Document:

Exhibit 10.76

 Exhibit 10.76 
 SUNTRUST 
  

			
	 SunTrust Banks, Inc.
 TERMS AND CONDITIONS
 NONQUALIFIED STOCK OPTIONS (NQO)
 GRANT DATE: FEBRUARY 14, 2006
	  	

 SunTrust Banks, Inc. (“SunTrust”), a Georgia corporation, pursuant to action of the
Compensation Committee (“Committee”) of its Board of Directors and in accordance with the SunTrust Banks, Inc. 2004 Stock Plan (“Plan”), has granted a Nonqualified Stock Option (“NQO”) to purchase shares of SunTrust
Common Stock, $1.00 par value (“Stock”), upon the following terms as an incentive for Optionee to promote the interests of SunTrust and its Subsidiaries: 
  

			
	 Name of Optionee
	  	 Thomas M. Garrott

		
	 Number of Shares
	  	
	 Subject to Option
	  	 122,488

		
	 Fair Market Value Per Share
	  	 $71.03

	 On Grant Date
	  	
		
	 Grant Date
	  	 February 14, 2006

 This NQO evidences this Grant, which has been made subject to all the terms and conditions set
forth on the attached Terms and Conditions and in the Plan. 
  

	
	 SUNTRUST BANKS, INC.

	
	 /s/ JoAnne Rioli Moeller

	 Authorized Officer

 Terms and Conditions 
 NonQualified Stock Options (NQO) 
 § 1. DATE EXERCISABLE. This NQO granted on February 14, 2006,
if it has not expired as provided in § 2, shall become exercisable the earliest of the following dates: 
 (a) on the 3rd Anniversary of the Grant Date, provided the Optionee is an active employee of SunTrust or a Subsidiary on that date; or

 (b) on the date the Optionee’s employment with SunTrust or a Subsidiary terminates by reason of death or disability (as defined in
§ 22(e)(3) of the Code); or 
 (c) on the date the Optionee retires at age 55 or later in accordance with the SunTrust Retirement Plan;
or 
 (d) on the date the Optionee’s employment with SunTrust or a Subsidiary is involuntarily terminated by reason of a reduction in
force, which results in a severance benefit payment to the Optionee pursuant to the terms of the SunTrust Banks, Inc. Severance Pay Plan or any successor to the plan, then only a pro rata number of shares subject to the NQO shall become exercisable
based on the Optionee’s service completed from the Grant Date through the date of such termination of employment and shall remain exercisable for the period described in § 2(b) of this Option Agreement; or 
 (e) on the date that the following occurs: (i) there is a Change in Control of SunTrust, (ii) such Optionee’s employment with SunTrust or
any Subsidiary terminates (other than by reason of a transfer between or among SunTrust and any Subsidiary) at any time before the third anniversary of the date of such Change in Control, and (iii) such termination of the Optionee’s
employment is either (a) involuntary on the part of the Optionee and does not result from his or her death or disability (as defined in Code §22(e) (3)) and does not constitute a Termination for Cause, or (b) voluntary on the
part of the Optionee and constitutes a Termination for Good Reason. 
 § 2. EXPIRATION. This NQO shall expire and cease to be
exercisable at the first of the following to occur: 
 (a) for any part of the NQO that is not then exercisable, the end of the day on which
the Optionee’s employment with SunTrust or a Subsidiary terminates for any reason other than for the reasons described in § 2(c), 2(d) or 2(e) of this Option Agreement; 
 (b) for any part of the NQO that is then exercisable, the end of the three-month period which begins on the date the Optionee’s employment by SunTrust or a Subsidiary terminates for any
reason other than for the reasons described in § 2(c), 2(d) or 2(e) of this Option Agreement; 
 (c) the end of the day immediately
before the date on which an Optionee’s employment by SunTrust or a Subsidiary terminates (or might have been terminated) as a result of conduct which the Committee determines either might have violated any applicable civil or criminal law or
did violate the SunTrust Code of Conduct for employees of SunTrust or such Subsidiary or the Supplemental Code of Conduct for officers of SunTrust or such Subsidiary; 
 (d) the end of the five-year period which begins on the date the Optionee’s employment with SunTrust or a Subsidiary terminates by reason of the Optionee’s retirement at age 55 or later under the
SunTrust Retirement Plan; 
 (e) the end of the one-year period which begins on the date the Optionee’s employment with SunTrust or a
Subsidiary terminates by reason of death or disability (as defined in § 22(e)(3) of the Code); 
 (f) the date this NQO has been
exercised in full under this Option Agreement; or 
 (g) the end of the last day in the 10-year period which begins on the Option Grant Date.

