Document:

Form of letter agreement and Waiver

 EXHIBIT 10.47 
 [Date], 2008 
 [Senior Executive Officer], 
 [Street Address], 
 [City],
[St] [Zip]. 
 Dear [Senior Executive Officer], 
 Regions Financial Corporation (the “Company”) has entered into a Securities Purchase Agreement (the “Participation Agreement”), with the United States Department of Treasury
(“Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase Program (the “CPP”). 
 For the Company to participate in the CPP and as a condition to the closing of the investment contemplated by the Participation Agreement, the Company is required to establish specified standards for incentive
compensation to its senior executive officers and to make changes to its compensation arrangements. To comply with these requirements, and in consideration of the benefits that you will receive as a result of the Company’s participation in the
CPP, you agree as follows: 
  

	 	(1)	No Golden Parachute Payments. The Company is prohibiting any golden parachute payment to you during any “CPP Covered Period”. A “CPP Covered
Period” is any period during which (A) you are a senior executive officer and (B) Treasury holds an equity or debt position acquired from the Company in the CPP. 

	 	(2)	Recovery of Bonus and Incentive Compensation. Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by
the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria. 

  

	 	(3)	Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute,
severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). 

 In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and
excessive risks that threaten the value of the Company. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to agree to execute such additional documents as the Company deems necessary
to effect such revisions. 
  

	 	(4)	Definitions and Interpretation. This letter shall be interpreted as follows: 

  

	 	•	 	 “Senior executive officer” means the Company’s “senior executive officers” as defined in subsection 111(b)(3) of EESA.

  

	 	•	 	 “Golden parachute payment” is used with the same meaning as in subsection 111(b)(2)(C) of EESA. 

  

	 	•	 	 “EESA” means the Emergency Economic Stabilization Act of 2008 as implemented by guidance or regulation that has been issued and is in effect as of the
“Closing Date” as defined in the Participation Agreement. 

  

	 	•	 	 The term “Company” includes any entities treated as a single employer with the Company under 31 C.F.R. § 30.1(b) (as in effect on the Closing Date).
You are also delivering a waiver pursuant to the Participation Agreement, and, as between the Company and you, the term “employer” in that waiver will be deemed to mean the Company as used in this letter. 

  

	 	•	 	 The term “CPP Covered Period” shall be limited by, and interpreted in a manner consistent with, 31 C.F.R. § 30.11 (as in effect on the Closing Date).

  

	 	•	 	 Provisions (1) and (2) of this letter are intended to, and will be interpreted, administered and construed to, comply with Section 111 of EESA (and,
to the maximum extent consistent with the preceding, to permit operation of the Benefit Plans in accordance with their terms before giving effect to this letter). 

	 	•	 	 This Agreement will be governed by and construed in accordance with the law of the State of Alabama applicable to contracts made and to be performed entirely within
that state. To the extent permitted by law, you and the Company waive any and all rights to a jury trial with respect to this Agreement and the Benefit Plans. You and the Company further irrevocably submit to the exclusive jurisdiction of any state
or federal court located in Birmingham, Alabama over any contest related to this Agreement and the Benefit Plans. This includes any action or proceeding to compel arbitration or to enforce an arbitration award. Both you and the Company acknowledge
that (a) the forum stated in this Section has a reasonable relation to this Agreement and to the relationship between you and the Company and that the submission to the forum will apply even if the forum chooses to apply non-forum law,
(b) waive, to the extent permitted by law, any objection to personal jurisdiction or to the laying of venue of any action or proceeding covered by this Section in the forum stated in this Section, (c) agree not to commence any such action
or proceeding in any forum other than the forum stated in this Section and (d) agree that, to the extent permitted by law, a final and non-appealable judgment in any such action or proceeding in any such court will be conclusive and binding on
you and the Company. However, nothing in this Agreement precludes you or the Company from bringing any action or proceeding in any court for the purpose of enforcing the provisions of this Section. 

 The Board appreciates the concessions you are making and looks forward to your continued leadership during these financially turbulent times. 

 

			
	Very truly yours,
	
	REGIONS FINANCIAL CORPORATION.
		
	By:	 	  

	Name:	 	
	Title:	 	

 Intending to be legally bound, I agree 
 with and accept the foregoing terms. 
  

					
	  
	 		  	
	[Senior Executive Officer]	 		  	

 WAIVER 
 In
consideration for the benefits I will receive as a result of my employer’s participation in the United States Department of the Treasury’s TARP Capital Purchase Program, I hereby voluntarily waive any claim against the United States or my
employer for any changes to my compensation or benefits that are required to comply with the regulation issued by the Department of the Treasury as published in the Federal Register on October 20, 2008. 
 I acknowledge that this regulation may require modification of the compensation, bonus, incentive and other benefit plans, arrangements, policies and agreements
(including so-called “golden parachute” agreements) that I have with my employer or in which I participate as they relate to the period the United States holds any equity or debt securities of my employer acquired through the TARP Capital
Purchase Program. 
 This waiver includes all claims I may have under the laws of the United States or any state related to the requirements imposed by the
aforementioned regulation, including without limitation a claim for any compensation or other payments I would otherwise receive, any challenge to the process by which this regulation was adopted and any tort or constitutional claim about the effect
of these regulations on my employment relationship. 
  

			
	  
	  	  

	[Senior Executive Officer]	  	[Date], 2008Amended and Restated Supplemental 401(k) Plan

 EXHIBIT 10.58 
 REGIONS FINANCIAL CORPORATION 
 SUPPLEMENTAL 401(k) PLAN 
 Amended and Restated as of April 1, 2008 
 Article I. The Plan 
  

	1.1	Establishment of the Plan 

 The AmSouth Bancorporation Supplemental
Thrift Plan (“AmSouth Plan”) was established for eligible employees effective as of January 1, 1995. As a result of the Merger of AmSouth Bancorporation into Regions Financial Corporation effective November 4, 2006, Regions
Financial Corporation (the “Company”) became the sponsor of the AmSouth Bancorporation Supplemental Thrift Plan. The Company also maintains the Regions Financial Corporation Supplemental 401(k) Plan (“Legacy Regions Plan”). The
Company is hereby merging the Legacy Regions Plan into the AmSouth Plan effective April 1, 2008 and changing the name of the AmSouth Plan to the Regions Financial Corporation Supplemental 401(k) Plan (the “Plan”). 
  

