Document:

Exhibit 10.32

 

 

 

 

 

 

FF GLOBAL PARTNERS LLC

 

SECOND
AMENDED AND RESTATED

 

LIMITED LIABILITY COMPANY
AGREEMENT

 

FF GLOBAL PARTNERS LLC

 

 

 

As of May 16, 2022

 

 

 

 

 

     

     

    

 

SECOND AMENDED AND RESTATED

LIMITED LIABILITY COMPANY AGREEMENT OF

FF GLOBAL PARTNERS LLC

 

(a Delaware limited liability
company)

 

This Second Amended and
Restated Limited Liability Company Agreement (this “Agreement”) of FF GLOBAL PARTNERS LLC (the “Company”)
is made and entered into as of May 16, 2022 (the “Effective Date”) by and among the Company, individuals listed in
Schedule I and each other Person who is admitted as a member of the Company from time to time in accordance with the provisions
of this Agreement (each individual listed in Schedule I, a “Member” and collectively, the “Members”).
Capitalized terms used herein and not otherwise defined have the meanings set forth in Section 1.01.

 

RECITALS

 

WHEREAS,
the Company was duly formed as a limited liability company under the applicable laws of the State of Delaware by the filing of Limited
Liability Company Certificate of Formation on December 27, 2018 (the “Certificate of Formation”);

 

WHEREAS,
the Members are parties to that certain First Amended and Restated Limited Liability Company Agreement dated June 25, 2019, as amended
by the First Amendment to the First A&R LLC Agreement dated February 5, 2021 and the Second Amendment to the First A&R LLC Agreement
dated March 29, 2021 (the “First A&R LLC Agreement”);

 

WHEREAS,
after due consideration, the Committee (defined below) deems it in the Company’s interest to amend and restate in its entirety the
terms of the First A&R LLC Agreement in accordance herewith, to set forth the respective duties, interests, obligations, powers, privileges
and rights of Members and to provide for the management and governance of the Company on and after the Effective Date; and

 

NOW, THEREFORE,
in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

ARTICLE I

 DEFINITIONS

 

Section 1.01. Definitions.

 

“Act”
means the Delaware Limited Liability Company Act, as amended from time to time (or any corresponding provisions of succeeding law).

 

“Affiliate”
means, with respect to any Person, any other Person who, directly or indirectly (including through one or more intermediaries), controls,
is controlled by, or is under common control with such Person. In addition to the foregoing, if the specified Person is an individual,
the term “Affiliate” also includes (a) the individual’s spouse, (b) the members of the immediate family (including
parents, siblings and children) of the individual or of the individual’s spouse and (c) any corporation, limited liability company,
general or limited partnership, trust, association or other business or investment entity that directly or indirectly, through one or
more intermediaries or contractual arrangements, controls, is controlled by or is under common control with any of the foregoing individuals.
For purposes of this definition, “control,” when used with respect to any specified Person, means the power, direct
or indirect, to direct or cause the direction of the management and policies of such Person, whether through ownership of voting securities
or partnership or other ownership interests, by contract or otherwise; and the terms “controlling” and “controlled”
will have correlative meanings. For purposes of this Agreement, the Parties agree that none of the Members shall be deemed an Affiliate
of the Company or any of other Members solely by holding Units or Unit Equivalents of the Company.

 

     

     

    

 

“Authorized Units Pool”
has the meaning set forth in Section 3.02.

 

“Bankruptcy”
means, with respect to a Member, the occurrence of any of the following: (a) the filing of an application by such Member for, or a
consent to, the appointment of a trustee of such Member’s assets; (b) the filing by such Member of a voluntary petition in
bankruptcy or the filing of a pleading in any court of record admitting in writing such Member’s inability to pay its debts as
they come due; (c) the making by such Member of a general assignment for the benefit of such Member’s creditors; (d) the
filing by such Member of an answer admitting the material allegations of, or such Member’s consenting to, or defaulting in
answering a bankruptcy petition filed against such Member in any bankruptcy proceeding; or (e) the expiration of sixty (60) days
following the entry of an order, judgment or decree by any court of competent jurisdiction adjudicating such Member a bankrupt or
appointing a trustee of such Member’s assets.

 

“Business
Day” means a day other than (i) a Saturday, Sunday in the United States or (ii) any other day on which commercial banks in Los
Angeles, California are closed.

 

“Capital Account”
has the meaning set forth in Section 5.02.

 

“Capital
Contribution” means, for any Member, the total amount of cash and cash equivalents and the Fair Market Value of any other property
contributed or deemed to be contributed to the Company with respect to such Member’s Common Units. Any reference in this Agreement
to the Capital Contribution of a Member will include the Capital Contribution made by any predecessor holder of the Common Unit(s) of
that Member.

 

“Capital Unit Participation
Amount” has the meaning set forth in Section 3.04(c). “Cause” shall mean and refer to any of the
following: (i) the conviction of such Person or plea of nolo contendere for commission of any crime constituting a felony in the jurisdiction
in which committed, any crime involving moral turpitude (whether or not a felony) or any other criminal act involving dishonesty (whether
or not a felony); (ii) such Person’s commission of any act of fraud, theft, embezzlement, self-dealing or misappropriation against
the business of the Company; or (iii) willful misconduct in the performance of, or failure to perform, the obligations of such Person
under this Agreement or any other Agreement between such Person and the Company or willful misconduct which could reasonably cause material
harm to the Company.

 

“Certificate of Formation”
has the meaning set forth in the Recitals.

 

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“Change
of Control” means, whether occurring through one transaction or a series of related transactions, any of the following: (a)
a merger or consolidation of the Company the effect of which is that the Members (together with their respective Affiliates) as of immediately
prior to such transaction or series of related transactions are no longer, in the aggregate, the beneficial owners, directly or indirectly,
of a majority of the Units on a Fully Diluted Basis (or the equity of the surviving entity) (or if such surviving entity is a Subsidiary
of another Person, the ultimate parent entity) immediately after such transaction or series of transactions; (b) any sale, transfer or
similar disposition by the Company or its Subsidiaries of all or substantially all of their assets on a consolidated basis to a third
Person or a group of third Persons acting in concert; or (c) any purchase by any Person (or group of affiliated Persons), of Units (either
through a negotiated purchase or a tender offer), the effect of which is that the Parties that are Members as of immediately prior to
such transaction or series of related transactions are no longer, in the aggregate, the beneficial owners, directly or indirectly, of
a majority of the Units on a Fully Diluted Basis immediately after such transaction or series of transactions.

 

“Code” means the
Internal Revenue Code of 1986, as amended.

 

“Committee” has the meaning set forth in Section 8.01.

 

“Committee
Act” has the meaning set forth in Section 4.08.

 

“Committee
Policy” means any policy or regulation with respect to the operation of the Company adopted and approved by the Committee with
the Requisite Approval, as such policy or regulation may be duly amended from time to time.

 

“Common Unit”
has the meaning set forth in Section 3.01(b).

 

“Company” has the meaning set forth in the Preamble.

 

“Company Counsel”
has the meaning set forth in Section 14.10.

 

“Confidential Information”
has the meaning set forth in Section 10.01(a).

 

“Cumulative Tax Liability” has the meaning set forth in Section
7.04.

 

“Dissolution Event” has the meaning set forth in Section 12.01.

 

“Distributable
Cash” means, as of any date, the excess of (a) the cash, cash equivalent items, marketable securities and money market investments
held by the Company over (b) the sum of the amount of such items as the Committee reasonably and in good faith determines to be necessary
for (i) the payment of the Company’s and its Subsidiaries’ then due or accrued expenses, liabilities and other obligations
and (ii) the establishment of appropriate reserves for expenses, liabilities and obligations.

 

“Distribution”
means a distribution made by the Company to a Member with respect to such Member’s Membership Interest, whether in cash,
property or securities of the Company and whether by liquidating distribution or otherwise; provided, however, that
none of the following will be a Distribution: (a) any redemption or purchase by the Company or any Member of any Units or Unit
Equivalents; (b) any recapitalization or exchange of securities of the Company (other than in connection with a Change of Control);
(c) any subdivision (by a split of Units or otherwise) or any combination (by a reverse split of Units or otherwise) of any
outstanding Units; or (d) any fees, expenses or remuneration paid to any Member in such Member’s capacity as a service
provider, licensor or Manager for the Company or any of its Subsidiaries. The terms “Distribute” when used as a
verb and “Distributable” when used as an adjective will each have a correlative meaning.

 

    3

     

    

 

“Electronic
Transmission” means any form of communication not directly involving the physical transmission of paper that creates a record
that may be retained, retrieved and reviewed by a recipient thereof and that may be directly reproduced in paper form by such a recipient
through an automated process.

 

“Effective Date” has
the meaning set forth in the Preamble.

 

“Fair
Market Value” of any asset as of any date means the purchase price that a willing buyer having all relevant knowledge would
pay a willing seller for such asset in an arm’s length transaction, as determined in good faith by the Committee based on such factors
as the Committee, in the exercise of its reasonable business judgment, considers relevant.

 

“FF Intelligent”
means Faraday Future Intelligent Electric Inc. a Delaware corporation.

 

“FF Top”
means FF Top Holding LLC (f/k/a/ FF Top Holding Ltd.), a Delaware limited liability company and a Subsidiary of the Company.

 

“Fiscal
Year” means the twelve (12)-month period ending on December 31 of each applicable calendar year.

 

“Fully
Diluted Basis” means, as of any date of determination, all issued and outstanding Units and all Units issuable upon the exercise
of any outstanding Unit Equivalents as of such date, whether or not such Unit Equivalent is at the time exercisable.

 

“Fully
Paid Units” means with respect to each issuance of the Common Units to a Member, the number of such Common Units that equals
the quotient of the total consideration of such Common Units that has been paid by such Member as of the date of determination, divided
by the applicable per Unit purchase price of such Common Units issued to the Member.

 

“IPO”
means the closing of a transaction (or a series of transactions) which result(s) in the ordinary shares, common stock or other securities
of a Person or its parent company being traded publicly on a qualified exchange, including but not limited to a firm commitment underwritten
public offering, backdoor listing (reverse merger or otherwise), and direct listing of the ordinary shares, common stock or other securities
of such Person or its parent company.

 

“IRS” means the U.S.
Internal Revenue Service.

 

“Joinder
Agreement” means the joinder agreement in form and substance attached hereto as Annex A.

 

    4

     

    

 

“Liquidation
Unit Value” means the amount that would be distributed to the relevant Unit pursuant to Section 7.02 hereof in the event
of a sale of all the assets of the Company for their respective Fair Market Values as determined by the Committee and the payment of all
of the Company’s liabilities.

 

“Liquidation
Value” means the aggregate amount that would be distributed with respect to all Units pursuant to Section 7.02 hereof
in the event of a sale of all the assets of the Company for their respective Fair Market Values as determined by the Committee and the
payment of all of the Company’s liabilities.

 

“Liquidator” has the meaning set
forth in Section 12.03(a).

 

“Losses” has the meaning set
forth in Section 13.03(a).

 

“Lower Committee” has the meaning set forth in Section 8.08.

 

“Manager” has the meaning set forth in Section 8.01.

 

“Managing Partner” has the meaning
set forth in Section 8.02(a)(ii).

 

“Managing Partner Vacancy” has the meaning set forth in Section 8.02(c)).

 

“Members Schedule” has the meaning set forth in Section 3.01.

 

“Membership
Interest” means a membership interest in the Company owned by a Member, including such Member’s right (based on the type
and class of Unit or Units held by such Member), as applicable: (a) to a Distributable share of Net Profit, Net Losses and other items
of income, gain, loss and deduction of the Company; (b) to a Distributable share of the assets of the Company; and (c) to vote on, consent
to or otherwise participate in any decision of the Members to the extent provided in this Agreement.

 

“Net
Profit” and “Net Loss” mean, for each Fiscal Year or other period specified in this Agreement, an amount
equal to the Company’s taxable income or loss for such period, determined in accordance with Section 703(a) of the Code, with the
adjustments provided in the regulations thereunder and the regulations under Section 704 of the Code; provided, however, that items which
are specially allocated pursuant to Section 6.01(b) hereof shall not be taken into account in computing Net Profit or Net Loss.

 

“Nomination Process” has the meaning
set forth in 4.10.

 

“Officer” has the meaning set forth in Section 8.09(a).

 

“Initial Agreement”
has the meaning set forth in the Recitals.

 

“Partnership Representative” has
the meaning set forth in Section 11.02(a).

 

“Party” or “Parties” means the party or parties
to this Agreement.

 

“Percentage Interest” means, with
respect to each Member, the percentage determined by dividing such Member’s total issued Common Units by the aggregate number
of Common Units issued to all Members. Each Member’s Percentage Interest shall be set forth on opposite such Member’s
name on Schedule A attached hereto (such percentage being understood to be reflective of the economic interest in the Company
represented by such Member’s Membership Interest), and shall be updated by the Committee at any time that a redetermination of
Percentage Interest is appropriate. The Percentage Interests shall at all times aggregate to one hundred percent (100%).

 

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“Person”
means any individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization,
trust, association or other entity.

 

“Redemption Price” has the meaning set
forth in Section 3.04.

 

“Representative”
means, with respect to any Person, any director, manager, officer, employee, independent contractor, consultant, advisor (including any
financial advisor, counsel or accountant) and other agent of such Person.

 

“Requisite
Approval” means, to the extent there exists a quorum for actions by the Committee, the affirmative approval of a majority of
the votes cast by the Managers who are present and vote on the matter (which shall not include any abstaining Manager) but excluding the
manager who has no voting rights , provided that in the event of a tie in the affirmative and negative votes cast in respect of
any matter (which may include the vote of the Managing Partner), the Managing Partner (or any other Manager appointed by the Designated
Member, in the event the role of the Managing Partner is removed or challenged) shall have a casting vote.

 

“Securities
Act” means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations thereunder,
which will be in effect at the time.

 

“Subscription
Agreement” means the certain subscription agreement(s) entered into between the Members and the Company regarding the subscription
of Common Units by the Members.

 

“Subsidiary”
of a Person means any other Person with respect to which the first Person, through contract, equity interest or otherwise, (i) has the
right to elect a majority of the board of directors or other Persons performing similar functions or (ii) beneficially owns 20% or more
of the voting power (or of any other form of other voting or controlling equity interest in the case of a Person that is not a corporation),
in each case, directly or indirectly through one or more other Persons. For the avoidance of doubt, FF Intelligent shall be deemed as
the Company’s Subsidiary even if the Company’s interest in FF Intelligent is diluted to below 20% due to future equity financing
or otherwise.

 

“Tax Distribution” has the meaning set
forth in Section 7.04.

 

“Transfer”
means to, directly or indirectly, sell, transfer, assign, pledge, encumber, hypothecate or similarly dispose of, either voluntarily
or involuntarily, by merger, operation of law or otherwise, or to enter into any contract, option or other arrangement or
understanding with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation or similar disposition of, any
Units owned by a Person or any interest (including a beneficial interest) in any Units or Unit Equivalents owned by a Person.
“Transfer” when used as a noun will have a correlative meaning. “Transferor” and
“Transferee” mean a Person who makes or receives a Transfer, respectively.

 

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“Treasury
Regulations” means the final or temporary regulations issued by the United States Department of Treasury pursuant to its authority
under the Code, and any successor regulations.

 

“Unfunded Subscription
Recovery Amount” has the meaning set forth in Section 3.04(c).

 

“Unit”
means a unit representing a fractional part of the Membership Interests of the Members and will include all types and classes of Units;
provided, however, that any type or class of Unit will have the privileges, preference, duties, liabilities, obligations
and rights set forth in this Agreement and the Membership Interests represented by such type or class or series of Unit will be determined
in accordance with such privileges, preference, duties, liabilities, obligations and rights.

 

“Unit
Equivalents” means any security or obligation that is by its terms, directly or indirectly, convertible into, or exchangeable
or exercisable for Units, and any option, warrant or other right to subscribe for, purchase or acquire Units.

 

“Withholding Taxes” has the meaning set
forth in Section 7.03.

 

Section 1.02.
Interpretation. For purposes of this Agreement: (a) the term “or” is not exclusive; and (b) the words “herein,”
“hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. The terms
“shall” and “will” have the same meaning hereunder. The definitions given for any defined terms in this Agreement
will apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun will include
the corresponding masculine, feminine and neuter forms. Unless the context otherwise requires, references herein: (x) to Articles, Sections,
and Annexes mean the Articles and Sections of, and Annexes attached to, this Agreement; (y) to an agreement, instrument or other document
means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by
the provisions thereof; and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto
and any regulations promulgated thereunder. This Agreement will be construed without regard to any presumption or rule requiring construction
or interpretation against the Party drafting an instrument or causing any instrument to be drafted. The Schedules, Annexes and Exhibits
referred to herein will be construed with, and as an integral part of, this Agreement to the same extent as if they were set forth verbatim
herein. The term “dollar” or symbol “$” refer to the lawful currency of the United States of America.

 

ARTICLE
II

 ORGANIZATION

 

Section 2.01. Formation.

 

(a) The
Company was formed as a limited liability company by the filing of the Certificate of Formation of the Company with the Secretary of
State of the State of Delaware pursuant to the Act. All prior limited liability company agreements of the Company, whether written or
oral, are hereby amended and restated and superseded in their entirety by this Agreement.

 

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(b) This
Agreement will constitute the “limited liability company agreement” (as that term is used in the Act) of the Company. The
rights, powers, duties, obligations and liabilities of the Members will be determined pursuant to the Act and this Agreement. To the extent
that the rights, powers, duties, obligations and liabilities of any Member are different by reason of any provision of this Agreement
than they would be under the Act in the absence of such provision, this Agreement will, to the extent permitted by the Act, control.

 

Section 2.02.
Name. The name of the Company is “FF Global Partners LLC” and its business shall be carried on in such name with such
variations and changes as the Committee shall determine or deem necessary to comply with requirements of the jurisdictions in which the
Company’s operations are conducted.

 

Section 2.03.
Principal Office. The location of the principal office of the Company shall be located at such location as the Committee may from
time-to-time designate.

 

Section 2.04. Registered Office; Registered Agent.

 

(a) The
registered office of the Company will be the office of the initial registered agent named in the Certificate of Formation or such other
office (which need not be a place of business of the Company) as the Committee may designate from time to time in the manner provided
by the Act.

 

(b) The
registered agent for service of process on the Company in the State of Delaware will be the initial registered agent named in the Certificate
of Formation or such other Person or Persons as the Committee may designate from time to time in the manner provided by the Act.

 

(c) The
Committee will cause the Company and its Subsidiaries to be qualified or registered under all applicable laws of any jurisdiction in which
such entity owns property or engages in activities and will be authorized to execute, deliver and file any certificates and documents
necessary to effect such qualification or registration, including the appointment of agents for service of process in such jurisdictions,
if such qualification or registration is necessary or desirable to permit the Company and its Subsidiaries to own property and engage
in the Company’s and its Subsidiaries’ business in such jurisdictions.

 

Section 2.05.
Business Purpose; Powers. The Company is formed for the purpose of engaging in any lawful business, purpose or activity for which
limited liability companies may be formed under the Act. The Company shall possess and may exercise all the powers and privileges granted
by the Act or by any other applicable law or by this Agreement, together with any powers incidental thereto, so far as such powers and
privileges are necessary or convenient to the conduct, promotion or attainment of the business purposes or activities of the Company.

 

Section 2.06. Term.
The term of the Company commenced on the date the Certificate of Formation was filed with the Secretary of State of the State of Delaware
and will continue in existence perpetually until the Company is dissolved in accordance with the provisions of this Agreement.

 

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Section 2.07.
No State Law Partnership. The Members intend that the Company will be treated as a partnership for federal and, if applicable,
state and local, income tax purposes, and, to the extent permissible, the Company will make any election reasonably determined by the
Committee to be necessary or appropriate in order to ensure the treatment of the Company as a partnership for federal and, if applicable,
state and local, income tax purposes. The Company and each Member will file all tax returns and will otherwise take all tax and financial
reporting positions in a manner consistent with such treatment and no Member will take any action inconsistent with such treatment.

 

ARTICLE III

 UNITS

 

Section 3.01. Units Generally.

 

(a) The
Membership Interests of the Members will be represented by issued and outstanding Units, which may be divided into one or more types,
classes or series as determined by the Committee. Each type, class or series of Units will have the privileges, preference, duties, liabilities,
obligations and rights, including voting rights, if any, set forth in this Agreement with respect to such type, class or series.

 

(b) On
the Effective Date, the Company is authorized to issue two classes of Units, consisting of “Common Units” and “Capital
Units”. The Committee will maintain a schedule of all Members, their respective mailing addresses and the amount and series of Units
held by them (the “Members Schedule”), and will update the Members Schedule upon the issuance or Transfer to any new
or existing Member. As of the Effective Date, the issued and outstanding Units and the Percentage Interests of the Members are as set
forth on the Members Schedule as Schedule A attached hereto. The Members Schedule will be kept confidential but will be available
for review at the Company by all holders of Units.

 

Section 3.02. Authorized
Units. As of the Effective Date, the Company is authorized to issue up to 362,352,941 Common Units and a like number of Capital Units
(the “Authorized Units Pool”). For the avoidance of doubt, the Committee has the full power and authority to determine,
in its sole discretion, the timing and recipient(s) of any issuances of Common Units from the Authorized Units Pool which occur following
the date hereof; provided, that, all such issuances pursuant to this Section 3.02 shall be subject to such requirements for the
admission of new Members as provided in Section 4.01 hereof. In its sole discretion, the Committee may take such actions as it
deems appropriate so that, in respect of any income available for distribution that is earned by the Company in respect of any FF Intelligent
Shares or FF Top shares currently held (directly or indirectly) by the Company, each Common Unit, at maximum, will be entitled to such
amount as bears the same proportion to such distributable income as such Common Unit bears to the sum of all Common Units (whether issued
or issuable). The Committee shall issue (and only issue) the Capital Units pursuant to Section 3.04(c). Except for the right to receive
Distributions as set forth in Section 7.02(i), the Capital Units shall have no rights in respect of the Company, including, without limitation,
no right to vote on matters submitted to the Members and no right to nominate the Managers.

 

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Section 3.03.
Other Issuances. Except for the issuance of Units contemplated by this Agreement, the Company is hereby authorized to issue additional
Units only with the Requisite Approval of the Committee, subject to the requirements of admissions of new Members as provided in Section
4.01 hereof.

 

Section 3.04. Redemption of Units.

 

(a)
Each Member acknowledges and agrees that, to the extent that any Member (i) conducts his or herself in any manner which is
detrimental to the Company, FF Intelligent or any of their Affiliates, including but not limited to destroying the spirit of
partnership or creating divisions within partnership, as determined by the Committee in its sole discretion, (ii) breaches the terms
of this Agreement or any other agreements or contracts between such Member and the Company (including for the avoidance of doubt,
the Subscription Agreement and the payment terms thereunder) and the Company provides a written notice informing the Member of such
breach, which either (x) by its nature is incapable of being cured or (y) if capable of being cured, shall not have been cured to
the reasonable satisfaction of the Committee within 10 calendar days after the date of written notice of such breach, (iii)
terminates his or her employment with, or ceases to provide any services (including but not limited to consulting services or
directors’ services) to the Company, FF Intelligent, or any of their Affiliates, as applicable, with Cause, or (iv) terminates
his or her employment with or ceases to provide any services (including but not limited to director’s services or consulting
services) to, the Company, FF Intelligent, and all of their Affiliates, as applicable, without Cause (including as a result of death
or disability) (for the avoidance of doubt, so long as a Member continues to be employed by or engaged to provide services to any of
the Company, FF Intelligent, or their Affiliates, termination of his/her employment with another of such other companies without
Cause will not trigger redemption under this Section 3.04(a)(iv)) (each of (i), (ii), (iii) and (iv), a “Redemption
Event”.), then in each case, the Company has the right, upon the Requisite Approval of the Committee (which shall be made
within 60 days after the Committee has been notified of the Redemption Event), but not the obligation to redeem, or designate any
other party to purchase, any or all of the Common Units (and in the case of redemption pursuant clause (iv) above as a result of
death or disability, any or all of the Capital Units) then held by such Member at a price determined in accordance with the
following provisions of this Section 3.04 (the “Redemption Price”).

 

(b) In the event
of a redemption pursuant to (a)(i) or (a)(ii) hereof, the Redemption Price of (w) the Common Units that are Fully Paid Units shall
be determined by the Committee, provided that the Redemption Price of such Common Units shall not be lower than the unreturned
Capital Contributions for such Common Units or higher than the Liquidation Units Value of such Common Units and (x) the Common Units
that are not Fully Paid Units shall be zero. In the event of a redemption pursuant to (a)(iii) hereof, the Redemption Price of the
Common Units that are Fully Paid Units shall be the unreturned Capital Contributions for such Common Units and the Redemption Price
of the Common Units that are not Fully Paid Units shall be zero. In the event of a redemption pursuant to (a)(iv) hereof, the
Redemption Price of the Common Units that are Fully Paid Units shall be the higher of (y) Liquidation Unit Value of such Common
Units and (z) the unreturned Capital Contributions for such Fully Paid Units, and the Redemption Price of the Common Units that are
not Fully Paid Units shall be zero. In the event of a redemption of any Capital Units pursuant to (a)(iv) hereof, the Redemption
Price shall be the unpaid Capital Unit Participation Amount (as defined below) evidenced thereby.

 

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(c) In
the event of a redemption made pursuant to Section 3.04(a) above where the Liquidation Unit Value of any Common Units redeemed
is lower than the subscription price for such Units and any part of the subscription price for such Common Units remains unpaid, the Committee
may in its discretion cause the Company to pursue legal remedies to require such Member to pay up to such part of the unpaid subscription
price (the “Unfunded Subscription Recovery Amount”) as is equal to the excess, if any of (A) the total unpaid subscription
price in respect of the Common Units of the Member being redeemed pursuant to Section 3.04(a) over (B) the greater of (x) 50% of
the Member’s aggregate subscription price in respect of such redeemed units as set forth in such Member’s Subscription Agreement
and (y) the aggregate Liquidation Unit Value of such redeemed Units. If the Member pays any amount in respect of the Unfunded Subscription
Recovery Amount as required hereunder (such paid amount, the “Capital Unit Participation Amount”), such Member shall
be issued Capital Units reflecting a right to participate in future distributions of capital as contemplated in Section 7.02(i) and Section
12.03(c). Capital Units issued to a Member will be deemed cancelled automatically once Distributions equal to the Capital Unit Participation
Amount of such Capital Units have been made to the holder of such Capital Units pursuant to Section 7.02(i) or Section 12.03(c). For the
avoidance of doubt, except as otherwise agreed by a Member, the Company shall only have the right to pursue legal remedies for any Unfunded
Subscription Recovery Amount against the Member, and not any other Person related to such Member.

 

(d) All
Units that are redeemed by the Company pursuant to this Section 3.04 shall be cancelled immediately.

 

Section 3.06. Certification of Units.

 

(a) The
Committee in its sole discretion may, but will not be required to, cause the Company to issue certificates to the Members representing
the Units held by such Member.

 

(b) In
the event that the Company will issue certificates representing the Units in accordance with Section 3.06(a), then in addition
to any other legend required by the Act, all certificates representing issued and outstanding Units will bear a legend substantially in
the following form:

 

THE UNITS REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO A LIMITED LIABILITY COMPANY AGREEMENT AMONG THE COMPANY AND ITS MEMBERS, AS AMENDED, RESTATED, SUPPLEMENTED AND/OR OTHERWISE
MODIFIED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY. NO TRANSFER, SALE, ASSIGNMENT,
PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE UNITS REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS
OF SUCH LIMITED LIABILITY COMPANY AGREEMENT.

 

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THE UNITS REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS, AND MAY NOT BE TRANSFERRED,
SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT EFFECTIVE UNDER SUCH ACT AND
LAWS, OR (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER.

 

ARTICLE IV

 MEMBERS

 

Section 4.01. Admission of New Members.

 

(a) New
Members may only be admitted (i) subject to the Requisite Approval of the Committee, and (ii) in connection with a Transfer or issuance
of Units, subject to compliance with the provisions of Article IX.

 

(b) In
order for any Person not already a Member to be admitted as a Member, whether pursuant to an issuance or Transfer, such Person will have
executed and delivered to the Company a written undertaking substantially in the form of the Joinder Agreement. Upon the amendment of
the Members Schedule by the Committee and the satisfaction of any other applicable conditions, including, if a condition, the receipt
by the Company of payment for the issuance of the applicable Units, such Person will be admitted as a Member and deemed listed as such
on the books and records of the Company and thereupon will be issued its Units. The Committee will adjust the Capital Accounts of the
Members as necessary in accordance with Section 5.02.

 

Section 4.02.
Representations and Warranties of Members. By execution and delivery of this Agreement or a Joinder Agreement, as applicable, each
of the Members, whether admitted as of the date hereof or pursuant to Section 4.01, represents and warrants to the Company and
acknowledges as of the date hereof, the date of any purchase of Units by or grant of Units to such Member or as of the date of such Joinder
Agreement, as applicable, that:

 

(a) Such Member
understands that the Units and/or Unit Equivalents have not been, and will not be, registered under the Securities Act, by reason of
a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide
nature of the investment intent and the accuracy of such Member’s representations as expressed herein. Such Member understands
that the Units and/or Unit Equivalents are “restricted securities” under applicable U.S. federal and state securities
laws and that, pursuant to these laws, such Member must hold such equity indefinitely unless such equity is registered with the U.S.
Securities and Exchange Commission and qualified by state authorities, or an exemption from such registration and qualification
requirements is available. Such Member acknowledges that the Company has no obligation to register or qualify such equity for
resale. Such Member further acknowledges that if an exemption from registration or qualification is available, it may be conditioned
on various requirements including the time and manner of sale, the holding period for such equity, and on requirements relating to
the Company which are outside of such Member’s control, and which the Company is under no obligation and may not be able to
satisfy.

 

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(b) Such
Member is an “accredited investor” within the meaning of Rule 501 promulgated under the Securities Act, and agrees that it
will not take any action that would have an adverse effect on the availability of the exemption from registration provided by Rule 501
promulgated under the Securities Act with respect to the offer and sale of the Units;

 

(c) Such
Member’s residence address (if a natural person) or principal place of business (if an entity) is as set forth on the Members Schedule;

 

(d) If
such Member is a 20% Holder, neither such Member nor any of such Member’s Rule 506(d) Related Parties is a Bad Actor;

 

(e) Such
Member’s Units are being acquired for its own account solely for investment and not with a view to resale or distribution thereof;

 

(f) The
determination of such Member to acquire Units has been made by such Member independent of any other Member and independent of any statements
or opinions as to the advisability of such purchase or as to the business, operations, assets, liabilities, results of operations, financial
condition and prospects of the Company and its Subsidiaries that may have been made or given by any other Member or by any agent or employee
of any other Member;

 

(g) Such
Member has such knowledge and experience in financial and business matters and is capable of evaluating the merits and risks of an investment
in the Company and making an informed decision with respect thereto;

 

(h) Such
Member is able to bear the economic and financial risk of an investment in the Company for an indefinite period of time;

 

(i) The
execution, delivery and performance of this Agreement have been duly authorized by such Member and do not require such Member to obtain
any consent or approval that has not been obtained and do not contravene or result in a default in any material respect under any provision
of any law or regulation applicable to such Member or other governing documents or any agreement or instrument to which such Member is
a party or by which such Member is bound; and

 

(j) This
Agreement is valid, binding and enforceable against such Member in accordance with its terms, except as may be limited by bankruptcy,
insolvency, reorganization, moratorium, and other similar laws of general applicability relating to or affecting creditors’ rights
or general equity principles (regardless of whether considered at law or in equity).

