Document:

EX-10.1

Exhibit 10.1

Amendment of 2009 Stock Plan to Include TARP Clawback

WHEREAS, Section 30.8 of the Interim Final Regulation requires the Company to ensure that any
bonus payment made to a SEO or the next twenty most highly compensated employees during the TARP
period is subject to a provision for recovery or ‘‘clawback’’ by the TARP recipient if the bonus
payment was based on materially inaccurate financial statements or any other materially inaccurate
performance metric criteria.

The SunTrust Banks, Inc. 2009 Stock Plan be and hereby is amended by adding a new Section
5.2.1:

	5.2.1	 	Recoupment of Amounts Paid or Awarded Based Upon Misstated Financials or Other
Performance Metric. During any year in which any obligation arising from
financial assistance received under TARP is outstanding within the meaning of
Treasury Regulations 31 CFR Part 30, “TARP Standards for Compensation and Corporate
Governance,” the Company shall not pay or allow to vest, or if paid or vested shall
recover from, any person who during the year of payment is determined by the
Committee to be a “senior executive officer” of the Company or among the next twenty
(20) most “highly-compensated” employees of the Company, any bonus payment made to
such individual if the bonus payment was based on a materially inaccurate financial
statement (which shall include but shall not be not limited to statements of
earnings, revenues, or gains) or any other materially inaccurate performance metric
or criteria. The Committee shall base its determination as to whether a financial
statement or performance metric criteria is materially inaccurate on all the facts
and circumstances, but a financial statement or performance metric criteria shall be
deemed to be materially inaccurate with respect to any employee who knowingly engaged
in providing inaccurate information (including knowingly failing to timely correct
inaccurate information) relating to those financial statements or performance
metrics. The Company shall exercise its rights under this Section to recover such
awards except to the extent that it is unreasonable to do so. Each participant to
whom an award is paid (i) during any year in which any obligation arising from
financial assistance received under TARP is outstanding, (ii) who is determined by
the Committee to be a “senior executive officer” of the Company or among the next
twenty (20) most “highly-compensated” employees of the Company for such year, and
(iii) such award or payment is made to such individuals based on materially
inaccurate financial statement (which shall includes but not be not limited to
statements of earnings, revenues, or gains) or any other materially inaccurate
performance metric criteria, agrees to promptly repay such award or payment to the
Company promptly upon request by the Company. Each such participant hereby expressly
authorizes the Company to deduct such amounts from any other amount the Company may
owe to such individual. For the purpose of this section, a bonus payment shall be
deemed to be made to an individual when the individual obtains a legally binding
right to that payment.EX-10.2

Exhibit 10.2

SunTrust Banks, Inc.

2009 Stock Plan

Salary Share
Stock Unit Agreement

SunTrust Banks, Inc. (“SunTrust”), a Georgia corporation, pursuant to action of the
Compensation Committee (“Committee”) and in accordance with the SunTrust Banks, Inc. 2009 Stock
Plan (“Plan”), has determined that going forward and until the Committee determines otherwise
Grantee’s base salary will be payable partly in cash and partly in stock units. The Committee
therefore has granted these stock units (the “Stock Units”) to Grantee as a periodic payment of the
stock portion of Grantee’s salary, net of applicable withholdings and other deductions.  

	 	 	 	 	 
	Name of Grantee

	 	 
	 	[Name]
	 	 	 
	Number of

Stock Units

	 	

 
	 	

[# of Units]
	 	 	 
	Grant Date

	 	 
	 	[Grant Date]

