Document:

Amended and Restated Employee Stock Purchase Plan

 Exhibit 10.4 
 Original Plan approved by the Compensation Committee on 11/15/96 
 Amended and
Restated Plan (prior version) approved and ratified by the Compensation Committee on 3/22/04 
 Amended and Restated Plan (prior
version) approved and ratified by the Board of Directors on 3/23/04 
 Amended and Restated Plan (prior version) approved and
ratified by the Stockholders on 5/18/04 
 Amended and Restated Plan (prior version) approved by the Governance, Compensation and
Nominating 
 Committee and the Board of Directors on 11/1/08 

This Amended and Restated Plan approved by the Governance, Compensation and Nominating Committee on 

November 16, 2010, to be effective as of January 1, 2011 
 This Amended and Restated Plan approved by the Board of Directors on November 16, 2010, to be effective as of 
 January 1, 2011 
 COMERICA INCORPORATED 

AMENDED AND RESTATED 
 EMPLOYEE STOCK PURCHASE 
 PLAN 

(AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2011) 

 COMERICA INCORPORATED 

AMENDED AND RESTATED 
 EMPLOYEE STOCK PURCHASE PLAN 
 TABLE OF CONTENTS 

 

					
	 SECTION I – PURPOSE
	  	 	1	  
		
	 SECTION II – DEFINITIONS
	  	 	1	  
		
	 SECTION III – INTRODUCTION
	  	 	4	  
		
	 SECTION IV – PARTICIPATION
	  	 	5	  
		
	 SECTION V – CONTRIBUTIONS
	  	 	5	  
		
	 SECTION VI – ACQUISITION OF CORPORATION SHARES
	  	 	8	  
		
	 SECTION VII – RIGHTS WITH RESPECT TO SHARES HELD IN PLAN
	  	 	8	  
		
	 SECTION VIII – WITHDRAWALS FROM PLAN
	  	 	8	  
		
	 SECTION IX – MISCELLANEOUS PROVISIONS
	  	 	10	  
		
	 SECTION X – EFFECTIVE DATE OF PLAN
	  	 	11	  

 SECTION I - PURPOSE 
 The Board of Directors of Comerica Incorporated (the “Corporation”) believes that the interests of the Corporation are served through share ownership of the Corporation by its employees. Such
ownership strengthens the sense of identity between the Corporation and its employees and furthers a unity of purpose among the Corporation, its employees and its stockholders. It is the purpose of this Comerica Incorporated Amended and Restated
Employee Stock Purchase Plan to provide a convenient means through which employees of the Corporation and its subsidiaries and affiliates may acquire shares in the Corporation. 
 SECTION II - DEFINITIONS 
 Whenever used in the Plan, the following terms
shall have the meanings set forth below. 
 A. “Account” means an account established for each Participant
under the Plan to hold Corporation Shares acquired for the Participant’s account with Payroll Withholding Contributions, Other Permitted Contributions, Service Award Contributions, Matching Contributions, Share Retention Contributions and/or
Reinvested Cash Dividends. 
 B. “Beneficiary(ies)” means the individual(s) to whom the balance of the
Participant’s Account is to be distributed in the event assets remain in such Account at the time of the Participant’s death, or by whom any rights of the Participant, after the Participant’s death, may be exercised. 

C. “Beneficiary Designation Form” means the form used to designate the Participant’s Beneficiary(ies), as such form
may be modified by the Committee or the Plan Administrator from time to time. 
 D. “Bi-Weekly Base Pay” means
the gross amount of cash compensation a Participant receives during each bi-weekly pay period, including, without limitation, base pay, incentive compensation paid through the Management Incentive Plan, or through a specific business unit incentive
plan, referral awards, ROAR payments, overtime, shift differential and commissions, lump sum merit bonuses (effective as of January 22, 1999) and/or such other payments as the Committee or the Plan Administrator may determine appropriate from
time to time for such purposes. Bi-Weekly Base Pay shall not include any amount which is deferred under the Deferred Compensation Plan(s). 
 E. “Board” means the Board of Directors of Comerica Incorporated. 

