Document:

EX-10.41

 

Exhibit 10.41

NCC STOCK OPTION AGREEMENT

Non-Incentive Stock Option 2004 LTCE Plan

NATIONAL CITY CORPORATION

Stock Option Agreement – Non-Incentive Stock Option

          WHEREAS, the individual identified as Optionee (“Optionee”) on the cover sheet that
is attached hereto and hereby made a part hereof (“Cover Sheet”) is an officer and key employee of
National City Corporation (hereinunder called the “Corporation”) or of a Subsidiary; and

          WHEREAS, the execution of an Option Agreement in the form hereof has been duly authorized by a
resolution of the Compensation and Organization Committee (hereinafter called the “Committee”) of
the Board of Directors of the Corporation (hereinafter called the “Board”) duly adopted on the date
listed on the Cover Sheet as “Grant Date”;

          NOW, THEREFORE, the Corporation hereby grants to the Optionee, pursuant to the National City
Corporation Long-Term Cash and Equity Incentive Plan, Effective
January 1, 2005 (hereinafter called
the “Plan”) an Option (hereinafter called the “Option”) to purchase the number of shares of its
common stock, par value $4.00 per share (“Common Stock”), listed on the Cover Sheet as “Shares
Granted” at the per share exercise price set forth on the Cover Sheet as the “Option Price” and
agrees to cause certificates for any shares purchased hereunder to be delivered to the Optionee
upon receipt of payment of the Option Price, all subject, however, to the terms and conditions of
the Plan and as hereafter set forth.

          1. (a) The Option (until terminated as hereinafter provided) shall be exercisable only to the
extent of [insert vesting schedule] ; provided, however, that the Option (until terminated as hereinafter
provided) shall become immediately fully exercisable upon the occurrence of any of the following:

          (i) in the event of a Change in Control;

          (ii) the Optionee ceases to be an employee of the Employers by reason of the Optionee’s death
or retirement at or after the age of 62 with 20 or more years of
service or retirement at or
after the age of 65 with 5 or more years of service [or retirement with the Committee’s approval
at or after the age 55 with 20 years of service]; or

          (iii) the Optionee ceases to be an employee of the Employers by reason of action initiated by
the Employers other than a termination for Cause (as hereinafter defined) and where the Optionee
has executed a release, releasing the Employers from any liability associated with or arising out
of Optionee’s employment or termination of employment (“Negotiated Termination”).

          (b) To the extent exercisable, the Option may be exercised in whole or in part from time to
time, so long as the number of shares exercised satisfies a minimum that the Corporation may
establish from time to time.

          (c) For the purposes of this Option Agreement “Cause” means that, prior to any termination,
the Optionee shall have committed:

          (i) an intentional act of fraud, embezzlement or theft in connection with his duties or in
the course of his employment with the Employers;

          (ii) an intentional wrongful damage to property of Employers; or

          (iii) an intentional wrongful disclosure of secret processes or Confidential Information of
any of the Employers, as hereinafter defined.

          (d) For purposes of this Option Agreement, no act or failure to act on the part of the
Optionee shall be deemed “intentional” if it was due primarily to an error in judgment or
negligence, but shall be deemed “intentional” only if done or omitted to be done by the Optionee
not in good faith and without reasonable belief that his action or omission was in the best
interest of the Employers.

          2. The Option shall terminate on the earliest of the following dates:

          (a) three years after the death of the Optionee;

          (b) ten years from the Grant Date, if the Option is exercisable under any of the provisions of
Section 1 hereof at the time the Optionee ceases to be an employee of the Employers by reason of
retirement at or after the age of 55 with 10 or more years of service or after the age of 65 with 5
or more years of service;

          (c) immediately, upon the termination of employment of the Optionee with the Employers for any
reason other than death as set forth in Subsection 2(a), retirement as set forth in Subsection 2(b)
or a Negotiated Termination as set forth in Subsection 2(d), if such termination arises prior to a
Change in Control;

          (d) [insert time period from termination] from the termination of employment of the Optionee with the Employers by
reason of a Negotiated Termination if (i) Subsection 2(b) is not applicable and (ii) the
termination of employment occurs prior to a Change in Control;

          (e) twelve months from the termination of employment of the Optionee with the Employer
following a Change in Control if Subsection 2(b) is not applicable;

          (f) ten years from the Grant Date; or

          (g) in the event the Optionee shall intentionally commit an act materially inimical to the

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NCC STOCK OPTION AGREEMENT

Non-Incentive Stock Option 2004 LTCE Plan

interests of the Employers, and the Committee shall so find, the Option shall terminate at the time
of such act, notwithstanding any other provision of this Option Agreement.

          3. Nothing contained in this Option Agreement shall confer upon the Optionee any right to
continued employment with the Employers, nor shall it interfere in any way with the right of the
Employers to terminate the employment of the Optionee at any time, with or without Cause.

          4. The Option is not transferable by the Optionee otherwise than by will or the laws of
descent and distribution, and is exercisable during the lifetime of the Optionee only by the
Optionee or by the Optionee’s guardian or legal representative.

          5. (a) In connection with each exercise of the Option, arrangements satisfactory to the
Corporation shall be made by the Optionee for the payment of any withholdings required by federal,
state, local, or foreign income tax laws.

          (b) Subject to the restrictions set forth below, the Optionee is hereby granted the right to
elect to satisfy, in whole or in part, the Optionee’s withholding obligations as required by
federal, state, local, or foreign income tax laws by (i) having the Corporation withhold shares of
Common Stock subject to the Option having a value equal to or less than the minimum applicable
amounts required to be withheld and/or (ii) delivering to the Corporation shares of Common Stock
owned by the Optionee having a value equal to or less than the minimum applicable amounts required
to be withheld (the “Election”). For purposes of this Subsection 5(b), the value of shares of
Common Stock to be withheld or delivered by the Optionee shall be based upon the Market Value per
Share on the date that the amount of the tax or taxes to be withheld is determined. Shares of
Common Stock withheld pursuant to clause 5(b)(i) will not thereafter be available for exercise
under the Option.

          (c) To exercise the Election, the Optionee (i) must make the Election to have shares withheld
or to deliver already owned shares on the date that the Optionee exercises the Option and (ii) must
make the Election in writing on a form provided by the Corporation. The Election is irrevocable by
the Optionee and is subject to disapproval by the Committee. Additionally, if the Optionee is
subject to Section 16(b) of the Securities Act of 1934, as amended (the “Exchange Act”), the
Election is subject to compliance with Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

          6. The Option Price shall be payable:

          (a) in cash or by check acceptable to the Corporation;

          (b) by exchanging previously acquired shares of Common Stock of equivalent Market Value on the
date of exercise, with a value equal to the total Option Price for the portion of the Option
exercised; or

          (c) by a combination of (a) and (b).

