Document:

EX-4.1 SECOND SUPPLEMENTAL INDENTURE

 

EXHIBIT 4.1

 
 

Second Supplemental Indenture

between

REGIONS FINANCIAL CORPORATION

and

DEUTSCHE BANK TRUST COMPANY AMERICAS

Dated as of April 27, 2007

Supplement to Indenture for subordinated debt securities,

dated as of May 15, 2002

 
 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	ARTICLE I

	 
	 	 	 	 	 	 
	Definitions

	 
	 	 	 	 	 	 
	Section 1.1.

	 	Definitions
	 	 	2	 
	 
	 	 	 	 	 	 
	ARTICLE II

	 
	 	 	 	 	 	 
	General Terms and Conditions of the JSNs

	 
	 	 	 	 	 	 
	Section 2.1.

	 	Designation, Principal Amount and Authorized Denomination
	 	 	10	 
	Section 2.2.

	 	Repayment
	 	 	10	 
	Section 2.3.

	 	Form
	 	 	13	 
	Section 2.4.

	 	Rate of Interest; Interest Payment Dates
	 	 	13	 
	Section 2.5.

	 	Interest Deferral
	 	 	14	 
	Section 2.6.

	 	Dividend and Other Payment Stoppages
	 	 	15	 
	Section 2.7.

	 	Alternative Payment Mechanism
	 	 	16	 
	Section 2.8.

	 	Redemption of the JSNs
	 	 	18	 
	Section 2.9.

	 	Events of Default
	 	 	19	 
	Section 2.10.

	 	Securities Registrar; Paying Agent; Delegation of Trustee Duties
	 	 	20	 
	Section 2.11.

	 	Obligation to Seek Shareholder Approval to Increase Authorized Share
	 	 	20	 
	Section 2.12.

	 	Limitation on Claims in the Event of Bankruptcy, Insolvency or Receivership
	 	 	21	 
	Section 2.13.

	 	Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by
Holders of Trust Preferred Securities
	 	 	21	 
	 
	 	 	 	 	 	 
	ARTICLE III

	 
	 	 	 	 	 	 
	Repayment of JSNs

	 
	 	 	 	 	 	 
	Section 3.1.

	 	Repayments
	 	 	21	 
	Section 3.2.

	 	Selection of the JSNs to be Repaid
	 	 	21	 
	Section 3.3.

	 	Notice of Repayment
	 	 	22	 
	Section 3.4.

	 	Deposit of Repayment Amount
	 	 	22	 
	Section 3.5.

	 	Repayment of JSNs
	 	 	23	 
	 
	 	 	 	 	 	 
	ARTICLE IV

	 
	 	 	 	 	 	 
	Form of JSNs

	 
	 	 	 	 	 	 
	Section 4.1.

	 	Form of JSNs
	 	 	23	 

Supplemental Indenture

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	ARTICLE V

	 
	 	 	 	 	 	 
	Original Issue of JSNs

	 
	 	 	 	 	 	 
	Section 5.1.

	 	Original Issue of JSNs
	 	 	29	 
	Section 5.2.

	 	Calculation of Original Issue Discount
	 	 	30	 
	 
	 	 	 	 	 	 
	ARTICLE VI

	 
	 	 	 	 	 	 
	Subordination

	 
	 	 	 	 	 	 
	Section 6.1.

	 	Senior Debt
	 	 	30	 
	Section 6.2.

	 	Compliance with Federal Reserve Rules
	 	 	30	 
	 
	 	 	 	 	 	 
	ARTICLE VII

	 
	 	 	 	 	 	 
	Miscellaneous

	 
	 	 	 	 	 	 
	Section 7.1.

	 	Effectiveness
	 	 	31	 
	Section 7.2.

	 	Modification of Supplemental Indenture
	 	 	31	 
	Section 7.3.

	 	Miscellaneous
	 	 	31	 
	Section 7.4.

	 	Successors and Assigns
	 	 	31	 
	Section 7.5.

	 	Further Assurances
	 	 	31	 
	Section 7.6.

	 	Effect of Recitals
	 	 	31	 
	Section 7.7.

	 	Ratification of Indenture
	 	 	32	 
	Section 7.8.

	 	Governing Law
	 	 	32	 

Supplemental Indenture

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     Second Supplemental Indenture, dated as of April 27, 2007 (this “Supplemental
Indenture”), between Regions Financial Corporation, a Delaware corporation (the
“Company”), having its principal office at 1900 Fifth Avenue North, Birmingham, Alabama 35203, and
Deutsche Bank Trust Company Americas, as trustee (hereinafter called the “Trustee”).

Recitals of the Company

     The Company and the Trustee entered into the Indenture for subordinated debt securities, dated
as of May 15, 2002 (the ”Indenture”).

     Regions Financing Trust II, a Delaware statutory trust (the “Trust”), has offered to the
public its trust preferred securities known as 6.625% Trust Preferred Securities (the “Trust
Preferred Securities”), which are beneficial interests in the Trust, and proposes to invest the
proceeds from such offering, together with the proceeds of the issuance and sale by the Trust to
the Company of its common securities (the “Trust Common Securities” and, together with the Trust
Preferred Securities, the “Trust Securities”), in the JSNs (as defined herein).

     Section 901 of the Indenture provides that the Company and the Trustee may, without the
consent of any Holder, enter into a supplemental indenture to establish the form or terms of
securities of any series as permitted by Section 201 or 301 thereof.

     Pursuant to Sections 201 and 301 of the Indenture, the Company desires to provide for the
establishment of a new series of Securities under the Indenture, the form and substance of such
Securities and the terms, provisions and conditions thereof to be set forth as provided in the
Indenture and this Supplemental Indenture.

     The Company has delivered to the Trustee an Opinion of Counsel and an Officers’ Certificate
pursuant to Section 903 of the Indenture to the effect that all conditions precedent provided for
in the Indenture to the Trustee’s execution and delivery of this Supplemental Indenture have been
complied with.

     The Company has requested that the Trustee execute and deliver this Supplemental Indenture and
satisfy all requirements on the Trustee’s part necessary to make this Supplemental Indenture a
valid instrument in accordance with its terms, and to make the JSNs, when executed by the Company
and authenticated and delivered by the Trustee, the valid obligations of the Company and all acts
and things necessary have been done and performed to make this Supplemental Indenture enforceable
in accordance with its terms, and the execution and delivery of this Supplemental Indenture has
been duly authorized in all respects.

     Now, therefore, this Supplemental Indenture
witnesseth: For and in consideration of the premises and the purchase of the JSNs by the
Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of
all Holders of the JSNs, as follows:

 Supplemental Indenture

 

 

ARTICLE I

Definitions

     Section 1.1. Definitions For all purposes of this Supplemental Indenture, except as otherwise
expressly provided or unless the context otherwise requires:

     (a) Terms defined in the Indenture or the Amended Declaration (as defined herein) have
the same meaning when used in this Supplemental Indenture unless otherwise specified herein.

     (b) The terms defined in this Article have the meanings assigned to them in this
Article, and include the plural as well as the singular.

     (c) The words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Supplemental Indenture as a whole and not to any particular Article, Section
or other subdivision, and any reference to an Article, Section or other subdivision refers
to an Article, Section or other subdivision of this Supplemental Indenture.

     (d) Any reference herein to “interest” includes any Additional Interest.

     “Amended Declaration” means the Amended and Restated Declaration of Trust, dated as of April
27, 2007, among the Company, as Depositor, Deutsche Bank Trust Company Americas, as the Property
Trustee, Deutsche Bank Trust Company Delaware, as the Delaware Trustee, and the Administrative
Trustees named therein.

     “Applicable Percentage” has the meaning specified in the Replacement Capital Covenant.

     “Applicable Spread” means (i) 0.50% in the case of a redemption of all Outstanding JSNs in
connection with a Tax Event or Rating Agency Event and (ii) 0.30% in the case of any other
redemption.

     “Business Combination” means a merger, consolidation, amalgamation or conveyance, transfer or
lease of assets substantially as an entirety by one Person to any other Person.

     “Calculation Agent” means Deutsche Bank Trust Company Americas, or any other firm appointed by
the Company, acting as calculation agent.

     A “Capital Treatment Event” means the reasonable determination by the Company that, as a
result of (i) the occurrence of any amendment to, or change, including any announced prospective
change, in the laws or regulations of the United States or any political subdivision thereof or
therein or any rules, guidelines or policies of the Federal Reserve, or (ii) any official or
administrative pronouncement or action or judicial decision interpreting or applying United States
laws or regulations, that is effective or is announced on or after the date hereof, there is more
than an insubstantial risk that the Company will not be entitled to treat an amount equal to the
aggregate liquidation amount of the Trust Preferred Securities as Tier 1 capital under the
risk-based capital adequacy guidelines of the Federal Reserve.

     “Commercially Reasonable Efforts” to sell Qualifying Capital Securities means commercially
reasonable efforts to complete the offer and sale of Qualifying Capital Securities to Persons other
than Subsidiaries in public offerings or private placements. The Company will not be considered to
have made

 Supplemental Indenture

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Commercially Reasonable Efforts to effect a sale of Qualifying Capital Securities if it
determines not to pursue or complete such sale due to pricing, coupon, dividend rate or dilution
considerations.

     “Common Stock” means the common stock of the Company.

     “Common Equity Issuance Cap” has the meaning specified in Section 2.7(a).

     “Company” has the meaning specified in the Recitals.

     “Current Stock Market Price” means, with respect to Common Stock on any date, (i) the closing
sale price per share (or if no closing sale price is reported, the average of the bid and ask
prices or, if more than one in either case, the average of the average bid and the average ask
prices) on that date as reported in composite transactions by the New York Stock Exchange or, if
Common Stock is not then listed on the New York Stock Exchange, as reported by the principal U.S.
securities exchange on which Common Stock is traded or quoted on the relevant date, (ii) if Common
Stock is not listed on any U.S. securities exchange on the relevant date the last quoted bid price
for Common Stock in the over-the-counter market on the relevant date as reported by the National
Quotation Bureau or similar organization, or (iii) if Common Stock is not so quoted the average of
the mid-point of the last bid and ask prices for Common Stock on the relevant date from each of at
least three nationally recognized independent investment banking firms selected by the Company for
this purpose.

     “Deferral Period” means the period commencing on an Interest Payment Date with respect to
which the Company elects to defer interest pursuant to Section 2.5 and ending on the earlier of (i)
the tenth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on
which the Company has paid the amount deferred, all deferred amounts with respect to any subsequent
period and all other accrued and unpaid interest on the JSNs. The settlement of all deferred
interest pursuant to Section 2.5(c), whether it occurs on an Interest Payment Date or another date,
will immediately terminate the Deferral Period.

     “Eligible Proceeds” means, for each relevant Interest Payment Date, the net proceeds (after
deducting underwriters’ or placement agents’ fees, commissions or discounts and other expenses
relating to the issuance or sale) the Company has received during the 180-day period prior to such
Interest Payment Date from the issuance or sale of Qualifying APM Securities (excluding sales of
Qualifying Preferred Stock in excess of the Preferred Stock Issuance Cap) to Persons that are not
the Company’s Subsidiaries.

     “Federal Reserve” means the Board of Governors of the Federal Reserve System, together with
the Federal Reserve Bank of Atlanta, Georgia, or any successor federal bank regulatory agency
having primary jurisdiction over the Company.

     “Final Repayment Date” means May 1, 2077 or, if such day is not a Business Day, the following
Business Day.

     “Fitch” means Fitch Ratings.

     “Guarantee Agreement” means the Guarantee Agreement between the Company, as guarantor, and
Deutsche Bank Trust Company Americas, as guarantee trustee, dated as of April 27, 2007.

     “Indenture” has the meaning specified in the Recitals.

 Supplemental Indenture

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     “Intent-Based Replacement Disclosure” has the meaning specified in the Replacement Capital
Covenant.

     “Interest Payment Date” has the meaning specified in Section 2.4.

     “Interest Period” means the period from, and including, any Interest Payment Date (or, in the
case of the first Interest Period, April 27, 2007) to but excluding the next Interest Payment Date.

     An “Investment Company Event” means the receipt by the Company and the Trust of an Opinion of
Counsel to the effect that, as a result of the occurrence of a change in law or regulation or a
written change,
including any announced prospective change, in interpretation or application of law or
regulation by any legislative body, court, governmental agency or regulatory authority, there is
more than an insubstantial risk that the Trust is or will be considered an investment company that
is required to be registered under the Investment Company Act of 1940, and this change becomes
effective or would become effective on or after the date hereof.

