Document:

Employment Agreement

 EXHIBIT 10.16 
  

			
		  	

		  	
		  	11150 Santa Monica Blvd.
	 BRETT WHITE
	  	Suite 1600
	 President and Chief Executive Officer
	  	Los Angeles, California 90025
		  	
	 CB Richard Ellis, Inc.
	  	310 405 8920 Tel
		  	310 405 8950 Fax
		  	
		  	brett.white@cbre.com
		  	www.cbre.com

  
 November 21, 2008 
  
 BY HAND DELIVERY 
 Mr. Gil Borok 
  
 Dear Gil: 
  
 Congratulations on your appointment as the Company’s Interim Chief Financial Officer for
CB Richard Ellis Group, Inc. (“CBRE” or “Company”). When signed by you, this letter will constitute an employment agreement (“Agreement”) and shall serve to confirm the complete terms of employment
in your new position. Upon the Effective Date, this Agreement will replace and supersede all previous terms of employment and all oral discussions regarding those terms of employment. 
  

	 Position: 
	Interim Chief Financial and Accounting Officer 

  

	 Effective Date: 
	December 1, 2008 

  

	 Salary: 
	$15,384.62 per bi-weekly pay period ($400,000 annual equivalency) 

  

	 Bonus: 
	From the Effective Date and thereafter, your bonus compensation will be based upon a target bonus of 75% of your base salary and will be subject to the terms and conditions of the Executive Bonus Plan
(“EBP”). The Performance Priorities associated with the achievement of this bonus will be weighted 80% on Global Company financial performance and 20% on personal performance priorities. (For calendar year 2008, your bonus will be
prorated based upon a ratio of 11/12 with your current target bonus and 1/12 with your new target bonus.) 

  

	 Transition Bonuses: 
	Upon the Effective Date, you will receive a bonus (“Bonus #1”) in the amount of $50,000. Upon the earlier of (i) the successful hiring and transition (not less than 90 days unless
agreed by the CEO) of a permanent CFO or (ii) September 1, 2009, you will receive a bonus (“Bonus #2”) in the amount of $125,000. 

	 Annual Equity: 
	You shall be eligible to participate in CBRE’s equity incentive program applicable to managers commensurate with your position. All grants are subject to the approval of the Compensation Committee of
CBRE’s Board of Directors each year prior to making the grant. The specific form of the grant (restricted stock, options, etc.), the number of units and vesting period are determined at the sole discretion of CBRE at the time of the grant.

  

	 Special Severance: 
	If CBRE terminates your employment without Cause (as defined below) from the effective date up to one (1) year following the date on which a new CFO commences his or her employment, CBRE will pay the
following Special Severance payment in lieu of the payment of severance under any other severance policy or program upon the following terms and conditions: 

  

	 	•	 	 You will be paid your salary through the date of termination. 

  

	 	•	 	 The Special Severance shall be paid only upon your execution of a full release of all claims against the Company in the form that is generally used by the Company
for severance paid under the Company’s Severance Policy. 

  

	 	•	 	 The Special Severance payment shall be paid in a lump sum and equal to the sum of the following: (i) a pro-rated amount (through the most recently completed
calendar month) of your target bonus for the calendar year of the date of termination; plus (ii) one and one-half times your salary; plus one and one-half times your target bonus. 

  

	 	•	 	 As part of your Special Severance, your vesting in the cliff-vest equity grant of $500,000 restricted stock granted in 2007 shall be accelerated and shall be fully
vested as of the date of termination. 

  

	 	•	 	 Payment of the Special Severance shall be delayed for six months if required by internal Revenue Code §409A or other deferred compensation rules.

  

	 	•	 	 As part of your Special Severance, CBRE will pay the employer portion of COBRA for you and your family for the earlier of (i) twelve (12) months after the
date of termination, or (ii) the date on which you are eligible for comparable benefits from a new employer. You will continue to be responsible for the employee portion of COBRA. 

  

	 	•	 	 As used herein, the term “Cause” shall mean any of the following: (i) conviction of (or plea of guilty or no contest to) a felony involving
moral turpitude: (ii) willful and continued failure to substantially perform duties after written notice: (iii) willful misconduct or gross negligence resulting in material harm to Company; and (iv) willful violation of Company
policies resulting in material harm to Company. 

	 	 •
	 	 Should you become employed or engaged as a consultant or independent contractor from the Effective Date through one year
after the date termination by one of the following direct competitors of CBRE (Jones Lang LaSalle, Cushman & Wakefield, Grubb & Ellis or Colliers), you agree to repay to CBRE within ten days of demand, the full amount of the
Special Severance Payment (bullet 3 above) and the value (on the date of termination) of the unvested portion of the equity grant that received accelerated vesting (4th bullet, above). 

