Document:

Sixth amendment to the Restated and Amended Zions Bancorporation Pension Plan

 EXHIBIT 10.2 
 SIXTH AMENDMENT 
 TO THE RESTATED AND AMENDED 
 ZIONS BANCORPORATION 
 PENSION PLAN 
 This Sixth Amendment to the restated and amended Zions Bancorporation Pension Plan (the
“Plan”) is made and entered into this 15th day of September, 2009, by Zions Bancorporation, hereinafter referred to as the “Employer.” 
 W I T N E S S E T H : 
 WHEREAS, the Employer has heretofore entered into the
Plan, which Plan has been restated and amended in its entirety effective January 1, 2001, and 
 WHEREAS, the Employer has
reserved the right to amend the Plan in whole or in part, and 
 WHEREAS, the Employer now desires to amend the Plan for the
purpose of conforming the Plan to final regulations issued by the Internal Revenue Service under Code §415 in order to maintain the Plan’s qualified status under the Internal Revenue Code, 
 NOW THEREFORE, in consideration of the foregoing premises the Employer adopts the following amendments to the Plan (amended language is
marked in bold italics): 
 1. Section 11.2(a)(3) is amended, effective January 1, 2008, to read as
follows: 
  

	 	(3)	“Compensation” has the meaning stated in Section 1.15, except that effective for Limitation Years commencing on or after January 1, 2008, the
following additional rules shall apply. 

  

	 	(A)	 The term “Compensation” shall include payments of Post-Severance Compensation made to a Participant by the latest of (i) two and
one-half (2 1/2) months from the date of Termination
of Employment, (ii ) the end of the Limitation Year for which the Employer is required to furnish the Participants a written statement under Code §§6041(d), 6051(a)(3) and 6052 or (iii) the last day of the Plan Year. 

  

	 	(B)	The term “Compensation” shall not include any payment to a Participant by the Employer after the Participant’s Termination of Employment that is
not Post-Severance Compensation as defined in (C) below, even if payment of the amount is made within the time period specified in 11.2(a)(3)(A)(i) above. 

	 	(C)	“Post-Severance Compensation” shall mean any amount received as regular pay after Termination of Employment if: 

  

	 	(i)	the payment is regular remuneration for services during the Participant’s regular working hours, or remuneration for services outside the Participant’s
regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and 

  

	 	(ii)	the payment would have been paid to the Participant prior to a Termination of Employment if the Participant had continued in employment with the Employer.

 2. Section 11.2 is amended by adding the following at the end thereof: 
  

	 	(j)	Adjustments for Distribution Other than as a Straight Life Annuity. 

  

	 	(1)	Effective for Limitation Years commencing after June 30, 2007, a retirement benefit that is payable in any form other than a straight life annuity and that
is not subject to Code §417(e)(3) must be adjusted to an actuarially equivalent straight life annuity that equals the greater of the annual amount of the straight life annuity (if any) payable under the Plan at the same Annuity Starting Date,
and the annual amount of a straight life annuity commencing at the same Annuity Starting Date that has the same actuarial present value as the Participant’s form of benefit computed using an interest rate of 5% and the Applicable Mortality
Table. 

  

	 	(2)	For Limitation Years commencing before July 1, 2007, a retirement benefit that is payable in any form other than a straight life annuity and that is not subject
to Code §417(e)(3) must be adjusted to an actuarially equivalent straight life annuity that equals the annual amount of a straight life annuity commencing at the same Annuity Starting Date that has the same actuarial present value as the
Participant’s form of benefit computed using whichever of the following produces the greater annual amount: (i) the interest rate and mortality table or other tabular factor specified in the Plan for adjusting benefits in the same form;
and (ii) a 5% interest rate assumption and the Applicable Mortality Table. 

  

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	 	(3)	A retirement benefit that is payable in any form other than a straight life annuity and that is subject to Code §417(e)(3) must be adjusted so as to equal
the actuarially equivalent straight life annuity, determined according to the Annuity Starting Date, as provided in the following rules. 