     “JSN” has the meaning specified in Section 2.1.

     “LIBOR” means, with respect to any monthly or quarterly Interest Period, the rate (expressed
as a percentage per annum) for deposits in U.S. dollars for a one- or three-month period, as
applicable, commencing on the first day of that monthly or quarterly Interest Period that appears
on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on the LIBOR Determination Date
for that monthly or quarterly Interest Period, as the case may be. If such rate does not appear
on Reuters Screen LIBOR01 Page, one- or three-month LIBOR will be determined on the basis of the
rates at which deposits in U.S. dollars for a one- or three-month period commencing on the first
day of that monthly or quarterly Interest Period, as applicable, and in a principal amount of not
less than $1,000,000 are offered to prime banks in the London interbank market by four major banks
in the London interbank market selected by the Calculation Agent (after consultation with the
Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that
monthly or quarterly Interest Period. The Calculation Agent will request the principal London
office of each of such banks to provide a quotation of its rate. If at least two such quotations
are provided, one- or three-month LIBOR with respect to that monthly or quarterly Interest Period,
as applicable, will be the arithmetic mean (rounded upward if necessary to the nearest whole
multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, one- or
three-month LIBOR with respect to that monthly or quarterly Interest Period, as applicable, will be
the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the
rates quoted by three major banks in New York City selected by the Calculation Agent, at
approximately 11:00 a.m., New York City time, on the first day of that monthly or quarterly
Interest Period, as applicable, for loans in U.S. dollars to leading European banks for a one- or
three-month period, as applicable, commencing on the first day of that monthly or quarterly
Interest Period and in a principal amount of not less than $1,000,000. However, if fewer than
three banks selected by the Calculation Agent to provide quotations are quoting as described above,
one- or three-month LIBOR for that monthly or quarterly Interest Period, as applicable, will be the
same as one- or three-month LIBOR as determined for the previous Interest Period or, in the case of
the quarterly Interest Period beginning on May 15, 2027, 5.355%. The establishment of one- or
three-month LIBOR for each monthly or quarterly Interest Period, as applicable, by the Calculation
Agent shall (in the absence of manifest error) be final and binding.

     “LIBOR Determination Date” means the second London Banking Day immediately preceding the first
day of the relevant monthly or quarterly Interest Period.

 Supplemental Indenture

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     “London Banking Day” means any day on which commercial banks are open for general business
(including dealings in deposits in U.S. dollars) in London, England.

     “Make-Whole Redemption Price” is equal to (x) 100% of the principal amount of the JSNs being
redeemed or (y) if greater, (A) in the case of a redemption prior to May 15, 2027, the sum of the
present values of the principal amount of the JSNs and each interest payment thereon that would
have been payable to and including May 15, 2027 (not including any portion of such payments of
interest accrued as of the Redemption Date), discounted from May 15, 2027 or the applicable
Interest Payment Date to the Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at a discount rate equal to the Treasury Rate plus the
Applicable Spread; and (B) in the case of a redemption after May 15, 2027, the sum of the present
values of the principal amount and each interest payment thereon
that would have been payable to and including May 15, 2047 (not including any portion of such
payments of interest accrued as of the Redemption Date), discounted from May 15, 2047 or the
applicable Interest Payment Date to the Redemption Date on a quarterly basis (assuming a 360-day
year consisting of twelve 30-day months) at a discount rate equal to the three-month LIBOR rate
applicable to the immediately preceding Interest Period, as calculated by the Premium Calculation
Agent; in each case of clauses (x) and (y) above plus accrued and unpaid interest to the Redemption
Date.

     “Market Disruption Event” means, with respect to the issuance or sale of Qualifying Capital
Securities pursuant to Section 2.2 or Qualifying APM Securities pursuant to Section 2.7, the
occurrence or existence of any of the following events or sets of circumstances:

     (i) Trading in securities generally (or in the Common Stock or Preferred Stock
specifically) on the New York Stock Exchange or any other national securities
exchange, or in the over-the-counter market, on which Common Stock and/or Preferred
Stock is then listed or traded shall have been suspended or the settlement of such
trading generally shall have been materially disrupted or minimum prices shall have
been established on any such exchange or market by the relevant exchange or by any
other regulatory body or governmental agency having jurisdiction, and the
establishment of such minimum prices materially disrupts or otherwise has a material
adverse effect on trading in, or the issuance and sale of, Qualifying APM Securities
or Qualifying Capital Securities, as the case may be;

     (ii) The Company would be required to obtain the consent or approval of its
shareholders or a regulatory body (including, without limitation, any securities
exchange) or governmental authority to issue or sell Qualifying Capital Securities
or Qualifying APM Securities, as the case may be, and such consent or approval has
not yet been obtained notwithstanding the Company’s commercially reasonable efforts
to obtain such consent or approval, or the Federal Reserve instructs the Company not
to sell or offer for sale Qualifying APM Securities at such time;

     (iii) The number of shares of Common Stock (or, if the Company has amended the
definition of Qualifying APM Securities to eliminate Common Stock, the number of
shares for which any Qualifying Warrants are exercisable) necessary to raise
sufficient proceeds to pay the deferred interest payments would exceed the Shares
Available for Issuance and consent of the Company’s shareholders to increase the
amount of authorized shares has not been obtained despite the Company having used
commercially reasonable efforts to obtain such consent; provided that this Market
Disruption Event will not relieve the Company of its obligation to issue the number
of Shares Available for Issuance (or

 Supplemental Indenture

-5-

 

Qualifying Warrants exercisable for such number
of shares) and to apply the proceeds thereof in partial payment of deferred
interest;

     (iv) A banking moratorium shall have been declared by the federal or state
authorities of the United States and such moratorium materially disrupts or
otherwise has a material adverse effect on trading in, or the issuance and sale of,
the Qualifying APM Securities or Qualifying Capital Securities, as the case may be;

     (v) A material disruption shall have occurred in commercial banking or
securities settlement or clearance services in the United States and such disruption
materially disrupts or otherwise has a material adverse effect on trading in, or the
issuance
and sale of, the Qualifying APM Securities or Qualifying Capital Securities, as
the case may be;

     (vi) The United States shall have become engaged in hostilities, there shall
have been an escalation in hostilities involving the United States, there shall have
been a declaration of a national emergency or war by the United States or there
shall have occurred any other national or international calamity or crisis and such
event materially disrupts or otherwise has a material adverse effect on trading in,
or the issuance and sale of, the Qualifying APM Securities or Qualifying Capital
Securities, as the case may be;

     (vii) There shall have occurred such a material adverse change in general
domestic or international economic, political or financial conditions, including as
a result of terrorist activities, and such change materially disrupts or otherwise
has a material adverse effect on trading in, or the issuance and sale of, the
Qualifying APM Securities or Qualifying Capital Securities, as the case may be;

     (viii) An event occurs and is continuing as a result of which the offering
document for such offer and sale of Qualifying APM Securities or Qualifying Capital
Securities, as the case may be, would, in the reasonable judgment of the Company,
contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading and either (a) the disclosure of that event at such time, in the
reasonable judgment of the Company, is not otherwise required by law and would have
a material adverse effect on the business of the Company or (b) the disclosure
relates to a previously undisclosed proposed or pending material business
transaction, the disclosure of which would impede the ability of the Company to
consummate such transaction, provided that no single suspension period contemplated
by this paragraph (viii) shall exceed 90 consecutive days and multiple suspension
periods contemplated by this paragraph (viii) shall not exceed an aggregate of 90
days in any 180-day period; or

     (ix) The Company reasonably believes that the offering document for such offer
and sale of Qualifying APM Securities or Qualifying Capital Securities, as the case
may be, would not be in compliance with a rule or regulation of the Commission (for
reasons other than those referred to in paragraph (viii) above) and the Company is
unable to comply with such rule or regulation or such compliance is unduly
burdensome, provided that no single suspension period contemplated by this paragraph
(ix) shall exceed 90 consecutive days and multiple suspension periods contemplated
by this paragraph (ix) shall not exceed an aggregate of 90 days in any 180-day
period.

 Supplemental Indenture

-6-

 

     “Moody’s” means Moody’s Investors Service, Inc.

     “Parity Securities” means debt securities or guarantees of the Company that rank upon
liquidation of the Company on a parity with the JSNs, and includes the JSNs.

     “Paying Agent” means, with respect to the JSNs, Deutsche Bank Trust Company Americas or any
other Person, including an affiliate of the Company, authorized by the Company to pay the principal
of or interest on the JSNs on behalf of the Company.

     “Permitted Remedies” has the meaning specified in the Replacement Capital Covenant.

     “Paying Agent Office” means the office of the applicable Paying Agent at which at any
particular time its corporate agency business will principally be administered in a Place of
Payment, which office at the date hereof in the case of Deutsche Bank Trust Company Americas, in
its capacity as Paying Agent with respect to the JSNs under the Indenture, is located at 60 Wall
Street, 27th floor, Mail Stop NYC60-2710, New York, New York 10005, Attention: Trust and
Securities Services.

     “Preferred Stock” means the preferred stock of the Company.

     “Preferred Stock Issuance Cap” has the meaning specified in Section 2.7(a).

     “Premium Calculation Agent” means Deutsche Bank Trust Company Americas, or if that firm is
unwilling or unable to select the comparable treasury issue, an investment banking institution of
national standing appointed by the Property Trustee after consultation with the Company.

     “Prospectus Supplement” means the prospectus supplement dated April 24, 2007 to the prospectus
dated August 3, 2005, pursuant to which the Trust Preferred Securities and the JSNs were offered to
investors.

     “Qualifying APM Securities” means Common Stock, Qualifying Preferred Stock and Qualifying
Warrants.

     “Qualifying Capital Securities” has the meaning specified in the Replacement Capital Covenant.

     “Qualifying Preferred Stock” means non-cumulative perpetual preferred stock of the Company (a)
that ranks pari passu with or junior to all other preferred stock of the Company, (b) as to which
the transaction documents provide for no remedies as a consequence of non-payment of distributions
other than Permitted Remedies and (c) that (i) is non-redeemable, (ii) is subject to Intent-Based
Replacement Disclosure and has a provision that prohibits the Company from making any distributions
thereon upon its failure to satisfy one or more financial tests set forth therein or (iii) is
subject to a Qualifying Replacement Capital Covenant.

     “Qualifying Replacement Capital Covenant” has the meaning specified in the Replacement Capital
Covenant.

     “Qualifying Warrants” means net share settled warrants to purchase Common Stock that (a) have
an exercise price greater than the Current Stock Market Price as of the date the Company agrees to
issue such warrants and (b) the Company is not entitled to redeem for cash and the holders of which
are not entitled to require it to repurchase for cash in any circumstances.

 Supplemental Indenture

-7-

 

     A “Rating Agency Event” means an amendment, clarification or change has occurred in the equity
credit criteria for securities such as the JSNs of any nationally recognized statistical rating
organization within the meaning of Rule 15c3-1 under the Exchange Act that then publishes a rating
for the Company (in this definition, a “rating agency”), which amendment, clarification or change
results in (i) the length of time for which such current criteria are scheduled to be in effect
being shortened with respect to the JSNs or (ii) a lower equity credit for the JSNs than the then
respective equity credit assigned by such rating agency or its predecessor on the date hereof.

     “Repayment Date” means the Scheduled Maturity Date and each Interest Payment Date thereafter
until the Company shall have repaid or redeemed all of the JSNs.

     “Replacement Capital Covenant” means the Replacement Capital Covenant, dated as of April 27,
2007, by the Company, as the same may be amended or supplemented from time to time in accordance
with the provisions thereof and Section 2.2(a)(vii).

     “Responsible Officer” means, with respect to Deutsche Bank Trust Company Americas in its
capacity as Paying Agent, any officer within the Trust and Securities Services (or any successor
department, unit or division of Deutsche Bank Trust Company Americas) assigned to the Paying Agent
Office of Deutsche Bank Trust Company Americas, in its capacity as Paying Agent, who has direct
responsibility for the administration of the Paying Agent functions of the Indenture.

     “Reuters Screen LIBOR01 Page” means the display designated on the Reuters Screen LIBOR01 Page
(or such other page as may replace the Reuters Screen LIBOR01 Page on the service or such other
service as may be nominated by the British Bankers’ Association for the purpose of displaying
London interbank offered rates for U.S. Dollar deposits).

     “S&P” means Standard & Poor’s Ratings Services, a division of McGraw Hill, Inc.