  

	 Employment Upon Hiring of CFO: 
	Upon the earlier of (i) the hiring of new CFO followed by a 90-day transition period, or (ii) nine (9) months from the Effective Date, you will return to the position of CFO—Americas
Region based in EI Segundo, CA. If the position of CFO-Americas is not available or for any other reason not offered to you upon your written request, and you have not agreed in writing to accept another position with CBRE, the elimination of your
position as Interim CFO shall be deemed a termination without Cause. 

  
 You agree that you will give CBRE thirty (30) days notice of your resignation as an employee of CBRE. The Company agrees to give you thirty (30) days notice of the termination of your employment other than
for Cause. 
  

	 Confidential Information: 
	You agree that during your employment with CBRE, or after your termination of employment, without the prior written consent of the Company, you will not use, divulge, disclose, or make accessible to any
other person, firm, partnership, corporation or other entity any Confidential Information (as defined below) pertaining to the business of CBRE expect (i) while employed by the Company in the business of and for its benefit, or (ii) when
required to do so by a court of competent jurisdiction or regulatory body. 

  

	 	•	 	 In the event that you are or become compelled by an order of a court to disclose any Confidential Information, you are required to provide the Company with prompt,
prior written notice and to disclose only that portion of the Confidential Information which is legally required. 

  

	 	•	 	 “Confidential Information” means any non-public information (whether oral, written or contained on computer systems) relating to the business or
the affairs of the Company or any of its clients, whether obtained from the Company, any client or known by you as a consequence of or through your relationship with the Company, whether obtained before or after you execute this Agreement. Such
information includes but is not limited to non-public information 

	 	 
concerning the financial data, strategic or financial plans, business plans, proprietary project information, marketing plans, future transactions
(regardless of whether or not such transactions are executed), customer lists, employee lists, employees’ salary and other compensation, partners’ compensation, and other proprietary and confidential information of the Company or any of
its clients, that, in any case, is not otherwise available to the public. 

  

	 Additional Covenants: 
	You agree not disparage, criticize or ridicule, or otherwise engage in any conduct that is injurious to the reputation or interest of CBRE or any of its officers, directors, employees, salespeople and agents
to any third party. This provision shall survive your termination of employment. 

  
 In order to preserve the confidentiality of the Confidential Information (defined above), and to protect the Company’s proprietary interest in its
trade secrets, you agree that for a period of one year following the termination of your employment, (i) you will not solicit, on your own behalf or on behalf of any other person, firm, company or corporation, any of CBRE’s clients with
whom you dealt or with whom you became acquainted or whose names became known to you while employed by the Company, and (ii) you will not solicit for employment, on your own behalf or on behalf of any other person, firm, company or corporation,
any of CBRE’s salespeople or employees. 
  

	 Attorneys’ Fees: 
	CBRE agrees to reimburse you for your reasonable attorneys’ fees and costs in connection with any lawsuit or dispute between you and CBRE, including the enforcement of any provision in this Agreement,
provided that you are determined to be the prevailing party on at least one material issue in the lawsuit. 

  

	 Benefits: 
	Continued participation in the corporate fringe benefits package in accordance with Company policy. Paid time off and holiday benefits are available as established by Company policy.

  

	 Arbitration: 
	 In the event of any dispute or claim between you and CB Richard Ellis (including all of its employees, agents, subsidiary and affiliated entities, benefit plans, benefit plans’ sponsors,
fiduciaries, administrators, affiliates, and all successors and assigns or any of them), we jointly agree to submit all such disputes or claims to confidential binding arbitration and waive any right to a jury trial. The claims and disputes subject
to arbitration include all claims arising from or related to your employment or the termination of your employment including, but not limited to, claims for wages or other compensation due; claims for breach of any contract or covenant (express or
implied); tort claims; claims for discrimination (including, but not limited to, race, sex, religion, national origin, age, marital status, or medical condition or disability); claims for 

	 	 
benefits (except where an employee benefit or pension plan specifies that its claims procedure shall culminate in an arbitration procedure different from
this one); and claims for violation of any federal, state, or governmental law, statute, regulation, or ordinance. 

  
 The arbitration (i) shall be conducted pursuant to the provisions of the arbitration rules of the state in which you are or were last employed by CB
Richard Ellis (e.g., in California, the California Arbitration Act) or in absence of state law the Federal Arbitration Act; and (ii) shall be heard before a retired State or Federal judge in the county containing the Company’s office in
which you were last employed. The Company shall pay for all fees and costs of the Arbitrator, however, each party shall pay for its own costs and attorneys’ fees, if any. 
  
 Your signature on this letter indicates your acknowledgment and acceptance of these as the full and complete terms of your employment. I
hope you find this new opportunity challenging and rewarding in every respect and I look forward to working with you in this assignment. 
  
