to time in office, and his or her  delegates. The Authorized Person shall have the power and  responsibility to (i) undertake routine administrative tasks related to  the Plan, (ii) make amendments to the Plan (in general or with respect  to one or more individual Participants or Beneficiaries) that are  administrative in nature and that do not materially increase the  financial obligations of the Employer, and (iii) add, remove or change  investment options (including with respect to balances already  notionally invested) under the Plan. References to “Committee” in  Sections 6.2, 6.3 and 6.4 below shall be deemed to include the  Authorized Person acting within the scope of his or her responsibilities  as described in the immediately preceding sentence.  (c) Notwithstanding any other provision in this Section, no individual  acting, directly or by delegation (including, for the avoidance of doubt,  the Authorized Person), as the Administrator may determine his or  her own rights or entitlements under the Plan.    2.Outside Services  . The Committee may engage counsel and such clerical, financial, investment,  accounting, and other specialized services as the Committee may deem necessary or  appropriate in the administration of the Plan. The Committee shall be entitled to rely upon  any opinions, reports, or other advice furnished by counsel or other specialists engaged for  that purpose and, in so relying, shall be fully protected by the Company in any action,  determination, or omission made in good faith.  3.Decisions Binding  . The decision or action of the Committee with respect to any question arising out of  or in connection with the administration, interpretation and application of the Plan and any  rules or guidelines made in connection with the Plan shall be final, binding and conclusive  upon all persons and entities having or claiming any interest in the Plan.  4.Indemnity of Committee  

 

          . The Company shall indemnify and hold harmless the Committee and its individual  members against any and all claims, loss, damage, expense or liability arising from any  action or failure to act with respect to the Plan.  5.Cost of Administration  . The Company shall bear all expenses of administration of the Plan.  ARTICLE 7 Amendment and Termination  .  1.Amendment/Termination of Plan  . Subject to Section 7.2 below, the Company hereby reserves the right to amend,  modify or terminate the Plan at any time by action of a majority of the members of the  Committee. In addition, the Authorized Person shall have the right at any time and from  time to time to make amendments to the Plan as specified in Section 6.1(b). Except as  described below in this Article 7, no such amendment or termination shall in any material  manner reduce or adversely affect any Participant’s accrued benefit without the consent of  the Participant. Upon termination of the Plan, payment of a Participant’s Supplemental  Benefits shall be made in accordance with the terms of the Plan and the elections in effect  prior to such termination, unless the Board or the Committee, in its discretion, determines  to accelerate payment, and such acceleration may be effected in a manner that will not  cause any Participant or Beneficiary to recognize income for U.S. federal income tax  purposes prior to the time of a distribution of Supplemental Benefits or to incur interest or  additional tax under Section 409A (“Section 409A Compliance”).  2.Termination of Participant Interests  . The Plan is intended to be a Top Hat Plan and therefore to be exempt from the  provisions of Parts 2, 3 and 4 of Subtitle B of Title I of ERISA. Accordingly, subject to  Section 7.1 above, the Board may terminate the Plan and commence termination  distributions for all or certain Participants, or remove certain Employees as Participants, if  it is determined by the United States Department of Labor, or a court of competent  jurisdiction, that the Plan constitutes an employee pension benefit plan within the meaning  of Section 3(2) of ERISA which is not so exempt. If distribution is commenced pursuant to  the operation of this Article 7, the payment of such amounts shall be made consistent with  Section 7.1.  ARTICLE 8 Miscellaneous  .  1.Claims  

 

. If a Participant or his or her Beneficiary or the authorized representative of one of the  foregoing (hereinafter, the “Claimant”) does not receive the timely payment of the benefits  which he or she believes are due under the Plan, the Claimant may make a claim for  benefits in accordance with the Claims Procedures set forth on Exhibit C to this Plan.  Notwithstanding Section 7.1, the Claims Procedures may be amended by the Administrator  from time to time.  2.Unfunded Plan  . It is intended that this Plan’s status as a Top Hat Plan shall not be adversely  affected by the establishment of any trust pursuant to Section 8.4.  3.Unsecured General Creditor  . No Participant, nor any Spouse, Domestic Partner or other Beneficiaries of a  Participant, shall have any legal or equitable right, interest or claim in any property or  assets of the Employer, other than             that of an unsecured general creditor of the Employer. Without limiting the generality of  the foregoing, no such person shall have any right, claim or interest in any life insurance  policies, annuity contracts or the proceeds therefrom owned or which may be acquired by  the Employer. Except as provided in Section 8.4, such policies, annuity contracts or other  assets of the Employer shall not be held under any trust for the benefit of a Participant, his  or her Beneficiaries, heirs, successors or assigns, or held, in any way, as collateral security  for the fulfilling of any obligations of the Employer under this Plan. The Employer’s assets  shall be, and shall remain for purposes of this Plan, the general assets of the Employer. The  Employer’s obligation under this Plan shall be that of an unfunded and unsecured promise  to pay money in the future.  4.Trust Fund  . At its discretion and in a manner intended to result in Section 409A Compliance,  the Employer may establish one or more grantor trusts, with such trustees as the  Committee may approve, for the purpose of providing for the payment of benefits under  this Plan. Such trust or trusts may be irrevocable, but the assets thereof shall be subject to  the claims of the Employer’s general creditors in the event of bankruptcy or insolvency of  the grantor. To the extent any benefits provided under this Plan are actually paid from any  such trust, the Employer shall have no further obligation with respect to the benefits so  paid, but to the extent not so paid, such benefits shall remain the obligation of, and shall be  paid by, the Employer.  5.Nonassignability  

 

. Neither a Participant nor any other person shall have any right to sell, assign,  transfer, pledge, anticipate, mortgage, or otherwise encumber, hypothecate or convey in  advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which  are, and all rights to which are, expressly declared to be nonassignable and  nontransferable. No part of the amount payable shall, prior to actual payment, be subject to  seizure or sequestration for the payment of any debts, judgments, alimony or separate  maintenance owed by a Participant or any other person, nor shall such amounts or rights to  such amounts be transferable by operation of law in the event of a Participant’s or any  other person’s bankruptcy or insolvency.  6.Not a Contract of Employment  . The terms and conditions of this Plan shall not be deemed to constitute a contract  of employment between the Employer and any Participant, and the Participants (and a  Participant’s Spouse, Domestic Partner or other Beneficiaries) shall have no rights against  the Employer except as may otherwise be specially provided herein. Moreover, nothing in  this Plan shall be deemed to give a Participant the right to be retained in the service of the  Employer or to interfere with the right of the Employer to discipline or discharge any  Participant at any time.  7.Validity  . If any provision of this Plan shall be held illegal or invalid for any reason, said  illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be  construed and enforced, in a manner intended to result in Section 409A Compliance, as if  such illegal and invalid provision had never been inserted herein.  8.Incompetency  . If the Committee determines in its discretion that a payment under the Plan is to be  paid to a minor, a person declared incompetent or a person incapable of handling the  disposition of such person’s property, the Committee may direct payment of such benefit to  the guardian, legal representative or person having the care and custody of such minor,  incompetent or incapable person. Any payment of a             benefit shall be a payment for the account of the Participant and the Participant’s  Beneficiary, as the case may be, and shall be a complete discharge of any liability under the  Plan for such payment amount.  9.Successors  . The provisions of this Plan shall bind and inure to the benefit of the Employer and  its successors and assigns, and the Employer shall require all its successors and assigns to  