     “Scheduled Maturity Date” means May 15, 2047, or if that day is not a Business Day, the next
Business Day.

     “Securities Registrar” means, with respect to the JSNs, Deutsche Bank Trust Company Americas,
or any other firm appointed by the Company, acting as securities registrar for the JSNs.

     “Securities Registrar Office” means the office of the applicable Securities Registrar at which
at any particular time its corporate agency business will principally be administered, which office
at the date hereof in the case of Deutsche Bank Trust Company Americas, in its capacity as
Securities Registrar under the Indenture, is located at 60 Wall Street, 27th floor, Mail
Stop NYC60-2710, New York, New York 10005, Attention: Trust and Securities Services.

     “Shares Available for Issuance” will be the number of shares of Common Stock determined by
Regions, at any time, by (i) deducting from the number of authorized and unissued shares
of Common Stock the maximum number of shares of Common Stock that can be issued under reservations
and commitments existing at the time of such determination under which the Company is able to
determine such maximum number and (ii) allocating remaining authorized and unissued shares of
Common Stock on a pro rata basis or such other basis as the Company determines is appropriate to
the alternative payment mechanism described in Section 2.7 and to any other similar commitment
existing at the time of such determination that is of an indeterminate nature and under which the
Company is then required to issue shares.

 Supplemental Indenture

-8-

 

     A “Supervisory Event” shall commence on the date the Company has notified the Federal Reserve
of its intention and affirmatively requested Federal Reserve approval both (1) to sell Qualifying
APM Securities and (2) to apply the net proceeds of such sale to pay deferred interest on the JSNs,
and the Company has been notified that the Federal Reserve disapproves of either of these actions
and shall cease on the Business Day following the earlier to occur of (i) the 10th
anniversary of the commencement of any Deferral Period or (ii) the day on which the Federal Reserve
notifies the Company in writing that it no longer disapproves of the Company’s intention to both
(1) issue or sell Qualifying APM Securities and (2) apply the net proceeds from such sale to pay
deferred interest on the JSNs.

     “Supplemental Indenture” means this instrument as originally executed or as it may from time
to time be supplemented or amended by one or more agreements supplemental hereto entered into
pursuant to the applicable provisions hereof.

     A “Tax Event” means the receipt by the Company and the Trust of an Opinion of Counsel to the
effect that, as a result of (i) any amendment to, or change, including an announced prospective
change, in the laws or any regulations of the United States or any political subdivision or taxing
authority of or in the United States that is enacted or issued or becomes effective after the date
hereof, (ii) any official or administrative pronouncement or action or judicial decision
interpreting or applying United States laws or regulations that is announced on or after the date
hereof, or (iii) any threatened challenge asserted in connection with an audit of the Company or
its Subsidiaries, or a threatened challenge asserted in writing against any tax payer that has
raised capital through the issuance of securities that are substantially similar to the JSNs and
which securities were rated investment grade at the time of issue of such securities, there is more
than an insubstantial increase in risk that (x) the Trust is or will be subject to United States
federal income tax with respect to income received or accrued on the JSNs; (y) interest payable by
the Company on the JSNs is not or will not be deductible by the Company, in whole or in part, for
United States federal income tax purposes; or (z) the Trust is subject to more than an
insignificant amount of other taxes, duties or other governmental charges.

     “Trading Day” means a day on which Common Stock is traded on the New York Stock Exchange, or
if not then listed on the New York Stock Exchange, a day on which Common Stock is traded or quoted
on the principal U.S. securities exchange on which it is listed or quoted, or if not then listed or
quoted on a U.S. securities exchange, a day on which Common Stock is quoted in the over-the-counter
market.

     “Treasury Dealer” means Goldman, Sachs & Co. (or its successor) or, if Goldman, Sachs & Co.
(or its successor) refuses to act as treasury dealer for this purpose or ceases to be a primary
U.S. Government securities dealer, another nationally recognized investment banking firm that is a
primary U.S. Government securities dealer specified by us for these purposes.

     “Treasury Rate” means the semi-annual equivalent yield to maturity of the Treasury Security
that corresponds to the Treasury Price (calculated in accordance with standard market practice and
computed as of the second trading day preceding the Redemption Date).

     “Treasury Security” means the United States Treasury security that the Treasury Dealer
determines would be appropriate to use, at the time of determination and in accordance with
standard market practice, in pricing the JSNs being redeemed in a tender offer based on a spread to
United States Treasury yields.

     “Treasury Price” means the bid-side price for the Treasury Security as of the third trading
day preceding the Redemption Date, as set forth in the daily statistical release (or any successor
release) published by the Federal Reserve Bank of New York on that trading day and designated
“Composite 3:30 p.m. Quotations for U.S. Government Securities”, except that: (i) if that release
(or any successor release) is

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not published or does not contain that price information on that
trading day; or (ii) if the Treasury Dealer determines that the price information is not reasonably
reflective of the actual bid-side price of the Treasury Security prevailing at 3:30 p.m., New York
City time, on that trading day, then Treasury Price will instead mean the bid-side price for the
Treasury Security at or around 3:30 p.m., New York City time, on that trading day (expressed on a
next trading day settlement basis) as determined by the Treasury Dealer through such alternative
means as the Treasury Dealer considers to be appropriate under the circumstances.

     “Trust” has the meaning specified in the Recitals.

     “Trust Common Securities” has the meaning specified in the Recitals.

     “Trustee” has the meaning specified in the Recitals.

     “Trust Preferred Securities” has the meaning specified in the Recitals.

     “Trust Securities” has the meaning specified in the Recitals.

     “Underwriting Agreement” means the Underwriting Agreement, dated April 24, 2007, among the
Trust, the Company and the underwriters named therein.

ARTICLE II

General Terms and Conditions of the JSNs

     Section 2.1. Designation, Principal Amount and Authorized Denomination

     There is hereby authorized a series of Securities designated the Junior Subordinated Notes
(the “JSNs”), the amount of which to be issued will be as set forth in any Company Order for the
authentication and delivery of JSNs pursuant to the Indenture. The denominations in which JSNs
will be issuable are $1,000 principal amount and integral multiples thereof. The maximum aggregate
principal amount of JSNs that may be authenticated and delivered under the Indenture and this
Supplemental Indenture is $700,010,000 (except for JSNs authenticated and delivered upon
registration of transfer of, or exchange for, or in lieu of, other JSNs pursuant to Section 304,
305, 306, 906 or 1106 of the Indenture or Section 3.5 of this Supplemental Indenture); provided,
however, that the Company may from time to time authenticate and deliver under the Indenture and
this Supplemental Indenture up to $300,000,000 additional principal amount of JSNs, which JSNs may
accrue interest from a different date than the JSNs, as may be specified pursuant to Section 301 of
the Indenture, so long as the Company reasonably determines that the additional JSNs so
authenticated and delivered will be fungible for United States federal income tax purposes and, if
the JSNs are held by the Property Trustee, subject to the satisfaction of the conditions set forth
in the Amended Declaration with respect to the issuance of additional Trust Preferred Securities.
From time to time the Company may execute and deliver, and upon Company Order the Trustee shall
authenticate and deliver, additional JSNs.

     Section 2.2. Repayment

     (a) Scheduled Maturity Date.

     (i) The principal amount of, and, subject to Section 2.7(b), all accrued and
unpaid interest on, the JSNs will be payable in full on the Scheduled Maturity Date;
provided, however, that in the event the Company has delivered an Officers’
Certificate to

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the Trustee pursuant to clause (v) of this Section 2.2(a) in
connection with the Scheduled Maturity Date, (x) the principal amount of JSNs
payable on the Scheduled Maturity Date, if any, will be equal to the Applicable
Percentage of the net proceeds raised by the Company from the sale of Qualifying
Capital Securities during the period referred to in clause (A) of Section
2.2(a)(iv), subject to Section 2.2(a)(vi), (y) such principal amount of JSNs will be
repaid on the Scheduled Maturity Date pursuant to Article III, and (z) subject to
clause (ii) of this Section 2.2(a), the remaining JSNs will remain outstanding and
will be payable on the immediately succeeding Interest Payment Date or such earlier
date on which they are redeemed pursuant to Section 2.8 or become due and payable
pursuant to
Section 502 of the Indenture. The entire principal amount of the JSNs
outstanding will be due and payable on the Scheduled Maturity Date in the event the
Company does not deliver an Officers’ Certificate to the Trustee during the period
from and including the 15th day immediately preceding the Scheduled
Maturity Date to and including the 10th day immediately preceding the
Scheduled Maturity Date.

     (ii) In the event the Company has delivered an Officers’ Certificate to the
Trustee pursuant to clause (v) of this Section 2.2(a) in connection with any
Interest Payment Date after the Scheduled Maturity Date, the principal amount of
JSNs repayable on such Interest Payment Date will be equal to the Applicable
Percentage of the net proceeds raised by the Company from the sale of Qualifying
Capital Securities during the period referred to in clause (B) of Section
2.2(a)(iv), subject to Section 2.2(a)(vi), and will be repaid on such Interest
Payment Date pursuant to Article III, and the remaining JSNs will remain outstanding
and will be payable on the immediately succeeding Interest Payment Date or such
earlier date on which they are redeemed pursuant to Section 2.8 or become due and
payable pursuant to Section 502 of the Indenture. The entire principal amount of
the JSNs outstanding will be due and payable on any Interest Payment Date after the
Scheduled Maturity Date in the event the Company does not deliver an Officers’
Certificate to the Trustee during the period from and including the 15th
day immediately preceding such Interest Payment Date to and including the
10th day immediately preceding such Interest Payment Date.

     (iii) The obligation of the Company to repay the JSNs pursuant to this Section
2.2(a) on any date before the Final Repayment Date will be subject to (x) its
obligations under Article XVII of the Indenture to the holders of Senior Debt and
(y) its obligations under Section 2.5 with respect to the payment of deferred
interest on the JSNs.

     (iv) Until the JSNs are paid in full, the Company will use Commercially
Reasonable Efforts, subject to a Market Disruption Event:

     (A) to raise sufficient net proceeds from the issuance of Qualifying
Capital Securities during a 180-day period ending on the date, not more than
15 and not less than 10 days before the Scheduled Maturity Date, on which
the Company delivers the notice required by clause (v) of this Section
2.2(a) and Section 3.1, to permit repayment of the entire principal amount
of the JSNs in full on the Scheduled Maturity Date pursuant to clause (ii)
of this Section 2.2(a); and

     (B) if the Company is unable for any reason to raise sufficient
proceeds from the issuance of Qualifying Capital Securities to permit
repayment in full of the entire principal amount of the JSNs on the
Scheduled Maturity Date (as required by clause (A) above) or any subsequent
Interest Payment Date, to raise

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sufficient net proceeds from the issuance of
Qualifying Capital Securities during a 30-day period ending on the date, not
more than 15 and not less than 10 days before the following Interest Payment
Date, on which the Company delivers the notice required by clause (v) of
this Section 2.2(a) and Section 3.1, to permit repayment of the JSNs in full
on such following Interest Payment Date pursuant to clauses (i)(z) and (ii)
of this Section 2.2(a).

     (v) The Company shall, if it has not raised sufficient net proceeds from the
issuance of Qualifying Capital Securities pursuant to clause (iv) above in
connection with
any Repayment Date, deliver an Officers’ Certificate to the Trustee (which the
Trustee shall promptly forward upon receipt to the Property Trustee) no more than 15
and no less than 10 days in advance of such Repayment Date stating the amount of net
proceeds, if any, raised pursuant to clause (iv) above in connection with such
Repayment Date, the Applicable Percentage applicable thereto and the corresponding
principal amount of the JSNs to be repaid on such Repayment Date pursuant to clause
(i) or (ii) above. The Company shall be excused from its obligation to use
Commercially Reasonable Efforts to sell Qualifying Capital Securities pursuant to
clause (iv) above if such Officers’ Certificate further certifies that: (A) a Market
Disruption Event was existing during the 180-day period preceding the date of such
Officers’ Certificate or, in the case of any Repayment Date after the Scheduled
Maturity Date, the 30-day period preceding the date of such Officers’ Certificate;
and (B) either (1) the Market Disruption Event continued for the entire 180- or
30-day period, as the case may be, or (2) the Market Disruption Event continued for
only part of the period, but the Company was unable after Commercially Reasonable
Efforts to raise sufficient net proceeds during the rest of that period to permit
repayment of the entire principal amount of the JSNs in full pursuant to clause (iv)
above. Each Officers’ Certificate delivered pursuant to this clause (v), unless no
principal amount of JSNs is to be repaid on the applicable Repayment Date, will be
accompanied by a notice of repayment pursuant to Section 3.1 setting forth the
principal amount of the JSNs to be repaid on such Repayment Date, if any, which
amount will be determined after giving effect to clause (vi) of this Section 2.2(a).

