Document:

exv10w6

Exhibit 10.6

			
	 	 	 
	 	 	         
Shares

2010 NONEMPLOYEE DIRECTOR

RESTRICTED STOCK AGREEMENT

          This 2010 Nonemployee Director Restricted Stock Agreement (this “Agreement”) is between
Oceaneering international, inc. (the “Company”) and             (the “Participant”), a nonemployee
Director, regarding an award (“Award”) of            shares of Common Stock (as defined in
the 2005 Incentive plan of oceaneering international, inc. (the “Plan”), such Common Stock
comprising this Award referred to herein as “Restricted Stock”) awarded to the Participant
effective February 19, 2010 (the “Award Date”), such number of shares subject to adjustment as
provided in Section 15 of the Plan, and further subject to the following terms and conditions:

     1.
Relationship to Plan. This Award is subject to all of the terms, conditions and provisions of the
Plan and administrative interpretations thereunder, if any, which have been adopted by the Board
thereunder and are in effect on the date hereof. Except as defined or otherwise specifically
provided herein, capitalized terms shall have the same meanings ascribed to them under the Plan.

     2.
Vesting and Lapse of Restrictions.

     (a) All shares of Restricted Stock subject to this Award shall vest in full (and all
restrictions thereon shall lapse) on the first anniversary of the Award Date, provided the
Participant is a Director on such anniversary.

     (b) All shares of Restricted Stock (and any substitute security and cash component
distributed in connection with a Change of Control) subject to this Award shall vest in full
(and all restrictions thereon shall lapse), irrespective of the provision set forth in
subparagraph (a) above, provided that the Participant has been in continuous service as a
Director since the Award Date, upon the earlier to occur of:

     (i) the Participant’s death; or

     (ii) a Change of Control.

     (c) For purposes of this Agreement:

     (i) “Change of Control” means:

     (A) any Person is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Securities Exchange Act of 1934, as amended and the rules
and regulations promulgated thereunder), directly or indirectly, of
securities of the Company representing 20% or more of the combined voting
power of the Company’s outstanding Voting
Securities, other than through the purchase of Voting Securities
directly from the Company through a private placement; or

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     (B) individuals who constitute the Board on the date hereof (the
“Incumbent Board”) cease for any reason to constitute at least a majority
thereof, provided that any person 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 two-thirds of the Directors
comprising the Incumbent Board shall from and after such election be deemed
to be a member of the Incumbent Board; or

     (C) the Company is merged or consolidated with another corporation or
entity and as a result of such merger or consolidation less than 60% of the
outstanding Voting Securities of the surviving or resulting corporation or
entity shall then be owned by the former shareholders of the Company; or

     (D) a tender offer or exchange offer is made and consummated by a
Person other than the Company for the ownership of 20% or more of the Voting
Securities of the Company then outstanding; or

     (E) all or substantially all of the assets of the Company are sold or
transferred to a Person as to which:

     (1) the Incumbent Board does not have authority (whether by law
or contract) to directly control the use or further disposition of
such assets; and

     (2) the financial results of the Company and such Person are not
consolidated for financial reporting purposes.

     (F) Anything else in this definition to the contrary notwithstanding:

     (1) no Change of Control shall be deemed to have occurred by
virtue of any transaction which results in the Participant, or a
group of Persons which includes the Participant, acquiring more than
20% of either the combined voting power of the Company’s outstanding
Voting Securities or the Voting Securities of any other corporation
or entity which acquires all or substantially all of the assets of
the Company, whether by way of merger, consolidation, sale of such
assets or otherwise; and

     (2) no Change of Control shall be deemed to have occurred unless
such event constitutes an event specified in Code Section
409A(2)(A)(v) and the Treasury regulations promulgated thereunder.

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     (ii) “Person” means, any individual, corporation, partnership, group,
association or other “person,” as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended, and the related
rules and regulations promulgated thereunder.

     (iii) “Voting Securities” means, with respect to any corporation or
other business enterprise, those securities, which under ordinary
circumstances are entitled to vote for the election of directors or others
charged with comparable duties under applicable law.

     3. Forfeiture of Award. If the Participant’s service as a Director terminates under any circumstances
(except those provided in Paragraph 2 of this Agreement or in any other written agreement between
the Participant and the Company which provides for vesting of the Restricted Stock granted hereby),
all unvested Restricted Stock as of the termination date shall be forfeited.

     4. Registration of Shares. The Participant’s right to receive the Restricted Stock shall be evidenced
by book entry registration (or by such other manner as the Committee may determine) at the
beginning of the Restriction Period. Upon termination of the Restriction Period, a certificate
representing such shares shall be delivered upon written request to the Participant as promptly as
is reasonably practicable following such termination.