	1.2	Purpose of the Plan 

 Prior to April 1, 2008, the Company
maintained the AmSouth Bancorporation Thrift Plan and the Regions Financial Corporation 401(k) Plan. The Company merged those plans effective April 1, 2008, with the surviving plan being known as the Regions Financial Corporation 401(k) Plan.
This Plan is intended to restore benefits that are cut back as a result of certain legal limits that apply to the Regions Financial Corporation 401(k) Plan. 
 The group of eligible employees shall be limited to a “select group of management or highly compensated employees” within the meaning of ERISA Section 201(2). 
 Benefits provided under this Plan shall be paid solely from the general assets of the Company and participating Affiliates. This Plan, therefore, is exempt from the participation, vesting, funding and fiduciary
requirements of Title I of ERISA. The Company may establish a rabbi trust (the “Trust”) which may be used to pay benefits arising under the Plan and all costs, charges and expenses relating thereto; except that, to the extent that the
funds held in the Trust are insufficient to pay such benefits, costs, charges and expenses, the Company shall pay such benefits, costs, charges and expenses. 
  

	1.3	Applicability of the Plan 

 This Plan applies only to eligible
Employees who were in the active employment of the Company or a participating Affiliate on or after January 1, 1995. The Legacy Regions Plan applied only to employees who were identified as eligible under the terms of that plan on and after
January 1, 2001. The provisions of this amended and restated Plan are effective April 1, 2008, unless a particular provision has a different effective date specified. Notwithstanding the 

  

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foregoing, the provisions of this Plan regarding compliance with Code Section 409A and the regulations thereunder are effective January 1, 2005 (or
such other date as required for compliance with Section 409A). This amendment and restatement shall constitute an amendment of both the Plan and the Legacy Regions Plan for compliance with Code Section 409A. 
 Article II. Definitions 
 Whenever used in the Plan, the following
terms shall have the meanings set forth below unless otherwise expressly provided. When the defined meaning is intended, the term is capitalized. The definition of any term in the singular shall also include the plural. 
  

	2.1	Account 

 Account means the bookkeeping account for each Participant
that represents the Participant’s total interest under the Plan. A Participant’s Account may consist of one or more of the following subaccounts: 
  

	(a)	Salary Reduction Contributions Account means the portion of the Participant’s Account attributable to salary reduction contributions made on the Participant’s behalf,
including any gains and losses credited on such contributions. 

  

	(b)	Matching Contributions Account means the portion of the Participant’s Account attributable to matching contributions made by the Employer on the Participant’s behalf
including any gains and losses credited on such contributions. 

  

	(c)	Employer Contributions Account means the portion of the Participant’s Account attributable to employer contributions made by the Employer on the Participant’s behalf,
including any gains and losses credited on such contributions. 

  

	(d)	Legacy Regions Plan Account means the portion of the Participant’s Account that is attributable to the Participant’s account balance in the Legacy Regions Plan.

  

	(e)	AmSouth Supplemental Thrift Plan Account means the portion of the Participant’s Account attributable to the Participant’s balance in the AmSouth Supplemental Thrift Plan
as of March 31, 2008, including any gains and losses credited on such amount. 

 A Participant’s Legacy Regions Plan Account shall
include any amounts credited to a DC Restoration Plan Account under the Legacy Regions Plan as provided for herein. 
  

	2.2	Affiliate 

 Affiliate means: 
  

	(a)	Regions Financial Corporation (prior to November 4, 2006 with regard to the AmSouth Plan, AmSouth Bancorporation), and 

  

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	(b)	any other entity which, along with the Company, is a member of a controlled group of employers under Code Section 414(b), (c), (m), or (o); provided, however, that Morgan
Keegan & Company, Inc. shall not be considered to be an Affiliate for purposes of coverage under or participation in the Plan or the Legacy Regions Plan and shall only be considered to be an Affiliate to the extent specifically required by
law (e.g., for compliance with the Code Section 409A requirement of separation from service with Affiliates for distributions). 

  

	2.3	Beneficiary 

 Prior to April 1, 2008, a Participant’s
Beneficiary under this Plan shall be the same person or entity designated as the Participant’s beneficiary under the Regions 401(k) Plan (AmSouth Bancorporation Thrift Plan). Effective April 1, 2008, a Participant shall designate a
Beneficiary to receive any benefits due under the terms of this Plan as a result of the death of the Participant on a form and pursuant to the procedures established by the Plan Administrator (including any electronic procedures for such
designation). Legacy Regions Plan participants shall redesignate a Beneficiary under this Plan. If a Legacy Regions Plan participant does not redesignate a Beneficiary, his or her prior designation under the Legacy Regions Plan shall continue in
effect. In the event that either (i) a Participant dies without designating a Beneficiary under this Plan, (ii) no designated Beneficiary survives the Participant, or (iii) the designated Beneficiary(ies) cannot be located after
reasonable efforts as determined by the Plan Administrator, the benefits will be paid to the person or entity designated as the Participant’s beneficiary under the Regions 401(k) Plan. 
  

	2.4	Board 

 Board means the Company’s Board of Directors.

  

	2.5	Change in Control 

 Effective November 4, 2006, “Change in
Control” means any of the following events: 
  

	(a)	the acquisition by any “Person” (as the term “person” is used for the purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)) of direct or indirect beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of the combined voting power of the then-outstanding securities of the Company entitled
to vote in the election of directors (the “Voting Securities”); or 

  

	(b)	 individuals (the “Incumbent Directors”) who, as of the date hereof, constitute the Board of Directors of the Company (the “Board”) cease for any
reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director 

  

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subsequent to the date hereof whose election, or nomination for election, was approved by a vote of at least two-thirds of the Incumbent Directors who are
then on the Board (either by specific vote or by approval, without prior written notice to the Board objecting to the nomination, of a proxy statement in which the individual was named as nominee) shall be an Incumbent Director, unless such
individual is initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to the election or removal of directors (“Election Contest”) or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board (“Proxy Contest”), including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or

  

	(c)	consummation of a merger, consolidation, reorganization, statutory share exchange, or similar form of corporate transaction involving the Company or involving the issuance of shares
by the Company, the sale or other disposition (including by way of a series of transactions or by way of merger, consolidation, stock sale or similar transaction involving one or more subsidiaries) of all or substantially all of the Company’s
assets or deposits, or the acquisition of assets or stock of another entity by the Company (each a “Business Combination”), unless such Business Combination is a “Non-Control Transaction.” A “Non-Control Transaction” is
a Business Combination immediately following which the following conditions are met: 