  

	 	(A)	If the Annuity Starting Date is in a Plan Year beginning after 2005, the annual amount of the straight life annuity commencing at the same Annuity Starting Date
that has the same actuarial present value as the Participant’s form of benefit using whichever of the following produces the greatest annual amount: (i) the interest rate and the mortality table or other tabular factor specified in the
Plan for adjusting benefits in the same form; (ii) a 5.5% interest rate assumption and the Applicable Mortality Table; and (iii) the applicable interest rate under Code §417(e)(3) and the Applicable Mortality Table, divided by 1.05.

  

	 	(B)	If the Annuity Starting Date is in a Plan Year beginning in 2004 or 2005, the annual amount of the straight life annuity commencing at the same Annuity Starting
Date that has the same actuarial present value as the Participant’s form of benefit using whichever of the following produces the greater annual amount: (i) the interest rate and the mortality table or other tabular factor specified in the
Plan for adjusting benefits in the same form; and (ii) a 5.5% interest rate assumption and the Applicable Mortality Table. 

  

	 	(C)	If the Annuity Starting Date is on or after the first day of the first Plan Year beginning in 2004 and before December 31, 2004, and the Plan applies the
transition rule in section 101(d)(3) of PFEA ‘04 in lieu of the rule in (B) above, the annual amount of the straight life annuity commencing at the same Annuity Starting Date that has the same actuarial present value as the
Participant’s form of benefit determined in accordance with Notice 2004-78. 

  

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	 	(k)	Adjustments for Distributions Commencing Before Age 62: 

  

	 	(1)	if the benefit commences prior to the Participant’s attainment of age 62 and if the Annuity Starting Date is in a Limitation Year beginning before
July 1, 2007, the annual amount of the benefit payable in the form of a straight life annuity commencing at the Participant’s Annuity Starting Date that is the actuarial equivalent of the dollar limitation under Code §415(b)(1)(A) (as
adjusted under Code §415(d)), with actuarial equivalence computed using which ever of the following produces the smaller annual amount: 

  

	 	(A)	the interest rate and the mortality table or other tabular factor specified in the Plan for determining actuarial equivalence for early retirement purposes; or

  

	 	(B)	a 5% interest rate assumption and the Applicable Mortality Table. 

  

	 	(2)	if the benefit commences prior to the Participant’s attainment of age 62 and if the Annuity Starting Date is in a Limitation Year beginning on or after
July 1, 2007, and the Plan does not have an immediately commencing straight life annuity payable at both age 62 and the age of benefit commencement, the annual amount of a benefit payable in the form of a straight life annuity commencing at the
Participant’s Annuity Starting Date that is the actuarial equivalent of the dollar limitation under Code §415(b)(1)(A) (as adjusted under Code §415(d)), with actuarial equivalence computed using a 5% interest rate assumption and the
Applicable Mortality Table and expressing the Participant’s age based on completed calendar months as of the annuity starting date. 

  

	 	(3)	if the benefit commences prior to the Participant’s attainment of age 62 and if the Annuity Starting Date is in a Limitation Year beginning on or after July
1, 2007, and the Plan has an immediately commencing straight life annuity payable at both age 62 and the age of benefit commencement, the lesser of 

  

	 	(A)	the adjusted dollar limitation determined according to (2) above; and 

  

	 	(B)	the product of the dollar limitation under Code §415(b)(1)(A) (as adjusted under Code §415(d)) multiplied by the ratio of the annual amount of the
immediately commencing straight life annuity under the Plan at the Participant’s Annuity Starting Date to the annual amount of the immediately commencing straight life annuity under the Plan at age 62, both determined without applying the
limitations of Code §415. 

  

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	 	(l)	Adjustment When Benefit Commences After the Social Security Retirement Age. 

  

	 	(1)	if the benefit commences after the Participant’s attainment of age 65 and if the Annuity Starting Date is in a Limitation Year beginning before July 1,
2007, the annual amount of the benefit payable in the form of a straight life annuity commencing at the Participant’s Annuity Starting Date that is the actuarial equivalent of the dollar limitation under Code §415(b)(1)(A) (as adjusted
under Code §415(d)), with actuarial equivalence computed using which ever of the following produces the smaller annual amount: 

  

	 	(A)	the interest rate and the mortality table or other tabular factor specified in the Plan for determining actuarial equivalence for delayed retirement purposes; or

  

	 	(B)	a 5% interest rate assumption and the Applicable Mortality Table. 