     5. Code Section 83(b) Election. The Participant shall be permitted to make an election under Code
Section 83(b), to include an amount in income in respect of the Award of Restricted Stock in
accordance with the requirements of Code Section 83(b).

     6. Dividends and Voting Rights. The Participant is entitled to receive all dividends and other
distributions made with respect to Restricted Stock registered in his name and is entitled to vote
or execute proxies with respect to such registered Restricted Stock, unless and until the
Restricted Stock is forfeited.

     7. Delivery of Shares. The Company shall not be obligated to deliver any shares of Common Stock if
counsel to the Company determines that such sale or delivery would violate any applicable law or
any rule or regulation of any governmental authority or any rule or regulation of, or agreement of
the Company with, any securities exchange or association upon which the Common Stock is listed
or quoted. The Company shall in no event be obligated to take any affirmative action in order to
cause the delivery of shares of Common Stock to comply with any such law, rule, regulation or
agreement.

     8. Notices. Unless the Company notifies the Participant in writing of a different procedure, any
notice or other communication to the Company with respect to this Agreement or the Plan shall be in
writing addressed to the Corporate Secretary of the Company and shall be: (a) by registered or
certified United States mail, postage prepaid, to 11911 FM 529, Houston, Texas 77041-3011; or (b)
by hand delivery or otherwise to 11911 FM 529, Houston, Texas 77041-3011. Any such notice shall be
deemed effectively delivered or given upon receipt.

          Notwithstanding the foregoing, in the event that the address of the Company’s principal
executive offices is changed prior to the date of any settlement of this Award, notices shall
instead be made pursuant to the foregoing provisions at the then current address of the Company’s
principal executive offices.

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          Any notice or other communication to the Participant with respect to this Agreement or the
Plan shall be given in writing and shall be deemed effectively delivered or given upon receipt or,
in the case of notices mailed by the Company to the Participant, five days after deposit in the
United States mail, postage prepaid, addressed to the Participant at the address specified at the
end of this Agreement or at such other address as the Participant hereafter designates by written
notice to the Company.

     9. Assignment of Award. Except as otherwise permitted by the Committee and as provided in the
immediately following paragraph, the Participant’s rights under the Plan and this Agreement are
personal, and no assignment or transfer of the Participant’s rights under and interest in this
Award may be made by the Participant other than by a domestic relations order. This Award is
payable during his lifetime only to the Participant, or in the case of a Participant who is
mentally incapacitated, this Award shall be payable to his guardian or legal representative.

          The Participant may designate a beneficiary or beneficiaries (the “Beneficiary”) to whom the
Award under this Agreement, if any, will pass upon the Participant’s death and may change such
designation from time to time by filing with the Company a written designation of Beneficiary on
the form attached hereto as Exhibit A, or such other form as may be prescribed by the Committee;
provided that no such designation shall be effective unless so filed prior to the death of the
Participant and no such designation shall be effective as of a date prior to receipt by the
Company. The Participant may change his Beneficiary without the consent of any prior Beneficiary
by filing a new designation with the Company. The last such designation that the Company receives
in accordance with the foregoing provisions will be controlling. Following the Participant’s
death, the Award, if any, will pass to the designated Beneficiary and such person will be deemed
the Participant for purposes of any applicable provisions of this Agreement. If no such
designation is made or if the designated Beneficiary does not survive the Participant’s death, the
Award shall pass by will or, if none, then by the laws of descent and distribution.

     10. Withholding. The Company’s obligation to deliver shares of Restricted Stock to the
Participant upon the vesting of such shares shall be subject to the satisfaction of all applicable
withholding requirements including those related to federal, state and local income and employment
taxes (the “Required Withholding”). The Company may withhold from the Restricted Stock that would
otherwise have been delivered to the Participant the number of shares necessary to satisfy the
Participant’s Required Withholding, and deliver the remaining shares of Restricted Stock to the
Participant, unless the Participant has made arrangements with the Company for the Participant to
deliver to the Company cash, check, other available funds or shares of previously owned Common
Stock for the full amount of the Required Withholding by 5:00 p.m. Central Standard Time on the
date the shares of Restricted Stock become vested. The amount of the Required Withholding and the
number of shares to satisfy the Participant’s Required Withholding shall be based on the Fair
Market Value of the shares on the date prior to the applicable date of vesting.