F. “Code” means the Internal Revenue Code of 1986, as amended. All references to sections of the Code shall be deemed to
refer to any successor provisions to such sections. 
 G. “Committee” means the committee appointed by the
Board to administer the Plan as provided herein. Unless otherwise determined by the Board, the Governance, Compensation and Nominating Committee of the Board shall be the Committee. 

  
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 H. “Corporation” means Comerica Incorporated, a Delaware corporation. For
purposes of Plan provisions relating to eligibility to participate or receive or make contributions, it shall also include subsidiaries and affiliates of the Corporation. 
 I. “Corporation Shares” means shares of $5.00 par value common stock of the Corporation. 
 J. “Custodian Bank” means Comerica Bank, a Texas banking association, or such other institution as may be appointed by the Corporation to hold Corporation Shares in Accounts of
Participants under the Plan. 
 K. “Deferred Compensation Plan(s)” means the 1999 Comerica Incorporated
Deferred Compensation Plan, together with any and all amendments, restatements and/or modifications thereof, and/or the 1999 Comerica Incorporated Amended and Restated Common Stock Deferred Incentive Award Plan, together with any and all amendments,
restatements and/or modifications thereof, or any plan adopted by the Corporation as a successor to the foregoing. 
 L.
“Disability” has the meaning set forth in Section V(D) hereof. 
 M. “Employee” means an
individual who renders service to the Corporation or one of its subsidiaries or affiliates as a common law employee or officer. 

N. “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

O. “Management Incentive Plan” means the Amended and Restated Comerica Incorporated Management Incentive Plan, together
with any and all amendments, restatements and/or modifications thereof, or any plan adopted by the Corporation as a successor to the foregoing. 
 P. “Matching Contribution” means, subject to the limitations of Section V(C) hereof, a contribution by the Corporation, the gross amount of which shall equal 15% of the aggregate amount
of Payroll Withholding Contributions, Service Award Contributions and/or Other Permitted Contributions made during the previous quarter. The Matching Contribution, net of all applicable withholding and deductions, shall be used to purchase
Corporation Shares. 
 Q. “Other Permitted Contribution” means a non-periodic contribution of a Participant to
the Plan pursuant to guidelines approved by the Committee or the Plan Administrator from time to time. 
 R.
“Participant” means an Employee or former Employee who has an Account under the Plan. 
 S. “Payroll
Withholding Contribution” means a contribution of a Participant under the Plan equal to the percentage of the Participant’s gross Bi-Weekly Base Pay such Participant 

  
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has elected to contribute to the Plan; provided, however, that in the event the Participant’s pay, less all applicable withholding and deductions, is less than the amount of his or her
elected contribution, the contribution shall be reduced so as not to exceed 100% of the Participant’s net pay. Payroll Withholding Contributions shall be withheld by the Corporation and forwarded to the Custodian Bank, which shall utilize such
contributions to purchase Corporation Shares for allocation to the Employee’s Account in accordance with the provisions of the Plan. 
 T. “Plan” means the Comerica Incorporated Amended and Restated Employee Stock Purchase Plan, as set forth herein and as hereinafter amended and/or restated from time to time. 

U. “Plan Administrator” means, unless determined otherwise by the Board or the Committee, the Chief Human Resources
Officer (or, if no individual is the Chief Human Resources Officer, then the designated acting Chief Human Resources Officer). 

V. “Plan Year” means the fiscal year on which the records of the Plan are kept, which shall be the calendar year;
provided, however, that the first Plan Year shall be the period commencing April 1, 1997 and ending December 31, 1997. 
 W. “Reinvested Cash Dividends” means cash dividends paid on Corporation Shares allocated to a Participant’s Account which are utilized to purchase additional Corporation Shares for
such Participant’s Account. 
 X. “Retirement” has the meaning set forth in Section V(D) hereof.

