Document:

Exhibit

EXHIBIT 4.3

AMENDMENT NO. 1 TO WARRANT AGREEMENT
THIS AMENDMENT NO. 1 TO WARRANT AGREEMENT, dated as of September 30, 2018 (this “Amendment”), by and between Zions Bancorporation, a Utah corporation (the “Company”), and ZB, National Association (formerly Zions First National Bank), a national banking association organized under the laws of the United States (the “Warrant Agent”).  Defined terms used herein and not otherwise defined shall have the meanings given to them in the Warrant Agreement;
WHEREAS, the Company and the Warrant Agent have previously entered into that certain Warrant Agreement, dated as of May 25, 2010 (the “Warrant Agreement”); 
WHEREAS, the Company has entered into that certain Agreement and Plan of Merger (as the same may be amended, modified or supplemented from time to time, the “Merger Agreement”), amended and restated on July 10, 2018, with the Warrant Agent, pursuant to which Company will merge with and into the Warrant Agent (the “Merger”), with the Warrant Agent surviving the Merger (the “Surviving Entity”);
WHEREAS, the Merger is a Reorganization Event in accordance with Section 6.07(a) of the Warrant Agreement and in connection with the Merger Agreement the parties desire to amend the Warrant Agreement in accordance with Sections 6.07(d) and 7.03 as set forth herein; and
WHEREAS, ZB, National Association, as successor to the Company in the Merger, desires to assume all the Company’s obligations under this Warrant Agreement and the Warrant.
NOW, THEREFORE, in consideration of the premises set forth herein and the agreements contained herein, and intending to be legally bound hereby, the parties hereto agree as follows:
Section 1.  Reorganization Event.  
(a)    Pursuant to Section 6.07(a) of the Warrant Agreement, following the effective time of the Merger, each Warrant to purchase one share of common stock of the Company shall be exercisable for the right to purchase one share of common stock of the Surviving Entity.
(b)    Pursuant to Section 6.08 of the Warrant Agreement, ZB, National Association, as successor to the Company in the Merger, hereby expressly assumes all the Company’s obligations under the Warrant Agreement and the Warrants.
Section 2.      Miscellaneous Provisions
(a)    No Other Amendments; Confirmation.  Except as expressly amended by this Amendment, the provisions of the Warrant Agreement are and shall remain in full force and effect, without any waiver, amendment or modification of any provision thereof.
(b)    No Third Party Beneficiaries.  Nothing in this Amendment expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any Person other than the parties hereto and the Warrant holders any right, remedy or claim under or by reason of this Amendment or of any covenant, condition, stipulation, promise or agreement hereof, and all covenants, conditions, stipulations, promises and agreements contained in this Amendment shall be for the sole and exclusive benefit of the parties hereto and their successors and the Warrant holders.
(c)    Governing Law.  This Amendment shall be governed by and interpreted in accordance with the laws of the State of New York without giving effect to the principles of conflicts of laws thereof.
(d)    Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument, and a facsimile or portable document format (pdf) document shall be deemed to be an original signature for all purposes under this Amendment.
(e)    Entire Agreement.  The Warrant Agreement, as amended hereby, represents the entire understanding of the parties hereto with reference to the matters set forth herein.  The Warrant Agreement, as amended hereby, supersedes all prior negotiations, discussions, correspondence, communications and prior agreements among the parties hereto relating to the subject matter herein.
[Signature Page Follows.]

IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed as of the date first indicated above.
ZIONS BANCORPORATION
		
	By:
	/s/ Harris H. Simmons     
Name:    Harris H. Simmons 
Title:    Chairman and CEO

    
ZB, NATIONAL ASSOCIATION, as Warrant Agent
		
	By:
	/s/ Paul E. Burdiss     
Name:    Paul E. Burdiss 
Title:    Executive Vice President

ZB, NATIONAL ASSOCIATION, as successor
		
	By:
	/s/ Paul E. Burdiss     
Name:    Paul E. Burdiss 
Title:    Executive Vice PresidentExhibit

EXHIBIT 10.1

THIRD AMENDMENT TO THE 
ZIONS BANCORPORATION PENSION PLAN
(December 31, 2010 Edition)

This Third Amendment to the Zions Bancorporation Pension Plan is made and entered into this         30        day of October, 2017, by the Zions Bancorporation Benefits Committee (“Committee”) on behalf of Zions Bancorporation, hereinafter referred to as the “Employer.”