 (i) the stockholders of
the Company immediately before such Business Combination own, directly or indirectly, more than 55% of the combined voting power of the then-outstanding voting securities entitled to vote in the election of directors (or similar officials in the
case of a non-corporation) of the entity resulting from such Business Combination (including, without limitation, an entity that as a result of such Business Combination owns the Company or all of substantially all of the Company’s assets,
stock or ownership units either directly or through one or more subsidiaries) (the “Surviving Corporation”) in substantially the same proportion as their ownership of the company Voting Securities immediately before such Business
Combination; 
 (ii) at least a majority of the members of the board of directors of the Surviving Corporation were Incumbent
Directors at the time of the Board’s approval of the execution of the initial Business Combination agreement; and 
 (iii) no person other than (A) the Company or any of its subsidiaries, (B) the Surviving Corporation or its ultimate parent corporation, or (C) any employee benefit plan (or related trust) sponsored or maintained by the
Company immediately before such Business Combination beneficially owns, directly or indirectly, 20% or more of the combined voting power of the Surviving Corporation’s then-outstanding voting securities entitled to vote in the election of
directors; or 
 (iv) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

  

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 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any Person (the
“Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the outstanding Voting Securities as a result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities
outstanding, increases the proportional number of shares Beneficially Owned by the Subject Person, provided that if a Change in Control would occur (but for the operation of this sentence) and after such acquisition of Voting Securities by the
Company, the Subject Person becomes the Beneficial Owner of any additional Voting Securities, then a Change in Control shall occur. 
 Prior to
November 4, 2006, a “Change in Control” shall mean: 
  

	(a)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) or 20% or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding
Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (iv) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and
(iii) of subsection (c) below of this section; or 

  

	(b)	Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

  

	(c)	 Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business
Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding
Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 

  

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60% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all
of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding
Company Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan or related trust of the Company or such corporation resulting from such Business
Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting
securities of such corporation except to the extent that the such ownership existed prior to the Business Combination, and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business
Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or the action of the Board, providing for such Business Combination; or 

  

	(d)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  

	2.6	Code 

 Code means the Internal Revenue Code of 1986, as amended, or
as it may be amended from time to time. A reference to a particular section of the Code shall also be deemed to refer to the regulations under that Code section. 
  

	2.7	Company 

 Company means Regions Financial Corporation or any
successor thereto. Prior to November 4, 2006, with regard to the AmSouth Plan, Company means AmSouth Bancorporation, and with regard to the Legacy Regions Plan, Company means Regions Financial Corporation. 
  

	2.8	Compensation 

 Compensation for any Plan Year means a
Participant’s “Compensation” as defined under the Regions 401(k) Plan, without regard to any limits on such Compensation imposed by or for the purpose of complying with Code Section 401(a)(17). Effective January 1, 2009,
Compensation does not include amounts paid by Morgan Keegan. 
  

	2.9	Employee 

 Employee means any person who is employed by the Company
or an Affiliate. 
  

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	(a)	Special Provisions. Effective November 4, 2006, and prior to the merger of the Legacy Regions Plan into the Plan on April 1, 2008, notwithstanding the foregoing,
employees of Regions Financial Corporation and its affiliates including, but not limited to, Morgan Keegan, hired prior to November 4, 2006, and employees hired on and after November 4, 2006 on the Regions PeopleSoft payroll system were
not “Employees” eligible to participate in this Plan (i.e., the AmSouth Plan). Additionally, Participants transferring employment to Morgan Keegan as a result of the merger of AmSouth Bancorporation into Regions Financial Corporation
ceased active participation in this Plan as of the date of the transfer to Morgan Keegan. 

  

	(b)	Special Legacy Regions Plan Provisions. Effective November 4, 2006, and prior to the merger of the Legacy Regions Plan into the Plan on April 1, 2008,
notwithstanding the foregoing, employees of Regions Financial Corporation who were employees of AmSouth Bancorporation and its affiliates as of the merger on November 4, 2006, and employees hired on and after November 4, 2006 on the
AmSouth Cyborg payroll system, were not “Employees” eligible to participate in the Legacy Regions Plan. 

  

	2.10	Employer 

 Employer means the Company and each Affiliate except for
Morgan Keegan. 
  

	2.11	ERISA 

 ERISA means the Employee Retirement Income Security Act of
1974, as amended, or as it may be amended from time to time. A reference to a particular section of ERISA shall also be deemed to refer to the regulations under such section. 
  

	2.12	Legacy Regions Plan 

 Legacy Regions Plan means the Regions
Financial Corporation Supplemental 401(k) Plan established by Regions Financial Corporation effective January 1, 2001, until its merger into this Plan on April 1, 2008. 
  

	2.13	Morgan Keegan 

 Morgan Keegan means Morgan Keegan &
Company, Inc., including any successors thereto. 
  

	2.14	Participant 

 Participant means an Employee of an Employer who has
met, and continues to meet, the eligibility requirements hereof. Participant shall also include any person who has accrued a benefit under the Plan that has neither been forfeited nor fully paid to him. 
  

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	2.15	Plan 

 Plan means this Plan, the Regions Financial Corporation
Supplemental 401(k) Plan (formerly the AmSouth Bancorporation Supplemental Thrift Plan), as amended from time to time. 
  

	2.16	Plan Administrator 

 Plan Administrator means the Benefits
Management Committee and any successor to such Committee. The Benefits Management Committee may delegate any administrative functions to an individual or committee, and any reference to “Plan Administrator” shall refer to such individual
or committee as appropriate. 
  

	2.17	Plan Year 

 Plan Year means the calendar year. 
  

	2.18	Regions 401(k) Plan 

 Regions 401(k) Plan means the Regions
Financial Corporation 401(k) Plan (formerly the AmSouth Bancorporation Thrift Plan), which is a defined contribution profit sharing plan with a cash or deferred arrangement qualified under Code Sections 401(a), (k) and (m), as amended from time
to time. 
  

	2.19	Section 409A. 

 Section 409A means Section 409A of
the Internal Revenue Code and shall include any amendments thereto or successor provisions as well as any applicable current and future regulations, rulings, IRS notices and other binding legal authority interpreting or modifying the legal
requirements under Section 409A. 
  

