Document:

Description of compensation arrangements for non-employee directors

 Exhibit 10.12 
 DESCRIPTION OF COMPENSATION ARRANGEMENTS FOR NON-EMPLOYEE DIRECTORS 
 For the period beginning on the date of the
2008 Annual Meeting until the 2009 Annual Meeting, directors who are not employees of State Street or the Bank received the following compensation: 
  

	 	•	 	 Annual retainer—$75,000, payable at their election in shares of the Registrant’s common stock or in cash; 

  

	 	•	 	 Meeting fees—$1,500 for each Board and committee meeting attended, payable in cash; 

  

	 	•	 	 A deferred stock award in an amount equal to $110,000 divided by the closing price of the stock on April 30, 2008 (together with additional stock amounts
to reflect dividend and distribution amounts paid during deferral); 

  

	 	•	 	 An additional annual retainer for the Lead Director of $25,000, payable at his or her election in shares of the Registrant’s common stock or in cash;

  

	 	•	 	 An additional annual retainer for the Examining and Audit Committee Chair of $25,000, payable at his or her election in shares of the Registrant’s common stock
or in cash; 

  

	 	•	 	 An additional annual retainer for each other Committee Chair of $15,000, payable at their election in shares of the Registrant’s common stock or in cash;

  

	 	•	 	 An additional annual retainer for each member of the Examining and Audit Committee, other than the Chair, of $10,000 payable at their election in shares of the
Registrant’s common stock or in cash; and 

  

	 	•	 	 A pro-rated annual retainer and deferred stock award for any director who was elected to the Board after the 2008 Annual Meeting. 

 Pursuant to State Street’s Deferred Compensation Plan for Directors, directors may elect to defer the receipt of 50% or 100% of their (i) retainers,
(ii) meeting fees, and/or (iii) annual award of shares of common stock. Directors also may elect to receive all of their retainers in cash or shares of common stock. Directors who elect to defer the cash payment of their retainers and/or
meeting fees may also make notional investment elections with respect to such deferrals, with a choice of one or more of five notional investment fund returns, including one that tracks the performance of State Street common stock. To the extent the
amounts are deferred, they will be paid (i) on the date elected by the director, either the date of his or her termination of service on the Board or a future date specified, and (ii) in the form elected by the director as either a lump
sum or in installment over a two- to ten-year period. 
 For this period, six directors elected to receive their annual retainers in cash, and all other
outside directors elected to receive their annual retainers in shares of common stock. Eleven directors elected to defer all or a portion of their compensation under the plan.Memorandum of agreement of employment of Edward J. Resch

 Exhibit 10.13 
 Memorandum of Agreement of Employment of Edward J. Resch 
 September 11, 2002 
 Mr. Edward J. Resch 
 1 Evergreen Lane 
 Colts Neck, NJ 07722 
 Dear Ed: 
 On behalf of State Street, I am pleased to provide you with our revised offer of employment to you, subject to a
satisfactory completion of references and legally required background investigation, as Executive Vice President, Chief Financial Officer. In this position, you will be reporting directly to David A. Spina, Chairman and Chief Executive Officer. Your
compensation package will consist of the following: 
  

	 	•	 	 An annualized base salary of $500,000 paid on the 15th and the 30th of each month, less all applicable taxes. 

  

	 	•	 	 A sign-on bonus of $1,000,000. Of this amount, $500,000 will be payable to you 30 days from your date of hire, and $500,000 will be payable to you in February 2003.

  

	 	•	 	 You will be eligible to participate in the Senior Executive Annual Incentive Plan starting in the 2003 plan year. Your ongoing annual incentive target will be 75%
of base salary; actual payout will be based on corporate business results and your individual performance. 

  

	 	 •
	 	 An initial grant of 28,500 stock options to be awarded in September 2002, pending approval of the Executive Compensation
Committee. Once these options are issued they will vest one-third ( 1/3) each year for a three-year period. The first third
will vest in September 2003. These options will expire ten years from grant date. 

  

	 	•	 	 A grant of 14,000 restricted stock awards. These awards will vest a third each year over a three-year period beginning in December 2003.

  

	 	•	 	 In December 2002 you will be eligible to receive a long-term incentive opportunity in the form of performance units (or an equivalent plan), valued at approximately
$500,000 annually based on company performance and payable after December, 2004. 