 Y. “Section 16 Insider” means any Participant who is designated by the Corporation as a reporting person
under Section 16 of the Exchange Act. 
 Z. “Service Award” means a discretionary award, in the form of a
Service Award Contribution, made by the Corporation in recognition of an Employee’s service to the Corporation. 
 AA.
“Service Award Contribution” means a discretionary contribution by the Corporation to be allocated to a Participant’s Account in recognition of an Employee’s service to the Corporation. The Service Award Contribution, net
of any applicable withholding and deductions, shall be used to purchase Corporation Shares. 
 BB. “Share Retention
Contribution” means, subject to fulfillment of the requirements in Section V(D) hereof, a contribution by the Corporation to be allocated to a Participant’s Account in a Plan Year equal to 5% of the amount of Payroll Withholding
Contributions, Service Award Contributions and/or Other Permitted Contributions made to such Participant’s Account in the first of the two immediately preceding Plan Years as set forth in Section V(D). Share Retention Contributions shall be
utilized to purchase additional Corporation Shares for the Participant’s Account. 

  
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 CC. “Two-Plan-Year-Period” means the two Plan Years immediately preceding
the Plan Year in which a Share Retention Contribution is made. 
 SECTION III - INTRODUCTION 

A. Administration. The Plan shall be administered by the Committee; provided, however, that the Board shall have the authority to
exercise any and all duties and responsibilities assigned to the Committee under the Plan. The Committee may delegate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its
responsibilities and powers to any person or persons selected by it, including, without limitation, the Plan Administrator. In addition, unless determined otherwise by the Board or Committee, the Plan Administrator shall handle the day-to-day
administration of the Plan. The Plan Administrator may employ accountants, legal counsel and any other experts he or she deems advisable to assist in the administration of the Plan. 

B. Corporation Shares. The aggregate number of Corporation Shares which may be purchased, or awarded as Service Award
Contributions, under the Plan shall not exceed 5,000,000. 
 C. Adjustments. In the event the number of
outstanding Corporation Shares changes as a result of any stock split, stock dividend, recapitalization, merger, consolidation, reorganization, combination, or exchange of shares, split-up, split-off, spin-off, liquidation or other similar change in
capitalization, or any distribution made to holders of Corporation Shares other than cash dividends, the number of Corporation Shares that may be purchased, or awarded as Service Award Contributions, under the Plan shall be automatically adjusted,
and the Committee shall be authorized to make such other equitable adjustments as it deems necessary so that the value of the interest of the Participants shall not be decreased by reason of the occurrence of such event. Any such adjustment shall be
deemed conclusive and binding on the Corporation, each Participant, his or her Beneficiaries and all other interested parties.  
 D. Supplements. From time to time, supplements may be attached by amendment to and form a part of this Plan and shall be given the same effect that such provision would have if it was incorporated
within the basic text of the Plan. Such supplements may modify or supplement the provisions of the Plan as they apply to particular groups of Employees or groups of Participants, shall specify the persons affected by such supplements and shall
supersede the other provisions of the Plan to the extent necessary to eliminate inconsistencies between the Plan provisions and the provisions of such supplements. 
 E. Non-Resident Aliens. With respect to non-resident alien Employees, the Committee or Plan Administrator may adopt one or more sets of procedures and provisions, which may be different than those
included in this Plan for other Participants, with each set of procedures and provisions applying to some or all of such non-resident alien Employees, as determined by the Committee in its sole discretion or the Plan Administrator in his or her sole
discretion, in order to comply with the applicable laws of the respective jurisdiction(s) in which 

  
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such non-resident alien Employees live or work and/or to take into account other legal, tax, accounting and similar issues arising by virtue of the participation of such non-resident alien
Employees. The adoption of any such procedures and provisions shall not be deemed an amendment to this Plan. 
 F.
Applicable Law. To the extent not preempted by the laws of the United States, the laws of the State of Delaware shall be the controlling law in all matters relating to this Plan. 