 

expressly assume its obligations hereunder. The term “successors,” as used herein, shall  include any corporate or other business entity which shall, whether by merger,  consolidation, purchase or otherwise, acquire all or substantially all of the business and  assets of the Employer.  10.Tax Withholdings  . The Employer shall have the right to deduct from payments made pursuant to the  Plan amounts sufficient to satisfy federal, state and local income and/or employment tax  withholding requirements.  11.Governing Law  . The provisions of this Agreement shall be construed and interpreted according to  the laws of the Commonwealth of Massachusetts except as preempted by federal law.    IN WITNESS WHEREOF, the Employer has caused this instrument to be executed by  its duly authorized officer on the 22nd day of December, 2014.                              State Street Corporation            by ___/s/ Todd Gershkowitz_________            Todd Gershkowitz  Executive Vice President  Head of Global Total Rewards                       

 

  EXHIBIT A            The terms and conditions in this Exhibit A shall apply to the Supplemental  Defined Benefits of Continuing Participants. Except as otherwise defined in this Exhibit A,  capitalized terms shall have the meaning given to such terms in Article 2 of the Plan.  Article A.1    Definitions.  A.1.1    Actuarially Equivalent  . A benefit is “Actuarially Equivalent” to or the “Actuarial Equivalent” of a benefit  payable in a different form or at a different time if the two benefits are of actuarially  equivalent value as determined by the Administrator in Section 409A Compliance based  upon a computation by an actuary chosen by the Administrator using the actuarial  assumptions with respect to the Basic Plan.  A.1.2    Additional Company Benefit  . “Additional Company Benefit” means the annual Employer-provided retirement  supplemental benefits, in each case expressed in the form of a single life annuity, as  determined by the Administrator, that are payable to a Continuing Participant at age 65  under the Additional Company Benefit Plans applicable to the Continuing Participant, if  any, determined as follows:  (i) if the Additional Company Benefit Plan is a defined benefit or funded  retirement plan, the retirement benefit shall be the Continuing  Participant’s benefit accrued as of December 31, 2007, where such  accrued benefit includes future cost of living increases at 3.25% from  December 31, 2007 through age 65 and reduced to an Actuarially  Equivalent non-escalating life annuity (where such escalation would  be assumed at 3.25%); and  (ii) if the Additional Company Benefit Plan is a defined contribution  retirement plan, the retirement benefit shall be a projected benefit at  age 65, based on the Continuing Participant’s account balance  thereunder as of December 31, 2007, assuming 7.0% annual returns,  and converted to an age 65 annuity using mortality and interest rates  under Section 417(e) of the Code in effect on the applicable Freeze  Date.  A.1.3    Additional Company Benefit Plans  

 

. “Additional Company Benefit Plans” means the following Employer-sponsored retirement  benefit plans and any other Employer-sponsored Company plan so designated by the  Committee:   (iii) Mandatory Provision Fund - Dresdner RCM MPF Plan (Hong Kong);  (iv) State Street Superannuation Plan (Australia);  (v) State Street Switzerland Pension Plan for Senior Management; and  (vi) State Street UK Pension & Life Assurance Plan.  A.1.4    Basic Plan Offset  . “Basic Plan Offset” means the annual benefit, expressed in the form of a single  life annuity as determined by the Administrator payable to a Continuing Participant from  the Basic Plan that is the greater of (i) the Continuing Participant’s Grandfathered Benefit  (as defined under Section 4.6 of the Basic Plan), if any, thereunder payable at age 65 or  (ii) the Continuing Participant’s Cash Balance Benefit (as defined under the Basic Plan)  based on the Continuing Participant’s account balance as of December 31, 2007 projected  to age 65, assuming a 5% interest rate, and converted to an age 65 annuity using mortality  and interest rates under Section 417(e) of the Code in effect on the Freeze Date; provided,             however, that the Cash Balance Account of a Transition Participant under the foregoing  clause (ii) shall be increased on a notional basis until the Freeze Date applicable to the  Transition Participant by deemed Basic Credits (as defined under the Basic Plan) that  would have been contributed to the Cash Balance Account of the Transition Participant  pursuant to Section 4.4 of the Basic Plan had the Basic Plan not been frozen and credited  with 5% interest. For the avoidance of doubt, any Basic Credits under Section 4.4(b) of the  Basic Plan credited to the Cash Balance Account of a Continuing Participant shall not be  included in the Basic Plan Offset.  A.1.5    Earnings  . “Earnings” means the following:  (a) For years prior to 2007, a Continuing Participant’s annualized  rate of base salary as of January 1 of that year and annual  incentive compensation under the Employer’s annual incentive  plan relating to performance in the prior fiscal year, regardless  of when paid.  (b) For 2007 and any year thereafter including the applicable  Freeze Date, a Continuing Participant’s annualized rate of base  salary as of January 1 of that year and annual incentive  

 

compensation awards under the incentive plan applicable to  the Continuing Participant relating to performance in the prior  fiscal year and, in the case of members of the Operating Group,  the annual incentive compensation awarded or paid under the  Senior Executive Annual Incentive Plan (“SEAIP”) or any  successor thereto, regardless of whether or when awarded or  paid.  (c) In lieu of other amounts, the calculation of the amount of  annual incentive award to be included for purposes of  determining “Earnings” through January 1, 2008, with respect  to a Continuing Participant who was employed by SSgA in an  SSgA Plan shall be the lesser of (i) his or her actual annual  incentive cash bonus or (ii) the percentage of base pay earned  for the respective year as determined by the Administrator and  recorded in the records of the Company.  (d) For the avoidance of doubt, prior to January 1, 2007,  “Earnings” shall not include any long-term incentive awards.  A.1.6    Final Average Earnings  . “Final Average Earnings” means, for any Continuing Participant, the average  annual Earnings amount obtained by averaging the Continuing Participant’s Earnings over  the five-consecutive-year period during the last ten years of such Continuing Participant’s  Employment ending with the applicable Freeze Date which yields the highest such annual  average. A Continuing Participant’s annual Earnings after the applicable Freeze Date shall  not be taken into account for any purpose under the Plan.  A.1.7    Freeze Date  . “Freeze Date” means (i) with respect to a Continuing Participant other than a  Transition Participant, the Effective Date; and (ii) with respect to a Transition Participant,  (x) January 1, 2010 or (y) such other date as may be specified in a schedule to this  Exhibit A.  A.1.8    Indexing End Date            . “Indexing End Date” means, with respect to a Continuing Participant, the first to  occur of (i) the date of the Continuing Participant’s Separation From Service, Total  Disability or death or (ii) December 31, 2017.  A.1.9    MSRP Benefit  

 

. “MSRP Benefit” means the annual retirement supplemental benefits, expressed  in the form of a single life annuity as determined by the Administrator, that are payable to a  Continuing Participant under the State Street Corporation Management Supplemental  Retirement Plan (the “MSRP”) of (i) the Continuing Participant’s Grandfathered Benefit (as  provided under the MSRP), if any, thereunder payable at age 65 or (ii) the Continuing  Participant’s Cash Balance Account (as provided under the MSRP) based on the Continuing  Participant’s account balance as of December 31, 2007 projected to age 65, assuming a 5%  interest rate, and converted to an age 65 annuity using mortality and interest rates under  Section 417(e) of the Code in effect the applicable Freeze Date; provided, however, that the  Cash Balance Account of a Transition Participant under the foregoing clause (i) shall be  increased on a notional basis until the Freeze Date applicable to the Transition Participant  by deemed Basic Credits (as provided under the MSRP) that would have been contributed  to the Cash Balance Account of the Transition Participant had the MSRP not been frozen  and credited with 5% interest.  A.1.10    Other Retirement Income  . “Other Retirement Income” means the sum of the following:  (e)the Basic Plan Offset; plus  (f)the MSRP Benefit; plus  (g)any Additional Company Benefit; plus  (h)any retirement income payable under plans of a Continuing Participant’s  employers other than the Employer, as identified by the Administrator and recorded in the  records of the Company in accordance with the Administrative Procedures and expressed  in the form of a single life annuity, as determined by the Administrator in a manner that  results in Section 409A Compliance.  A.1.11    SSgA  . “SSgA” means the State Street Global Advisors business unit of the Company.  A.1.12    SSgA Plans  . “SSgA Plans” means the SSgA annual incentive plan for each of the years 2003,  2004, 2005, 2006 and 2007.  Article A.2    Supplemental Defined Benefits.  A.2.1    Eligibility for Supplemental Defined Benefits.  (i)A Participant is eligible to receive a Supplemental Defined Benefit under the Plan  only if he or she is a Continuing Participant. No Eligible Employee (i) who was not a  Continuing Participant on December 31, 2007 or (ii) who is hired or rehired by the  Employer on or after the Effective Date shall become eligible to receive a Supplemental  Defined Benefit.  (j)Effective as of the applicable Freeze Date, the Supplemental Defined Benefit of a  Continuing Participant shall be frozen such that (i) any annual Earnings of a Continuing  