          7. The Committee may make such adjustments in the number and kind of shares subject to the
Option and the price per share as the Committee in its sole discretion, exercised in good faith,
may determine is equitably required to prevent dilution or enlargement of the rights of the
Optionee that otherwise would result from any stock dividend, stock split, combination of shares,
recapitalization or other change in the capital structure of the Corporation, merger,
consolidation, spin-off, reorganization, partial or complete liquidation, issuance of rights or
warrants to purchase securities, or any other corporate transaction or event having an effect
similar to any of the foregoing. No adjustment provided for in this Section shall require the
Employers to sell a fractional share.

          8. Optionee acknowledges and agrees that in the performance of his duties of employment with
the Employers he may be in contact with customers, potential customers and/or information about
customers or potential customers of the Employers either in person, through the mails, by telephone
or by other electronic means. Optionee also acknowledges and agrees that trade secrets and
Confidential Information of the Employers, as defined in Subsection 8(c) of this Option Agreement,
gained by Optionee during his employment with the Employers, have been developed by the Employers
through substantial expenditures of time, effort and financial resources and constitute valuable
and unique property of the Employers. Optionee further understands, acknowledges and agrees that
the foregoing makes it necessary for the protection of the Employers’ businesses that Optionee not
divert business or customers from the Employers and that the Optionee maintain the confidentiality
and integrity of the Confidential Information as hereinafter defined:

          (a) Optionee agrees that he will not, during his employment by the Employers and for a
period of one year after such employment ends, no matter how terminated (the “Business
Protection Period”):

     (i) directly or indirectly solicit, divert, entice or take away any customers, clients,
businesses, patronage or orders from any customers, clients or businesses with whom the
Optionee has had contact, involvement or responsibility during Optionee’s employment with
the Employers, or attempt to do so, on behalf of any person ( including Optionee), firm,
association, or corporation for the sale of any product or service that is the same, similar
to, or a substitute for, any product or service offered by the Employers,

     (ii) directly or indirectly solicit, divert, entice or take away any potential customer
identified, selected or targeted by the Employers with whom the Optionee has had contact,
involvement or responsibility during Optionee’s employment with the Employers, or attempt to
do so, for the sale of any product or service that
is the same, similar to, or a substitute for, any product or service offered by the
Employers, or

     (iii) accept or provide assistance in the accepting of (including, but not limited to,
providing any service, information, assistance or other facilitation or other involvement)
business, patronage or orders from customers or any potential customers of the Employers
with whom

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NCC STOCK OPTION AGREEMENT

Non-Incentive Stock Option 2004 LTCE Plan

Optionee has had contact, involvement or responsibility on behalf of any person (
including Optionee), firm, association, or corporation.

Nothing contained in this Subsection 8(a) shall preclude Optionee from accepting employment with
a company, firm, or business that competes with the Employers so long as the Optionee’s
activities do not violate the provisions of clauses 8(a)(i), 8(a)(ii) or 8(a)(iii) above or any
of the provisions of Subsections 8(b) and 8(c) below.

     (b) Optionee agrees that he will not directly or indirectly at any time during or after the
term of this Option Agreement solicit, induce, confer or discuss with any employee of the
Employers or attempt to solicit, induce, confer or discuss with any employee of the Employers
the prospect of leaving the employ of the Employers, termination of his or her employment with
the Employers, or the subject of employment by some other person or organization. Optionee
further agrees that he will not directly or indirectly at any time during or after the term of
this Option Agreement hire or attempt to hire any employee of the Employers.

     (c) Optionee will keep in strict confidence, and will not, directly or indirectly, at any
time during or after the term of this Option Agreement, disclose, furnish, disseminate, make
available or use (except in the course of performing his duties of employment with the
Employers) any trade secrets or confidential business or technical information of the Employers
or their customers (the “Confidential Information”), without limitation as to when or how
Optionee may have acquired such information. The Confidential Information shall include the
whole or any portion or phase of any scientific or technical information, design, process,
procedure, formula, pattern, compilation, program, device, method, technique or improvement, or
any business information or plans, financial information, or listing of names, addresses or
telephone numbers, including without limitation, information relating to the Employers’
customers or prospective customers, the Employers’ customer lists, contract information
including terms, pricing and services provided, information received as a result of customer
contacts, the Employers’ products and processing capabilities, methods of operation, business
plans, financials or strategy, and agreements to which the Employers may be a party. The
Confidential Information shall not include information that is or becomes publicly available
other than as a result of disclosure by the Optionee. Optionee specifically acknowledges that
the Confidential Information, whether reduced to writing or maintained in the mind or memory of
Optionee and whether compiled by the Employers and/or Optionee, derives independent economic
value from not being readily known to or ascertainable by proper means by others who can obtain
economic value from its disclosure or use, that reasonable efforts have been put forth by the
Employers to maintain the secrecy of such information, that such information is the sole
property of the Employers and that any retention and use of such information during or after the
Optionee’s employment with the Employers (except in the course of performing his duties of
employment with the Employers) shall constitute a misappropriation of the Employers’ trade
secrets. Optionee further agrees that, at the time of termination of his employment he will
return to the Employers, in good condition, all property of the Employers, including, without
limitation, the Confidential Information. In the event that said items are not so returned, the
Employers shall have the right to charge Optionee for all reasonable damages, costs, attorney’s
fees and other expenses incurred in searching for, taking, removing, and/or recovering such
property. If the Optionee is requested or required (either verbally or in writing) to disclose
any Confidential Information, he shall promptly notify the Employers of this request and he
shall promptly provide the Employers with a copy of the written request or a description of any
verbal request so that the Employers may seek a protective order or other appropriate remedy.
If a protective order or other appropriate remedy is not obtained in a reasonable period of
time, the Optionee may furnish only that portion of the Confidential Information that he legally
required to disclose.

          9. During the Business Protection Period (and for any extended period as provided in Section
10 below) Optionee agrees to communicate the contents of this Option Agreement to any person, firm,
association, or corporation that Optionee intends to be employed by, associated with, or represent.

          10. If it shall be judicially determined that Optionee has violated any of his obligations
under Section 8 of this Option Agreement, then the period applicable to the obligation which he
shall have been determined to have violated shall automatically be extended by a period of time
equal in length to the period during which said violation(s) occurred.

