Document:

Exhibit 4.6

 Exhibit 4.6 
  

			
	 Registered
	  	Registered

 PEOPLE’S UNITED FINANCIAL, INC. 

3.65% SENIOR NOTES DUE 2022 
 This Security is not a deposit or other obligation of a depository institution and is not insured by the Federal Deposit Insurance Corporation or by any other government entity. 

This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of
Cede & Co., the nominee of The Depository Trust Company (the “Depositary”). This Global Security is exchangeable for Securities registered in the name of a Person other than the Depositary or its nominee only in the limited
circumstances described in the Indenture, and no transfer of this Security (other than a transfer of this Security as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary) may be registered except in such limited circumstances. The Depositary will not sell, assign, transfer or otherwise convey any beneficial interest in this Global Security unless such beneficial interest is in an amount equal to an
authorized denomination for Securities of the series, and the Depositary, by its acceptance hereof, agrees to be so bound. 

Unless this Security is presented by an authorized representative of the Depositary to People’s United Financial, Inc. or its agent
for registration of transfer, exchange or payment, and any Security issued is registered in the name of Cede & Co. or such other name as is requested by an authorized representative of the Depositary (and any payment is made to
Cede & Co. or to such other entity as is an authorized representative of the Depositary), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede &
Co., has an interest herein. 
  

			
	 No. R-l
	  	$500,000,000
	 CUSIP No: 712704AA3
	  	
	 ISIN No: US712704AA31
	  	

 PEOPLE’S UNITED FINANCIAL, INC., a corporation duly incorporated and existing under the laws of the
State of Delaware (herein called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the
principal sum of 
 FIVE HUNDRED MILLION DOLLARS ($500,000,000) 
 on December 6, 2022 and to pay interest thereon from December 6, 2012 or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, on
June 6 and December 6 of each year (each, an “Interest Payment Date”), commencing June 6, 2013, at the rate of 3.65% per annum, until the principal hereof is paid or duly provided for. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided
in the Indenture referred to on the reverse hereof, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
15th calendar day prior to the Interest Payment Date.

 In the event that any Interest Payment Date or the Stated Maturity falls on a day that is not a business day, the interest or
principal payment due on that date will be paid on the next day that is a business day, and such payment shall be made on that business day with the same force and effect as if made on the Interest Payment Date or the Stated Maturity, as the case
may be, without any interest or other payment with respect to the delay. A “business day” is any day, other than a Saturday, Sunday or other day that, in New York City, banking institutions generally are authorized or obligated by law or
executive order to close. 
 Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable
to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to the Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the principal office of the Trustee, at
which at any particular time its corporate trust business shall be administered, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however,
that 

 at the option of the Company payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register. 
 Reference is hereby made to the further provisions of
this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof, or an Authenticating Agent, by manual signature, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: December 6, 2012 
 PEOPLE’S
UNITED FINANCIAL, INC. 
  

			
	 By:
	 	 
		 	Name: John P. Barnes
		 	Title: President and Chief Executive Officer

  

			
	 Attest:
	 	 
		 	Name: Robert Trautmann
		 	Title: Senior Executive Vice President,
		 	        General Counsel and Secretary

 [Signature Page to Note] 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein 
 Referred to in the
within-mentioned Indenture. 
 THE BANK OF NEW YORK MELLON, as Trustee 

 

			
	 By:
	 	 
		 	      Authorized Signatory

 [Signature Page to Note] 

 [REVERSE OF SECURITY] 

3.65% SENIOR NOTES DUE 2022 
 This Security is one of a duly authorized issue of senior debt securities of the Company (herein called the “Securities”) of the series hereinafter specified, all issued or to be issued under
and pursuant to the Senior Debt Indenture, dated as of December 6, 2012 (herein called the “Indenture”), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), duly executed and delivered by the Company. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the respective rights, limitations of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. Terms defined in the Indenture are used herein as so defined.
The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject to different redemption
provisions, if any, may be subject to different sinking funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as provided in the Indenture. This Security is one of the series designated as the 3.65% Senior
Notes due 2022 of the Company (herein called the “Notes”), which series shall have a current aggregate principal amount of $500,000,000, which principal amount may be increased from time to time through the issuance of additional Notes.