 

Section 4.03. No
Personal Liability. Except as otherwise provided in the Act, no Member will be obligated personally for any debt, obligation or
liability of the Company, its Subsidiaries, or other Members, whether arising in contract, tort or otherwise, solely by reason of
being a Member. Except as otherwise required by the Act or expressly in this Agreement or by another writing signed by a Member,
such Member will have no fiduciary or other duty with respect to the business and affairs of the Company, and such Member will not
be liable to the Company for acting in good faith reliance upon the provisions of this Agreement. Except as expressly set forth
herein, no Member will have any obligation to contribute to, or in respect of, the liabilities or obligations of the Company or
return Distributions made by the Company except as required by the Act, or as expressly set forth herein. To the fullest extent
permitted by law, the failure of the Company to observe any formalities or requirements relating to the exercise of its powers or
the management of its business or affairs under this Agreement or the Act will not be grounds for making its Members (including the
Partnership Representative) responsible for the liabilities of the Company.

 

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Section 4.04. No Withdrawal.

 

(a) Distributions.
No Member shall have the right to withdraw any Capital Contributions made to the Company or to such Member’s Capital Account. No
Member will have any right to Distributions (including in connection with a withdrawal) other than cash as a Distribution from the Company
as expressly provided for herein and as determined by the Committee in its sole discretion.

 

(b) Bankruptcy;
Cessation of Membership. A Member will cease to be a Member as a result of the Bankruptcy of such Member or as a result of any other
events specified in Section 18-304 of the Act. As soon as any Person who is a Member ceases to hold any Units, such Person will no longer
be a Member.

 

Section 4.05.
Death. The death of any Member will not cause the dissolution of the Company. In such event, the Company and its business will
be continued by the remaining Member or Members and, the Committee may in its sole discretion determine whether to redeem or cause Units
owned by the deceased Member to be sold pursuant to Section 3.04(a) or to have such Units transfer to such deceased Member’s heirs;
provided, however, that as a condition to such Transfer to the heirs, the applicable heirs will sign a written undertaking
substantially in the form of the Joinder Agreement.

 

Section 4.06. Voting; Action
by Written Consent. Except as expressly provided in Section 8.02 of this Agreement, the Certificate of Formation or non-waivable
provisions of applicable law or otherwise pursuant to a Committee Act (as defined below) or Committee Policy, the Members shall have
no voting, approval, veto, consent or similar rights over any action, decision, document or other matter involving the Company or
the Business. Notwithstanding anything herein to the contrary, any action of the Members that may be taken by the Members pursuant
to Section 8.02 hereof may be taken without a meeting if a written consent, by means of Electronic Transmission or as
otherwise permitted by the Act, is executed by all of the Members.

 

Section 4.07.
No Interest in Company Property. No real or personal property of the Company will be deemed to be owned by any Member individually,
but will be owned by, and title will be vested solely in, the Company. Without limiting the foregoing, each Member hereby irrevocably
waives during the term of the Company any right that such Member may have to maintain any action for partition with respect to the property
of the Company.

 

Section 4.08. Compliance
with Committee Acts; Further Assurances. In the event the Committee takes any action or makes any decisions (a
“Committee Act”) pursuant to the terms of this Agreement, each Member shall do and perform, or cause to be done
and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments
and documents, as the Committee may request in order to carry out the intent and accomplish the purposes of the Committee Act and
the consummation of any transactions contemplated thereby.

 

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Section 4.10. Partners
and Preparatory Partners. The Committee may categorize its Members and/or Managers into “Partners” and
“Preparatory Partners” or such other designation with such rights and privileges determined by a Committee Act (with
Requisite Approval) or pursuant to the relevant Committee Policy. Unless provided elsewhere in this Agreement or as provided by the
then-applicable Committee Policy or Committee Act (with Requisite Approval) (i) the Managers (except for the Managing Partner) shall
be nominated by the Partners, and (ii) Partners shall be nominated by the existing Partners and Preparatory Partners (the
“Nomination Process”). If a Manager is removed, resigns, or cannot take the role before the next scheduled
nomination meeting, the Committee shall have the right, but not the obligation, to fill the vacancy subject to the Nomination
Process.

 

ARTICLE V

CAPITAL CONTRIBUTIONS; CAPITAL
ACCOUNTS

 

Section 5.01. Capital Contributions.

 

(a) As
of the Effective Date, each Member will be issued and will own the number, type, series and class of Units, and each Member shall have
made, or be deemed to have made, the Capital Contributions, in each case, in the amounts set forth opposite such Member’s name in
the Members Schedule attached hereto as Schedule A. No Member will be required to make any additional Capital Contributions to
the Company in excess of the subscription price for the Common Units set forth in such Member’s Subscription Agreement(s). Any future
Capital Contributions made by any Member will only be made with the Requisite Approval of the Committee.

 

(b) No
Member will be required to lend any funds to the Company and no Member will have any personal liability for the payment or repayment of
any Capital Contribution by or to any other Member.

 

Section 5.02.
Maintenance of Capital Accounts. The Company will establish and maintain for each Member holding Units a separate capital account
(a “Capital Account”) on its books and records in accordance with this Section 5.02. Each Capital Account will
be established and maintained in accordance with the following provisions:

 

 (a) Each Member’s Capital Account will be increased by the amount of:

 

(i) such
Member’s Capital Contributions (subject to Treasury Regulations Section 1.704-1(b)(2)(ii)(c) in the case of a contribution of a
note to the extent applicable);

 

(ii) any
Net Profit or other item of income or gain allocated to such Member pursuant to Article VI; and

 

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(iii) any
liabilities of the Company that are assumed by such Member or secured by any property Distributed to such Member.

 

 (b) Each Member’s Capital Account will be decreased by:

 

(i) the
cash amount or Fair Market Value of any property Distributed to such Member pursuant to Article VII, Section 12.03(c) or
any other provision hereof;

 

(ii) the
amount of any Net Loss or other item of loss or deduction allocated to such Member pursuant to Article VI; and

 

(iii) the
amount of any liabilities of such Member assumed by the Company or which are secured by any property contributed by such Member to the
Company.

 

The foregoing provisions and the other
provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Treasury Regulations Section
1.704-1(b), and will be interpreted and applied in a manner consistent with such Treasury Regulations.

 

Section 5.03.
Succession Upon Transfer. In the event that any Units are transferred in accordance with the terms of this Agreement, the Transferee
will succeed to the Capital Account of the Transferor to the extent it relates to the transferred Units and, subject to Section 6.04,
will receive allocations and Distributions pursuant to Article VI, Article VII and Article XII in respect of such
Common Units.

 

Section 5.04.
Negative Capital Accounts. In the event that any Member will have a deficit balance in its Capital Account, such Member will have
no obligation, during the term of the Company or upon dissolution or liquidation thereof, to restore such negative balance or make any
Capital Contributions to the Company by reason thereof, except as may be required by the Act or in respect of any negative balance resulting
from a withdrawal of capital or dissolution in contravention of this Agreement.

 

Section 5.05.
No Withdrawal. No Member will be entitled to withdraw any part of its Capital Account or to receive any Distribution from the Company,
except as provided in this Agreement. No Member will receive any interest, salary or drawing with respect to its Capital Contributions
or its Capital Account, except as otherwise provided in this Agreement. The Capital Accounts are maintained for the sole purpose of allocating
items of income, gain, loss and deduction among the Members and will have no effect on the amount of any Distributions to any Members,
in liquidation or otherwise.

 

[Intentionally Omitted]

 

Section 5.07. Modifications.
The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply
with Section 1.704-1(b) of the Treasury Regulations and will be interpreted and applied in a manner consistent with such Treasury Regulations.
If the Committee reasonably determines that it is prudent to modify the manner in which the Capital Accounts (including debits or credits
relating to liabilities that are (i) secured by contributed or Distributed property, or (ii) assumed by the Company, any of its Subsidiaries
or any Members), or any increases or decreases to the Capital Accounts, are computed in order to comply with such Treasury Regulations,
the Committee will take all actions reasonably required to amend this Agreement to reflect such modifications, provided that any
such modification will not affect the economic arrangements of the Parties unless the Committee with the Requisite Approval determines
otherwise.

 

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ARTICLE VI

 ALLOCATIONS

 

Section 6.01. Allocation of Net Income and Net Loss.

 

(a) General
Allocation of Net Profit and Net Loss. After giving effect to the special allocations set forth in Section 6.01(b), Net Profit
or Net Loss, as the case may be, for any Fiscal Year or other period for which such allocation is made shall be allocated among the Members
in a manner such so as to ensure, to the extent possible, that the Capital Accounts of the Members as of the end of such period conform,
in the reasonable judgment of the Committee, with the economics of this Agreement in accordance with Section 7.02 and Section
12.03. The allocations made pursuant to this Section 6.01(a) are intended to comply with the provisions of Section 704(b) of
the Code and the Treasury Regulations thereunder and, in particular, to reflect the economic interests in the Company of the Members as
set forth in this Agreement, and this Section 6.01(a) shall be interpreted in a manner consistent with such intention.

 

(b) Special
Allocations. The Committee shall make special allocations in accordance with the provisions of the Treasury Regulations under Section
704 of the Code, minimum gain chargeback, including Member minimum gain chargeback, qualified income offset and gross income allocation
as they deem necessary in order to cause the allocations under Article VI to comply with the provisions of Section 704 of the Code and
the Treasury Regulations thereunder.

 

Section 6.02. Other Allocation Rules.

 

(a) For
purposes of determining the Net Profit, Net Loss or any other items applicable to any period, Net Profit, Net Loss and any other such
items shall be determined on a daily, monthly or other basis, as determined by the Committee in its reasonable discretion using any permissible
method under Section 706 of the Code and the Treasury Regulations promulgated thereunder.

 

(b) Except
as otherwise provided in this Agreement, all items of Company income, gain, loss, deduction and any other allocations not otherwise provided
for shall be allocated among the Members in the same proportions as they share Net Profit or Net Loss, as the case may be, for the Fiscal
Year or other period for which such allocation is made.

 

(c) In
accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder, income, gain, loss and deduction
with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated to the Members
so as to take account of the variation between the adjusted basis of such property to the Company for federal income tax purposes
and its initial value on the date of contribution to the Company as determined by the Committee in its reasonable discretion.
Allocations of income, gain, loss and deduction with respect to any such assets shall take into account any variation between the
adjusted basis of such asset for federal income tax purposes and its value in the same manner as under Section 704(c) of the Code
and the Treasury Regulations promulgated thereunder. Any elections or other decisions relating to such allocations shall be made by
the Committee in any manner that reasonably reflects the purpose and intention of this Agreement. Allocations pursuant to this Section
6.02(c) are solely for federal, state and local taxes and shall not affect, or in any way be taken into account in computing any
Member’s Capital Account or share of Net Profit, Net Loss or other items or distributions pursuant to any provision of this
Agreement.

 

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(d) All
elections, decisions and other matters concerning the allocation of profits, gains and losses among the Members, and accounting procedures,
not specifically and expressly provided for by the terms of this Agreement, shall be determined by the Committee in its sole discretion.

 

(e) If
the Committee determines that the manner in which the Members’ Capital Accounts are maintained should be modified, or that any particular
item of income, gain, loss, deduction or credit should be allocated in a manner other than as provided above, including with respect to
the redemption of any Units, the Committee may make the modification or the allocation.

 

Section 6.03.
Tax Allocations. Notwithstanding any provision of this Agreement to the contrary, each item of income, gain, loss, deduction or
credit as determined for U.S. federal income tax purposes shall be allocated in the same manner as the related items are allocated under
Article VI, provided that the Committee may adjust such allocations as may be necessary or desirable to ensure that such
allocations are in accordance with the interests of the Members in the Company, or otherwise comply with the applicable provisions of
the Code and Treasury Regulations (including, for the avoidance of doubt, Section 704(c) of the Code and the regulations promulgated thereunder).
All matters concerning allocations for U.S. federal, state and local income tax purposes (including accounting procedures) not expressly
provided for by the terms of this Agreement shall be determined in good faith by the Committee in a manner intended to satisfy the requirements
of the Code, Treasury Regulations and applicable provisions of the U.S. federal, state or local tax laws. Allocations pursuant to this
Section 6.03 are solely for purposes of federal, state and local taxes and will not affect, or in any way be taken into account
in computing, any Member’s Capital Account or share of Net Profit, Net Losses, Distributions or other items pursuant to any provisions
of this Agreement.

 

Section 6.04.
Allocations in Respect of Transferred Units. In the event of a Transfer during any Fiscal Year made in compliance with the provisions
of Article IX, Net Profit, Net Losses and other items of income, gain, loss and deduction of the Company attributable to such Units
for such Fiscal Year will be determined, except as reasonably determined by the Committee, using the interim closing of the books method
in accordance with applicable Treasury Regulations.

 

ARTICLE
VII

 DISTRIBUTIONS

 

Section 7.01. General.
Subject to Section 7.02 below, the Committee will have sole discretion regarding the amounts and timing of Distributions to
Members, including to decide to forego payment of Distributions in order to comply with Section 18-607 of the Act or to provide for
the retention and establishment of reserves of, or payment to third Persons of, such funds as it deems necessary with respect to the
reasonable business needs of the Company (which needs may include the payment or the making of provision for the payment when due of
the Company’s obligations, including present and anticipated debts and obligations, capital needs and expenses, the payment of
any management or administrative fees and expenses, and reasonable reserves for contingencies).

 

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Section 7.02.
Distributions. If at any time the Committee decides in its sole discretion that the Company shall make any Distributions to the
Members, such Distributions shall be distributed to the Members as follows:

 

(i) First,
to the holders of the Common Units and holders of the Capital Units in proportion to the respective unreturned Capital Contributions of
such Common Units and unreturned Capital Unit Participation Amount of such Capital Units until holders of Common Units and holders of
Capital Units have received aggregate Distributions pursuant to this Section 7.02(i) equal to their unreturned Capital Contributions
(with respect to the Common Units) and their unreturned Capital Unit Participation Amount (with respect to the Capital Units) as of the
date of such Distribution (and for the avoidance of doubt, any Distributions made under this Section 7.02(i) to the holders of
the Common Units shall be deemed as Capital Contributions returned to the holders of Common Units, and any Distributions made under this
Section 7.02(ii) to the holders of the Capital Units shall be deemed as Capital Unit Participation Amount returned to the holders of Capital
Units);

 

(ii) Second,
the remaining Distributions shall be allocated to holders of Common Units in proportion to their respective paid-in Capital Contributions
at the time of such Distribution.

 

Section 7.03. Withholding
Advances. Notwithstanding any provision of this Agreement to the contrary, the Committee is authorized (a) to withhold from
distributions to any Member or with respect to allocations to any Member, and to pay over to a federal, state or local government or
other taxing authority, any taxes required to be so withheld pursuant to the Code, or any corresponding provisions of any other
federal, state or local law (such amounts, “Withholding Taxes”), and (b) subject to obtaining any required
consents and approvals of any settlement agreement, pay any tax, penalty and interest imposed on the Company under Code Sections
6221 through 6241, and under any corresponding provisions of any other federal, state or local law (such amounts,
“Partnership Audit Liabilities”). If the Company and its Managers are obligated to pay such Withholding Taxes
because of a Member’s status or such Withholding Taxes are otherwise specifically attributable to a Member, such Member shall
reimburse the Company in full for the entire amount. The amount of any such (i) Withholding Taxes that are not specifically
attributable to a Member and (ii) Partnership Audit Liabilities shall be allocated among the Members as reasonably determined by the
Committee. Each Member shall indemnify and hold the Company and the other Members harmless against all claims, liabilities and
expenses relating to the Company’s obligation to pay any taxes, interest, penalties or additional amounts allocable to such
Member. Without limiting the generality of the foregoing, to the extent a Member has failed to reimburse the Company pursuant to
this Section 7.03 within fifteen (15) days following the issuance by the Company or any Member of written notice to a Member
of the portion of any Withholding Taxes or Partnership Audit Liabilities that are allocable to such Member, the Company shall have
the right to file an action against such Member in order to obtain full and immediate payment of such amount together with interest
thereon, as well as the reasonable costs of collection. In addition to any other remedies available to the Company, the Company
shall apply all distributions or payments that would otherwise be made to such Member toward payments due from such Member under
this Section 7.03, which payments or distributions shall be applied until such amount (including interest thereon and any
costs of collection) is repaid in full. Any such payments shall be treated as if the Company made Distributions (or payments, as the
case may be) to the Member and such Member repaid such amounts to the Company. The foregoing provisions of this Section 7.03
shall survive any termination of this Agreement, the withdrawal of any Member or the Transfer of any Member’s interest in the
Company.

 

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Section 7.04.
Tax Relief Distributions. Notwithstanding any other provision of this Agreement to the contrary, to the extent that the Company
has Distributable Cash, the Company may, upon Requisite Approval of the Committee, make pro rata Distributions to each Member based on
its Percentage Interest at least equal to such Member’s Cumulative Tax Liability less the cumulative amount of distributions received
by such Member under Section 7.02 (each a “Tax Distribution”). Such Tax Distributions, to the extent paid, shall
be made on a quarterly basis or at such earlier times as the Managers deem appropriate and shall be treated as advances of, or offsets
to, future distributions under this Agreement (as determined by the Committee). The term “Cumulative Tax Liability”
means the product of (i) the cumulative excess of taxable income over taxable losses or tax credits (to the extent usable against such
income) of the Company allocated to a Member pursuant to this Agreement and (ii) the highest combined marginal federal, state and local
tax rates (including any tax on “net investment income”) applicable at the time of the relevant allocation to any Member,
for an individual or corporation resident in New York City, New York (taking into account any tax imposed on “net investment income”
as well as the deductibility of state and local income taxes for U.S. federal income tax purposes). Any and all Tax Distributions under
this Section 7.04 shall be treated as advances of distributions and shall be taken into account in determining the amount of distributions
to the Members under Section 7.02 and Article XII.

 

Section 7.05. Distributions in Kind.

 

(a) Subject
to any requirements set forth in Section 7.02, the Committee (including the Requisite Approval) is hereby authorized, in its sole
discretion, to make Distributions to the Members in the form of securities or other property held by the Company; provided, however,
that Tax Distributions will only be made in cash. In any non-cash Distribution, the securities or property so Distributed will be Distributed
among the Members in the same proportion and priority as cash equal to the Fair Market Value of such securities or property would be Distributed
among the Members pursuant to Section 7.02.

 

(b) Any
Distribution of securities will be subject to such conditions and restrictions as the Committee determines are required or advisable
to ensure compliance with the Act. In furtherance of the foregoing, the Committee may require that the Members execute and deliver
such documents as the Committee may deem necessary or appropriate to ensure compliance with all federal and state securities laws
that apply to such Distribution and any further Transfer of the Distributed securities, and may appropriately legend the
certificates that represent such securities to reflect any restriction on Transfer with respect to such laws.

 

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ARTICLE
VIII

MANAGEMENT

 

Section 8.01.
Establishment of the Committee. A board of managers of the Company (the “Committee”) is hereby established and,
except to the extent otherwise expressly provided in this Agreement, is vested with all rights, powers, obligations and authority to manage
the business and affairs of the Company. The Committee will be comprised of natural Persons (each such Person, a “Manager”)
who will be appointed in accordance with the provisions of Section 8.02. The business and affairs of the Company will be managed,
operated and controlled by or under the direction of the Committee, and the Committee will have, and is hereby granted, the full and complete
power, authority and discretion for, on behalf of and in the name of the Company, to take such actions as it may in its sole discretion
deem necessary or advisable to carry out any and all of the objectives and purposes of the Company, subject only to the terms of this
Agreement. Each of the members of the Committee will be the “Manager” of the Company as provided in the Act, including acting
for and binding the Company. Subject to the provisions set forth herein, the Committee will have the authority to undertake all actions
on behalf of the Company which the Company is authorized to undertake, including to make Distributions and sell assets of the Company,
and will, subject to the provisions set forth herein, have the exclusive right to manage the business and affairs of the Company, and
will, subject to the provisions set forth herein, delegate such management duties and responsibilities to such other Person or Persons
designated by it as it may determine. For the avoidance of any doubt and notwithstanding anything to the contrary contained elsewhere
in this Agreement, all decisions of the Committee will be made subject to the Requisite Approval of the Committee.

 

Section 8.02. Committee Composition; Voting; Vacancies.

 

(a) The
number of Managers constituting the Committee shall be eight as of the date hereof, but may be otherwise determined by the Requisite Approval
of the Committee. The Committee shall be comprised as follows:

 

(i) subject
to Section 8.02(e) below, such number of Managers determined by the Committee to be appointed by the Requisite Approval of the
Committee (the “Ordinary Managers”); and the term of the Ordinary Managers shall be determined by the Committee; and

 

(ii) one
individual appointed by Ms. Chaoying Deng (the “Designated Member”) and such individual shall be a U.S. citizen (the
“Managing Partner”) ; the Managing Partner may continue to serve as Managing Partner until his/her resignation or removal
by the Designated Member; for the avoidance of doubt, the Designated Member may appoint herself as the Managing Partner provided
that the Designated Member is a

U.S. citizen.

 

(b) The
removal of the Ordinary Managers from the Committee or the filling of any vacancy on the Committee resulting therefrom shall only be
authorized and carried out by the Requisite Approval of the Committee. For the avoidance of doubt, the Managing Partner may only be
removed by the Designated Member.

 

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(c) If,
as a result of death, disability, retirement, resignation, removal or otherwise of the Managing Partner, there shall exist or occur any
vacancy on the Committee (the “Managing Partner Vacancy”), the Designated Member may appoint another individual (including
herself/himself, but in any event a U.S. citizen) to fill such Managing Partner Vacancy. The filling of the Managing Partner Vacancy by
the Designated Member pursuant to this Section 8.02(d) shall not require the Requisite Approval of the Committee or the approval
of any other Members. If at any time it is determined, under applicable law or otherwise, that the other Members and/or the Committee
are entitled to vote on the filling of the Managing Partner Vacancy, each Manager and/or Member, as applicable, shall vote in favor of
the individual selected by the Designated Member. If any Manager or Member, as applicable, fails to vote in favor of such individual to
fill the Managing Partner Vacancy, such Manager or Member, as applicable, shall, upon such failure to so vote, be deemed immediately to
have granted to the Designated Member a proxy to vote solely for the filling of the Managing Partner Vacancy. Each proxy granted hereby,
including any successive proxy, if necessary, is given to secure the performance of an obligation hereunder, coupled with an interest,
and shall be irrevocable until such obligation is performed.

 

(d) If,
as a result of death, disability, retirement, resignation, removal or otherwise of any Ordinary Manager, there shall exist or occur any
vacancy on the Committee, the remaining Managers on the Committee entitled under this Section 8.02 to appoint such Manager whose
death, disability, retirement, resignation or removal resulted in such vacancy, subject to the provisions of Section 8.02(d), may
appoint another individual to fill such vacancy and serve as a Manager on the Committee or reduce the number of Managers upon the Requisite
Approval of such remaining Managers.

 

(e) For
the avoidance of doubt, to the extent the Managing Partner resigns from the position of the Managing Partner, unless she indicates otherwise,
such resigned Managing Partner shall automatically become an Ordinary Manager without any further action of the Committee or other Members.

 

(f) The
Managers as of the Effective Date are: Yueting Jia, Matthias Aydt, Jiawei Wang, Tin Mok, Prashant Gulati, Chaoying Deng, Philip Bethell
and Dr. Carsten Breitfeld. Among them, Chaoying Deng has been designated as the Managing Partner.

 

Section 8.03. [Intentionally
Omitted]

 

Section 8.04. Meetings.

 

(a) Generally.
The Committee will meet at such time and at such place as any Manager or the Secretary may designate. Meetings of the Committee may
be held either in person or by means of telephone or video conference or other communications device that permits all Managers
participating in the meeting to hear each other, at the offices of the Company or such other place (either within or outside the
State of Delaware) as may be determined from time to time by the Committee. Written notice of each meeting of the Committee will be
given to each Manager at least one (1) Business Day prior to each such meeting. Any Manager may waive such notice with respect to
himself.

 

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(b) Attendance
and Waiver of Notice. Attendance of a Manager at any meeting will constitute a waiver of notice of such meeting, except where a Manager
attends a meeting for the express purpose of objecting to the transaction of any business on the ground that the meeting is not lawfully
called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Committee need
be specified in the notice or waiver of notice of such meeting.

 

Section 8.05. Quorum; Manner of Acting.

 

(a) Quorum.
The presence of a majority of the Managers then in office will constitute a “Quorum”
for the transaction of business of the Committee. The Manager who has no voting right should not be taken into account in determining
a Quorum.

 

(b) Participation.
A Manager may vote or be present at a meeting either in person or by proxy, and such proxy may be granted in writing, by means of Electronic
Transmission or as otherwise permitted by the Act.

 

(c) Binding
Act. The Committee shall act by the Requisite Approval. With respect to any action to be taken by the Committee, each Manager will
have one vote, except that when there are equal votes on each side, the Managing Partner shall have a casting vote.

 

Section 8.06.
Action By Written Consent. Notwithstanding anything herein to the contrary, any action of the Committee (or any committee of the
Committee, if applicable) may be taken without a meeting if a written consent, by means of Electronic Transmission or as otherwise permitted
by the Act, executed by all of the Managers then in office.

 

Section 8.07. Compensation; Reimbursement; No Employment.

 

(a)
Each Manager will not be compensated for his or her services as a Manager unless otherwise determined by the Committee, but will be reimbursed
for his or her reasonable out-of-pocket expenses incurred in the performance of his or her duties as a Manager, pursuant to such policies
as from time to time established by the Committee. Nothing contained in this Section 8.07 will be construed to preclude any Manager
from serving the Company in any other capacity and receiving reasonable compensation for such services.

 

(b) This
Agreement does not, and is not intended to, confer upon any Manager any rights with respect to employment by the Company, and nothing
herein should be construed to have created any employment agreement with any Manager.

 

Section 8.08.
Committees. The Committee may, by Requisite Approval, designate from among the Managers one or more committees (a “Lower
Committee”); provided, however, that in no event may the Committee designate any Lower Committee with all of the authority
of the Committee.

 

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Section 8.09. Executive Team; Officers.

 

(a) The
Committee may, at such time as it deems advisable, appoint individuals as officers of the Company (collectively, the “Officers”
and each individually, an “Officer”) as it deems necessary or desirable to carry on the day-to-day business and operations
of the Company under the supervision of the Committee and the Committee may delegate to such Officers such power and authority as the
Committee deems advisable. No Officer is required to be a Member or Manager. Any individual may hold two or more offices of the Company.
Each Officer will hold office until his or her successor is designated by the Committee or until his or her earlier death, resignation
or removal. Any Officer may resign at any time upon written notice to the Committee. Any Officer may be removed by the Committee with
or without cause at any time. A vacancy in any office occurring because of death, resignation, removal or otherwise, may, but need not,
be filled by the Committee.

 

(b) Pursuant
to Section 8.09(a), the Committee may at such times as it deems advisable elect a Secretary as an Officer of the Company. The duties
and powers of the Secretary shall be as follows:

 

(i) The
Secretary shall attend all meetings of the Members, the Committee, and any Lower Committee, and shall prepare and maintain minutes or
records of proceedings of all such meetings in a book to be kept for that purpose. The Secretary shall give, or cause to be given, such
notice as may be required of all meetings of the Members, the Committee, and any Lower Committees, shall authenticate and certify records
and proceedings of the Company, shall keep accurate membership records for the Company, and shall perform such other duties as may be
assigned by the Committee or any superior Officer so designated by the Committee. The Secretary shall be authorized to bind the Company
and enter into any material agreements on behalf of the Company, upon the Requisite Approval of the Committee. Any material agreement
that is executed by the Secretary on behalf of the Company without the prior Requisite Approval of the Committee shall be considered null
and void.

 

(ii)
The initial Secretary shall be Nan Yang.

 

Section 8.10.
No Personal Liability. Except as otherwise provided in the Act or expressly in this Agreement (including Section 14.02),
no Officer or Manager will be obligated personally for any debt, obligation or liability of the Company or of any of its Subsidiaries,
whether arising in contract, tort or otherwise, solely by reason of being an Officer or Manager.

 

ARTICLE IX

TRANSFER

 

Section 9.01. General Restrictions on Transfer.

 

(a) No
Member may pledge, transfer or assign, directly or indirectly, all or any portion of their Membership Interests in the Company without
the Requisite Approval of the Committee.

 

(b) If
any Transfer or issuance would cause the Company to be considered a “publicly traded partnership” under Section 7704(b)
of the Code within the meaning of Treasury Regulation Section 1.7704-1(h)(1)(ii), including the look-through rule in Treasury
Regulation Section 1.7704-1(h)(3), each Member agrees that it will not, directly or indirectly, consummate any such Transfer of any
such Units.

 

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ARTICLE
X

COVENANTS

 

Section 10.01. Confidentiality.

 

(a) Each
Member acknowledges that during the term of this Agreement, such Member may have access to and become acquainted with trade secrets, proprietary
information and confidential information belonging to the Company and its Subsidiaries that are not generally known to the public, including
information concerning business plans, financial statements and other information provided pursuant to this Agreement, operating practices
and methods, expansion plans, strategic plans, marketing plans, contracts, customer lists or other business documents which the Company
treats as confidential, in any format whatsoever (including oral, written, electronic or any other form or medium) (collectively, including
any materials containing such information, “Confidential Information”). Subject
to Section 10.01(b) and 10.01(c), no Member shall, during the term of this Agreement, directly or indirectly disclose, communicate or
make available to any Person (including but not limited to the Company’s Subsidiaries but except for the subsidiary directly and
indirectly owned not less than 80% by the Company) other than Persons agreed by the Company with the prior written consent of the Company,
for any reason or purpose whatsoever, any Confidential Information, other than with the prior written consent of the Company.

 

(b)
Nothing contained in Section 10.01(a) will prevent any Member and its Representatives from disclosing Confidential
Information (but only to the extent necessary): (i) upon the order of any court or administrative agency; (ii) upon the request or
demand of any regulatory agency or authority having jurisdiction over such Member; (iii) to the extent compelled by legal process or
required or requested pursuant to subpoena, interrogatories or other discovery requests; (iv) to the extent necessary in connection
with the exercise of any remedy hereunder; (v) to other Members (vi) to such Member’s Representatives who, in the reasonable
judgment of such Member, need to know such Confidential Information for a Company related purpose and are subject to customary
confidentiality obligations substantially similar to those set forth herein; (vii) to any potential transferee in connection with a
proposed Transfer of Units from such Member, as long as such Transferee is subject to customary confidentiality obligations
substantially similar to those set forth herein and the proposed Transfer has been approved by the Committee, (viii) to perform
their duties as a Manager, Officer, employee, consultant or other service provider of the Company or to comply with their legal or
fiduciary duty owed to the Company and/or its Subsidiaries, provided, however, that in the case of clause (i), (ii) or (iii),
such Member will notify the Company of the proposed disclosure as far in advance of such disclosure as practicable and use
reasonable efforts to ensure that any Confidential Information so disclosed is accorded confidential treatment satisfactory to the
Company, when and if available.

 

(c) The
restrictions of Section 10.01(a) will not apply to Confidential Information that: (i) is or becomes generally available to
the public other than as a result of a disclosure by a Member in violation of this Agreement; (ii) is or becomes available to a
Member or any of its Representatives on a non-confidential basis prior to its disclosure to the receiving Member and any of its
Representatives in compliance with this Agreement; (iii) is or has been independently developed or conceived by such Member without
use of Confidential Information; or (iv) becomes available to the receiving Member or any of its Representatives on a non-
confidential basis from a source other than the Company, any other Member or any of their respective Representatives; provided, however,
that such source is not known by the recipient of the Confidential Information to be bound by a confidentiality agreement with the
Company, any Member of the Company, or any of their respective Representatives.