     11. Stock Certificates. Any certificate representing the Common Stock issued pursuant to the Award
will bear all legends required by law and necessary or advisable to effectuate the provisions of
the Plan and this Award. The Company may place a “stop transfer”

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order against shares of the
Common Stock issued pursuant to this Award until all restrictions and conditions set forth in the
Plan or this Agreement and in the legends referred to in this Section 11 have been complied with.

     12. Successors and Assigns. This Agreement shall bind and inure to the benefit of and be
enforceable by the Participant, the Company and their respective permitted successors and assigns
(including personal representatives, heirs and legatees), except that the Participant may not
assign any rights or obligations under this Agreement except to the extent and in the manner
expressly permitted in Section 9 of this Agreement.

     13. No Service as Director Guaranteed. No provision of this Agreement shall confer any right upon the
Participant to continued service with the Company as a Director.

     14. Code Section 409A Compliance. This Award is intended to satisfy the requirements of Section 409A
of the Code or alternatively, the short-term deferral exclusion under Section 409A of the Code and
related regulations and Treasury pronouncements.

     15. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with the
laws of the State of Texas, excluding any choice of law provision thereof that would result in the
application of the laws of any other jurisdiction.

     16. Amendment. Except as set forth herein, this Agreement cannot be modified, altered or amended
except by an agreement, in writing, signed by both the Company and the Participant.

	 	 	 	 	 	 	 
	 	 	OCEANEERING INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 
	Award Date: February 19, 2010

	 	By:	 	 	 	 
	 

	 	 	 	 
 	 	 

          The Participant hereby accepts the foregoing 2010 Nonemployee Director Restricted Stock
Agreement, subject to the terms and provisions of the Plan and administrative interpretations
thereof referred to above.

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	PARTICIPANT:	 	 
	 
	 	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Participant’s Address:	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 

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Exhibit A to 2010 Nonemployee Director

Restricted Stock Agreement

Designation of Beneficiary

          I,                                          (“Participant”), hereby declare that upon my death,
                                         (the “Beneficiary”) of                               
                               (address), who is my
                                                             (relationship), will be entitled to the Award which may become payable
under the Plan and all other rights accorded the Participant under the Participant’s 2010
Nonemployee Director Restricted Stock Agreement (capitalized terms used but not defined herein have
the respective meanings assigned to them in such agreement).

          It is understood that this designation of Beneficiary is made pursuant to the Agreement and is
subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If
any such condition is not satisfied, such rights shall devolve according to the Participant’s last
will and testament, or if none, then the laws of descent and distribution.

          It is further understood that all prior designations of beneficiary under the Agreement are
hereby revoked upon the filing of this designation with the Company. This designation of
Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate
Secretary of the Company prior to the Participant’s death.

	 	 	 	 	 
	 
	 

	 	 

Participant
	 	 
	 
	 
	 	 	 	 
	 

	 	 

Date
	 	 

Page 6 of 6exv10w7

Exhibit 10.7

JPMorgan Chase & Co.

Excess Retirement Plan

Restated and Amended as of December 31, 2008, as amended

preamble

     The purpose of this Plan is to provide an alternate means of paying benefits precluded by
operation of law to certain designated executives and employees participating in the JPMorgan Chase
Retirement Plan (“Retirement Plan”). The Plan is a non-qualified, unfunded deferred compensation
arrangement. It is not subject to Section 401 of the Internal Revenue Code (“Code”). Further it
is, generally, not subject to the Employee Retirement Income Security Act.

     Effective December 31, 2004, liabilities accrued under the Bank One Corporation Supplemental
Personal Pension Account Plan (“Supplemental Plan”) were transferred to this Plan and became
subject to this Plan’s rules, except as otherwise noted. Participants in the Supplemental Plan who
made valid distributions election prior to January 1, 2005 or prior to January 1, 2009 (if they had
not incurred a Separation from Service prior to January 1, 2009), with respect to their entire
Accrued Benefit that take effect on a Separation from Service shall have those election honored,
notwithstanding anything in the Plan to the contrary.

     The Plan has been interpreted and operated in good faith compliance with Section 409A and
Internal Revenue Service Notice 2005-1 through from January 1, 2005 through December 31, 2008. The
plan for that period consists of various employee communications, election and distribution forms,
internal procedures and the plan document prior to its amendment and restatement to the extent
not inconsistent with the foregoing documents and a good faith interpretation Section 409A.

     Effective December 31, 2008, this Plan has been amended to reflect changes in tax laws as
mandated by Section 409A of the Code. It shall be interpreted in such a manner as to comply
with Section 409A.

     The terms and conditions of this Plan prior to its amendment, as well as the Supplemental
Plan, shall continue to apply to vested amounts accrued prior to January 1, 2005 with respect to
Participants whose employment terminated prior to January 1, 2005 and who accrued no further
benefits under the Plan on or after January 1, 2005 (other than interest credits on outstanding
balances).