     (vi) Payments in respect of the JSNs on any Repayment Date will be applied,
first, to deferred interest to the extent of Eligible Proceeds raised pursuant to
Section 2.7, second, to pay current interest to the extent not paid from other
sources and, third, to the principal of the JSNs; provided that if the Company is
obligated to sell Qualifying Capital Securities and make payments of principal on
any outstanding securities in addition to the JSNs in respect thereof, then on any
date and for any period such payments will be applied to the JSNs and those other
securities having the same scheduled maturity date as the JSNs pro rata in
accordance with their respective outstanding principal amounts and no such payments
will be made to any other securities having a later scheduled maturity date until
the principal of the JSNs has been paid in full, except to the extent permitted by
Sections 2.6(a) and 2.7(c). Notwithstanding the foregoing, if the Company raises
less than $5 million of net proceeds from the sale of Qualifying Capital Securities
during the 180- or 30-day period referred to in clause (iv) above, the Company will
not be required to repay any JSNs on the applicable Repayment Date. On the next
Interest Payment Date as of which the Company has raised at least $5 million of net
proceeds during the 180-day period preceding the notice date referred to in clause
(v) above (or, if shorter, the period since the Company last repaid any principal
amount of JSNs), the Company shall be required to

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repay a principal amount of the
JSNs equal to the entire net proceeds from the sale of Qualifying Capital Securities
during such 180-day or shorter period.

     (vii) The Company shall not amend the Replacement Capital Covenant to amend the
definitions incorporated into this Supplemental Indenture pursuant to Section 1.1 or
to impose additional restrictions on the type or amount of Qualifying Capital
Securities that the Company may include for purposes of determining when repayment,
redemption or purchase of the JSNs or the Trust Preferred Securities is permitted,
except with the consent of holders of a majority by liquidation amount of the Trust
Preferred Securities or, if the JSNs have been distributed by the Trust to the
holders of the Trust
Preferred Securities, a majority by principal amount of the JSNs. Except as
aforesaid, the Company may amend or supplement the Replacement Capital Covenant in
accordance with its terms and without the consent of the holders of the Trust
Preferred Securities or the JSNs.

     (b) Final Repayment Date. The principal of, and all accrued and unpaid
interest on, all outstanding JSNs will be due and payable on the Final Repayment Date,
regardless of the amount of Qualifying Capital Securities or Qualifying APM Securities the
Company may have issued and sold by that time.

     Section 2.3. Form

     The JSNs will be issued in fully registered definitive form without interest coupons.
Principal of and interest on the JSNs issued in definitive form will be payable, the transfer of
such JSNs will be registrable and such JSNs will be exchangeable for JSNs bearing identical terms
and provisions and notices and demands to or upon the Company in respect of the JSNs and the
Indenture may be served at the Corporate Trust Office of the Trustee, and the Company appoints the
Trustee as its agent for the foregoing purposes, provided that payment of interest may be made at
the option of the Company by check mailed to the Holder at such address as will appear in the
Securities Register or by wire transfer in immediately available funds to the bank account number
of the Holder specified in writing by the Holder not less than 10 days before the relevant Interest
Payment Date and entered in the Securities Register by the Securities Registrar, provided, further,
that if the Property Trustee, on behalf of the Trust, is the sole Holder of the JSNs then payment
of interest will be made by wire transfer in immediately available funds to a bank account number
specified by the Property Trustee. The JSNs may be presented for registration of transfer or
exchange at the Securities Registrar Office.

     Section 2.4. Rate of Interest; Interest Payment Dates

     (a) Rate of Interest. The JSNs will bear interest (i) at the annual rate of
6.625%, from and including April 27, 2007 to but excluding May 15, 2027, (ii) at an annual
rate equal to three-month LIBOR plus 1.29%, from and including May 15, 2027 to but excluding
May 15, 2047, and (iii) at an annual rate equal to one-month LIBOR plus 2.29% thereafter.
The interest will accrue from April 27, 2007 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, as the case may be, until the
principal thereof is paid or made available for payment. Interest will be computed on the
basis of (i) a 360-day year comprised of twelve 30-day months with respect to any Interest
Period ending on or prior to May 15, 2027 and (ii) a 360-day year and the actual number of
days elapsed with respect to any other Interest Period. Accrued interest that is not paid
on the applicable Interest Payment Date (after giving effect to the adjustments described in
the last sentence of Section 2.4(b)), including interest deferred pursuant to Section 2.5,
will bear Additional Interest, to the extent permitted by law, at the then-applicable rate

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described in this paragraph from the relevant Interest Payment Date, compounded on each
subsequent Interest Payment Date.

     (b) Interest Payment Dates. Subject to the other provisions hereof, interest
on the JSNs will be payable (i) semi-annually in arrears on May 15 and November 15 of each
year, beginning on November 15, 2007 until May 15, 2027, (ii) quarterly in arrears on
February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2027
until May 15, 2047 and (iii) thereafter monthly in arrears on the 15th day of each month,
beginning on June 15, 2047 (each such date, an “Interest Payment Date”); provided, however,
if any Interest Payment Date described in clause (ii) or (iii) of this paragraph falls on a
day that is not a Business Day, the
applicable Interest Payment Date shall instead occur on the immediately succeeding
Business Day. If any Interest Payment Date scheduled on or prior to the regularly scheduled
Interest Payment Date in May 2027 occurs on a day that is not a Business Day, the payment of
interest for such Interest Payment Date shall be made (or such interest shall be made
available for payment) on the next succeeding Business Day with the same force and effect as
if such payment were made on the relevant Interest Payment Date.

     Section 2.5. Interest Deferral

     (a) Option to Defer Interest Payments. The following provisions shall apply to
the JSNs in lieu of Section 311 and the first paragraph of Section 1014 of the Indenture:

     (i) The Company will have the right at any time and from time to time, to defer
the payment of interest on the JSNs for one or more consecutive Interest Periods up
to 10 years; provided that no Deferral Period will extend beyond the Final Repayment
Date or the earlier redemption of the JSNs. Upon termination of any Deferral Period
and upon the payment of all deferred interest then due on any Interest Payment Date,
the Company may elect to begin a new Deferral Period pursuant to this Section 2.5.

     (ii) At the end of any Deferral Period, the Company will pay all deferred
interest on the JSNs to the Persons in whose names the JSNs are registered in the
Securities Register at the close of business on the Regular Record Date with respect
to the Interest Payment Date at the end of such Deferral Period.

     (iii) The Company may elect to pay interest on any Interest Payment Date during
any Deferral Period to the extent permitted by Section 2.5(b).

     (b) Payment of Deferred Interest. The Company will not pay deferred interest
on the JSNs before the Final Repayment Date or at any time an Event of Default has occurred
and is continuing from any source other than Eligible Proceeds. Notwithstanding the
foregoing, (i) the Company may pay current interest during a Deferral Period or at any other
time from any available funds and (ii) if a Supervisory Event has occurred and is
continuing, then the Company may (but is not obligated to) pay deferred interest with cash
from any source. In addition, if the Company sells Qualifying APM Securities pursuant to
Section 2.7 but a Supervisory Event arises from the Federal Reserve disapproving the use of
the proceeds to pay deferred interest, the Company may use the proceeds for other purposes
and continue to defer interest on the JSNs.

     (c) Business Combination Exception. If the Company is involved in a Business
Combination where immediately after its consummation more than 50% of the voting stock of
the Person formed by such Business Combination, or the Person that is the surviving entity
of such

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Business Combination, or the Person to whom such properties and assets are conveyed,
transferred or leased in such Business Combination, is owned by the shareholders of the
other party to such Business Combination, then Section 2.5(b) and Section 2.7 will not apply
to any Deferral Period that is terminated on the next Interest Payment Date following the
date of consummation of such Business Combination (or if later, at any time within 90 days
following the date of consummation of the Business Combination). The Company will establish
a Special Record Date for the payment of any deferred interest pursuant to this Section
2.5(c) on a date other than an Interest Payment Date.

     (d) Notice of Deferral. The Company will give written notice of its election
to begin or extend any Deferral Period, (x) if the Property Trustee, on behalf of the Trust,
is the sole Holder of the JSNs, to the Property Trustee and the Delaware Trustee at least
five Business Days before the earlier of (A) the next succeeding date on which the
distributions on the Trust Preferred Securities are payable and (B) the date the Property
Trustee is required to give notice to holders of the Trust Preferred Securities of the
record or payment date for the related distribution, or (y) if the Property Trustee, on
behalf of the Trust, is not the sole Holder of the JSNs, to each Holder of the JSNs and the
Trustee at least five Business Days before the next Interest Payment Date. Notice of the
Company’s election of a Deferral Period will be given by the Property Trustee by first-class
mail, postage prepaid, mailed not less than three Business Days after the Property Trustee
receives written notice from the Company to each holder of Trust Securities at such holder’s
address appearing in the Security Register.

     Section 2.6. Dividend and Other Payment Stoppages

     (a) During Deferral Period. So long as any JSNs remain Outstanding, if the
Company has given notice of its election to defer interest payments on the JSNs but the
related Deferral Period has not yet commenced or a Deferral Period is continuing, the
Company will not, and will not permit any Subsidiary to:

     (i) declare or pay any dividends or distributions, or redeem, purchase, acquire
or make a liquidation payment with respect to, any shares of capital stock of the
Company;

     (ii) make any payment of principal of or interest or premium, if any, on or
repay, purchase or redeem any Parity Securities or any debt securities or guarantees
of the Company that rank junior in interest upon liquidation to the JSNs; or

     (iii) make any payments under any guarantee by the Company that ranks junior to
the Guarantee Agreement;

provided, however, the restrictions in clauses (i), (ii) and (iii) above do not apply to: (1) any
purchase, redemption or other acquisition of shares of the Company’s capital stock by the Company
in connection with (A) any employment contract, benefit plan or other similar arrangement with or
for the benefit of any one or more of its employees, officers, directors or consultants, (B) a
dividend reinvestment or shareholder purchase plan, (C) transactions effected by or for the account
of customers of the Company or any of its affiliates or in connection with the distribution,
trading or market-making in respect of the Trust Preferred Securities or (D) the issuance of the
Company’s capital stock, or securities convertible into or exercisable for such capital stock, as
consideration in an acquisition transaction entered into before the applicable Deferral Period, (2)
any exchange or conversion of any class or series of the Company’s capital stock, or the capital
stock of one of its Subsidiaries, for any other class or series of its capital stock, or of any
class or series of its indebtedness for any class or series of its capital stock, (3) any purchase
of fractional interests in

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 shares of the Company’s capital stock pursuant to the conversion or
exchange provisions of such capital stock or the securities being converted or exchanged, (4) any
declaration of a dividend in connection with any shareholder rights plan, or the issuance of
rights, stock or other property under any shareholder rights plan, or the redemption or purchase of
rights pursuant thereto, (5) any dividend in the form of stock, warrants, options or other rights
where the dividend stock or stock issuable upon exercise of such warrants, options or other rights
is the same stock as that on which the dividend is being paid or ranks equally with or junior to
such stock, (6) any payment of current or deferred interest on Parity Securities that is made pro
rata to the amounts due on such Parity Securities (including the JSNs), provided that such payments
are made in accordance with Section 2.7(c) to the extent it applies, and any payment of deferred
interest on
Parity Securities that, if not made, would cause the Company to breach the terms of the instrument
governing such Parity Securities, or (7) any payment of principal in respect of Parity Securities
having the same scheduled maturity date as the Scheduled Maturity Date for the JSNs, as required
under a provision of such other Parity Securities that is substantially the same as the provision
described under Section 2.2, and that is made on a pro rata basis among one or more series of
Parity Securities (including the JSNs) having such a provision. The distribution restrictions and
exceptions in this Section 2.6 will be in lieu of the distribution restrictions and exceptions in
Section 311 of the Indenture.