 § 3. METHOD OF EXERCISE. This NQO shall be exercised by properly completing and delivering the applicable form to SunTrust or its
specified delegate, together with the appropriate payment in full for the Stock the Optionee desires to purchase through such exercise. Payment may be made in the form of a check made payable to SunTrust or written confirmation of ownership of
sufficient shares of previously acquired SunTrust stock or any combination of such payment methods as has been approved by the Compensation Committee. Such exercise shall be effective on the date such form and payment actually are delivered to
SunTrust Executive Compensation, SunTrust Banks, Inc., 303 Peachtree Center Avenue, Suite 200, Atlanta, Georgia 30303 (or to such other location as SunTrust may specify); provided, if such form and payment are properly mailed to such person by
registered mail or by an overnight service at such address, the related exercise shall be treated as effective on the date accepted for delivery by an overnight mail service. Any previously acquired Stock which is designated as payment for Stock
shall be valued at its Fair Market Value on the date the exercise is effective or, if the exercise is effective on a date other than a business day, on the immediately preceding business day. 
 § 4. WITHHOLDING. The Committee shall have the right to reduce the number of shares of Stock actually transferred to the Optionee to satisfy the minimum applicable tax withholding
requirements, and the Optionee shall have the right (absent any such action by the Committee and subject to satisfying the requirements under Rule 16b-3) to elect that the minimum applicable tax withholding requirements be satisfied through a
reduction in the number of shares of Stock transferred to him. 
 § 5. NONTRANSFERABLE. No rights granted under this Option Agreement
shall be transferable by the Optionee other than by will or by the laws of descent and distribution. 
  

 2 

 § 6. EMPLOYMENT AND TERMINATION. Nothing in the Plan or this Option Agreement or any related
material shall give the Optionee the right to continue in employment by SunTrust or by a Subsidiary or adversely affect the right of SunTrust or a Subsidiary to terminate the Optionee’s employment with or without cause at any time. 