 

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ARTICLE XI

INFORMATION RIGHTS; ACCOUNTING;
TAX MATTERS

 

Section 11.01.
Inspection Rights; Information Rights. Upon reasonable notice from a Member, the Company will, and will cause its Officers and
employees to, afford each Member and his, her or its Representatives reasonable access during normal business hours to (i) the Company’s
and its Subsidiaries’ properties, offices, plants and other facilities, (ii) the corporate, financial and similar records, reports
and documents of the Company and its Subsidiaries, including all books and records, minutes of proceedings, internal management documents,
reports of operations, reports of adverse developments, copies of any management letters and communications with Members or Managers,
and to permit each holder of Units and its Representatives to examine such documents and make copies thereof, and (iii) the Company’s
and its Subsidiaries’ Officers, senior employees and accountants, and to afford each holder of Units and its Representatives the
opportunity to discuss and advise on the affairs, finances and accounts of the Company and its Subsidiaries with their Officers, senior
employees and accountants (and the Company hereby authorizes said accountants to discuss with such holder of Units and its Representatives
such affairs, finances and accounts).

 

Section 11.02. Partnership Representative;.

 

(a) Partnership
Representative. Qing Ye shall be designated the “partnership representative” (the “Partnership Representative”)
as defined in Code Section 6223 and the Company and the Members shall complete any necessary actions (including executing any requested
certificates or other documents) to effectuate such designation. The Partnership Representative may make any elections available to be
made as Partnership Representative, and shall make the election described in Code Section 6226(a)(1) (as in effect following the effective
date of its amendment by Section 1101 of the Bipartisan Budget Act of 2015) to impose any adjustment to taxes proposed by the IRS with
respect to the Company on the Persons that held Membership Interests during the tax period(s) of such proposed adjustment, in accordance
with each such Person’s distributive share of the Company’s net income for such tax period(s).

 

(b) The
Partnership Representative shall receive no compensation for its services as such. All reasonable and documented third party costs
and expenses incurred by the Partnership Representative in performing his, her or its duties as such (including legal and accounting
fees and expenses) shall be borne by the Company. Nothing herein shall be construed to restrict the Company from engaging an
accounting firm to assist the Partnership Representative in discharging his, her or its duties hereunder. The Company shall
indemnify and hold harmless the Partnership Representative with respect to any proceeding brought against it in connection with any
proceeding related to the Partnership Representative acting in its capacity as such, except with respect to actions in which the
Partnership Representative is found to have acted fraudulently or willfully negligent with respect to its rights and
responsibilities as the Partnership Representative.

 

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Section 11.03. Other Tax Matters.

 

(a) Consistent
Tax Reporting. Each Member agrees that such Member will not treat any Company item inconsistently on such Member’s federal,
state, foreign or other income tax return with the treatment of the item on the Company’s return.

 

(b) Tax
Returns. At the expense of the Company, the Managers will endeavor to cause the complete and accurate preparation and timely filing
(including extensions) of all tax returns required to be filed by the Company pursuant to the Code as well as all other required tax returns
in each jurisdiction in which the Company and its Subsidiaries own property or do business. As soon as reasonably possible after the end
of each Fiscal Year, and no later than one hundred twenty (120) days after the end of such Fiscal Year, the Managers will cause to be
delivered to each Person who was a Member at any time during such Fiscal Year, IRS Schedule K-1 to Form 1065 and such other information
with respect to the Company as may be necessary for the preparation of such Person’s federal, state and local income tax returns
for such Fiscal Year. Upon request of any Member, the Company will provide tax data in electronic form as reasonably requested within
one hundred twenty (120) days after the end of such Fiscal Year. The Committee will have the right to select the external firm that prepares
the Company’s tax returns.

 

Section 11.04.
Company Funds. All funds of the Company will be deposited in its name, or in such name as may be designated by the Committee, in
such checking, savings or other accounts, or held in its name in the form of such other investments as will be designated by the Committee
with the Requisite Approval. The funds of the Company will not be commingled with the funds of any other Person. All withdrawals of such
deposits or liquidations of such investments by the Company will be made exclusively upon the signature or signatures of such Officer
or Officers as the Committee may designate.

 

ARTICLE
XII

DISSOLUTION AND LIQUIDATION

 

Section 12.01.
Events of Dissolution. The Company will be dissolved and its affairs wound up only upon the occurrence of any of the following
events (each, a “Dissolution Event”):

 

(a) An
election to dissolve the Company made by the Requisite Approval of the Committee;

 

(b) The
sale, exchange, involuntary conversion, or other disposition or Transfer of all or substantially all of the assets of the Company, other
than a transaction that constitutes a Change of Control; or

 

(c)
The entry of a decree of judicial dissolution under Section 18-802 of the Act.

 

Section 12.02. Effectiveness of Dissolution.
Dissolution of the Company will be effective on the day on which the event described in Section 12.01 occurs, but the Company
will not terminate until the winding up of the Company has been completed, the assets of the Company have been distributed as
provided in Section 12.03 and the Certificate of Formation will have been cancelled as provided in Section 12.04.

 

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Section 12.03.
Liquidation. If the Company is dissolved pursuant to Section 12.01, the Company will be liquidated and its business and
affairs wound up in accordance with the Act and the following provisions:

 

(a) Liquidator.
The Committee or, if the Committee is unable to do so, a Person selected by the Requisite Approval, will act as liquidator to wind up
the Company (the “Liquidator”). The Liquidator will have full power and authority to sell, assign, and encumber any
or all of the Company’s assets and to wind up and liquidate the affairs of the Company in an orderly and business-like manner.

 

(b) Accounting.
As promptly as possible after dissolution and again after final liquidation, the Liquidator will cause a proper accounting to be made
by a recognized firm of certified public accountants of the Company’s assets, liabilities and operations through the last day of
the calendar month in which the dissolution occurs or the final liquidation is completed, as applicable.

 

(c) Distribution
of Proceeds. The Liquidator will liquidate the assets of the Company and Distribute the proceeds of such liquidation in the following
order of priority:

 

(i) first,
to the payment of all of the Company’s debts and liabilities to its creditors (including Members, if applicable) and the expenses
of liquidation (including sales commissions incident to any sales of assets of the Company);

 

(ii) second,
to the establishment of and additions to reserves that are determined by the Committee in its sole discretion to be reasonably necessary
for any contingent unforeseen liabilities or obligations of the Company; and

 

(iii)
third, to the Members in accordance with Section 7.02.

 

(d) Discretion
of Liquidator. Notwithstanding the provisions of Section 12.03(c) that require the liquidation of the assets of the Company,
but subject to the order of priorities set forth in Section 12.03(c), if upon dissolution of the Company the Liquidator determines
that an immediate sale of part or all of the Company’s assets would be impractical or could cause undue loss to the Members, the
Liquidator may defer the liquidation of any assets except those necessary to satisfy Company liabilities and reserves, and may, in its
absolute discretion, Distribute to the Members, in lieu of cash, as tenants in common and in accordance with the provisions of Section
12.03(c), undivided interests in such Company assets as the Liquidator deems not suitable for liquidation. Any such Distribution
in kind will be subject to such conditions relating to the disposition and management of such properties as the Liquidator deems reasonable
and equitable and to any agreements governing the operating of such properties at such time. For purposes of any such Distribution, any
property to be Distributed will be valued at its Fair Market Value.

 

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Section 12.04.
Cancellation of Certificate of Formation. Upon completion of the Distribution of the assets of the Company as provided in Section
12.03(c) hereof, the Company will be terminated and the Liquidator will cause the cancellation of the Certificate of Formation in
the State of Delaware and of all qualifications and registrations of the Company as a foreign limited liability company in jurisdictions
other than the State of Delaware and will take such other actions as may be necessary to terminate the Company.

 

Section 12.05.
Survival of Rights, Duties and Obligations. Dissolution, liquidation, winding up or termination of the Company for any reason will
not release any Party from (a) any Loss which at the time of such dissolution, liquidation, winding up or termination already had accrued
to any other Party or which thereafter may accrue in respect of any act or omission prior to such dissolution, liquidation, winding up
or termination, or (b) any obligation pursuant to Section 10.01, which will survive the dissolution, liquidation, winding up or
termination of the Company for any reason. For the avoidance of doubt, none of the foregoing will replace, diminish or otherwise adversely
affect any Member’s right to indemnification pursuant to Section 13.03.

 

Section 12.06.
Recourse for Claims. Each Member will look solely to the assets of the Company for all Distributions with respect to the Company,
such Member’s Capital Account, and such Member’s share of Net Profit, Net Loss and other items of income, gain, loss and deduction,
and will have no recourse therefor (upon dissolution or otherwise) against the Committee, the Liquidator or any other Member.

 

ARTICLE
XIII

EXCULPATION AND INDEMNIFICATION

 

Section 13.01. Exculpation of Managers.

 

(a) Standard
of Care. No Manager will be liable to the Company, any other Manager or any other Person bound by this Agreement for any Loss by reason
of any action taken or omitted to be taken by such Manager in good-faith reliance on the provisions of this Agreement, so long as such
action or omission does not constitute fraud or willful misconduct by such Manager.

 

(b) Good
Faith Reliance. A Manager will be fully protected in relying in good faith upon the records of the Company and upon such information,
opinions, reports or statements (including financial statements and information, opinions, reports or statements as to the value or amount
of the assets, liabilities, Net Profit or Net Losses of the Company or any facts pertinent to the existence and amount of assets from
which Distributions might properly be paid) of the following Persons or groups: (i) another Manager; (ii) one or more Officers; (iii)
any attorney, independent accountant, appraiser or other expert or professional employed or engaged by or on behalf of the Company, in
each case as to matters that such relying person reasonably believes to be within such other Person’s professional or expert competence;
or (iv) any other Person selected in good faith by or on behalf of the Company, in each case as to matters that such relying Person reasonably
believes to be within such other Person’s professional or expert competence.

 

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Section 13.02. Liabilities and Duties of Managers.

 

(a) To the
extent that, at law or in equity, any Member, Manager or observer to the Committee has duties (in each case other than duties arising
as an employee or officer of the Company or a Subsidiary of the Company) and liabilities relating to the Company or to any other Member,
the Company and each other Member hereby waives such duties to the fullest extent permitted under applicable laws and acknowledges that
the Company and such Member shall only be entitled to enforce the express provisions in this Agreement or any other agreement between
the Company or its Subsidiaries, on the one hand, and any such Member, Manager or observer to the Committee, on the other hand. No Member,
Manager (in each case other than duties arising as an employee or officer of the Company or a Subsidiary of the Company) or observer to
the Committee shall be liable to the Company or to any other Member for such Person’s reliance on the express provisions of this
Agreement (or for exercising its rights hereunder for its own best interests) or for any approval or authorization granted by the Company
or any other Member in connection therewith. The provisions of this Agreement are agreed by the Members, to the fullest extent permitted
by applicable law, to replace any other express or deemed duties or liabilities of any Member, Manager (in each case other than duties
arising as an employee or officer of the Company or a Subsidiary of the Company) or observer to the Committee (including any fiduciary,
corporate opportunity or similar duties), other than liability for any act or omission that constitutes fraud or an intentional breach.

 

Section 13.03. Indemnification.

 

(a) Indemnification.
To the fullest extent permitted by the Act, as the same now exists or may hereafter be amended, substituted or replaced (but, in the case
of any such amendment, substitution or replacement only to the extent that such amendment, substitution or replacement permits the Company
to provide broader indemnification rights than the Act permitted the Company to provide prior to such amendment, substitution or replacement),
the Company will indemnify, hold harmless, defend, pay and reimburse any Manager against any and all losses, claims, damages, judgments,
fines or liabilities, including reasonable legal fees or other expenses incurred in investigating or defending against such losses, claims,
damages, judgments, fines or liabilities, and any amounts expended in settlement of any claims (collectively, “Losses”)
to which such Manager may become subject by reason of:

 

(i) Any
act or omission or alleged act or omission performed or omitted to be performed on behalf of the Company, any Member or any direct or
indirect Subsidiary of the foregoing in connection with the business of the Company or any of its Subsidiaries; or

 

(ii) The
fact that such Manager is or was acting in connection with the business of the Company as a partner, member, stockholder, controlling
Affiliate, manager, director, officer, employee or agent of the Company, any Member, or any of their respective controlling Affiliates,
or that such Manager is or was serving at the request of the Company as a partner, member, manager, director, officer, employee or agent
of any Person including the Company or any of its Subsidiaries;

 

provided, however, that (x)
such Manager acted in good faith and in a manner believed by such Manager to be in, or not opposed to, the best interests of the
Company and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful, and
(y) such Manager’s conduct did not constitute fraud or willful misconduct, in either case as determined by a final,
nonappealable order of a court of competent jurisdiction. In connection with the foregoing, the termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, will not, of
itself, create a presumption that the Manager did not act in good faith or, with respect to any criminal proceeding, had reasonable
cause to believe that such Manager’s conduct was unlawful, or that the Manager’s conduct constituted fraud or willful
misconduct; provided, further, that, unless the Committee otherwise determines, no Person will be entitled to
indemnification hereunder with respect to a proceeding initiated by such Person or with respect to a proceeding between such Person
on the one hand and any of the Company or its Subsidiaries on the other.

 

(b) Reimbursement.
The Company will promptly reimburse (and/or advance to the extent reasonably required) each Manager for reasonable legal or other expenses
(as incurred) of such Manager in connection with investigating, preparing to defend or defending any claim, lawsuit or other proceeding
relating to any Losses for which such Manager may be indemnified pursuant to this Section 13.03; provided, however,
that if it is finally judicially determined that such Manager is not entitled to the indemnification provided by this Section 13.03,
then such Manager will promptly reimburse the Company for any reimbursed or advanced expenses.

 

(c)
Entitlement to Indemnity. The indemnification provided by this Section 13.03 will not be deemed exclusive of any other
rights to indemnification to which those seeking indemnification may be entitled under any agreement or otherwise. The provisions of
this Section 13.03 will continue to afford protection to each Manager regardless of whether such Manager remains in the position
or capacity pursuant to which such Manager became entitled to indemnification under this Section 13.03 and will inure to the benefit
of the executors, administrators, legatees and distributees of such Manager.

 

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(d) Insurance.
To the extent available on commercially reasonable terms, the Company will purchase and maintain, at its expense as determined by
the Committee (including the Requisite Approval), insurance to cover Losses covered by the foregoing indemnification provisions and
to otherwise cover Losses for any breach or alleged breach by any Manager of such Manager’s duties in such amount and with
such deductibles as the Committee may determine; provided, however, that the failure to obtain such insurance will not
affect the right to indemnification of any Manager under the indemnification provisions contained herein, including the right to be
reimbursed or advanced expenses or otherwise indemnified for Losses hereunder. If any Manager recovers any amounts in respect of any
Losses from any insurance coverage, then such Manager will, to the extent that such recovery is duplicative, reimburse the Company
for any amounts previously paid to such Manager by the Company in respect of such Losses. The Company hereby acknowledges that the
Managers may have certain rights to indemnification, advancement of expenses and/or insurance provided by the Parties or their
respective Affiliates (excluding the Company and its Subsidiaries). The Company hereby agrees, on behalf of itself and its
Subsidiaries, (i) that it is an indemnitor of first resort (i.e., its obligations to each of the Managers are primary and any
obligation of the Parties or their respective Affiliates to advance expenses or to provide indemnification for the same expenses or
liabilities incurred by or on behalf of any of the Managers is secondary), (ii) that it will be required to advance the full amount
of expenses incurred by or on behalf of each of the Managers and will be liable for the full amount of all Losses to the extent
legally permitted and as required by the terms of this Agreement (or, to the extent applicable, the Act), without regard to any
rights such Managers may have against the Parties or their respective Affiliates (including under director and officer insurance
policies), and (iii) that it irrevocably waives, relinquishes and releases the Parties and their respective Affiliates from any and
all claims for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no
advancement or payment by the Parties or their respective Affiliates on behalf of a Managers with respect to any claim for which a
Manager has sought indemnification from the Company or any Subsidiary of the Company will affect the foregoing, and the Parties and
their respective Affiliates will have a right of contribution and/or be subrogated to the extent of such advancement or payment to
all of the rights of recovery of a Manager against the Company or any Subsidiary of the Company. The Company and each of the
Managers agree that the Parties and their respective Affiliates are express third-party beneficiaries of the terms of this Section
13.03(d).

 

(e) Funding
of Indemnification Obligation. Notwithstanding anything contained herein to the contrary, any indemnity by the Company relating to
the matters covered in this Section 13.03 will be provided out of and to the extent of Company assets only, and no Member (unless
such Member otherwise agrees in writing) will have personal liability on account thereof or will be required to make additional Capital
Contributions to help satisfy such indemnity by the Company.

 

(f) Savings
Clause. If this Section 13.03 or any portion hereof will be invalidated on any ground by any court of competent jurisdiction,
then the Company will nevertheless indemnify and hold harmless each Manager pursuant to this Section 13.03 to the fullest extent
permitted by any applicable portion of this Section 13.03 that will not have been invalidated and to the fullest extent permitted
by Delaware law.

 

(g) Amendment.
The provisions of this Article XIII may be amended or repealed in accordance with Section 14.09; provided, however,
that no amendment or repeal of such provisions that adversely affects the rights of a Manager under this Article XIII with respect
to his or her acts or omissions at any time prior to such amendment or repeal, will apply to such Manager without his or her consent.

 

(h) The
provisions of this Section 13.03 will be a contract between the Company, on the one hand, and each Manager who served in such capacity
at any time while this Section 13.03 is in effect, on the other hand, pursuant to which the Company and each such Manager intend
to be legally bound. No amendment, modification or repeal of this Section 13.03 that adversely affects the rights of a Manager
to indemnification for Losses incurred or relating to a state of facts existing prior to such amendment, modification or repeal will apply
in such a way as to eliminate or reduce such Manager’s entitlement to indemnification for such Losses without the Manager’s
prior written consent.

 

Section 13.04. Survival.
The provisions of this Article XIV will survive the dissolution, liquidation, winding up and termination of the Company.

 

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ARTICLE
XIV

MISCELLANEOUS

 

Section 14.01.
Expenses. Except as otherwise expressly provided herein, all costs and expenses, including fees and disbursements of counsel, financial
advisors and accountants, incurred in connection with the preparation and execution of this Agreement, or any amendment or waiver hereof,
and the transactions contemplated hereby will be paid by the Party incurring such costs and expenses.

 

Section 14.02.
Further Assurances. In connection with this Agreement and the transactions contemplated hereby, the Company and each Member hereby
agree, at the request of the Company or any other Member, to execute and deliver such additional documents, instruments, conveyances and
assurances and to take such further actions as may be required to carry out the provisions hereof and give effect to the transactions
contemplated hereby.

 

Section 14.03.
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder will be in writing and will
be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if
sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with
confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal
business hours of the recipient; or (d) on the third (3rd) day after the date mailed, by certified or registered mail, return receipt
requested, postage prepaid. Such communications must be sent to the respective Parties at the following addresses (or at such other address
for a Party as will be specified in a notice given in accordance with this Section 14.03):

 

	 	If to the Company:	 	FF Global Partners LLC 

3655 Torrance Blvd	 
	 	 	 	Suite 361-362	 
	 	 	 	Torrance CA 90503 

Attention: Chaoying Deng	 
	 	 	 	 	 
	 	with a copy to:	 	O’Melveny & Myers	 
	 	 	 	Plaza 66, Tower 1, 37th Floor	 
	 	 	 	1266 Nanjing Road West, Shanghai China 200040	 
	 	 	 	Attention: Walker Wallace	 
	 	 	 	E-mail: wwallace@omm.com	 

 

If to a Member, to such Member’s respective mailing
address as set forth on the Members Schedule.

 

Section 14.04.
Headings. The headings in this Agreement are inserted for convenience or reference only and are in no way intended to describe,
interpret, define, or limit the scope, extent or intent of this Agreement or any provision of this Agreement.

 

Section
14.05. Severability. If any term or provision of this Agreement is held to be invalid, illegal or unenforceable under law of
the State of Delaware, such invalidity, illegality or unenforceability will not affect any other term or provision of this Agreement
or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or
other provision is invalid, illegal or unenforceable, the Parties will negotiate in good faith to modify this Agreement so as to
effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible.

 

    32

     

    

 

Section 14.06.
Entire Agreement. This Agreement, together with the Certificate of Formation, and all related Annexes, Exhibits and Schedules,
constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein and therein, and supersedes
all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such
subject matter. To the extent there is any conflict or inconsistency between the terms of this Agreement and any other agreements entered
or to be entered into by and between any Member and the Company, this Agreement shall prevail.

 

Section 14.07.
Successors and Assigns. Subject to the restrictions on Transfers set forth herein, this Agreement will be binding upon and will
inure to the benefit of the Parties and their respective heirs, executors, administrators, successors and assigns.

 

Section 14.08.
No Third-Party Beneficiaries. Except as provided in Article XIV, which will be for the benefit of and enforceable by Managers
as described therein, this Agreement is for the sole benefit of the Parties (and their respective heirs, executors, administrators, successors
and assigns) and nothing herein, express or implied, is intended to or will confer upon any other Person, including any creditor of the
Company, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section 14.09.
Amendment. The provisions of this Agreement may be amended or waived at any time only in writing, which is executed by the Committee
members representing the Requisite Approval of the Committee.

 

Section 14.10.
Company Counsel. In connection with the negotiations of this Agreement, the Company has selected O’Melveny & Myers LLP
(“Company Counsel”) as legal counsel to the Company. Each Member acknowledges that Company Counsel does not represent
Qing or Matthias, nor any other Member in connection with the transactions contemplated herein.

 

Section 14.11.
Waiver. Each Member irrevocably waives any right it may have to maintain any action for dissolution of the Company or for partition
of the property of the Company. The failure of any Member to insist upon strict performance of a covenant hereunder or of any obligation
hereunder, irrespective of the length of time for which such failure continues, will not be a waiver of such Member’s right to demand
strict compliance herewith in the future. No consent or waiver, express or implied, to or of any breach or default in the performance
of any obligation hereunder, will constitute a consent or waiver to or of any other breach or default in the performance of the same or
any other obligation hereunder.

 

Section
14.12. Governing Law. All issues and questions concerning the application, construction, validity, interpretation and
enforcement of this Agreement will be governed by and construed in accordance with the internal laws of the State of Delaware,
without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of Delaware.

 

    33

     

    

 

Section 14.13.
Dispute Resolution. The Parties to this Agreement agree that any and all disputes or controversies between them related to this
Agreement shall be resolved exclusively by confidential binding arbitration pursuant to the JAMS Comprehensive Arbitration Rules and Procedures,
and the arbitration shall be conducted in Los Angeles, California. The arbitration shall be conducted before a single neutral arbitrator
with at least ten (10) years of experience who shall be mutually agreed upon by the Parties to the dispute or, if the Parties are unable
to agree upon the choice of the arbitrator, then the arbitrator shall be selected by JAMS in accordance with the foregoing rules. Each
Member consents to the jurisdiction of the federal courts located in the State of California, county of Los Angeles, to confirm and enforce
any arbitration award. The decision in writing of the arbitrator, when delivered to the Parties, shall be final and binding on the Parties.
The fees and costs of the dispute resolution shall be borne equally (50%) by each of the Parties; provided, that the reasonable
attorney’s fees and costs associated with the arbitration shall be awarded to the prevailing Party. The Members hereby irrevocably
waive any and all right to trial by court or by jury, as well as the ability to challenge Los Angeles, California as the appropriate venue.
Each Party retains its respective right to contest, oppose or to take such other actions as may be permitted under federal law with respect
to any proceeding relating to the entry and/or confirmation of the JAMS arbitration award under the rules and procedures applicable in
the federal court (including to the extent applicable under federal law the right under applicable court rules and procedures to request
an appeal of any federal district court order and/or judgment with respect to any JAMS arbitration award).

 

Section 14.14.
Equitable Remedies. Each Party acknowledges that a breach or threatened breach by such Party of any of its obligations under this
Agreement would give rise to irreparable harm to the other Parties, for which monetary damages would not be an adequate remedy, and hereby
agrees that in the event of a breach or a threatened breach by such Party of any such obligations, each of the other Parties will, in
addition to any and all other rights and remedies that may be available to them in respect of such breach, be entitled to equitable relief,
including a temporary restraining order, an injunction, specific performance and any other relief that may be available from a court of
competent jurisdiction (without any requirement to post bond).

 

Section 14.15.
Remedies Cumulative. The rights and remedies under this Agreement are cumulative and are in addition to and not in substitution
for any other rights and remedies available at law or in equity or otherwise.

 

Section 14.16.
Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together
will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of Electronic
Transmission will be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[Signature Page Follows]

 

    34

     

    

 

IN WITNESS WHEREOF, the Parties
have caused this Agreement to be executed as of the date first written above by an authorized representative.

 

	 	THE COMPANY:
	 	 	 	 
	 	FF GLOBAL PARTNERS LLC
	 	 
	 	By:	/s/ Chaoying Deng
	 	 	Name: 	Chaoying Deng
	 	 	Title:	Managing Partner

 

[Signature Page to Second Amended and Restated LLC Agreement]

 

     

     

    

 

ANNEX A

 

FORM OF JOINDER AGREEMENT

 

Reference is
hereby made to the Second Amended and Restated Limited Liability Company Agreement of FF Global Partners LLC, dated as of May 16, 2022,
as amended, restated and/or otherwise modified from time to time (the “LLC Agreement”), among FF Global Partners LLC,
a company organized under the laws of Delaware (the “Company”), and the members of the Company that are party thereto.
Pursuant to and in accordance with Section 4.01(b) of the LLC Agreement, the undersigned hereby acknowledges that it has received
and reviewed a complete copy of the LLC Agreement and agrees that upon execution of this Joinder Agreement, such Person will become a
party to the LLC Agreement and will be fully bound by, and subject to, all of the covenants, terms and conditions of the LLC Agreement
as though an original party thereto and will be deemed, and is hereby admitted as, a Member for all purposes thereof and entitled to all
the rights incidental thereto.

 

Capitalized
terms used herein without definition will have the meanings ascribed thereto in the LLC Agreement.

 

IN WITNESS WHEREOF, the parties have executed this
Agreement as of [DATE].

 

	 	FF GLOBAL PARTNERS LLC
	 	 
	 	By:	
	 	 	Name: 	Chaoying Deng
	 	 	Title:	Managing Partner
	 	 	 	 
	 	[NEW MEMBER]EX-4.3

 Exhibit 4.3 

Final 
 THE BANK OF NEW YORK MELLON
CORPORATION 
 401(k) SAVINGS PLAN 

Amended and Restated 

Effective as of January 1, 2021 
  

 Table of Contents 

Page 
  

							
	 PREAMBLE
	 		  	 	1	 
			
	 ARTICLE I
	 	 DEFINITIONS
	  	 	9	 
	 1.1
	 	A&M	  	 	9	 
	 1.2
	 	Account	  	 	9	 
	 1.3
	 	Account Balance	  	 	10	 
	 1.4
	 	Accrued Benefit	  	 	10	 
	 1.5
	 	After-Tax Contributions	  	 	10	 
	 1.6
	 	After-Tax Contributions Account	  	 	10	 
	 1.7
	 	Appropriate Form	  	 	10	 
	 1.8
	 	Assigned Loan	  	 	10	 
	 1.9
	 	BAC	  	 	10	 
	 1.10
	 	Beneficiary	  	 	11	 
	 1.11
	 	Benefit Commencement Date	  	 	11	 
	 1.12
	 	BIC	  	 	11	 
	 1.13
	 	BNY Mellon Stock	  	 	11	 
	 1.14
	 	BNY Mellon Pension Plan	  	 	11	 
	 1.15
	 	Board	  	 	11	 
	 1.16
	 	Code	  	 	11	 
	 1.17
	 	Combination Date	  	 	11	 
	 1.18
	 	Contract Contributions	  	 	12	 
	 1.19
	 	Contract Contribution Account	  	 	12	 
	 1.20
	 	Controlled Group	  	 	12	 
	 1.21
	 	Corporation	  	 	12	 
	 1.22
	 	Domestic Partner	  	 	12	 
	 1.23
	 	Eligible Compensation	  	 	13	 
	 1.24
	 	Employee	  	 	14	 
	 1.25
	 	Employee Contributions	  	 	15	 
	 1.26
	 	Employer	  	 	15	 
	 1.27
	 	Employment Commencement Date	  	 	15	 
	 1.28
	 	Entry Date	  	 	15	 
	 1.29
	 	ERISA	  	 	15	 
	 1.30
	 	GIS Merger Date	  	 	15	 
	 1.31
	 	GIS Plan	  	 	16	 
	 1.32
	 	Highly Compensated Employee	  	 	16	 
	 1.33
	 	Hour of Service	  	 	16	 
	 1.34
	 	Hourly Employee	  	 	17	 
	 1.35
	 	Inactive Participant	  	 	17	 
	 1.36
	 	Investment Funds	  	 	17	 
	 1.37
	 	IRS	  	 	17	 
	 1.38
	 	Legacy BNY Entity	  	 	17	 
	 1.39
	 	Legacy BNY Savings Plan	  	 	17	 
	 1.40
	 	Legacy BNY Securities Group Plan	  	 	18	 
	 1.41
	 	Legacy GIS Entity	  	 	18	 
	 1.42
	 	Legacy Mellon Entity	  	 	18	 
	 1.43
	 	Long Term Disability Plan	  	 	18	 
	 1.44
	 	Matching Contributions	  	 	18	 
	 1.45
	 	Matching Contributions Account	  	 	18	 
	 1.46
	 	Merger Date	  	 	18	 

  
 - i - 

							
	 1.47
	 	Non-Highly Compensated Employee	  	 	18	 
	 1.48
	 	Normal Retirement Age	  	 	19	 
	 1.49
	 	Pareto Partners	  	 	19	 
	 1.50
	 	Pareto Plans Transfer Date	  	 	19	 
	 1.51
	 	Pareto 401(k) Plan	  	 	19	 
	 1.52
	 	Pareto MPP Plan	  	 	19	 
	 1.53
	 	Participant	  	 	20	 
	 1.54
	 	Plan	  	 	20	 
	 1.55
	 	Plan Manager	  	 	20	 
	 1.56
	 	Plan Year	  	 	20	 
	 1.57
	 	Prior Employer Spousal Consent Account	  	 	20	 
	 1.58
	 	Prior Plan	  	 	20	 
	 1.59
	 	Qualified Default Investment Alternative	  	 	20	 
	 1.60
	 	Qualified Distribution	  	 	20	 
	 1.61
	 	Related and Affiliated Entities	  	 	21	 
	 1.62
	 	Retirement Contributions	  	 	21	 
	 1.63
	 	Retirement Contributions Account	  	 	21	 
	 1.64
	 	Rollover Contributions	  	 	21	 
	 1.65
	 	Rollover Contributions Account	  	 	21	 
	 1.66
	 	Roth Contributions	  	 	22	 
	 1.67
	 	Roth Contributions Account	  	 	22	 
	 1.68
	 	Russell/Mellon Merger Date	  	 	22	 
	 1.69
	 	Russell/Mellon Plan	  	 	23	 
	 1.70
	 	Salaried Employee	  	 	23	 
	 1.71
	 	Securities Group Merger Date	  	 	23	 
	 1.72
	 	Service	  	 	23	 
	 1.73
	 	Self-Directed Account	  	 	25	 
	 1.74
	 	Spousal Consent	  	 	26	 
	 1.75
	 	Spouse	  	 	26	 
	 1.76
	 	Total and Permanent Disability	  	 	26	 
	 1.77
	 	Transferee Participant	  	 	26	 
	 1.78
	 	Transferred Amounts	  	 	27	 
	 1.79
	 	Transferred Amounts Account	  	 	27	 
	 1.80
	 	Triggering Event	  	 	27	 
	 1.81
	 	Trust	  	 	27	 
	 1.82
	 	Trust Agreement	  	 	27	 
	 1.83
	 	Trustee	  	 	27	 
	 1.84
	 	Valuation Date	  	 	27	 
			
	 ARTICLE II
	 	 PARTICIPATION
	  	 	28	 
	 2.1
	 	Eligibility for Participation	  	 	28	 
	 2.2
	 	Termination of Active Participation	  	 	28	 
			