  

	 	(2)	if the benefit commences after the Participant’s attainment of age 65 and if the Annuity Starting Date is in a Limitation Year beginning on or after July 1,
2007, and the Plan does not have an immediately commencing straight life annuity payable at both age 65 and the age of benefit commencement, the annual amount of a benefit payable in the form of a straight life annuity commencing at the
Participant’s Annuity Starting Date that is the actuarial equivalent of the dollar limitation under Code §415(b)(1)(A) (as adjusted under Code §415(d)), with actuarial equivalence computed using a 5% interest rate assumption and the
Applicable Mortality Table and expressing the Participant’s age based on completed calendar months as of the annuity starting date. 

  

	 	(3)	if the benefit commences after the Participant’s attainment of age 65 and if the Annuity Starting Date is in a Limitation Year beginning on or after
July 1, 2007, and the Plan has an immediately commencing straight life annuity payable at both age 65 and the age of benefit commencement, the lesser of 

  

	 	(A)	the adjusted dollar limitation determined according to (2) above; and 

  

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	 	(B)	the product of the dollar limitation under Code §415(b)(1)(A) (as adjusted under Code §415(d)) multiplied by the ratio of the annual amount of the
immediately commencing straight life annuity under the Plan at the Participant’s Annuity Starting Date to the annual amount of the immediately commencing straight life annuity under the Plan at age 65, both determined without applying the
limitations of §415. 

  

	 	(m)	For purposes of the foregoing subsections (j), (k) and (l) the following definitions apply: 

  

	 	(1)	“Applicable Mortality Table” means the table described in Revenue Ruling 2001-62, or such other table applicable under Code §417(e) as may be
published from time to time by the Internal Revenue Service. 

  

	 	(2)	“Annuity Starting Date” means the first day of the month for which an amount is payable as an annuity. In the case of a benefit not payable in the form
of an annuity, the Annuity Starting Date shall be the date on which the benefit is actually paid or begins to be paid. 

 8. This Sixth Amendment shall be effective January 1, 2007, and for Plan Years and Limitation Years commencing after that date, unless another effective date is specified therein. 
 9. In all other respects the Plan is ratified and approved. 
 IN WITNESS WHEREOF, the Employer has caused this Sixth Amendment to the Plan to be duly executed as of the date and year first above written. 
  

			
	“EMPLOYER”
	
	ZIONS BANCORPORATION
		
	By:	 	 /s/ Diana M. Andersen

	Name:	 	 Diana M. Andersen

	Title:	 	 SVP & Director of Corporate Benefits

  

 6Tenth amendment to the Zions Bancorporation dated September 15, 2009

 EXHIBIT 10.3 
 TENTH AMENDMENT 
 TO THE 
 ZIONS BANCORPORATION PAYSHELTER 401(k) AND 
 EMPLOYEE STOCK OWNERSHIP PLAN 
 (Compliance with Final Code §415
Regulations and Pension Protection Act of 2006) 
 This Tenth Amendment to the Zions Bancorporation Payshelter40l(k) and
Employee Stock Ownership Plan (the “Plan”) is made and entered into this 15 day of September, 2009, by the Zions Bancorporation Benefits Committee (“Committee”) on behalf of Zions Bancorporation, hereinafter referred to as the
“Employer.” 
 W I T N E S S E T H : 
 WHEREAS, the Employer has heretofore established the Plan, which has been amended and restated in its entirety effective for the plan year commencing on January 1, 2003, and for all plan years
thereafter; and 
 WHEREAS, the Employer has reserved the right to amend the Plan in whole or in part; and 
 WHEREAS, the Employer desires to amend the Plan to conform to final regulations issued by the Internal Revenue Service under Code §415
and to certain applicable provisions of EGTRRA and the Pension Protection Act of 2006 in order to maintain the Plan’s qualified status under the Internal Revenue Code and to provide for clarification and consistency among certain plan
provisions; 
 NOW THEREFORE, in consideration of the foregoing premises the Committee, for and on behalf of the Employer,
adopts the following amendments to the Plan (amended language is marked in bold italics): 
 (Compliance with
Final Code §415 Regulations) 
 1. Section 7.01(b)(l) is amended, effective January 1, 2008, by adding the
following new subsection (F) at the end thereof: 
  