 

 

ARTICLE 1

DEFINITIONS

     The following are defined terms wherever they appear in the Plan:

     1.1 “Account” shall have the meaning ascribed thereto under Section 3.1.

     1.2 “Administrator” shall mean the individual appointed by Board who shall be responsible for
those functions assigned to him under the Plan.

     1.3 “Alternate Benefit” shall have the meaning ascribed thereto under the Retirement Plan.

     1.4 “Bank” shall mean JPMorgan Chase Bank National Association.

     1.5 “Beneficiary” shall have the meaning ascribed thereto under the Retirement Plan.

     1.6 “Board” shall mean the Board of Directors of the Bank or of the Corporation; provided
that any action taken by a duly authorized committee of the Board (including any action pursuant to
Article VII) within the scope of authority delegated to it by the Board shall be considered an
action of the Board for purposes of this Plan.

     1.7 “Code” shall mean the Internal Revenue Code of 1986.

     1.8 “Committee” shall mean the Compensation and Management Development Committee of the Board
or successor committee.

     1.9 “Compensation Limit” shall mean the dollar limitation imposed by Section 401(a)(17) of
the Code on the amount of Eligible Compensation taken into account in computing benefits under the
Retirement Plan. By way of clarification, it shall not have any application to the benefit accrued
by Grandfathered Morgan Participant under the Retirement Plan whose Retirement Benefit shall be
subject to a Compensation Limit of $150,000.

     1.14 “Corporation” shall mean JPMorgan Chase & Co.

     1.15 “Credit Balance” shall have the meaning ascribed thereto under the Retirement Plan.

     1.16 “Deferred Compensation Program” shall mean the 2005 Deferred Compensation Plan of
JPMorgan Chase & Co.

     1.17 “Eligible Compensation” shall have the meaning ascribed thereto by the Retirement Plan;
provided that for purposes of this Plan, such Eligible Compensation in any calendar year shall be
not more than $1 million; provided further that Eligible Compensation based on draw, commissions
in excess of draw or production overrides

 

 

shall be further limited to the (i) Compensation Limit for any calendar year, or (ii) in the case
of Employees assigned to the Chase Home Finance division or successor business unit, 50% of the
Compensation Limit for any calendar year.

     1.18 “Employee” shall mean an individual who is an employee of an Employer and a participant
accruing benefits under the Retirement Plan. By way of clarification, individuals who are not
classified as employees of an Employer for purposes of its payroll system, including, without
limitation, individuals employed by temporary help firms or other staffing firms or who are treated
as independent contractors by the Employer (whether or not deemed to be common law employees or
leased employees), are not “Employees.” In addition, in the event that any individual is
re-classified as an employee for any purpose by any action of any third party or as a result of any
lawsuit, action or administrative proceeding, such individual shall not be deemed an “Employee”
under the Plan.

     1.19 “Employer” shall have the meaning ascribed thereto under the Retirement Plan.

     1.20 “Final Average Pay Formula” shall mean a formula (other than a cash balance formula or
the Alternate Benefit formula) under the Retirement Plan.

     1.21 “Final Pay Benefit” shall mean a participant’s Retirement Benefit derived from a Final
Average Pay Formula pursuant to which a participant in the Retirement Plan was accruing a benefit
immediately prior to his/her Separation from Service.

     1.22 “Grandfathered Chase Participant” shall have the meaning ascribed thereto under the
Retirement Plan.

     1.23 “Grandfathered Morgan Participant” shall have the meaning ascribed thereto under the
Retirement Plan.

     1.24 “Heritage Morgan Cash Balance Plan” shall mean the Cash Balance Plan of Morgan Guaranty
Trust Company of New York and Affiliated Companies for United States Employees as in effect
immediately prior to its merger into the Retirement Plan.

     1.25 “Interest Credit” shall have the meaning ascribed thereto under the Retirement Plan.

     1.26 “Minimum Benefit” shall mean a Retirement Benefit derived from a Final Average Pay
Formula that was frozen. By way of clarification, this is a formula under which a Participant had
accrued benefits but was no longer actively accruing benefits immediately prior to the date of
his/her Separation from Service, provided that it shall not include the Morgan Benefit or a
frozen benefit based on an interest rate or actuarial factors.

2

 

     1.27 “Morgan Benefit” shall mean a frozen benefit payable under the Retirement Plan to
individuals who became Employees of Participant Companies after January 1, 2001 which benefit was
derived from a Final Average Pay formula utilized by the Retirement Plan of Morgan Guaranty Trust
Company of New York and Affiliated Companies for United States Employees.