	2.20	Specified Employee 

 Specified Employee means a specified employee
as defined in Section 409A and shall be determined in accordance with the Company’s general policy for determining specified employees, as such policy may be amended from time to time. 
  

	2.21	Termination of Service 

 Termination of Service means separation
from service as defined in Section 409A. 
  

	2.22	Valuation Date 

 Valuation Date means the last day of each calendar
quarter and any other date that the Plan Administrator selects in its sole discretion for the revaluation and adjustment of Accounts. 
  

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 Article III. Participation 
  

	3.1	Eligibility 

  

	(a)	AmSouth Plan Provisions Prior to January 1, 2008. This subsection shall apply only before January 1, 2008. Any Employee hired on or after January 1, 2007 was
eligible to participate hereunder as of the first day of the month coinciding with or next following the later of the Employee’s date of hire and the date the Employee’s Base Salary equaled or exceeded $175,000. Any Employee hired prior to
January 1, 2007 who was not a Participant on January 1, 2007 was eligible to participate hereunder as of the later of January 1, 2007 or the date the Employee’s Base Salary equaled or exceeded $175,000. Any other Employee became
a Participant on the first day of the month immediately following the date he or she was designated in writing as a Participant in this Plan by the Chief Executive Officer of the Company or his designee. 

  

	(b)	Legacy Regions Plan Provisions Prior to January 1, 2008. Prior to January 1, 2008, an Employee hired by Regions Financial Corporation or its subsidiaries or
affiliates was eligible if the Employee was offered by the Company the opportunity to participate in the Legacy Regions Plan. 

  

	(c)	With regard to the Plan and the Legacy Regions Plan, effective January 1, 2008 any Employee (other than an employee of Morgan Keegan) shall be eligible to participate as of the
January 1 coinciding with or next following the date that the Employee has a base salary that equals or exceeds 200% of the amount set forth in Section 414(q)(1)(B)(i) of the Code, as indexed. Any other Employee shall be a Participant on
the January 1 immediately following the date he or she is designated in writing as a Participant in this Plan by the Chief Executive Officer of the Company or his designee. 

  

					
	(d)	  	(i)	  	Effective November 4, 2006, and prior to the merger of the Legacy Regions Plan into the Plan on April 1, 2008, notwithstanding the foregoing, Employees of Regions Financial Corporation
and its Affiliates including, but not limited to, Morgan Keegan, hired prior to November 4, 2006 and Employees hired on and after November 4, 2006 on the Regions PeopleSoft payroll system were not eligible to participate in this Plan.
Additionally, Participants transferring employment to Morgan Keegan as a result of the merger of AmSouth Bancorporation into Regions Financial Corporation ceased active participation in this Plan as of the date of the transfer to Morgan
Keegan.
			
		  	(ii)	  	Effective November 4, 2006, and prior to the merger of the Legacy Regions Plan into the Plan on April 1, 2008, notwithstanding the foregoing, Employees of Regions Financial Corporation
who were employees of AmSouth Bancorporation and its affiliates as of the merger on November 4, 2006, and Employees hired on and after November 4, 2006 on the AmSouth Cyborg payroll system, were not eligible to participate in the Legacy
Regions Plan.

  

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	3.2	Election of Form of Distribution 

  

	(a)	Upon a Participant’s initial participation in this Plan, a Participant shall make a one-time election of the form of distribution of benefits from the Plan on a form provided
by the Plan Administrator. The election shall be irrevocable (except as otherwise specifically provided for herein). The election may include a different form of benefit to be paid in the event of Termination of Service within two years after a
Change in Control. The Participant must choose to receive benefit distributions at his or her Termination of Service in (i) a lump sum cash payment; (ii) substantially equal annual installments over a period of five years; or
(iii) substantially equal annual installments over a period of 10 years. In each case, payments shall commence within 60 days of the Participant’s Termination of Service (prior to April 1, 2008, within 90 days of the Valuation Date
immediately following the Participant’s Termination of Service). Any Participant who fails to complete and return an election form will be deemed to have irrevocably elected to receive a lump sum distribution, unless the Participant had a prior
election on file. All current Plan Participants may complete an election form by December 31, 2008 to select the form of distribution in effect beginning January 1, 2009 to comply with Section 409A of the Code.

  

	(b)	Notwithstanding the Participant’s distribution election, if the Participant’s vested Account balance at the Participant’s Termination of Service does not exceed the
applicable dollar amount under Code Section 402(g)(1)(B) ($15,500 for 2008), the Participant’s benefits will be paid in a lump sum payment within 60 days of the Participant’s Termination of Service (prior to April 1, 2008, within
90 days of the Valuation Date immediately following the Participant’s Termination of Service). This limit on lump sum payments shall apply to the Legacy Regions Plan effective January 1, 2009. This provision shall apply only if the payment
results in the termination of and liquidation of the entirety of the Participant’s interest under the Plan and all other arrangements treated as a single plan under Treasury Regulation Section 1.409A-1(c)(2). 

  

	(c)	Notwithstanding the foregoing, if a Participant is a Specified Employee at the time of his or her termination of employment, any payments which would otherwise be made because of
the Termination of Service during the first six months following Termination of Service shall not be paid in that period. Rather, any such payments shall be accumulated and paid to the recipient in a lump sum on the first payroll of the seventh
month following the Termination of Service, with continued investment earnings/losses through the date of distribution. All subsequent payments (if any) shall be paid in the manner specified on the election form. Installment payments shall, for this
purpose, be considered a series of separate payments. 

  

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 Article IV. Benefits 
  

	4.1	Salary Reduction Contributions. 

  

	(a)	Salary Reduction Agreement. Each Participant in this Plan may execute a supplemental salary reduction agreement on a form prescribed by the Plan Administrator (including
electronic procedures for such agreements as may be established by the Plan Administrator). On this form the Participant may elect to reduce his or her Compensation for the Plan Year by a whole percentage that does not exceed 80% (25% for years
prior to 2007). The supplemental salary reduction agreement shall be executed prior to the first day of the Plan Year for which it is to be effective, or in the case of a Participant who first becomes eligible to participate in the Plan during the
Plan Year, the supplemental salary reduction agreement shall be executed within 30 days of initial eligibility under this Plan effective for Compensation earned subsequent to the election. The supplemental salary reduction agreement for any Plan
Year shall be irrevocable for such Plan Year. Moreover, prior to January 1, 2008, an election for a Plan Year shall remain in full force and effect for all subsequent Plan Years unless modified or revoked by the Participant in writing to the
Plan Administrator before the first day of the Plan Year for which such modification or revocation is to be effective. With regard to the Legacy Regions Plan, and effective January 1, 2008 with respect to this Plan, a Participant must make a
new election each year (i.e., the prior year’s deferral election will not be deemed to continue in subsequent years). Prior to January 1, 2008, the provisions of the Legacy Regions Plan shall apply with regard to procedures for deferral
elections for the Legacy Regions Plan. 