	 	(F)	 Payments of Post-Severance Compensation made to a Participant by the later of (i) two and one-half (2 1/2) months from the date of Termination of Employment, or
(ii) the end of the Limitation Year for which the Employer is required to furnish the Participants a written statement under Code §§6041(d), 6051(a)(3) and 6052 or the last day of the Plan Year. 

 2. Section 7.01(b)(2) is amended, effective January 1, 2008, by adding the
following new subsection (G) at the end thereof: 
  

	 	(G)	Any payment to a Participant by the Employer after the Participant’s Termination of Employment that is not Post- Severance Compensation as defined herein,
even if payment of the amount is made within the time period specified in 7.01(b)(1)(F) above. 

 3.
Section 7.01 is amended, effective January 1, 2008, by adding the following new subsection (i) at the end thereof: 
  

	 	(i)	“Post-Severance Compensation” shall mean any amount received as regular pay after Termination of Employment if: 

  

	 	(1)	The payment is regular remuneration for services during the Participant’s regular working hours, or remuneration for services outside the Participant’s
regular working hours (such as overtime or shift differential), commissions, bonuses, other similar payments; and 

  

	 	(2)	The payment would have been paid to the Participant prior to a Termination of Employment if the Participant had continued in employment with the Employer.

 4. Section 7.05 is amended by adding the following at the end thereof: 
 The foregoing provisions of this Section 7.05 shall not apply for any Limitation Year commencing on or after
July 1, 2007. 
 (Compliance with EGTRRA and the Pension Protection Act of 2006) 
 5. The last paragraph of Section 5.12 is amended to read as follows: 
 For purposes of the above, income shall include realized and unrealized gains and losses for the Plan Year and for the period
from the end of the Plan Year to the date of distribution (the “gap period”) and shall be allocated to excess contributions in accordance with all appropriate Code and Regulations provisions issued by the Secretary.
Distributions of excess contributions pursuant to the above shall be made without regard to any consent by the Participant or Spouse

  

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otherwise required under this Plan. With the exception of distributions attributable to excess K-Test Contributions for the Plan Years commencing in 2006 and 2007, the Plan
specifically elects not to include income for the period from the end of the Plan Year to the date of distribution (the “Gap Period”) when making any distribution under this Section. Distributions attributable to excess K-Test
Contributions for the Plan Years commencing in 2006 and 2007 shall be adjusted for income (gain or loss), including an adjustment for income during the Gap Period. The Plan Administrator may, in its discretion, use any reasonable method for
computing the income allocable to excess K-Test Contributions, provided that the method does not violate Code §401(a)(4), is used consistently for all Participants and for all corrective distributions under the Plan for the Plan Year, and is
used by the Plan for allocating income to Participant’s Accounts. The Plan need not allocate income to excess K-Test Contributions which is accrued within 7 days before the date of distribution. 
 In lieu of the reasonable method provided above, the Plan Administrator may use the safe harbor method to determine
income on excess K-Test Contributions for the Gap Period. Under the safe harbor method, income on excess K-Test Contributions for the Gap Period is equal to 10% of the income allocable to excess K-Test Contributions for the Plan Year, multiplied by
the number of calendar months that have elapsed since the end of the Plan Year. Income allocable to K-Test Contributions shall be determined by multiplying the income for the Plan Year ollocable to the Elective Deferrals and other amounts taken into
account under the K-Test described in Section 5.10 (including contributions made for the Plan Year), by a fraction, the numerator of which is the excess K-Test Contributions for the Participant for the Plan Year, and the denominator of which is
the sum of the: 
  

	 	(e)	Account balance attributable to Elective Deferrals and other amounts taken into account under the K-Test as of the beginning of the Plan Year, and

  

	 	(f)	Any additional amount of such contributions made for the Plan Year. 