          11. For purposes of this Option Agreement, the continuous employ of the Optionee with the
Employers shall not be deemed interrupted, and the Optionee shall not be deemed to have ceased to
be an employee of the Employers by reason of the transfer of his employment among the Employers.
Also a leave of absence approved by an Executive Officer for illness, military or governmental
service or other cause shall be considered as employment.

          12. Delivery by the Employers of a certificate or certificates for shares of Common Stock may
be deferred for such reasonable time after payment for
such shares as shall be necessary to conform to any applicable law or governmental regulation
relating to the Option or to the issuance or delivery of Common Stock on exercise hereof.

          13. Any contrary provision hereof notwithstanding, the Option shall not be exercisable by, and
the Corporation shall not be obligated to sell or deliver any Common Stock subject thereto, to a
resident of any country other than the United States of America and unless and until such Common
Stock and the sale thereof pursuant

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NCC STOCK OPTION AGREEMENT

Non-Incentive Stock Option 2004 LTCE Plan

to the Option has been registered or otherwise qualified under
applicable state and federal laws or regulations or confirmation of exemption from such state or
federal laws or regulations shall have been obtained and such registration or qualification or
exemption shall continue to be effective, all as the Corporation shall, in its sole discretion,
determine to be necessary or advisable. The Corporation shall use its reasonable best efforts to
maintain registration and applicable qualification of such Common Stock and the sale thereof with
the Securities and Exchange Commission and applicable state regulatory agencies; provided, however,
that the Corporation shall have no obligation to register or qualify such Common Stock under the
laws of any non-United States of America jurisdiction.

          14. All capitalized terms used but not defined in this Option Agreement shall have the
meanings ascribed to such terms as set forth in the Plan.

          15. Optionee acknowledges and agrees that the remedy at law available to the Employers for
breach of any of Optionee’s obligations under this Option Agreement would be inadequate, and agrees
and consents that in addition to any other rights or remedies that the Employers may have at law or
in equity, temporary and permanent injunctive relief may be granted in any proceeding that may be
brought to enforce any provision contained in Sections 8 through 10 of this Option Agreement,
without the necessity of proof of actual damage.

          16. If at any time during the Repayment Period (as hereinafter defined) the Optionee

          (a) violates any of the provisions contained in Sections 8 or 9 of this Option Agreement,
and/or

          (b) competes with the Employers within the continental United States (the “Restricted
Territory”),
then (i) the Option granted pursuant to this Option Agreement then outstanding to the Optionee
shall terminate immediately, and (ii) the Optionee shall be required to immediately reimburse the
Corporation in an amount equal to any gain realized by the Optionee (determined as of the exercise
date) with respect to the exercise of the Option, whether in whole or in part, within the Repayment
Period. The Optionee agrees that payment will be liquidated damages and is not to be construed in
any manner as a penalty. The “Repayment Period” shall mean a period commencing one year prior to
the Optionee’s last day of active employment by the Employers and ends (i) one year after the last
day of active employment of the Optionee with the Employers or (ii) if the Optionee receives any
severance benefits at the time of Optionee’s separation from active employment pursuant to any plan
or agreement with the Employers, then at the end of any Salary Continuation Period. For purposes
of this Section “Salary Continuation Period” means the period of time during which Optionee
receives a continuation of Optionee’s salary after Optionee’s last day of active employment or if
the Optionee receives a lump sum payment, the number of months following Optionee’s end of active
employment equal to the Optionee’s lump sum payment attributable to salary divided by the
Optionee’s then current monthly salary rounded up to the nearest whole number.

          Optionee and National City agree that the term “compete” or “competing” shall mean any
situation where the Optionee:

          (1) directly or indirectly, provides or is responsible for any products, services or support
with respect to any products, services or support that Optionee provided or was responsible for
providing, directly or indirectly, at any time during his last 3 years of employment with the
Employers or any of the Employers predecessors; and

          (2) (i) enters into, engages in, becomes an employee of, is retained as an independent
contractor for, or acquires an ownership interest of more than one percent (1%) of any business
that competes with any of Employers’ businesses in the Restricted Territory; or

          (ii) promotes or assists, financially or otherwise, any person, firm, association or
corporation engaged in any business that is the same as, similar to, or a substitute for, any
product or service offered by the Employers’ businesses.

          For the purposes of this Section, Optionee understands and agrees that he will be competing if
he engages in any or all of the activities set forth herein directly as an individual on his own
account, or indirectly, including, but not limited to, as a partner, member, manager, joint
venturer, employee, agent, independent contractor, salesman, consultant, officer and/or director of
any firm, corporation, partnership or company that engages in any or all of the activities set
forth in this Section, or as a equity holder of any entity or corporation that engages in any or
all of the activities set forth in this Section in which Optionee, his spouse, or parent
beneficially owns, directly or indirectly, individually or in the aggregate, more than one percent
(1%) of the outstanding equity.

          This Section 16 shall be inapplicable to the Optionee upon a Change in Control.

          17. While the restrictions set forth herein are considered by the parties to be reasonable in
all circumstances, it is recognized that restrictions may fail for reasons unforeseen, and
accordingly it is hereby agreed and declared that if any restrictions shall be adjudged to be void
as going beyond what is reasonable in all the circumstances, but would be valid if the geographical
area or temporal extent were reduced in part, or the range of activities or area dealt with thereby
reduced in scope, such restriction shall apply with such modification as may be necessary to make
it valid and effective.

          18. Optionee acknowledges that Optionee’s obligations under this Option Agreement are
reasonable in the context of the nature of the Employers’ businesses and that competitive injuries
likely to be sustained by the Employers if Optionee violated such obligations. Optionee further
acknowledges that this Option Agreement is made in consideration of, and is adequately supported by
the stock option award, which Optionee acknowledges constitutes new and good, valuable and
sufficient consideration.

          19. The failure of Employers to enforce any provision of this Option Agreement shall not be
construed to be a waiver of such provision or of the right of the Employers thereafter to enforce
each and every provision.

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NCC STOCK OPTION AGREEMENT

Non-Incentive Stock Option 2004 LTCE Plan

          20. All provisions, terms, conditions, Sections, Subsections, agreements and covenants
(“Provisions”) contained in this Option Agreement are severable and, in the event any one of them
shall be held to be invalid, this Option Agreement shall be interpreted as if such Provision was
not contained herein, and such determination shall not otherwise affect the validity of any other
Provision.