 Effective January 1, 2007, with regard to “performance-based
Compensation” as defined in the immediately following paragraph, a Participant may execute a supplemental bonus reduction agreement on a form prescribed by the Plan Administrator to elect to reduce his or her performance-based Compensation for
the Plan Year by a whole percentage that does not exceed 80%. Such supplemental bonus reduction agreement must be executed on or before the date that is six months before the end of the performance period, and the Participant must have performed
services continually from the later of (i) the beginning of the performance period, or (ii) the date the performance criteria are established through the date an election is made in accordance with this paragraph. 
 “Performance-based Compensation” is Compensation the amount of which, or the entitlement to which, is contingent on the satisfaction of
pre-established organizational or individual performance criteria (i.e., established in writing by not later than 90 days after the commencement of the period of service to which the criteria relates, provided that the outcome is substantially
uncertain at the time the criteria are established) relating to a performance period of at least 12 consecutive months. Performance-based Compensation will not include any amount or portion of any amount that will be paid either (i) regardless
of performance, or (ii) based upon a level of performance that is substantially certain to be met at the time the criteria are established. The determination of “performance-based Compensation” shall be made in accordance with
Section 409A. 
  

 11 

 A Participant’s salary reduction agreement entered into for the 2008 Plan Year under the Legacy
Regions Plan, prior to the merger, shall remain in effect for the full Plan Year as if made for the Plan. 
  

	(b)	Effectiveness of Salary Reduction Agreement. A Participant’s supplemental salary reduction agreement shall take effect and amounts specified in the supplemental salary
reduction agreement shall begin to be credited to such Participant’s Salary Reduction Contributions Account at such time as the Participant has made the maximum pre-tax elective deferrals to the Regions 401(k) Plan allowed by Code
Section 402(g) or by the provisions of the Regions 401(k) Plan. For this purpose, if the Participant’s deferral election under the Regions 401(k) Plan has changed at any time after the last day of the prior calendar year, the time at which
the supplementary salary reduction agreement takes effect shall be determined as if such change had not been made. Prior to January 1, 2008 with regard to the Legacy Regions Plan, a Participant’s salary reduction agreement became effective
on the first day of the Plan Year. 

  

	(c)	Allocation. Prior to April 1, 2008, salary reduction contributions shall be allocated to the Participant’s Salary Reduction Contributions Account as of the last day
of each calendar quarter within the Plan Year. Effective April 1, 2008, salary reduction contributions shall be allocated to the Participant’s Salary Reduction Contributions Account as soon as practicable following the payroll period from
which the salary reduction contributions are withheld from Compensation. 

  

	4.2	Employer Matching Contributions 

  

	(a)	Eligibility. A Participant shall be credited with matching contributions under this Plan for a Plan Year at such time as the Participant ceases to receive a matching
contribution under the Regions 401(k) Plan, regardless of whether such Participant’s supplemental salary reduction agreement has become effective as provided in Section 4.1 above. Effective January 1, 2007, a Participant shall not be
eligible to receive matching contributions under this Plan until the first day of the month following completion of one Year of Service as defined in the Regions 401(k) Plan. 

  

	(b)	Amount. The amount of matching contributions credited to a Participant’s account under this Plan shall be equal to 100% of the sum of (i) and (ii) below:

  

	 	(i)	the Participant’s unmatched (determined on a per payroll basis) pre-tax elective deferrals made to the Regions 401(k) Plan; and 

  

	 	(ii)	salary reduction contributions credited to the Participant’s account under this Plan pursuant to the Participant’s supplemental salary reduction agreement.

 Provided, however, that (A) no matching contributions shall be made on salary reduction 

  

 12 

 
contributions or deferrals under (i) or (ii) above to the extent that such salary reduction contributions or deferrals determined on an annual
basis (but determined on a per payroll basis prior to January 1, 2007) exceed 6% of the Participant’s Compensation; and (B) nothing in this Section 4.2 shall entitle a Participant to be credited with a matching contribution under
this Plan for any salary reduction contribution or deferral made to the Regions 401(k) Plan prior to the time such Participant has received the maximum matching contributions to the Regions 401(k) Plan allowed under the terms of the Regions 401(k)
Plan. 
 Effective January 1, 2007, matching contributions shall be calculated on an annual basis. In calculating matching contributions
for a Plan Year, salary reduction contributions or deferrals made prior to the first day of the month after a Participant’s completion of one Year of Service (as defined in the Regions 401(k) Plan) shall not be matched. 
  

	(c)	Legacy Regions Plan. Matching contributions with regard to the Legacy Regions Plan prior to April 1, 2008 were made in accordance with such plan.

  

	(d)	Allocations. Prior to April 1, 2008 with regard to the Plan, matching contributions shall be allocated to the Participant’s Matching Contributions Account as of the
last day of each calendar quarter within the Plan Year. With regard to the Legacy Regions Plan prior to April 1, 2008 and to the Plan effective April 1, 2008, matching contributions are credited as soon as practicable following the payroll
period from which the deferral was made. 

  

	(e)	Legacy Regions Plan Vesting. Amounts credited to a Participant’s Legacy Regions Account attributable to pay periods ending prior to January 1, 2005, and earnings
thereon, shall be separately accounted for and shall be vested upon three years of vesting service determined in accordance with the Regions 401(k) Plan (prior to April 1, 2008, the Legacy Regions Financial Corporation 401(k) Plan). Forfeited
matching contributions will be the property of the Company and will remain in the general assets of the Company. Matching contributions attributable to pay periods ending on or after January 1, 2005, and earnings thereon, shall be fully vested
at all times. 

  

	4.3	Employer Contributions 

 For Plan Years beginning on and after
January 1, 2008, the Employer will make an annual employer contribution in accordance with the following. 
  