 

Participant after the applicable Freeze Date shall not be taken into account for any purpose  under             the Plan and (ii) no additional Supplemental Defined Benefit shall accrue on or after the  applicable Indexing End Date on behalf of a Continuing Participant or any other individual.  A.2.2    Normal Retirement  . Subject to the terms of the Plan (including this Exhibit A and Exhibit B), the  annual Supplemental Defined Benefit payable to a Continuing Participant in connection  with Normal Retirement, expressed as a single life annuity commencing at the later of (i)  Normal Retirement Age or (ii) the Continuing Participant’s Normal Retirement Date, shall  equal either (a) or (b) below, whichever shall be applicable, minus (c) below, increased by  the factors in (d) below, and adjusted pursuant to (e) below:  (k)For a Continuing Participant who was first elected an Executive Vice President (or  to a superior position) prior to March 1, 2000, 50% of the Continuing Participant’s Final  Average Earnings.  (l)For a Continuing Participant who was first elected an Executive Vice President (or  to a superior position) on or after March 1, 2000, 2.5% of the Participant’s Final Average  Earnings multiplied by the Continuing Participant’s years of Service prior to the applicable  Freeze Date, but not more than 20 years of such Service, shall be taken into account.  (m)Other Retirement Income, as accrued or as deemed to be accrued under the  respective plans as of the earlier to occur of (i) the Freeze Date and (ii) the date of the  Continuing Participant’s Separation From Service.  (n)Three percent for each whole calendar year following the applicable Freeze Date  until the Continuing Participant’s Indexing End Date, plus an additional amount equal to  the product of (i) the excess of whole calendar months elapsed prior to the Indexing End  Date for the Plan Year in which the Indexing End Date occurs over twelve and (ii) 3%.  (o)Where the pre-offset benefit is determined under (b), the benefit amount  determined by subtracting (c) from (b) and increased by (d) (the “unadjusted benefit”)  shall be multiplied by (A) one-third (33.3%) if the Continuing Participant’s Separation  From Service is prior to attainment of his or her birthday next following the date (the  “age/service eligibility date”) on which the Continuing Participant first satisfied the age and  service requirements of Section 3.3 of the Plan; (B) two-thirds (66.7%) if the Continuing  Participant’s Separation From Service is on or after attainment of such first birthday  following the age/service eligibility date, but before attainment of his or her second  birthday following such date; and (C) one (100%) in every other case.  

 

A.2.3    Early Retirement.  (p)Subject to the terms of the Plan (including this Exhibit A and Exhibit B), the  annual Supplemental Defined Benefit payable in connection with Early Retirement to a  Continuing Participant who on January 1, 2005 had reached the age of 55, completed ten  years of Service and previously been elected an Executive Vice President (or to a superior  position), expressed as a single life annuity commencing as of the Continuing Participant’s  Early Retirement Date, shall equal (i) reduced by the factors in (ii), and further where:  (i) the supplemental benefit determined under Section A.2.2 above,  reduced by:  (ii) the sum of (A) and (B) below:  (A) .0833% for each whole calendar month by which the  Continuing Participant’s Early Retirement Date  commencement precedes his or her 65th birthday, excluding  any period prior to the Continuing Participant’s 60th birthday;  and  (B) .2083% for each whole calendar month by which the  Continuing Participant’s Early Retirement Date precedes his or  her 60th birthday.            (q)Subject to the terms of the Plan (including this Exhibit A and Exhibit B), the  annual Supplemental Defined Benefit in connection with Early Retirement of a Continuing  Participant who as of January 1, 2005 had not both reached the age of 55 and completed  ten years of Service, expressed as a single life annuity commencing as of the Continuing  Participant’s Early Retirement Date, shall equal the benefit determined under A.2.3(a)  above except that in lieu of the reductions described in Section A.2.3(a)(ii) above, the  Supplemental Defined Benefit determined under Section A.2.2 above shall be reduced by  0.25% for each whole calendar month by which the Continuing Participant’s Early  Retirement Date precedes his or her 65th birthday.  (r)Notwithstanding the above, with respect to a Transition Participant, if Early  Retirement occurs prior to the applicable Freeze Date, the reductions in (a) and (b) will  apply to the pre-offset benefit as defined in A.2.2(a) and A.2.2(b) and the offsets for Other  Retirement Income as defined in A.2.2(c) will be computed on an early retirement basis in  accordance with the provisions of the plan or plans providing such Other Retirement  Income; provided, however, that if such Additional Company Benefit Plan (or Additional  Company Benefit Plans) does/do not contain provisions for early retirement, or such  

 

provisions are not ascertainable as of the date of determination, the Committee shall  determine the actuarial equivalence basis to be used for such purpose. For this purpose,  the Basic Plan and MSRP Cash Balance Accounts will be increased on a notional basis from  December 31, 2007 until Early Retirement by deemed Basic Credits that would have been  contributed to the Cash Balance Accounts of the Transition Participant had the Basic Plan  and MSRP not been frozen and credited with 5% interest through Early Retirement. The  offsets so computed will be subtracted from the reduced preoffset benefit.  A.2.4    Death Before Retirement Eligibility  . If a Continuing Participant dies under the circumstances described in  Section 3.4, a Supplemental Defined Benefit shall be paid to his or her designated  Beneficiary which equals the amount derived by multiplying (a) times (b) times (c), where  (a) equals the net amount calculated under either Section A.2.2, as if the Continuing  Participant’s Normal Retirement Date was the date of his or her death (determined without  the adjustments described in Section A.2.2(e)); (b) equals a fraction of which the  numerator is the sum of the Continuing Participant’s age at his or her date of death plus the  number of completed years of Service prior to the applicable Freeze Date and the  denominator is 85; and (c) equals 50%. Payment shall be made in an Actuarially Equivalent  single lump sum cash distribution within 90 days following the date of the Continuing  Participant’s death.  A.2.5    Total Disability Before Retirement Eligibility  . If a Continuing Participant becomes Totally Disabled as described in Section 3.5,  a Supplemental Defined Benefit shall be paid to him or her equal to the product of (a) and  (b) where (a) equals the amount calculated under either Section A.2.2, as if the Continuing  Participant’s Normal Retirement Date was on the date on which he or she became Totally  Disabled (determined without the adjustments described in Section A.2.2(e)), and  (b) equals a fraction the numerator of which is the sum of the Continuing Participant’s age  at the date he or she became Totally Disabled plus the number of completed years of  Service prior to the applicable Freeze Date and the denominator of which is 85. A  Continuing Participant’s Supplemental Defined Benefit shall be paid in cash in three equal  installment payments, which in the aggregate, are the Actuarial Equivalent of the  Supplemental Defined Benefit as of the Continuing Participant’s Total Disability Date,  provided the Continuing Participant has remained Totally Disabled through the first date of  payment. The first installment payment shall be made by the later of (A) the fifteenth day of  the third month coinciding with or following the date on which the Continuing Participant  becomes Totally Disabled, or (B) the end of the calendar year in which the Continuing  Participant becomes Totally Disabled, and the remaining installment payments shall be  made       