  

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 For purposes of calculating the number of calendar months that have elapsed under the
safe harbor method, a corrective distribution that is made on or before the 15th day of a month is treated is made on the last day of the preceding month and a distribution made after the 15th day of a month is treated as made on the last day of the
month. 
 6. Section 7.01(c)(2) is amended to read as follows: 
  

	 	(2)	one hundred percent (100%) of the Participant’s Compensation, as defined in this Section 7.01, for the Limitation Year. The Compensation limit referred
to in this sub-section 7.01(c)(2) shall not apply to any contribution for medical benefits after separation from service (effective January 1, 2002, severance from employment) (within the meaning of Code §401(h) or Code
§419A(f)(2)) which is otherwise treated as an Annual Addition. 

 7. The second paragraph of
Section 9.03 is amended to read as follows: 
 Not less than thirty (30) days nor more than ninety
(90) days (effective January 1, 2007, 180 days) before the Distribution Date, the Plan Administrator shall notify the Participant of the terms, conditions and forms of payment available from the Plan, including a description
of the election procedures under this Section and a general explanation of the financial effect on a Participant’s Accrued Benefit of the election. The minimum thirty (30) day waiting period after the notification is provided until the
Distribution Date may be disregarded if the Plan Administrator informs the Participant of his or her right to the full minimum thirty (30) day waiting period, and the Participant elects in writing (or by other means acceptable to the Plan
Administrator) to waive the minimum thirty (30) day waiting period. 
 8. Section 9.08(b) is amended to read as
follows: 
  

	 	(b)	If the Participant incurs a Termination of Employment for any reason not specified in (a), distribution of the Eligible Portion shall commence not later than one (1)
year after the close of the fifth (5th) Plan Year following the Plan Year in which the Participant incurred the Termination of Employment. If the Participant resumes employment with the Employer on or before the last day of the fifth (5th) Plan
Year following the Plan Year of his separation from Service (effective January 1, 2002, severance from employment), the mandatory distribution provisions of this paragraph (b) do not apply. 

  

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 9. The third Paragraph of Section 11.02 is amended to read as follows: 
 Not less than thirty (30) days nor more than ninety (90) days (effective January 1, 2007, 180
days) before the Distribution Date, the Plan Administrator shall notify the Participant of the terms, conditions and forms of payment available from the Plan, including a description of the election procedures under this Section and a
general explanation of the financial effect on a Participant’s Accrued Benefit of the election. The minimum thirty (30) day waiting period after the notification is provided until the Distribution Date may be disregarded if the Plan
Administrator informs the Participant of his or her right to the full minimum thirty (30) day waiting period, and the Participant elects in writing (or by other means acceptable to the Plan Administrator) to waive the minimum thirty
(30) day waiting period. 
 (Clarification and consistency among Plan provisions) 
 10. Section 18.01 is amended to read as follows: 
 18.01 Funding Method: The benefits provided by this Plan shall be funded by contributions of the Employer. Employer
Non-Elective contributions and Employer Matching Contributions shall consist entirely of Employer Securities. The Employer may make its Non-Elective Contribution or its Matching Contribution in cash or in kind, provided however,
that if the Non-Elective Contribution or the Matching Contribution is made in cash, the Plan shall immediately acquire Employer Securities with the entire amount of the Non-Elective Contribution and Matching Contribution and if the Non-Elective
Contribution or the Matching Contribution is made in kind, it shall be made in the form of Employer Securities only. Elective Deferral Contributions shall be made in cash only. All Employer Contribution amounts shall be determined as
provided in this Plan. 
 This Tenth Amendment shall be effective January 1, 2003, and for all Plan Years commencing on and
after that date, unless another effective date is specified therein, and in all other respects the Plan is ratified and approved. 
 IN WITNESS WHEREOF, the Zions Bancorporation Benefits Committee has caused this Tenth Amendment to the Plan to be duly executed as of the date and year first above written. 
  

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	ZIONS BANCORPORATION
	BENEFITS COMMITTEE
		
	By:	 	 /s Diana M. Andersen

	Its:	 	 SVP & Director of Corporate Benefits

  

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