	 ARTICLE III
	 	 CONTRIBUTIONS AND VESTING
	  	 	29	 
	 3.1
	 	Employer Contributions	  	 	29	 
	 3.2
	 	Employee Contributions	  	 	29	 
	 3.3
	 	Employer Matching Contributions	  	 	36	 
	 3.4
	 	Participant’s Account; Vesting	  	 	37	 
	 3.5
	 	Diversion of Plan Assets; Mistaken Contributions	  	 	39	 
	 3.6
	 	Transferred Amounts	  	 	39	 
	 3.7
	 	In-Plan Roth Conversions	  	 	40	 
	 3.8
	 	Rollover Contributions	  	 	41	 
	 3.9
	 	Employer Retirement Contributions	  	 	44	 

  
 - ii - 

							
	 ARTICLE IV
	 	 INVESTMENT AND VALUATION OF ACCOUNTS
	  	 	46	 
	 4.1
	 	Investment Options	  	 	46	 
	 4.2
	 	Employer Stock Fund	  	 	48	 
	 4.3
	 	Investment Elections	  	 	48	 
	 4.4
	 	Limitations on Investments	  	 	53	 
	 4.5
	 	Prohibited Transactions	  	 	54	 
	 4.6
	 	Valuation of Investment Funds	  	 	55	 
	 4.7
	 	Valuation and Adjustment of Accounts	  	 	55	 
	 4.8
	 	Participant’s Risk	  	 	57	 
	 4.9
	 	Quarterly Statements	  	 	57	 
	 4.10
	 	Interim Investments	  	 	57	 
			
	 ARTICLE V
	 	 VOTING
	  	 	58	 
	 5.1
	 	Right to Vote / Tender	  	 	58	 
	 5.2
	 	Voting / Tender Procedures	  	 	58	 
			
	 ARTICLE VI
	 	 WITHDRAWALS, IN-SERVICE WITHDRAWALS, AND
LOANS
	  	 	60	 
	 6.1
	 	Effective Date	  	 	60	 
	 6.2
	 	Hardship Withdrawals	  	 	60	 
	 6.3
	 	In-Service Withdrawal of After-Tax and Rollover Contributions	  	 	62	 
	 6.4
	 	Withdrawal Upon Attainment of Age 59 1/2	  	 	63	 
	 6.5
	 	Additional Rules Relating to Withdrawals	  	 	63	 
	 6.6
	 	Loans	  	 	64	 
	 6.7
	 	Temporary CARES Act Enhancements	  	 	73	 
	 6.8
	 	Qualified Birth or Adoption Distribution	  	 	76	 
			
	 ARTICLE VII
	 	 BENEFITS
	  	 	78	 
	 7.1
	 	Events of Distribution	  	 	78	 
	 7.2
	 	Distribution	  	 	78	 
	 7.3
	 	Method of Payment	  	 	80	 
	 7.4
	 	Medium of Payment	  	 	83	 
	 7.5
	 	Facility of Payment	  	 	85	 
			
	 ARTICLE VIII
	 	 ADMINISTRATION
	  	 	86	 
	 8.1
	 	Adoption of Integrated Fiduciary Governance Structure	  	 	86	 
	 8.2
	 	Named Fiduciaries; Administrator	  	 	86	 
	 8.3
	 	Allocations and Delegations of Fiduciary Responsibility	  	 	87	 
	 8.4
	 	Powers and Duties	  	 	88	 
	 8.5
	 	Discharge of Duties	  	 	91	 
	 8.6
	 	Procedures	  	 	91	 
	 8.7
	 	Establishment of Rules	  	 	92	 
	 8.8
	 	Limitation of Liability	  	 	92	 
	 8.9
	 	Compensation and Insurance	  	 	92	 
	 8.10
	 	Removal and Resignation	  	 	92	 
	 8.11
	 	Claims Procedure	  	 	93	 
	 8.12
	 	Coordination Between the BAC and the BIC	  	 	95	 
			
	 ARTICLE IX
	 	 TRUST AND TRUSTEE
	  	 	96	 
	 9.1
	 	Trust	  	 	96	 
	 9.2
	 	Removal or Resignation	  	 	96	 

  
 - iii - 

							
	 ARTICLE X
	 	 AMENDMENT, TERMINATION, AND MERGER
	  	 	97	 
	 10.1
	 	Amendment	  	 	97	 
	 10.2
	 	Failure to Qualify	  	 	98	 
	 10.3
	 	Discontinuance of Contributions and Termination of the Plan	  	 	98	 
	 10.4
	 	Vesting and Distribution Upon Termination by the Corporation	  	 	98	 
	 10.5
	 	Merger	  	 	99	 
			
	 ARTICLE XI
	 	 DISTRIBUTION AND ACCRUAL REQUIREMENTS IMPOSED BY THE CODE
	  	 	100	 
	 11.1
	 	Additional Limitation on Contributions	  	 	100	 
	 11.2
	 	Definitions and Rules	  	 	101	 
	 11.3
	 	Actual Deferral l Percentage Test	  	 	103	 
	 11.4
	 	Actual Contribution Percentage Test	  	 	103	 
	 11.5
	 	Order of Testing	  	 	104	 
	 11.6
	 	Mid-Year Discretionary Remedial Procedure to Prevent Excess Contract Contribution Amounts, Excess Contribution Percentages or Excess Aggregate Contribution Percentages	  	 	104	 
	 11.7
	 	Year-End Correction of Excess Contract Contribution Amounts, Excess Contribution Percentages and Excess Aggregate Contribution Percentages	  	 	105	 
	 11.8
	 	Maximum Contributions	  	 	108	 
	 11.9
	 	Mandatory Distributions Required by Law	  	 	109	 
	 11.10
	 	Top-Heavy Provisions	  	 	119	 
			
	 ARTICLE XII
	 	 MISCELLANEOUS
	  	 	123	 
	 12.1
	 	Participant’s Rights	  	 	123	 
	 12.2
	 	Spendthrift Clause	  	 	123	 
	 12.3
	 	Unclaimed Amounts	  	 	124	 
	 12.4
	 	Judicial or Administrative Proceedings	  	 	124	 
	 12.5
	 	Power to Interplead	  	 	125	 
	 12.6
	 	Limitation of Benefit	  	 	125	 
	 12.7
	 	Construction of Plan	  	 	125	 
	 12.8
	 	Plan Expenses	  	 	125	 
	 12.9
	 	Liability of Officers and Directors	  	 	125	 
	 12.10
	 	Rights of Reemployed Veterans	  	 	126	 
	 12.11
	 	Corrections of Errors	  	 	126	 
			
	 ARTICLE XIII
	 	 EMPLOYEE STOCK OWNERSHIP PLAN
	  	 	127	 
	 13.1
	 	Establishment of ESOP	  	 	127	 
	 13.2
	 	ESOP Requirements	  	 	127	 
	 13.3
	 	Vesting	  	 	128	 
	 13.4
	 	Payment of Dividends	  	 	128	 
			
	 ARTICLE XIV
	 	EXECUTION	  	 	129	 

  

					
	APPENDIX A	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE BUCK SAVINGS AND PROFIT SHARING PLAN	  	A-1
			
	APPENDIX B	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE MIS RETIREMENT SAVINGS PLAN	  	B-1
			
	APPENDIX C	  	LEGACY MELLON ENTITIES	  	C-1

  
 - iv - 

					
	APPENDIX D	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE EMPLOYEE SAVINGS & INVESTMENT PLAN OF THE BANK OF NEW YORK COMPANY, INC.	  	D-1
			
	APPENDIX E	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE PNC GLOBAL INVESTMENT SERVICING INC. RETIREMENT SAVINGS PLAN.	  	E-1
			
	APPENDIX F	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE RETIREMENT SAVINGS PLAN OF BNY SECURITIES GROUP. RETIREMENT SAVINGS PLAN.	  	F-1
			
	APPENDIX G	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE RUSSELL/MELLON 401(K) PLAN	  	G-1
			
	APPENDIX H	  	PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE PARETO PARTNERS 401(K) AND MONEY PURCHASE PENSION PLANS	  	H-1

  

  
 - v - 

 PREAMBLE 

WHEREAS, THE BANK OF NEW YORK MELLON CORPORATION (successor in interest to Mellon Financial Corporation on and after July 1, 2007
pursuant to the terms of that certain Agreement and Plan of Merger among Mellon Financial Corporation, The Bank of New York Company, Inc. and the Bank of New York Mellon Corporation dated December 3, 2006, as amended and hereinafter referred to
as the “Corporation”) established, on the 20th day of October, 1987, by a resolution of the Board of Directors, a savings plan for the benefit of eligible employees as set forth herein, effective as of January 1, 1987 and known as the
Mellon Bank Corporation Retirement Savings Plan (the “Plan”); and 
 WHEREAS, the Plan is intended to operate as a vehicle to
encourage the long-term accumulation of assets for ultimate distribution to eligible employees upon their subsequent retirement, death, disability or other severance from employment from the Corporation by:
(a) providing such participating employees with the opportunity to participate in the profits of the Corporation and save towards their own retirement on a tax-favored basis; and (b) by discouraging
investment activities which (i) speculate on short-term market fluctuations or are inconsistent with the stated policies of the investment option, (ii) may possibly have an adverse effect on the
investment return of participants not engaging in such activities, or (iii) are otherwise inconsistent with the stated goal of encouraging the long-term accumulation of assets for retirement; and 

WHEREAS, the Plan is intended to constitute a qualified profit sharing plan with a cash or deferred arrangement under Sections 401(a) and
401(k) of the Internal Revenue Code of 1986, as amended (the “Code”), and the Trust which forms a part hereof is intended to be tax-exempt under Code Section 501(a) and to constitute the sole
source of benefits for Participants and their Beneficiaries; and 
 WHEREAS, a favorable determination letter was received from the Internal
Revenue Service with respect to the Plan as originally adopted; and 
 WHEREAS, the Plan was amended and restated effective January 1,
1989 to comply with the requirements of the Omnibus Budget Reconciliation Act of 1987, the Technical and Miscellaneous Revenue Act of 1988, the Revenue Reconciliation Act of 1989, and the Omnibus Budget Reconciliation Act of 1990; and 

WHEREAS, the Plan was further amended and restated effective January 1, 1998 to provide for daily valuation of Participants’
Accounts, to rename the Plan the “Mellon 401(k) Retirement Savings Plan”, to provide for paperless administration of the Plan, and to reflect amendments to the Plan subsequent to its amendment and restatement; and 

  
 1 

 WHEREAS, the Plan was amended thereafter to: (i) comply with changes in applicable law
including, but not limited to, the applicable provisions of the Small Business Job Protection Act of 1996, the Taxpayer Relief Act of 1997, and the Economic Growth and Tax Relief Reconciliation Act of 2001; (ii) incorporate certain design
changes, such as eliminating the one-year waiting period for eligibility to participate in the Plan and providing Participants with greater rights to diversify the portion of their accounts invested in the
common stock of the Corporation; and (iii) make certain technical and clarifying changes to the Plan; and 
 WHEREAS, the Plan was
further amended and restated effective as of January 1, 2006, to, among other things: (i) reflect changes in applicable law, including but not limited to the final regulations governing cash or deferred arrangements under Code
Section 401(k) and matching contributions under Code Section 401(m); (ii) incorporate the disability determination under the Mellon Bank Long-Term Disability Plan in the definition of
“Total and Permanent Disability”; and (iii) eliminate certain optional forms of payment under the Prior Plans that were merged with and into this Plan, effective as of January 1, 2007; and 

WHEREAS, the Plan was amended and restated, effective as of January 1, 2009 and such other dates as set forth therein, to, among other
things: (i) incorporate amendments to the Plan subsequent to its 2006 amendment and restatement; (ii) reflect the Corporation’s intention to operate the Plan as a safe harbor plan under Code Section 401(k)(12) effective on and
after January 1, 2009; (iii) reflect changes in applicable law since the amendment and restatement effective as of January 1, 2006, including (a) applicable mandatory provisions of the Heroes Earnings Assistance and Relief Tax
Act of 2008 (the “HEART Act”), (b) applicable mandatory provisions of the Pension Protection Act of 2006 (the “PPA”), and (c) the new IRS Code Section 415 regulations that became applicable to the Plan in 2008;
(iv) confirm, in the spirit of the freeze-in-place resolution dated July 9, 2007, that, notwithstanding the consolidation of the payroll and Human Resource
recordkeeping systems effective as of July 1, 2008, participants in this Plan prior to July 1, 2008 continue to be participants in this Plan on and after July 1, 2008; (v) clarify that all individuals hired or rehired by the
Corporation on and after July 1, 2008 who, as of their date of hire or rehire, are not eligible to participate in The Retirement Savings Plan of BNY Securities Group shall be eligible to participate in this Plan regardless of the legacy entity
to which they are assigned; (vi) provide for the treatment of employees transferred among legacy The Bank of New York Company, Inc. and legacy Mellon Financial Corporation entities on and after July 1, 2008; (vii) reflect the
addition, effective July 21, 2008, of 

  
 2 

 
a new two-level fiduciary governance structure consisting of (a) an appointing and monitoring fiduciary whose sole function is to appoint, monitor,
and (if necessary) replace the members of the operating fiduciary committees, and (b) two operating fiduciary committees responsible, respectively, for investment and administrative matters; and (vii) make certain other technical,
conforming, and clarifying changes to the Plan; and 
 WHEREAS, the Corporation (successor in interest to The Bank of New York Company, Inc.
on and after July 1, 2007 pursuant to the terms of that certain Agreement and Plan of Merger among Mellon Financial Corporation, The Bank of New York Company, Inc. and the Bank of New York Mellon Corporation dated December 3, 2006, as
amended) adopted the Employee Savings & Investment Plan of The Bank of New York Company, Inc. (the “Legacy BNY Savings Plan”) effective January 1, 1972, which is a cash or deferred arrangement described in Section 401(k)
of the Code; and 
 WHEREAS, the Legacy BNY Savings Plan was amended and restated effective as of January 1, 1994 (or such later dates
as specified therein) to (i) incorporate additional statutory changes to the qualification requirements under Code Section 401(a) made by the General Agreement on Tariffs and Trade, the Uniformed Services Employment and Re-employment Rights Act, the Small Business Job Protection Act of 1996, the Tax Relief Act of 1997, the Internal Revenue Service Restructuring and Reform Act of 1998 and the Community Renewal Relief Act of 2000,
(ii) reflect certain other changes to the Legacy BNY Savings Plan and (iii) to include all amendments adopted since its last Internal Revenue Service favorable determination letter, including “good faith” amendments to comply with the
Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”); and 
 WHEREAS, the Legacy BNY Savings Plan was further
amended, effective October 1, 2002, to convert the Company Stock Fund (Fund D) into an employee stock ownership plan described in Section 4975(e)(7) of the Code, with the portion of the Legacy BNY Savings Plan other than Fund D remaining a
profit sharing plan and Fund D intended to qualify as a stock bonus plan, and contributions to the Legacy BNY Savings Plan not required to be made out of profits or retained earnings; and 

WHEREAS, the Legacy BNY Savings Plan was further amended and restated in its entirety, effective January 1, 2004, after required notice
to eligible employees, to convert it to a “safe harbor” 401(k) plan described in Section 401(k)(12) of the Code with a matching contribution satisfying Section 401(m)(11) of the Code, to effect the merger of the Employee
Incentive Savings Plan (the “Incentive Savings Plan”) into the Legacy BNY Savings Plan pursuant to which the Legacy BNY Savings Plan is a successor to the Incentive Savings Plan and to implement certain other changes; and 

  
 3 

 WHEREAS, the Legacy BNY Savings Plan was subsequently amended and restated to reflect
guidance on the application of the “top heavy” qualification rules to “safe harbor” 401(k) plans issued in 2004 and to make certain other clarifying changes; and 

WHEREAS, the Legacy BNY Savings Plan was further amended and restated in its entirety, effective January 1, 2009 and such other dates as
set forth therein, to (i) incorporate amendments to the Legacy BNY Savings Plan subsequent to its 2004 amendment and restatement; (ii) reflect changes in applicable law, including (a) applicable mandatory provisions of the Heroes
Earnings Assistance and Relief Tax Act of 2008 (the “HEART Act”), (b) applicable mandatory provisions of the Pension Protection Act of 2006 (the “PPA”), and (c) the Code Section 415 regulations that became applicable to
the Legacy BNY Savings Plan in 2008; (iii) confirm, in the spirit of the freeze in place resolution dated July 9, 2007, that notwithstanding the consolidation of the payroll and Human Resource recordkeeping systems effective July 1, 2008,
participants in the Legacy BNY Savings Plan prior to July 1, 2008 continue to be participants in the Legacy BNY Savings Plan on and after July 1, 2008; (iv) clarify that all individuals hired or rehired by the Corporation on and after
July 1, 2008 who, as of their date of hire or rehire, are not eligible to participate in The Retirement Savings Plan of BNY Securities Group shall be eligible to participate in the Mellon 401(k) Retirement Savings Plan also sponsored by the
Corporation regardless of the legacy entity to which they are assigned and shall not, therefore, be eligible to participate in the Legacy BNY Savings Plan; (v) provide for the treatment of employees transferred among legacy The Bank of New York
Company, Inc. and legacy Mellon Financial Company entities on and after July 1, 2008; (vi) reflect the addition, effective July 21, 2008, of a new two-level fiduciary governance structure consisting
of (a) an appointing and monitoring fiduciary whose sole function is to appoint, monitor, and (if necessary) replace the members of the operating fiduciary committees, and (b) two operating fiduciary committees responsible, respectively,
for investment and administrative matters; and (vii) eliminate the one year of service requirement for purposes of eligibility to receive matching contributions, effective as of July 1, 2008; (viii) eliminate the two percent (2%) core
contribution; and (ix) make certain other technical and clarifying changes to the Plan; and 
 WHEREAS, the Legacy BNY Savings Plan has
been merged with and into the Plan, effective as of the Merger Date hereafter defined with the surviving plan renamed “The Bank of New York Mellon Corporation 401(k) Savings Plan”; and 

  
 4 

 WHEREAS, the “Merger Date” is generally April 1, 2009 except for those
certain Legacy BNY Savings Plan participants who were not subject to the blackout period related to the April 1, 2009 merger and whose names are reflected on a list maintained by the Plan Manager and whose interest under the Legacy BNY Savings
Plan was merged into the Plan effective as of May 5, 2009; and 
 WHEREAS, the Plan was further amended, effective April 1, 2009,
to harmonize the in-service withdrawal features of the separate plans and to otherwise effectuate the provisions of the integrated retirement program approved by the Human Resources & Compensation
Committee of the Board of Directors of The Bank of New York Mellon Corporation at its July 2008 meeting; and 
 WHEREAS, the Plan was
amended and restated effective April 1, 2009 to reflect the merger of the Legacy BNY Savings Plan with and into the Plan, incorporate certain technical amendments made to the Plan since its January 1, 2009 amendment and restatement and
apply generally to employees whose employment terminates on or after April 1, 2009, and the rights of employees whose employment terminated before that date shall continue to be determined under the terms and conditions of the Plan and the
Legacy BNY Savings Plan as in effect at the time of such termination, unless expressly provided otherwise herein; 
 WHEREAS, the Plan was
amended and restated effective as of January 1, 2011 to, among other things: (i) incorporate the First (Merger) Amendment, the Second (Auto Enrollment) Amendment and the Third (WRERA Compliance) Amendment, which Amendments:
(A) implemented the merger of the PNC Global Investment Servicing Inc. Retirement Savings Plan with and into the Plan; (B) reflected the addition of an automatic enrollment feature and; (C) added the statutory changes to the
qualification requirements under Code Section 401(a) made by The Worker, Retiree, and Employer Recovery Act of 2008 (“WRERA”); (ii) incorporate certain design changes adopted by the Corporation’s Human Resources and Compensation
Committee at its October 11, 2010 meeting (the “2011 Design Changes”), including, among other things: (A) the addition of a 2% Retirement Contribution for certain Employees; (B) a change in the “safe harbor”
matching contribution formula; (C) the provision of a 2010 Retirement Contribution for a specific group of employees hired on or after January 1, 2010 not eligible to accrue a benefit under The Bank of New York Mellon Corporation Pension
Plan, (D) to reflect the addition of a Profit Sharing Contribution, effective January 1, 2012 and (E) to reflect the merger of The Retirement Savings Plan of BNY Securities Group with and into the Plan in accordance with the terms of
Appendix F hereto effective as of December 31, 2011 or such later date as the Corporation, in its sole discretion, may determine (the “Securities Group Merger Date”), and (iii) make certain related and conforming changes;

  
 5 

 WHEREAS, in conjunction with the filing of the Plan for an “on cycle”
determination of whether the Plan, as amended since the April 1, 2009 amended and restated version of the Plan covered by the Internal Revenue Service’s (“IRS”) favorable determination letter dated April 7, 2014, continues
to satisfy the requirements of Section 401(a) of the Internal Revenue Code, the Plan was amended and restated effective as of December 1, 2014 to: (i) incorporate the following amendments: (A) the Qualification Amendment to the
January 1, 2011 version of the Plan adopted as a condition of the IRS’ issuance of its April 7, 2014 determination letter; (B) the First (Russell / Mellon) Merger Amendment providing for the merger of the Russell / Mellon Plan
with and into the Plan effective as of January 21, 2014 and preserving certain benefits, rights and features as set forth in a new Appendix G; (C) the Second (Roth) Amendment adding a Roth,
after-tax, contribution feature effective as of April 1, 2014 and (D) the Third (Pareto Transfer) Amendment providing for the transfer of certain assets from the terminated Pareto Partners 401(k) and
Money Purchase Pension Plans with and into the Plan effective as of November 28 and December 1, 2014, respectively, and preserving certain benefits, rights and features as set forth in a new Appendix H, and (ii) make certain related
and conforming changes; 
 WHEREAS, the Plan was amended and restated effective as of July 1, 2015 to, among other things:
(i) expand the eligibility for the Retirement Contribution to all participants adversely affected by the cessation of accruals under The Bank of New York Mellon Corporation Pension as of June 30, 2015; (ii) eliminate the discretionary
Profit Sharing Contribution effective for periods commencing on and after January 1, 2015; (iii) as contemplated by Revenue Ruling 98-30, cause all eligible employees who are not enrolled in the Plan as
of June 30, 2016 to be automatically enrolled pursuant to a special, one-time, enrollment effective as of July 1, 2016, (iv) add a so-called “auto
escalation” contribution feature similar to the one described in Revenue Ruling 2009-30 to become effective as of July 1, 2017 and (iv) make certain related and conforming changes; 

WHEREAS, the Plan as amended and restated effective as of July 1, 2015 was subsequently amended by: (i) the First Amendment to add
the language necessary to implement, as of July 1, 2017, the “auto escalation” contribution feature authorized by the Human Resources and Compensation Committee of the Board of Directors (“HR&CC”) in it resolution
of January 29, 2015 approving the Plan document as amended and restated as of July 1, 2015 and to expand the eligibility for the Retirement Contribution to all participants on 

  
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long-term disability; (ii) the Second Amendment revising the language describing the determination of the interest rate to be charged to Plan participants who receive a residential loan from
their Plan accounts to reflect current Plan administration; (iii) the Third Amendment adding Domestic Partners to the Plan’s death benefit hierarchy and hardship withdrawal provisions, expanding the loan repayment options for active
participants so as to make them consistent with those provided to terminated participants or those on disability and modifying the involuntary cash out rules applicable to small payments such that they do not cause the annual, involuntary, cash out
of the 2% basic retirement contribution for persons who took an earlier disability distribution; and (the Fourth (CARES Act) amendment adopted by the Chief Executive Officer authorizing the Global Head of Human Resources to adopt such formal
amendments as such Global Head of Human Resources may, in her/his discretion, determine to be necessary or appropriate to implement the special distribution, loan and other relief provisions made available to plan sponsors under the Coronavirus Aid,
Relief, and Economic Security Act signed by the President on March 27, 2020 (the “CARES Act”) and adopted, in principle, by the CEO, together with such additional amendments as the Global Head of Human Resources may determine
to be advisable or appropriate to facilitate the administration of the CARES Act options and/or recommended, in the interests of efficiency, to be done at that same time as the CARES Act and related amendments, all as further described in said
Fourth (CARES Act) Amendment; and 
 WHEREAS, the Human Resources and Compensation Committee, at its meetings of August 10, 2020 and
October 13, 2020, has adopted resolutions authorizing and directing each of the CEO, the Global Head of Human Resources and the Global Head of Compensation and Benefits, to cause the Plan to be further amended to: (i) effective on and
after September 28, 2020, impose a twenty percent (20%) limit on participant allocations to the common stock of the Corporation (“BK Stock”) such that no new Participant directions to transfer a portion of their existing Account will
be honored if the transfer would cause the total allocation to BK Stock to exceed 20% and no new contributions may be invested in BK Stock for so long as the existing allocation is in excess of 20%; (ii) generally effective as of January 1,
2021, revise the current matching and employer contribution formulae to (a) increase the Corporation’s maximum matching contribution from five percent (5%) to seven percent (7%) (to a maximum dollar amount of $16,000); (b) replace the
current two percent (2%) basic contribution with a flat $750 contribution to be made to the accounts of Participants whose annual base pay or rate as of the first day of the Plan Year is less than $100,000, who are Non Highly Compensated, who are
credited with at least one year of service under the Plan and employed on the last day of the Plan Year and (c) provide for a three (3) year vesting schedule for participants hired after December 31, 2020; (iii) increase the level of
automatic enrollment for participants hired on and after January 1, 2021 to seven percent (7%); and (iv) make conforming and related changes; and 

  
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 WHEREAS, the Benefits Administration Committee, at its Annual Plan Review meeting of
March 13, 2020, was advised by management that the Plan was being administered so as to: (i) remove the six-month suspension of pre- and post-tax contributions as a consequence of taking a hardship distribution and to incorporate other changes required by the revised hardship regulations, (ii) comply with the restrictions on death benefit
distribution options to non-spouse beneficiaries, to incorporate the increase in the required beginning age from 70 1⁄2 to
72 and to incorporate other changes required by the SECURE Act, and (iii) to comply with related and conforming changes; and the Chair of the Benefits Administration Committee, in the interests of efficiency and best practices, has determined
to exercise her authority to amend the Plan to incorporate changes required by law to cause the Plan to be amended to reflect such administration and law changes by the adoptions of such changes in this amended and restated document. 

NOW, THEREFORE, in order to accomplish the aforementioned intentions and intending to be legally bound, the Corporation, hereby amends and
restates the Plan, generally effective as of January 1, 2021 (the “Effective Date”) but with such later effective dates as specified herein. 

  
 8 

 ARTICLE I 

DEFINITIONS 
 The
following words and phrases as used herein shall have the following meanings unless a different meaning is clearly required or indicated by the context: 

1.1 “A&M” means the Appointing and Monitoring Committee of the Corporation established by that certain Board resolution
adopted March 10, 2008, as it may from time to time be constituted, or its duly appointed delegate. 
 1.2 “Account”
means the account established and maintained by the BAC in the name of each Participant on the books and records of the Plan to which all allocations under the Plan applicable to the rights of the Participant are made and which holds the
Participant’s interest in each Investment Fund. Such Account shall be subdivided into an After-Tax Contributions Account, Contract Contributions Account, Roth Contributions Account, Matching Contributions
Account, Rollover Contributions Account (which shall be further subdivided into a Roth and Non-Roth amounts, as necessary), Transferred Amounts Account, Retirement Contributions Account and such other
subaccounts as the BAC deems necessary or appropriate. Each subaccount that is established and maintained on behalf of each Participant shall be subdivided further into an “ESOP Account”, as defined in Section 13.1, and a “Non-ESOP Account” which shall consist of the portion of such subaccount that is not invested in the Employer Stock Fund. By way of illustration and not limitation: contributions and withdrawals of Roth
Contributions and/or Roth Rollover Contributions will be separately credited and debited to the Roth Contributions Account and/or Roth Rollover Contributions subaccount maintained for each Participant in accordance with Section 4.7; such
accounts shall maintain a record of both: the first taxable year of the Participant in which a Roth Contribution and/or Roth Rollover Contribution was credited to such accounts as well as the amount of Roth Contributions in each Participant’s
account; and no contributions other than Roth Contributions and properly attributable earnings and losses will be credited to such accounts. Notwithstanding the forgoing, that portion of a Participant’s Rollover Contributions Account
attributable to a Roth Rollover shall be combined with the Participant’s Roth Contributions Account solely for purposes of determining whether or not any distribution from this Plan constitutes a “Qualified Distribution” and as
otherwise required by Code Section 402A and applicable guidance thereunder 

  
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 1.3 “Account Balance” means the Participant’s Accrued Benefit plus the
Participant’s proportionate interest in Plan assets, if any, attributable to his Transferred Amounts Account and/or Rollover Contributions Account. 

1.4 “Accrued Benefit” means the Participant’s proportionate interest in the Plan assets, attributable to Employee
Contributions, Matching Contributions and Retirement Contributions to this Plan, held by the Trustee as determined in relation to the interests of all other Participants in the Plan. The particular dollar value of such Participant’s
proportionate interest as of any time of reference shall not be deemed to represent the Participant’s Accrued Benefit. Any amounts credited to a Participant’s Transferred Amounts Account established pursuant to Section 3.6, and/or any
amounts credited to a Participant’s Rollover Contributions Account established pursuant to Section 3.8, and the value of such amounts as of any time of reference thereafter, shall not be deemed part of the Accrued Benefit. 

1.5 “After-Tax Contributions” mean the contributions that a Participant elects to make
to the Plan on an after-tax basis pursuant to Section 3.2 and which are neither equivalent to Roth Contributions nor subject to the limitations applicable to the Roth and Contract Contributions permitted
under the Plan. After-Tax Contributions shall cease after the termination of a Participant’s agreement to contribute such amounts as evidenced by the Appropriate Form. 

1.6 “After-Tax Contributions Account” means the account established, where necessary
under Section 3.2, to reflect that portion of the Trust that is attributable to After-Tax Contributions made on behalf of such Participant. 

1.7 “Appropriate Form” means the form provided or prescribed by the BAC, the BIC or their delegates for a particular purpose
hereunder. To the extent relevant, “Appropriate Form” shall also include those processes and procedures prescribed by the BAC or the BIC for providing voting and other instructions, making elections and taking other actions under the Plan
through the use of telephones, computers or other “paperless” means. 
 1.8 “Assigned Loan” means a loan made to a
Transferee Participant by a Prior Plan represented by a promissory note or other evidence of indebtedness and any and all security for such loan which was transferred directly to the Trustee of this Plan by the trustee of such other Prior Plan as
part of the transfer of such Prior Plan’s assets. 
 1.9 “BAC” means the Benefits Administration Committee of the
Corporation, as it may from time to time be constituted, or its duly appointed delegate. 

  
 10 

 1.10 “Beneficiary” means the person (or class of persons), legal or
natural, designated by the Participant, in writing on the Appropriate Form (or similar form of a Prior Plan merged into this Plan) prior to his death, to receive benefits payable in the event of a Participant’s death prior to his Benefit
Commencement Date. If the Participant has a Spouse on the date of his death, the Participant’s Spouse shall be the Participant’s automatically designated Beneficiary, unless the Participant shall have: (a) designated in writing a non-spouse Beneficiary, and (b) received Spousal Consent to such designation. 
 A Participant may
from time to time, and at any time prior to death or distribution of the Account Balance hereunder, change the Beneficiary designation, subject to the rules regarding Spousal Consent. All Beneficiary designations made on an Appropriate Form (or on a
similar form under a Prior Plan merged into this Plan, if applicable) shall be held on file by the BAC or its delegate / record keeper and shall remain binding until changed by the Participant in accordance with this Section. In the event that there
exists no valid Beneficiary designation (including an automatic spousal designation) on the date of the Participant’s death, any benefits payable hereunder which arise by reason of the Participant’s death shall be paid first to the
Domestic Partner and, if none, to the estate of the Participant. 
 1.11 “Benefit Commencement Date” means the first day on
which all events have occurred which entitle the Participant to distribution of his Account Balance under the Plan. 
 1.12
“BIC” means the Benefits Investment Committee of the Corporation as it may from time to time be constituted, or its duly appointed delegate.. 