     (b) Additional Limitation upon Deferral Lasting over One Year. If any Deferral
Period lasts longer than one year, the Company will not repurchase or acquire any securities
ranking pari passu with or junior to any Qualifying APM Securities the proceeds of which
were used to settle deferred interest during the relevant Deferral Period before the first
anniversary of the date on which all deferred interest on the JSNs has been paid, subject to
the exceptions listed in clauses (1) through (7) of Section 2.6(a). However, if the Company
is involved in a Business Combination where immediately after its consummation more than 50%
of the voting stock of the Person formed by such Business Combination, or the Person that is
the surviving entity of such Business Combination, or the Person to whom such properties and
assets are conveyed, transferred or leased in such Business Combination, is owned by the
shareholders of the other party to such Business Combination, then the limitation set forth
in this Section 2.6(b) will not apply to any Deferral Period that is terminated on the next
Interest Payment Date following the date of consummation of such Business Combination (or if
later, at any time within 90 days following the date of consummation of the Business
Combination).

     Section 2.7. Alternative Payment Mechanism

     (a) Obligation to Issue Qualifying APM Securities. Commencing not later than
the earlier of (i) the first Interest Payment Date following the commencement of any
Deferral Period on which the Company pays any current interest on the JSNs from any source
of funds or (ii) the fifth anniversary of the commencement of such Deferral Period, the
Company shall, subject to the occurrence and continuation of a Supervisory Event or a Market
Disruption Event as described under Section 2.7(b) and subject to Section 2.5(c), issue one
or more types of Qualifying APM Securities until the Company has raised an amount of
Eligible Proceeds at least equal to the aggregate amount of accrued and unpaid deferred
interest on the JSNs and applied such Eligible Proceeds on the next Interest Payment Date to
the payment of deferred interest in accordance with Section 2.5, provided that:

     (i) the foregoing obligations will not apply to the extent that, with respect
to deferred interest attributable to the first five years of any Deferral Period,
the net proceeds of any issuance of Common Stock (or Qualifying Warrants if the
definition of Qualifying APM Securities has been modified to exclude Common Stock)
applied during such

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Deferral Period to pay interest on the JSNs pursuant to this
Section 2.7, together with the net proceeds of all prior issuances of Common Stock
and Qualifying Warrants so applied during such Deferral Period, would exceed an
amount equal to 2% of the product of the average of the Current Stock Market Prices
of the Common Stock on the 10 consecutive Trading Days ending on the second Trading
Day immediately preceding the date of issuance multiplied by the total number of
issued and outstanding shares of Common Stock as of the date of the Company’s then
most recent publicly available consolidated financial statements (the “Common Equity
Issuance Cap”); provided that the Common Equity Issuance Cap will cease to apply
after the ninth anniversary of the commencement of any
Deferral Period, at which point the Company must pay any deferred interest
regardless of the time at which it was deferred, pursuant to this Section 2.7,
subject to any Supervisory Event or Market Disruption Event; and provided, further,
that if the Common Equity Issuance Cap is reached during a Deferral Period and the
Company subsequently repays all deferred interest, the Common Equity Issuance Cap
will cease to apply at the termination of such Deferral Period and will not apply
again unless and until the Company starts a new Deferral Period; and

     (ii) the Company shall not be required or permitted to issue Qualifying
Preferred Stock to pay deferred interest on the JSNs, and the foregoing obligations
will not apply, to the extent that the net proceeds of any issuance of Qualifying
Preferred Stock applied to pay interest on the JSNs pursuant to this Section 2.7,
together with the net proceeds of all prior issuances of Preferred Stock so applied
during the current and all prior Deferral Periods, would exceed 25% of the aggregate
principal amount of the outstanding JSNs (the “Preferred Stock Issuance Cap”).

     For the avoidance of doubt, (x) once the Company reaches the Common Equity Issuance Cap for a
Deferral Period, the Company will not be required to issue more Common Stock (or Qualifying
Warrants if the definition of Qualifying APM Securities has been modified to exclude Common Stock)
with respect to deferred interest attributable to the first five years of such Deferral Period
pursuant to this Section 2.7, even if the amount referred to in clause (i) of this Section 2.7
subsequently increases because of a subsequent increase in the Current Stock Market Price of Common
Stock or the number of outstanding shares of Common Stock, and (y) so long as the definition of
Qualifying APM Securities has not been amended to eliminate Common Stock, the sale of Qualifying
Warrants to pay deferred interest is an option that may be exercised at the Company’s sole
discretion and the Company is not obligated to sell Qualifying Warrants or to apply the proceeds of
any such sale to pay deferred interest on the JSNs, and no class of investors of the Company’s
securities, or any other party, may require the Company to issue Qualifying Warrants.

     (b) Market Disruption Event and Supervisory Event. Section 2.7(a) will not
apply with respect to any Interest Payment Date if the Company shall have provided to the
Trustee (and to the Property Trustee of the Trust to the extent the Trust is the sole Holder
of the JSNs) no more than 15 and no less than 10 days before such Interest Payment Date an
Officers’ Certificate stating that (i) a Market Disruption Event or Supervisory Event was
existing after the immediately preceding Interest Payment Date and (ii) either (x) the
Market Disruption Event or Supervisory Event continued for the entire period from the
Business Day immediately following the preceding Interest Payment Date to the Business Day
immediately preceding the date on which such Officers’ Certificate is provided, (y) the
Market Disruption Event or Supervisory Event continued for only part of such period but the
Company was unable to raise sufficient Eligible Proceeds during the rest of that period to
pay all accrued and unpaid interest due on the Interest Payment Date with respect to which
such Officers’ Certificate is being delivered or (z) the Supervisory Event prevents the

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Company from applying the net proceeds of sales of Qualifying APM Securities to pay deferred
interest on such Interest Payment Date.

     (c) Partial Payment of Deferred Interest.

     (i) If the Company has raised some but not all Eligible Proceeds necessary to
pay all deferred interest on any Interest Payment Date pursuant to this Section 2.7,
such Eligible Proceeds will be allocated to pay accrued and unpaid interest on the
applicable Interest Payment Date in chronological order based on the date each
payment was first deferred, subject to the Common Equity Issuance Cap and the
Preferred Stock Issuance
Cap, and payment on each installment of deferred interest will be distributed
to Holders of such installment on a pro rata basis.

     (ii) If the Company has outstanding Parity Securities under which the Company
is obligated to sell securities that are Qualifying APM Securities and apply the net
proceeds to the payment of deferred interest or distributions, then on any date and
for any period the amount of net proceeds received by the Company from those sales
and available for payment of the deferred interest and distributions will be applied
to the JSNs and those other Parity Securities on a pro rata basis up to the Common
Equity Issuance Cap and the Preferred Stock Issuance Cap (or comparable provisions
in the instruments governing those other Parity Securities) in proportion to the
total amounts that are due on the JSNs and such other Parity Securities, or on such
other basis as the Federal Reserve may approve. The Company may make such pro rata
payments on such Parity Securities so long as it shall have paid or deposited with
the Paying Agent for the JSNs or segregated and holds in trust for payment the pro
rata amount of deferred interest payable on the JSNs.

     (d) Qualifying APM Securities Definition Change. The Company will send written
notice to the Trustee (which notice the Trustee will promptly forward upon receipt to the
Administrative Trustees, who will forward such notice to each holder of record of Trust
Preferred Securities) prior to the effective date of any change in the definition of
Qualifying APM Securities to eliminate Common Stock or Qualifying Warrants.

     Section 2.8. Redemption of the JSNs

     (a) Redemption. Section 1108 of the Indenture shall not apply to the JSNs.
The JSNs shall be redeemable, at the Company’s option, at any time. The Redemption Price
shall be 100% of the principal amount of JSNs being redeemed, plus accrued and unpaid
interest through the Redemption Date, in the case of any redemption (i) in whole or in part
on May 15, 2027 (or if such day is not a Business Day, the next Business Day), (ii) in whole
but not in part at any time in connection with a Capital Treatment Event or an Investment
Company Event, (iii) in whole but not in part after May 15, 2027 in connection with a Tax
Event, and (iv) in whole or in part at any time on or after May 15, 2047, including on or
after the Scheduled Maturity Date. In all other cases, the Redemption Price of each JSN
being redeemed shall equal the applicable Make-Whole Redemption Price. The Company will
notify the Trust of the applicable Make-Whole Redemption Price (if applicable) promptly
after the calculation thereof and the Trust will have no responsibility for calculating the
Make-Whole Redemption Price. The Company may not redeem the JSNs in part if the principal
amount of the JSNs has been accelerated and such acceleration has not been rescinded unless
all accrued and unpaid interest including deferred interest has been paid in full on all
outstanding JSNs for all Interest Periods terminating on or before the Redemption Date.

 Supplemental Indenture

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     (b) Sinking Fund. The JSNs are not entitled to any sinking fund payments or
similar provisions.

     Section 2.9. Events of Default

     (a) Paragraphs (1) through (7) of Section 501 of the Indenture will not apply to the
JSNs, the occurrence of an event described therein will not be an Event of Default with
respect to the JSNs, and solely for purposes of the JSNs such paragraphs are replaced with
the following
subparagraphs (i) through (iv), the occurrence of any of which shall be an Event of
Default with respect to the JSNs:

     (i) the default in the payment of interest, including Additional Interest, in
full on the JSNs for a period of 30 days after the conclusion of a 10-year period
following the commencement of any Deferral Period;

     (ii) the entry of a decree or order by a court having jurisdiction in the
premises adjudging the Company a bankrupt or insolvent, or approving as properly
filed a petition seeking reorganization, arrangement, adjustment or composition of
or in respect of the Company under any applicable Federal or State bankruptcy,
insolvency, reorganization or other similar law, or appointing a receiver,
liquidator, assignee, trustee, sequestrator (or other similar official) of the
Company or of any substantial part of its property or ordering the winding up or
liquidation of its affairs, and the continuance of any such decree or order unstayed
and in effect for a period of 60 consecutive days;

     (iii) the institution by the Company of proceedings to be adjudicated a
bankrupt or insolvent, or the consent by it to the institution of bankruptcy or
insolvency proceedings against it, or the filing by it of a petition or answer or
consent seeking reorganization or relief under any applicable Federal or State
bankruptcy, insolvency, reorganization or other similar law, or the consent by it to
the filing of any such petition or to the appointment of a receiver, liquidator,
assignee, trustee, sequestrator (or other similar official) of the Company or of any
substantial part of its property, or the making by it of an assignment for the
benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due and its willingness to be adjudicated a bankrupt,
or the taking of corporate action by the Company in furtherance of any such action;

     (iv) a receiver is appointed for Regions Bank under the Federal Deposit
Insurance Act or other applicable law.

     (b) The JSNs shall not have the benefits of the first paragraph of Section 503 of the
Indenture.

     (c) So long as any JSNs are held by or on behalf of the Trust, the Trustee will provide
to the holders of the Trust Preferred Securities such notices as it will from time to time
provide under Section 601 of the Indenture.

     (d) For the avoidance of doubt, and without prejudice to any other remedies that may be
available to the Trustee, the Holders of the JSNs or the holders of the Trust Preferred
Securities under the Indenture, no breach by the Company of any covenant or obligation under
the Indenture or the terms of the JSNs will be an Event of Default with respect to the JSNs
other than those specified as Events of Default in Section 2.9(a).

 Supplemental Indenture

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     (e) The Company shall not enter into any supplemental indenture with the Trustee to add
any additional event of default with respect to the JSNs to the definition of Event of
Default without the consent of the Holders of at least a majority in aggregate principal
amount of outstanding JSNs.

     Section 2.10. Securities Registrar; Paying Agent; Delegation of Trustee Duties

     (a) The Company appoints Deutsche Bank Trust Company Americas as Securities Registrar
and Paying Agent with respect to the JSNs.

     (b) Notwithstanding any provision contained herein, to the extent permitted by
applicable law, the Trustee may delegate its duty to provide such notices and to perform
such other duties as may be required to be provided or performed by the Trustee under the
Indenture, and, to the extent such obligation has been so delegated, the Trustee will not be
responsible for monitoring the compliance of, nor be liable for the default or misconduct
of, any such designee.

     Section 2.11. Obligation to Seek Shareholder Approval to Increase Authorized Share

     (a) Obligation to Seek Shareholder Approval. The Company will use commercially
reasonable efforts to seek shareholder approval to amend its amended and restated
certificate of incorporation to increase the number of its authorized shares if, at any
date, the Shares Available for Issuance fall below the greater of (i) 60,600,000 shares (as
adjusted for any stock split, reverse stock split, stock dividend, reclassification,
recapitalization, split-up, combination, exchange of shares or similar transaction) and (ii)
three times the number of shares that the Company would need to issue to raise sufficient
proceeds to pay (assuming a price per share equal to the average trading price of the shares
over the 10-Trading Day period preceding such date) (x) any then outstanding deferred
interest on the JSNs plus (y) twelve additional months of deferred interest on the JSNs. If
the Trust issues additional Trust Preferred Securities after the Time of Delivery (as
defined in the Amended Declaration) pursuant to the last sentence of Section 2.4 of the
Amended Declaration, the number of shares referred to under clause (i) above will be
increased proportionately to the number of such additional Trust Preferred Securities.