 If you have any questions, of if I can provide you with further information, please do not hesitate to contact me at 
 (310) 405-8920. 
  
  

	
	Sincerely,
	
	/s/ Brett White
	 Brett White
 Chief Executive
Officer

  
 I understand that this letter
represents the full and complete terms of this employment offer and I accept this offer of employment. 
  

					
	 /s/ Gil Borok
	 		 	 11/26/08

	Gil Borok	 		 	DateSuntrust Bank, Inc. Management Incentive Plan

 Exhibit 10.1 
 SUNTRUST BANKS, INC. MANAGEMENT INCENTIVE PLAN 
 As Restated With Amendments Through
December 31, 2008 
 Section 1.         Name and Purpose 
 The name of this Plan is the SunTrust Banks, Inc. Management Incentive Plan. The purpose of the Plan is to promote the interests of the Corporation and
its stockholders through the granting of Awards to select employees of the Corporation and its Subsidiaries in order to motivate and retain superior employees who contribute in a significant manner to the actual financial performance of the
Corporation as measured against pre-established financial and other goals. 
 Section 2.         Effective Date,
Term and Amendment 
 The effective date of the amended and restated Plan shall be March 14, 2005, and the amended and restated Plan
shall apply to all Awards granted on or after January 1, 2005; provided, however, if the Corporation’s shareholders fail to approve the material terms of the performance goals for the amended and restated Plan at their annual meeting in
2005, any Award granted under the Plan for 2005 to a Participant who is a Covered Employee for 2005 shall be cancelled and shall have no further force or effect whatsoever and no further Awards shall be granted to any Covered Employee under the
Plan. The Plan shall continue for an indefinite term until terminated by the Board; provided, however, that the Corporation and the Committee after such termination shall continue to have full administrative power to take any and all action
contemplated by the Plan which is necessary or desirable and to make payment of any Awards earned by Participants during any then unexpired Plan Year. The Board of Directors of the Corporation or the Committee may amend the Plan in any respect from
time to time. 
 Section 3.         Definitions and Construction 
 A. As used in this Plan, the following terms shall have the meanings indicated, unless the context clearly requires another meaning: 
 1. “Award” means the right to receive a cash payment which represents a percentage of a Participant’s Base Wages determined by the
Committee in accordance with Section 5 hereof in the event the Corporation, Subsidiary, Business Unit or individual achieves the Financial Goals or other goals established pursuant to Section 5. 
 2. “Base Wages” means the base salary paid to a Participant by the Corporation or a Subsidiary during a Plan Year, excluding bonuses, overtime,
commissions and other extra compensation, reimbursed expenses and contributions made by the Corporation or a Subsidiary to this or any other employee benefit plan maintained by the Corporation or a Subsidiary. 

 3. “Business Unit” means a division or other business unit of the Corporation or a Subsidiary
designated as a distinct entity for the purpose of setting goals and measuring performance. 
 4. “Code” means the Internal Revenue
Code of 1986, as amended. 
 5. “Committee” means the Compensation Committee of the Board or any other Committee of the Board to
which the responsibility to administer this Plan is delegated by the Board; such Committee shall consist of at least two members of the Board, who shall not be eligible to receive an Award under the Plan and each of whom shall be a
“disinterested” person within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934 and shall be or be treated as an “outside director” for purposes of Section 162(m) of the Code. 
 6. “Corporation” means SunTrust Banks, Inc. and any successor thereto. 
 7. “Covered Employee” means for each calendar year the Chief Executive Officer of the Corporation and the four other most highly compensated
executive officers whose compensation would be reportable on the “summary compensation table” under the Securities and Exchange Commission’s executive compensation disclosure rules, as set forth in Item 402 of Regulation S-K, 17
C.F.R. 229.402, under the Securities Exchange Act of 1934, if the report was prepared as of the last day of such calendar year. 
 8.
“Change in Control” means a change in control of the Corporation 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 Exchange Act of 1934 as in
effect at the time of such “change in control”, 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 Securities
Exchange Act of 1934), is or becomes the beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) directly or indirectly, of securities representing 20% or more of the combined voting power for election of directors of
the then outstanding securities of the Corporation or any successor of the Corporation; (ii) during any period of two consecutive years or less, individuals who at the beginning of such period constitute the Board of Directors of the
Corporation cease, for any reason, to constitute at least a majority of such Board of Directors, 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 the Corporation approve any reorganization, merger, consolidation or share exchange as a result of which the common stock of the Corporation shall be changed,
converted or exchanged into or for securities of another corporation (other than a merger with a wholly-owned subsidiary of the Corporation) or any dissolution or liquidation of the Corporation or any sale or the disposition of 50% or more of the
assets or business of the Corporation; or (iv) the shareholders of the Corporation approve any reorganization, merger, consolidation or share exchange unless (A) the persons who were the beneficial owners of the outstanding shares of the
common stock of the Corporation immediately before the consummation of such transaction beneficially own more than 65% of the outstanding shares of the common stock of the successor or survivor corporation in such transaction immediately following
the consummation of such transaction and (B) the number of shares of the common stock of such successor or survivor corporation beneficially owned by the persons described in 