SECTION IV - PARTICIPATION 
 A. Eligibility. Any person who is or becomes an Employee may commence participation in the Plan as soon as administratively feasible on or subsequent to such individual’s date of hire;
provided, however, that for purposes of the Plan, the Committee or the Plan Administrator may exclude from eligibility non-resident aliens (or classes of non-resident aliens), if any, if the requirements of local law, rules or regulations, including
without limitation, the tax, labor, accounting or securities laws, rules, regulations or consequences, make participation by such non-resident aliens (or class(es) of non-resident aliens) impractical, as determined by the Committee in its sole
discretion or the Plan Administrator in his or her sole discretion. 
 B. Enrollment. Enrollment in the Plan shall be
accomplished by such procedures as are established by the Committee or the Plan Administrator from time to time. Unless determined otherwise by the Committee or the Plan Administrator, Payroll Withholding Contributions will commence as of the first
pay period which begins not less than ten days following a Participant’s communication of instructions to commence such contributions. Other Permitted Contributions will be made as soon as is administratively feasible, as determined by the
Committee or the Plan Administrator, following the Corporation’s receipt of instructions to commence such contributions. 

C. Election Changes. A Participant may increase, decrease, cease or resume the amount of his or her Payroll Withholding
Contributions by communicating further instructions pursuant to such procedures as are established by the Committee or the Plan Administrator from time to time. Election changes shall become effective as soon as administratively feasible after
instructions have been properly communicated. There shall be no limitation on the number of election changes a Participant may make. A discontinuance of contributions in and of itself shall not constitute a withdrawal from the Plan. 

SECTION V - CONTRIBUTIONS 
 A. Payroll Withholding Contributions. Any Payroll Withholding Contribution shall equal at least 0.5% but not exceed 100% of a Participant’s Bi-Weekly Base Pay, net of all other applicable
withholding and deductions. The Corporation shall remit these contributions to the Custodian Bank promptly. 

  
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 B. Other Permitted Contributions. A Participant may make Other Permitted
Contributions in a single sum at such time or times permitted by the Committee or the Plan Administrator. 

C. Matching Contributions. The Corporation shall make a Matching Contribution equal to 15% of the Payroll
Withholding Contributions, Service Award Contributions and/or Other Permitted Contributions made by, or on behalf of, each Participant during any calendar quarter, provided there have been no withdrawals from the Participant’s Account during
such quarter. Matching Contributions will not be made with respect to Share Retention Contributions. In addition, Matching Contributions will not be made with respect to Payroll Withholding Contributions, Service Award Contributions and/or Other
Permitted Contributions made during any Plan Year to the extent such contributions exceed $25,000 in the aggregate. Matching Contributions will be made at or after the end of each calendar quarter, but in no event later than the March 15th of the Plan Year immediately following the end of the applicable
calendar quarter. Matching Contributions shall be net of all applicable withholding and deductions. A Participant shall be eligible to receive a Matching Contribution with respect to a calendar quarter if there have been no withdrawals during such
quarter, even if the Participant’s employment terminated during such quarter for any reason. 
 D. Share Retention
Contributions. Subject to the conditions and limitations of this Section V(D), the Corporation shall allocate Share Retention Contributions to the Accounts of those Participants who qualify therefor. Subject to the conditions and limitations of
this Section V(D), a Participant shall qualify for a Share Retention Contribution in a Plan Year if the Participant is employed on the last day of the relevant Two-Plan-Year-Period, and if, during such Two-Plan-Year-Period, there has not been a
withdrawal of any of the following: 
 (i) Payroll Withholding Contributions, Service Award Contributions or
Other Permitted Contributions made during such period; 
 (ii) Matching Contributions made during such period;

 (iii) Corporation Shares purchased with any contributions referred to in to Section V(D)(i) or (ii); or

 (iv) Corporation Shares purchased with dividends paid with respect to any shares referred to in Section
V(D)(iii). 
 Share Retention Contributions will not be made with respect to Matching Contributions. In
addition, Share Retention Contributions will not be made with respect to Payroll Withholding Contributions, Service Award Contributions and/or Other Permitted Contributions made during any Plan Year to the extent such contributions exceed $25,000 in
the aggregate. Except as otherwise provided herein, Share Retention Contributions shall be made as soon as reasonably practicable after the first day of the Plan Year following a Two-Plan-Year-Period, but in no event later than the
March 15th of the Plan Year immediately following the
end of the Two-Plan-Year-Period. Share Retention Contributions shall be net of all applicable withholding and deductions. 