     (b) Amendment to Shares Available for Issuance Provisions. (i) The Company
may modify the definition of Shares Available for Issuance and the related provisions hereof
without the consent of holders of the Trust Preferred Securities or JSNs; provided that (i)
the Company has determined, in its reasonable discretion, that such modification is not
materially adverse to such holders, (ii) the rating agencies then rating the Trust Preferred
Securities confirm the then current ratings of the Trust Preferred Securities, and (iii) the
number of Shares Available for Issuance after giving effect to such modification will not
fall below the then applicable threshold set forth in Section 2.11(a).

     (ii) If the Company has amended the definition of Qualifying APM Securities to
eliminate Common Stock pursuant to Section 8.2, then (i) the number of shares
referred to in clause (i) of Section 2.11(a) will be increased by 100% and (ii) the
Company will be required to use commercially reasonable efforts, subject to the
Common Equity Issuance Cap, to set the terms of the Qualifying Warrants so as to
raise sufficient proceeds from their issuance to pay all deferred interest on the
JSNs in accordance with Section 2.7.

 Supplemental Indenture

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     Section 2.12. Limitation on Claims in the Event of Bankruptcy, Insolvency or Receivership

     Each Holder, by such Holder’s acceptance of the JSNs, agrees that if a Bankruptcy Event of the
Company shall occur before the redemption or repayment of such JSNs, such Holder shall have no
claim for, and thus no right to receive, any deferred interest pursuant to Section 2.5 that has not
been paid pursuant to Sections 2.5 and 2.7 to the extent the amount of such interest exceeds the
sum of (x) two years of accumulated and unpaid interest on such Holder’s JSNs and (y) an amount
equal to such Holder’s pro rata
share of the excess, if any, of the Preferred Stock Issuance Cap over the aggregate amount of
net proceeds from the sale of Qualifying Preferred Stock that the Company has applied to pay such
deferred interest pursuant to the Alternative Payment Mechanism. Each Holder of JSNs shall be
deemed to agree that, to the extent the remaining claim exceeds the amount set forth in clause (x),
the amount it receives in respect of such excess shall not exceed the amount it would have received
if the claim for such excess ranked pari passu with the interests of the Holders, if any, of
Qualifying Preferred Stock.

     Section 2.13. Unconditional Right of Holders to Receive Principal, Premium and Interest;
Direct Action by Holders of Trust Preferred 

                           Securities.

     Section 508 of the Indenture will not apply to the JSNs.

     Notwithstanding any other provision in the Indenture, each Holder of the JSNs shall have the
right, which is absolute and unconditional, to receive payment of the principal of (and premium, if
any) and (subject to Section 307 of the Indenture) interest (including any Additional Interest) on
the JSNs on the Final Repayment Date (or, in the case of redemption or repayment, on the Redemption
Date or the Repayment Date, as the case may be) and to institute suit for the enforcement of any
such payment, and such right shall not be impaired without the consent of such Holder. So long as
any JSNs are held by or on behalf of the Trust, any holder of the Trust Preferred Securities issued
by the Trust shall have the right, upon (i) the breach by the Company of its obligations under
Section 2.2(a)(iv) to issue Qualifying Capital Securities or Section 2.7(a) to issue Qualifying APM
Securities or (ii) the occurrence of an Event of Default described in Section 2.9(a), to institute
a suit directly against the Company (a) in the case of (i) above, to enforce such obligations or
for such other remedies as may be available and (b) in the case of (ii) above, for enforcement of
payment to such Holder of principal of (premium, if any) and (subject to Section 307 of the
Indenture) interest (including any Additional Interest) on the JSNs having a principal amount equal
to the aggregate Liquidation Amount (as defined in the Amended Declaration) of such Trust Preferred
Securities.

ARTICLE III

Repayment of JSNs

     Section 3.1. Repayments

     The Company will, not less than 15 nor more than 10 days before each Repayment Date (unless a
shorter notice will be satisfactory to the Trustee), notify the Trustee of the principal amount of
JSNs to be repaid on such date pursuant to Section 2.2(a).

     Section 3.2. Selection of the JSNs to be Repaid

     If less than all the JSNs are to be repaid on any Repayment Date (unless the JSNs are issued
in the form of a Global Security or held by the Property Trustee), the particular JSNs to be repaid
will be selected not more than 60 days before such Repayment Date by the Trustee, from the
Outstanding JSNs not previously repaid or called for redemption, by lot or such other method as the
Trustee will deem fair and

 Supplemental Indenture

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appropriate and which may provide for the selection for redemption of a
portion of the principal amount of any JSNs; provided that the portion of the principal amount of
any JSNs not repaid will be in an authorized denomination (which will not be less than the minimum
authorized denomination).

     The Trustee will promptly notify the Company in writing of the JSNs selected for partial
repayment and the principal amount thereof to be repaid. For all purposes hereof, unless the
context otherwise requires, all provisions relating to the repayment of JSNs will relate, in the
case of any JSNs repaid or to be
repaid only in part, to the portion of the principal amount of such JSNs that has been or is
to be repaid. JSNs registered in the name of the Company, any Affiliate or any Subsidiary thereof
will not be included in the JSNs selected for repayment except to the extent no other JSNs remain
or would remain outstanding.

     Section 3.3. Notice of Repayment

     Notice of repayment will be given by first-class mail, postage prepaid, mailed not later than
the 10th, and not earlier than the 15th, day before the Repayment Date, to
each Holder of JSNs to be repaid, at the address of such Holder as it appears in the Security
Register.

     Each notice of repayment will identify the JSNs to be repaid (including CUSIP number, if a
CUSIP number has been assigned to the JSNs) and will state:

     (a) the Repayment Date;

     (b) if less than all Outstanding JSNs are to be repaid, the identification (and, in the
case of partial repayment, the respective principal amounts) of the particular JSNs to be
repaid;

     (c) that on the Repayment Date, the principal amount of the JSNs to be repaid will
become due and payable upon each such JSNs or portion thereof, and that interest thereon, if
any, will cease to accrue on and after said date;

     (d) whether any deferred interest shall remain outstanding on any JSNs to be repaid,
and if so, the amount of such deferred interest and that Additional Interest shall continue
to accrue on and after said date until paid; and

     (e) the place or places where such JSNs are to be surrendered for payment of the
principal amount thereof.

     Notice of repayment will be given by the Company or, at the Company’s request, by the Trustee
in the name and at the expense of the Company and will be irrevocable. The notice if mailed in the
manner herein provided will be conclusively presumed to have been duly given, whether or not the
Holder receives such notice. In any case, a failure to give such notice by mail or any defect in
the notice to the Holder of any JSNs designated for repayment as a whole or in part will not affect
the validity of the proceedings for the repayment of any other JSNs.

     Section 3.4. Deposit of Repayment Amount

     Before 10:00 a.m., New York City time, on the Repayment Date specified in the notice of
repayment given as provided in Section 3.3, the Company will deposit with the Trustee or with one
or more Paying Agents (or if the Company is acting as its own Paying Agent, the Company will
segregate and hold in trust as provided in Section 1003 of the Indenture) an amount of money
sufficient to pay the principal amount of, and any accrued interest on, all the JSNs that are to be
repaid on that date.

 Supplemental Indenture

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     Section 3.5. Repayment of JSNs

     If any notice of repayment has been given as provided in Section 3.3, the JSNs or portion of
the JSNs with respect to which such notice has been given will become due and payable on the date
and at the place or places stated in such notice. On presentation and surrender of such JSNs at a
Place of Payment in said notice specified, the said securities or the specified portions thereof
will be paid by the Company at
their principal amount, together with accrued interest to the Repayment Date; provided that,
except in the case of a repayment in full of all Outstanding JSNs, installments of interest whose
Stated Maturity is on or before the Repayment Date will be payable to the Holders of such JSNs, or
one or more Predecessor Securities, registered as such at the close of business on the relevant
Regular Record Dates according to their terms and the provisions of Section 307 of the Indenture.

     Upon presentation of any JSNs repaid in part only, the Company will execute and the Trustee
will authenticate and make available for delivery to the Holder thereof, at the expense of the
Company, new JSNs, of authorized denominations, in aggregate principal amount equal to the portion
of the JSNs not repaid and so presented and having the same Scheduled Maturity Date and other terms
as such JSNs. If a Global Security is so surrendered, such new JSNs will also be a new Global
Security.

     If any JSNs required to be repaid will not be so repaid upon surrender thereof, the principal
of such JSNs will, until paid, bear interest from the applicable Repayment Date at the rate
prescribed therefore in the JSNs.

ARTICLE IV

Form of JSNs

     Section 4.1. Form of JSNs

     The JSNs are to be substantially in the following form and include the Trustee’s certificate
of authentication in the form required by Section 202 of the Indenture:

			
	 	 	 
	No.	 	 
	Issue Date:
	 	Principal Amount: $     

Regions Financial Corporation

6.625% Junior Subordinated Notes

          REGIONS FINANCIAL CORPORATION, a corporation organized and existing under the laws of Delaware
(hereinafter called the “Company”, which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay to      
        , or registered assigns, the principal sum of      ($      ) and all accrued and unpaid interest thereof on
May 1, 2077, or if such day is not a Business Day, the following Business Day (the “Final Repayment
Date”).

          The Company further promises to pay interest on said principal sum from and including April
27, 2007, or from and including the most recent Interest Payment Date on which interest has been
paid or duly provided for, (i) at the annual rate of 6.625%, from and including April 27, 2007 to
but
 

Supplemental Indenture

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excluding May 15, 2027, (ii) at an annual rate equal to three-month LIBOR plus 1.29%, from and
including May 15, 2027 to but excluding May 15, 2047, and (iii) at an annual rate equal to
one-month LIBOR plus 2.29% thereafter, until the principal thereof is paid or made available for
payment. Interest shall be payable (i) semi-annually in arrears on May 15 and November 15 of each
year, beginning on November 15, 2007 until May 15, 2027, (ii) quarterly in arrears on February 15,
May 15, August 15 and November 15 of each year, beginning on August 15, 2027 until May 15, 2047,
and (iii) thereafter monthly in arrears on the 15th
day of each month, beginning on June 15, 2047, or in the case of clause (ii) or (iii) if any
such day is not a Business Day, on the next Business Day (each such date, an “Interest Payment
Date”). Interest shall be computed on the basis of (i) a 360-day year comprised of twelve 30-day
months with respect to any Interest Period ending on or prior to May 15, 2027 and (ii) a 360-day
year and the actual number of days elapsed with respect to any other Interest Period). Accrued
interest that is not paid on the applicable Interest Payment Date (after giving effect to the
adjustments described in the last sentence of Section 2.4(b) of the Indenture), including interest
deferred pursuant to Section 2.5 of the Supplemental Indenture, will bear Additional Interest, to
the extent permitted by law, at the then-applicable rate described in the second sentence of this
paragraph, from the relevant Interest Payment Date, compounded on each subsequent Interest Payment
Date. In the event any Interest Payment Date on or prior to the regularly scheduled Interest
Payment Date in May 2027 occurs on a day that is not a Business Day, then a payment of the interest
payable on such date will be made on the next succeeding day that is a Business Day (without any
interest or other payment in respect of any such delay) with the same force and effect as if made
on the date the payment was originally payable. A “Business Day” will mean any day other than a
Saturday, Sunday or other day on which banking institutions in New York, New York, Birmingham,
Alabama or Wilmington, Delaware are authorized or required by law or executive order to remain
closed, or on or after May 15, 2027, a day that is not also a London Banking Day. The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at 5:00 p.m., New York City time, on the Regular Record
Date for such interest installment, which will be the date that is the last day of the month
immediately preceding the month in which such Interest Payment Date falls (whether or not a
Business Day). Any such interest installment not so punctually paid or duly provided for (other
than interest deferred in accordance with the next paragraph) will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof will be given to Holders of Securities of this series not less than 10 days before such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

          So long as no Event of Default has occurred and is continuing, the Company has the right at
any time or from time to time during the term of this Security to defer payment of interest on this
Security for one or more consecutive Interest Periods up to 10 years; provided, however, that no
Deferral Period will extend beyond the Final Repayment Date or the earlier redemption of any
Securities of this series. Upon the termination of any Deferral Period and upon the payment of all
deferred interest then due, the Company may elect to begin a new Deferral Period, subject to the
above requirements. Except as provided in Section 2.7 of the Supplemental Indenture, no interest
will be due and payable during a Deferral Period except at the end thereof.