          21. It is the Optionee’s responsibility to execute this Option Agreement (the “Executed
Agreement”) and deliver the Executed Agreement to the Corporate Human Resources Department at the
address listed on the Cover Sheet. If the Executed Agreement is not received by the Corporate
Human Resources Department within 90 days after the Grant Date, the grant of the Option Rights
covered by this Option Agreement will terminate and this Option Agreement will be null and void.

          22. Sections 8 through 10, 15 through 20, 23 and 24, as well as this Section, shall survive
the termination of this Option Agreement.

          23. The Optionee agrees that any action, claim, counterclaim, cross claim, proceeding, or
suit, whether at law or in equity, whether sounding in tort, contract, or otherwise, at any time
arising under or in connection with this Option Agreement, the administration, enforcement, or
negotiation of this Option Agreement, or the performance of any obligations in respect of this
Option Agreement (each such action, claim, counterclaim, cross claim, proceeding, or suit, an
“Action”) shall be brought exclusively in a federal court or state court located in the city of
Cleveland, Ohio. Each of the parties hereby unconditionally submit to the jurisdiction of any such
court with respect to each such Action and hereby waive any objection each of the parties may now
or hereafter have to the venue of any such Action brought in any such court.

          24. This Option Agreement shall be construed in accordance with, and governed by the internal
substantive laws of, the State of Ohio.

Page 5EX-10.46

 

Exhibit 10.46

NATIONAL CITY CORPORATION

MANAGEMENT SEVERANCE PLAN

(As Amended and Restated Effective January 1, 2005)

ARTICLE 1

The Plan and its Purpose

1.1 Amendment and Restatement of Plan. The following are the provisions of the National
City Corporation Management Severance Plan (herein referred to as the “Plan”) effective as of
January 1, 2005, which is an amendment and restatement of the Plan which was in effect prior
thereto. The Plan as amended and restated herein is effective with respect to Participants whose
employment is terminated on or after the Effective Date.

1.2 Purpose. The purpose of the Plan is to maximize the Corporation’s profitability and
operating success by attracting and retaining key managerial, operational and executive employees
and allowing them to focus on their responsibilities in the event of, and following, a Change in
Control.

1.3 Operation of the Plan. The Plan shall serve as a non-qualified plan providing post
Change in Control benefits to Participants. The severance compensation provided by this Plan shall
be the sole severance compensation a Participant will be entitled to from the Surviving Entity as a
result of a Change in Control. Any Employee covered by this Plan shall not receive any other
severance benefit after a Change in Control from any other severance plan, policy or agreement.

ARTICLE 2

Definitions

2.1 Definitions. Whenever used herein the following terms shall have the meanings set
forth below unless otherwise expressly provided. When the defined meaning is intended, the term is
capitalized.

     (a) “Base Salary” shall mean the annual salary of each Participant at the Effective
Date or Implementation Date, whichever is higher, exclusive of any bonuses, incentive pay, special
awards, stock options or other stock compensation.

     (b) “Board” shall mean the board of directors of the Corporation.

     (c) “Cause” means the termination by the Surviving Entity of the Participant’s
employment with the Surviving Entity as a result of:

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     (i) the Participant committing an intentional act of fraud, embezzlement or
theft in connection with the Participant’s duties or in the course of the
Participant’s employment with the Surviving Entity and such act shall have been
materially harmful to the Surviving Entity;

     (ii) the Participant causing intentional wrongful damage to property of the
Surviving Entity and such damage shall have been materially harmful to the
Surviving Entity;

     (iii) the Participant committing an intentional wrongful disclosure of secret
processes or confidential information of the Surviving Entity and such disclosure
shall have been materially harmful to the Surviving Entity;

     (iv) the Participant intentionally engages in any Competitive Activity and
such act shall have been materially harmful to the Surviving Entity;

     (v) the Surviving Entity has been ordered or directed by a written order from
any federal or state regulatory agency with jurisdiction to terminate or suspend
the Participant’s employment and, notwithstanding the reasonable best efforts of
the Surviving Entity to oppose and to appeal the order or directive, that order or
directive has become a final non-appealable order; or

     (vi) the Participant being convicted of or entering into any pre-trial
diversion with respect to a criminal offense involving dishonesty, breach of trust,
money laundering or the illegal manufacture, sale, distribution of or trafficking
in controlled substances.

For purposes of this Agreement, no act or failure to act on the part of the Participant
shall be deemed “intentional” if it was due primarily to an error in judgment or
negligence, but shall be deemed “intentional” only if done or omitted to be done by
the Participant not in good faith and without reasonable belief that the Participant’s
action or omission was in the best interest of the Surviving Entity. Notwithstanding the
foregoing, the Participant shall not be deemed to have been terminated for “Cause”
hereunder unless and until there shall have been delivered to the Participant a notice
stating the Participant had committed an act constituting “Cause” as herein defined and
specifying the particulars thereof in detail. Nothing herein will limit the right of the
Participant or the Participant’s beneficiaries to contest the validity or propriety of any
such determination.

(d) “Change in Control” means the occurrence during the Term of any of the
following events:

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     (i) the Corporation is merged, consolidated or reorganized into or with
another Person, and immediately after giving effect to such merger, consolidation
or reorganization less than sixty-five percent (65%) of the Surviving Entity’s
Voting Stock is held in the aggregate by the holders of the Corporation Voting
Stock immediately prior to such transaction;

     (ii) the Corporation sells or otherwise transfers all or substantially all of
its assets to another Person, and as a result of such sale or transfer less than
sixty-five percent of the Surviving Entity Voting Stock immediately after such sale
or transfer is held in the aggregate by the holders of the Corporation Voting Stock
immediately prior to such sale or transfer;

     (iii) any individual, entity or group (within the meaning of Section 13(d)(3)
or Section 14(d)(2) of the Exchange Act) becomes the beneficial owner (as the term
“beneficial owner” is defined under Rule 13d-3 or any successor rule or regulation
promulgated under the Exchange Act) of securities representing more than fifteen
percent (15%) of the Corporation Voting Stock provided, however,
that:

	 	(1)	 	for purposes of this Section 1(d)(iii), the
following acquisitions shall not constitute a Change in Control: (A)
any acquisition of the Corporation Voting Stock directly from the
Corporation that is approved by a majority of the Incumbent
Corporation Directors (defined below), (B) any acquisition of the
Corporation Voting Stock by the Corporation, and (C) any acquisition
of the Corporation Voting Stock by a trustee or other fiduciary
holding securities under any employee benefit plan (or related trust)
sponsored or maintained by the Corporation or any Subsidiary of the
Corporation;
	 