§ 7. SHAREHOLDER STATUS. The Optionee shall have no rights as a shareholder with respect to any shares of Stock under this Option Terms and
Conditions 
 Agreement until the Optionee has made payment in full for such shares and such shares have been duly issued and delivered to
the Optionee, and no adjustment shall be made for dividends of any kind or description whatsoever respecting such Stock except as expressly set forth in the Plan. 
 § 8. OTHER LAWS. SunTrust shall have the right to refuse to issue or transfer any Stock under this Option Agreement if SunTrust acting in its absolute discretion determines that the issuance or transfer of such
Stock might violate any applicable law or regulation, and any payment tendered in such event to exercise this option shall be promptly refunded to the Optionee. 
 § 9. SECURITIES REGISTRATION. The Optionee may be requested by SunTrust to hold any shares of Stock received upon the exercise of an option under this Option Agreement for personal investment and not for purposes
of resale or distribution to the public and the Optionee shall, if so requested by SunTrust, deliver a certified statement to that effect to SunTrust as a condition to the transfer of such Stock to the Optionee. 
 § 10. MISCELLANEOUS. 
 (a) A transfer
between SunTrust and a Subsidiary or between Subsidiaries shall not be deemed a termination of employment under this Option Agreement. 
 (b)
The Optionee’s rights under this Option Agreement can be canceled in accordance with the terms of the Plan. 
 (c) This Option Agreement
shall be subject to the provisions, definitions, terms and conditions set forth in the Plan, all of which are incorporated by this reference in this Option Agreement. 
 (d) The Plan and this Option Agreement shall be governed by the laws of the State of Georgia. 
 § 11.
DEFINITIONS: 
 CHANGE IN CONTROL - means a “Change in Control” of SunTrust of a nature that would be required to be reported in
response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities and Exchange Act of 1934, as amended and in effect at the time of such “Change in Control” (the “Exchange Act”), provided that such a
Change in Control shall be deemed to have occurred at such time as (i) any “person” (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), is or becomes the beneficial owner (as defined in Rule 13(d)-3 under the
Exchange Act) directly or indirectly, of securities representing 20% or more of the combined voting power for election of directors of the then outstanding securities of SunTrust; (ii) during any period of two consecutive years or less,
individuals who at the beginning of such period constitute the Board cease, for any reason, to constitute a majority of the Board, unless the election or nomination for election of each new director was approved by a vote of at least two-thirds of
the directors then still in office who were directors at the beginning of the period; (iii) the shareholders of SunTrust approve any merger, consolidation, or share exchange as a result of which the common stock of SunTrust shall be changed,
converted or exchanged (other than a merger with a wholly-owned subsidiary of SunTrust), or any dissolution or liquidation of SunTrust or any sale or the disposition of 50% or more of the assets or business of SunTrust; or (iv) the shareholders
of SunTrust approve any merger or consolidation to which SunTrust is a party or a share exchange in which SunTrust shall exchange its shares for shares of another corporation as a result of which the persons who were shareholders of SunTrust
immediately prior to the effective date of the merger, consolidation or share exchange shall have beneficial ownership of less than 50% of the combined voting power for election of directors of the surviving corporation following the effective date
of such merger, consolidation or share exchange; provided, however, and notwithstanding the occurrence of any of the events previously described in this definition, that no “Change in Control” shall be deemed to have occurred under this
definition if, prior to such time as a “Change in Control” would otherwise be deemed to have occurred under this definition, the Board determines otherwise. 
 TERMINATION FOR CAUSE - means a termination of employment which is made primarily because of (i) the “willful” and continued failure of the Optionee to perform satisfactorily the duties consistent with
such Optionee’s title and position reasonably required of him or her by the Board or supervising management (other than by reason of his or her incapacity due to a physical or mental illness) after a written demand for substantial performance
of such duties is delivered to such Optionee by the Board or supervising management, where such written demand shall specifically identify the manner in which the Board or supervising management believes such Optionee has failed to satisfactorily
perform his or her duties and where no act or failure to act shall be deemed “willful” under this definition unless done, or omitted to be done, not in good faith and without a reasonable belief that the act or omission was in the best
interests of SunTrust or any Subsidiary, (ii) the commission by the Optionee of a felony, or the perpetration by the Optionee of a dishonest act, misappropriation of funds, embezzlement, criminal conduct or common law fraud against SunTrust or
any Subsidiary, (iii) a serious violation of the SunTrust Code of Conduct policies and procedures, or (iv) any other willful act or omission which is materially injurious to the financial condition or business reputation of SunTrust or any
Subsidiary. 
  

 3 

 TERMINATION FOR GOOD REASON - means a termination made primarily because of (i) a failure to elect
or reelect or to appoint or to reappoint the Optionee to, or the removal of the Optionee from, the position which he or she held with SunTrust or any Subsidiary prior to the Change in Control, (ii) a substantial change by the Board or
supervising management in the Optionee’s functions, duties or responsibilities, which change would cause such Optionee’s position with SunTrust or any Subsidiary to become of less dignity, responsibility, importance or scope than the
position held by the Optionee prior to the Change in Control or (iii) a substantial reduction of the Optionee’s annual compensation from the level in effect prior to the Change in Control or from any level established thereafter with the
consent of such Optionee. 
  