1.13 “BNY Mellon Stock” means the common stock of the Corporation, par value $.01. 

1.14 “BNY Mellon Pension Plan” means The Bank of New York Mellon Corporation Pension Plan as amended and restated effective as
of January 1, 2020 and as such Plan may be amended from time to time thereafter. 
 1.15 “Board” means the Board of
Directors of the Corporation as it may from time to time be constituted and its duly appointed delegate. 
 1.16 “Code”
means the Internal Revenue Code of 1986, as amended. 
 1.17 ”Combination Date” means the July 1, 2007 date as of which
The Bank of New York Mellon Corporation became the successor in interest to the Legacy BNY Entity and the Legacy Mellon Entity pursuant to the terms of that certain Agreement and Plan of Merger among the Legacy BNY Entity, the Legacy Mellon Entity
and The Bank of New York Mellon Corporation dated December 3, 2006 as amended. 

  
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 1.18 “Contract Contributions” mean those contributions made by an Employer
to the Plan in consideration of an Employee agreeing (or being treated as agreeing) to take an equivalent reduction in Eligible Compensation pursuant to the agreement (or deemed agreement) between the Employer and the Employee evidenced by the
Appropriate Form. Contract Contributions shall cease after the termination of a Participant’s agreement (or deemed agreement) to take a reduction in Eligible Compensation as evidenced by the Appropriate Form. Except as otherwise stated or as
may be apparent from the context, on and after April 1, 2014, references to “Contract Contributions” shall be understood to include references to Roth Contributions. 

1.19 “Contract Contributions Account” means the account established, where necessary under Section 3.2, to reflect that
portion of the Trust which is attributable to Contract Contributions, other than Roth Contributions, made on behalf of such Participant. 

1.20 “Controlled Group” means the Corporation and any subsidiary or affiliate which is a member of a controlled group of
corporations, a group of trades or businesses under common control, or an affiliated service group (as defined in Code Sections 414(b), (c), and (m), respectively), or which must be aggregated pursuant to Code Section 414(o) and the regulations
thereunder, except that for purposes of Sections 1.72(d)(iii) and 11.7, the modification provided for in Code Section 415(h) shall be taken into account. 

1.21 “Corporation” means The Bank of New York Mellon Corporation. Effective for periods prior to July 1, 2007, the term
“Corporation” meant Mellon Financial Corporation. 
 1.22 “Domestic Partner” shall have the meaning ascribed to
such term: (a) under Chapter 12B.1 of the San Francisco, California Administrative Code; (b) under other applicable law; or (c) by the Corporation; generally to mean a person (who is at least 18 years of age) to whom a Participant
(who is at least 18 years of age) is not legally married (and who is not legally married to someone else), to whom the Participant is not related by blood, with whom the Participant shares a principal residence, and with whom the Participant is in a
relationship that is intended to be both permanent and one in which each is the sole domestic partner of the other, provided such Participant signs a confirmation (in a form acceptable to the Corporation) affirming his status and, provided, further,
that the Participant promptly notifies the Corporation of any change in such status. 

  
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 1.23 “Eligible Compensation” means the base pay, base salary, or other base
method of compensation or pay established by an Employer for the services of an Employee and reported as income on the Employee’s IRS Form W-2 (determined, however, on a payroll period basis), increased
by any amounts that would have been reported on the IRS Form W-2 but for the Employee’s election under Code Sections 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b), but excluding all
other forms of irregular or additional compensation within the meaning of Treasury Regulations 1.415(c)-2(d)(3) and 1.414(s)-1(d)(2), such exclusion to include, by way
of illustration and not limitation: one-time payments in lieu of merit increases, any type of additional compensation for employees working outside their regularly scheduled tour of duty (such as overtime pay,
premiums for shift differentials and call-in premiums) commissions (except as otherwise provided below with respect to individuals with no base method of compensation); bonuses in all forms; payments in lieu
of vacation; payments to health, retirement, unemployment, death, disability, or any other similar plan generally classified as a welfare or pension plan; any special purpose payments such as car or expense allowances, moving expenses, or
educational payments; amounts paid as displacement or severance following a Participant’s severance of employment within the meaning of Treasury Regulation Section 1.415(c)-2(e)(3); and any other
payments held to be irregular or additional under uniform rules of the Plan Administrator. Compensation shall further include base compensation that is paid after a Participant’s severance of employment to the extent that it is paid within the
time limitations of Treasury Regulation Section 1.415(c)-2(e)(3)(i) (i.e., by the later of two and one-half months after severance of employment or the end of the
Plan Year in which the severance date occurs) and constitutes post-severance payments of regular pay, as described in Treasury Regulation Section 1.415(c)-2(e)(3)(ii). If a Participant who is on active
military duty receives differential wage payments (as defined in Code Section 3401(h)(2)), such differential wage payments shall be treated as Eligible Compensation for purposes of the Plan to the extent so required by Code
Section 3401(h)(2). Eligible Compensation shall be determined by the Employer. 
 For any group of employees who are in the same job
classification and who receive no base pay, base salary, or other base method of compensation or pay for services, the term “Eligible Compensation” for any Plan Year means, the control point of the applicable salary grade for such job
classification for such Plan Year as determined under the Employer’s salary administration policy (determined, however, on a payroll period basis), but without regard to any adjustments to compensation as specified in the preceding paragraph.

  
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 Notwithstanding the foregoing, Eligible Compensation in excess of $290,000 shall be
disregarded; provided, that such limitation shall be automatically adjusted annually after 2021 (if necessary) in accordance with Code Section 401(a)(17) and the regulations thereunder (the “Compensation Limitation”). 

1.24 Definition of “Employee” 

(a) Prior to the Effective Date, “Employee” means each common law employee of an Employer as described under the terms
of the Plan as amended and restated effective as of July 1, 2015, as amended through December 31, 2020. 
 (b) After the
Effective Date “Employee” means each common law employee of an Employer who: (i) performs services as a Salaried Employee or an Hourly Employee, (ii) serves in a position which is not covered by a collective bargaining
agreement, except where an applicable collective bargaining agreement provides for his participation in the Plan, (iii) who is either a citizen of, or domiciled in, the United States, and (iv) as an employee, receives income which is
taxable in the United States. It is expressly intended that any person who is not carried on an Employer’s payroll records as a common law employee is to be excluded from the definition of Employee regardless of whether such person’s
employment status is recharacterized by any court or government agency. When the first letter of the word “employee” is not capitalized, employee shall mean a common law employee of any member of the Controlled Group. 

“Employee” shall include leased employees within the meaning of Code Section 414(n)(2), but only to the extent required by Code
Section 414(n). Notwithstanding the foregoing, if such leased employees constitute less than twenty percent (20%) of the Employer’s nonhighly compensated work force within the meaning of Code Section 414(n)(5)(C)(ii), the term
“Employee” shall not include those leased employees covered by a plan described in Code Section 414(n)(5)(B). Anything in this definition to the contrary notwithstanding, no leased employee shall be eligible to participate in this
Plan in any manner whatsoever unless the Board otherwise authorizes such participation. 
 For purposes of this Section, a “leased
employee” (as defined in Code Section 414(n)(2)) shall mean any person who pursuant to an agreement between an Employer and any other person (leasing organization) has performed services for the Employer (or any related person determined
in accordance with Code Section 414(n)(6)), on a substantially full-time basis for a period of at least one (1) year, and such services are performed under the primary direction and control of the
recipient of such services. 

  
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 (c) Transfers and Rehires between and among Legacy Mellon and Legacy BNY
Entities. 
 (i) Prior to Merger Date.. Whether or not an employee’s transfer or rehire prior to the Merger Date between
and among Legacy Mellon and Legacy BNY entities affects his status as an “Employee” under this Plan shall be determined in accordance with the terms of the Plan and the Legacy BNY Securities Group Plan as in effect prior to the Merger
Date. 
 (ii) Transfers or Rehires occurring after the Merger Date. Effective on and after the Merger Date, an employee’s
transfer or rehire between and among entities within the definition of “Employer” eligible to participate in this Plan and those previously eligible to participate in the Legacy BNY Securities Group Plan, by itself, will not affect such
employee’s status as an “Employee” eligible to participate in this Plan. 
 1.25 “Employee Contributions”
means a Participant’s Contract Contributions, Roth Contributions and/or After-Tax Contributions. 

1.26 “Employer” means the Corporation, any successors in interest thereto, and any other Related and Affiliated Entities. 

1.27 “Employment Commencement Date” means the date on which an Employee first performs an Hour of Service. If an Employee has
suffered a Break in Service as defined in Section 1.72(e)(i), “Employment Commencement Date” shall mean the most recent date after such Break in Service that the Employee first performs an Hour of Service. 

1.28 “Entry Date” means the first day of any payroll period. 

1.29 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

1.30 “GIS Merger Date” means the Closing Date, as defined in that certain Stock Purchase Agreement (the
“Agreement”) dated as of February 1, 2010 by and between PNC and the Corporation setting forth the terms and conditions of the Corporation’s acquisition of GIS, as of which the GIS Plan was merged with and into this Plan.

  
 15 

 1.31 “GIS Plan” means the PNC Global Investment Servicing Inc. Retirement
Savings Plan as it existed immediately prior to the GIS Merger Date and prior to its merger with and into the Plan. 
 1.32 “Highly
Compensated Employee” means (i) an employee who was a five percent (5%) owner (as defined in Code Section 416(i)(1)(B)(i)) of a member of the Controlled Group at any time during the Determination Year or Look-Back Year; or (ii) received compensation from the Controlled Group during the Look-Back Year in excess of $130,000 as adjusted after 2021, if necessary, pursuant to
Code Section 414(q). The determination of who is a Highly Compensated Employee will be made in accordance with Code Section 414(q) and the regulations thereunder. 

For this purpose, the “Determination Year” shall be the Plan Year. The
“Look-Back Year” shall be the twelve (12) month period immediately preceding the Determination Year. 

To the extent required by applicable law, a “Highly Compensated Employee” shall also include a former employee, who is any employee
who separated from service (or was deemed to have separated) prior to the Determination Year, performs no service for any member of the Controlled Group during the Determination Year, and was a Highly Compensated Employee for either his separation
year or any Determination Year ending on or after such employee’s fifty-fifth (55th) birthday. 

1.33 “Hour of Service” means each hour for which an employee is paid, or entitled to payment, by any member of the Controlled
Group for the performance of duties or service for the Controlled Group. Solely for purposes of determining if an employee has met the requirements to be an Hourly Employee under Section 1.34, Hours of Service shall also include each hour for
which an employee is paid or entitled to payment by any member of the Controlled Group on account of a period during which no duties are performed, whether or not the employment relationship has terminated, due to vacation, holiday, illness,
incapacity (including disability), layoff, jury duty, or leaves of absence, but not more than 501 hours for any single continuous period. Unless previously credited, Hours of Service shall include hours for which back pay, irrespective of mitigation
of damages, is either awarded or agreed to by a member of the Controlled Group. No hours shall be credited on account of any period during which the employee performs no duties and receives payment solely for the purpose of complying with
unemployment compensation, workers’ compensation, or disability insurance laws. An Hour of Service shall be computed and credited in a manner consistent with regulation subsections 2530.200b-2(b), (c),
and (d) issued by the Secretary of Labor. 

  
 16 

 1.34 “Hourly Employee” means each common law employee of an Employer who is
both: (a) compensated on the basis of hours worked; and (b) first credited with one thousand (1,000) or more Hours of Service in the twelve (12) month period which commences on his Employment Commencement Date or thereafter in any
Plan Year commencing on or after his Employment Commencement Date. Such common law employees shall be treated as an “Hourly Employee” as of the Entry Date next following the later of January 1, 2009, or their satisfaction of clause
(b) in the preceding sentence and shall remain an Hourly Employee regardless of the Hours of Service credited in future computation periods. 

1.35 “Inactive Participant” means an individual who is an employee (who is no longer an “Employee” as hereinabove
defined) or former employee (who has elected to defer receipt of his Account Balance pursuant to Section 7.2) who has a non-forfeitable right to an Account Balance under the terms of the Plan. An Inactive
Participant shall be treated in all respects as a Participant in the Plan, except that: (a) except as otherwise provided in Section 3.9(a)(iii) for persons receiving benefits under the Long Term Disability Plan, he shall be ineligible to
receive an allocation of any contributions made under Article III other than Rollover Contributions to the extent permitted by Section 3.8 and (b) former employees and employees who are Totally and Permanently Disabled or an unpaid
leave of absence shall be ineligible to receive a loan under Article VI. 
 1.36 “Investment Funds” means the separate
investment options in which Participants’ Accounts are invested in accordance with Article IV. 
 1.37 “IRS” means
the United States Internal Revenue Service. 
 1.38 “Legacy BNY Entity” means the entity that was known, as of June 30,
2007, as The Bank of New York Company, Inc. and its subsidiaries and affiliates, in each case determined as of June 30, 2007. 
 1.39
“Legacy BNY Savings Plan” means The Employee Savings & Investment Plan of The Bank of New York Company, Inc. as amended and restated effective January 1, 2004, and as such plan may be further amended from time to time
thereafter. 

  
 17 

 1.40 “Legacy BNY Securities Group Plan” means The Retirement Savings Plan
of BNY Securities Group, as amended and restated effective January 1, 2006, and as such plan may be further amended from time to time thereafter. 

1.41 “Legacy GIS Entity” means the entity that was known, as of June 30, 2010, as the PNC Global Investment Servicing
(U.S.) Inc. (“GIS”) business of PNC Financial Services Group, Inc. (“PNC”) and its subsidiaries and affiliates, in each case as determined as of June 30, 2010. 

1.42 “Legacy Mellon Entity” means Mellon Financial Corporation and its subsidiaries and affiliates, in each case determined as
of June 30, 2007 and as indicated on Appendix C to the Plan, and shall further include any entity so designated by the proper committee (or officers of the Corporation). 

1.43 “Long Term Disability Plan” means the Long-Term Disability Coverage for All Employees of The Bank of New York Mellon
Corporation or any similar program maintained by a member of the Controlled Group which includes the Corporation. 
 1.44 “Matching
Contributions” means those contributions made by the Employer pursuant to Section 3.3. 
 1.45 “Matching Contributions
Account” means the account established, where necessary under Section 3.3, to reflect that portion of the Trust which is attributable to Matching Contributions made on behalf of such Participant. 

1.46 “Merger Date” means (i) with respect to the portion of the Legacy BNY Savings Plan representing the Account Balances
of Participants other than those not subject to the blackout period beginning on March 25, 2009 and ending on or about April 6, 2009 (the “Blackout Period”), April 1, 2009; and (ii) with respect to the portion of the
Legacy BNY Savings Plan representing the Account Balances of Participants who were not subject to the Blackout Period and whose names are reflected on a list maintained in the records of the Plan Manager, May 5, 2009 or as soon as
administratively practicable thereafter. The Merger Date applicable to the Account Balance of a Participant is referred to hereafter as the “applicable Merger Date” with respect to that Participant. 

1.47 “Non-Highly Compensated Employee” means any employee who does not meet the
definition of Highly Compensated Employee during the Determination Year (as defined in Section 1.32), without regard to the Look-Back Year (as defined in Section 1.32). 

  
 18 

 1.48 “Normal Retirement Age” means attainment of age sixty-five (65). 
 1.49 “Pareto Partners” ”means Pareto Partners New York LLC, EIN: 25-1694680, a controlled subsidiary of MBC Investments Corporation, which, in turn, is a wholly-owned subsidiary of the Corporation. 

1.50 “Pareto Plans Transfer Date” ”means , as the context so requires, November 28, 2014 with respect to amounts
transferred from the Pareto 401(k) Plan and December 1, 2014 with respect to amounts transferred from the Pareto MPP Plan and refers to the date as of which the accounts of: (a) active employees of the Controlled Group: (i) under the
Pareto 401(k) Plan were transferred to this Plan and (ii) under the Pareto MPP Plan which they elected to have transferred to this Plan and (b) terminated / missing employees of the Controlled Group who did not elect to receive a
distribution of their accounts under the Pareto Plans; were transferred to this Plan and became subject to the terms and conditions of this Plan. 

1.51 “Pareto 401(k) Plan” ”means the Pareto Partners 401(k) Plan established by Pareto Partners (PN: 002) for the benefit
of its eligible employees; a non-standardized cash or deferred profit sharing plan as reflected in that certain “cash or deferred” adoption agreement and related prototype defined contribution
retirement plan, Base document 001, serial number Eg4knon10010, amended and restated January 1, 2010, as further amended effective January 1, 2013, and which prototype document was sponsored by Corporate Retirement Services, Inc., 1100
U.S. Highway 22, Suite 6, North Plainfield, NJ, 07060 (908) 222-3601, self-administered by the Corporation and as to which the BAC serves as trustee. The Pareto 401(k) Plan was frozen as of January 1,
2005.     
 1.52 “Pareto MPP Plan” ”means the Pareto Partners Money Purchase Pension Plan
established by Pareto Partners (PN: 001) for the benefit of its eligible employees; a non-standardized money purchase pension plan as reflected in that certain “money purchase pension plan” adoption
agreement and related prototype defined contribution retirement plan, Base document 001, serial number EgMPnon10003, amended and restated January 1, 2010, as further amended effective as of January 1, 2013, and which prototype document was
sponsored by Corporate Retirement Services, Inc., 1100 U.S. Highway 22, Suite 6, North Plainfield, NJ, 07060 (908) 222-3601, self-administered by the Corporation and as to which the BAC serves as trustee. The
Pareto MPP Plan was frozen as of January 1, 2005.     

  
 19 

 1.53 “Participant” means an Employee who begins participation in the Plan
pursuant to Article II or an individual (other than a Beneficiary) who has an Account Balance under the Plan. Except as otherwise expressly provided in the Plan, “Participant” shall also include an Inactive Participant. 

1.54 “Plan” means The Bank of New York Mellon Corporation 401(k) Savings Plan as set forth herein and as may be amended from
time to time hereafter. 
 1.55 “Plan Manager” means the individual or entity appointed to manage the day-to-day administration of the Plan pursuant to Section 8.3(d). 

1.56 “Plan Year” means the consecutive twelve (12) month period beginning on January 1 and ending on
December 31 of each year. 
 1.57 “Prior Employer Spousal Consent Account” ” means that certain Transferred
Amounts subaccount to which a Participant’s Transferred Amounts attributable to amounts accrued under the Russell/Mellon Retirement Plan (which was merged into the Russell/Mellon 401(k) Plan in 2003), the Pareto MPP Plan and any other
transferred amounts – which are subject to the joint and survivor requirements of Code Section 401(a)(11) – are credited. 

1.58 “Prior Plan” means the Legacy BNY Savings Plan, the GIS Plan, the Legacy BNY Securities Group Plan, the Russell/Mellon
Plan, the Pareto 401(k) Plan, the Pareto MPP Plan (which two Pareto Plans may be collectively referred to as the “Pareto Plans”) and any one of the other pension or profit sharing plans which were previously sponsored by an Employer, some
or all of the assets of which were transferred and/or merged with and into this Plan pursuant to a trustee-to-trustee transfer and which are held in separate Transferred
Amounts Accounts established pursuant to Section 3.6. 
 1.59 “Qualified Default Investment Alternative” means an
Investment Fund that meets the requirements of regulation subsection 2550.404c-5(e) issued by the Secretary of Labor. 

1.60 “Qualified Distribution” ”means any payment or distribution of amounts credited to a Participant’s “Roth
Contributions Account (or any In Plan Roth Conversion sub-account): 
 (a) made on or after the date
on which the Participant attains age 59-1⁄2; 

  
 20 

 (b) made to a Beneficiary on or after the death of the Participant or 

(c) attributable to the Participant being Totally and Permanently Disabled; 

provided, however, a payment or distribution shall not be treated as a “Qualified Distribution” – and such payment or
distribution shall not be excluded from gross income pursuant to Code Section 402A(d)(1) – if such payment or distribution is made within the 5-taxable year period beginning with the 1st taxable year for which the Participant made (or, in the case of a Rollover Contribution described in Section 3.8(b), is treated as having made) a Roth Contribution to the Plan (the
“Holding Period”). A “Non-Qualified Distribution” is any payment or distribution of amounts credited to a Participant’s Roth Contributions Account from this Plan –
or from the Participant’s Roth account under another qualified employer trust described in Code Section 402A(e)(1)(A) – that is not a Qualified Distribution. Notwithstanding anything in this Section to the contrary, whether or not a
distribution attributable to any particular In-Plan Roth Conversion described in Section 3.7 and held as a sub-account in the Participant’s Roth Contributions
Account shall be treated as having satisfied the above-described Holding Period shall be separately determined for each such Conversion based on the 1st taxable year in which the Conversion was
made. 
 1.61 “Related and Affiliated Entities” means a business entity related or affiliated to the Corporation which has
been designated by the Board as being eligible to have its employees covered hereunder. 
 1.62 “Retirement Contributions”
means those contributions made by the Employer pursuant to Section 3.9. 
 1.63 “Retirement Contributions Account”
means the account established, where necessary under Section 3.9, to reflect that portion of the Trust which is attributable to Retirement Contributions made on behalf of such Participant. 

1.64 “Rollover Contributions” means amounts rolled over into the Trust on behalf of a Participant pursuant to
Section 3.8. 
 1.65 “Rollover Contributions Account” means the account established, where necessary, under
Section 3.8 on behalf of a Participant to reflect that portion of the Trust which is attributable to such Participant’s Rollover Contributions and such subaccounts as may be necessary to separately account for any Rollover Contributions
from a Roth account under a retirement plan described in Code Section 402A(e)(1)(A) which satisfied the requirements of 

  
 21 

 
Treasury Regulation Section 1.401(k)-1(f) and with respect to which the Plan Manager has received the information regarding the commencement of the 5-taxable year period and the investment in the contract required by Treasury Regulation Section 1.402A-2 (a “Roth Rollover”). Notwithstanding the
forgoing, that portion of a Participant’s Rollover Contributions Account attributable to a Roth Rollover shall be combined with and deemed part of the Participant’s Roth Contributions Account solely for purposes of determining whether or
not any distribution from this Plan constitutes a “Qualified Distribution” and as otherwise required by Code Section 402A and applicable guidance thereunder. 

1.66 “Roth Contributions” ”means those contributions made by an Employer to the Plan on and after April 1, 2014 in
consideration of an Employee agreeing to take an equivalent reduction in Eligible Compensation pursuant to the agreement between the Employer and the Employee evidenced by the Appropriate Form contemplated by the enrollment process described in
Section 3.2(b) which: (a) have been irrevocably designated by the Participant at the time of such enrollment as a Roth Contribution that is being made in lieu of all or a portion of the Contract Contributions that the Participant is
otherwise eligible to make (or deemed to make) under Section 3.2(b) and (b) are treated by the Employer as includible in the Participant’s Eligible Compensation at the time the Participant would have received such amount in cash had
the Participant not made the election to have such amount contributed to the Plan. Roth Contributions shall cease after the termination of a Participant’s agreement to take a reduction in Eligible Compensation equal to the elected Roth
Contributions as evidenced by the Appropriate Form. 
 1.67 “Roth Contributions Account” ”means the account established
under Section 3.2 to reflect that portion of the Trust which is attributable to Roth Contributions made on behalf of such Participant – including In Plan Roth Conversion Amounts, if any, credited to a Participant’s Roth Contributions
Account as a result of a Participant’s election to effectuate an In Plan Roth Conversion pursuant to Section 3.7 – and, to the extent required by Code Section 402A and applicable guidance thereunder for purposes of determining
whether or not any distribution from this Plan constitutes a “Qualified Distribution”, shall be deemed to include Roth Contribution amounts credited to a Participant’s Rollover Contributions Account. 

1.68 “Russell/Mellon Merger Date” ”means January 21, 2014; namely, the date on which the assets and liabilities of
the Russell/Mellon Plan were legally merged with and into to Plan. 

  
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 1.69 “Russell/Mellon Plan” ”means the Russell/Mellon 401(k) Plan as
amended and restated January 1, 2010, as amended by the First (Compliance) Amendment. 
 1.70 “Salaried Employee” means
each common law employee of an Employer compensated on a fixed salary or whose benefits are determined by reference to a fixed benefits base without regard to hours worked. 

1.71 “Securities Group Merger Date” means the later of December 31, 2011 or such later date as the Corporation, in its
sole discretion, may determine as of which the Legacy BNY Securities Group shall be merged with and into the Plan. 
 1.72
“Service” for purposes of determining the nonforfeitability of Matching Contributions and/or Retirement Contributions made with respect to Participants in this Plan, and for any other Plan provision based in whole or in part on a
Participant’s service, means an Employee’s aggregate period(s) of service determined as follows: 
 (a) Service shall begin on the
Employee’s Employment Commencement Date and shall end on the Employee’s Severance from Service Date. If an Employee’s employment is terminated and he is later reemployed within one (1) year of his first day of absence, the period
between his Severance from Service Date and the date of his reemployment shall be included in his period of Service. If the Employee has a Break in Service prior to completing a one (1) year period of Service, any period of Service before the
Break in Service shall be disregarded, except as provided in Section 3.4(c). 
 (b) If an Employee shall have been absent from the
service of the Corporation and each other member of the Controlled Group because of service in the Armed Forces of the United States and such absence would otherwise be a Break in Service, and if he shall have returned to the service of the
Corporation or another member of the Controlled Group having applied to return while his reemployment rights were protected by law, that absence shall not be deemed a Break in Service, and the period of military service prior to reemployment shall
be counted as part of the Employee’s period of Service. 
 (c) A period during which an Employee is on a leave of absence approved by
the Corporation or another member of the Controlled Group shall not be considered as a Break in Service. Furthermore, Service shall include any period of leave of absence during which an Employee is entitled to or in receipt of benefits under the
Long-Term Disability Plan and prior to the date the Employee elects to commence benefits under this Plan. 

  
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 (d) For purposes of determining an employee’s aggregate period of Service, each of the
following periods of service shall be counted toward a person’s period of Service to the extent that it would otherwise be recognized under subsections (a) through (c) with respect to an Employee: 

(i) a period of service as an employee, but not an Employee, of an Employer; 

(ii) a period of service as an employee of a member of the Controlled Group which is not an Employer (but only for periods
during which such entity is a member of the Controlled Group, unless recognition for such service is granted by the Board as part of an acquisition agreement); and 

(iii) in the case of a person who is a Leased Employee immediately before or after a period of Service as an Employee or a
period of service described in (i) or (ii) above, a period during which he has performed services for the Corporation or a member of the Controlled Group as a Leased Employee. 

(e) Definitions. For purposes of determining an Employee’s Service, the following words or phrases shall have the meanings ascribed
to them. 
 (i) “Break in Service” means a period of one (1) year or more which constitutes a break in
an Employee’s period of Service and shall occur upon the completion of a twelve (12) month period beginning on a Severance from Service Date and ending on the day immediately preceding the first anniversary of such Severance from Service
Date during which a former Employee does not complete one (1) Hour of Service; provided, however, that if an Employee’s employment is terminated or if the Employee is otherwise absent from work because of Parental Leave, solely for
purposes of determining whether a one (1) year Break in Service has occurred, the Severance from Service Date will not be deemed to occur until the first anniversary of the date the Severance from Service Date would have otherwise occurred.

 Notwithstanding the foregoing, if a Transferee Participant in a Prior Plan which is merged either in whole or in part into
this Plan is absent from employment due to maternity/paternity reasons as defined in such Prior Plan, the determination of whether such Transferee Participant has incurred a Break in Service under this Plan shall be made in accordance with the terms
and conditions in effect in said Prior Plan on the date such Transferee Participant first commenced the absence from work due to said maternity/paternity reasons. 

  
 24 

 (ii) “Leased Employee” shall mean any person so defined in
Code Section 414(n), as defined in Section 1.24, providing services to an Employer. 
 (iii) “Parental
Leave” means a period in which the Employee is absent from work due solely to and immediately following his or her active employment because of the Employee’s pregnancy, the birth of the Employee’s child or the placement of a
child with the Employee in connection with the adoption of that child by the Employee, or for purposes of caring for that child for a period beginning immediately following that birth or placement. 

(iv) “Severance from Service Date” shall mean the earlier of: (A) the date on which an Employee quits,
retires, is discharged, or dies, or (B) the first anniversary of the first day of a period in which an Employee remains absent from active employment (with or without pay) including, but not limited to, layoff, leave of absence, or absence due
to illness. 
 (v) “Year of Service” shall mean a twelve (12) month period of Service. 

(f) Notwithstanding the foregoing provisions of this Section 1.73, Service shall include any period that is not counted under the
foregoing subsections and for which the Employee received payments under the Mellon Financial Corporation Displacement Program as in effect prior to May 24, 2010 covering certain employees of the Legacy Mellon Entities, but such Service shall
not include any period after the Employee’s Benefit Commencement Date. 
 1.73 “Self-Directed Account” means an
account, as designed by the BIC, in which the Participant may direct the purchase of mutual funds, exchange-traded funds and/or other investments through a trustee or custodian acting as trustee for purposes of directing investments, or in which the
Participant may appoint an investment manager to direct the investment of the Participant’s Account. Separate accounts or subaccounts must be established to separately account for the self-direction of amounts attributable to a
Participant’s Roth Contributions (including any Roth Conversion Amounts) and/or Roth Rollover Contributions Account(s) and amounts attributable to all of a Participants other Accounts. 

  
 25 

 1.74 “Spousal Consent” means the written consent required to be given by a
Participant’s Spouse in order for the Participant to elect a non-spouse Beneficiary. Such written consent must contain: (a) the consent of the Spouse to such designation, (b) the Spouse’s
acknowledgment of the effect of such designation (i.e., loss of benefit), (c) a specific acknowledgment by the Spouse of the identity of the non-spouse Beneficiary, and (d) the notarized signature of
the Spouse. Notwithstanding the preceding sentence, a Spouse’s consent shall not be required if it is established to the satisfaction of the BAC that such consent cannot be obtained because there is no Spouse, because the Spouse cannot be
located, or because of such other circumstances as may be recognized under applicable law. The Participant may revoke any previous Beneficiary designation naming a Beneficiary other than his Spouse at any time prior to the Participant’s death
or commencement of benefits hereunder, and his Spouse again shall be deemed to be his designated Beneficiary unless the Participant obtains such Spouse’s consent to name a new Beneficiary and follows the above rules. 

A Spouse’s consent applies only to the signatory Spouse and shall bind no other Spouse. In the event the Participant has a new Spouse
after consent was obtained from a prior spouse, the new Spouse will be deemed to be the Beneficiary unless the new Spouse consents to a different Beneficiary in accordance with the procedure which is set forth in the preceding paragraph. Any
designation by a non-married Participant made prior to his legal marriage shall be automatically voided upon his subsequent marriage and the new Spouse will be the Beneficiary unless the new Spouse consents in
writing to the designation of a non-spouse Beneficiary in accordance with the procedures set forth in this Section. 

1.75 “Spouse” shall mean, effective on and after June 26, 2013, the individual lawfully married to the Participant under
state law and the terms “spouse”, “husband and wife,” “husband” and “wife” include an individual married to a person of the same sex if the individuals are lawfully married under state law. 

1.76 “Total and Permanent Disability” means any condition which renders a Participant to be considered disabled under the
terms of the Long-Term Disability Plan or any similar program maintained by an Employer. 
 1.77 “Transferee Participant”
means Participants in this Plan who were participants in a Prior Plan and whose account balances (less amounts, if any, attributable to employee or employer contributions which the BIC, in its sole discretion, determines not to accept), were
transferred and/or merged with and into this Plan in a trustee-to-trustee transfer. 