	 	(2)	 	if any Person is or becomes the beneficial
owner of 15% or more of the combined voting power of the
then-outstanding Corporation Voting Stock as a result of a
transaction described in clause (A) of Section 1(d)(iii)(1) above and
such person thereafter becomes the beneficial owner of any additional
shares of the Corporation Voting Stock representing 1% or more of the
then-outstanding the Corporation Voting Stock, other than in an
acquisition directly from the Corporation that is approved by a
majority of the Incumbent Corporation Directors or other than as a
result of a stock dividend, stock split or similar

3

 

	 	 	 	transaction
effected by the Corporation in which all holders of the Corporation
Voting Stock are treated equally, such
subsequent acquisition shall be treated as a Change in Control
unless exempted by Section 1(d)(iii)(4) below;
	 
	 	(3)	 	a Change in Control will not be deemed to
have occurred if a Person is or becomes the beneficial owner of 15%
or more of the Corporation Voting Stock as a result of a reduction in
the number of shares of the Corporation Voting Stock outstanding
pursuant to a transaction or series of transactions that is approved
by a majority of the Incumbent Corporation Directors unless and until
such person thereafter becomes the beneficial owner of any additional
shares of the Corporation Voting Stock representing 1% or more of the
then-outstanding Corporation Voting Stock, other than as a result of
a stock dividend, stock split or similar transaction effected by the
Corporation in which all holders of the Corporation Voting Stock are
treated equally; and
	 
	 	(4)	 	if within 45 days of first learning a
Person has acquired or is to acquire beneficial ownership of 15% or
more of the Corporation Voting Stock the Board by majority vote of
the Incumbent Corporation Directors (i) determines that a Person’s
acquisition of beneficial ownership of 15% or more of the Corporation
Voting Stock does not constitute a Change in Control and (ii)
establishes a limit (such limit to be less than 50% of the
Corporation Voting Stock) as to the maximum number of shares such
Person may acquire before a Change in Control shall be deemed to have
occurred, then no Change in Control shall have occurred as a result
of such Person’s applicable acquisition(s);

     (iv) if, during any period of two consecutive years, individuals who at the
beginning of any such period constitute the Corporation Directors (the
“Incumbent Corporation Directors”) cease for any reason to constitute at
least a majority of the Surviving Entity Board, as the case may be;
provided, however, that for purposes of this Section 1(d)(iv) each
Director who is first elected, or first nominated for election by the Corporation’s
stockholders, by a vote of at least two-thirds of the Incumbent Corporation
Directors (or a committee thereof) then still in office who were the Corporation
Directors at the beginning of any such period will be deemed to have been a
Corporation Director at the beginning of such period; or

4

 

     (v) approval by the stockholders of the Corporation of a complete liquidation
or dissolution of the Corporation.

Notwithstanding the foregoing provisions of Section 1(d)(i), 1(d)(ii) or 1(d)(iv), in the
case where the individuals who constitute the Incumbent Directors at the time a specific
transaction described in Section 1(d)(i) or 1(d)(ii) is first presented or disclosed to the
Board, will, by the terms of the definitive agreement for that transaction, constitute at
least fifty percent (50%) of the Surviving Entity Directors immediately following
consummation of such transaction, provided that such Surviving Entity Directors are not
subject to removal following the consummation of the transaction as a result of the terms
and conditions of the transaction, then, prior to the occurrence of any event that would
otherwise constitute a Change in Control under Section 1(d)(i), 1(d)(ii) or 1(d)(iv), the
Board may determine by majority vote of the Incumbent Directors that the specific
transaction does not constitute a Change in Control under Sections 1(d)(i), 1(d)(ii) and/or
1(d)(iv).

     (e) “Committee” shall mean the Compensation and Organization Committee of the Board or
another committee appointed by the Board to serve as the administering committee of the Plan.

     (f) “Competitive Activity” means the Participant’s participation, without the written
consent of an officer of the Surviving Entity, in the management of any business enterprise if such
enterprise engages in substantial and direct competition with the Surviving Entity and such
enterprise’s revenues derived from any product or service competitive with any and all products or
services of the Surviving Entity amounted to ten percent (10%) or more of such enterprise’s
revenues for its most recently completely fiscal year and if the Surviving Entity’s revenues from
said product or service amount to ten percent 10% of the Surviving Entity’s revenues for its most
recently completed fiscal year. “Competitive Activity” will not include (i) the mere ownership of
securities in any such enterprise and the exercise of rights appurtenant thereto and (ii)
participation in the management of any such enterprise other than in connection with the
competitive operations of such enterprise.

     (g) “Continuation Period” means the period of time beginning on the Termination Date
and continuing until the first anniversary of the Termination Date.

     (h) “Corporation” shall mean National City Corporation, a Delaware corporation.

     (i) “Effective Date”. In the event a Change in Control ultimately results from
discussions or negotiations involving the Corporation or any of its officers or directors, the
“Effective Date” of such Change in Control shall be the date uninterrupted discussions or
negotiations commenced.

5

 

     (j) “Employee” shall mean an individual employed by the Corporation or any of its
Subsidiaries on a full time, part time or salaried basis as of the Effective Date or the
Implementation Date. The term “Employee” shall not, however, include any person who
has been notified in writing prior to the Effective Date that his job is being eliminated or
that his employment is going to be terminated.

     (k) “Employee Benefits” means the benefits and service credit for a benefit as
provided under any and all employee retirement income and welfare benefit policies, plans, programs
or arrangements in which the Participant is entitled to participate, including without limitation
any stock option, stock purchase, stock appreciation, savings, pension, supplemental executive
retirement, or other retirement income or welfare benefit, deferred compensation, incentive
compensation, group or other life, health, medical/hospital or other insurance (whether funded by
actual insurance or self-insured by the Corporation) disability, expense reimbursement and other
employee benefit policies, plans, programs or arrangements in place at the Implementation Date.
Employee Benefits shall not include any (i) severance plan, policy or benefits other than those
benefits specifically provided by this Plan or (ii) any perquisites such as county club memberships
or car allowances. Those persons receiving financial counseling prior to the Change in Control
shall continue to receive financial counseling services during the Protection Period.

     (l) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     (m) “Implementation Date” shall be the earliest to occur of the events specified in
Section 2.1(d).