 Interest on this Security shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest (if any) on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

This Security is not subject to any sinking fund. 
 The Security is subject to redemption upon not less than 30 days’ nor more than 60 days’ notice by mail at any time prior to September 6, 2022 (the date falling three months prior to the
maturity date), as a whole or in part, at the election of the Company, at a redemption price equal to the greater of: 
  

	 	•	 	 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date, or 

 

	 	•	 	 the sum of the present values of the remaining principal amount and scheduled payments of interest through the maturity date on the notes to be
redeemed (not including any portion of payments of interest accrued as of the redemption date) discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 35 basis points plus accrued and unpaid interest to the redemption
date. 

 
“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated on the
third business day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having an
actual or interpolated maturity comparable to the remaining term of the notes that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of the notes. 
 “Comparable Treasury Price” means, with respect to any redemption date:

  

	 	•	 	 the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury
Dealer Quotations, or 

  

	 	•	 	 if the Company obtains fewer than five Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received.

 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Company. 
 “Reference Treasury Dealer” means each of (1) J.P. Morgan Securities LLC and or any of its affiliates,
and its successors, and (2) any four or more other primary U.S. Government securities dealers in New York City selected by the Company (each a “Primary Treasury Dealer”); provided, however, that if any of the foregoing shall cease to
be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Company by that Reference Treasury Dealer at 3:30 p.m., New York City time, on the third business day preceding that redemption date. 

In addition, at the Company’s option, the Company may redeem the Notes, in whole or in part, at any time on or following
September 6, 2022 (the date falling three months prior to the maturity date) at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date. 

The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness evidenced by this Security and
(b) certain restrictive covenants, in each case upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Security. 

 If an Event of Default with respect to Securities of this series shall occur and be
continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Upon payment (i) of the amount of principal so declared due and payable and (ii) of
interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of (and premium, if
any) and interest, if any, on the Securities of this series shall terminate. 
 The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee
with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of
the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place
where the principal of (and premium, if any) and interest (if any) on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by,
the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000
and any larger integral multiples of $1,000. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series of like
tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be
made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 

 No recourse for the payment of the principal of (or premium, if any) or interest on this
Security or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental thereto or in this Security, or because of the
creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company, or
any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the
issue hereof, expressly waived and released by each holder of this Security. 
 All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 This Security shall be governed by and
construed in accordance with the laws of the State of New York.Exhibit 10.7

 Exhibit 10.7 
  

 
 STOCK OPTION AGREEMENT 
 (Under the People’s United Financial, Inc. 2008 Long-Term Incentive Plan) 
 Granted To: [NAME] (“you” or the “Participant”) 
 In
accordance with the terms of the People’s United Financial, Inc. 2008 Long-Term Incentive Plan (the “Plan”), People’s United Financial, Inc. (the “Company) is pleased to grant you a non-statutory stock option (the
“Option”) to purchase [SPECIFY NUMBER] shares of the Company’s Common Stock (the “Optioned Shares”) at an Option Price of $[PRICE] per share, representing the Fair Market Value of the Common Stock on [DATE]. The Option is
exercisable at the times specified in Section 3 of this Agreement, and is subject to the other terms and conditions contained in this Agreement and in the Plan. 
 You and the Company agree that the Option is subject to the following terms and conditions: 
 1. Definitions. All of the terms and provisions of the Plan are incorporated into this Agreement by reference to the same effect as if the Plan were set forth herein in its entirety. All terms used in
this Agreement and defined in the Plan shall, unless otherwise defined herein, have the same meanings as in the Plan. The term “Common Stock” refers to the Company’s Common Stock, par value $.01 per share, and includes any class or
series of securities into which such capital stock may be changed, as contemplated by Section 13 of the Plan. The terms “affiliate”, “directors”, “person”, and “security”, or any variations of such terms,
shall have the broadest meanings assigned to them by the Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934 (the “Exchange Act”). The terms “you” and “your” shall
include, when the context requires, any persons entitled to exercise this Option by virtue of Section 6 of this Agreement. 

2. Term of Option. The Option is granted and made effective on [DATE] (the “Grant Date”) and shall terminate, expire and no
longer be exercisable, to the extent not previously exercised or surrendered, on the tenth anniversary of the Grant Date, or at such earlier time as may be specified in the Plan or in Section 8 of this Agreement (the “Option Period”).