  

 2 

 
Section 8(iv)(A) immediately following the consummation of such transaction is beneficially owned by each such person in substantially the same
proportion that each such person had beneficially owned shares of the Corporation’s common stock immediately before the consummation of such transaction, provided (C) the percentage described in Section 8(iv)(A) of the beneficially
owned shares of the successor or survivor corporation and the number described in Section 8(iv)(B) of the beneficially owned shares of the successor or survivor corporation shall be determined exclusively by reference to the shares of the
successor or survivor corporation which result from the beneficial ownership of shares of common stock of the Corporation by the persons described in Section 8(iv)(A) immediately before the consummation of such transaction. 
 9. “Effective Date” means either the date which includes the “closing” of the transaction which makes a Change In Control effective
if the Change in Control is made effective through a transaction which has a “closing” or the date a Change in Control is reported in accordance with applicable law as effective to the Securities and Exchange Commission if the Change in
Control is made effective other than through a transaction which has a “closing”. 
 10. “Employment” means continuous
employment with the Corporation or a Subsidiary from the beginning to the end of each Plan Year, which continuous employment shall not be considered to be interrupted by transfers between the Corporation and a Subsidiary or between Subsidiaries.

 11. “Final Value” means the value of an Award determined in accordance with Sections 5 and 6 as the basis for payments to
Participants at the end of a Plan Year. 
 12. “Financial Goals” means the financial objectives set by the Committee for each Plan
Year pursuant to Section 5 from one or any combination of the following: (i) the Corporation’s return over capital costs or increase in return over capital costs, (ii) the Corporation’s total earnings or the growth in such
earnings, (iii) the Corporation’s consolidated earnings or the growth in such earnings, (iv) the Corporation’s earnings per share or the growth in such earnings, (v) the Corporation’s net earnings or the growth in such
earnings, (vi) the Corporation’s earnings before interest expense, taxes, depreciation, amortization and other non-cash items or the growth in such earnings, (vii) the Corporation’s earnings before interest and taxes or the
growth in such earnings, (viii) the Corporation’s consolidated net income or the growth in such income, (ix) the value of the Corporation’s common stock or the growth in such value, (x) the Corporation’s stock price or
the growth in such price, (xi) the Corporation’s return on assets or the growth on such return, (xii) the Corporation’s total shareholder return or the growth in such return, (xiii) the Corporation’s expenses or the
reduction of expenses, (xiv) the Corporation’s sales growth, (xv) the Corporation’s overhead ratios or changes in such ratios, (xvi) the Corporation’s expense-to-sales ratios or changes in such ratios, (xvii) the
Corporation’s economic value added or changes in such value added, or (xviii) such other financial performance measures deemed appropriate by the Committee. 
 13. “Participant” means a select employee of the Corporation and/or its Subsidiaries who is selected by the Committee or the Committee’s delegate to participate in the Plan based upon the
employee’s substantial contributions to the future growth and future profitability of the Corporation and/or its Subsidiaries. 
  

 3 

 14. “Plan” means the SunTrust Banks, Inc. Management Incentive Plan as amended and restated in
this document and all amendments thereto. 
 15. “Plan Year” means a single calendar year period as set by the Committee which
commences on the first day of such period. 
 16. “Proportionate Final Value” means the product of a fraction, the numerator of
which is the actual number of full months in a Plan Year that an employee was a Participant in the Plan and the denominator of which is the total number of months in that Plan Year, multiplied by the Final Value of an Award. 
 17. “Subsidiary” means any bank, corporation or entity which the Corporation controls either directly or indirectly through ownership of fifty
percent (50%) or more of the total combined voting power of all classes of stock of such bank, corporation or entity, except for such direct or indirect ownership by the Corporation while the Corporation or a Subsidiary is acting in a fiduciary
capacity with respect to any trust, probate estate, conservatorship, guardianship or agency. 
 18. “Termination Value” means the
value of an Award as determined by the Committee, in its absolute discretion, upon the early termination of a Plan Year or upon a Participant’s termination of Employment before the end of such Plan Year, which value shall be the basis for the
payment of an Award to a Participant, in accordance with Sections 7(B), 7(C), 7(D), 8(A) or 8(B) of the Plan based on the Participant’s Employment prior to his termination of Employment or the early termination of such Plan Year. 
 B. In the construction of the Plan, the masculine shall include the feminine and the singular shall include the plural in all instances in which such
meanings are appropriate. The Plan and all agreements executed pursuant to the Plan shall be governed by the laws of Georgia (excluding its choice of law rules). 
 Section 4.         Committee Responsibilities 
 A. The Committee may, from time to
time, adopt rules and regulations and prescribe forms and procedures for carrying out the purposes and provisions of the Plan. The Committee shall have the sole and final authority to designate Participants, determine Awards, designate the Plan
Year, determine Financial Goals and other goals, determine Final Value of Awards, and answer all questions arising under the Plan, including questions on the proper construction and interpretation of the Plan. Any interpretation, decision or
determination made by the Committee shall be final, binding and conclusive upon all interested parties, including the Corporation and its Subsidiaries, Participants and other employees of the Corporation or any Subsidiary, and the successors, heirs
and representatives of all such persons. The Committee shall use its best efforts to ensure that Awards to Covered Employees under the Plan qualify as “performance-based compensation” for purposes of Section 162(m) of the Code.