     (n) “Incentive Pay” means an amount equal to the sum of (a) the higher of (i) the
highest aggregate annual incentive payment (excluding income realized from the exercise of stock
options, any benefits received from being granted stock options or shares of restricted stock,
income realized from the sale of restricted stock and any profit sharing, matching contributions or
discretionary contributions made under any savings plan but including, without limitation, awards
pursuant to the Management Incentive Plan) awarded for either of the two calendar years immediately
preceding the year in which the Effective Date occurs or (ii) the target award for the individual
for the year in which the Effective Date occurs and (b) the higher of (i) the highest incentive
payment awarded pursuant to the Long Term Plans for either of the plan cycles ending in the two
calendar years immediately preceding the year in which the Effective Date occurs or (ii) the target
award for the individual pursuant to the Long Term Plans for the plan cycle ending in the calendar
year in which the Effective Date occurs. For purposes of this Paragraph 2.1(o), “payment” includes
moneys paid as well as any portion of any award deferred.

     (o) “Incumbent Corporation Directors” see Section 1(d)(iv).

6

 

     (p) “Long Term Plans” means the National City Corporation Long-Term Cash and Equity
Incentive Plan and any predecessor or successor plans to this plan.

     (q) “Management Incentive Plan” means the National City Corporation Management
Incentive Plan for Senior Officers, and any predecessor or successor plans to this plan.

     (r) “Participant” shall mean an Employee whose job is assigned to a grade level within
the range of grade level 1 through grade level 7 pursuant to the Corporation’s system for grading
jobs, excluding those Employees who are covered by an employment agreement, severance agreement, or
other specialized plan at the earlier of the (i) time of termination or the Implementation Date
that address severance benefits.

     (s) “Person” means any governmental authority, individual, partnership, firm,
corporation, limited liability company, association, trust, unincorporated organization or other
entity, as well as any syndicate or group that would be deemed to be a person under Section
13(d)(3) or Section 14(d)(2) of the Exchange Act.

     (t) “Plan” see Section 1.1

     (u) “Protection Period” means the period of time commencing on the Effective Date and
continuing through to the fifteenth month anniversary of the Implementation Date.

     (v) “Separation from Service” shall have the meaning set forth in Section 409A of the
Code.

     (w) “Specified Employee” shall mean any Participant who is a “specified employee,” as
defined in Section 409A of the Internal Revenue Code and the lawful Treasury Regulations
promulgated thereunder.

     (x) “Subsidiary” means an entity in which the Corporation directly or indirectly
beneficially owns 50% or more of the voting equity securities, but for purposes of this Plan shall
not include National Processing, Inc. or any of its subsidiaries.

     (y) “Surviving Entity” (i) prior to a Change in Control means the Company and (ii)
after a Change in Control means the Company or any other Person surviving or resulting from any
Change in Control involving the Company, whether direct or indirect, by purchase, merger,
consolidation, reorganization or otherwise. The Surviving Entity shall include any or all of its
Subsidiaries.

     (z) “Termination Date” means the date the Participant’s active employment is
terminated with the Surviving Entity

7

 

     (aa) “Voting Stock” shall mean then outstanding securities of a company entitled to
vote generally in the election of directors.

ARTICLE 3

Termination Following a Change in Control

3.1 In the event the Surviving Entity terminates the Participant’s employment during the Protection
Period, the Participant will be entitled to the severance compensation provided by Article 4;
provided, however, that the Participant shall not be entitled to the severance
compensation provided by Article 4 hereof only upon the occurrence of one or more of the following
events:

     (a) the Participant’s death occurring prior to termination of his/her employment;

     (b) prior to the termination of his/her employment, the Participant becomes permanently
disabled within the meaning of the long-term disability plan in effect for, or applicable to, the
Participant; or

     (c) Cause.

3.2 The Participant may terminate employment with the Surviving Entity during the Protection Period
with the right to severance benefits as provided in Article 4 upon the occurrence of one or more of
the following events (regardless of whether any other reason for such termination exists or has
occurred, including without limitation other employment):

     (a) A significant adverse change in the nature or scope of the authority, powers, functions,
responsibilities or duties attached to the position with the Surviving Entity that the Participant
held immediately prior to the Effective Date;

     (b) A change in compensation reasonably likely to yield a reduction in the aggregate of the
Participant’s Base Salary and incentive pay received from the Surviving Entity;

     (c) A reduction in the Participant’s Base Salary;

     (d) The termination, suspension, or denial of the Participant’s rights to Employee Benefits or
a material reduction in the aggregate value thereof, which situation is not remedied within 30
calendar days after written notice to the Corporation from the Participant;

     (e) A determination by the Participant (which determination will be conclusive and binding
upon the parties hereto provided it has been made in good faith

8

 

and in all events will be presumed
to have been made in good faith unless otherwise shown by the Corporation by clear and convincing
evidence) that a change in circumstances has occurred following a Change in Control, including,
without limitation, a change in the scope of the business or other activities for which the
Participant was responsible
immediately prior to the Change in Control, which has rendered the Participant substantially unable
to carry out, has substantially hindered Participant’s performance of, or has caused Participant to
suffer a substantial reduction in, any of the authorities, powers, functions, responsibilities or
duties attached to the position held by the Participant immediately prior to the Effective Date,
which situation is not remedied within 10 calendar days after written notice to the Corporation
from the Participant of such determination;

     (f) The liquidation, dissolution, merger, consolidation or reorganization of the Surviving
Entity by which Participant is employed where the surviving entity is not an affiliate of National
City Corporation or transfer of all or substantially all of its business and/or assets to an entity
that is not an affiliate of National City Corporation; or

     (g) The Surviving Entity of the Participant requires the Participant to have his principal
location of work changed, to any location which is in excess of 50 miles from the location thereof
immediately prior to the Change in Control, or requires the Participant to travel away from his
office in the course of discharging his responsibilities or duties hereunder more than the greater
of forty-eight additional days per year or 20% more (in terms of aggregate days in any calendar
year or in any calendar quarter when annualized for purposes of comparison) than was required of
Participant in any of the three full years immediately prior to the Change in Control without, in
either case, his prior written consent.

3.3 A termination by the Surviving Entity pursuant to Section 3.1 or by the Participant pursuant to
Section 3.2 will not affect any rights which the Participant may have pursuant to any agreement,
policy, plan, program or arrangement of the Surviving Entity providing Employee Benefits, which
rights shall be governed by the terms thereof.