Each Stock Unit represents the right to receive a payment in cash equal to the Fair Market
Value of SunTrust Common Stock, $1.00 par value, at a future date and time, subject to the terms of
this Salary Share Stock Unit Agreement. The number of Stock Units was calculated as follows. First,
the salary amount to be paid in Stock Units was divided by the reported closing price on the New
York Stock Exchange (“NYSE”) for a share of SunTrust common stock on the pay date for the relevant
pay period (or, if not a NYSE trading day, on the immediately preceding such trading day) to
determine the gross number of Stock Units to be awarded to Grantee. Next, the dollar amount of
applicable tax withholdings and other deductions was determined, and was divided by the reported
closing price on the NYSE for a share of SunTrust common stock on the pay date for the relevant pay
period (or, if not a NYSE trading day, on the immediately preceding such trading day) to determine
the number of Stock Units to be retained and cancelled by the Company in lieu of such taxes and
other deductions. Finally, an account was credited on behalf of Grantee for the net amount of Stock
Units described in the preceding two sentences. This Salary Share Stock Unit Agreement (the “Salary
Agreement”) evidences this grant, which has been made subject to all the terms and conditions set
forth on the attached Terms and Conditions and in the Plan.

 

	 
	SUNTRUST BANKS, INC.

	 

	 

	Authorized Officer

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§ 1. EFFECTIVE DATE. This grant of Stock Units to the Grantee is effective as of
                (“Grant Date”). Except as otherwise provided in this Agreement, Grantee’s
salary shall be payable in accordance with SunTrust’s regular payroll practice for similarly
situated employees, as in effect from time to time.

§ 2. VESTING. Once awarded, the Stock Units will be fully vested and not subject to the
risk of forfeiture or any requirement of future service.

§ 3. GRANTEE’S RIGHTS PRIOR TO PAYMENT.

(a) The Stock Unit award will not include any rights to receive dividends or dividend equivalents.

(b) Nothing in the Plan, this Agreement, or the Stock Units shall be construed to give the Grantee
any rights as a shareholder of SunTrust, including the right to vote or receive dividends. The
Grantee shall be an unsecured general creditor of SunTrust with respect to any cash payment
relating to Stock Units, and any payment provided pursuant to this Agreement shall be made from
SunTrust’s general assets.

(c) The Stock Units may not be sold, assigned, transferred, exchanged, pledged, hypothecated or
otherwise encumbered. If Grantee is deceased at the time the Stock Units are settled, SunTrust will
make such payment to the executor or administrator of Grantee’s estate or to Grantee’s other legal
representative as determined in good faith by SunTrust.

§ 4. PAYMENT OF AWARD.

Each such Stock Unit award will be settled in cash on the Settlement Date.

The “Settlement Date” shall mean the earlier of: (a) with respect to one-half of the Stock Units,
March 31, 2011, (b) with respect to the other one-half of the Stock Units, March 31, 2012, and (c)
the date of Grantee’s death; provided that in the case of (a) and (b), above, if SunTrust
repays its obligations under the Troubled Asset Relief Program and if on the date of such repayment
such Stock Units have not been settled, then the Settlement Date shall be advanced up to one year
to the date of such repayment (if the date of such repayment is more than one year prior to the
dates in either clause (a) and (b) above, then the dates in clause (a) and/or (b) above shall be
advanced only by one year. For example, if SunTrust were to repay its obligations under the
Troubled Asset Relief Program on June 30, 2010, and if on the date of such repayment such Stock
Units have not been settled, then the Settlement Date would advance to (a) June 30, 2010 with
respect to one half of the Stock Units, and (b) March 31, 2011 with respect to the other one-half
of the Stock Units.

The amount to be paid on settlement of the Stock Units will be equal to the number of Stock Units
being settled multiplied by the reported closing price on the NYSE for a share of SunTrust common
stock on the settlement date (or, if not a NYSE trading day, on the immediately preceding such
trading day).

The value of the Stock Units shall be paid in a cash lump sum on the Settlement Date. For purposes
of this § 4, the value of each Stock Unit will equal the Fair Market Value of a share of Stock on
the Settlement Date.