  
 26 

 1.78 “Transferred Amounts” means account balances of a Transferee
Participant under a Prior Plan, which were transferred and/or merged with and into this Plan in a trustee-to-trustee transfer pursuant to Section 3.6. 

1.79 “Transferred Amounts Account” means the account established, where necessary, under Section 3.6 for a Transferee
Participant, to reflect that portion of the Trust which is attributable to such Participant’s interest in the Transferred Amounts. 

1.80 “Triggering Event” means the Participant’s retirement, death, Total and Permanent Disability, or other severance
from employment from all members of the Controlled Group. An individual whose employment status changes from an employee to a “leased employee” as defined in Section 1.24 does not incur a severance from employment where the individual
continues to provide services for any member of the Controlled Group, unless such leased employees constitute less than twenty percent (20%) of the Employer’s nonhighly compensated work force within the meaning of Code
Section 414(n)(5)(C)(ii) and the leased employees are covered by a plan described in Code Section 414(n)(5)(B). 
 1.81
“Trust” means the trust established as part of this Plan to hold the assets of the Plan, which Trust is governed by the Trust Agreement. 

1.82 “Trust Agreement” means that certain Master Trust Agreement by and among the Corporation, the BIC and the BAC, each a
Named Fiduciary and The Bank of New York Mellon and known as “The Bank of New York Mellon Corporation Retirement Plans Master Trust” (or such other successor agreement or agreements of trust and/or custodial agreements established as part
of this Plan) and any amendments or supplements thereto, under which the assets of the Plan are held. Such agreement or agreements shall form a part of this Plan with like effect as if inserted herein. 

1.83 “Trustee” means The Bank of New York Mellon or any other bank, individual, firm, or corporation having fiduciary powers
which may be hereinafter appointed to act as trustee or custodian of the Plan’s assets and who becomes subject to the terms of the Trust Agreement. 

1.84 “Valuation Date” means each calendar day on which the New York Stock Exchange is open to execute purchases or sales of
securities as of the close of business on that day, or such other dates as from time to time may be established by the BAC; provided, however, that for purposes of preparing account statements for Participants and for fulfilling any reporting
requirements imposed by the IRS or any other person, “valuation date” shall mean the last day of the Plan Year and such other dates as from time to time may be established by the BAC. 

  
 27 

 ARTICLE II 

PARTICIPATION 

2.1. Eligibility for Participation. 

(a) As of the Effective Date. Each Employee who was a Participant on the day before the Effective Date shall remain a Participant on and
after the Effective Date (subject to Section 2.2), until such participation terminates in accordance with the terms of the Plan. 
 (b)
After the Effective Date. Each Employee who was not a Participant on the Effective Date shall become a Participant on the Entry Date following his enrollment (or deemed enrollment) pursuant to Section 3.2(b), provided he is then an
Employee. Each other employee shall be eligible to participate in the Plan on the date he becomes an Employee, and shall become a Participant on the Entry Date following his enrollment (or deemed enrollment) pursuant to Section 3.2(b), provided
he is then an Employee. 
 (c) Rehired Employees. Any former Employee who is rehired shall be eligible to participate in the Plan on
the later of (1) his date of rehire or (2) the date he becomes an Employee, and shall become a Participant in the Plan on the Entry Date following his enrollment (or deemed enrollment) pursuant to Section 3.2(b), provided he is then
an Employee. 
 2.2. Termination of Active Participation. Upon the occurrence of a Break in Service or ceasing to be an employee
within the definition of “Employee”, a Participant shall become an Inactive Participant except as otherwise expressly provided herein. 

  
 28 

 ARTICLE III 

CONTRIBUTIONS AND VESTING 

3.1 Employer Contributions. Within the time prescribed by law for obtaining a federal income tax deduction with respect to the Plan
Year for which the contribution is applicable, each Employer shall contribute the Matching Contributions and Retirement Contributions hereinafter described. Notwithstanding the preceding sentence, the aggregate of all amounts contributed by an
Employer pursuant to this Article III shall not exceed the maximum amount that would be allowed as a deduction by the particular contributing Employer for federal income tax purposes for the Plan Year for which such deduction is taken. The
nonforfeitability of such contributions shall be determined in accordance with Section 3.4. 
 3.2 Employee Contributions. At
such time as may be specified in the enrollment process of a Participant, but no later than the earlier of the time required by law for making such contributions or the time prescribed by law for obtaining a federal income tax deduction for the Plan
Year for which the deduction is taken, each Employer shall contribute, subject to Sections 3.1 and 3.5, to the Participant’s Contract Contributions Account, Roth Contributions Account and/or After-Tax
Contributions Account, as applicable, Contract, Roth and/or After-Tax Contributions in the amount determined hereafter: 

(a) Amount. Subject to the limitations contained herein and set forth in Article XI, each Employee, upon becoming eligible to
participate, may complete (or be deemed to complete) an Appropriate Form (pursuant to subsection (b)) which obligates his Employer to make the contributions described in (i), (ii) and/or (iii) as applicable: 

(i) Contract Contributions in any whole percentage from one percent (1%) to seventy-five percent (75%),
inclusive, of his Eligible Compensation for the applicable pay period; 
 (ii) Roth Contributions in any whole percentage from one percent
(1%) to seventy five percent (75%), inclusive, of his Eligible Compensation for the applicable pay period, and/or 
 (iii) After-Tax Contributions in any whole percentage from one percent (1%) to seventy-five percent (75%), inclusive, of his Eligible Compensation for the applicable pay period, not to exceed sixteen thousand dollars
($16,000) for the 2021 Plan Year or such other amount as may be determined after 2021 in the BAC’s sole discretion; 

  
 29 

 provided however, that the amount of deemed Contract Contributions, if applicable, shall equal an amount
equal to the applicable percentage determined under section 3.2(b)(ii) or 3.2(c)(ii), as applicable, multiplied by the Employee’s Eligible Compensation for the applicable pay period; provided, further, that the combined total dollar amount
represented by the selected percentages of Contract Contributions and Roth Contributions for the Plan Year shall not exceed the dollar limit in effect from time to time under Code Section 402(g) ($19,500 for 2021); and provided, further, that
the total of the selected percentages of the Contract Contributions, Roth Contributions and After-Tax Contributions shall not exceed seventy-five percent (75%) of the Employee’s Eligible Compensation. If
the Participant is within the class of Highly Compensated Employees, such elected (or deemed elected) percentages of Contract, Roth and After-Tax Contributions shall not exceed the limits provided in
Article XI. For those employees in the same job classification whose Eligible Compensation is determined by the control point for the applicable salary grade of such job classification (as provided under Section 1.23), no amount shall be
deferred under this Section 3.2 (and a Matching Contribution shall not apply), during a payroll period in which such employee’s actual compensation is less than the amount of the Employee Contributions to be made for the payroll period
under this Section 3.2. 
 (b) Enrollment. The enrollment process shall be accomplished in accordance with (i), (ii) or (iii), as
applicable: 
 (i) Active Enrollment. An employee, upon becoming an Employee and subject to the limits described in (a), may, by use
of an Appropriate Form provided by or acceptable to the BAC, affirmatively elect to become a Participant by agreeing to: 
 (1) have
his Eligible Compensation reduced each pay period by a specified percentage in consideration of his Employer making Contract Contributions of an equivalent amount, 

(2) have his Eligible Compensation reduced each pay period by a specified percentage in consideration of his Employer making Roth
Contributions of an equivalent amount, and/or 

  
 30 

 (3) have After-Tax Contributions of a specified
percentage taken in the form of after-tax payroll deductions from his Eligible Compensation each pay period. 

Enrollment will be effective as of the next Entry Date (or such other date as may be established by the BAC) after the Employee has completed
the enrollment process and the Participant’s elections will remain in effect until subsequently changed or discontinued. At the time of completing the enrollment process, the Participant shall also elect the method and mode of investment
pursuant to Article IV by an Appropriate Form for that purpose. 
 (ii) Automatic Enrollment. Each employee
automatically enrolled in the Plan in accordance with the terms of the Plan as in effect prior to the Effective Date shall continue to be automatically enrolled in the Plan on and after the Effective Date. Each such employee, together with the
employees automatically enrolled in accordance with the following provisions of this paragraph 3.2(b)(ii) as in effect on and after the Effective Date, shall be referred to as an “Auto Enrolled Participant”. 

Newly Hired Employees. Each employee – other than those who are receiving benefits under the Long Term Disability
Plan, paid through a non-US payroll or whose remuneration, as determined in the sole discretion of the BAC, is otherwise not received from an Employer through a payroll system integrated with the Plan –
whose Employment Commencement Date occurs on and after the Effective Date, upon becoming an Employee, shall be provided with notice on an Appropriate Form (the “Auto Enrollment Notice”) advising such Employee: (1) that in the
event he fails to affirmatively enroll in accordance with paragraph (i) then such Employee shall be automatically enrolled effective as of the date (the “Auto Enrollment Date”) which is the Entry Date occurring thirty
(30) days or more after his receipt of such Auto Enrollment Notice and shall be deemed to have elected to have his Eligible Compensation reduced by seven percent (7%) in consideration of his Employer making Contract Contributions of an
equivalent amount; (2) that in lieu of such deemed seven percent (7%) election he has the right to elect any other level of Contract Contributions (or to elect Roth and/or After-Tax Contributions)
permitted by the Plan or to have no Contract Contributions (nor any Roth and/or After-Tax Contributions) made on his behalf, (3) that, unless the Employee affirmatively makes an election described in (2),
such seven percent (7%) Contract Contribution will be increased in accordance with Section 3.2(c)(ii) and (4) that such deemed Contract Contributions will be invested in the Qualified Default Investment Option specified by the BIC. 

  
 31 

 Such Auto Enrollment Notice may be combined with the ERISA
Section 404(c)(5) Qualified Default Investment Option notices and shall be provided as soon as administratively possible following the date the employee first becomes an Employee eligible to participate in the Plan (but shall generally be
provided at least thirty (30) but not more than ninety (90) days before the Employee first becomes eligible to participate in the Plan) and shall thereafter be provided at least thirty (30) days, but not more than ninety
(90) days, before the beginning of each subsequent Plan Year. The Contract Contributions required by such automatic enrollment will commence effective as of the Participant’s Auto Enrollment Date (or such other date as may be established
by the BAC), shall not be considered Roth Contributions and the Participant’s deemed elections will remain in effect until subsequently changed or discontinued as hereinafter provided. 

(iii) Deemed Enrollment Applicable to Employees who are Eligible to Receive Retirement Contributions. Any Employee who
is not a Participant in the Plan, including, by way of clarification and not limitation, Employees who have affirmatively elected not to enroll in accordance with Section 3.2(b)(ii), shall be deemed to have enrolled effective as of the last day
of the Plan Year that he is first eligible to receive Retirement Contributions, as defined under Section 3.9 and to have directed that such contributions be invested in the Qualified Default Investment Option then provided under the Plan. 

(iv) Automatic Enrollment Applicable to Former Employees who are Rehired. Any former Employee who later is rehired by an
Employer on or after the Effective Date and without regard to whether such former Employee has incurred a Break in Service within the meaning of Section 1.72(e) and who does not actively enroll in accordance with Section 3.2(b)(i) shall be
automatically enrolled in accordance with the applicable procedures described in Section 3.2(b)(ii). 

  
 32 

 (c) Change in Employee Contributions. A Participant who has been actively or
automatically enrolled as a Participant in accordance with subsection 3.2(b) may change (or be deemed to have changed) and/or discontinue the specified (or deemed specified) percentage of Contract, Roth and/or
After-Tax Contributions resulting from such enrollment (or deemed enrollment) effective as of a future Entry Date in accordance with (i) or (ii), as applicable: 

(i) Active Changes. Such a Participant may affirmatively change and/or discontinue the specified (or deemed specified) percentage of
Contract, Roth and/or After-Tax Contributions being made on his or her behalf by submitting an Appropriate Form indicating the change with the BAC. Such change shall be prospective only and must be submitted
before the Entry Date (or such other date as may be established by the BAC) for which such change is to be effective. 
 (ii) Automatic
Increases. All Participants who are active Employees and were automatically enrolled in accordance with Section 3.2(b)(ii), whose combined percentage of pre-tax Contract Contributions, Roth
Contributions and After-Tax Contributions (“Combined Percentage”) is at least one percent (1%) but less than ten percent (10%) shall have the percentage of
pre-tax Contract Contributions or Roth Contributions being made on their behalf increased on July 1 by an additional one percent (1%); provided, however, that such increase shall not be made in the Plan
Year in which such employee first became such an Employee. . 
 Such contribution percentage increase on the Participant’s Combined
Percentage shall be applied to the Participant’s then current pre-tax Contract Contribution percentage, however, if the Participant is not contributing pre-tax
Contract Contributions on the June 30 prior to a scheduled July 1 increase, but is, as of such June 30, contributing Roth Contributions, the contribution percentage increase shall be applied to the Participant’s Roth Contribution
percentage. Notwithstanding the preceding sentence, if, on the June 30 prior to a scheduled July 1 increase, a Participant is either: (A) only contributing After-Tax Contributions to the Plan or
(B) whose annualized Combined Percentage, if increased, would cause such Participant’s contributions to the Plan to exceed the limits imposed by Section 3.2(a), Section 3.2(b) or Article XI for that Plan Year, then the scheduled
increase shall not be applied and no future scheduled increase will be applied. 

  
 33 

 Such contribution percentage increases shall continue for each eligible Participant
described in this Section 3.2(c)(ii) until the earlier of the date: (a) the Combined Percentage being made on the Participant’s behalf is at least equal to ten percent (10%) or (b) after receiving the Auto Escalation Notice
described in subsection (iii) of this Section 3.2(c), the Participant affirmatively elects to increase, decrease or terminate such pre-tax Contract Contributions, Roth Contributions, or After-Tax Contributions made on his or her behalf or affirmatively declines the automatic contribution increases described in this Section. The increase in such percentage of
pre-tax Contract Contributions or Roth Contributions will be effective beginning with the Entry Date that occurs on or after such July 1st date and all such
contributions shall be invested in accordance with the Participant’s then current election or, if no such election is on file with the BAC, in the Qualified Default Investment Option specified by the BIC. 

(iii) Notice of Elections Under Automatic Increase Provisions. An “Auto Escalation Notice” shall be
provided to all Participants who are active Employees subject to the automatic contribution escalation provisions of Section 3.2(c)(ii); which notice may be combined with and made a part of the Auto Enrollment Notice. Such Auto Escalation
Notice will advise such Participants: (1) that in the event he/she fails to affirmatively increase, decrease or terminate the percentage of pre-tax Contract, Roth, or
After-Tax Contributions being made on his or her behalf or fails to affirmatively decline to participate in such automatic contribution increase, the Combined Percentage of contributions being made on the
Participant’s behalf will be increased in accordance with Section 3.2(c)(ii); (2) that such Participant has the right to elect not to have his or her percentage (or Default Percentage) of pre-tax
Contract or Roth Contributions so increased and to elect a lesser or greater percentage contribution, cease making any pre-tax Contract, Roth, or After-Tax Contributions
or to affirmatively decline to participate in such automatic contribution increase; (3) that any such election to increase, decrease or terminate the percentage of pre-tax Contract, Roth, or After-Tax Contributions being made on his or her behalf or to affirmatively decline to participate in such automatic contribution increase will cause the automatic contribution increase provisions to cease to apply
to the Participant as soon as administratively feasible after the Plan’s receipt of the Participants affirmative election; and (4) that in the event the Participant has not otherwise directed the Trustee as to the manner in which his
Accounts are to be invested, any such increased percentage of pre-tax Contract Contributions or Roth Contributions will be invested in the Qualified Default Investment Option specified by the
BIC.     

  
 34 

 Notwithstanding the foregoing, unless a Participant elects otherwise, an active or automatic change in the
specified percentage of Contract, Roth and/or After-Tax Contributions to be made on behalf of the Participant shall not affect the Participant’s elections as to the options in which such Contributions are
invested. 
 (d) Involuntary Suspension of Employee Contributions. No Employee Contributions shall be made on behalf of a Participant
who is an Inactive Participant or who is not receiving any Eligible Compensation from his Employer, is on an unpaid leave of absence, is receiving displacement or severance payments for periods following his “severance from
employment” within the meaning of Treasury Regulation section 1.401(k)-1(e)(8) and any successor regulation, or is receiving long-term disability payments under the Long Term Disability Plan. 

(e) Completion of a New Enrollment Process. A Participant whose Contract, Roth and After-Tax
Contributions have been suspended must complete a new enrollment process in accordance with the provisions of Section 3.2(b)(i) (applicable to active enrollments) in order to have Employee Contributions again made on his behalf. 

(f) Make-Up Contributions For Periods of Military Service. Notwithstanding anything to
the contrary in this Article III or elsewhere in the Plan, a Participant who returns to the employment of an Employer following a military leave of absence shall be permitted to make additional
“make-up” Employee Contributions for the period of such military service (and receive any corresponding Matching Contributions and/or Retirement Contributions for such period) as if the Participant
had been in the employment of the Employer during such period of military service, to the extent required by and in accordance with Code Section 414(u) or other applicable law. 

(g) Catch-Up Contributions. Notwithstanding any contrary Plan provision, each Participant
who has attained age fifty (50) before the close of a Plan Year shall be eligible to make additional Contract Contributions (including Roth Contributions), which shall be referred to as “Catch-Up
Contributions”, in accordance with, and subject to the limitations of, Code Section 414(v). Such “Catch-Up Contributions” shall not exceed $6,500, as adjusted annually, if necessary, for
years after 2021 in accordance with Code Section 414(v)(2)(C). Under 

  
 35 

 
non-discriminatory rules consistently applied, Contract Contributions (including Roth Contributions) which, but for this Section 3.2(g), would
otherwise exceed the limits of this Article III or Article XI shall automatically be treated as such “Catch-up Contributions.” Such Catch-Up
Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan
implementing the requirements of Code Section 401(a)(4), 401(k)(3), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. 

3.3 Employer Matching Contributions. 

(a) Amount. Each Employer shall contribute, subject to Section 3.1 each payroll period, an amount equal to: (i) one hundred
percent (100%) of the Employee Contributions made on behalf of each Participant, up to seven percent (7%) of each Participant’s Eligible Compensation for the pay period to a maximum dollar amount of $16,000 per Plan Year (the “Matching
Contributions”). Matching Contributions by the Employer shall neither be made with respect to a Participant’s Eligible Compensation in excess of seven percent (7%) (to a maximum dollar amount of $16,000 per Plan Year) for such payroll
period, nor exceed seven percent (7%) of a Participant’s Eligible Compensation for such payroll period (to a maximum dollar amount of $16,000 per Plan Year). If at any time Employee Contributions of a Participant cease in order to comply with
any compensation or contribution limitations imposed by law, Matching Contributions made with respect to such Employee Contributions shall also cease. Matching Contributions made with respect to Employee Contributions of Highly Compensated Employees
which are subsequently required to be distributed to the affected Highly Compensated Employees in accordance with Article XI shall be forfeited, together with any income or loss attributable to such Matching Contributions made with respect to such
Employee Contributions, and used to reduce Employer contributions. 
 (b) Year-End Matching
(“True Up”) Contributions. Subject to Section 3.1, the amount of Matching Contributions to be made with respect to individual Participants is determined each payroll period and, as such, may be limited by the application of the
limits described in subsection (a). Accordingly, if, as a result of the Participant’s enrolling after the earliest Entry Date following his becoming eligible to participate in the Plan and/or due to changes in a Participant’s elections
during the Plan Year, the Participant has not received Matching Contributions for such Plan Year equal to one hundred percent (100%) of the Participant’s Employee Contributions up to seven percent (7%) to a maximum dollar amount of $16,000 of a
Participant’s Eligible Compensation earned after the Participant’s becoming 

  
 36 

 
eligible to enroll in the Plan, then an additional Matching Contribution (the “True Up Contribution”) shall be made as of the end of the Plan Year in an amount equal to one
hundred percent (100%) of the Participant’s Employee Contributions up to seven percent (7%) of a Participant’s Eligible Compensation for such Plan Year earned after the Participant’s becoming eligible to enroll in the Plan, to a
maximum dollar amount of $16,000, reduced by the sum of all monthly Matching Contributions made on behalf of the Participant on a payroll basis with respect to the same Plan Year. True Up Contributions by the Employer shall neither be made with
respect to a Participant’s Eligible Compensation in excess of seven percent (7%) for the Plan Year earned after becoming eligible to enroll in the Plan (to a maximum dollar amount of $16,000) nor exceed seven percent (7%) of such Eligible
Compensation (to a maximum dollar amount of $16,000) . True Up Contributions made with respect to Employee Contributions of Highly Compensated Employees which are subsequently required to be distributed to the affected Highly Compensated Employees
in accordance with Article XI shall be forfeited, together with any income or loss attributable to such True Up Contributions made with respect to such Employee Contributions, and used to reduce Employer contributions 

3.4 Participant’s Account; Vesting. 

(a) In general. All contributions made pursuant to this Article III applicable to a Participant shall be credited when made (or as
soon as administratively possible thereafter) to that Participant’s Account and invested in accordance with Article IV. A Participant shall be immediately vested in all Employee Contributions credited to his Account when made. Amounts
credited to a Transferee Participant’s Transferred Amounts Account shall be fully vested in accordance with Section 3.6(b). The right of each Participant to any Matching and/or Retirement Contributions credited to his Account shall become
vested as follows: 
 (b) Matching Contributions. A Participant’s interest in his Matching Contributions Account shall vest in
accordance with the following provisions: 
 (i) Amounts credited to the Matching Contributions Account of a Participant with an initial
date of hire prior to January 1, 2001 shall be fully vested at all times. 
 (ii) Amounts credited to the Matching Contributions
Account of a Participant with an initial date of hire on or after January 1, 2001 that relate to a period of employment with the Corporation on or after January 1, 2001, but prior to January 1, 2009 and which relate to Matching
Contributions made to this Plan (and without regard to any such contributions made under a Prior Plan which were transferred to this Plan), shall fully vest upon the Participant’s completion of three (3) Years of Service (as defined in
Section 1.72(e)(v)); provided, however, that such Participant shall become fully vested with respect to such amounts in his Matching Contributions Account if, while an employee, he attains Normal Retirement Age, incurs a Total and Permanent
Disability, or dies. 

  
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 (iii) Amounts credited to a Participant’s Matching Contributions Account that
relate to periods of employment with the Corporation on or after January 1, 2009 and through and including December 31, 2020 shall be fully vested at all times. 

(iv) Amounts credited to a Participant’s Matching Contributions Account of a Participant with an initial hire date on or prior to
December 31, 2020 that relate to periods of employment with the Corporation on or after January 1, 2021 shall be fully vested at all times. Notwithstanding the foregoing, such a Participant who incurs five (5) consecutive one year
Breaks in Service and is rehired on or after January 1, 2021, shall be fully vested with respect to such amounts in his Matching Contributions Account upon the completion of three (3) Years of Service. 

(v) Amounts credited to the Matching Contributions Account of a Participant with an initial date of hire on or after January 1, 2021 that
relate to a period of employment with the Corporation on or after January 1, 2021 and which relate to Matching Contributions made to this Plan (and without regard to any such contributions made under a Prior Plan which were transferred to this
Plan), shall fully vest upon the Participant’s completion of three (3) Years of Service (as defined in Section 1.72(e)(v)); provided, however, that such Participant shall become fully vested with respect to such amounts in his
Matching Contributions Account if, while an employee, he attains Normal Retirement Age, incurs a Total and Permanent Disability, or dies. 

(c) Retirement Contributions. A Participant’s interest in amounts credited to the Retirement Contributions Account shall fully
vest upon the Participant’s completion of three (3) Years of Service (as defined in Section 1.72(e)(v)); provided, however, that such Participant shall become fully vested with respect to such amounts in his Retirement Contributions
Account if, while an employee, he attains Normal Retirement Age, incurs a Total and Permanent Disability, or dies. 
 (d) For purposes of
determining Years of Service under subsections (b) and (c), if a Participant who is not vested in his Matching Contributions Account and/or Retirement Contributions Account incurs a Break in Service and he is later reemployed as an employee,
the Service to which he was entitled before the Break in Service shall be restored to him effective as of his Employment Commencement Date. 

  
 38 

 (e) If a Participant, who is not vested in his Matching Contributions Account and/or
Retirement Contributions Account terminates employment with all members of the Controlled Group, his Matching Contributions Account and/or Retirement Contributions Account shall be forfeited as of the Valuation Date which coincides with or next
follows the date on which the Participant (i) incurs five (5) consecutive one (1) year Breaks in Service (as defined in Section 1.72(e)(i)), or (ii) if earlier, receives a distribution of the entire vested portion of his
Accrued Benefit. Any such forfeiture shall be transferred to a suspense account and used to reduce Employer contributions. 
 If, after the
Participant’s termination of employment from all members of the Controlled Group, the Participant receives a distribution of the entire vested portion of his Accrued Benefit and he is later reemployed prior to incurring five
(5) consecutive one (1) year Breaks in Service, any forfeited amount of his Matching Contributions Account and/or Retirement Contributions Account shall be restored by an Employer contribution. 

3.5 Diversion of Plan Assets; Mistaken Contributions. The Plan and the Trust are established and administered for the exclusive benefit
of the Participants and their Beneficiaries so that, except for payment of Plan expenses as provided in Section 12.8, in no event shall any part of the Plan’s assets be owned by, paid to, or revert to an Employer; provided, however, that
all contributions to the Plan are conditioned upon their deductibility under the Code, and that in the event any contribution, or any portion thereof, is based upon a mistake of fact or is found to be nondeductible for federal income tax purposes,
such contribution, or the portion thereof (except as to Employee Contributions), shall be returned to the contributing Employer. Such return shall be made within one (1) year of the making of the mistaken contribution or disallowance of the
deduction (or within such other period of time as shall be permitted by applicable law so long as the qualified status of the Plan is not adversely affected thereby). 

3.6 Transferred Amounts. 

(a) Any account balances of a Transferee Participant which were transferred and/or merged with and into the Trust underlying this Plan in a
direct trustee-to-trustee transfer shall become an asset of the Trust. All such transferred amounts shall be referred to as the “Transferred Amounts”, and
shall be credited to a recordkeeping account at the end of the 

  
 39 

 
conversion period relating to such transfer, along with appropriate proportional gains and losses earned under the Plan on assets during such conversion period, but thereafter, unless necessary
to comply with Code Section 411(d)(6) (relating to the protection of accrued benefits and forms of distribution) or Code Section 402A(b)(2) (requiring separate accounting for Roth Contributions), the Transferred Amounts shall be credited
to the Transferee Participant’s Contract Contributions Account, Roth Contributions Account, After-Tax Contributions Account, Matching Contributions Account, Rollover Contributions Account and/or
Retirement Contributions Account, as applicable, and no further separate accounting shall be required to be made of such Transferred Amounts. 

(b) If necessary to comply with Code Section 411(d)(6), a separate account (the “Transferred Amounts Account”) shall be
established by the BAC on behalf of each such Transferee Participant, and shall be invested in the same Investment Fund(s) and in the same percentage(s) as the Employee Contributions made on behalf of the Transferee Participant (subject to the
provisions of Section 4.3(a) regarding the initial investment of certain Transferred Amounts). Except as otherwise provided in an Appendix to the Plan, a Transferee Participant’s interest in his Transferred Amounts Account shall be non-forfeitable at all times and shall not be part of his Accrued Benefit. A Transferee Participant’s Transferred Amounts Account shall be subject to any restrictions or provisions of law applicable to such
Transferred Amounts, and such restrictions and provisions shall supersede any contrary terms and conditions herein. 
 3.7 In-Plan Roth Conversions . 
 (a) In General. A Participant may elect, in accordance with
procedures established by the Plan Administrator, to transfer all or a portion of his After-Tax Contributions Account, Contract Contributions Account, Matching Contributions Account, Rollover Contributions
Account (other than any Roth sub-account), Transferred Amounts Account (excluding any Prior Employer Spousal Consent subaccount credited to such Transferred Amounts Account) and Retirement Contributions
Account whether or not such amounts are otherwise distributable under the terms of the Plan, to a sub-account under the Participant’s Roth Contributions Account as an
“In-Plan Roth Conversion.” The transferred amounts shall remain subject to any distribution restrictions generally applicable under this Plan to the Account or subaccount from which the funds were
converted, except as otherwise provided in this Section 3.7 or IRC § 402A(c)(4)(E) or guidance thereunder. An In-Plan Roth Conversion is not a distribution from the Plan, but will be taxable to the
Member as provided in under Section 3.7(c). 

  
 40 

 (b) Spousal Beneficiaries and Alternate Payees. An
In-Plan Roth Conversion may be elected by a Beneficiary who is the Participant’s surviving Spouse or a former Spouse who is an alternate payee under a QDRO. A
non-Spouse Beneficiary may not elect an In-Plan Roth Conversion, unless otherwise expressly permitted by guidance issued under IRC §402A. 

(c) Taxation of Conversion. The taxable amount of an In-Plan Roth Conversion (the fair market
value of the amount converted, reduced by any basis the Participant has in the amount converted) will be included in the Participant’s (or, as applicable, the Spouse’s or alternate payee’s) gross income in the year of the In-Plan Roth Conversion. No withholding under IRC § 3405(c) is required or permitted in connection with an In-Plan Roth Conversion.
In-Plan Roth Conversions are not subject to the ten percent (10%) additional tax on early distributions; however, a Participant (or, as applicable, a Spouse or alternate payee) who receives a distribution of
the amounts attributable to any In Plan Roth Conversion within the five (5)-year period that begins January 1 of the Plan Year in which the particular In-Plan Roth Conversion occurs may become subject to
the 10% early distribution tax. For purposes of the preceding sentence, a new five (5)-year holding period applies to each successive In-Plan Roth Conversion. 

(d) Frequency, Accounting and Other Limitations.    A Participant may elect no more than one (1) In-Plan Roth Conversion in any Plan Year. Each In-Plan Roth Conversion shall be separately maintained within the Roth Contributions Account and may be subdivided into
subaccounts by year of conversion or other classification. The Plan Administrator or its delegate shall maintain records sufficient to apply the terms of this Section 3.7. This Section shall be construed and administered in accordance with IRC
§ 402A and related guidance. In-Plan Roth Conversions may not be reversed or recharacterized once completed. The Plan Administrator may adopt uniformly applicable policies for administering the In-Plan Roth Conversion and may revise such rules from time to time to comply with ERISA, the Code, and applicable regulations thereunder. 

3.8 Rollover Contributions. The BAC may, by uniform rules consistently applied, authorize and permit a Participant or an Employee (or,
an Inactive Participant who is a former employee, but only with respect to a rollover from a retirement plan maintained by a member of the Controlled Group) (collectively, an “Eligible Person”) who has made a request to the BAC to
have transferred to the Trustee the amounts described in (a) and/or (b). 

