Document:

AMENDMENT ONE
                                     TO THE
                           FLEET FINANCIAL GROUP, INC.
                        RETIREMENT INCOME ASSURANCE PLAN

1.       Section 7.8 is added effective January 1, 1997 to read as follows:

         7.8      Nonduplication of Benefits

         The benefits payable to a Participant under this Plan shall be reduced
         on an Actuarial Equivalent basis by the benefit such Participant earned
         under any other similar nonqualified excess defined benefit plan that
         does not provide for a reduction of benefits under such plan, for
         benefits payable under this Plan, to the extent that the benefits under
         such plan were accrued upon the Participant's service that was included
         as Credited Service under this Plan.

2.       Appendix A is added to read as follows:

                                      -1-
<PAGE>

                                   APPENDIX A

                SPECIAL RULES FOR SERVICE WITH ACQUIRED ENTITIES

         This Appendix A is part of the Plan and contains special rules
applicable only to the Participants described herein. If provisions of this
Appendix A conflict with any other provisions of the Plan with respect to such
Participants, the provisions of this Appendix A shall govern.

A.       SHAWMUT NATIONAL CORPORATION

         1. The Shawmut National Corporation Excess Benefit Plan ("Shawmut
Excess Plan") shall merge into the Plan effective as of January 1, 1997. As of
that date, the liabilities of the Shawmut Excess Plan shall become the
liabilities of the Plan and the Shawmut Excess Plan shall cease to exist.
Notwithstanding anything in the Plan to the contrary, the benefit under this
Plan of a Participant who was a former participant in the Shawmut Excess Plan
shall not be less than the benefit such participant would be deemed to have
accrued under the terms of the Shawmut Excess Plan as of the date this Appendix
A was adopted.

         2. Each individual who was a participant in the Shawmut Excess Plan or
the Shawmut National Corporation Executive Supplemental Retirement Plan
("Shawmut SERP") immediately prior to the date as of which Shawmut National
Corporation merged with Fleet Financial Group, Inc., and who became an employee
of the Company or a subsidiary or affiliate as of said merger date, shall become
a Participant in the Plan as of January 1, 1997. This Section A of Appendix A
shall apply solely to former participants in the Shawmut Excess Plan or Shawmut
SERP ("Shawmut Participants").

         3. The benefits of Shawmut Participants shall be determined by taking
into account the principles and provisions of Specification Schedule J of the
Basic Plan. For Participants who are not Cash Balance Participants, this
includes adjustment of their 12/31/96 benefit, transferred from the Shawmut
Excess Plan, for increases in Average Annual Compensation after 1996.

                                      -2-
<PAGE>

         4. As of January 1, 1997, the following Cash Balance Participants shall
have the following opening amounts credited to their Cash Balance Accounts under
this Plan, which represents the total value of their benefits under the Shawmut
Excess Plan as of December 31, 1996, reduced by the deemed Shawmut Excess Plan
offset described in Section 5 below, where applicable, expressed as a single
sum:

<TABLE>
<CAPTION>
         ----------------------------------------- --------------------------- ------------------------------
                                                                                        OPENING CASH
                          NAME                             SOC. SEC.#                      BALANCE
         ----------------------------------------- --------------------------- ------------------------------
         <S>                                       <C>                                           <C>
         CLAFFEE, JAMES                            ###-##-####                                   $  2,418.50
         ----------------------------------------- --------------------------- ------------------------------
         DELFINO, PAUL                             ###-##-####                                   $  6,747.34
         ----------------------------------------- --------------------------- ------------------------------
         EYLES, DAVID                              ###-##-####                                   $ 17,775.70
         ----------------------------------------- --------------------------- ------------------------------
         FALK, MICHAEL                             ###-##-####                                   $  1,509.82
         ----------------------------------------- --------------------------- ------------------------------
         HEDGES JR., ROBERT                        ###-##-####                                   $  3,074.22
         ----------------------------------------- --------------------------- ------------------------------
         HUSTON, JOHN                              ###-##-####                                   $  7,843.30
         ----------------------------------------- --------------------------- ------------------------------
         MALLON, WILLIAM                           ###-##-####                                   $  4,567.26
         ----------------------------------------- --------------------------- ------------------------------
</TABLE>

         5. Because participants in the Shawmut SERP were not also participants
in the Shawmut Excess Plan, their benefit under the Plan, which is calculated by
taking into account their service with Shawmut, shall be reduced by the
following amounts, or the Actuarial Equivalent thereof, which are the benefits
that they would have accrued under the Shawmut Excess Plan as of December 31,
1996, with Credited Service frozen as of December 1, 1995, if they had been
participants in the Shawmut Excess Plan:

<TABLE>
<CAPTION>
      ------------------------------------------ ----------------------- ---------------------------------------
                                                                         EXCESS PLAN OFFSET
                       NAME                            SOC. SEC.#        OF MONTHLY NORMAL RETIREMENT BENEFIT
      ------------------------------------------ ----------------------- ---------------------------------------
<S>                                              <C>                                                <C>
      BERGER, JOHN                               ###-##-####                                        $    382.62
      ------------------------------------------ ----------------------- ---------------------------------------
      BROMAGE, WILLIAM                           ###-##-####                                        $    364.00
      ------------------------------------------ ----------------------- ---------------------------------------
      KRAUS, EILEEN                              ###-##-####                                        $  2,294.25
      ------------------------------------------ ----------------------- ---------------------------------------
      OVERSTROM, GUNNAR                          ###-##-####                                        $  8,170.96
      ------------------------------------------ ----------------------- ---------------------------------------
      ROTTNER, SUSAN                             ###-##-####                                        $    565.74
      ------------------------------------------ ----------------------- ---------------------------------------
</TABLE>

                                      -3-
<PAGE>

IN WITNESS WHEREOF, this Amendment One has been adopted by the Human Resources
and Planning Committee on the 17th day of June, 1998 and is executed by a duly
authorized officer of Fleet Financial Group, Inc.