ARTICLE 4

Severance Compensation

4.1 If the Surviving Entity terminates the Participant’s employment during the Protection Period
other than pursuant to Section 3.1(a), 3.1(b) or 3.1(c), or if the Participant terminates his
employment pursuant to Section 3.2, the Surviving Entity will pay to the Participant the following
amounts after the Termination Date:

     (a) During the Continuation Period, semi-monthly payments of an amount equal to the quotient
produced by adding Base Salary and Incentive Pay divided by twenty-four.

9

 

     (b) In lieu of any Employee Benefits, a lump sum payment equal to the product of the Base
Salary multiplied by .25.

4.2. Notwithstanding anything in Section 4.1 to the contrary, a Participant shall not be entitled
to any the payments set forth in Section 4.1 above until the Participant has
executed and delivered to the Surviving Entity a Release and Waiver Agreement, being substantially
in the form of Exhibit A attached hereto with the blanks appropriately completed, and until any
period for cancellation of the Release and Waiver Agreement has expired. If the Participant fails
to execute and deliver the above referenced Release and Waiver Agreement within 120 days of
Participant’s Termination Date, any and all rights Participant has to the payments set forth in
Section 4.1 will terminate.

4.3 Notwithstanding anything in Section 4.1 to the contrary, for any Participant who is a Specified
Employee, any severance payment which would have otherwise been paid to such Participant under
Section 4.1 shall be delayed until such a date which is six (6) months following his Separation
from Service. The determination of the Surviving Entity’s Specified Employees shall be made as of
each December 31st (the “identification date”) and shall be applicable for the 12-month
period commencing April 1st following that identification date. In the event that any
payment or payments under this Plan are delayed as a result of the application of this Section 4.3,
such delayed payments shall be credited with interest at the rate equal to the yield on the United
States Treasury 6-month Treasury Bill determined as of the Participant’s Termination Date.

4.4 There will be no right of set-off or counterclaim in respect of any claim, debt or obligation
against any payment to or benefit for the Participant provided for in this Plan, except as
expressly provided in the last sentence of Section 4.1(b).

4.5 Without limiting the rights of the Participant at law or in equity, if the Surviving Entity
fails to make any payment or provide any benefit required to be made or provided under the Plan on
a timely basis, the Surviving Entity will pay interest on the amount or value thereof at the rate
equal to the yield on the United States Treasury 6-month Treasury Bill. Such interest will be
payable as it accrues on demand. Any change in such Treasury Bill rate will be effective on and as
of the date of such change.

ARTICLE 5

Claims Procedures

5.1 If after a Change in Control, the Surviving Entity fails to pay any of the severance
compensation identified in Article 4 of this Plan, a Participant may make a claim for severance
benefits under this Plan by submitting a written request to the Committee on the form supplied for
this purpose.

5.2 The Committee or its designee(s) will review the claim and either approve the severance

10

 

compensation identified in Article 4 of this Plan or provide notice that the claim has been denied.
The Committee or its designee(s) will review each claim within 90 days of the Committee’s receipt
of such claim. The Committee or its designee(s) shall notify the Participant in writing of any
claims or portions of claims that have been denied within 30 days of the Committee’s determination.
If a notice of denial is not received by a Participant within the lesser of (a) 120 days of the
Committee’s receipt of the claim or (b)
within 30 days of the Committee’s or its designee(s)’s making its determination with respect to the
Participant’s claim, the claim shall be deemed to have been approved.

5.3 If a claim or a portion of a claim is denied, the Committee’s or its designee(s)’s notice of
denial shall include:

     (a) reason or reasons for the denial,

     (b) specific reference to documents, if any, that outline the reason for the
denial , and

     (c) an explanation of the claim review process.

5.4 A Participant may appeal the Committee’s or its designee(s)’s determination made pursuant to
Section 5.2 above by providing notice of appeal to the Committee within 60 days of receiving the
claim denial notice described in Section 5.3 of this Plan. This appeal should include all
information and documentation that supports the claim.

5.5 The Committee shall review the appeal within 90 days of its receipt of the notice of appeal.
The Committee shall give notice to the Participant within 30 days of its final review of the appeal
of its determination. The notice shall set forth the results of the appeal and the reasons for
such determination.

5.6 It is the intent of the Corporation that the Participants not be required to incur legal fees
and the related expenses associated with the interpretation, enforcement or defense of
Participants’ rights under this Plan by litigation or otherwise because the cost and expense
thereof would substantially detract from the benefits intended to be extended to the
Participant(s). Accordingly, if it should appear to the Participant(s) that the Surviving Entity
has failed to comply with any of its obligations under this Plan or in the event that the Surviving
Entity or any other person takes or threatens to take any action or proceeding designed to deny, or
to recover from, any or all Participants the benefits provided or intended to be provided to the
Participant(s) hereunder, the Participant(s) may from time to time retain counsel of
Participant(s)’s choice. If the Participant(s) prevails, in whole or part, in connection with any
of the foregoing, the Surviving Entity will pay and be solely financially responsible for any and
all reasonable attorneys’ and related fees and expenses incurred by the Participant(s) in
connection with the foregoing

ARTICLE 6

No Mitigation Obligation

     The Corporation hereby acknowledges that it may be difficult or impossible (a) for a
Participant to find reasonably comparable employment following the Termination Date, and (b) to
measure the amount of damages which Participant may

11

 

suffer as a result of termination of
employment. In addition, the Corporation acknowledges that its severance pay plans applicable in
general to its salaried employees do not provide for mitigation, offset or reduction of any
severance payment received thereunder. Accordingly, the payment of the severance compensation by
the Surviving Entity to the Participant in accordance with the terms of this Plan is hereby
acknowledged by the Surviving Entity to
be reasonable and will be liquidated damages, and the Participant will not be required to mitigate
the amount of any payment provided for in this Plan by seeking other employment or otherwise, nor
will any profits, income, earnings or other benefits from any source whatsoever create any
mitigation, offset, reduction or any other obligation on the part of the Participant hereunder or
otherwise.

ARTICLE 7

Employment Rights

     Nothing expressed or implied in this Plan will create any right or duty on the part of the
Surviving Entity or the Participant to have the Participant remain in the employment of the
Surviving Entity or any Subsidiary prior to or following any Change in Control.

ARTICLE 8

Withholding of Taxes

     The Surviving Entity may withhold from any amounts payable under this Plan all federal, state,
city or other taxes as the Surviving Entity is required to withhold pursuant to any law or
government regulation or ruling.