 B. Subject to the express provisions of the Plan and no later than the end of the first quarter of a calendar year (or such time as may be
permitted for Awards paid for such year to be treated as performance-based compensation under Section 162(m)), the Committee shall: 
 1. Designate the Plan Year which shall begin on the first day of such year. 
  

 4 

 2. Designate the Participants for each such Plan Year. 
 3. Establish the Financial Goals and other goals for the Corporation, designated Subsidiaries and Business Units and Participants for each such Plan
Year. 
 4. Establish the method of calculating the Final Value of each Award. 
 5. Authorize management (a) to notify each Participant that he has been selected as a Participant and to inform him of the Financial Goals or other
goals that have been established for such Plan Year and (b) to obtain from him such agreements and powers and designations of beneficiaries as it shall reasonably deem necessary for the administration of the Plan. 
 C. During any Plan Year, the Committee may, if it determines that it will promote the purpose of the Plan, designate as additional Participants any
employees of the Corporation and its Subsidiaries who have been hired, transferred or promoted into a position eligible for participation in the Plan. The individual’s designation as a Participant shall be subject to the same restrictions,
limitations, Financial Goals or other goals and other conditions as those held by other Participants for the same Plan Year and their participation may be made retroactive to the first day of such Plan Year; provided, however, no Participant who is
added will be paid an Award for any calendar year to the extent such payment, when added to all his other compensation for such year, would be nondeductible under Section 162(m) of the Code. 
 D. During any Plan Year, the Committee may, if it determines it will promote the purpose of the Plan, revoke the Committee’s prior designation of an
employee as a Participant under the Plan for a Plan Year. 
 E. Subject to Section 5A, the Committee may revise the Financial Goals or
other goals for any Plan Year to the extent the Committee, in the exercise of its absolute discretion, believes necessary to achieve the purpose of the Plan in light of any unexpected or unusual circumstances or events, including, but not limited
to, changes in accounting rules, accounting practices, tax laws and regulations, or in the event of mergers, acquisitions, divestitures, unanticipated increases in Federal Deposit Insurance premiums, and extraordinary or unanticipated economic
circumstances. 
 F. The Committee may delegate any of its responsibilities under this Plan to such members of management of the Corporation
as the Committee shall select, provided that no such delegation shall be made that has the effect of causing an award to a Covered Employee to fail to qualify as “performance-based compensation” for purposes of Section 162 (m).

  