  
 6 

 Notwithstanding anything in this Section V(D) to the contrary, a Participant whose
employment terminates by reason of Retirement, death or Disability prior to the end of a Two-Plan-Year-Period shall be eligible to receive a Share Retention Contribution with respect to such partial Two-Plan-Year-Period (consisting of the Plan Year
during which the Participant’s employment so terminates and the immediately preceding Plan Year) if and only if there have been no withdrawals during such period (prior to termination of employment). The Share Retention Contribution made on
behalf of any such eligible terminated Participant with respect to such period shall be prorated based on the number of days during the final Plan Year that the Participant was employed and shall be net of all applicable withholding and deductions.
Notwithstanding any provision herein to the contrary, the Share Retention Contribution made on behalf of any such eligible terminated Participant shall be made as soon as reasonably practicable, but not later than the March 15th, after the
first day of the Plan Year following the Plan Year that includes the Participant’s Retirement, death or Disability. 
 For
purposes of this Section V(D), a Participant’s employment shall be considered to have terminated by reason of Retirement if he or she terminates employment with eligibility for, and elects to commence receipt of, an early or normal retirement
benefit under a tax-qualified defined benefit retirement plan maintained by the Corporation, and a Participant’s employment shall be considered to have terminated by reason of Disability if he or she terminates employment with eligibility for,
and is awarded, disability benefits under a long-term disability plan maintained by the Corporation.1 
 E. Service Award Contributions. The Corporation may make Service Award
Contributions to the Accounts of those Employees whom it wishes to recognize for service to the Corporation. Service Award Contributions are made at the discretion of the Corporation. All Corporation Service Awards related to Corporation Shares
shall be made under this Plan through such Service Award Contributions. 
 F. Assignment of Rights Under the Plan. Unless
otherwise determined by the Committee, a Participant’s Account shall not be transferable by a Participant otherwise than by will or by the laws of intestacy; provided, however, that, a Participant may, in accordance with Section IX(A) and in
the manner established by the Committee, designate one or more Beneficiaries to exercise the rights of the Participant and to receive any property payable or distributable with respect to such Participant’s Account upon the death of the
Participant. Except as otherwise set forth in the Plan, during the Participant’s lifetime, only the Participant (or, if permissible under applicable law, the Participant’s guardian or legal representative) may make elections or withdrawals
with respect to such Participant’s Account. Unless otherwise determined by the Committee, a Participant’s Account, or rights with respect to such Account, may not be pledged, alienated, attached or otherwise encumbered, and any purported
pledge, 
  

	1	Please note that determination of disability and award of disability benefits may occur retroactively long after the Participant’s employment termination date and
after the date that Share Retention Contribution determinations were otherwise made for the relevant Plan Year. 

  
 7 

 
alienation, attachment or encumbrance thereof shall be void and unenforceable against the Corporation or any of its subsidiaries or affiliates. 

SECTION VI - ACQUISITION OF CORPORATION SHARES 
 A. Application of Current Contributions. Except to the extent otherwise provided in Section VIII(C), as soon as reasonably practicable following its receipt of Payroll Withholding Contributions,
Other Permitted Contributions, Service Award Contributions, Matching Contributions and/or Share Retention Contributions, the Custodian Bank shall purchase the maximum number of Corporation Shares that the funds allocated to each Participant’s
Account may purchase at the then-prevailing market prices. Such purchases may be in the open market or directly from the Corporation. Corporation Shares so acquired shall be allocated to the relevant Participant’s Account. 

B. Reinvested Cash Dividends. Except to the extent otherwise provided in Section VIII(C), any cash dividends paid on Corporation
Shares allocated to any Participant’s Account shall be utilized by the Custodian Bank to purchase additional Corporation Shares at prices and in the manner specified above. 