          So long as any Securities remain outstanding, if the Company has given notice of its election
to defer interest payments on the Securities but the related Deferral Period has not yet commenced
or a Deferral Period is continuing, the Company will not, and will not permit any Subsidiary of the
Company to, (i) declare or pay any dividends or distributions, or redeem, purchase, acquire or make
a

Supplemental Indenture

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liquidation payment with respect to any shares of the Company’s capital stock, (ii) make any
payment of principal of or interest or premium, if any, on or repay, purchase or redeem any debt
securities or guarantees of the Company that rank upon the Company’s liquidation on a parity with
this Security (including this Security, the “Parity Securities”), or junior in interest to this
Security (except for partial payments of interest with respect to the Security) or (iii) make any
payments under any guarantee by the Company that ranks junior to the Guarantee Agreement (other
than (a) any purchase, redemption or other acquisition of
shares of the Company’s capital stock in connection with (1) any employment contract, benefit
plan or other similar arrangement with or for the benefit of any one or more of its employees,
officers, directors or consultants, (2) a dividend reinvestment or stockholder purchase plan, (3)
transactions effected by or for the account of customers of the Company or any of its affiliates or
in connection with the distribution, trading or market-making in respect of the Trust Preferred
Securities or (4) the issuance of the Company’s capital stock, or securities convertible into or
exercisable for such capital stock, as consideration in an acquisition transaction entered into
before the applicable Deferral Period; (b) any exchange or conversion of any class or series of the
Company’s capital stock, or the capital stock of one of its subsidiaries, for any other class or
series of the Company’s capital stock, or any class or series of the Company’s indebtedness for any
class or series of its capital stock; (c) any purchase of fractional interests in shares of the
Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or
the securities being converted or exchanged; (d) any declaration of a dividend in connection with
any rights plan, or the issuance of rights, stock or other property under any rights plan, or the
redemption or purchase of rights pursuant thereto; (e) any dividend in the form of stock, warrants,
options or other rights where the dividend stock or stock issuable upon exercise of such warrants,
options or other rights is the same stock as that on which the dividend is being paid or ranks
equally with or junior to such stock); (f) any payment of current or deferred interest on Parity
Securities that is made pro rata to the amounts due on such Parity Securities, provided that such
payments are made in accordance with Section 2.7(c) of the Supplemental Indenture to the extent it
applies, and any payments of deferred interest on Parity Securities that, if not made, would cause
the Company to breach the terms of the instrument governing such Parity Securities; or (g) any
payment of principal in respect of Parity Securities having the same scheduled maturity date as
this Security, as required under a provision of such Parity Securities that is substantially the
same as the provision described in Section 2.2 of the Supplemental Indenture, and that is made on a
pro rata basis among one or more series of Parity Securities having such a provision). In
addition, if any Deferral Period lasts longer than one year, the Company will not repurchase or
acquire any securities ranking pari passu with or junior to any of its Qualifying APM Securities
the proceeds of which were used to settle deferred interest during the relevant Deferral Period
before the first anniversary of the date on which all deferred interest on this Security has been
paid before the first anniversary of the date on which all deferred interest on this Security has
been paid, subject to the exceptions listed above.

          The Company will give written notice of its election to begin or extend any Deferral Period,
(x) if the Property Trustee, on behalf of the Trust, is the sole holder of the Securities, to the
Property Trustee and the Delaware Trustee at least five Business Days before the earlier of (A) the
next succeeding date on which the distributions on the Trust Preferred Securities are payable and
(B) the date the Property Trustee is required to give notice to holders of the Trust Preferred
Securities of the record or payment date for the related distribution, or (y) if the Property
Trustee, on behalf of the Trust, is not the sole Holder of the Securities, to Holders of the
Securities and the Trustee at least five Business Days before the next Interest Payment Date.

          Payment of the principal of and interest on this Security will be made at the office or agency
of the Company maintained for that purpose in the United States, in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that at the option of the Company payment of interest may be made
(i) by check mailed to the address of the Person entitled thereto as such address will appear in
the Securities Register or (ii) by

 Supplemental Indenture

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wire transfer in immediately available funds at the bank account
number as may be designated by the Person entitled thereto as specified in the Securities Register
in writing not less than ten days before the relevant Interest Payment Date.

     The indebtedness evidenced by this Security is, to the extent provided in the Indenture,
subordinate and junior in right of payment to the prior payment in full of all Senior Debt, and
this Security
is issued subject to the provisions of the Indenture with respect thereto. Each Holder of
this Security, by accepting the same, (a) agrees to and will be bound by such provisions, (b)
authorizes and directs the Trustee on his behalf to take such actions as may be necessary or
appropriate to effectuate the subordination so provided and (c) appoints the Trustee his
attorney-in-fact for any and all such purposes. Each Holder hereof, by his acceptance hereof,
waives all notice of the acceptance of the subordination provisions contained herein and in the
Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and
waives reliance by each such holder upon said provisions.

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions will for all purposes have the same effect as if set forth at this
place.

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security will not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

     In Witness Whereof, the Company has caused this instrument to be
duly executed.

	 	 	 	 	 
	 	Regions Financial Corporation

 	 
	 	By:  	 	 
	 	 	PRESIDENT OR VICE PRESIDENT 	 
	 	 	 	 
	 

Attest:

SECRETARY OR ASSISTANT SECRETARY

(FORM OF REVERSE OF JSNs)

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under the Indenture for
subordinated debt securities, dated as of May 15, 2002 (herein called the “Base Indenture”),
between the Company and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), as
amended and supplemented by the Second Supplemental Indenture, dated as of April 27, 2007, between
the Company and the Trustee (the “Supplemental Indenture” and, together with the Base Indenture,
the “Indenture”), to which Indenture and all other indentures supplemental thereto reference is
hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Trustee, the Company and the Holders of the Securities, and of the terms upon
which the Securities are, and are to be, authenticated and delivered. By the terms of the
Indenture, the Securities are issuable in series that may vary as to amount, date of maturity, rate
of interest, rank and in any other respect provided in the Indenture.

     All terms used in this Security that are defined in the Indenture or in the Amended and
Restated Declaration of Trust, dated as of April 27, 2007, as amended (the “Amended Declaration”),
for Regions Financing Trust II among Regions Financial Corporation, as Depositor, Deutsche Bank
Trust Company

 Supplemental Indenture

-26-

 

Americas, as the Property Trustee, Deutsche Bank Trust Company Delaware, as the
Delaware Trustee, and the Administrative Trustees, will have the meanings assigned to them in the
Indenture or the Amended Declaration, as the case may be.

     This Security shall be redeemable, at the option of the Company in accordance with the terms
of the Indenture, at any time, including on or after the Scheduled Maturity Date. The Redemption
Price of this
Security shall be 100% of the principal amount of this Security to be redeemed, plus accrued
and unpaid interest through the Redemption Date, in the case of any redemption (i) in whole or in
part on May 15, 2027 (or if such day is not a Business Day, the next Business Day), (ii) in whole
but not in part at any time in connection with a Capital Treatment Event or an Investment Company
Event, (iii) in whole but not in part after May 15, 2027 in connection with a Tax Event, and (iv)
in whole or in part at any time on or after May 15, 2047, including on or after the Scheduled
Maturity Date. In all other cases, the Redemption Price of each Security redeemed shall equal the
applicable Make-Whole Redemption Price. Securities of this series shall be subject to partial
redemption only in the amount of $1,000 or integral multiples thereof.

     No sinking fund is provided for the Securities.

     The Indenture contains provisions for satisfaction and discharge of the entire indebtedness of
this Security upon compliance by the Company with certain conditions set forth in the Indenture.

     The Indenture permits, with certain exceptions as therein provided, the Company and the
Trustee at any time to enter into a supplemental indenture or indentures for the purpose of
modifying in any manner the rights and obligations of the Company and of the Holders of the
Securities, with the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities to be affected by such supplemental indenture. The Indenture also contains
provisions permitting Holders of specified percentages in principal amount of the Securities at the
time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security will be conclusive and
binding upon such Holder and upon all future Holders of this Security and of any Security issued
upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.

     As provided in and subject to the provisions of the Indenture, if an Event of Default (other
than an Event of Default specified in clause (ii) or (iii) of Section 2.9(a) of the Supplemental
Indenture) with respect to the Securities at the time Outstanding occurs and is continuing, then
and in every such case the Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities may declare the entire principal amount and all accrued but unpaid interest
of all the Securities to be due and payable immediately, by a notice in writing to the Company (and
to the Trustee if given by Holders); provided that, in the case of the Securities issued to and
held by Regions Financing Trust II, or any trustee thereof or agent therefor, if upon an Event of
Default, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding
Securities fails to declare the entire principal and all accrued but unpaid interest of all the
Securities to be immediately due and payable, the holders of at least 25% in aggregate Liquidation
Amount of the Trust Preferred Securities then outstanding shall have such right by a notice in
writing to the Company and the Trustee; and upon any such declaration the principal amount of and
the accrued but unpaid interest (including any Additional Interest); and on all the Securities will
become immediately due and payable; provided that the payment of principal and interest (including
any Additional Interest) on such Securities will remain subordinated to the extent provided in
Article XVII of the Base Indenture.

     So long as any Securities are held by or on behalf of Regions Financing Trust II, any holder
of the Trust Preferred Securities issued by the Regions Financing Trust II shall have the right,
upon (i) the breach

 Supplemental Indenture

-27-

 

by the Company of its obligations under Section 2.2(a)(iv) of the Supplemental
Indenture to issue Qualifying Capital Securities or Section 2.7(a) of the Supplemental Indenture to
issue Qualifying APM Securities or (ii) the occurrence of an Event of Default described in Section
2.9(a) of the Supplemental Indenture, to institute a suit directly against the Company (a) in the
case of (i) above, to enforce such obligations or for such other remedies as may be available and
(b) in the case of (ii) above, for enforcement of payment to such holder of principal of (premium,
if any) and (subject to Section 307 of the Base
Indenture) interest (including any Additional Interest) on the Securities having a principal
amount equal to the aggregate Liquidation Amount (as defined in the Amended Declaration) of such
Trust Preferred Securities.

     The Holder of this Security, by such Holder’s acceptance hereof, agrees that if a Bankruptcy
Event of the Company shall occur before the redemption or repayment of such Security, such Holder
shall have no claim for, and thus no right to receive, any deferred interest pursuant to Section
2.5 of the Supplemental Indenture that has not been paid pursuant to Sections 2.5 and 2.7 of the
Supplemental Indenture to the extent the amount of such interest exceeds the sum of (x) two years
of accumulated and unpaid interest on this Security and (y) an amount equal to such Holder’s pro
rata share of the excess, if any, of the Preferred Stock Issuance Cap over the aggregate amount of
net proceeds from the sale of Qualifying Preferred Stock that the Company has applied to pay such
deferred interest pursuant to the Alternative Payment Mechanism; provided that such Holder shall be
deemed to agree that, to the extent the remaining claim exceeds the amount set forth in clause (x),
the amount it receives in respect of such excess shall not exceed the amount it would have received
if the claim for such excess ranked pari passu with the interests of the Holders, if any, of
Qualifying Preferred Stock.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
will alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable in the Securities Register, upon surrender of this
Security for registration of transfer at the office or agency of the Company maintained under
Section 1002 of the Base Indenture duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Securities Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities,
of authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees. No service charge will be made for any such registration of
transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

     Before due presentment of this Security for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee will treat the Person in whose name this Security is
registered as the owner hereof for all purposes, whether or not this Security be overdue, and
neither the Company, the Trustee nor any such agent will be affected by notice to the contrary.

     The Securities are issuable only in registered form without coupons in minimum denominations
of $1,000 and integral multiples thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Securities are exchangeable for a like aggregate principal amount of
Securities of a different authorized denomination, as requested by the Holder surrendering the
same.