 5 

 Section 5.         Goals 
 A. Financial Goals for Covered Employees 
 [Section 5.A. was amended to read as follows, effective January 1, 2007:] 
 For each Plan Year, the Committee shall establish for each
Participant who is expected to be a Covered Employee and, at the Committee’s discretion, for any other Participant one or more Financial Goals. These Financial Goals may be established in any manner the Committee deems appropriate, including
achievement on an absolute or a relative basis as compared to peer groups or indexes, and these goals may be established as multiple goals or as alternative goals. The Committee shall determine the Final Value of each Award as a specified percent of
the Participant’s Base Wages based on the attainment of such Financial Goals for the Plan Year. The Committee may fix a minimum Financial Goal for the Plan Year, and the Final Value of an Award shall be equal to zero if the minimum Financial
Goal is not achieved. The Committee may also fix a minimum Financial Goal for the Plan Year, and the Final Value of an Award shall be equal to zero if the minimum Financial Goal is not achieved. The Committee may also fix a maximum Financial Goal
and such other Financial Goals which fall between the maximum and minimum Financial Goals as the Committee shall deem appropriate, with corresponding Final Values for such Awards with respect to the Corporation. The Committee also fix a maximum
Financial Goal and such other Financial Goals which fall between the maximum and minimum Financial Goals as the Committee shall deem appropriate, with corresponding Final Values for such Awards with respect to the Corporation. Subject to
Section 6B, Awards will be determined based upon achieving or exceeding the Financial Goals set by the Committee, and the Committee may establish Financial Goals with the expectation and understanding that the Committee nevertheless will reduce
a Covered Employee’s Award based on the achievement of such Financial Goals in accordance with Section 6B to a level commensurate with a Covered Employee’s achievement of other goals set by the Committee. Straight line interpolation
will be used to calculate Awards when performance falls between any two specified Financial Goals. In determining whether any Financial Goal has been satisfied, the Committee may exclude any or all extraordinary items (as determined under U.S.
generally accepted accounting principles), and any other unusual or non-recurring items, including but not limited to, charges or costs associated with restructurings of the Corporation, discontinued operations and the cumulative effects of
accounting changes. In addition, the Committee may adjust any Financial Goal for a Plan Year as it deems equitable to recognize unusual or non-recurring events affecting the Corporation, changes in tax laws or accounting procedures and any other
factors as the Committee may determine (including adjustments that would result in the Corporation’s payment of non-deductible compensation). The Committee shall identify any such exclusions and adjustments which the Committee will use to
determine whether a Financial Goal has been satisfied by a Covered Employee when the Committee sets the related Financial Goals. No Participant may receive an Award in excess of $5 million for any given Plan Year. 
 [Before January 1, 2007, Section 5.A. read as follows:] 
 For each Plan Year, the Committee shall establish for each Participant who is expected to be a Covered Employee and, at the Committee’s discretion, for any other Participant one or more Financial Goals. These Financial Goals may
established in any manner the Committee deems appropriate, including achievement on an absolute or a relative basis as compared to peer groups or indexes, and these goals may be established as multiple goals or as alternative goals. The Committee
shall determine the Final Value of each Award as a specified percent of the Participant’s Base Wages based on the attainment of such Financial Goals for the Plan Year. The Committee shall fix a minimum Financial Goal for the Plan Year, and the
Final Value of an 

  

 6 

 
Award shall be equal to zero if the minimum Financial Goal is not achieved. The Committee shall also fix a maximum Financial Goal and such other Financial
Goals which fall between the maximum and minimum Financial Goals as the Committee shall deem appropriate, with corresponding Final Values for such Awards with respect to the Corporation. Awards will be determined based upon achieving or exceeding
the Financial Goals set by the Committee. Straight line interpolation will be used to calculate Awards when performance falls between any two specified Financial Goals. In determining whether any Financial Goal has been satisfied, the Committee may
exclude any or all extraordinary items (as determined under U.S. generally accepted accounting principles), and any other unusual or non-recurring items, including but not limited to, charges or costs associated with restructurings of the
Corporation, discontinued operations and the cumulative effects of accounting changes. In addition, the Committee may adjust any Financial Goal for a Plan Year as it deems equitable to recognize unusual or non-recurring events affecting the
Corporation, changes in tax laws or accounting procedures and any other factors as the Committee may determine (including adjustments that would result in the Corporation’s payment of non-deductible compensation). The Committee shall identify
any such exclusions and adjustments which the Committee will use to determine whether a Financial Goal has been satisfied by a Covered Employee when the Committee sets the related Financial Goals. No Participant may receive an Award in excess of $5
million for any given Plan Year. 
 B. Goals for Other Participants 
 For each Plan Year, the Committee may establish for each Participant (other than a Participant who is expected to be a Covered Employee) goals in
addition to or in lieu of any Financial Goals established under Section 5A based on the performance of the Corporation, a Subsidiary, a Business Unit or the individual or any combination of the foregoing. These goals may be established based on
a combination of financial measurements and non-financial measurements that are deemed to further corporate objectives, including such measurements as business unit net income, revenue growth, budget management, achievement of talent management
objectives, achievement of corporate objectives, individual objectives, and service quality. Straight line interpolation will be used to calculate Awards when results fall between any two specified goals established under this Section 5B. No
Participant may receive an Award in excess of $5 million for any given Plan Year. 
 Section 6.         Payment of
Awards 
 A. Promptly after the date on which the necessary information for a particular Plan Year becomes available, the Committee, or
such persons as the Committee shall designate, shall determine in accordance with Section 5 the extent to which the Financial Goals or other goals have been achieved for such Plan Year and authorize the cash payment of the Final Value of an
Award, if any, to each Participant. The Committee shall review and ratify the Award determinations and shall certify such Award determinations in writing. Payment of Awards shall be made as soon as practical after the certification of Awards by the
Committee, but no later than March 15 of the year following the Plan Year to which the Award relates. Each Award shall be paid in cash after deducting the amount of applicable Federal, State, or Local withholding taxes of any kind required by
law to be withheld by the Corporation. All Awards, whether paid currently or paid under any plan which defers payment, shall be payable out of the Corporation’s general assets. Each Participant’s claim, if any, for the payment of an Award,
whether made 