 3. Exercise of Option. Provided that the Option has not sooner expired and terminated in accordance with the Plan or
Section 8 hereof, the Option shall be exercisable commencing on the earlier of (a) the first day of the month following your Retirement, as to 100% of the Optioned Shares, or (b) the date of termination of your employment by reason of
your death or Disability, as to 100% of the Optioned Shares, or (c) the first day of the month following the anniversary of the Grant Date, in the following percentage installments: 

			
	 Date Option
 Becomes Exercisable
	  	 Percentage of Optioned

Shares as to which the
 Option Becomes Exercisable

	
	[INSERT DETAILS OF VESTING SCHEDULE FOR SPECIFIC GRANT]

 Once Optioned Shares have become available for purchase in accordance with the foregoing schedule, any
unpurchased shares included in an installment or part of an installment of the Optioned Shares shall remain subject to purchase on a cumulative basis until the Option expires or terminates in accordance with the Plan or Section 8 hereof. The
Option may not be exercised for fractional shares of Common Stock; all fractional shares shall be rounded to the nearest whole number below the actual number of shares. 
 4. Method of Exercise. You (or such other person as is provided in Section 6 hereof) may exercise the Option only by delivering written notice to the Company setting forth your irrevocable election
to purchase all or a designated part of any then matured installment or installments of the Optioned Shares. Subject to Section 8 hereof, the notice of exercise must be delivered to the Company on or before the close of business on a date which
is or precedes the last day of the Option Period, except that if the last day of the Option Period is a Saturday, Sunday or a day on which either the Company’s corporate headquarters or the markets for equity securities generally are closed,
the notice shall be delivered before the close of business on the business day preceding the last day of the Option Period. 

The notice shall contain specific reference to this Agreement and the Plan and must be signed by you (or by such other person as is
provided in Section 6 hereof). The notice shall be accompanied by payment in full of the Option Price by cash, certified or bank check or, if the Committee consents, payment in full or in part may also be made in the form of Common Stock
already owned by you, as provided in Section 7(g) of the Plan. If at any time this Agreement is in effect, you are or potentially could be subject to Section 16(b) of the Exchange Act, an election to make payment in full or in part in the
form of Common Stock shall be subject to compliance with the provisions of Section 16 of the Exchange Act and the Rules and Regulations of the Securities and Exchange Commission (the “SEC”) promulgated thereunder, as interpreted by
the Committee. No Optioned Shares shall be issued until full payment therefore has been made, including payment of all applicable withholding taxes, or the Committee has approved arrangements for payment. 

5. Withholding. With the express written consent of the Committee, upon the exercise of the Option in accordance with the terms of
Section 4 hereof, the Company, on behalf of the Company affiliate by which you are employed, will withhold the amount that it is required to withhold for federal, state, local or foreign withholding tax purposes. In that event, withholding
obligations will be settled by withholding from distribution to you a number of Optioned Shares 

  
 2 

 
having a Fair Market Value on the date that the amount of tax to be withheld otherwise would be withheld in cash (the “Tax Date”) equal in value to the amount required to be withheld.
If, at any time this Agreement is in effect, you are or potentially could be subject to Section 16(b) of the Exchange Act, the method for settling withholding obligations described herein shall be subject to compliance with the provisions of
Section 16 of the Exchange Act and the Rules and Regulations of the SEC promulgated thereunder, as interpreted by the Committee. 
 6. Persons Entitled to Exercise. The Option may be exercised: 
 (a) except as
provided below or in the Plan, only by you during your lifetime; 
 (b) in the event of your death while in the employment of
the Company (or one or more of its affiliates) (or following termination of your employment by reason of your Retirement) by your legal representative or by the legal representative of your estate; and 

(c) in the event of your permanent Disability, by you or by your legal representative (as the case may be). 

In the event of your death while you are in the employment of the Company (or one or more of its affiliates), all Options remaining
unexercised as of the date of death may be exercised by the personal representative of your estate, including the executor under your will or an administrator with the will annexed, or the administrator of your estate in the event you should die
intestate; provided that such installments must be exercised, if at all, prior to the expiration of the Option Period. In the event of termination of your employment by reason of your permanent and total Disability, as that term is defined in
Section 22(e)(3) of the Code, all Options remaining unexercised at the time of termination of employment may be exercised by you or your legal representative (as the case may be), provided that such installments must be exercised, if at all,
prior to the expiration of the Option Period. Exercise of the Option by your representative or fiduciary or your estate shall be subject to all of the terms and conditions of this Agreement and of the Plan and shall entitle such representative or
fiduciary to no greater part of the Optioned Shares than you could have acquired if you had exercised the Option at the time of your death or termination of employment by reason of permanent Disability. To the extent that any such representative or
fiduciary shall be entitled to exercise the Option in accordance with the provisions of Section 6 and the other sections of this Agreement, the terms “you” and “your” shall include such representative or fiduciary for
purposes of this Agreement. 
 7. Delivery of Certificates. The Company may postpone the time of delivery of certificates for
the Optioned Shares for such time as the Company deems necessary or desirable to enable it to comply with the listing requirements of any securities exchange or stock quotation system upon which the Common Stock may be listed or quoted, the
requirements of the Securities Act or the Exchange Act, any rules or regulations of the Securities and Exchange Commission promulgated thereunder, or the requirements of applicable state laws relating to the authorization, issuance or sale of
securities generally or bank securities specifically. Until certificates representing Optioned Shares are delivered to you or transfer is effected by book entry on the stock transfer records of the Company, you will have no right to vote or receive
dividends with respect to the Optioned Shares. 