ARTICLE 9

Successors and Binding Plan

     This Plan shall be binding upon and inure to the benefit of the Corporation, its successors
and assigns and each Participant and his or her beneficiaries, heirs, executors, administrators and
legal representatives. The Corporation will require any successor (whether direct or indirect, by
purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the
business or assets of the Corporation to assume and agree to perform under this Plan in the same
manner and to the same extent the Corporation would be required to perform if no such succession
had taken place. This Plan will be binding upon the Corporation and any successor to the
Corporation, including without limitation any persons acquiring directly or indirectly all or
substantially all of the business or assets of the Corporation whether by purchase, merger,
consolidation, reorganization or otherwise (and such successor shall thereafter be deemed the
“Corporation” and the “Surviving Entity” for the purposes of this Plan), but will not otherwise be
assignable, transferable or delegable by the Corporation.

12

 

ARTICLE 10

Restrictions on Assignment

     The interest of a Participant or his or her beneficiary may not be sold, transferred,
assigned, or encumbered in any manner, either voluntarily or involuntarily, and any
attempt to so anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge the same
shall be null and void; neither shall the benefits hereunder be liable for or subject to the debts,
contracts, liabilities, engagements, or torts of any person to whom such benefits or funds are
payable, nor shall they be subject to garnishment, attachment, or other legal or equitable process
nor shall they be an asset in bankruptcy.

ARTICLE 11

Notices

     For all purposes of this Plan, all communications, including without limitation notices,
consents, requests or approvals, required or permitted to be given hereunder will be in writing and
will be deemed to have been duly given when hand delivered or dispatched by electronic facsimile
transmission (with receipt thereof orally confirmed), or five business days after having been
mailed by United States registered or certified mail, return receipt requested, postage prepaid, or
three business days after having been sent by a nationally recognized overnight courier service
such as Federal Express, UPS, or Purolator, addressed to the Surviving Entity (to the attention of
the Secretary of the Surviving Entity) at its principal Participant office and to the Participant
at his principal residence, or to such other address as any party may have furnished to the other
in writing and in accordance herewith, except that notices of changes of address shall be effective
only upon receipt.

ARTICLE 12

Governing Law

     The validity, interpretation, construction and performance of this Plan will be governed by
and construed in accordance with the substantive laws of the State of Delaware, without giving
effect to the principles of conflict of laws of such State.

ARTICLE 13

Validity

     If any provision of this Plan or the application of any provision hereof to any person or
circumstances is held invalid, unenforceable or otherwise illegal, the remainder of this Plan and
the application of such provision to any other person or circumstances will not be affected, and
the provision so held to be invalid, unenforceable or otherwise

13

 

illegal will be reformed to the
extent (and only to the extent) necessary to make it enforceable, valid or legal.

ARTICLE 14

Administration

     Except as herein provided, this Plan shall be administered by the Committee. The Committee
shall have full power and authority to interpret, construe and administer this Plan and its
interpretations and construction hereof, and actions hereunder, including the timing, form, amount
or recipient of any payment to be made hereunder, shall be binding and conclusive on all persons
for all purposes.

     The Committee may name assistants who may be, but need not be, members of the Committee. Such
assistants shall serve at the pleasure of the Committee, and shall perform such functions as are
provided for herein and such other functions and/or responsibilities as be assigned or delegated
from time to time by the Committee.

     No member of the Committee or any assistant shall be liable to any person for any action taken
or omitted in connection with the interpretation and administration of this Plan unless
attributable to his or her own willful misconduct or lack of good faith.

ARTICLE 15

Amendment and Discontinuance

     The Corporation expects to continue this Plan indefinitely, but reserves the right, by action
of the Committee, to amend it from time to time, or to discontinue it if such a change is deemed
necessary or desirable. This Plan shall not, however, be amended, modified or discontinued after
the Effective Date until the later of the end of the Protection Period or such time as all claims
payable hereunder have been fully discharged.

     Executed as of this   day of , 2007 at Cleveland, Ohio but effective as of January
1, 2005.

	 	 	 	 	 	 	 
	 	 	NATIONAL CITY CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 

14

 

EXHIBIT A

RELEASE AND WAIVER AGREEMENT

I, «FirstName» «LastName», voluntarily sign this Release and Waiver Agreement (Agreement) in
exchange for payments (the “Payments”) set forth in Section 4.1 of the National City Corporation
Management Severance Plan (the “Plan”).

1. I release and waive any and all rights and claims I may have now or at any time I accept any of
the Payments against the Surviving Entity (as defined in the Plan) arising out of my employment
with the Surviving Entity or the termination of my employment or any circumstances surrounding or
statements made in connection with my employment or the termination of my employment. This
Agreement includes, but is not limited to, rights and claims under any Federal, State, or local law
concerning employment relationships or employment discrimination.

2. This Agreement does not include, and I do not waive, any rights or claims that I may have under
workers’ compensation laws, or any rights that I may have under National City benefit plans. This
Agreement does not include, and I do not waive, any rights that I may have under the
indemnification provisions of the by-laws of the Surviving Entity or as an additional insured under
any director and officer policy that the Surviving Entity has maintained. The Surviving Entity
will not contest any application for unemployment benefits that I may make after the Continuation
Period (as defined in the Plan) provided that I am not then employed.

3. I acknowledge that I have been advised to consult an attorney before signing this Agreement. I
acknowledge that I have been given a period of 21 days, beginning «TodayDate», to consider this
Agreement, and the Payments I am eligible to receive, before I sign it.

4. I understand that I have seven (7) days after I sign this Agreement to revoke it, and that the
Surviving entity cannot enforce this Agreement until the seven (7) days have passed and I have not
revoked it.

5. I represent that, during my employment with Surviving Entity, I complied with the Surviving
Entity Code of Ethics and I understand that it continues to impose obligations on me after my
employment with Surviving Entity ends.

6. For purposes of this Agreement, “Surviving Entity” includes Surviving Entity, its subsidiaries
and affiliates, and its and their current and former officers, directors, and employees.

7. The release and waiver of all rights and claims covered by this Agreement applies to me and to
my estate and shall be governed in all respects by Delaware law. If a court

15

 

finds any provision of this Agreement to be unenforceable, then I agree that the unenforceable
provision will be disregarded in interpreting this Agreement so that the remainder of this
Agreement is enforceable.

8. I acknowledge that I have completely read, that I fully understand, and that I voluntarily sign
this Agreement.

     IN WITNESS, I have executed this Agreement on this ___day of ___,
___.

	 	 	 	 	 	 	 
	 

	 	 	 	 

Employee signature
	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

Witness

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

(Print witness name)

	 	 	 	 	 	 

16

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