  

 7 

 
currently or made under any plan which defers payment, shall not be superior to that of any general and unsecured creditor of the Corporation. If an error or
omission is discovered in any of the determinations, the Committee shall cause an appropriate equitable adjustment to be made in order to remedy such error or omission. 
 B. [Effective January 1, 2007, Section 6.B. was amended to read as follows:] 
 Notwithstanding the terms of any Award and the achievement of any Performance Goals, the Committee in its sole and absolute discretion may reduce the amount of the Award payable to any Participant for any reason, recognizing on the one hand
that the Committee may establish Financial Goals with the expectation and understanding that the Committee nevertheless will reduce a Covered Employee’s Award based on the achievement of such Financial Goals in accordance with this
Section 6B to a level commensurate with a Covered Employee’s achievement of other goals set by the Committee and recognizing on the other hand that the Committee may determine (among other things) that the Financial Goals or other goals
underlying an Award had become an inappropriate measure of achievement for a Participant, that there was a change in the Participant’s employment status, position or duties or in the Committee’s expectation of his or her level of
performance or that the Participant’s was working for less than the entire Plan Year. 
 [Before January 1, 2007,
Section 6.B. read as follows:] 
 Notwithstanding the terms of any Award, the Committee in its sole and absolute discretion, may
reduce the amount of the Award payable to any Participant for any reason, including the Committee’s judgment that the Financial Goals or other goals have become an inappropriate measure of achievement, a change in the employment status,
position or duties of the Participant, unsatisfactory performance of the Participant, or the Participant’s service for less than the entire Plan Year. 
 C. In accordance with the procedures set forth in the SunTrust Banks, Inc. Deferred Compensation Plan, a Participant may elect to defer receipt of either fifty percent (50%) or one hundred percent (100%) of
the Final Value of his Award, if any, for each Plan Year, and any such election shall be made in accordance with the procedures established under such deferred compensation plan. 
 Section 7.         Participation for Less Than a Full Plan Year 
 A. [For Plan Years beginning January 1, 2008 and later, the Compensation Committee in August 2008 adopted the following amendment and restatement of Section 7.A.:] 
 For Awards granted in Plan Years beginning before 2008 and except as otherwise provided in this Section 7 as in effect at the relevant time, an
Award to a Participant was forfeited if the Participant’s Employment terminated during any Plan Year and no payment was due the Participant for any forfeited Award. For Awards granted in Plan Years beginning after 2007 and except as otherwise
provided in this Section 7 or in Section 8 or except as otherwise announced by the Committee, an Award granted on and after January 1, 2008, shall be forfeited 

  

 8 

 
if the Participant’s Employment terminates during the Plan Year to which the Award relates or during the period January 1 through the last day of
February of the year immediately following the end of the Plan Year to which the Award relates. If a Participant terminates Employment during the period January 1 through the last day of February of the year immediately following the end of the
Plan Year to which an Award relates, and if such termination of Employment is because of his death, his disability as described in Section 7.C. or his early or normal retirement as described in Section 7.D., then the Committee shall waive
the Employment condition and authorize the payment of the Award to the Participant based on the Final Value, if any, of his Award, unless the Committee in its discretion feels the Award should be forfeited. No payment is due the Participant for any
forfeited Award. 
 [Before the amendment to Section 7.A. set forth above, Section 7.A. read as follows:] 
 Except as otherwise provided in this Section 7, an Award to a Participant shall be forfeited if the Participant’s Employment terminates during
any Plan Year and no payment shall be due the Participant for any forfeited Award. 
 B. If a Participant’s Employment terminates prior
to the end of any Plan Year on account of his death, the Committee shall waive the Employment condition and shall authorize the payment of an Award on behalf of such Participant in accordance with Section 9B at the end of such Plan Year based
on the Proportionate Final Value, if any, of his Award, unless the Committee in its discretion feels the Award should be forfeited. 
 C. If
a Participant’s Employment terminates prior to the end of any Plan Year on account of disability under a long-term disability plan maintained by the Corporation or a Subsidiary, the Committee shall waive the Employment condition and shall
authorize, as of commencement of disability benefits to such Participant, the payment of an Award to such Participant at the end of such Plan Year based on the Proportionate Final Value, if any, of his Award, unless the Committee in its discretion
feels the Award should be forfeited. 
 D. If a Participant’s Employment terminates prior to the end of any Plan Year on account of his
early or normal retirement under any pension plan maintained by the Corporation or any Subsidiary or on account of a reduction in force which will result in a severance benefit payment to the Participant pursuant to the terms of the SunTrust Banks,
Inc. Severance Pay Plan or any successor to such plan, the Committee shall waive the Employment condition and shall authorize the payment of an Award to such Participant at the end of such Plan Year based on the Proportionate Final Value, if any, of
his Award, unless the Committee in its discretion feels the Award should be forfeited. 
 Section 8.        
Premature Satisfaction of Plan Conditions 
 A. In the event the Effective Date of a Change in Control of the Corporation is prior to
the end of any Plan Year, the Committee shall waive any and all Plan conditions and shall authorize the payment of an Award immediately to each Participant based on the Termination Value, if any, of his Award; provided, however, if an Award is then
subject to Section 409A of the Code, the payment of such Award pursuant to this Section 8A shall not be made unless the Change in Control also constitutes a change in the ownership or effective control of the Corporation or in the
ownership of a substantial portion of the assets of the Corporation within the meaning of Section 409A(a)(2)(A)(v) of the Code. 
  