	(a)	Eligibility. A Participant who was eligible to receive matching contributions for the prior Plan Year, and who is employed by the Company on the first business day of the
year of the employer contribution, shall be eligible to receive employer contributions in accordance with this Section. 

  

	(b)	Amount. The amount of the employer contribution credited to a Participant’s account under this Plan shall be in an amount that is equal to the difference between
(i) and (ii) below: 

  

	 	(i)	the amount of matching contributions (up to 6% of Compensation) the Participant would have received under this Plan for the prior Plan Year if the Participant’s supplemental
salary reduction agreement had been applied to all Compensation for the prior Plan Year earned subsequent to the election and earned on and after the date the supplemental salary reduction agreement became effective; and 

  

 13 

	 	(ii)	the amount of matching contributions the Participant actually received for the prior Plan Year. 

  

	(c)	Allocations. Employer contributions shall be allocated to each Participant’s Employer Contribution Account as soon as administratively feasible, but in no event later
than February 28 (or the next following business day) of the Plan Year. 

  

	(d)	Notwithstanding the foregoing provisions of this Section, no employer contributions will be made in 2008 with regard to Participants in the Legacy Regions Plan.

  

	4.4	Forfeitability of Benefits 

 Except as otherwise specifically
provided for herein, Participants shall have a 100% vested and nonforfeitable right to the balance of their Account under this Plan at all times. 
  

	4.5	Special Provisions Regarding Legacy Regions Plan DC Restoration Plan Account 

 Effective April 1, 2008, the Plan Administrator shall establish and maintain a separate account under the Legacy Regions Plan Account to hold amounts previously credited to the Participant’s DC Restoration
Plan Account under the Legacy Regions Plan for amounts previously transferred from the Regions Financial Corporation Nonqualified Defined Contribution Restoration Plan (the “DC Restoration Plan”). Such accounts may be funded by a Company
contribution in the amount credited to the bookkeeping accounts established and maintained under the DC Restoration Plan. If an account is funded, it may be held in a rabbi trust established and maintained by the Company for the purpose of setting
aside Company assets to pay benefits under top-hat plans such as this Plan. Any such account may be designated a “Legacy Regions Plan DC Restoration Plan Account.” A Legacy Regions Plan DC Restoration Plan Account shall represent the final
value of the DC Restoration Plan bookkeeping accounts, calculated as of May 13, 2002, including earnings thereon. Following establishment of a Legacy Regions Plan DC Restoration Plan Account, earnings on such account shall be determined in the
same manner described herein with respect to a Participant’s Salary Reduction Contributions Account. A Participant’s Legacy Regions Plan DC Restoration Plan Account is an employer contribution account and shall be treated for all purposes
not otherwise specified in this Section in the same manner as a Participant’s matching contributions account under the Legacy Regions Plan. Without otherwise limiting the meaning of the preceding sentence, this shall mean that (i) the

  

 14 

 
Beneficiary of any amounts in a Participant’s Legacy Regions Plan DC Restoration Plan Account shall be the Beneficiary of the Participant as defined
under the Plan; and (ii) in the event of death, disability, retirement or termination of the Participant’s employment with the Company for any reason, the vested portion of a Participant’s Legacy Regions Plan DC Restoration Plan
Account established and maintained pursuant to this Section shall be distributed in accordance of the terms of this Plan. 
 Article V. Accounts;
Unsecured Benefits; Financing 
  

	5.1	Participant Accounts 

 Each contribution credited to a Participant
under Article IV shall be allocated to an individual bookkeeping Account maintained on behalf of that Participant by the Plan Administrator. Each Participant’s Account shall be adjusted for earnings in the manner described in Section 5.2.

  

	5.2	Valuation of Participant Accounts 

  

	(a)	Prior to April 1, 2008 with regard to the Plan, as of each Valuation Date, each Participant’s Account shall be adjusted to reflect earnings as follows: An average of the
Participant’s Account (the “Average Account Balance”) shall be obtained by dividing (a) the sum of (i) the Participant’s Account as of the immediately preceding Valuation Date, and (ii) the Participant’s
Account as of the immediately preceding Valuation Date plus all contributions since the immediately preceding Valuation Date, by (b) two. The Participant’s Average Account Balance shall be multiplied by the Applicable Interest Rate, and
this product shall be added to or subtracted from the Participant’s Account. The. “Applicable Interest Rate” for a Participant shall be the Participant’s personal rate of return in the AmSouth Thrift Plan for the quarter as
reflected on his or her AmSouth Thrift Plan statement for the quarter. If the Participant does not have a balance in the AmSouth Thrift Plan as of the Valuation Date, the Participant’s Account shall be adjusted to reflect earnings by
multiplying the Participant’s Average Account Balance by the average rate of return for the “Stable Principal Fund” in the AmSouth Thrift Plan for the period. 

  

	(b)	 Prior to April 1, 2008, the Legacy Regions Plan and on and after April 1, 2008, the Plan, shall credit earnings on Accounts according to the direction of
the Administrator. The Administrator may follow, in its discretion, investment requests of the Participant, although the Administrator is under no requirement to do so. Investment requests by a Participant must be made in a manner acceptable to the
Administrator. Matching contributions credited to an Account shall be credited with earnings according to the earnings and losses experienced by the Company’s common stock. For this purpose, the experience of a unitized employer stock fund may
be utilized to calculate earnings. Amounts contributed to a Trust may be actually invested in an employer stock fund or another fund requested by the Participant for the purpose of generating earnings to satisfy this Section. The investment choices
under the Plan may be similar to the 

  

 15 

	 	 
investment choices available to participants in the Regions 401(k) Plan. The Participant may request a particular investment of the portion of the amounts
credited to the Participant’s Account as matching contributions into any available investment fund under the Plan. 