C. Book Entry. Unless otherwise determined by the Committee or the Plan Administrator, Corporation Shares held under the Plan
shall be held in book entry form, and the Custodian Bank or its nominee shall be identified as the owner thereof while such Corporation Shares remain in the Plan. 
 SECTION VII - RIGHTS WITH RESPECT TO SHARES HELD IN PLAN 
 All rights
accruing to an owner of record of Corporation Shares shall belong to and be vested in the Participant for whose Account such Corporation Shares are being held by the Custodian Bank, including, without limitation, the right to receive all dividends
payable in respect of such Corporation Shares, the right to receive all notices of stockholders’ meetings, the right to vote and the right to tender or refrain from tendering such Corporation Shares in response to a tender offer. 

SECTION VIII - WITHDRAWALS FROM PLAN 
 A. In-Service Withdrawals. A Participant may withdraw all or any portion of the balance of his or her Account from the Plan during the Participant’s employment. Unless determined otherwise by
the Committee or the Plan Administrator, if the value of the Participant’s Account at the time the in-service withdrawal is requested is less than the value of ten Corporation Shares at such time, distribution will be made to the Participant in
cash. Otherwise, the Participant may elect to receive a distribution in the form of cash or Corporation Shares. Any brokerage commissions incurred in connection with the sale of Corporation Shares to facilitate a distribution shall be charged to the
Participant’s Account. A Participant shall not be entitled to receive a Matching Contribution with respect to any Payroll Withholding 

  
 8 

 
Contributions, Service Award Contributions and/or Other Permitted Contributions made during a calendar quarter if the Participant has made an in-service withdrawal during such quarter.

 B. Termination Withdrawals. A Participant or his or her Beneficiary(ies) must submit an application to withdraw the
balance of his or her account not later than ninety days after the Participant’s employment terminates due to death, Disability, Retirement, voluntary resignation, involuntary dismissal or any other reason, or within ninety days after the
Participant or his or her legal representative receives notice that the Plan has terminated. A withdrawal application will be provided to the Participant or Beneficiary(ies) upon the occurrence of any of the aforementioned circumstances. The
application must be returned to the Custodian Bank within ninety days of receipt. If the Custodian Bank does not receive a withdrawal application by the specified deadline, it will distribute the balance of the Participant’s Account to the
Participant or his or her legal representative in the form of whole Corporation Shares registered in the Participant’s name; provided, however, that unless determined otherwise by the Committee or the Plan Administrator, if the value of the
Participant’s Account on the date of distribution is less than the value of ten Corporation Shares at such time, the distribution will be made in cash. If the Custodian Bank receives a withdrawal application by the specified deadline and the
value of the Participant’s Account at the time the termination withdrawal is requested is less than the value of ten Corporation Shares at such time, then unless determined otherwise by the Committee or the Plan Administrator, the distribution
will be made in cash. Otherwise, the Participant or his or her Beneficiary(ies) may elect to receive a distribution in the form of cash or Corporation Shares. 
 C. Amounts Received Following Termination. Any cash contributions that would otherwise be made to the Participant’s Account, and any cash dividends that would otherwise be paid on Corporation
Shares held in the Participant’s Account, following the date of the Participant’s termination of employment shall not be utilized to purchase additional Corporation Shares and shall instead be distributed to the Participant or his or her
Beneficiary(ies) in cash. 
 D. Fractional Shares and Brokerage Commissions. In all cases, cash will be paid in lieu of
fractional Corporation Shares. Any brokerage commissions incurred in connection with the sale of Corporation Shares to facilitate a distribution will be charged to the Participant’s Account. 

E. Special Rule Applicable To Section 16 Insiders. Except as otherwise determined by the Committee, a Section 16 Insider
shall not be permitted to receive a cash distribution from the Plan, if, within the previous six months, he or she (or any other person whose transactions are attributed to the Section 16 Insider under Section 16 of the Exchange Act)
either (i) acquired Corporation Shares in the open market or pursuant to a private transaction; or (ii) made an election under the Plan (or under any other Plan sponsored by the Corporation) that resulted in an acquisition of equity
securities of the Corporation within the meaning of that term under Section 16 of the Exchange Act. The Committee or Plan Administrator may make such other rules as are necessary to comply with Section 16 of the Exchange Act, as amended
from time to time. 