  
 41 

 (a) Rollovers of taxable distributions from other Eligible Retirement Plans. All cash
amounts which, but for the contemplated rollover, would be includable in gross income (i.e., amounts other than designated Roth Contributions described in Code Section 402A and other after-tax
contributions) that the Eligible Person is entitled to receive under: 
 (i) a qualified employee trust maintained pursuant to Code
Section 401(a) or 403(a) which is exempt from tax under Code Section 501(a); 
 (ii) an individual retirement account or individual
retirement annuity maintained pursuant to Code Section 408; 
 (iii) an annuity contract described in Code Section 403(b); or 

(iv) an eligible plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or
instrumentality of a state or political subdivision of a state. 
 Such transfers may be made directly from an entity described in paragraphs (i), (ii),
(iii) or (iv), above, or by a transfer from the Eligible Person. If the transfer is made by the Eligible Person, the transfer must be made within sixty (60) days of the receipt of the property by the Eligible Person, unless the sixty
(60) day time limit is waived by the Secretary of the Treasury under Code Section 402(c)(3)(B). 
 (b) Direct Rollovers of Roth
contributions and earnings from Roth Accounts under other 401(k) Plans. All cash amounts (including Roth Contributions not includable in gross income) that the Eligible Person is entitled to receive from a designated Roth account described in
Code Section 402A(b)(2) under a qualified employee trust described in Code Section 402A(e)(1)(A) and which have been received in a “direct rollover” from such other plan; provided that the Plan Manager has received: either a
statement that the distribution is a Qualified Distribution or the information required by Treasury Regulation Section 1.402A-2 to enable the Plan Manager to determine the commencement of the 5-taxable year period and the investment in the contract of such amounts as now held by the Plan. In order to qualify for such transfer, the cash amounts to be transferred must be made directly from the
above-described qualified employee trust (i.e., the Plan cannot accept an “indirect” (i.e., 60 day) rollover of non-taxable Roth contributions included in a distribution made directly to the Eligible
Person). 
 (c) Rules applicable to all Rollover Contributions. Notwithstanding anything in this Section to the contrary, no amount
described in (a) and (b) may be accepted unless it represents an “eligible rollover distribution” within the meaning of Code Section 402(c)(4) and would not require the Plan to preserve an optional form of distribution or other
benefit, right or 

  
 42 

 
feature which the Plan does not otherwise offer. All transfers made pursuant to this Section 3.8 shall be referred to as “Rollover Contributions” and shall become assets of the
Trust. Non-cash amounts shall not be accepted as Rollover Contributions. The Trustee and the BAC may require the Eligible Person to submit any information they deem necessary in order to approve and effectuate
a rollover pursuant to this Section 3.8. The BAC shall not permit a transfer, if such transfer would violate any applicable law, regulation, or ruling. Any expenses incurred incident to the transfer of such property to the Plan may, at the
discretion of the BAC, be charged to the Account of the Eligible Person causing the transfer to the extent permitted by applicable law. 

(d) Accounting for Rollover Contributions. 

(i) In General. If the BAC determines to accept any Rollover Contributions, a separate “Rollover Contributions Account” and/or
“Roth Rollover Contribution Account” shall be established by the Trustee on behalf of each Eligible Person on whose behalf such a transfer is accepted and the amount of Rollover Contributions transferred shall be credited to the applicable
such account as of the Valuation Date coincident with the date the Account is established. Rollover Contributions shall be invested as provided by the Appropriate Form. A Participant’s interest in his Rollover and/or Roth Rollover Contributions
Account shall be non-forfeitable at all times and shall not be part of his Accrued Benefit. A Participant’s Rollover and/or Roth Rollover Contributions Account shall be subject to any restrictions or
provisions of law applicable to such Rollover Contributions, and such restrictions and provisions shall supersede any contrary terms and conditions herein. 

(ii) Special Rules for determining the 5-taxable year period applicable to Rollovers attributable to
Roth accounts. Notwithstanding the crediting of a Rollover Contribution described in (b), above, to the Eligible Person’s Roth Rollover Contribution Account, solely for purposes of determining whether or not the Eligible Person may be
treated as having satisfied the 5-taxable year period comprising one element of a Qualified Distribution with respect to any subsequent distributions from such Eligible Person’s Roth and/or Roth Rollover
Contributions Accounts under this Plan, such 5-taxable year period shall be deemed to have commenced as of the first day of the taxable year in which the Eligible Person first had designated Roth Contributions
made to the other qualified employee trust if such rolled over Roth Contributions were made in a taxable year earlier than the first taxable year in which the Eligible Person first made Roth Contributions to this Plan. 

  
 43 

 (e) Distribution of Rollover Contribution Accounts. Upon the occurrence of a
Triggering Event with respect to a Participant (or such Participant’s Beneficiary in the event of death of the Participant), such Participant or Beneficiary shall be entitled to a distribution of his Rollover Contributions Account in accordance
with the provisions of Article VII. A Participant’s Rollover Contributions Account shall be distributed in the same method, medium, form and time of payment as the Participant’s Accrued Benefit, in accordance with Article VII..

 3.9 Employer Retirement Contributions. 

(a) Eligibility. 

(i) Prior to the Effective Date. The eligibility of all employees whose Employment Commencement Date was on or after
January 1, 2010 and who were participants in the Plan for periods prior to the Effective Date to have a Retirement Contribution allocated to their Accounts shall be determined in accordance with the terms of the Plan as amended and restated
July 1, 2015 as amended through December 31, 2020. 
 (ii) On and After the Effective Date.    All
Employees who: 
 (A) have a compensation rate, as defined below, of less than $100,000 determined as of the first day of the Plan Year to
which the Retirement Contribution relates; 
 (B) are credited with at least one Year of Service as of the last day of the Plan Year; 

(C) are actively employed by an Employer on the last day of the Plan Year to which the Retirement Contribution relates and 

(D) are not considered a Highly Compensated Employee with respect to the Plan Year to which the Retirement Contribution relates, 

shall be eligible to have a Retirement Contribution allocated to their Accounts, regardless of whether they are Participants in the Plan. For purposes of
Section 3.9(a)(ii)(A), an Employee’s “compensation rate” shall mean the Employee’s annual base salary, projected hourly income or other basic annual compensation rate as reflected on the Employer’s books and records
effective on the Effective Date and each January 1 thereafter.    For the avoidance of doubt, Employees who are Totally and Permanently Disabled on the last day of the Plan Year shall not be eligible to have a Retirement
Contribution allocated to their Accounts.     

  
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 (b) Amount and Investment. 

(i) Prior to the Effective Date. The determination of the amount of the Retirement Contribution to be made for periods prior to the
Effective Date shall be determined in accordance with the terms of the Plan as amended and restated July 1, 2015 as amended through December 31, 2020. 

(ii) On and after the Effective Date. Subject to Section 3.1, each Employer shall contribute for each Employee defined in
subsection (a) the fixed dollar amount of seven hundred fifty dollars ($750).    Such amount shall be credited to a Retirement Contributions Account established by the BAC for each such Employee and shall be invested in
accordance with Section 4.1. 
 (c) Vesting. Each Employee shall vest in the amounts credited to his Retirement Contribution
Account in accordance with Section 3.4. 

  
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 ARTICLE IV 

INVESTMENT AND VALUATION OF ACCOUNTS 

4.1 Investment Options. 

(a) Amounts Subject to Participant Investment Direction. Except as otherwise provided in Section 5.2(e) regarding Acquisition
Offers, all Matching Contributions applicable to periods commencing prior to April 1, 2009, shall be paid to the Trustee to be initially invested and/or held in the Employer Stock Fund described in Section 4.2 below and may be reinvested
by the Participant in one (1) or more of the other Investment Funds available hereunder. All Employee Contributions applicable to a Participant under Section 3.2, (including, for this purpose, any
In-Plan Roth Conversion amounts credited to a Participant’s In-Plan Roth Conversion sub-account under the Participant’s
Roth Contributions Account), any amounts credited to the Transferred Amounts Account of a Transferee Participant under Section 3.6, or credited to the Rollover Contributions Account of a Participant under Section 3.8, effective for periods
commencing on or after April 1, 2009, all Matching Contributions applicable to a Participant under Section 3.3 and all amounts credited to the Retirement Contributions Account of a Participant under Section 3.9 shall be invested at
the direction (or deemed direction) of the Participant in one (1) or more of the Investment Funds made available hereunder. 
 (b)
Investment Options. At the direction of the BIC, the Trustee will establish and maintain four (4) or more separate types of Investment Funds within the Trust providing a broad range of investment alternatives which will give Participants
the opportunity to diversify investment of their Account Balances among alternatives with different risk and return characteristics. The BIC shall provide each Participant with a description of the Investment Funds available hereunder and such
additional information as it receives thereafter. 
 In addition to the Investment Funds initially established, other funds may be
established from time to time as determined by the BIC, and the BIC may provide any other form of investment option including, but not limited to, a Self-Directed Account and/or a Qualified Default Investment
Alternative, as it determines to be advisable; provided, however, that except for such funds and/or options made available solely to comply with Code Section 411(d)(6) or pursuant to the transaction agreements by which an entity became part of
the Controlled Group, such funds and options are made available uniformly to all Participants. Except as otherwise provided in Section 4.2 with respect to the Employer Stock Fund, the BIC may also eliminate any fund or other investment option
as it determines to be advisable. In the event of any such change, the BIC may direct that amounts invested in any affected fund or option be transferred to another fund or option chosen by the BIC, including, without limitation, in accordance with
a “qualified change in investment options” described in Section 404(c) of ERISA. 

  
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 The minimum initial investment in the Self-Directed Account is $5,000 and subsequent
transfers from any other fund or option into the Self-Directed Account must be of at least $1,000. The maximum amount that a Participant may elect to invest in the Self-Directed Account is fifty percent (50%) of his Account Balance. Accordingly, a
Participant must have at least a $10,000 Account Balance to be eligible to invest in the Self-Directed Account. By way of clarification and not limitation, to the extent a Participant has separate Self-Directed Accounts for the investment of
(i) that portion of the Participant’s Account Balance credited to the Participant’s Roth Contribution and/or Roth Rollover Contribution Accounts (“Roth Accounts”) and (ii) that portion of the Participant’s
Account Balance not credited to the Participant’s Roth Accounts (“Non-Roth Accounts”), then such minimum and maximum limits shall be applied to the combined value of such Self-Directed
Accounts. Notwithstanding the foregoing, in connection with any changes in the Investment Funds available under the Plan, each of the investment restrictions described above on the Self-Directed Account may be
temporarily suspended as the BIC determines to be advisable. 
 (c) Scope of Participant Investment Authority. The BIC intends to
rely to the fullest extent possible on the special rule set forth in ERISA Section 404(c) which relieves the BIC of liability or responsibility for any losses which are the direct and necessary result of Participant investment instructions.
Accordingly, all (i) Employee Contributions, (ii) Matching Contributions, (iii) Rollover Contributions, (iv) Retirement Contributions and (v) Transferred Amounts that are held under the Plan shall be allocated and invested
by the Trustee in the Investment Funds offered under the Plan solely in accordance with Participant instructions, and any Matching Contributions held under the Plan and initially invested in the Employer Stock Fund in accordance with the provisions
of Section 4.1(a) above shall be reinvested by the Trustee in the Investment Funds offered under the Plan as directed by the Participant; such that the Trustee, the BIC, the BAC, any Employer, and their delegates, employees, and/or agents shall
not be liable for the consequences of Participant allocation and investment instructions to the fullest extent permitted by ERISA Section 404(c). 

  
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 (d) Temporary Suspension of Certain Plan Activities in Connection with a Change in
Investment Options or Service Providers. Notwithstanding any contrary Plan provision, in the event of a change in the investment options under the Plan and/or a change in service providers (including, but not limited to, the recordkeeper), the
BAC may establish procedures for temporarily suspending certain Plan activities as it deems necessary or appropriate to implement the change involved. The activities that may be suspended include, but are not limited to, changes in salary reduction
percentages, investment elections or transfers, loans, and distributions; provided, however, that no such suspension shall apply to any distribution required by Code Section 401(a)(9). 

4.2 Employer Stock Fund. 

(a) Purpose. At the direction of the BIC, the Trustee will establish and maintain an Employer Stock Fund; which Fund shall be
permanently maintained as a Plan Investment Fund. The purpose of this Investment Fund is to invest in BNY Mellon Stock which has either been directly contributed to the Plan or acquired by the Trustee through any open market transaction. The Trustee
is further authorized to invest in short-term debt obligations of any nature, or to hold moneys received in cash pending investment or distribution. 

(b) Registration Statement Not Controlling. The terms and conditions of the Employer Stock Fund established under this Article IV
shall not be altered, modified, or otherwise affected by the provisions of any registration statement filed under the Securities Act of 1933, as amended, with respect to the Plan (“Registration Statement”) or any prospectus relating
to such Registration Statement. In the event of a conflict between the Plan and any such Registration Statement or prospectus as to the terms and conditions of the Plan, the Plan document shall control. 

4.3 Investment Elections. 

(a) Future Contributions. Except as otherwise provided in this Article 4 with respect to investments in BNY Mellon Stock, each
Employee, upon becoming a Participant, shall direct the investment of (i) Employee Contributions, (ii) Matching Contributions, (iii) Rollover Contributions, (iv) Retirement Contributions, (v) Transferred Amounts – and
including any In Plan Roth Conversion Amounts included in such contributions and amounts as a result of a Participant’s election to effectuate an In Plan Roth Conversion pursuant to Section 3.7 – to be made or credited on his behalf
by designating the percentage, in any whole percentage, of the combined Employee Contribution, Matching Contribution, Rollover Contribution, Retirement Contribution and/or Transferred Amount that is to be invested in each of the available Investment
Funds, other than a Self-Directed Account, by the Appropriate Form representing the Participant’s enrollment in accordance with subsection (d). Said elections shall remain in effect until changed by the
Participant as hereinafter provided and apply to the combined amount of all such contributions and amounts received after the effective date of the election. 

  
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 Notwithstanding the foregoing paragraph of this subsection (a), a Participant, including a
Transferee Participant, who does not have an election in effect under this Plan, shall have contributions made to the Plan on his behalf invested in a Qualified Default Investment Alternative. Notwithstanding the preceding sentence, where the
investment funds available to a Transferee Participant under a Prior Plan are substantially similar to the Investment Funds available under this Plan, the BIC, in its sole discretion, may direct that the Transferred Amounts from such Prior Plan be
invested in the Investment Funds under this Plan which correspond to the investment funds under such Prior Plan. 
 (b) Change in
Investment Elections. 
 (i) Future Contributions. Except as otherwise provided in this Article IV with respect to
investments in BNY Mellon Stock, a Participant may elect to change his investment election with respect to (A) Employee Contributions, (B) Matching Contributions, (C) Rollover Contributions, (D) Retirement Contributions and
(E) Transferred Amounts to be made or credited on his behalf to one (1) or more of the Investment Funds then available by timely submitting the Appropriate Form containing the change in accordance with subsection (d). The new investment
election shall be effective and apply to the combined amount of all such contributions and amounts made or credited after the Appropriate Form containing the change becomes effective under subsection (d) and shall remain in effect until changed
by the Participant. 
 (ii) Reallocation of Existing Investments. Except as otherwise provided in this Article IV with
respect to investments in BNY Mellon Stock, a Participant may elect to reallocate the Investment Funds in which his existing Account is invested to one (1) or more of the Investment Funds then available by timely submitting the Appropriate Form
containing the reallocation in accordance with subsection (d). The reallocation election shall apply, pro rata among all fund sources, to such portion or portions of the Participant’s Account determined as of the end of the day prior to the day
on which the reallocation is to be effective as the Participant so elects. 

  
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 (c) Special Rules Regarding Investments in BNY Mellon Stock. 

(i) Future Contributions. Each Employer who by reason of a Participant’s election pursuant to this Section is
directed to invest (A) Employee Contributions, (B) Matching Contributions, (C) Rollover Contributions, (D) Retirement Contributions and (E) Transferred Amounts in the Employer Stock Fund shall contribute, on the
Participant’s behalf, BNY Mellon Stock having a Fair Market Value in an amount not greater than the combined dollar amount of such contributions and amounts, as applicable, due from such Employer pursuant to such direction. The number of shares
of BNY Mellon Stock to be credited to the Account of a Participant is determined by dividing the combined dollar amount of such contributions and amounts to be made or credited on behalf of a Participant by the Fair Market Value of BNY Mellon Stock.
The Fair Market Value of BNY Mellon Stock, as determined in (iv) below, may be adjusted to the nearest dollar amount, as appropriate, so that the BNY Mellon Stock is obtained by the Plan in whole numbers of shares, but may be credited to
Participants’ accounts in whole and fractional shares. 
 (ii) Reallocation of Existing Investments; Acquiring BNY
Mellon Stock. An election to reallocate which involves the liquidation of all or some portion of a Participant’s interest in Investment Funds other than the Employer Stock Fund (“Other Funds”) and a direction to invest all or some
portion of the proceeds in the Employer Stock Fund shall be applied, pro rata, among all fund sources and effectuated in two steps. 

Step One. To the extent administratively practicable, the portion of the election relating to the liquidation of the
Other Fund(s) shall be effective as of Market Close on the Trade Date. 
 Step Two. To the extent administratively
practicable, the proceeds attributable to the liquidation of the Other Fund(s) in Step One on the Trade Date shall be used, during the Trade Date Plus One, to acquire that number of full and fractional shares of BNY Mellon Stock equal to the
quotient of the dollar amount of such proceeds directed to be invested in the Employer Stock Fund divided by the Share Price. 

(iii) Reallocation of Existing Investments; Selling BNY Mellon Stock. An election to reallocate which involves the
liquidation of all or some portion of a Participant’s shares of BNY Mellon Stock held in the Employer Stock Fund and a direction to invest all or some portion of the proceeds in an Other Fund shall be applied, pro rata, among all fund sources
and effectuated in four steps. 

  
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 Step One. The number of shares of BNY Mellon Stock represented by the
Participant’s interest in the Employer Stock Fund shall be determined in accordance with Section 4.7 effective as of Market Close on the Valuation Date prior to the Trade Date. 

Step Two. On the Trade Date, the Participant’s percentage election to liquidate all or some portion of the
Participant’s interest in the Employer Stock Fund shall then be converted into a direction to liquidate the corresponding number of full and fractional shares of BNY Mellon Stock determined in Step One. 

Step Three. To the extent the Participant’s direction to sell is received before 3:30 p.m. Eastern Time, the number
of full and fractional shares of BNY Mellon Stock determined in Step Two on the Trade Date shall be sold for their Share Price throughout the Trade Date. Instructions received after 3:30 p.m. Eastern Time will be processed on the Trade Date Plus
One. 
 Step Four. The proceeds attributable to the sale of BNY Mellon Stock described in Step Three shall be used as
of Market Close on the Trade Date (or the Trade Date Plus One, if applicable) to acquire the interests of the Other Fund(s) specified in the Participant’s allocation election in accordance with the procedures set forth in Section 4.7. 

To the extent receipt of the proceeds attributable to the settlement of the sale of BNY Mellon Stock described in Step Three is delayed beyond
the Trade Date Plus One as permitted under the rules and regulations applicable to sales of BNY Mellon Stock on the New York Stock Exchange, the Trustee may receive an interest free loan from a “party in interest” to the Plan (within the
meaning of ERISA Section 3(14)) which satisfies the conditions described in Prohibited Transaction Class Exemption 80-26 and use the proceeds from such interest free loan to acquire the interests of
the Other Fund(s) specified in the Participant’s allocation election in accordance with the procedures set forth in Section 4.7. 

(iv) Definitions. For purposes of this Section, the following words shall have the meanings ascribed to them in this
paragraph: 

  
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 (A) “Fair Market Value”. The “Fair Market Value” of BNY Mellon
Stock shall be based on the average Market Close prices of BNY Mellon Stock as reported on the New York Stock Exchange for the Valuation Date for which the transaction is initiated and the preceding two business days. 

(B) “Market Close”. “Market Close” shall be 4 p.m. Eastern Time or such other earlier time as shall be determined
by the board of governors of the New York Stock Exchange and communicated to issuers listed on such Exchange. 
 (C) “Share
Price”. “Share Price” shall mean the actual price for which the shares of BNY Mellon Stock were acquired or sold, as applicable, on the New York Stock Exchange at the time of the transaction without regard to the actual share
price at market close or at any other time or on any other Valuation Date. Notwithstanding the preceding sentence, the Share Price of the BNY Mellon Stock acquired or sold by the Trustee on the New York Stock Exchange on behalf of a Participant
pursuant to an election to reallocate will be the average net price for which all shares of BNY Mellon Stock acquired or sold throughout the Trade Date in one or more transactions (at one or more purchase or sale prices) as necessary or appropriate
to fulfill the aggregate reallocation elections of all Participants being implemented on the same Trade Date in accordance with the administrative procedures established by the Plan Administrator. 

(D) “Trade Date”. “Trade Date” shall mean the day of the receipt of the election to reallocate, provided the
election is both received prior to Market Close (or prior to 3:30 p.m. Eastern Time for directions to sell BNY Mellon Stock) and the date of receipt is a Valuation Date; and as of the next following Valuation Date for all other elections, or at such
other dates or times as may be established by the BAC for the change of investment elections. 
 (E) “Trade Date Plus One”.
“Trade Date Plus One” shall mean the Valuation Date next following the Trade Date, or such other dates or times as may be established by the BAC for the change of investment elections. 

  
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 (d) Notice. A Participant shall communicate his initial enrollment and investment
election, subsequent changes in investment elections, or election to reallocate existing Account Balances by submitting the Appropriate Form to the BAC. All initial enrollment and investment elections and subsequent changes in investment elections
shall be stated in whole percentages. All elections to reallocate existing account balances shall be stated in whole percentages or dollar amounts. Except as otherwise provided in subsection 4.3(c) with respect to reallocation elections involving
BNY Mellon Stock, to the extent administratively practicable, any such election shall be effective as of Market Close on the Trade Date. 

4.4 Limitations on Investments. 

(a) In General. Notwithstanding anything contained in this Plan or in the Trust Agreement and except as provided in Sections 4.1 and
4.2 herein, no investment in any Investment Fund shall be made in any security or property in which any Employer has a direct participation. The prohibitions set forth in this Section shall not be applicable to any investment of Plan assets in any
units of any common, collective, group, or pooled fund which holds, as an asset, any such securities or property in which an Employer has a direct participation. In addition to any restrictions imposed on Participant’s by The Bank of New York
Mellon Corporation Personal Securities Trading Policy, Participants’ ability to transfer funds between Investment Funds shall be subject to restrictions imposed by the Investment Fund manager and any rules or restrictions established by the BIC
and/or any independent fiduciary appointed by the BIC to monitor one or more Investment Funds. Without intending to limit the generality of the preceding sentence, the BIC shall take such actions and establish such policies and procedures as it
determines to be necessary or appropriate to prohibit the transfer of Participant accounts between investment options which speculate on short-term market fluctuations and any other trading activities which
the BIC, in its sole discretion, determines: are inconsistent with the stated policies of the investment option; may possibly have an adverse effect on the overall return of the affected investment option to the detriment of Participants not
engaging in such activities; or which are otherwise inconsistent with the retirement objectives of the Plan. By way of illustration and not limitation, such actions and policies and procedures may include suspensions, limitations, terminations or
restrictions which: (a) limit the number of investment directions to a particular investment option over a stated period of time; (b) establish daily trading deadlines for receipt of Participant directions to a particular investment option
(or all investment options) earlier than the deadline applicable to investment directions to other 

  
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investment options under the Plan or to the deadline applicable to the trading in the investment option outside the Plan; (c) impose fees, payable by the Participant to the affected
investment option, on redemptions of investments in a particular option which occur within a stated period of time; (d) require the temporary or permanent manual processing of investment directions of Participants determined to have violated
any established and communicated trading restriction or limitation; and (e) require the temporary or permanent termination of a Participant’s entitlement to make investments in a particular investment option. 

(b) Limitations on Investment in Employer Stock Fund. Notwithstanding anything in this Plan to the contrary, effective on and after
September 28, 2020, no Participant shall be permitted to invest any future contributions in the Employer Stock Fund nor reallocate existing Investment Fund allocations into the Employer Stock Fund at any time when the percentage of such
Participant’s Account invested in the Employer Stock Fund exceeds twenty percent (20%) (“BK Stock Limit”). At any time when a Participant’s investment in the Employer Stock Fund is equal to or less than the BK Stock Limit,
future contributions and/or reallocation elections may be invested in the Employer Stock Fund to the extent such new contributions and/or reallocation elections will not cause the BK Stock Limit to be exceeded. By way of clarification and not
limitation, although they cannot make new investments and/or allocations, Participants whose existing allocations to the Employer Stock Fund on September 28, 2020 exceed the BK Stock Limit shall be permitted to continue to hold their interests
in the Employer Stock Fund and shall not be required to liquidate and reallocate any portion of such investment. 
 4.5 Prohibited
Transactions. In addition to the restrictions contained in Section 4.4, unless there exists an exemption by reason of applicable law or regulations issued by the appropriate government agency, neither this Plan nor the Trust Agreement
forming a part hereof shall be construed or interpreted to permit either directly or indirectly: 
 (a) the lending of any part of corpus or
income; 
 (b) the payment of any compensation for personal services rendered by the Trust; 

(c) the making of any part of its services available on a preferential basis; or 

(d) the acquisition for the Trust of any property from or the sale of property 

to a “party in interest”, within the meaning of ERISA Section 3(14), or any other prohibited transaction described under ERISA
Section 406. 

  
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 4.6 Valuation of Investment Funds. The investment manager shall be responsible for
valuation of the Investment Funds other than the Employer Stock Fund, and shall communicate such valuation to the Trustee. The Trustee shall be responsible for valuation of the Employer Stock Fund. The Trustee shall be entitled to rely on the
valuation of any asset provided to the Trustee by an investment manager, the sponsor of an Investment Fund or any other person, provided that such reliance is consistent with the provisions of ERISA and other applicable law. 

4.7 Valuation and Adjustment of Accounts. 

(a) Determination of Share Value. A Participant’s Account reflects his interest in each Investment Fund. A Participant’s
interest in each Investment Fund shall be represented by “shares” of participation. 
 As of each Valuation Date the investment
manager or Trustee, as applicable, shall determine the net asset value of a share in each Investment Fund by determining the fair market value of the Investment Fund, subtracting the related Investment Fund liabilities, and dividing the result by
the total number of shares in that Investment Fund (or by another valuation method reasonably determined by such investment manager). 
 (b)
Crediting of Shares. After determining the share value pursuant to subsection (a), each separate Investment Fund held in an Account, including, by way of clarification and not limitation, any separate Roth Contributions subaccount and/or Roth
Rollover Contributions subaccount, for a Participant shall be: 
 (i) credited as of the Valuation Date coinciding with the
last day of each payroll period with the number of shares equal to the sum of Employee Contributions, Matching Contributions, and any loan repayments made by payroll deduction, made into such Investment Fund for that payroll period (loan repayments
not made by payroll deduction shall be credited no later than the end of the calendar month to which the repayment applies, in accordance with procedures established by the BAC); and 

(ii) credited as of each Valuation Date with any interest and other earnings earned on the Investment Fund and with any
forfeitures that are restored to Participants upon reemployment with an Employer under Section 3.4; and 

  
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 (iii) credited and debited, as applicable, with the number of shares
applicable to reallocations made pursuant to transfers among Investments as of any Valuation Date; and 
 (iv) debited as of
the end of any calendar month (or such other earlier Valuation Date as determined by the BAC in its discretion) with the number of shares applicable to any forfeitures and distributions made on termination of employment; and 

(v) debited as of each applicable Valuation Date with the number of shares applicable to a hardship withdrawal, in-service withdrawal or loan made from a Participant’s Account pursuant to Article VI; and 

(vi) credited with the amount of any Transferred Amounts, In-Plan Roth Conversion
amounts and/or Rollover Contributions in accordance with the provisions of Sections 3.6, 3.7 and 3.8, as applicable; and 

(vii) credited as soon as possible following the close of the Plan Year to which it relates (but in no event later than the
time required by applicable law for having the contribution treated as relating to such Plan Year) with the amount of any Retirement Contributions in accordance with the provisions of Section 3.9. 

(c) Crediting of Certain Dividends. Dividends earned by an Investment Fund other than the Employer Stock Fund shall be credited to the
Account of the Participant who is the holder of record on the dividend record date in accordance with the rules established by the investment manager. The market value determination of the Employer Stock Fund shall take into account dividends
actually received on the BNY Mellon Stock held in such fund prior to the Valuation Date. The market value determination of the Employer Stock Fund shall also take into account dividends which have been declared as of the Valuation Date on the BNY
Mellon Stock held in such fund, whether or not they have been received prior to the Valuation Date. For purposes of this subsection (c) only, the “fair market value” of BNY Mellon Stock purchased in the quarterly dividend reinvestment
shall be at the dividend reinvestment price. 
 (d) Valuation and Allocation Final. The determination of the market value of the
assets of the Trust and charges or credits to the individual Accounts of the respective Participants in the respective Investment Funds in accordance with this section shall be conclusive and binding upon all parties hereunder. Notwithstanding
anything in the Plan to the contrary, the establishment of the market value of a Participant’s Account as of any Valuation Date shall not establish any rights in anyone as to the value of any benefit that shall become payable under this Plan.
The value of any benefit payable hereunder shall be that value established on the date applicable to the valuation of the payment of such benefit. 

  
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 4.8 Participant’s Risk. Each Participant assumes all risk connected with any
decrease in the market value of any Plan assets held by the Trustee. Neither the Trustee, the BAC, the BIC, the Plan Manager(s), nor any Employer in any way guarantees the Trust Fund or any Investment Fund against loss, depreciation, or the payment
of any amount which may be or become due to any person from the Trust Fund; nor shall the Trustee, the BAC, the BIC, the Plan Manager(s), or any Employer incur any liability therefor except to the extent required by ERISA. 

4.9 Quarterly Statements. The BAC will provide each Participant with a statement of the value of his Account Balance attributable to
each Investment Fund as of the ending Valuation Date of each calendar quarter. 
 4.10 Interim Investments. Notwithstanding any other
provisions of the Plan to the contrary, if immediate investment in the proper Investment Fund or immediate payment from the Plan, as the case may be, is not possible, contributions may be: 

(a) invested by the Trustee temporarily in demand or short-term notes, United States treasury bills,
other short-term government obligations, commercial paper, or one or more of the foregoing; or 

(b) invested by the Trustee principally in securities and other property of the kind set forth in subsection (a), as part of a short-term pooled fund maintained by the Trustee for investment of funds of plans which are qualified under Code Section 401(a) and exempt under Code Section 501(a). 

  
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 ARTICLE V 

VOTING 
 5.1
Right to Vote / Tender . Each Participant whose Account is invested in whole or in part in BNY Mellon Stock held in the Employer Stock Fund shall have the right to direct the Trustee to vote / tender all such shares of stock as shall be
represented by his interest in such Employer Stock Fund in accordance with Section 5.2 and the applicable terms of the Trust Agreement. In the event of a conflict between the terms of Section 5.2 and the Trust Agreement, the terms of the
Trust Agreement shall control. 
 5.2 Voting / Tender Procedures. 

(a) Before each meeting of the shareholders of the Corporation and except as otherwise agreed between the Corporation or its delegate and the
Trustee, the Corporation or its delegate shall furnish (or cause to be furnished) each Participant with a copy of the proxy solicitation materials and an Appropriate Form through which such Participant may provide confidential instructions to the
Trustee as to the manner in which the Trustee is to vote the number of full and fractional shares of BNY Mellon Stock as shall be represented by the Participant’s interest (both vested and non-vested) in
the Employer Stock Fund. The Trustee shall vote such allocated shares in the manner instructed by the Participant. 
 (b) The Trustee shall
vote the full and fractional shares of BNY Mellon Stock not credited to Participant accounts, together with that number of shares which are credited to Participant accounts for which no voting instructions are timely received, in the same proportion
as the shares for which it has received timely voting instructions; subject, however, to review by any Investment Manager described in Section 8.3(c) appointed by the BIC (the “Independent Fiduciary”) to make certain fiduciary
decisions related to BNY Mellon Stock held in the Employer Stock Fund and pursuant to any direction that any such Independent Fiduciary may give the Trustee. 

(c) Special rules shall apply if an Acquisition Offer is made for BNY Mellon Stock. As used herein, an “Acquisition Offer” shall
mean an offer made by any person, legal or natural, or group of persons to acquire all or part (in excess of five percent (5%)) of the outstanding shares of BNY Mellon Stock, including any such shares held in the Plan. In the event of an Acquisition
Offer, the Corporation or its delegate shall furnish (or cause to be furnished) each Participant with a copy of the materials received in connection with such Acquisition Offer and an Appropriate Form through which such Participant may provide

  
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confidential instructions to the Trustee as to whether or not to tender or exchange the number of full and fractional shares of BNY Mellon Stock as shall be represented by the Participant’s
interest (both vested and non-vested) in the Employer Stock Fund. The Trustee shall tender or exchange such allocated shares in the manner instructed by the Participant. The Trustee shall not tender or
exchange any such shares of BNY Mellon Stock credited to Participant accounts for which it has not received timely instructions from the Participant. 