§ 5. WITHHOLDING. Upon the payment of any Stock Units, SunTrust’s obligation to deliver
cash to settle the Stock Units shall be subject to the satisfaction of applicable tax withholding
requirements, including federal, state, and local requirements. The Grantee must pay to SunTrust
any applicable federal, state or local withholding tax due as a result of such payment. Where
Grantee has not previously satisfied all applicable withholding tax obligations, SunTrust will, at
the time the tax withholding obligation arises in connection herewith, retain an amount sufficient
to satisfy the minimum amount of taxes then required to be withheld by the Company in connection
therewith from any amounts then payable hereunder to Grantee. If any withholding is required prior
to the time amounts are payable to Grantee hereunder, the withholding will be taken from other
compensation then payable to Grantee or as otherwise determined by SunTrust.

§ 6. NO EMPLOYMENT RIGHTS. Nothing in the Plan or this Salary Agreement or any related material
shall give the Grantee the right to continue in the employment of SunTrust or any Subsidiary or
adversely affect the right of SunTrust or any Subsidiary to terminate the Grantee’s employment with
or without cause at any time.

§ 7. OTHER LAWS. Notwithstanding anything in the Agreement, SunTrust will not be required to comply
with any term or condition of the Agreement if and to the extent prohibited by law, including but
not limited to federal banking and securities regulations, or as otherwise directed by one or more
regulatory agencies having jurisdiction over SunTrust or any of its subsidiaries. In particular,
SunTrust shall have the right to refuse to pay any amount or under this Salary Agreement if
SunTrust acting in its absolute discretion determines that the payment of such amount, issuance or
transfer of such Stock might violate any applicable law or regulation.

§ 8. MISCELLANEOUS.

(a) This Salary Agreement shall be subject to all of the provisions, definitions, terms and
conditions set forth in the Plan and any interpretations, rules and regulations promulgated by the
Committee from time to time, all of which are incorporated by reference in this Salary Agreement.
If the Plan and this Agreement are inconsistent, the provisions of the Plan will govern.
Interpretations of the Plan and this Agreement by the Committee are binding on you and the Company.

(b) The Plan and this Salary Agreement shall be governed by the laws of the State of Georgia
(without regard to its choice-of-law provisions).

(c) Any written notices provided for in this Salary Agreement that are sent by mail shall be deemed
received three (3) business days after mailing, but not later than the date of actual receipt.
Notices shall be directed, if to Grantee, at Grantee’s address indicated by SunTrust’s records and,
if to SunTrust, at SunTrust’s principal executive offices.

(d) It is the intention of the parties that this Agreement and the awards made pursuant to the
Agreement comply with the provisions of Section 409A of the Internal Revenue Code to the extent, if
any, that such provisions are applicable to the Agreement, and the Agreement will be administered
by SunTrust in a manner consistent with this intent. If any payments or benefits hereunder may be
deemed to constitute nonconforming deferred compensation subject to taxation under the provisions
of Section 409A, Grantee agrees that SunTrust may, without the consent of Grantee, modify the
Agreement and the awards made pursuant to this Agreement to the extent and in the manner SunTrust
deems necessary or advisable or take such other action or actions, including an amendment or action
with retroactive effect, that SunTrust deems appropriate in order either to preclude any such
payments or benefits from being deemed “deferred compensation” within the meaning of Section 409A
or to provide such payments or benefits in a manner that complies with the provisions of
Section 409A such that they will not be taxable thereunder.

(e) If one or more of the provisions of this Salary Agreement shall be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable
provisions shall be deemed null and void; however, to the extent permissible by law, any provisions
which could be deemed null and void shall first be construed retroactively to permit this Salary
Agreement to be construed so as to foster the intent of this Salary Agreement and the Plan.

(f) This Salary Agreement (which incorporates the terms and conditions of the Plan) constitutes the
entire agreement of the parties with respect to the subject matter hereof. This Salary Agreement
supersedes all prior discussions, negotiations, understandings, commitments and agreements with
respect to such matters.

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