 

      on the first Business Day of the month coinciding with or following the first and second  anniversaries of the first installment payment date, or, in each case, as soon as  administratively feasible thereafter in a manner that is consistent with Section 409A  Compliance.  A.2.6    Distribution Following Retirement Eligibility.  (s)Retirement. In the event of a Continuing Participant’s Retirement after satisfying  the age and service requirements of Section 3.3, a Continuing Participant’s Supplemental  Defined Benefit shall be paid in cash in three equal installment payments which, in the  aggregate, are the Actuarial Equivalent of the Supplemental Defined Benefit as of the  Continuing Participant’s Retirement Date. The installment payments shall be made on the  following dates: (i) the first Business Day of the month coinciding with or following the  date that is six months after the Continuing Participant’s Retirement Date; (ii) the first  Business Day of the month coinciding with or following the first anniversary of the  Continuing Participant’s Retirement Date, and (iii) the first Business Day of the month  coinciding with or following the second anniversary of the Continuing Participant’s  Retirement Date, or, in each case, as soon as administratively feasible thereafter in a  manner that is consistent with Section 409A Compliance.  (t)Death.  (i) Death Benefits. Upon the death of a Continuing Participant after  satisfying the age and service requirements of Section 3.3, but before  commencement of benefit payments, a death benefit shall be payable  to the Continuing Participant’s designated Beneficiary. The amount of  such death benefit shall be the Actuarial Equivalent of 50% of the  Continuing Participant’s Supplemental Defined Benefit calculated  pursuant to Section A.2.2 (determined without the adjustments  described in Section A.2.2(e)), payable as an Actuarially Equivalent  single lump sum cash distribution within 90 days following the date of  the Continuing Participant’s death.  (ii) Commutation Due to Death. Upon the death of a Continuing Participant  who is receiving the distribution of his or her accrued Supplemental  Defined Benefit pursuant to Section A.2.6(a), the Committee shall  commute any or all remaining payments by paying the remainder of  the accrued Supplemental Defined Benefit to the Continuing  Participant’s Beneficiary in an Actuarially Equivalent single lump sum  cash distribution within 90 days following the date of the Continuing  Participant’s death.  

 

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

 

  EXHIBIT B              Schedule 1  (2005 Restatement)  Section 3.2(c) Separate Rules Applicable to J. Hooley  Status: Active  Participation Date: September 1, 2000  Section A.2.2 Supplemental  Defined Benefit at Normal  Retirement:  Subject to the terms of the Plan, Exhibit A, and the Special Benefit  hereafter described, the supplemental benefit under Section A.2.2 of  the Plan shall be the benefit set forth in this Schedule 1 of Exhibit B.  Special  Benefit:  The Participant’s Special Benefit under the Plan and Exhibit A shall be  equal to his cash balance account benefit which shall consist of an  opening cash balance account in the sum of $500,000 as of  September 1, 2000 and earnings credited thereafter in the same  percentage and in the same manner as though such cash balance  account were provided under the terms of the Basic Plan. There shall  be no additional contributions to this “cash balance account.”     If the Participant’s benefit under the Plan is subsequently determined  under the generally applicable rules of the Plan, the value of the  Special Benefit set forth above shall be payable in addition to such  generally applicable Plan benefit.     The Special Benefit is in addition to any Supplemental Benefits under  the Plan and Exhibit A.  Section A.2.2(e)  Applicability:  The offset for Other Retirement Income is not applicable to the Special  Benefit pursuant to this Schedule 1 of Exhibit B.  Age/Service Requirements:  The Participant’s prior years of service with the Employer as well as  the Participant’s years of service with Boston Financial Data Services  shall be considered as Service hereunder.     The age and service requirements to qualify for a benefit set forth in  Section A.2.2 of the Plan above are as follows:     (1)The Service requirement of completion of ten full years of  Employment is satisfied by the recognition of prior Service above.     (2)There is no age requirement to qualify for the Special Benefit  pursuant to this Schedule 1 of Exhibit B.        

 

EXHIBIT B  Schedule 3  (2008 Restatement)  Section 3.2(c) Separate Rules for Jeffrey N. Carp            Status: Active  Participation Date:  January 3, 2006. For the avoidance of doubt, the Participant’s accruals  under the Plan commenced on January 3, 2006.  Freeze Date:  For purposes of the Plan and Exhibit A, the “Freeze Date” applicable to  the Participant is December 31, 2013.  Age/Service Requirements:  The age and service requirements under Section 3.3 of the Plan are  deemed satisfied as of January 3, 2006.  Section 3.6  Forfeitures:  For purposes of the Plan and Exhibit A, the application of  Section 3.6(b) shall be limited to employment with the  following companies (and their respective parents,  subsidiaries and affiliates): The Bank of New York Mellon  Corporation, Deutsche Bank AG, JP Morgan Chase & Co.,  Northern Trust Corporation, Bank of America Corporation  and Marsh & McLennan Companies. For the avoidance of  doubt, Section 8 of the Amended and Restated  Employment Agreement between the Company and the  Participant (the “Employment Agreement”) shall apply and  shall supersede Section 3.6 the during the Employment  Period (as defined therein).  Final Average Earnings:  For purposes of the Plan and Exhibit A, “Final Average Earnings” shall  not be less than the Participant’s Earnings for the Plan Year that  commenced on January 1, 2006.    Section A.2.2  Supplemental Defined  Benefit at Normal  Retirement:  Subject to the terms of the Plan and Exhibit A, the maximum  Supplemental Defined Benefit under Section A.2.2 of the Plan before  offsets shall be equal to 20% of the Participant’s Final Average  Earnings, provided that the foregoing shall not serve to limit any  amounts payable in respect of the Plan, Exhibit A and this Schedule  pursuant to the Employment Agreement.   Section A.2.3  Supplemental Defined  Benefit at Early  Retirement:  Subject to the terms of the Plan and Exhibit A, the maximum  Supplemental Defined Benefit under Section A.2.3 of the Plan before  offsets shall be equal to 20% of the Participant’s Final Average  Earnings, provided that the foregoing shall not serve to limit any  amounts payable in respect of the Plan, Exhibit A and this Schedule  pursuant to the Employment Agreement.          

 

    Other Retirement  Income:  For purposes of the Plan and Exhibit A, subsection (d) of the definition  of “Other Retirement Income” shall not be applicable to the  Participant.  Section A.2.2 Supplemental  Defined Benefit at Normal  Retirement:  Subject to the terms of the Plan and Exhibit A, the  maximum Supplemental Defined Benefit under Section  A.2.2 of the Plan before offsets shall be equal to 20% of the  Participant’s Final Average Earnings, provided that in the  event that a Change of Control (as defined in the  Employment Agreement) occurs on or prior to the Freeze  Date, the Participant’s Supplemental Defined Benefit shall  be calculated under Section A.2.2 without regard to such  20% limit and the Participant shall be deemed to have  accrued an additional three years of age and Service; and  provided further that the foregoing shall not serve to limit  any amounts payable in respect of the Plan, Exhibit A and  this Schedule pursuant to the Employment Agreement.   Section A.2.3 Supplemental  Defined Benefit at Early  Retirement:  Subject to the terms of the Plan and Exhibit A, the  maximum Supplemental Defined Benefit under Section  A.2.3 of the Plan before offsets shall be equal to 20% of the  Participant’s Final Average Earnings, provided that in the  event that a Change of Control (as defined in the  Employment Agreement) occurs on or prior to the Freeze  Date, the Participant’s Supplemental Defined Benefit shall  be calculated under Section A.2.3 without regard to such  20% limit and the Participant shall be deemed to have  accrued an additional three years of age and Service; and  provided further that the foregoing shall not serve to limit  any amounts payable in respect of the Plan, Exhibit A and  this Schedule pursuant to the Employment Agreement.   Section A.2.2(c)  Applicability:  The offset for Other Retirement Income is applicable to the benefit  under Section A.2.2 of the Plan.  Amendment/  Termination:  No amendment or termination of the Plan, Exhibit A and this Schedule  or, taking any other action, shall, in any material manner, reduce or  adversely affect the Participant’s accrued benefits or entitlement  thereto without the consent of the Participant.         EXHIBIT C  CLAIMS PROCEDURES  STATE STREET CORPORATION  DEFERRED COMPENSATION PLAN CLAIMS PROCEDURES  (Amended and Restated Effective January 1, 2008)  