     1.29 “Morgan Employee” shall mean any individual employed by any member of the controlled
group of corporations having J.P. Morgan & Co as the parent corporation.

     1.30 “Participant” shall mean each Employee of an Employer who participates in the Plan in
accordance with the terms and conditions set forth herein.

     1.31 “Participating Company” shall mean (a) the Bank and (b) each Employer, which has been
authorized by the Administrator to participate in the Plan and has agreed to comply with the
provisions of the Plan.

     1.32 “Pay-Based Credit” shall have the meaning ascribed thereto under the Retirement Plan;
provided that it shall not include the special 3% pay credit provided to certain Morgan Employees
under the Retirement Plan.

     1.33 “Period of Service” shall have the meaning ascribed thereto under the Retirement Plan.

     1.34 “Plan” shall mean the JPMorgan Chase Excess Retirement Plan, as amended and restated
January 1, 2005.

     1.35 “Prior Morgan Plan” shall mean the Retirement Plan of Morgan Guaranty Trust Company of
New York and Affiliated Companies for United States Employees

     1.36 “Qualified Participant” means a participant who (i) incurred a Separation from Service
on or after January 1, 2005 and on or before December 31, 2005 and (ii) accrued a benefit hereunder
on or after January 1, 2005.

     1.37 “Retirement Benefits” shall mean the Credit Balance of the Account of a Participant under
the Retirement Plan, or such other greater benefit that may be payable to the Participant under the
Retirement Plan, such as the Alternative Benefit, Minimum Benefits, Morgan Benefit Final Average
Pay Benefit, either case measured as of the Participant’s date of Separation from Service.

     1.38
“Retirement Plan” shall mean the JPMorgan Chase Retirement Plan, as amended from time to
time.

     1.39 “Separation from Service” has the meaning set forth in the JPMorgan Chase 2005 Deferred
Compensation Plan, including the definition of Related Company.

3

 

     1.40 “Specified Employee” has the meaning set forth in the JPMorgan Chase 2005 Deferred
Compensation Plan.

     1.41 “Supplemental Plan” shall mean the Supplemental Personal Pension Account Plan of Bank
One Corporation.

     1.42 “Transition Interest Credit” shall have the meaning ascribed thereto by the Retirement
Plan.

4

 

Article II

Participation

     2.1 Eligibility for Credit Balance. Any Employee whose Eligible Compensation exceeds
the Compensation Limit during any calendar year in which he or she is a participant in the
Retirement Plan shall be a Participant as of such date with respect to the benefits described in
Article III.

     2.2 Section 415 Limits. If, as of the date that an Employee incurs a Separation from
Service, an Employee’s distribution of Retirement Benefits would be subject to the limitations of
Section 415 of the Code (whether or not a distribution of such benefits was made on such date),
such Employee, if not already a Participant, shall be a Participant as of the date of such
distribution and shall be eligible for the benefits described in Section 3.5.

5

 

Article III 

Benefits

     3.1 Pay-Based Credits. (a) Each Participant described in Section 2.1 whose Eligible
Compensation in any calendar month exceeds the monthly Compensation Limit shall have an amount
credited to an Account under the Plan equal to the excess of the (i) amount of the Pay-Based
Credit that would have been accrued under the Retirement Plan (based on the amount of Eligible
Compensation recognized under this Plan) but for the application of such Compensation Limit for
such calendar month over (ii) amount of the Pay-Based Credit actually credited under the
Retirement Plan for such calendar month. By way of clarification, if an individual is receiving
additional Pay-Based Credits under the Retirement Plan as a result of their service with Banc One
Corporation, First Commerce Corporation or their subsidiaries, those credits shall be Pay-Based
Credits for purposes of this Plan. As of May 1, 2009, there shall be no further accruals of
Pay-Based Credits under this Section based on Eligible Compensation that consists of base pay. For
avoidance of doubt, Participants described in Section 3.1(e) shall continue to accrue Pay-Based
Credits in accordance with the provisions in Section 3.1(e) until the date set forth therein.

     (b) Interest Credits. The Account of a Participant shall be credited with the
Interest Credits that would have been provided under the Retirement Plan but for the Compensation
Limit’s application to the Pay-Based Credits (but based on the amount of Eligible Compensation
recognized under this Plan). Any amounts attributable to the Prior Service Balance as defined in
the Retirement Plan shall receive Transition Interest Credits as defined in the Retirement Plan
until such date as it ceases under the Retirement Plan.