WHEREAS, the Employer previously established and continues to maintain a pension plan for certain employees of the Company and certain of its affiliates called the of Zions Bancorporation Pension Plan (hereinafter referred to as the “Plan”); and

WHEREAS, the Employer has most recently amended and restated the Plan as the December 31, 2010 Edition of the Plan; and 

WHEREAS, pursuant to Section 13.1(a) of the Plan the Employer has reserved the right to amend the Plan in whole or in part, which authority for purposes of this amendment has been delegated to the Committee; and

WHEREAS, the Committee has most recently amended the Plan effective July 1, 2017, (“Second Amendment”) by adding a new Section 5.17 thereto for the purpose of offering to certain deferred vested participants and certain beneficiaries of deceased participants a temporary election to receive an immediate distribution from the Plan; and

WHEREAS, the Second Amendment provides in part for a temporary election window period during which eligible terminated participants  may choose to take a single sum payment from the Plan, which window is scheduled to close on November 1, 2017; and 

WHEREAS, the Committee has determined that it is in best interests of the eligible terminated participants and good Plan administration to extend the close of the temporary election window period from November 1, 2017, until Friday, November 24, 2017; 

NOW THEREFORE, the Committee, for and on behalf of the Employer, and in exercise of the authority granted to it, hereby adopts the following amendment to the Plan.

1.    Effective July 1, 2017, Section 5.17 is amended to read as follows (amended language is in bold italics):

		
	5.17
	Temporary Election Window for Immediate Distribution of Accrued Benefit.  An Eligible Terminated Participant who satisfies the requirements of this Section and who so elects during the Temporary Election Window, shall be entitled to receive an immediate distribution of the Eligible Terminated Participant’s Accrued Benefit according to the provisions of this Section.

		
	(a)
	During the temporary election window period (“Election Window”), an Eligible Terminated Participant may elect to receive payment of the Accrued Benefit (pension) to which the Eligible Terminated Participant is entitled under the Plan. The benefit payment shall be made in the form of a single sum payment, subject to the right of the Eligible Terminated Participant to elect receipt of the accrued benefit instead in the form of an annuity as described in subsection (c).

		
	(b)
	The amount of the single sum payment (or present value of the annuity payments, if elected) will be calculated using the Applicable Mortality Table and Applicable Interest Rate as defined in subsections (a) and (b) of Appendix II of the Plan, respectively.  The amount so determined will be adjusted, as appropriate, for early commencement by using the applicable interest rate and applicable mortality table required by Code §417(e)(3) for the 2017 Plan Year. The calculation shall be determined as of November 1, 2017, and the benefit shall be paid commencing in the month of November, 2017, or as soon thereafter as is administratively practicable.  The determination of the single sum amount shall not take into account any early retirement subsidy otherwise payable.

		
	(c)
	If an Eligible Terminated Participant qualifies to receive the single sum payment  as provided in this Section, he or she may, in lieu of the single sum payment, elect to receive distribution in the form of a single life annuity for the life of the Eligible Terminated Participant or, if the Eligible Terminated Participant is married on the date the Election Window starts, in the form of a joint and survivor annuity with either a 50% or 75% survivor benefit to the Eligible Terminated Participant’s surviving spouse. No other benefit distribution options shall be available to an Eligible Terminated Participant under this Election Window.  An Eligible Terminated Participant who is married at the start of the Election Window must obtain spousal consent to elect a form of benefit other than the available joint and survivor annuity (for which spousal consent is not required) in accordance with the Plan's normal rules.

		
	(d)
	For purposes of this Section, the following terms shall be defined as set forth below:

		
	(1)
	“Eligible Terminated Participant” means a Participant whose Termination of Employment occurred any time prior to July 1, 2017, and who has not yet commenced receiving payment of his or her benefit, even if the Participant has not yet otherwise met any other conditions required by the Plan to commence payment, but in all events excluding any Participant whose date of Termination of Employment is on or after July 1, 2017, or who attains his or her Normal Retirement Date or Early Retirement Date prior to November 1, 2017, whether or not he or she has commenced receiving distribution of his or her Accrued Benefit.  

		
	(2)
	"Election Window" shall mean the period beginning on August 1, 2017, and ending on November 24, 2017.  All forms necessary and required to be signed and submitted in order to elect the benefit provided under this Election Window must be postmarked no later than November 24, 2017, to be considered timely, or if electronic submission is available, delivered no later than midnight, Mountain Time on November 24, 2017.  No one may elect a single sum payment or any early commencement of payment or distribution not otherwise authorized under the terms of the Plan after the close of the Election Window.

		
	(3)
	An alternate payee entitled to a separate interest in a Participant's accrued benefit under a qualified domestic relations order shall be treated as an Eligible Terminated Participant if the QDRO has been approved no later than October 1, 2017, but only if the terms of the QDRO accommodate participation by the alternate payee in the Election Window (even if the alternate payee would not otherwise be eligible for payment, so long as the order does not prohibit early payment).

IN WITNESS WHEREOF, the Committee has caused this Third Amendment to be executed by its duly authorized representative this __ 30__ day of October, 2017.

ZIONS BANCORPORATION BENEFITS COMMITTEE

By: /s/ Paul E. Burdiss__         _______________________
       Committee Chair

1

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