                                  FLEET FINANCIAL GROUP, INC.

                                  By: /s/ WILLIAM C. MUTTERPERL
                                      -------------------------
                                           William C. Mutterperl
                                           Executive Vice President, Secretary
                                                and General Counsel

                                      -4-AMENDMENT TWO
                                     TO THE
                           FLEET FINANCIAL GROUP, INC.
                        RETIREMENT INCOME ASSURANCE PLAN

Except as otherwise provided below, the following amendments are effective as of
January 1, 2000.

1.       Upon the effective date of the final legal approval of the change in
         the name of the Company to FleetBoston Financial Corporation, the name
         "Fleet Financial Group, Inc." will be replaced by the name "FleetBoston
         Financial Corporation" wherever it appears in the Plan.

2.       Section 4.2 is amended to read as follows:

                  4.2 PAYMENT OF BENEFITS TO TRADITIONAL PARTICIPANTS.

             Benefits payable under the Plan to or in respect of a Participant
             who is not a Cash Balance Participant under the Basic Plan shall be
             calculated in the same manner, paid in the same form, commence at
             the same time, and paid under the same terms and conditions as the
             benefits paid to the Participant (or Beneficiary) under the Basic
             Plan. Such Participant's benefit payment election under the Basic
             Plan shall be treated as his or her benefit payment election under
             the Plan.

3.       Sections 4.3 and 4.4 are renumbered as 4.4 and 4.5, respectively, and a
         new Section 4.3 is added to Article IV to read as follows:

                  4.3 PAYMENT OF BENEFITS TO CASH BALANCE PARTICIPANTS.

         (a) Except as otherwise provided in this Section 4.3, benefits payable
             under the Plan to or in respect of a Participant who is a Cash
             Balance Participant under the Basic Plan shall be calculated in the
             same manner and payable in the same forms, at the same times, and
             under the same terms and conditions as the benefits payable to the
             Participant (or Beneficiary) under the Basic Plan.

         (b) A Cash Balance Participant (or Beneficiary) shall separately elect
             the form and timing of his or her benefit under the Plan and under
             the Basic Plan. Such election under the Plan, or change in any
             prior election, shall be made on a form approved by the Committee.
             An election under this Section 4.3 is not valid or effective unless
             filed

<PAGE>

             with the Committee either by December 31, 1999 or at least one
             year prior to the Participant's last day of active employment.

         (c) A Participant who does not have a valid, timely election in effect
             on the last day of active employment shall have his or her benefit
             promptly paid out in a lump sum following termination of employment
             (i.e., after the end of salary continuation payments, if
             applicable).

         (d) Notwithstanding the foregoing provisions of this Section 4.3, if
             the value of a Cash Balance Participant's benefit under the Plan at
             the time of termination of employment is $10,000 or less, the
             Participant's benefit shall be paid out in a lump sum as soon as
             administratively practicable following termination of employment.

4.       Section 4.5 is amended to read as follows:

                  4.5 VESTING. If a Participant or Beneficiary is not entitled
         to receive a benefit under the Basic Plan because the benefit is not
         vested, the Participant or Beneficiary shall also not be entitled to
         receive benefits under the Plan.

5.       Article 5 is amended by replacing the phrase "Corporate Benefits
         Director" with the phrase "Director of Rewards, Recognition and Benefit
         Services or such Director's designee" wherever it appears therein.

6.       The last sentence of Article 5 is amended effective January 1, 1996, by
         replacing the term "omissions" with the term "omission".

7.       Article 6 is amended to read as follows:

         ARTICLE 6.          AMENDMENT OR TERMINATION OF THE PLAN

                  The Plan may be amended or terminated in writing by the
         Committee or the Company in any manner at any time. Notwithstanding the
         previous sentence, no such amendment or termination shall reduce the
         amount of a Participant's benefit or his or her distribution rights
         related thereto as determined under the provisions of the Plan in
         effect immediately prior to such amendment or termination, and this
         second sentence of Article 6 is irrevocable and may not be amended.

8.       Section 7.9 is added to read as follows:

                                       2
<PAGE>

         7.9 SOCIAL SECURITY TAX. Subject to the requirements of Code section
         3121(v)(2) and the regulations thereunder, the Committee has the full
         discretion and authority to determine when Federal Insurance
         Contribution Act ("FICA") taxes on a Participant's Plan benefit or
         account are paid and whether any portion of such FICA taxes shall be
         withheld from the Participant's wages or deducted from the
         Participant's benefit or account.

IN WITNESS WHEREOF, the provisions of this Amendment Two were adopted by the
Human Resources and Board Governance Committee on the 21st day of December,
1999, or are hereby adopted, and this Amendment Two is executed by a duly
authorized officer of Fleet Boston Corporation.

                                           FLEET BOSTON CORPORATION

                                           By: /s/ WILLIAM C. MUTTERPERL
                                               -------------------------
                                                    William C. Mutterperl
                                                    Executive Vice President,
                                                    Secretary and General
                                                    Counsel

                                      3

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