  
 9 

 SECTION IX - MISCELLANEOUS PROVISIONS 

A. Designation of Beneficiary. Upon becoming a Participant of the Plan, each Participant shall submit to Comerica Incorporated,
Human Resources - Compensation, Comerica Bank Tower, 1717 Main Street, MC 6515, Dallas, Texas 75201 (or to such other unit or person as designated by the Committee from time to time) a Beneficiary Designation Form designating one or more
Beneficiaries to whom the balance of the Participant’s Account is to be distributed in the event assets remain in such Account at the time of the Participant’s death, or by whom any rights of the Participant, after the Participant’s
death, may be exercised. A Beneficiary Designation Form will be effective only if it is signed by the Participant and submitted before the Participant’s death. Any subsequent Beneficiary Designation Form properly submitted will supersede any
previous Beneficiary Designation Form so submitted. If a Participant designates a spouse as a Beneficiary, such designation shall automatically terminate and be of no effect following the divorce of the Participant and such individual, unless
ratified in writing post-divorce. 
 If the primary Beneficiary shall predecease the Participant or the primary Beneficiary and
the Participant die in a common disaster under such circumstances that it is impossible to determine who survived the other, the balance of the Participant’s Account shall be distributed to the alternate Beneficiary(ies) who survive(s) the
Participant in accordance with this Plan. If there are no alternate Beneficiaries living or in existence at the date of the Participant’s death, or if the Participant has not submitted a valid Beneficiary Designation Form to the Corporation,
the balance of the Participant’s Account shall be distributed in accordance with the terms of the Plan to the legal representative for the benefit of the Participant’s estate. 

The Corporation reserves the right to distribute the balance of a Participant’s Account to his or her estate notwithstanding the
designation of a Beneficiary, if the Corporation is unable to locate the Beneficiary, a dispute arises among Beneficiaries or under any other circumstances the Corporation deems appropriate. 

B. Withholding of Taxes. The Corporation shall withhold from any amounts payable to the Participant all Federal, state, city, or
other taxes and/or other amounts as legally required by reason of Participant’s participation in this Plan. 
 C.
Expenses. All charges of the Custodian Bank, the cost of maintenance of the Accounts of Participants, the purchase of Corporation Shares, and the cost of transferring Corporation Shares to the Participants and Beneficiaries shall be borne by
the Corporation; provided, however, that brokerage charges involved in the sale of Corporation Shares, if any, shall be charged to the relevant Participant’s Account. 
 D. Compliance With Legal Requirements. The Corporation shall be bound by all applicable laws in operating this Plan and shall administer and interpret this Plan in accordance with legal
requirements. 

  
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 E. Amendment, Term and Termination. The Committee reserves the right to amend and/or
restate the Plan at any time or to terminate the Plan. The Plan shall continue indefinitely until terminated by the Committee. 
 SECTION X
- EFFECTIVE DATE OF PLAN 
 This amendment and restatement of the Plan will be effective as of January 1, 2011.

  
 11Schedule of Named Executive Officers Party to Change of Control Employment Agmt.

 Exhibit 10.28 
 Schedule of Named Executive Officers Party to 
 Change of Control
Employment Agreement (BE4 and Higher Version) 
 (As of December 31, 2010) 

Ralph W. Babb, Jr., Chairman, President and Chief Executive Officer (agreement dated as of December 14, 2008) 

Elizabeth S. Acton, Executive Vice President and Chief Financial Officer (agreement dated as of December 18, 2008) 

Mary Constance Beck, Executive Vice President, Retail Bank (agreement dated as of December 18, 2008) 

Curtis C. Farmer, Executive Vice President, Wealth and Institutional Management (agreement dated as of December 18, 2008) 

Dale E. Greene, Executive Vice President, The Business Bank (agreement dated as of December 18, 2008)

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