  
 3 

 8. Termination of Option Period. The Option shall lapse and terminate (i) on the date
of termination of your employment (or, if sooner, the expiration date of the Option Period), as to all of the Optioned Shares that either (A) are not yet exercisable on the date of such termination or (B) do not become exercisable at the
time of such termination pursuant to the terms of this Agreement, and (ii) as to all of the Optioned Shares that are exercisable (but unexercised) on the date of termination of your employment, on the first to occur of the events listed in
(a) through (d) below: 
 (a) Expiration of the Option Period; or 

(b) Immediately, upon the termination of your employment for Cause; or 

(c) Expiration of three months after termination of your employment with the Company (or one or more of its affiliates) for any reason
other than death, Disability, Retirement or Cause; and this Agreement shall be of no further validity or effect, except with respect to Optioned Shares previously purchased; or 

(d) Expiration of one year after termination of your employment with the Company (or one or more of its affiliates) by reason of death,
Disability or Retirement; and this Agreement shall be of no further validity or effect, except with respect to Optioned Shares previously purchased. 
 9. Reservation of Shares. During the Option Period, the Company will reserve from its authorized and unissued Common Stock, or from its treasury stock (or part from both), a sufficient number of shares to
provide for the delivery of the Optioned Shares upon exercise of the Option in accordance herewith and subject to the provisions of Section 7 hereof. If the Option should expire, lapse or otherwise become unexercisable for any reason specified
in or contemplated by this Agreement or the Plan, to the extent that the Option shall not have been exercised as to the full number of the Optioned Shares subject thereto, the unpurchased Optioned Shares shall be deemed freed automatically from any
such reservation and shall become immediately available for issuance and delivery pursuant to other option agreements under the Plan. 
 10. Corporate Law Status of Shares. The shares of Common Stock issuable upon exercise of the Option in accordance herewith, upon issuance, delivery and payment for such shares in accordance with
Section 7 of this Agreement, shall constitute validly issued and outstanding shares of capital stock of the Company. When so paid for, such shares will be fully paid and non-assessable. Throughout the Option Period (subject to the
foreshortening thereof under Section 8 hereof), the Company will have full legal right and authority to issue and deliver the Optioned Shares as contemplated by this Agreement. You shall have none of the rights of a shareholder until the
Optioned Shares are in fact issued and delivered to you. 
 11. Adjustments in Optioned Shares. In the event of any changes in
the capital structure or reorganization of the Company during the term of this Agreement, the provisions of Section 13 of the Plan shall apply. 

  
 4 

 12. Restrictions on Transferability. Except as provided in Section 6 hereof, neither
the Option nor any of your rights, interests or benefits thereunder or hereunder shall be subject to voluntary or involuntary assignment, transfer, pledge, hypothecation or other form of absolute or conditional alienation or disposition, directly or
indirectly. The Option shall be unexercisable during any period in which there is in effect, and may be terminated in all respects by the Company in the event of, a purported assignment of the Option or of any such rights, interests or benefits
thereunder or under this Agreement, except as provided in Section 6 hereof. 
 13. Modification and Waiver. No modification
or waiver of any of the provisions of this Agreement shall be binding upon either the Company or you unless made in writing and signed by you and countersigned on behalf of the Company by an executive officer thereof (other than you, if you should
be or become such an officer). 
 14. Binding Effect. Except as provided in Section 12 hereof, this Agreement shall be
binding upon and inure to the benefit of the parties hereto, their heirs, personal representatives, successors and assigns. 