     The Company and, by its acceptance of this Security or a beneficial interest therein, the
Holder of, and any Person that acquires a beneficial interest in, this Security agree to treat for
United States Federal income tax purposes (i) the Securities as indebtedness of the Company, and
(ii) the stated interest on the

 Supplemental Indenture

-28-

 

Securities as ordinary interest income that is includible in the
Holder’s or beneficial owner’s gross income at the time the interest is paid or accrued in
accordance with the Holder’s or beneficial owner’s regular method of tax accounting, and otherwise
to treat the Securities as described in the Prospectus.

     The Indenture and this Security will be governed by and construed in accordance with the laws
of the State of New York.

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned assigns and transfers this Security to:

 

 

 

(Insert assignee’s social security or tax identification number)

 

 

 

(Insert address and zip code of assignee)

agent to transfer this Security on the books of the Securities Registrar. The agent may substitute
another to act for him or her.

	 	 	 
	Dated:

	 	Signature:
	 
	 	 
	 

	 	Signature Guarantee:

(Sign exactly as your name appears on the other side of this Security)

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of
the Securities Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be
determined by the Securities Registrar in addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as amended.

ARTICLE V

Original Issue of JSNs

     Section 5.1. Original Issue of JSNs

     JSNs in the aggregate principal amount of $700,010,000 may, upon execution of this
Supplemental Indenture, be executed by the Company and delivered to the Trustee or an
Authenticating Agent for authentication, and the Trustee or an Authenticating Agent will thereupon
authenticate and deliver said JSNs in accordance with a Company Order. Subject to the maximum
aggregate principal amount of JSNs specified in Section 2.1, from time to time after the execution
of this Supplemental Indenture, additional

 Supplemental Indenture

-29-

 

JSNs having the same terms (provided that such JSNs, if
issued on or after the first Interest Payment Date, shall bear interest from the most recent
Interest Payment Date) may be executed by the Company and delivered to the Trustee or an
Authenticating Agent for authentication, and the Trustee or an Authenticating Agent will thereupon
authenticate and deliver said JSNs in accordance with a Company Order. Any such JSNs shall become
part of the same series as the JSNs originally issued hereunder.

     Section 5.2. Calculation of Original Issue Discount

     If during any calendar year any original issue discount shall have accrued on the JSNs, the
Company will file with each Paying Agent (including the Trustee if it is a Paying Agent) promptly
at the end of each calendar year (i) a written notice specifying the amount of original issue
discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the
end of such year and (ii) such other specific information relating to such original issue discount
as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time.
Neither the Company nor the Trust would make actual payments on the JSNs, or on the Trust Preferred
Securities, as the case may be, during a Deferral Period.

ARTICLE VI

Subordination

     Section 6.1. Senior Debt

     The subordination provisions of Article XVII of the Indenture will apply to the JSNs, except
that for the purposes of the JSNs (but not for the purposes of any other Securities unless
specifically set forth in the terms of such Securities):

     (a) the definition of “Senior Debt” in the Indenture is hereby amended to replace the
proviso in its entirety with the following:

“provided, however, that, in any event, Senior Debt shall not include (1) the Guarantee
Agreement, (2) any indebtedness or guarantee that is by its terms subordinated to, or ranks
equally with, the JSNs and the issuance of which does not at the time of issuance prevent
the JSNs from qualifying for treatment of the amount equal to the liquidation amount of the
JSNs as “Tier 1 Capital” (irrespective of any limits on the amount of the “Tier 1 Capital”
of the Company) under the applicable capital adequacy guidelines, rules, regulations,
policies or published interpretations of the Federal Reserve; and (3) trade accounts payable
and other accrued liabilities arising in the ordinary course of business.”

     (b) Notwithstanding the foregoing or any other provision of the Indenture or of this
Supplemental Indenture, provided that the Company is not subject to a bankruptcy,
insolvency, liquidation or similar proceeding, the priority of the JSNs in right of payment
as to Parity Securities is subject to the provisions of Section 2.6 and the Company will be
permitted to pay interest or principal on Parity Securities in accordance with Section 2.6.

     Section 6.2. Compliance with Federal Reserve Rules

     The Company will not incur any additional indebtedness for borrowed money that ranks pari
passu with or junior to the JSNs (if then subject to Article XVII of the Indenture), except in
compliance with applicable regulations and guidelines of the Federal Reserve.

 Supplemental Indenture

-30-

 

ARTICLE VII

Miscellaneous

     Section 7.1. Effectiveness

     This Supplemental Indenture will become effective upon its execution and delivery.

     Section 7.2. Modification of Supplemental Indenture

     Without the consent of any Holders of the JSNs, the Company, when authorized by a Board
Resolution, and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, to eliminate Common Stock or
Qualifying Warrants (but not both) from the definition of “Qualifying APM Securities” if the
Company has been advised in writing by a nationally recognized independent accounting firm that
there is more than an insubstantial risk that the failure to do so would result in a reduction in
its earnings per share as calculated for financial reporting purposes.

     Notwithstanding any other provision in the Indenture or this Supplemental Indenture to the
contrary, the Company and the Trustee, without the consent of any holder of JSNs, may enter into a
supplemental indenture for the purpose of conforming the terms of the Indenture and/or this
Supplemental Indenture and the JSNs to the description of the JSNs contained in the Prospectus
Supplement.

     Section 7.3. Miscellaneous

     The Company will promptly give notice to Holders, in the manner provided for in the Indenture,
of (i) any extension of the Scheduled Maturity Date pursuant to Section 2.2(a) and (ii) any
amendment to the definition of “Qualifying APM Securities” eliminating Common Stock or Qualifying
Warrants pursuant to Section 8.2.

     Section 7.4. Successors and Assigns

     All covenants and agreements in the Indenture, as supplemented and amended by this
Supplemental Indenture, by the Company will bind its successors and assigns, whether so expressed
or not.

     Section 7.5. Further Assurances

     The Company will, at its own cost and expense, execute and deliver any documents or
agreements, and take any other actions that the Trustee or its counsel may from time to time
request in order to assure the Trustee of the benefits of the rights granted to the Trustee under
the Indenture, as supplemented and amended by this Supplemental Indenture.

     Section 7.6. Effect of Recitals

     The recitals contained herein and in the JSNs, except the Trustee’s certificates of
authentication, will be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Supplemental Indenture or of the JSNs.
Neither the Trustee nor any Authenticating Agent will be accountable for the use or application by
the Company of the JSNs or the proceeds thereof.

 Supplemental Indenture

-31-

 

     Section 7.7. Ratification of Indenture

     The Indenture as supplemented by this Supplemental Indenture, is in all respects ratified and
confirmed, and this Supplemental Indenture will be deemed part of the Indenture in the manner and
to the extent herein and therein provided.

     Section 7.8. Governing Law

     This Supplemental Indenture and the JSNs will be governed by and construed in accordance with
the laws of the State of New York.

* * * *

     This instrument may be executed in any number of counterparts, each of which so executed will
be deemed to be an original, but all such counterparts will together constitute but one and the
same instrument.

 Supplemental Indenture

-32-

 

     In Witness Whereof, the parties hereto have caused this Second
Supplemental Indenture to be duly executed as of the day and year first above written.

	 	 	 	 	 
	 	Regions Financial Corporation

 	 
	 	By: 	/s/ Eric J. Haas	 
	 	 	Name:  Eric J. Haas	 	 
	 	 	Title:  Executive Vice President
& Treasurer	 	 
	 

Attest:

	 	 	 	 	 
	 	 	 
	 	By: 	/s/ Carl L. Gorday	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	Deutsche Bank National Trust Company

for Deutsche Bank Trust Company Americas,

        as Trustee

 	 
	 	By:  	/s/ Yana Kalachikova	 
	 	 	Name:  Yana Kalachikova	 	 
	 	 	Title:  Assistant Vice President	 	 
	 
	 	 	 
	 	By:  	/s/ Irina
Golovashchuk	 
	 	 	Name:  Irina
Golovashchuk	 	 
	 	 	Title:  Assistant Vice
President	 	 
	 

Supplemental IndentureEX-4.2 AMENDMENT NO. 1 TO THE DECLARATION OF TRUST

 

EXHIBIT 4.2

AMENDMENT NO. 1

TO THE

DECLARATION OF TRUST

OF

REGIONS FINANCING TRUST II

     This Amendment No. 1 to the Declaration of Trust of Regions Financing Trust II (the “Trust”),
dated as of March 16, 2007 (this “Amendment”), is made and entered into among Regions Financing
Corporation, a Delaware corporation, as depositor (the “Depositor”), Deutsche Bank Trust Company
Americas, a New York banking corporation, and Deutsche Bank Trust Company Delaware, a Delaware
banking corporation, as trustees (the “Trustees”).

     W
I T N E S S E T H

     WHEREAS, the Trust is a Delaware statutory trust that was created under Chapter 38 of Title 12
of the Delaware Code, 12 Del. C. § 3801, et seq. (the “Act”) pursuant to
(i) the Declaration of Trust of the Trust, dated as of January 26, 2001 (the “Declaration”), and
(ii) the Certificate of Trust of the Trust, dated as of January 26, 2001, as filed with the office
of the Secretary of State of the State of Delaware (the “Secretary of State”) on January 26, 2001;
and

     WHEREAS, Bankers Trust Company and Bankers Trust (Delaware), the original trustees named in
the Declaration have changed their names to Deutsche Bank Trust Company Americas and Deutsch Bank
Trust Company Delaware, respectively.

     WHEREAS, the Depositor and the Trustees desire to amend the Declaration as set forth herein
pursuant to the Declaration.

     NOW, THEREFORE, in consideration of the mutual promises and obligations contained herein, the
parties hereto, intending to be legally bound, hereby agree as follows:

I. AMENDMENTS.

	 	A.	 	The first paragraph of the Declaration is hereby deleted in its
entirety and replaced with the following:
	 
	 	 	 	     “This Declaration of Trust, dated as of January 26, 2001 (this
“Declaration”), is entered into by and among Regions Financial Corporation,
a Delaware corporation, as depositor (the “Depositor”), Deutsche Bank Trust
Company Americas, a New York banking corporation, as trustee, and Deutsche
Bank Trust Company Delaware, a Delaware banking corporation, as trustee
(collectively, the “Trustees”). The Depositor and the Trustees hereby agree
as follows:”
	 
	 	B.	 	All references in the Declaration to the “Bankers Trust
Company” are hereby deleted and the “Deutsche Bank Trust Company Americas” is
hereby substituted in lieu thereof.

 

 

	 	C.	 	All references in the Declaration to the “Bankers Trust
(Delaware)” are hereby deleted and the “Deutsche Bank Trust Company Delaware”
is hereby substituted in lieu thereof.
	 
	 	D.	 	All references in the Declaration to “Business Trust Act” are
hereby deleted and “Statutory Trust Act” is hereby substituted in lieu thereof.
	 
	 	C.	 	All references in the Declaration to “business trust” are
hereby deleted and “statutory trust” is hereby substituted in lieu thereof.

II. MISCELLANEOUS.

     A. Successors and Assigns. This Amendment shall be binding upon, and shall enure to
the benefit of, the parties hereto and their respective successors and assigns.

     B. Full Force and Effect. Except to the extent modified hereby, the Declaration shall
remain in full force and effect.

     C. Counterparts. This Amendment may be executed in counterparts, all of which
together shall constitute one agreement binding on all parties hereto, notwithstanding that all
such parties are not signatories to the original or same counterpart.

     D. Governing Law. This Amendment shall be interpreted in accordance with the laws of
the State of Delaware (without regard to conflict of laws principles), all rights and remedies
being governed by such laws.

     E. Effectiveness of Amendment. This Amendment shall be effective immediately upon
execution.

     F. Capitalized Terms. Capitalized terms used herein and not otherwise defined are
used as defined in the Declaration.

[SIGNATURE PAGE FOLLOWS]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the day and year first above written.

	 	 	 	 	 
	 	REGIONS FINANCIAL CORPORATION, as 
Depositor

 	 
	 	By:  	/s/ Eric Haas
 	 
	 	 	Name:  	Eric Haas 	 
	 	 	Title:  	Executive Vice President 	 
	 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY 
AMERICAS, as Trustee

 	 
	 	By:  	/s/ Yana Kalachikova
 	 
	 	 	Name:  	Yana Kalachikova 	 
	 	 	Title:  	Assistant Vice President 	 
	 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY 
DELAWARE, as Trustee

 	 
	 	By:  	/s/ Elizabeth B. Ferry
 	 
	 	 	Name:  	Elizabeth B. Ferry 	 
	 	 	Title:  	Assistant Vice President

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