  

	5.3	Unsecured Benefits; Financing 

 The benefits under this Plan shall
be paid out of the general assets of the Company (including assets held in the Trust as described in this Section). The Company may establish a rabbi Trust to provide benefits under the Plan. Effective April 1, 2008, in the event of a Change in
Control (as defined in Section 2.5), which is not a Merger of Equals as defined below, a rabbi Trust shall be established. In the event a rabbi Trust is established, the Company shall select an entity to serve as Trustee for the Trust. No
Participant or Beneficiary shall have any interest in any specific asset of any Employer. To the extent that any person acquires a right to receive payments under this Plan, such right shall be no greater than the right of any unsecured general
creditor of any Employer. Nothing contained in this Plan, and no action taken pursuant to the provisions of this Plan, shall create a fiduciary relationship between an Employer and any Participant or Beneficiary or a right of continued employment
for any Participant. 
 Notwithstanding the above, no rabbi trust shall be established or funded if such establishment or funding would result in any
property of such trust being treated as property transferred in connection with the performance of services under Section 409A(b)(3). 
 For purposes of
this Section, a “Merger of Equals” means any Change in Control transaction approved by the Company’s Incumbent Board and specifically designated by the Incumbent Board as a merger of equals. 
 Article VI. Distributions 
  

	6.1	Termination of Service. 

  

	(a)	Upon a Participant’s Termination of Service, the Participant shall be entitled to the vested balance of his or her Account. This balance shall be paid to the Participant
pursuant to the Participant’s election of distribution form (in accordance with Section 3.2) except as specifically provided otherwise herein. 

  

	(b)	 Special temporary provision for Legacy Regions Plan Account. Upon a Participant’s Termination of Service, the Participant’s Legacy Regions Plan
Account shall be distributed as follows. If the amount of the Legacy Regions Plan Account is less than $50,000, the entire amount shall be distributed to the Participant in a single lump sum within 60 days of Termination of Service. If the amount of
the Legacy Regions Plan Account is equal to or greater than $50,000, it shall be distributed in ten annual installments, with the first installment paid within 60 days of Termination of Service, and the remaining installments paid on January 31
of each successive year. Notwithstanding 

  

 16 

	 	 
the above, if the Participant is a Specified Employee at the time of his Termination of Service, the first annual installment (and if applicable, the second
annual installment) or the lump sum, as applicable, shall be paid on the first payroll of the seventh month following Termination of Service, with successive payments made on January 31 of each successive year. Effective January 1, 2009,
payments of the Legacy Regions Plan Account shall be made in accordance with subsection (a) above rather than in accordance with this subsection. 

  

	(c)	Special temporary provision for MIP Deferred Compensation Account. Notwithstanding the above, amounts attributable to the Regions Financial Corporation Optional Deferred
Compensation Plan for Management Incentive Plan Participants (the “MIP Plan”) shall be distributed in accordance with the Participants’ elections under the MIP Plan. Effective January 1, 2009, payments of the MIP Deferred
Compensation Account shall be made in accordance with subsection (a) above rather than in accordance with this subsection. 

  

	6.2	Death of the Participant 

 If the Participant dies before the
distribution of his or her Account is completed, the balance in the Account shall be distributed to the Participant’s Beneficiary in a lump sum cash payment or in 5 or 10 year annual installments based on the form of distribution elected by the
Participant, beginning within 60 days of the Participant’s death (prior to April 1, 2008, within 90 days of the Valuation Date immediately following the Participant’s death). Notwithstanding any election by the Participant, if the
Participant’s balance at the time of his or her death does not exceed the applicable dollar amount under Code Section 402(g)(1)(B) ($15,500 for 2008), the Participant’s benefit shall be paid to his or her Beneficiary in a lump sum
cash payment within 60 days of the Participant’s death (prior to April 1, 2008, within 90 days of the Valuation Date immediately following the Participant’s death). 
  

	6.3	No In-Service Withdrawals 

 A Participant may not receive a
distribution from his or her Account before incurring a Termination of Service. 
 Article VII. Administration 
  

	7.1	Administration 

 The Plan shall be administered by the Plan
Administrator. The Plan Administrator shall have all powers necessary or appropriate to carry out the provisions of the Plan. It may, from time to time, establish rules for the administration of the Plan and the transaction of the Plan’s
business. The Plan Administrator shall have absolute and complete discretionary authority to interpret and administer the Plan and shall have the exclusive right to make any finding of fact necessary or appropriate for any purpose under the Plan
including, but not limited to, the determination of 

  

 17 

 
eligibility for and amount of any benefit. The Plan Administrator shall have the exclusive right to interpret the terms and provisions of the Plan and to
determine any and all questions arising under the Plan or in connection with its administration, including, without limitation, the right to remedy or resolve possible ambiguities, inconsistencies, or omissions by general rule or particular
decision, all in its sole and absolute discretion. To the extent permitted by law, all findings of fact, determinations, interpretations, and decisions of the Plan Administrator shall be conclusive and binding upon all persons having or claiming to
have any interest or right under the Plan. The Plan Administrator may, in its sole and absolute discretion, delegate any of its powers and duties under this Plan to one or more individuals or committees. In such a case, every reference in the Plan
to the Plan Administrator shall be deemed to include such matters within their jurisdiction. The Plan Administrator shall have the right to consult with attorneys and other advisors regarding its duties under this Plan, and such attorney and
advisors may be employed by the Company. 
  

	7.2	Claims Procedure 

 All claims for benefits hereunder, including an
application for a distribution, shall be in writing, signed by the claimant, and shall be mailed or delivered to the Plan Administrator or such individuals as the Plan Administrator has delegated the responsibility of receiving and deciding claims
(hereinafter referred to as the “Claims Administrator”). The Claims Administrator shall make an initial decision on all claims for benefits within 90 days of receipt by the Claims Administrator (or if special circumstances require an
extension of time and written notice thereof is given to the claimant within such 90-day period, then within 180 days of receipt), and except as provided for below with respect to appeals, such initial decision shall be binding. If a claim is wholly
or partially denied, a notice of such decision shall be furnished to the claimant within the periods specified above and shall set forth: (A) the specific reason or reasons for denial; (B) a reference to pertinent Plan provisions upon
which the denial is based; (C) description of information needed to perfect the claim and why such information is needed; and (D) an explanation of the claims review procedure herein. 
 Appeal. If a claimant who has been denied a claim by the Claims Administrator files, within 60 days after his receipt of such denial, a written request for
review, signed by the claimant and setting forth the alleged reasons why his claim was improperly denied, the Claims Administrator shall fully and fairly review such decision and advise the claimant in writing of its decision and the reasons
therefor within 60 days after the Claims Administrator receives such request for review. In connection with such review, the claimant shall have the right to have representation, review pertinent plan documents and submit issues and comments in
writing. In the event of special circumstances, the time for response may be delayed for an additional period of up to 60 days, but written notice thereof must be given to the claimant within the initial 60-day period. In the review process
described above, the claimant shall produce all evidence, documents, information and arguments in favor of his position. The Claims Administrator shall not be required to consider any evidence, documents, information or arguments in favor of the
claimant’s position in its review, other than those that have been brought forth by the claimant in the initial claim and the review process. No claimant may file a lawsuit or bring any other legal action against the Plan, the Company, or any
fiduciary with respect to any claim until completing the review process. 
  