15. Resolution of Controversies. Any dispute or disagreement that may arise under, or in any way may relate to, the interpretation,
construction or application of this Agreement shall be subject to determination by the Committee after appropriate notice to the affected parties and reasonable opportunity to be heard by the Committee. Any determination made by the Committee shall
be final, binding and conclusive for all purposes. 
 16. Notices. All notices, requests, demands, or other communications
required, permitted or contemplated by this Agreement shall be deemed effectively served, delivered or otherwise made (a) upon receipt if manually delivered, or (b) upon the delivery date shown on the returned receipt (or if delivery is
refused on the date presented for delivery) if mailed by the United States registered or certified mail, postage prepaid, return receipt requested, and if intended for the Company, directed to the Committee’s attention in care of People’s
United Bank, 850 Main Street, Bridgeport, Connecticut 06604; or if intended for you, directed to you at the address set forth below immediately following your signature. Either party may, by notice delivered in accordance with this Section, notify
the other party of a different address for all future notices, which will be effective upon delivery to the other party. 
 17.
Non-Solicitation. During the period of your employment with People’s United or any of its affiliates, and for a period of 12 months after the cessation of your employment for any reason, whether with or without cause, you will not, directly or
indirectly , on your own behalf or on behalf of any other person, and whether through your own efforts or through the efforts or employing the assistance of any other person (including without limitation any consultant or any person employed by or
associated with any person with whom you become employed or associated): 
  

	 	a)	 call on or solicit in any manner any customer of People’s United or any of its affiliates for the purpose of doing business of the type done by
People’s United or 

  
 5 

	 	
any of its affiliates with such customer. For purposes of this Agreement, “customer” means any individual, firm, partnership, corporation, or other entity or person (i) currently
doing business or who has done business with People’s United or any of its affiliates in the 12 months prior to the cessation of your employment, or (ii) any prospective customer that you know to be a prospective customer of People’s
United or any of its affiliates and with whom People’s United or any of its affiliates is in discussion with and reasonably expects to do business; or 

 

	 	b)	Solicit or otherwise induce any employee of People’s United or any of its affiliates to leave the employ of People’s United or any of its affiliates.

 To the extent the terms of this Section 17 are less restrictive (from your perspective) than comparable
non-solicitation restrictions agreed to by you pursuant to any Stock Option Agreement or Restricted Stock Agreement dated prior to the date hereof (collectively, the “Prior Agreements”), the terms of this Section 17 shall supersede
and replace the comparable non-solicitation provisions in each such Prior Agreement. 
 By accepting and agreeing to the terms
of this Agreement, you acknowledge that your receipt of the grant of the Award evidenced by this Agreement represents adequate consideration for the undertaking set forth in this Section 17. 

18. Revocation of Grant. No later than forty-five (45) days after the Grant Date (the “Acceptance
Date”), you must formally accept and agree to the terms and conditions of the Option as set forth in this Agreement. You must do so (a) electronically, if you are directed to do so at the time your Option is formally communicated to you
and you receive a copy of this Agreement, or (b) by returning a signed copy of this Agreement to the Manager of Executive Rewards in the Human Resources Department, 850 Main Street, BC-03, Bridgeport, CT 06604 so that it is
received no later than the close of business on the Acceptance Date. If you do not accept and agree to the terms and conditions of the Option as set forth in this Agreement by the Acceptance Date, the Option evidenced hereby shall be
null and void, and shall be deemed to have been revoked, on the first business day following the Acceptance Date. If the
45th day after the Grant Date is not a business day, the
Acceptance Date will be the first business day after such 45th day. A business day is any day other than a Saturday, a Sunday, or a day on which the Company’s banking offices in Connecticut are not scheduled to be open for business. 

19. Severability. In case any covenant, condition, term or provision contained in this Agreement shall be held to be invalid, illegal or
unenforceable in any respect, in whole or in part, by a judgment, order or decree of any court of competent jurisdiction, from which judgment, order or decree no further appeal or petition for review is available, the validity of the remaining
covenants, conditions, terms and provisions contained in this Agreement, and the validity of the remaining part of any term or provision held to be partially invalid, illegal or unenforceable, shall in no way be affected, prejudiced or disturbed
thereby. 

  
 6 

 20. Entire Agreement. This Agreement and the Plan contain all understandings between you and
the Company and any of its affiliates regarding the Optioned Shares. No other communications regarding the Optioned Shares are to be considered binding upon you and the Company unless they are identified as amendments to this Agreement, are in
writing and are signed by you and the Company as provided in this Agreement. 
 IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed on its behalf by its [TITLE] , and the Participant has executed this Agreement, intending to be legally bound hereby, effective [DATE]. 

 

					
		 	PEOPLE’S UNITED FINANCIAL, INC.
			
		 	By:	 	  

		 	 [NAME]

[TITLE]

		
		 	  

		 	Your Signature
		
		 	Your Mailing Address
		
		 	  

		
		 	  

		
		 	  

		
		 	Employee SS#:
      -    -          
		
		 	Employee ID #:
                    

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]