 

These Claims Procedures for filing and reviewing claims have been established and  adopted for the State Street Corporation Executive Supplemental Retirement Plan (the  “Plan”) and are intended to comply with Section 503 of ERISA and related Department of  Labor regulations. These amended and restated Claims Procedures are effective for claims  made under the Plan on or after January 1, 2008.  1. In General  . Any employee or former employee, or any person claiming to be a beneficiary with  respect to such a person, may request, with respect to the Plan:  a) a benefit payment,            b) a resolution of a disputed amount of benefit payment, or  c) a resolution of a dispute as to whether the person is entitled to the particular  form of benefit payment.  A request described above and filed in accordance with these Procedures is a claim, and the  person on whose behalf the claim is filed is a claimant. A claim must relate to a benefit  which the claimant asserts he or she is already entitled to receive or will become entitled to  receive within one year following the date the claim is filed.  2. Effect on Benefit Requests in Due Course  . The Plan has established procedures for benefit applications, selection of benefit forms,  and designation of beneficiaries, determination of qualified domestic relations orders, and  similar routine requests and inquiries relating to the operation of the Plan.  3. Filing of Claims.  a) Each claim must be in writing and delivered by hand or first-class mail  (including registered or certified mail) to the Administrator, at the following  address:  GHR U.S. Benefits Planning  State Street Corporation  c/o Vice President, GHR-U.S. Benefits Planning  One Lincoln Street, 14th Floor  Boston, MA 02111  A claim must clearly state the specific outcome being sought by the claimant.  b) The claim must also include sufficient information relating to the identity of  the claimant and such other information reasonably necessary to allow the  claim to be evaluated.  

 

c) In no event may a claim for benefits be filed by a Claimant more than 120  days after the applicable “Notice Date,” as defined below.  i) In any case where benefits are paid to the Claimant as a lump sum, the  Notice Date shall be the date of payment of the lump sum.  ii) In any case where benefits are paid to the Claimant in the form of an  annuity or installments, the Notice Date shall be the date of payment  of the first installment of the annuity or payment of first installment.  iii) In any case where the Plan (prior to the filing of a claim for benefits)  determines that an individual is not entitled to benefits (for example  (without limitation) where an individual terminates employment and  the Plan determines that he has not vested) and the Plan provides  written notice to such person of its determination, the Notice Date  shall be the date of the individual’s receipt of such notice.  iv) In any case where the Plan provides an individual with a written  statement of his account as of a specific date or the amounts credit to,  or charged against, his account within a specified period, the Notice  Date with regard to matters described in such statement shall be the  date of the receipt of such notice by such individual (or beneficiary).  4.Processing of Claims  . A claim normally shall be processed and determined by the Administrator within a  reasonable time (not longer than 90 days) following actual receipt of the claim. However, if  the Administrator determines that             additional time is needed to process the claim and so notifies the claimant in writing within  the initial 90-day period, the Administrator may extend the determination period for up to  an additional 90 days. In addition, where the Administrator determines that the extension  of time is required due to the failure of the claimant to submit information necessary in  order to determine the claim, the period of time in which the claim is required to be  considered pursuant to this Paragraph 4 shall be tolled from the date on which notification  of the extension is sent to the claimant until the date on which the claimant responds to the  request for additional information. Any notice to a claimant extending the period for  considering a claim shall indicate the circumstances requiring the extension and the date  by which the Administrator expects to render a determination with respect to the claim.  The Administrator shall not process or adjudicate any claim relating specifically to his or  her own benefits under the Plan.  

 

5. Determination of Claim  . The Administrator shall inform the claimant in writing of the decision regarding the claim  by registered or certified mail posted within the time period described in Paragraph 4. The  decision shall be based on governing Plan documents. If there is an adverse determination  with respect to all or part of the claim, the written notice shall include:  a) the specific reason or reasons for the denial,  b) reference to the specific Plan provisions on which the denial is based,  c) a description of any additional material or information necessary for the  claimant to perfect the claim and an explanation of why such material or  information is necessary,  d) reference to and a copy of these Procedures, so as to provide the claimant  with a description of the relevant Plan’s review procedures and the time  limits applicable to such procedures, a description of the claimant’s rights  regarding documentation as described in Paragraph 9, and  e) a statement of the claimant’s rights under Section 502(a) of ERISA to bring a  civil action with respect to an adverse determination upon review of an  appeal filed under Paragraph 6.  For purposes of these Procedures, an adverse determination shall mean determination of a  claim resulting in a denial, reduction, or termination of a benefit under a Plan, or the failure  to provide or make payment (in whole or in part) of a benefit or any form of benefit under a  Plan. Adverse determinations shall include denials, reductions, etc., based on the claimant’s  lack of eligibility to participate in the relevant Plan. All decisions made by the  Administrator under these Procedures shall be summarized in a report to be maintained in  the files of the Administrator. The report shall include reference to the applicable  governing Plan provision(s) and, where applicable, reference to prior determinations of  claims involving similarly situated claimants.  6. Appeal of Claim Denials - Appeals Committee  . A claimant who has received an adverse determination of all or part of a claim shall have  60 days from the date of such receipt to contest the denial by filing an appeal. An appeal  must be in writing and delivered to the Administrator. An appeal will be considered timely  only if actually received by the Administrator within the 60-day period or, if sent by mail,  postmarked within the 60-day period. The timely review will be completed by the Appeals  Committee and should be sent to:  Appeals Committee  State Street Corporation  c/o Vice President, GHR-U.S. Benefits Planning  2 Avenue de Lafayette, LCC 1E       

 

      Boston, MA 02111-1724  The Appeals Committee shall meet at such times and places as it considers appropriate,  shall keep a record of such meetings and shall periodically report its deliberations to the  Administrator. Such reports shall include the basis upon which the appeal was determined  and, where applicable, reference to prior determinations of claims involving similarly  situated claimants. The vote of a majority of the members of the Appeals Committee shall  decide any question brought before the Appeals Committee.  7. Consideration of Appeals  . The Appeals Committee shall make an independent decision as to the claim based on a full  and fair review of the record. The Appeals Committee shall take into account in its  deliberations all comments, documents, records and other information submitted by the  claimant, whether submitted in connection with the appeal or in connection with the  original claim, and may, but need not, hold a hearing in connection with its consideration of  the appeal. The Appeals Committee shall consider an appeal within a reasonable period of  time, but not later than 60 days after receipt of the appeal, unless the Appeals Committee  determines that special circumstances (such as the need to hold a hearing) require an  extension of time. If the Appeals Committee determines that an extension of time is  required, it will cause written notice of the extension, including a description of the  circumstances requiring an extension and the date by which the Appeals Committee  expects to render the determination on review, to be furnished to the claimant before the  end of the initial 60-day period. In no event shall an extension exceed a period of 60 days  from the end of the initial period; provided, that in the case of any extension of time  required by the failure of the claimant to submit information necessary for the Appeals  Committee to consider the appeal, the period of time in which the appeal is required to be  considered under this Paragraph 7 shall be tolled from the date on which notification of the  extension is sent to the claimant until the date on which the claimant responds to the  Appeals Committee’s request for additional information.  8. Resolution of Appeal  . Notice of the Appeals Committee’s determination with respect to an appeal shall be  communicated to the claimant in writing by registered or certified mail posted within the  time period described in Paragraph 7. If the determination is adverse, such notice shall  include:  a) the specific reason or reasons for the adverse determination,  b) reference to the specific plan provisions on which the adverse determination  was based,  