 18 

 Review of Interpretations. If a Participant or other party believes himself or his Beneficiary to be adversely
affected by an interpretation or construction of any provision of the Plan made by the Plan Administrator, other than the denial of a benefit claim, such Participant or other party may submit a written request for full and fair review of such
interpretation or construction to the Claims Administrator. The Claims Administrator, or if appropriate, the Plan Administrator, shall within a reasonable time fully and fairly review such interpretation and construction and reach a decision
thereon, following the procedures set forth above. All rules governing the claims review process shall apply to a request for review of an interpretation under this paragraph. 
  

	7.3	Tax Withholding 

 The Employer may withhold from any payment under
this Plan any federal, state, or local taxes required by law to be withheld with respect to the payment and any sum the Employer may reasonably estimate as necessary to cover any taxes for which it may be liable and that may be assessed with regard
to the payment. 
  

	7.4	Expenses 

 All expenses incurred in the administration of the Plan
shall be paid by the Company. In determining investment returns from investment of funds that constitute employer general assets, expenses related to such investments may be deducted in determining such returns. 
 Article VIII. Adoption by Affiliates, Amendment and Termination 
 8.1 Adoption of the Plan by Affiliate 
 All Affiliates of the Company (but specifically excluding Morgan Keegan) are deemed to have adopted
this Plan as of the later of (i) the effective date of this Plan, or (ii) the date of such Affiliate’s affiliation with the Company. 
  

	8.2	Amendment and Termination 

 This Plan may at any time or from time
to time be amended or terminated. No amendment, modification or termination shall adversely affect the Participant’s rights under this Plan to receive benefits already credited to his or her Account, except to the extent necessary to comply
with any applicable law, and further provided that the Plan may be amended to change the time and form of payment of such benefits, or the investments available with respect to crediting of investment earnings or interest, as necessary for
compliance with Section 409A or for other administrative reasons. 
  

 19 

 Article IX. Miscellaneous Provisions 
  

	9.1	Nonalienation 

 No benefit payable under the Plan shall be subject
in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge shall be void. Benefits shall not be in any manner
subject to the debts, contracts, liabilities, engagements, or torts of, or claims against, any Participant or Beneficiary, including claims of creditors, and any other like or unlike claims. The preceding shall not apply to the creation, assignment,
or recognition of a right to any benefit payable with respect to a Participant pursuant to a Qualified Domestic Relations Order. 
  

	9.2	Distribution For Minors and Incompetents 

 In making any
distribution to or for the benefit of any minor or incompetent person, the Plan Administrator, in its sole and absolute discretion, may, but need not, direct such distribution to a legal or natural guardian or other relative of such minor or court
appointed committee of such incompetent, or to any adult with whom such minor or incompetent temporarily or permanently resides, and any such guardian, committee, relative or other person shall have full authority and discretion to expend such
distribution for the use and benefit of such minor or incompetent. The receipt by such guardian, committee, relative or other person shall be a complete discharge to the Company without any responsibility on its part or on the part of the Plan
Administrator to see to the application thereof. 
  

	9.3	Severability 

 If any provision of this Plan shall be held illegal
or invalid, the illegality or invalidity shall not affect its remaining parts. The Plan shall be construed and enforced as if it did not contain the illegal or invalid provision. 
  

	9.4	Applicable Law 

 Except to the extent preempted by applicable
federal law, this Plan shall be governed by and construed in accordance with the laws of the state of Alabama. The Plan is intended to comply with Section 409A and any ambiguity hereunder shall be interpreted in such a way as to comply, to the
extent necessary, with Section 409A or to qualify for an exemption from Section 409A 
  

 20 

 APPENDIX A 
 PRIOR ELIGIBILITY RULES 
 FOR THE PLAN (AMSOUTH PLAN) 
  

	(a)	Any Employee who was eligible to participate in the AmSouth Bancorporation Thrift Plan and whose annual base salary, including amounts not currently includible in gross income under
Code Sections 125, 401(k) or 402(a)(8), but excluding special pay, bonuses, commissions or other incentive pay, reimbursement for expenses, special supplements for automobile or club dues, and the Prior Profit Sharing Plan Bonus (“Base
Salary”) as of January 1, 1995 was equal to or greater than $150,000, became a Participant in this Plan as of January 1, 1995. 

  

	(b)	Prior to July 1, 2004, any other Employee who was eligible to participate in the AmSouth Bancorporation Thrift Plan and whose annual base salary including amounts not currently
includible in gross income under Code Sections 125, 401(k) or 402(a)(8), but excluding special pay, bonuses, commissions or other incentive pay, reimbursement for expenses, special supplements for automobile or club dues, and the Prior Profit
Sharing Plan Bonus (“Base Salary”) was equal to or greater than $150,000 as of January 1 became a Participant in this Plan as of that January 1. Prior to July 1, 2004, any employee hired during the year whose Base Salary was
equal to or greater than $150,000 on the date of hire became a Participant immediately. After January 1, 2004 and prior to July 1, 2004, any Employee who was employed prior to January 1, 2004 whose salary was equal to or greater than
$150,000 but less than $175,000 and who was not a Participant in the Plan on January 1, 2004 became a Participant on January 1, 2005. Notwithstanding the foregoing, any person who became an Employee on or after July 1, 2004, and any
person who was an Employee prior to July 1, 2004 who was eligible to participate in the AmSouth Bancorporation Thrift Plan as of July 1, 2004 and whose Base Salary (as defined above in this paragraph) was not equal to or greater than
$150,000 as of July 1, 2004 became a Participant in this Plan as of the January 1 following the date that his or her Base Salary equaled or exceeded $175,000. Effective July 1, 2004, any employee hired during the year whose Base
Salary was equal to or greater than $175,000 on the date of hire became a Participant immediately. Any Employee who was not a Participant on January 1, 2006 and any Employee hired on or after January 1, 2006 became eligible to participate
hereunder as of the first day of the month coinciding with or next following the later of the Employee’s completion of one Year of Service and the date the Employee’s Base Salary equals or exceeds $175,000.

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