 4Letter Agreement, dated March 30, 2006

 Exhibit 10.3 
 Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. The omissions have been indicated by asterisks (“*****”), and the omitted text has been
filed separately with the Securities and Exchange Commission. 
 Matthew J. Kelly 
 Chief Intellectual Property Counsel 
 312/930-3046 Telephone 
 312/930-3323 Facsimile 
 March 30, 2006 
 Robert
Shakotko 
 Managing Director 
 Standard & Poor’s Index Services 
 55 Water Street, 42nd Floor 
 New York, New York 10041 
 Re: First Amendment to the S&P-CME 2005 License Agreement 
 Dear Mr. Shakotko: 
 S&P and CME have agreed to amend our License Agreement to allow CME to list for trading BXY TRAKRS Contracts. This Letter Amendment embodies our agreement. Pursuant
to Section 2(e) of the License Agreement (“Agreement”) between the Chicago Mercantile Exchange (“CME”) and Standard & Poor’s (“S&P”), dated September 20, 2005, as amended, CME requests that
the Agreement be updated as specified below. 
 The Recitals of the Agreement shall be amended by adding the following text:

 WHEREAS, S&P has secured all necessary approvals and authorizations necessary from the Chicago Board of Options
Exchange (“CBOE”) and the CBOE Future Exchange (“CFE”) for CME to list, trade, clear, market and promote TRAKRS Contracts (“BXY TRAKRS Contracts”) based on the CBOE S&P 500 2% OTM BuyWrite Index (“the BXY
Index”). 
 Section 1 of the Agreement shall be amended by adding Section 1 (bb) and Section 1 (cc) at the end of the section which shall
read as follows: 
 (bb) “TRAKRS Contracts” means any cash-settled Futures Contract (i) the final settlement price of which is
calculated using the level of a broad-based, dynamic index of stocks, bonds, currencies, commodities or other financial instruments; (ii) that can be held by “non-institutional customers” through Broker Dealers and Registered
Representatives; (iii) for which the establishment of a short position by a non-institutional customer requires a cash deposit equal to 50% of the current market value of the short position and may require subsequent payments as determined by
the applicable Futures Market; (iv) for which the establishment of a long position by a non-institutional customer requires a cash deposit equal to 100% of the current market value of the long position and (v) having a term to expiration
date when Listed of *****, provided, however, that the expiration date may be extended up to seven trading days beyond the fifth year 

 Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. The omissions have been indicated by asterisks (“*****”), and the omitted text has been filed separately with the Securities and Exchange Commission. 
 BXY Amendment 
  Page
 2
 of 5 
  

 
anniversary of the List date. The terms “Broker Dealer”, “Registered Representative”, and “non-institutional customer” as used
herein have the respective meanings given to them in the CFTC no action letter of July 11, 2001 to the CME regarding TRAKRS. Futures Contracts that include all of the elements (i) through (iv) above shall be deemed to be TRAKRS
Contracts for the purposes of this Agreement. 
 (cc) “BXY TRAKRS Contracts” shall mean a TRAKRS Contracts based on the BXY index.

 Section 2(g) of the Agreement shall be amended by adding the following to the end of the section: 
 Notwithstanding the forgoing, S&P grants to CME a non-exclusive license, as further specified in Section 3(d), to the BXY index but only for use
in BXY TRAKRS Contracts. 
 Section 3 of the Agreement shall be amended by adding Section 3(d) as follows:

 (d) TRAKRS Contracts. The term of this amendment shall be five (5) years from the Effective Date. *****.

 Section 5(f) of the Agreement shall be amended to read as follows (current additions are indicated by underlines):

 (f) Mini Contracts. For each Indexed Contract (excluding S&P ETF Contracts and BXY TRAKRS Contracts),
regardless of the date when it was first listed, and with an initial Notional Value of less than or equal to $*****, CME shall pay S&P a per-Contract license fee equal to $*****. CME shall pay S&P $***** for each BXY TRAKRS Contract
traded, where such BXY TRAKRS Contract has an initial Notional Value of less than $***** when first listed . 
 Section 7(b) of the Agreement shall be amended to read as follows (current additions are indicated by underlines): 
 (b) Discontinuation of an S&P Stock Index. S&P or CBOE, as the case may be, shall have the right in its sole discretion to cease compilation and publication of any of the S&P Stock Indices without liability hereunder and,
upon prompt written notice to CME of such discontinuance and subject to Section 8 hereof, to terminate the license granted hereunder as to such discontinued S&P Stock Index and the associated S&P Marks or CBOE Marks; provided, however,
that S&P or CBOE, as the case may be, shall use its best efforts to give CME at least one (1) year prior written notice of such 

 Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. The omissions have been indicated by asterisks (“*****”), and the omitted text has been filed separately with the Securities and Exchange Commission. 
 BXY Amendment 
  Page
 3
 of 5 
  

 
discontinuation and further provided, however, that all Indexed Contracts that use the discontinued S&P Stock Index which are open and listed for trading
on the date of such notice of termination was provided to CME, may nevertheless continue to be traded until such Indexed Contracts either expire and are no longer listed for trading or until thirty-six (36) months following the date of such
notice of termination, whichever occurs first, except for BXY TRAKRS Contracts, which shall continue to trade until such BXY TRAKRS Contracts expire and are no longer listed for trading or until sixty (60) months following the date of such
notice of termination, whichever occurs first. CME’s obligations to make payment to S&P with respect to any Indexed Contract licensed pursuant to this Agreement and that use the discontinued Index shall terminate effective on the date
on which the license for the discontinued Index is effectively terminated by S&P. 
 Section 8(b) of the Agreement
shall be amended to read as follows (current additions are indicated by underlines): 
 (b) Discontinuation of Trademark
Licenses. If CME’s license to use any S&P Stock Index terminates because of the termination or expiration of this Agreement, or for any reason other than S&P’s or CBOE’s discontinuation of its compilation and publication,
then CME shall not use the name “Standard & Poor’s” or “S&P” or “CITIGROUP” in connection with the promotion or trading of any additional Indexed Contracts that use such S&P Stock Index; provided,
however, that Indexed Contracts that use such S&P Stock Index, which are listed for trading on the date of termination, may be traded using the relevant S&P Marks until expiration or for 36 months, whichever occurs first, except for the
BXY TRAKRS Contracts, which shall continue to trade until such BXY TRAKRS Contracts expire and are no longer listed for trading or for sixty (60) months, whichever occurs first. Following such termination, if CME elects to trade CME
Substitute Contracts on a CME Substitute Index, it may make information references only to such S&P Stock Index, provided that CME disclaims any relationship with S&P in connection therewith. The foregoing shall nevertheless depend on the
fact that S&P shall continue to compile and publish such S&P Stock Index in which event S&P shall disseminate such Index to CME in the same fashion as is currently being done, except that CME shall bear any incremental costs incurred by
S&P at any time in providing such service. 
 The first sentence of Section 9(b) of the Agreement shall be amended as follows (current additions are
indicated by underlines): 
 S&P or its agent shall compute and, in a manner reasonably satisfactory to CME, disseminate to CME the value
of each of the S&P Stock Indices at least once every fifteen seconds during normal trading hours, except for the BXY Index which shall be computed and disseminated on an end of trading day basis only. 

 Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. The omissions have been indicated by asterisks (“*****”), and the omitted text has been filed separately with the Securities and Exchange Commission. 
 BXY Amendment 
  Page
 4
 of 5 
  

 Appendix 1 of the Agreement shall be amended by the following: 
 19. CBOE S&P 500 BuyWrite Index (“BXY”) * 
 Note: CBOE, BuyWrite Index, and BXY are service marks of the Chicago Board Options Exchange and licensed to S&P for purposes of this Agreement 
 Appendix 2 of the Agreement shall be amended by the following: 
 33. CBOE S&P 500 BuyWrite Index (“BXY)* 
 Note: CBOE, BuyWrite Index, and BXY are service marks of the Chicago Board Option Exchange and licensed to S&P for purposes of this Agreement 
 Except as modified hereby, all of the terms and conditions of the Agreement shall remain in full force and effect. 

 Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. The omissions have been indicated by asterisks (“*****”), and the omitted text has been filed separately with the Securities and Exchange Commission. 
 BXY Amendment 
  Page
 5
 of 5 
  

 Please acknowledge your receipt and acceptance of this amendment by signing below and returning this letter to us at
your earliest convenience. If you have any questions or comments, please do not hesitate to call Matthew Kelly at (312) 930-3046. 
  

	
	Sincerely,
	
	 /s/ Mathew J. Kelly

	Matthew J. Kelly

 Agreed and Accepted: 
  

			
	By:	 	 /s/ Robert Shakoko

		 	Robert Shakotko Managing Director Standard & Poor’s
		
	cc:	 	Steve Rive
		 	Robert Benjamin

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]