     (c) Account. A bookkeeping account shall be established in the name of each
Participant to which the applicable Pay-Based, Interest and Transition Interest Credits shall be
recorded.

	 	(d)	 	Prior Accruals. If a Participant has accrued a Credit Balance with
respect to this Plan prior to its amendment and restatement as of January 1, 2005, or
the Supplemental Plan prior to January 1, 2005 and incurs a Separation from Service
after January 1, 2005, such Credit Balance shall be part of his Account. By way of
clarification, this Plan does not provide any benefits for periods of employment prior
to January 1, 2002 to any individual who was a Member of the Heritage Morgan Cash
Balance Plan or had an undistributed vested benefit under the Prior Morgan Plan,
except as provided in Section 3.5 dealing with Code Section 415 limitations. By way
of further clarification, an individual who was a participant in the Supplemental Plan
shall have a Credit Balance benefit not in excess of the amount accrued on his/her
behalf under the Supplemental Plan as of December 31, 2004.

6

 

	 	(e)	 	Commission Paid Participants. This Section ceased to be in effective
as of December 31, 2009 and all accruals (other than interest credits) ceased on
that date for the Participants described in the next succeeding sentence.
Notwithstanding anything herein to the contrary (except for the preceding sentence),
Participants whose Eligible Compensation consists of draw, commissions in excess of
draw or production overrides shall receive monthly Pay-Based Credits (as describe in
Section 3.1(a) based on such Eligible to the extent that it exceeds one twelfth of
the Compensation Limit for such month; provided that the aggregate amount of Eligible
Compensation recognized under this Plan and the Retirement Plan for Pay-Based Credits
for any such Participant shall not exceed the Compensation Limit in effect for the
relevant calendar year.

     3.2 Benefit Determined as of the Date of Separation from Service. Except as otherwise
provided in Section 5.1(b), all such calculations/determinations under Sections 3.3, 3.4 and 3.5
shall be made as of the date that a Participant incurs a Separation from Service. The Participant
is deemed to have elected receipt of his/her Retirement Benefit on such date. The benefit payable
hereunder shall not be affected by the amount actually distributed to the Participant from the
Retirement Plan. Any amount due under Section 3.3, 3.4 and 3.5 shall accrue Interest Credits up to
the Distribution Date, as defined in the Retirement Plan.

     3.3
Final Average Pay Benefit, Alternative Benefit or Minimum
Benefit. If it is
determined that a Final Average Pay Benefit, Alternative Benefit or Minimum Benefit (other than
Morgan Benefit) would be payable to a Participant under the Retirement Plan on a Separation from
Service, then such Participant’s benefit under this Plan, if any, shall equal the excess of (i) the
amount of the Retirement Benefit that would have been accrued under Final Average Pay Formula,
Minimum Benefit or Alternative Benefit of the Retirement Plan ((based on the amount of Eligible
Compensation recognized under this Plan for service/accruals after December 31, 2004) but for the
application of such Compensation Limit over (ii) the amount actually accrued under the Retirement
Plan; and any other amount due under this Plan, including the benefit under Section 3.1, shall be
forfeited, except for the amount specified in Section 3.5 so long as it is not duplicative of any
amount required under another plan or program maintained by the Employer.

     3.4 Morgan Benefit. If it is determined that, as of the date of Separation from
Service, a Grandfathered Heritage Morgan Participant would receive his/her Retirement Benefit in
the form of Morgan Benefit, then such Participant shall be entitled to receive an amount as a lump
sum, if any, from this Plan equal to the excess of (i) the sum of his/her Credit Balances under
the Retirement Plan and Section 3.1 of this Plan over (ii) his/her lump sum value of his/her
Retirement Benefit. Any amounts under Section 3.1 in excess of the amount payable under this
Section 3.4 shall be forfeited. In addition, if the amount of the Minimum Benefit for a
Grandfathered Heritage Morgan Participant has

7

 

been limited pursuant to amendments to the Retirement Plan limiting early retirement benefits for
certain highly compensated Grandfathered Heritage Morgan Participants, then the amount so limited
shall be payable hereunder.

     3.5 Excess Benefits. If it is determined that, as of the Separation from Service, any
distribution of Retirement Benefits would be reduced by application of the limitations of
Section 415 of the Code shall receive an amount equal to the excess of the (i) Retirement Benefits
without application of Section 415 of the Code over (ii) amount actually payable under the
Retirement Plan; provided that once a benefit is determined in accordance with Section 3.2, no
adjustment shall be made for changes to Section 415 of the Code.