  

	 	•	 	 Execution of a Change in Control (CIC) agreement within 30 days upon your joining the company. The agreement will have a single trigger and will cover base and
bonus for three years. 

  

	 	•	 	 Severance benefits of up to two years of base salary and benefits. In addition, should a Change-in-Control occur within 36 months of your date of hire, you will be
eligible for an additional payment of one year’s base salary and target bonus. This additional severance provision will lapse at the completion of 36 months of service. 

  

	 	•	 	 Full relocation under our executive relocation program with temporary living arrangements for up to six months, as required. Please refer to the letter outlining
relocation benefits, which was provided to you last week. 

  

	 	•	 	 Documents detailing our benefits have also been provided to you under separate cover. 

 Please note that this material does not constitute a contract of employment for a fixed term. Either you or the company may terminate your employment relationship at any
time. This offer is contingent upon completion of normal background verification and your providing proof of eligibility for employment, which complies with the Immigration Reform and Control Act. 

  Page
 2
 
 September 11, 2002 
  

 Upon your arrival, Pam Keel, Manager of Staffing Support, will work with you to complete the necessary paperwork
prior to your start date. She will also talk with you about our Officer Orientation Program. In addition, Boon Ooi, our Manager of Worldwide Compensation and U.S. Benefits, will meet with you to review the details of our health, welfare and pension
plans, options for deferred compensation, and any questions you may have related to your overall compensation and benefits. Boon is available for clarification of any questions you may have. He can be reached at 617-985-6348. 
 Your signature below will indicate that you do not have a competitive agreement with your current or past employers which conflicts with your employment at State Street
and that you will not disclose to State Street any proprietary information belonging to your current or past employer. 
 A copy of this letter is enclosed
for your records. Please sign and return this letter to me in the enclosed envelope as soon as possible. 
 It is sincerely a pleasure to welcome you to
State Street. I am confident that you will make a valuable contribution to the company. Please do not hesitate to call me at 617-664-1666, if I may be of any assistance to you. Welcome!  
  

							
		 		 		 	Sincerely,
				
		 		 		 	 /s/ Luis J. de Ocejo

		 		 		 	Luis J. de Ocejo
		 		 		 	 Executive Vice President
 Human Resources
&
 Organizational Performance
 TBD

			
	 /s/ Edward J. Resch
	 		 	  

	Edward J. Resch	 	9/16/02	 		 	Start Date
				
	cc: David A. SpinaForm of Waiver

 Exhibit 10.15 
 FORM OF WAIVER 
 In consideration for the benefits I will receive as a result of my employer’s
participation in the United States Department of the Treasury’s TARP Capital Purchase Program, I hereby voluntarily waive any claim against the United States or my employer for any changes to my compensation or benefits that are required to
comply with the regulation issued by the Department of the Treasury as published in the Federal Register on October 20, 2008. 
 I acknowledge that this
regulation may require modification of the compensation, bonus, incentive and other benefit plans, arrangements, policies and agreements (including so-called “golden parachute” agreements) that I have with my employer or in which I
participate as they relate to the period the United States holds any equity or debt securities of my employer acquired through the TARP Capital Purchase Program. 
 This waiver includes all claims I may have under the laws of the United States or any state related to the requirements imposed by the aforementioned regulation, including without limitation a claim for any compensation or other payments I
would otherwise receive, any challenge to the process by which this regulation was adopted and any tort or constitutional claim about the effect of these regulations on my employment relationship. 
 * * * * * 

 IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand to this Waiver as of the
             day October, 2008. 
  