 

c) reference to and a copy of these Procedures, so as to provide the claimant  with a description of the claimant’s rights regarding documentation as  described in Paragraph 9, and  d) a statement of the claimant’s rights under Section 502(a) of ERISA to bring a  civil action with respect to the adverse determination.  9.Certain Information  . In connection with the determination of a claim or appeal, a claimant may submit written  comments, documents, records and other information relating to the claim and may  request (in writing) copies of any documents, records and other information relevant to the  claim. An item shall be deemed relevant to a claim if it:  a) was relied on in determining the claim,  b) was submitted, considered or generated in the course of making such  determination (whether or not actually relied on), or  c) demonstrates that such determination was made in accordance with  governing Plan documents (including, for this purpose, these Procedures)  and that, where appropriate, Plan provisions have been applied consistently  with similarly situated claimants.            The Administrator shall furnish free of charge copies of all relevant documents, records  and other information so requested; provided, that nothing in these Procedures shall  obligate the Company, the Administrator, or any person or committee to disclose any  document, record or information that is subject to a privilege (including, without limitation,  the attorney-client privilege) or the disclosure of which would, in the Administrator’s  judgment, violate any law or regulation.  10. Rights of a Claimant Where Appeal is Denied  .  a) The claimant’s actual entitlement, if any, to bring suit and the scope of and  other rules pertaining to any such suit shall be governed by, and subject to  the limitations of, applicable law, including ERISA. By extending to an  employee or former employee the right to file a claim under these  Procedures, neither the Company nor any person or committee appointed as  Administrator acknowledges or concedes that such individual is a participant  in any particular Plan within the meaning of such Plan or ERISA, and reserves  the right to assert that an individual is not a participant in any action brought  under Section 502(a).  

 

b) In no event may any legal proceeding regarding entitlement to benefits or  any aspect of benefits under the Plan be commenced later than the earliest  of:  i) two years after the applicable Notice Date; or  ii) one year after the date a claimant receives a decision from the  Appeals Committee regarding his appeal; or  iii) the date otherwise prescribed by applicable law.  c) Before any legal proceeding can be brought, a participant must exhaust the  claim appeals procedures as set forth herein.  11.Special Rules Regarding Disability  . Certain benefits under the Plans are contingent upon an individual’s incurring a disability.  Where a claim requires a determination by the Company as to whether an individual is  “disabled” as defined under the Plan, the additional rules set forth in Schedule 1 to these  Procedures shall apply to the claim.     State Street to provide. However, where disabled status is  based upon actual entitlement to benefits under a separate plan in which the individual  participates or is otherwise covered, the determination of such status for purposes of each  Plan shall be made under such separate disability plan, and any claims or disputes as to  disabled status under such plan or program shall be resolved in accordance with the  procedures established for that purpose under the separate plan or program.  12. Authorized Representation  . A claimant may authorize an individual to represent him/her with respect to a claim or  appeal made under these Procedures. Any such authorization shall be in writing, shall  clearly identify the name and address of the individual, and shall be delivered to the Plan  Administrator at the address listed in Paragraph 3. On receipt of a letter of authorization,  all parties authorized to act under these Procedures shall be entitled to rely on such  authorization, until similarly revoked by the claimant. While an authorization is in effect, all  notices and communications to be provided to the claimant under these Procedures shall  also be provided to his/her authorized representative.  13. Form of Communications  . Unless otherwise specified above, any claim, appeal, notice, determination, request, or  other communication made under these Procedures shall be in writing, with original  signed copy delivered by hand or first class mail (including registered or certified mail). A  copy or advance delivery of any such claim, appeal, notice, determination, request, or other  communication may be made by electronic mail or facsimile. Any such electronic or  facsimile communication, however, shall be for the convenience of the           

 

  parties only and not in substitution of a writing required to be mailed or delivered under  these Procedures, and receipt or delivery of any such claim, appeal, notice, determination,  request, or other written communication shall not be considered to have been made until  the actual posting or receipt of original signed copy, as the case may be.  14. Reliance on Outside Counsel, Consultants, etc.  The Administrator and the Appeals Committee may rely on or take into account advice or  information provided by such legal, accounting, actuarial, consulting or other professionals  as may be selected in determining a claim or appeal, including those individuals and firms  that may render advice to the Company or the Plans from time to time.             

 

        FIRST AMENDMENT  TO THE  STATE STREET CORPORATION   EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN      Pursuant to the provisions of Section 7.1 of the State Street Corporation Executive  Supplemental Retirement Plan, Amended and Restated January 1, 2015 (the “Plan”), State  Street Corporation as plan sponsor hereby amends the Plan as follows:   Effective for actions taken on or after January 1, 2016, the current Section 4.1 is amended in  its entirety as follows:  1. Company Credits  • .  (a)Generally. For Plan Years commencing on and after the Effective Date, an Active  Participant shall be entitled to receive Company Credits as follows:  (i) An Active Participant who was a Participant for an entire Plan  Year shall receive a Company Credit in the amount of $200,000  on the Annual Credit Date for the Plan Year to his or her  Account; provided, however, that the Company Credit received  under this Section 4.1(a)(i) for the 2013 Plan Year shall be in the  amount of $100,000 and shall not be provided to an Active  Participant who is an Operating Group Participant; provided,  further, there shall be no Company Credit under this Section  4.1(a)(i) for any Participant for the 2015 Plan Year or the 2016  Plan Year.  (ii) An Active Participant who became an Active Participant during  a Plan Year shall receive for such Plan Year a Company Credit  equal to the product of (x) $200,000 and (y) a fraction, the  numerator of which is the number of complete calendar months  in the Plan Year during which the Active Participant was an  Active Participant, and the denominator of which is twelve;  provided, however, that the Company Credit received under this  Section 4.1(a)(ii) for the 2013 Plan Year shall be equal to the  product of (x) $100,000 and (y) a fraction, the numerator of  which is the number of complete calendar months in the Plan   

 

          Year during which the Active Participant was an Active Participant but not an Operating  Group Participant, and the denominator of which is twelve; provided, further, there shall be  no Company Credit under this Section 4.1(a)(ii) for any Participant for the 2015 Plan Year  or the 2016 Plan Year. Any such Company Credit shall be credited to the Active Participant’s  Account on the Annual Credit Date for the relevant Plan Year.  (iii) An Active Participant who becomes a Separated Participant due  to Retirement, death or Total Disability during a Plan Year shall  receive a Company Credit equal to the product of (x) $200,000  and (y) a fraction, the numerator of which is the number of  complete calendar months in the Plan Year when such  Participant was an Active Participant prior to (I) the Active  Participant’s Retirement Date, (II) the date of the Active  Participant’s death or (III) the date the Active Participant  became Totally Disabled, as applicable, and the denominator of  which is twelve; provided, however, that the Company Credit  received under this Section 4.1(a)(iii) for the 2013 Plan Year  shall be equal to the product of (x) $100,000 and (y) a fraction,  the numerator of which is the number of complete calendar  months in the Plan Year when such Participant was an Active  Participant but not an Operating Group Participant prior to (I)  the Active Participant's Retirement Date, (II) the date of the  Active Participant's death or (III) the date the Active Participant  became Totally Disabled, as applicable, and the denominator of  which is twelve); provided, further, there shall be no Company  Credit under this Section 4.1(a)(iii) for any Participant for the  2015 Plan Year or the 2016 Plan Year. Any such prorated  Company Credit shall be credited to the Participant’s Account on  the last Business Day of the month in which the Participant’s  Retirement, death or Total Disability occurred (the “Final Credit  Date”).  (b)Operating Group Participants. An Operating Group Participant shall be entitled to  receive the following for Plan Years commencing on and after the Effective Date:  (i) An Active Participant who is an Operating Group Participant for  an entire Plan Year shall be granted on the Annual Credit Date  