     3.6 Aggregate. Notwithstanding anything in this Article III to the contrary, the
total value of the benefits to be received under the Plan when combined with the Retirement
Benefits (measured as of the date of Separation from Service) shall never exceed the value of the
Retirement Benefits that would have been payable under the Retirement Plan but for the application
of Section 415 of the Code and the Compensation Limit; provided that the foregoing shall
not apply to amounts credited to an Account because of the inclusion of bonuses as part of Eligible
Compensation prior to January 1, 2005.

     3.7 Administrative/Judicial Determinations. Nothing in this Article or the Plan shall
require any amounts to be paid under this Plan, should an administrative or judicial determination
require benefit formulas, including the interest crediting rate, of the Retirement Plan to be
reformed or require the payment of Retirement Benefits or life annuity benefits under the
Retirement Plan in excess of those paid hereunder.

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Article IV

Vesting

       4.1 Account. Subject to the adjustments and forfeiture rules set forth in
Sections 3.3, 3.4 and 3.6, the benefits described in Sections 3.1, 3.3 and 3.4 shall vest upon the
date that the benefits under the Retirement Plan vest. Benefits hereunder shall be forfeited upon
the date of a termination of employment as reflected on the books and records of the Employer if
such Participant is not then vested in his/her Retirement Benefits. Benefits hereunder shall not
be subject to being restored upon re-employment.

     4.2 Vesting 415 Benefit. The benefit described in Section 3.4 shall be deemed to
accrue and vest only upon the dates or date of the Separation from Service.

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Article V

distributions

     5.1 Form and Date of Distribution. (a) Except as otherwise provided herein, if a
Participant incurs a Separation from Service, his or her benefit under this Plan shall be
distributed in a lump sum during the calendar year immediately following the calendar year in which
the Separation from Service occurred, provided that a Specified Employee shall not receive a
distribution from this Plan until at least six months have elapsed from the date of his/her
Separation from Service.

     (b)
A Grandfathered Chase Participant who receives his/her Retirement Benefit under a Final
Average Pay formula shall receive his/her benefit in the form of a single life month annuity
commencing in the calendar year following his/her Separation from Service. The Participant may
elect prior to the first annuity payment date between actuarial equivalent forms of annuity
benefits. For this purpose, the form of annuities available are those specified by the Retirement
Plan as applying to a Grandfathered Chase Participant and the actuarial factors set forth in the
Retirement Plan shall be used.

     (c) If a Participant terminated employment prior to January 1, 2005, then any vested amounts
accrued prior to that date shall be subject to the terms of the Plan prior to its amendment and
restatement.

     (d) (i) In the case of a Qualified Participant, vested amounts accrued prior to January 1,
2005 shall be subject to the terms of the Plan prior to its amendment and restatement. Any
amount accrued by a Qualified Participant after January 1, 2005 shall be subject to the election
that such individual made in 2005 in accordance with the transitional rules of Section 409A.

     (ii) Notwithstanding Section 5.1(d)(i) above, if a Qualified Participant fails to elect
distribution of his/her Retirement Benefits by December 1, 2008, then Section 3.2 shall apply to
calculate the amount of his/her benefit hereunder as of December 31, 2008. That benefit shall be
distributed as a lump sum during calendar year 2009.

     (e) If a Participant in the Supplemental Plan had made an election as to the form and time
of payment of his or her benefit under that Plan prior to December 31, 2004?, such election shall
govern the form and time of payment of benefits hereunder.

     5.2 Withholding. Any payment under this Plan shall be reduced by any amount required
to be withheld under applicable Federal, state and local laws.

     5.3 Participant’s Rights Unsecured. The right of any Participant or former
Participant to receive further payments under the provisions of the Plan shall be an unsecured
claim against general funds of (i) the Bank, if the Employer employing the participant at the time
his/her Eligible Compensation is subject to this Plan, was a bank or a bank subsidiary or (ii) the
Corporation, if the Employer employing the Participant at the

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time his/her Eligible Compensation is subject to this Plan, was not a bank or a bank subsidiary;
provided that the Corporation shall be responsible for any amounts accrued under the Supplemental
Plan. No assets shall be required to be segregated or earmarked to represent any liability for
supplemental benefits hereunder, but the Corporation and Bank shall have the right to establish
vehicles to assist them and the other Employers in meeting their obligations hereunder. The rights
of any person to receive benefits under the Plan shall be only those of a general unsecured
creditor; and such status shall not be enhanced by reason of the establishment of any funding
vehicles.