	
	  
	Name:Form of Omnibus Amendment

 Exhibit 10.16 
 OMNIBUS AMENDMENT 
 AMENDMENT, dated as of October 28, 2008 (the
“Amendment”), by and between                      (the “Executive”) and State Street Corporation (the
“Company”). 
 WHEREAS, in connection with the purchase by the United States Department of the Treasury (the
“Treasury”) of certain preferred shares and warrants of the Company, pursuant to a Letter Agreement and a Securities Purchase Agreement—Standard Terms, dated as of October 26, 2008 between the Treasury and the Company (the
“Purchase Agreement”), the Company is required to meet certain executive compensation and corporate governance standards under Section 111(b) of the Emergency Economic Stabilization Act of 2008 (the “EESA”) as
implemented by guidance or regulation thereunder that has been issued and is in effect as of the Closing Date (as defined in the Purchase Agreement) (such guidance or regulation being hereinafter referred to as the “CPP Guidance”);

 WHEREAS, as a condition to the purchase of the debt or equity securities of the Company acquired by the Treasury pursuant to the Purchase
Agreement or the Warrant (as defined in the Purchase Agreement) (such debt or equity securities being hereinafter referred to as the “Purchased Securities”), amendments are required to be made to the compensation, bonus, incentive
and other benefit plans, arrangements, policies and agreements (including “golden parachute”, severance and employment agreements) that the Company’s “Senior Executive Officers” as defined in subsection 111(b)(3) of
the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30, have with the Company or its affiliates or in which its Senior Executive Officers participate in connection with a Senior Executive Officer’s
employment with the Company or its affiliates (collectively, the “Compensation and Benefit Arrangements”); 
 WHEREAS, the
Executive is now or may in the future be a Senior Executive Officer; and 
 WHEREAS, in consideration for the benefits the Executive will
receive as a result of the participation of the Company in the Treasury’s TARP Capital Purchase Program, the Executive desires to modify the Executive’s Compensation and Benefit Arrangements to the extent necessary to comply with
Section 111(b) of the EESA, the CPP Guidance and the Purchase Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the
covenants set forth herein, the parties hereto agree as follows: 
  

	 	1.	Amendments to the Compensation and Benefit Arrangements. Effective as of the date hereof (to the extent the Executive is a Senior Executive Officer for the 2008 calendar
year) or effective as of any calendar year commencing after January 1, 2008, if any, as to which the Executive shall in the future be a Senior Executive Officer and any Purchased Securities are owned by the Treasury, the Executive’s
Compensation and Benefit Arrangements are hereby amended during such and any subsequent periods as necessary to comply with the executive compensation and corporate governance requirements of 

	 	    	Section 111(b) of the EESA and the CPP Guidance, and the provisions of Sections 1.2(d)(iv), 1.2(d)(v) or 4.10 of the Purchase Agreement, including as follows:

  

	 	a.	In the event that any payment or benefit to which the Executive is or may become entitled thereunder is a “golden parachute payment” for purposes of Section 111(b) of
the EESA and the CPP Guidance, including the rules set forth in § 30.9 Q-9 of 31 C.F.R. Part 30, (i) the Company shall not make or provide (nor shall the Company be obligated to make or provide), during the period that the Treasury owns
any Purchased Securities, such payment or benefit to the Executive, and (ii) the Executive shall not be entitled to receive, during the period that the Treasury owns the Purchased Securities, such payment or benefit. 

 

	 	b.	Any bonus or incentive compensation paid to the Executive during the period that the Treasury owns the Purchased Securities will be subject to recovery or “clawback” by
the Company or its affiliates if the payments were based on materially inaccurate financial statements or any other materially inaccurate statement of performance metric criteria, all within the meaning of Section 111(b) of the EESA and the CPP
Guidance. 

  

	 	2.	Miscellaneous. 

  

	 	a.	The Executive’s execution of this Amendment shall not be determinative of the Executive’s status as a Senior Executive Officer. 

  

	 	b.	This Amendment shall be void and without effect ab initio if the Closing (as defined in the Purchase Agreement) of the transactions contemplated by the Purchase Agreement
does not occur. 

  

	 	c.	This Amendment may be executed in one or more counterparts, and by different parties hereto in separate counterparts, each of which when executed shall be an original, but all of
which when taken together shall constitute one and the same agreement. 

  

	 	d.	This Amendment shall be governed by, and interpreted in accordance with, the laws of the Commonwealth of Massachusetts. 

  

 2 

 IN WITNESS WHEREOF, the Company has caused this Amendment to be signed by its duly authorized
representative and the Executive has hereunto set his or her hand as of the day and year first above written. 
  

							
	EXECUTIVE	 		 		 	STATE STREET CORPORATION
				
	  
	 		 	By:	 	  

	Name:	 		 		 	Name:
		 		 		 	Title:

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