 

for such Plan Year a deferred share unit award under the Equity  Plan (an “ESRP Share Award”) with a Fair Market Value on such  Annual Credit Date equal to $200,000; provided, however, there  shall be no ESRP Share Award under this Section 4.1(b)(i) for  the 2015 Plan Year or the 2016 Plan Year. The terms of the ESRP  Share Award shall, in a manner that results in Section 409A  Compliance, provide that the award will vest in accordance with  Section 4.3 of the Plan and the underlying shares of Stock will be  settled to the Operating Group Participant in accordance with  Section 4.4 of the Plan, subject, in each case, to Section 7 of the  Equity Plan or any successor provision. In addition, the ESRP  Share Award shall provide for dividend equivalents. The other  terms of the ESRP Share Award shall be governed by the Equity  Plan.  (ii) An Active Participant who is an Operating Group Participant for  a portion of a Plan Year, other than an Active Participant who  becomes a Separated Participant during the Plan Year, shall  receive an ESRP Share Award with a Fair Market Value on such  Annual Credit Date equal to the product of (x) $200,000 and (y)  a fraction, the numerator of which is the number of complete  calendar months in the Plan Year during which the Active  Participant was an Operating Group Participant and the  denominator of which is twelve; provided, however, there shall  be no ESRP Share Award under this Section 4.1(b)(ii) for             the 2015 Plan Year or the 2016 Plan Year. Any such ESRP Share Award shall be granted to  the Active Participant on the Annual Credit Date for the relevant Plan Year.  (iii) An Active Participant who becomes a Separated Participant due  to Retirement, death or Total Disability during a Plan Year at a  time when he/she is an Operating Group Participant, shall not  be entitled to an ESRP Share Award in respect of such Plan Year  but instead for the period of the Plan Year, if any, when the  Active Participant was an Operating Group Participant shall be  entitled to receive a Company Credit equal to the product of (x)  $200,000 and (y) a fraction, the numerator of which is the  

 

number of complete calendar months in the Plan Year when the  Active Participant was an Operating Group Participant prior to  (I) the Operating Group Participant's Retirement Date, (II) the  date of the Operating Group Participant's death or (III) the date  the Operating Group Participant became Totally Disabled, as  applicable, and the denominator of which is twelve; provided,  however, there shall be no Company Credit under this Section  4.1(b)(iii) for the 2015 Plan Year or the 2016 Plan Year. Any  such prorated Company Credit shall be credited to the  Participant's Account on the Final Credit Date.  For the avoidance of doubt, an Operating Group Participant shall also be entitled to Company  Credits pursuant to Section 4.1(a); provided, however that for the 2013 Plan Year, an  Operating Group Participant shall not be entitled to Company Credits pursuant to Section  4.1(a) for any period during a Plan Year when the Active Participant was an Operating Group  Participant; provided, further, there shall be no Company Credit under Section 4.1(a) for any  Participant for the 2015 Plan Year or the 2016 Plan Year.  (c)Transition Participants. Notwithstanding Section 4.1(a) and Section 4.1(b) above,  Company Credits (including any Final Company Credits) shall not be credited to the Account  of a Transition Participant and ESRP Share Awards shall not be granted to a Transition  Participant in respect of any period commencing prior to the Freeze Date applicable to the  Transition Participant. A Transition Participant shall continue to earn a Supplemental  Defined Benefit in accordance with the relevant terms of the Plan (including any Schedules  hereto) until the Freeze Date applicable to the Transition Participant.  (d)Adjustment by Committee. Notwithstanding anything to the contrary in Section  4.1(a) and 4.1(b) above, the Committee shall have the discretion to adjust, in a manner that  results in Section 409A Compliance: (i) the amount of a Company Credit (including any Final  Company Credits or ESRP Share Award credited or granted, as applicable, in respect of a  Participant’s status as an Active Participant or an Operating Group Participant for a portion  of a Plan Year); and (ii) the medium of settlement of an ESRP Share Award, in each case, to  the extent necessary to avoid adverse tax consequences to an Operating Group Participant;  provided, however, that in no event shall such adjustment diminish the economic benefit to  the Participant of a Company Credit or an ESRP Share Award without the Participant’s  consent.    IN WITNESS WHEREOF, State Street Corporation has caused this instrument to be executed  by its duly authorized officer this 20th day of January, 2016.         

 

State Street Corporation                      by:     /s/ Todd Gershkowitz             Todd Gershkowitz  Executive Vice President  Head of Global Total Rewards       

 

  SECOND AMENDMENT  TO THE  STATE STREET CORPORATION   EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN      Pursuant to the provisions of Section 7.1 of the State Street Corporation Executive  Supplemental Retirement Plan, Amended and Restated January 1, 2015 (the “Plan”), State  Street Corporation as plan sponsor hereby amends the Plan as follows:   Effective for actions taken on or after January 1, 2017, the current Section 4.1 is amended in  its entirety as follows:  2. Company Credits  • .  (e)Generally. For Plan Years commencing on and after the Effective Date, an Active  Participant shall be entitled to receive Company Credits as follows:  (i) An Active Participant who was a Participant for an entire Plan  Year shall receive a Company Credit in the amount of $200,000  on the Annual Credit Date for the Plan Year to his or her  Account; provided, however, that the Company Credit received  under this Section 4.1(a)(i) for the 2013 Plan Year shall be in the  amount of $100,000 and shall not be provided to an Active  Participant who is an Operating Group Participant; provided,  further, there shall be no Company Credit under this Section  4.1(a)(i) for any Participant for the 2015 Plan Year or any  subsequent Plan Year.  (ii) An Active Participant who became an Active Participant during  a Plan Year shall receive for such Plan Year a Company Credit  equal to the product of (x) $200,000 and (y) a fraction, the  numerator of which is the number of complete calendar months  in the Plan Year during which the Active Participant was an  Active Participant, and the denominator of which is twelve;  provided, however, that the Company Credit received under this  Section 4.1(a)(ii) for the 2013 Plan Year shall be equal to the  product of (x) $100,000 and (y) a fraction, the numerator of  which is the number of complete calendar months in the Plan  Year during which the Active Participant was an Active  Participant but not an Operating Group Participant, and the  