 9 

 B. If a tender or exchange offer is made other than by the Corporation for shares of the
Corporation’s stock prior to the end of any Plan Year, the Committee may waive any and all Plan conditions and authorize, at any time after the commencement of the tender or exchange offer and within thirty (30) days following completion
of such tender or exchange offer, the payment of an Award immediately to each Participant based on the Termination Value, if any, of his Award; provided, however, if an Award is then subject to Section 409A of the Code, the payment of such
Award pursuant to this Section 8B shall not be made unless the tender or exchange offer also constitutes a change in the ownership or effective control of the Corporation or in the ownership of a substantial portion of the assets of the
Corporation within the meaning of Section 409A(a)(2)(A)(v) of the Code. 
 C. A Plan Year for an Award shall terminate upon the
Committee’s authorization of the payment of such Award during such Plan Year pursuant to this Section 8 and no further payments shall be made for such Plan Year with respect to such Award. 
 [The following Section 8.D. was added to the Plan by action of the Compensation Committee in August 2008:] 
 D. For Awards granted in Plan Years beginning after 2007, if vesting of an Award is contingent on the Participant’s Employment during the period
January 1 through the last day of February of the year immediately following the end of the Plan Year to which an Award relates, and if the Effective Date of a Change in Control of the Corporation occurs during that period or if a tender or
exchange offer is made by another corporation during that period, as described in Section 8.A. or 8.B. above, the Committee shall, in the event of such Change in Control, or may, at any time after the commencement of such tender or exchange
offer and within 30 days after its end, authorize the payment, at Final Value, of all outstanding Awards to Participants in Employment on the last day of the Plan Year to which the Awards relate. If any Award payable under this Section 8.D. is
then subject to Section 409Aof the Code, no payment shall be made unless the Change in Control or the tender or exchange offer, as applicable, also satisfies the definition of “change in control” within the meaning of
Section 409A(a)(2)(A)(v) of the Code. 
 Section 9.         Non-Transferability of Rights and Interests

 A. A Participant may not alienate, assign, transfer or otherwise encumber his rights and interests under this Plan and any attempt to do
so shall be null and void. 
 B. In the event of a Participant’s death, the Committee shall authorize payment of any Award due a
Participant under Section 7B to the Participant’s designated beneficiary as specified or, in the absence of such written designation or its effectiveness, then to his estate. Any such designation may be revoked and a new beneficiary
designated by the Participant by written instrument delivered to the Committee. 
  

 10 

 Section 10.         Limitation of Rights 
 Nothing in this Plan shall be construed to give any employee of the Corporation or a Subsidiary any right to be selected as a Participant or to receive
an Award or to be granted an Award other than as is provided herein. Nothing in this Plan or any agreement executed pursuant hereto shall be construed to limit in any way the right of the Corporation or a Subsidiary to terminate a Participant’s
employment at any time, without regard to the effect of such termination on any rights such Participant would otherwise have under this Plan, or give any right to a Participant to remain employed by the Corporation or a Subsidiary in any particular
position or at any particular rate of remuneration. 
 This restated Plan document contains the Plan as amended and restated effective March 14, 2005,
as approved by shareholders on April 19, 2005, and with subsequent amendments adopted through December 31, 2008. 
 Executed this
             day of January, 2009. 
  

									
	SUNTRUST BANKS, INC.	 		 	WITNESS:
					
	By:	 	 /s/ Rebecca Lynn-Crockford
	 		 	By:	 	 /s/ Frank Lawton

	Title:	 	Senior Vice President	 		 	Title:	 	Manager, Executive Compensation

  

 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00154-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00154-of-00352.parquet"}]]