     5.4 Beneficiary. (a) Upon the death of a Participant who has vested benefits under
this Plan and whose death occurs prior to a Participant’s Separation from Service, the Beneficiary
of such Participant shall receive (i) a benefit equal to the excess of Retirement Benefit available
to Beneficiary without application of Section 415 of the Code over the Retirement Benefit actually
received by the Beneficiary under the Retirement Plan and/or (ii) the Credit Balance of the
Participant under Section 3.1. The benefit shall be distributed as a lump sum in the calendar year
immediately following the calendar year in which the death occurred.

     (b) Notwithstanding Section 5.4(a), upon the death of a Participant who has vested benefits
under this Plan and whose death occurs prior to a Participant’s Separation from Service, a
Beneficiary whose survivor Retirement Benefit is based on the Final Average Pay Benefit,
Alternative Benefit or Minimum Benefit shall not receive the Credit Balance under Section 3.1 of
this Plan. Instead such Beneficiary shall have his/her benefit based on Section 3.3 utilizing the
assumptions with respect to a survivor pre-retirement annuity as set forth in the Retirement Plan.
The benefit shall be distributed as a lump sum in the calendar year immediately following the
calendar year in which the death occurred.

     (c) Upon the death of a Participant who has vested benefits under this Plan and whose death
occurs after the Participant’s Separation from Service, the Beneficiary shall receive any unpaid
amount due to the Participant in the form of a lump sum in the calendar year immediately following
the calendar year in which the death occurred; provided that if the Participant was receiving an
annuity hereunder, the Beneficiary shall be entitled only the survivor benefit, if any, under the
annuity.

     (d) The distribution rules of the Plan, prior its to its amendment and restatement, shall
apply to the date of distribution with respect to a Beneficiary of a Participant who incurred a
Separation from Service prior to January 1, 2005.

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Article VII

Amendment and Termination

       6.1 Amendment. The Board or the Administrator may amend the Plan in any
respect and at any time; provided, however, that no amendment shall have the effect of reducing (i)
any benefit then being paid or payable to any Participant or to any Beneficiary, or (ii) the
vested amount of any benefit under Sections 3.1, 3.3 and 3.4 theretofore accrued on behalf of any
Participant.

     6.2 Termination. The Board may terminate the Plan at any time. In the event of
termination, the Plan shall continue in force with respect to any Participant, or other person
entitled to receive a benefit under Sections 3.1, 3.3 and 3.4 to the extent accrued and vested
under the Plan prior to its termination, and shall be binding upon any successor to substantially
all the assets of the Corporation or any other Employer.

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Article VIII

General Provisions

       7.1 Assignability. No right to receive payments hereunder shall be
transferable or assignable by a Participant except by will or by the laws of descent and
distribution or by a court of competent jurisdiction. Any other attempted assignment or alienation
of payments hereunder shall be void and of no force or effect.

     7.2 Administration. Except as otherwise provided herein, the Plan shall be
administered by the Administrator, who shall have the authority to adopt rules and regulations for
carrying out the provisions of the Plan, and who shall conclusively interpret, construe and
implement the provisions of the Plan, including eligibility to participate, the entitlement to
benefits and the amount of such benefits.

     7.3 Legal Opinions. The Administrator may consult with legal counsel, who may be
counsel for the Bank or other counsel, with respect to his obligations or duties hereunder, or with
respect to any action proceeding or any question of law, and shall not be liable with respect to
any action taken, or omitted, by him in good faith pursuant to the advice of such counsel.

     7.4 Liability. Any decision made or action taken by the Board, Committee or the
Administrator arising out of, or in connection with, the construction, administration,
interpretation and effect of the Plan shall be within their absolute discretion, and will be
conclusive and binding on all parties. Neither the Administrator nor a member of the Board or of
the Committee shall be liable for any act or action hereunder, whether of omission or commission,
by any other member or employee or by any agent to whom duties in connection with the
administration of the Plan have been delegated or, except in circumstances involving bad faith, for
anything done or omitted to be done in connection with this Plan.

     7.5 Corporate Reorganization. In the event that a corporation or unincorporated
entity ceases to meet the definition of an Employer such corporation or entity shall cease to be an
Employer under the plan and its employees shall cease to be Participants under the Plan, and the
Plan shall be treated as though a separate plan for the benefit of its employees who were
Participants in the plan to govern the accrued benefits of each such Participant (or any person
entitled to benefits in respect of such a Participant).

     7.6 Construction. The masculine gender, where appearing in this Plan, shall be deemed
to also include the feminine gender. The singular shall also include the plural, where
appropriate.

     7.7 Governing Law. The Plan shall be construed and administered in accordance with
the laws of the State of New York.

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     7.8 Not an Employment Contract. Nothing herein shall be construed to confer upon any
person any legal right to continued employment with the Bank or any Related Company.

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