 

denominator of which is twelve; provided, further, there shall  be no Company Credit under this Section 4.1(a)(ii) for any  Participant for the 2015 Plan Year or any subsequent Plan Year.  Any such Company Credit shall be credited to the Active  Participant’s Account on the Annual Credit Date for the relevant  Plan Year.  (iii) An Active Participant who becomes a Separated Participant due  to Retirement, death or Total Disability during a Plan Year shall  receive a Company Credit equal to the product of (x) $200,000  and (y) a fraction, the numerator of which is the number of  complete calendar months in the Plan Year when such             Participant was an Active Participant prior to (I) the Active Participant’s Retirement Date,  (II) the date of the Active Participant’s death or (III) the date the Active Participant became  Totally Disabled, as applicable, and the denominator of which is twelve; provided, however,  that the Company Credit received under this Section 4.1(a)(iii) for the 2013 Plan Year shall  be equal to the product of (x) $100,000 and (y) a fraction, the numerator of which is the  number of complete calendar months in the Plan Year when such Participant was an Active  Participant but not an Operating Group Participant prior to (I) the Active Participant's  Retirement Date, (II) the date of the Active Participant's death or (III) the date the Active  Participant became Totally Disabled, as applicable, and the denominator of which is twelve);  provided, further, there shall be no Company Credit under this Section 4.1(a)(iii) for any  Participant for the 2015 Plan Year or any subsequent Plan Year. Any such prorated Company  Credit shall be credited to the Participant’s Account on the last Business Day of the month in  which the Participant’s Retirement, death or Total Disability occurred (the “Final Credit  Date”).  (f)Operating Group Participants. An Operating Group Participant shall be entitled to  receive the following for Plan Years commencing on and after the Effective Date:  (i) An Active Participant who is an Operating Group Participant for  an entire Plan Year shall be granted on the Annual Credit Date  for such Plan Year a deferred share unit award under the Equity  Plan (an “ESRP Share Award”) with a Fair Market Value on such  Annual Credit Date equal to $200,000; provided, however, there  shall be no ESRP Share Award under this Section 4.1(b)(i) for  the 2015 Plan Year or any subsequent Plan Year. The terms of  

 

the ESRP Share Award shall, in a manner that results in Section  409A Compliance, provide that the award will vest in  accordance with Section 4.3 of the Plan and the underlying  shares of Stock will be settled to the Operating Group  Participant in accordance with Section 4.4 of the Plan, subject,  in each case, to Section 7 of the Equity Plan or any successor  provision. In addition, the ESRP Share Award shall provide for  dividend equivalents. The other terms of the ESRP Share Award  shall be governed by the Equity Plan.  (ii) An Active Participant who is an Operating Group Participant for  a portion of a Plan Year, other than an Active Participant who  becomes a Separated Participant during the Plan Year, shall  receive an ESRP Share Award with a Fair Market Value on such  Annual Credit Date equal to the product of (x) $200,000 and (y)  a fraction, the numerator of which is the number of complete  calendar months in the Plan Year during which the Active  Participant was an Operating Group Participant and the  denominator of which is twelve; provided, however, there shall  be no ESRP Share Award under this Section 4.1(b)(ii) for the  2015 Plan Year or any subsequent Plan Year. Any such ESRP  Share Award shall be granted to the Active Participant on the  Annual Credit Date for the relevant Plan Year.  (iii) An Active Participant who becomes a Separated Participant due  to Retirement, death or Total Disability during a Plan Year at a  time when he/she is an Operating Group Participant, shall not  be entitled to an ESRP Share Award in respect of such Plan Year  but instead for the period of the Plan Year, if any, when the  Active Participant was an Operating Group Participant shall be  entitled to receive a Company Credit equal to the product of (x)  $200,000 and (y) a fraction, the numerator of which is the  number of complete calendar             months in the Plan Year when the Active Participant was an Operating Group Participant  prior to (I) the Operating Group Participant's Retirement Date, (II) the date of the Operating  Group Participant's death or (III) the date the Operating Group Participant became Totally  

 

Disabled, as applicable, and the denominator of which is twelve; provided, however, there  shall be no Company Credit under this Section 4.1(b)(iii) for the 2015 Plan Year or any  subsequent Plan Year. Any such prorated Company Credit shall be credited to the  Participant's Account on the Final Credit Date.  For the avoidance of doubt, an Operating Group Participant shall also be entitled to Company  Credits pursuant to Section 4.1(a); provided, however that for the 2013 Plan Year, an  Operating Group Participant shall not be entitled to Company Credits pursuant to Section  4.1(a) for any period during a Plan Year when the Active Participant was an Operating Group  Participant; provided, further, there shall be no Company Credit under Section 4.1(a) for any  Participant for the 2015 Plan Year or any subsequent Plan Year.  (g)Transition Participants. Notwithstanding Section 4.1(a) and Section 4.1(b) above,  Company Credits (including any Final Company Credits) shall not be credited to the Account  of a Transition Participant and ESRP Share Awards shall not be granted to a Transition  Participant in respect of any period commencing prior to the Freeze Date applicable to the  Transition Participant. A Transition Participant shall continue to earn a Supplemental  Defined Benefit in accordance with the relevant terms of the Plan (including any Schedules  hereto) until the Freeze Date applicable to the Transition Participant.  (h)Adjustment by Committee. Notwithstanding anything to the contrary in Section  4.1(a) and 4.1(b) above, the Committee shall have the discretion to adjust, in a manner that  results in Section 409A Compliance: (i) the amount of a Company Credit (including any Final  Company Credits or ESRP Share Award credited or granted, as applicable, in respect of a  Participant’s status as an Active Participant or an Operating Group Participant for a portion  of a Plan Year); and (ii) the medium of settlement of an ESRP Share Award, in each case, to  the extent necessary to avoid adverse tax consequences to an Operating Group Participant;  provided, however, that in no event shall such adjustment diminish the economic benefit to  the Participant of a Company Credit or an ESRP Share Award without the Participant’s  consent.    IN WITNESS WHEREOF, State Street Corporation has caused this instrument to be executed  by its duly authorized officer this 17 day of January, 2017.       State Street Corporation          by /s/ Todd Gershkowitz             Todd Gershkowitz  Executive Vice President   Head of Global Total Rewards  

 

  1    THIRD AMENDMENT  TO THE  STATE STREET CORPORATION   EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN      Pursuant to the provisions of Section 7.1 of the State Street Corporation Executive Supplemental  Retirement Plan, Amended and Restated January 1, 2015 (the “Plan”), State Street Corporation as  plan sponsor hereby amends the Plan as follows:   Effective for actions taken on or after December 15, 2020, the current Section 4.2(c) and (d) are  amended in their entirety as follows:  4.2  Accounts.  (c).  Election of Investment Options.  A Participant shall elect, in accordance with  the Administrative Procedures, one or more Investment Option(s) from a menu of  Investment Options provided under the Plan to be used to determine Investment  Earnings/Losses credited or debited to his or her Account.  A Participant may  reallocate the existing balance of his or her Account among the available  Investment Options and change Investment Options with respect to future deferrals  under the Plan in accordance with the Administrative Procedures.  In the event that  a Participant fails to select one or more Investment Options for all or a portion of  his or her Account (including in the situation where the Investment Option is  discontinued and the Participant fails to designate an alternative in accordance with  the Administrative Procedures), such amounts shall be deemed invested in the  Default Investment Option.  Notwithstanding the foregoing, the Final Company  Credits credited to the Account of a Participant on the Final Credit Date in  connection with his or her death or Total Disability shall not be deemed invested in  any Investment Option.    (d).  Investment Options.  The Committee or the Executive Vice President – Global  Human Resources may select the Investment Options.  The Committee or the  Executive Vice President – Global Human Resources shall be permitted to add,  remove or change Investment Options, as deemed appropriate; provided that any  such addition, deletion or change shall not be effective with respect to any period  prior to the effective date of the change.  Each Participant, as a condition to his or  her participation in the Plan, agrees to indemnify and hold harmless the Committee,  the Executive Vice President – Global Human Resources, the Administrator and  the Company, and their agents and representatives, from any losses or damages of  any kind relating to the Investment Options made available hereunder.  

 

  2    \IN WITNESS WHEREOF, State Street Corporation has caused this instrument to be executed by  its duly authorized officer this 17th day of December, 2020.         STATE STREET CORPORATION                By:  /s/ Kathryn M. Horgan                                   Kathryn M. Horgan   Executive Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]