(d) Except to the extent the Trustee has been notified by the BIC that the Independent Fiduciary shall be responsible for the tender or
exchange of BNY Mellon Stock held under the Plan, the Trustee shall tender or exchange that number of full and fractional shares of BNY Mellon Stock not credited to Participant accounts which is determined (after giving effect to the withdrawal of
any shares of BNY Mellon Stock before the expiration of the Acquisition Offer or any earlier date set by the Trustee) by multiplying the total number of such shares of BNY Mellon Stock not credited to Participant accounts by a fraction of which the
numerator is the number of shares of BNY Mellon Stock credited to Participant accounts for which the Trustee has received timely instructions from Participants to tender or exchange and of which the denominator is the total number of shares of BNY
Mellon Stock credited to Participant accounts; subject, however, to review by the Independent Fiduciary and pursuant to any direction that any such Independent Fiduciary may give the Trustee. 

  
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 ARTICLE VI 

WITHDRAWALS, IN-SERVICE WITHDRAWALS, AND LOANS 

6.1 Effective Date. Except for the earlier effective dates applicable to those changes required or permitted by either: (a) the
final hardship regulations issued in September, 2019, as contemplated by the Bipartisan Budget Act of 2018 and/or (b) those temporary enhancements permitted by the Coronavirus Aid, Relief, and Economic Security Act signed by the President on
March 27, 2020 (the “CARES Act”), the provisions of this Article VI are generally effective with respect to withdrawals, in-service withdrawals and loans applied for on and after the
January 1, 2021 Effective Date. 
 6.2 Hardship Withdrawals.    In the event of hardship, a Participant
(whether or not employed) may apply to the BAC for the immediate payment of all or part of his Accounts attributable to: 
 (a) his Contract
Contributions (excluding earnings credited on or after January 1, 1989), other than any such amounts invested in a Self-Directed Account (the Participant’s “Non-Roth Hardship
Amounts”); and/or 
 (b) his Roth Contributions and In-Plan Roth Conversion sub-accounts related to his Contract Contributions (exclusive of earnings), other than any such amounts invested in a Self-Directed Account (the Participant’s “Roth Hardship Amounts”). 

Such application(s) shall be made in accordance with procedures established by the BAC and not more than one request from each such Non-Roth and Roth Hardship Amounts (for a total of 2 separate requests) may be made in any Plan Year. For purposes of this subsection, “hardship” means an immediate and heavy financial need of the
Participant on account of (a) expenses for medical care (as described in Code Section 213(d)) incurred by the Participant, the Participant’s Spouse or any of the Participant’s dependents (as defined in Code Section 152,
determined without regard to subsections (b)(1), (b)(2) and (d)(1)(B) thereof) or necessary for such persons to obtain medical care, (b) purchase (excluding mortgage payments) of the Participant’s principal residence, (c) payment of
tuition and related educational fees for the next twelve (12) months of post-secondary education for the Participant, or the Participant’s spouse, children or dependents (as defined in Code Section 152, without regard to subsections
(b)(1), (b)(2), and (d)(1)(B) thereof), (d) the need to prevent the eviction of the Participant from his principal residence or foreclosure of the mortgage on the Participant’s 

  
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principal residence, (e) payments for burial or funeral expenses for the Participant’s deceased parent, Spouse, children or dependents (as defined in Code Section 152, without
regard to Section 152(d)(1)(B)), (f) expenses for the repair of damage to the Participant’s principal residence resulting from a sudden, unexpected or unusual event not covered by insurance and without regard to whether such expenses
would qualify for the casualty deduction under Code Section 165 (determined without regard to whether the loss exceeds 10% of adjusted gross income) or (g) other reasons prescribed by the Commissioner of the IRS in revenue rulings, notices
or other documents of general applicability. The Plan permits distributions for expenses described in § 1.401(k)-1(d)(3)(iii)(B)(1), (3), or (5) (relating to medical, tuition, and funeral expenses,
respectively and described in (a), (c) and (e), above) for a primary beneficiary under the Plan. For this purpose, a “primary beneficiary under the Plan” is a Domestic Partner or other individual who is named as a beneficiary under the
Plan and has an unconditional right to all or a portion of the Participant’s account balance under the Plan upon the death of the Participant. 

The BAC shall direct the Trustee to pay to such Participant all or such part of his Non-Roth and/or
Roth Hardship Amounts, as applicable, as the BAC, in its sole discretion, deems necessary to satisfy such hardship (including amounts required to pay income taxes or penalties on such payments, if applicable), provided that the Participant has
demonstrated to the satisfaction of the BAC that he has no other resources that are reasonably available to him and has either received any available withdrawal (other than a hardship withdrawal or a Plan loan but including electing distribution of
cash dividends described in Section 13.4) under this Plan and other plans sponsored by the Corporation or its affiliates or demonstrated to the satisfaction of the BAC that requesting such available withdrawals would not completely alleviate
the hardship. 
 A Participant must specify whether a particular hardship request is to come from: 

(x) Non-Roth Hardship Amounts; 

(y) Roth Hardship Amounts; or 

(z) Partially from Non-Roth Hardship Amounts and partially from Roth Hardship Amounts 

and may receive no more than two (2) (one each from Non-Roth and Roth Hardship Amounts) hardship withdrawal in any
calendar year. Any withdrawal request described in (z), above, shall be treated as two (2) separate requests. For any hardship withdrawal applications made prior to January 1, 2020, the Participant shall further be prohibited from making
Employee Contributions 

  
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under this plan, and elective (pre-tax and Roth) contributions and employee contributions to any other plans maintained by the Corporation or an affiliated
company (within the meaning of Treasury Regulation § 1.401(k)-1(d)(3)(iv)(F)) for a period of six (6) months (the “Six Month Suspension Requirement”) after receipt of the hardship
withdrawal pursuant to this Section 6.2; provided, however, that such suspension requirement shall not affect any election to reinvest cash dividends made pursuant to Section 13.4. Such Six Month Suspension Requirement shall not apply to
hardship withdrawal applications made on and after January 1, 2020. 
 6.3 In-Service
Withdrawal of After-Tax and Rollover Contributions. Each Participant who is an active Employee may elect to withdraw in cash as of any Valuation Date all or any part of the Value credited to the following
Accounts, other than amounts invested in a Self-Directed Account: 
 (a) all amounts credited to his
After-Tax Account (the Participant’s “After-Tax Withdrawal Amounts”); 

(b) all amounts credited to his Rollover Contribution Account (but excluding any Roth Rollover Contribution Subaccount), (the
Participant’s “Non-Roth Withdrawal Amounts”); and/or. 
 (c) all amounts
credited to his Roth Rollover Contribution Subaccount (the Participant’s “Roth Withdrawal Amounts”). 
 Such election shall be made in
accordance with procedures established by the BAC; provided, however that a Participant must specify whether a particular withdrawal request is to come from: 

(w) After-Tax Withdrawal Amounts; 

(x) Non-Roth Withdrawal Amounts; 

(y) Roth Withdrawal Amounts; or 

(z) from a combination of Non-Roth and Roth Withdrawal Amounts. 

and, except as hereafter provided with respect to a Participant’s After-Tax Withdrawal Amounts, may receive no
more than two (2) withdrawals (one each from Non-Roth and Roth Withdrawal Amounts) in any calendar year. Any withdrawal request described in (z), above, shall be treated as two (2) separate requests.
Effective on and after January 1, 2021 and in addition to any withdrawal requests from the Participant’s Non-Roth and Roth Withdrawal Amounts, a Participant may receive up to four
(4) withdrawals of After-Tax Withdrawal Amounts in any calendar year. 

  
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 6.4 Withdrawal Upon Attainment of Age 59
1⁄2. Upon attainment of age 591⁄2, a Participant (whether or not
employed) may elect as of any Valuation Date to withdraw all or part of the Value credited to the following Accounts, other than amounts invested in a Self-Directed Account: 

(a) all amounts credited to his Account other than amounts credited to his Roth Contributions Account (including any In-Plan Roth Conversion subaccounts) and/or Roth Rollover Contributions Account (collectively, the Participant’s “Non-Roth Age 59 1⁄2 Withdrawal Amounts”) ; and/or 
 (b) all
amounts credited to his Roth Contribution Account (inclusive of any amounts credited to any In-Plan Roth Conversion sub-accounts) and/or Roth Rollover Contributions
Account (collectively, the Participant’s “Roth Contribution Age 59 1⁄2 Withdrawal Amounts”). 

Such election shall be made in accordance with procedures established by the BAC; provided, however that a Participant must specify whether a particular
withdrawal request is to come from: 
 (w) Non-Roth Age 59
1⁄2 Withdrawal Amounts; 
 (x) Roth Contribution
(including subaccounts) Age 59 1⁄2 Withdrawal Amounts; or 

(y) from a combination of the listed Age 59 1⁄2 Withdrawal
Amounts 
 and may receive no more than two (2) Age 59 1⁄2
withdrawals (one each from Non-Roth and Roth Contribution Age 59 1⁄2 Withdrawal Amounts) in any calendar year. Any
withdrawal request described in (y) comprised of requests directed to a combination of the above-described Age 59 1⁄2 Withdrawal Amounts shall be treated as
two separate requests, as applicable. 
 6.5 Additional Rules Relating to Withdrawals. For purposes of Sections 6.1 through 6.4, the
following additional rules relating to withdrawals shall apply: 

  
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 (a) Each request for a withdrawal must be for a minimum of $100 from all Accounts (such
that where a withdrawal is partially from a Participant’s Roth Amounts and Partially from his Non-Roth Amounts a minimum of $100 is not required to be withdrawn from each such Amount provided the total
withdrawn is at least $100) and otherwise be made in accordance with procedures established and uniformly applied by the BAC, and at such times as determined by the BAC. The BAC may require the Participant to provide such other information as it
deems necessary or desirable in connection with any withdrawal request. 
 (b) All withdrawals will be in the form of a single sum in cash;
provided however, that a Participant may elect to take a withdrawal pursuant to Section 6.4 in the form of cash and whole shares of BNY Mellon Stock. Dividends paid on BNY Mellon Stock subject to the withdrawal, to the extent applicable, will
further be distributed in cash. 
 (c) Subject to a Participant first specifying whether a requested withdrawal is to apply to the
Participant’s After-Tax, Roth and/or Non-Roth Amounts, if applicable, distribution of the amount to be withdrawn will be generated by liquidating some or all of the
particular Investment Funds in which the specified Account is invested in accordance with a nondiscriminatory hierarchy established and uniformly applied by the BAC and communicated to Participants and will be made as soon as practicable after the
withdrawal request is processed and approved. 
 (d) Amounts withdrawn by a Participant pursuant to Sections 6.1 through 6.4 above cannot
be returned to the Plan. 
 (e) Withdrawals, other than hardship withdrawals, shall be subject to the direct rollover provisions of
Section 7.3. 
 (f) Withdrawals cannot be made from any portion of a Participant’s Account Balance credited to a loan subaccount.

 (g) Notwithstanding anything in Sections 6.2 through 6.4 to the contrary, amounts credited to a Transferee Participants separate Prior
Employer Spousal Consent Account shall not be subject to withdrawal. 
 6.6 Loans. 

(a) Establishment of Loan Rules. The BAC shall establish (under uniform, nondiscriminatory rules which shall be consistently applied
and which rules are to be published and distributed from time to time as such rules are modified or adjusted) a system whereby Participants who are “parties in interest” (as defined in ERISA Section 3(14)) are able to apply for and be
granted loans from the assets of this Plan secured by the value of the 

  
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Participant’s Account Balance (determined as of the date on which the Appropriate Form containing the loan request is received by the Plan Manager). The provisions of this
Article establish limits beyond which the BAC or its delegate may not and is not authorized to approve loans. Any loan which has terms in contravention of this Section 6.6, as the same shall be from time to time written and subject to the
temporary CARES Act Enhancements described in Section 6.7, shall be null and void notwithstanding the fact that such loan may not cause this Plan to lose its favorable tax treatment or harm other Participants. If not otherwise provided in the
terms of any loan made pursuant to this Article, any and all of the limits contained in this Article at the time the loan was granted shall be incorporated in such loan by reference. 

(b) General Limitations. The BAC shall not be authorized nor have the power to make any loan which shall be in contravention of the
following: 
 (i) At any time, loans will be available on the same or consistent terms to all Participants who are “parties in
interest” (as defined in ERISA Section 3(14)) and who are then eligible to borrow. No loans will be available to Inactive Participants who are former employees, receiving payments under the Long Term Disability Plan, on an unpaid leave of
absence or under similar circumstances as determined by the BAC where the Participant is not receiving remuneration through an Employer payroll. For the purpose hereof, the size of the amount borrowed and the total amount previously borrowed may be
considered, provided such facts are consistently and uniformly considered. 
 (ii) Each Participant who receives a loan will be
required to execute a promissory note or other evidence of indebtedness (the “Note”) which will reflect the amount and the terms of the loan. In addition, the Note will provide for the creation of a security interest in and for the pledge
and assignment of not more than fifty percent (50%) of the Participant’s vested right, title, and interest in his Account Balance under the Plan (determined as of the date that the loan is made) as security for repayment of the loan, and will
describe any events which may or will cause the loan to become immediately due and payable in full. To the extent a Participant’s Account Balance includes amounts credited to a separate Prior Employer Spousal Consent Account, then,
notwithstanding the fact that amounts credited to such Account may be taken into account for determining the maximum amount which such a Participant may borrow under Section 6.6(c), the security interest required by this Section 6.6(b)(ii)
shall apply only to the portion of such a Participant’s Account not attributable to such Participant’s Prior Employer Spousal Consent Account such that, in effect, the maximum security interest such a Participant may grant (and the maximum
loan such a Participant may therefore receive) may not exceed the lesser of: (1) fifty percent (50%) of the Participant’s vested right, title, and interest in his Account Balance under the Plan (determined as of the date that the loan is
made) or (2) 100% of that portion of a Participant’s Account Balance not attributable to his Prior Employer Spousal Consent Account. 

  
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 (iii) The Note shall be treated as a
Participant-directed investment, and held in the Participant’s Account. The principal and interest paid on such Note shall be invested by the Trustee among the available Investment Fund(s) in the same
manner as the Participant’s Employee Contributions. In the event no Employee Contributions are made with respect to any period for which loan repayments are received, such loan repayments shall be invested in accordance with the investment
election on file immediately prior to the termination of the Employee Contribution and, if no such election is on file or is no longer applicable because the investment funds have changed, such loan repayments shall be invested in a Qualified
Default Investment Alternative, unless the Participant makes an election as to the investment of such loan repayment on an Appropriate Form. To the extent a loan repayment is to be invested in the Employer Stock Fund, such amount shall be converted
into a contribution of BNY Mellon Stock in accordance with the procedures set forth in Section 4.3(c)(i) and subject to the BK Stock Limit described in Section 4.4(b). 

(iv) The amount of any loan will be computed in accordance with subsection (c) below. 

(v) All loan proceeds will be attributable solely to Plan assets previously allocated to the Matching Contributions, Contract Contributions,
Roth Contributions (including any In-Plan Roth Conversion amounts sub-account), After-Tax Contributions, Transferred Amounts,
Rollover Contributions, Roth Rollover Contributions and/or Retirement Contributions, Accounts, and any related subaccounts, which have been liquidated by the Trustee to effectuate the Participant’s loan request. Where the Participant has more
than one type of subaccount and/or which is invested in more than one Investment Fund, the liquidation shall be conducted in accordance with the following principles: 

(1) to the extent applicable, a Participant’s subaccounts will be liquidated in accordance with a nondiscriminatory hierarchy
established by the BAC and communicated to Participants; provided, however, that to the extent a Participant has a Roth Contributions (including any In-Plan Roth Conversion amounts sub-accounts) and/or Roth Rollover Contributions subaccount (collectively referred to as “Roth Accounts”), such Roth Accounts shall only be liquidated to the extent necessary to fund any portion of
a loan request which remains unfunded after the Participants other subaccounts have been completely liquidated in order to generate amounts to fund the loan. 

  
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 (2) with respect to each subaccount, liquidations shall be made pro-rata among all Investment Funds other than the Employer Stock Fund and, if applicable, the Participant’s Self-Directed Account (the “Other Funds”); 

(3) to the extent that proceeds necessary to satisfy the amount of the requested loan cannot be satisfied by completely liquidating the
portion of the Participant’s Account held in a particular subaccount invested in Other Funds, then the liquidation shall advance to successive subaccounts until sufficient proceeds are generated; 

(4) to the extent that proceeds necessary to satisfy the amount of the requested loan cannot be satisfied by completely liquidating all of
the Participant’s subaccounts invested in Other Funds, then the liquidation shall return to the beginning of the hierarchy established in step (1) and commence to liquidate that portion of each subaccount invested in the Employer Stock
Fund in the same order and in the same fashion as described in steps (1) through (3) above until proceeds sufficient to completely satisfy the loan distribution are generated. 

In no event shall that portion of the Participant’s Account which is invested in a Self-Directed Account and/or
credited to a Transferee Participants separate Prior Employer Spousal Consent Account be liquidated in order to provide proceeds for any requested Participant loan. 

(vi) Loans must bear a rate of interest which is commensurate with the prime rate as published in the Wall Street Journal for the
first business day of the month in which the loan is issued, plus one percent (1%), or, in the case of a Residential Loan, the first business day of the month in which the applicable promissory note is issued to the Participant, plus one percent
(1%). The interest rate shall be fixed for the term of the loan. Notwithstanding the foregoing, in accordance with the Service members Civil Relief Act of 2003 (“SCRA”), during any period of military service, the interest rate on a loan
shall not exceed six percent (6%), provided that the Participant notifies the Plan Manager of his military service no later than 180 days after the date of the Participant’s termination or release from military service as required under SCRA.

  
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 (vii) For periods prior to the Effective Date and continuing through to July 1, 2021,
or such later date as may be determined by the Plan Administrator as may be necessary or appropriate to allow for any related administrative changes (the “Loan Changeover Date”), a Participant may have no more than three
(3) General Purpose loans outstanding under this Plan at any time of reference, (or two (2) General Purpose Loans and one (1) Residential Loan) at any time of reference, plus any number of Assigned Loans. On and after the Loan
Changeover Date, three (3) loan limit in the prior sentence shall be reduced to a two (2) loan limit plus any number of Assigned Loans. There must be a minimum period of twelve (12) months between each loan under this Plan; provided,
however, that such twelve (12) month limit shall not apply to new loans requested by Participants who are not Qualified COVID Participants within the meaning of Section 6.7 during the period commencing May 22 or as soon as
administratively feasible thereafter and ending December 31, 2020. By way of clarification and not limitation, such twelve (12) month limit shall not apply to any Participant otherwise eligible to elect a loan in accordance with the
provisions of this Section 6.6 during the period May 22 or as soon as administratively feasible thereafter through December 31, 2020. 

(viii) All administrative costs in connection with the loan shall be borne by the Participant.     

(ix) Loans are repaid through payroll deductions and each semi-monthly payroll deduction will be of a
substantially equal amount and, to the extent any portion of loan was attributable to Investment Funds held in a Participant’s Roth Accounts, each such repayment shall be allocated on a reasonably consistent basis between the Participants Roth
Accounts and all other accounts from which the loan proceeds were generated. Notwithstanding the foregoing, except as otherwise provided in subsection (x), in the event that a Participant with an outstanding loan does not receive any compensation
paid through the U.S. payroll in a month, if the amount received through the U.S. payroll is less than the repayment amount which is due for the pay period, or if the Participant is on an unpaid leave of absence, in “pay no benefits”
status, or under similar circumstances as determined in the sole discretion of the BAC where the Participant is not receiving remuneration from an Employer through a payroll system integrated with the Plan, the Participant will be required to make
payments on the loan by a check payable to the Trustee, in accordance with any procedures established by the Plan Manager (“Check Payments”). Effective on and after the later of December 1, 2018 or such later date as may be
specified by the Plan Manager to allow for the reprogramming of the loan repayment soft-ware, a Participant with an outstanding loan who is receiving compensation paid through a non-US payroll, will be
required to make Check Payments or direct debit payments from the Participant’s personal bank account in accordance with procedures established by the Plan Manager (“Direct Debit Payments”).    The BAC or
its delegate shall be empowered to establish a maximum percentage of a Participant’s Eligible Compensation which can be applied towards repayment of loans from the Plan. If such a maximum percentage has been established, and if the Participant
is on a paid leave of absence or short-term disability when the loan is made, the rate of Eligible Compensation used shall be the rate in effect when such absence began. 

  
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 (x) A Participant receiving salary continuation benefits pursuant to a short-term disability policy of an Employer shall be eligible to apply for a loan. A Participant shall not be eligible to apply for a loan after the commencement of benefits under the program of Long-Term Disability
Plan where the Participant is not receiving remuneration through an Employer payroll. A Participant who has an outstanding loan balance with regard to a loan obtained prior to commencing a period of long-term
disability and who subsequently is placed on long-term disability where the Participant is not receiving remuneration through an Employer payroll, may elect to have the loan payments otherwise required by this
Section: (1) made by a Check Payments; (2) made by Direct Debit Payments or (3) suspended for a period equal to the least of: (A) the one (1) year period commencing on the date the
long-term disability began, (B) the duration of the long-term disability absence, or (C) the maximum period permitted under the Plan for that type of loan.
Following any such suspension, the payment schedule will be re-amortized to reflect such suspended payments so as to provide for substantially equal monthly payments over the remaining repayment period and the
Participant will be required to make payments on the loan by a Check Payments or by Direct Debit Payments. 
 (xi) Loan repayments shall be
suspended during a Participant’s military leave of absence and shall resume (or, if applicable, first become payable) at the expiration of such leave of absence, in accordance with Code Section 414(u) or other applicable law. 

(xii) A Participant may prepay a loan in whole at any time. Any such prepayment shall be made by cashier’s check or money order or
Direct Debit Payment payable to the Trustee. Prepayments shall be made without penalty. 
 (xiii) In the event that a Participant is in
default under the terms and conditions of any outstanding loan under this Plan and/or an Assigned Loan, such Participant shall not be eligible to receive a new loan under the Plan until the expiration of one (1) year after any such loan (and
accrued interest thereon) has been repaid in full. 

  
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 (xiv) (1) Except as otherwise provided herein, a loan will become immediately due and
payable in full within ninety (90) days of termination in the event a Participant terminates employment at a time when he has an outstanding loan balance. (2) Notwithstanding the prior sentence, if the Participant is receiving severance
payments under the Mellon Financial Corporation Displacement Program as in effect prior to May 24, 2010 (or any similar program entitling the Participant to Service under the Plan while such severance payments continue), then an outstanding
loan will not become immediately due and payable until ninety (90) days following the end of the Participant’s severance period. (3) Participants may repay the outstanding loan balance in full by cashier’s check, certified check
or by money order or in the form of a Direct Debit Payment. (4) Notwithstanding anything in sentences (1) – (3) of this Section 6.6(b)(xiv) to the contrary, a terminated Participant may prevent his or her loan balance from becoming
immediately due and payable if – prior to the expiration of the ninety (90) day period following the date such loan balance would otherwise become due and payable under sentence (1) or (2), as applicable – the Participants elects
to have the remaining loan payments made by Direct Debit Payments. (5) The loan repayment schedule applicable to any terminated Participant electing the Direct Debit Payment option will be re-amortized to
reflect any loan payments which were not made prior to the Participant’s election so as to provide for substantially equal monthly payments over the remaining repayment period. 

(c) Specific Limitations. The BAC shall not make any loan which would be in contravention of the following, or would otherwise result
in the loan being considered a distribution from the Plan within the meaning of Code Section 72(p): 
 (i) In order to be eligible for
a loan, the Participant must have an Account Balance of at least two thousand dollars ($2,000) at the time the application for a loan is received. 

(ii) The minimum loan amount is one thousand dollars ($1,000). 

(iii) Except as provided in the next sentence, loans must be for a minimum term of twelve (12) months and cannot exceed forty-eight
(48) months in one (1) month increments (“General Purpose Loans”). Notwithstanding the foregoing sentence, loans taken out for the purpose of acquiring any dwelling unit which within a reasonable time (determined as of the
time the loan is made) is to be used as the principal residence of the Participant (“Residential Loans”) may be for a term of from forty-nine (49) months to one hundred and twenty (120) months, in one (1) month
increments. 

  
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 (iv) The amount of any loan will be based upon the Participant’s Account Balance on
the date the application for a loan is received (the “Application Date”). If any increase or decrease in the value of the investment options underlying the Participant’s Account occurs after the Application Date but prior to
the date the loan proceeds are to be distributed, such increase or decrease shall have no effect on the amount of the distribution. 
 The
principal amount of a loan to be made to a Participant, plus the total outstanding balance of all previous loans, plus interest thereon, if applicable (including Assigned Loans) to the Participant from the Plan cannot be more than the least of: 

(1) except as otherwise permitted by the temporary CARES Act Enhancements in Section 6.7, fifty thousand dollars
($50,000), reduced by the excess (if any) of: (A) the highest outstanding balance of loans (including Assigned Loans) from the Plan (and any loans outstanding under any other plan of the Controlled Group) during the twelve (12) month
period ending on the day before the date on which the loan is to be made, over (B) the outstanding balance of loans (including Assigned Loans) from the Plan (and any loans outstanding under any other plan of the Controlled Group) on the date on
which the loan is made; 
 (2) fifty percent (50%) of the Participant’s Account Balance; and 

(3) the portion of the Participant’s Account Balance which is not invested in the Self Directed Account and/or
credited to a separate Prior Employer Spousal Consent Account. A Plan loan will not be made from that portion of the Participant’s Account invested in the Self Directed Account and/or credited to a separate Prior Employer Spousal Consent
Account. 
 (d) Consequences of Default 

(i) Except as otherwise permitted by the temporary CARES Act Enhancements in Section 6.7, if a Participant fails to make payments on the
payment due date in accordance with the terms of a loan under the Plan, he will be in default at the end of the ninety (90) day grace period following the due date of the last payment made by the Participant, and, to the extent such loan is not
attributable to Roth Contributions, In-Plan Roth Conversion amounts and/or Roth Rollover Contributions (without regard to whether the Participant would otherwise be eligible to receive a Qualified
Distribution), the unpaid balance under the Note (including accrued interest) as of the date of the default shall be treated as a taxable distribution in accordance with applicable law. 

  
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 (ii) Notwithstanding the treatment of any default as a distribution for Federal income tax
purposes, if the loan becomes due and payable in full as the result of the Participant’s default, the unpaid balance under the Note (including any accrued but unpaid interest determined from the date of default through the actual date of
distribution of the Note) will not be satisfied from the portion of the Participant’s Account Balance which has been pledged as security under the Note, and such unpaid balance will not be deemed to be distributed until permitted in accordance
with paragraph (1) or (2) below, as applicable. 
 (1) Terminated Participants and Active Participants Over Age
59-1/2. If the Participant has either had a severance from employment or attained age fifty-nine and one-half (59-1/2) at the time the Note becomes due and payable, then that portion of the Participant’s Account Balance against which the loan was made will be deemed to be withdrawn or distributed from the Plan to the
Participant (whether or not the Participant has consented to a distribution, and without regard to whether the Plan generally permits in-service withdrawals) to the extent of the unpaid balance which became
due and payable as a result of the Participant’s default, and the Note will be deemed to be repaid. 
 (2) Active
Participants Under Age 59-1/2. In all other circumstances not described in (1), that portion of the Participant’s Account Balance against which the loan was made will not be deemed to be
withdrawn or distributed from the Plan to the Participant until such time as such Account Balance may otherwise be distributed following the Participant’s retirement, Total and Permanent Disability, or other severance from employment (whether
or not the Participant has consented to a distribution), or if earlier, attainment of age fifty-nine and one-half (59-1/2)
(without regard to whether the Plan generally permits in-service withdrawals), and the Note will be deemed to be repaid. Regardless of the treatment of any default as a distribution for Federal income tax
purposes, interest shall continue to accrue on the unpaid balance of the Note from the date of default until the date of deemed distribution described in this paragraph (2) for purposes of determining the outstanding balance of the loan. 

  
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 (e) Death. To the extent any unpaid principal or interest balance of the loan is
outstanding at the time of a Participant’s death and without regard to whether the loan is in default, that portion of the Participant’s Account Balance against which the loan was made will be deemed to be distributed to the Participant
and the Note repaid immediately following the Participant’s death. Notwithstanding the foregoing, if the Participant’s Beneficiary is his surviving Spouse, an outstanding loan will not be deemed to be distributed to the Participant until
the earlier of sixty (60) days following the date of the Participant’s death or the date the Participant’s Account Balance is distributed to his Beneficiary. The loan may be repaid during this sixty (60) day period. 

6.7 Temporary CARES Act Enhancements  

(a) Purpose. To help mitigate the consequences of the pandemic triggered by the spread of the virus generally known as COVID-19, Congress enacted and the President signed the Coronavirus Aid, Relief, and Economic Security Act on March 27, 2020 (the “CARES Act”). One section of the CARES Act establishes optional
provisions which plan sponsors of Code Section 401(k) plans, such as the Plan, may selectively adopt, including, but not limited to, the options to permit certain eligible participants: (i) to withdraw up to $100,000 from their accounts on
a tax-advantaged basis; (ii) to borrow up to $100,000 without regard to the generally applicable borrowing limitations; (iii) to defer repayments under new and/or outstanding Plan loans for up to one
year and (iv) to defer required minimum distributions otherwise due in 2020; with all such provisions intended to provide participants who are financially impacted by the virus greater access to their 401(k) account balances. Pursuant to the
authorizations and delegations described by the Fourth (CARES Act) amendment to the Plan and as contemplated by the CARES Act, the Corporation, acting through its Chief Executive Officer and its Global Head of Human Resources and as a consequence of
the Global Head of Human Resources adopting this amended and restated Plan document, adopts the enhancements and/or modifications to the Plan for the Plan Year commencing January 1, 2020 hereinafter described in the following paragraphs of this
Section 6.7 (the “CARES Act Enhancements”). 
 (b) Coronavirus-Related Distributions. During the period
commencing January 1, 2020 and ending December 31, 2020 and in addition to any other withdrawals or distributions available under the Plan, each “Qualified COVID Participant”, as hereinafter defined, may, in accordance with such
procedures as may be established by the Plan Administrator, withdraw up to $100,000 as a Coronavirus-related distribution (a, “CRD”) from their vested Accounts under the Plan. The $100,000 CRD limit is an aggregate limit which

  
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applies on a “taxpayer” basis to all qualified plans in which the Participant has an interest. As such, each Participant requesting a CRD shall be asked to self-certify that he / she is
a Qualified COVID Participant and that, after taking into account all other CRDs from the Plan and any other qualified plans in which the Participant has an interest, the amount of any CRD distribution requested from the Plan will not cause the
total amount of all CRDs for the 2020 calendar year to exceed $100,000. Except for the overall maximum limit of $100,000, there is no minimum amount that must be withdrawn nor limit on the number of CRDs that may be requested. CRDs will be
distributed in a single payment, in cash. Participants who elected to take a CRD from their pre-tax accounts will not be subject to tax withholding or early distribution penalties and may elect to have the CRD
included in gross income ratably over the three (3) calendar year period starting January 1, 2020 or elect to have the total amount of all CRDs included in income in calendar year 2020. During the three (3) year period after the CRD,
Eligible Persons as defined in Section 3.8 may elect to contribute, in one or more contributions and over one, two or three calendar years, up to the full amount of all CRDs to this Plan, or to another eligible retirement plan that accepts
rollovers, and such contributions will be eligible to be treated as a timely rollover not subject to tax. 
 (c) Participant Loan
Enhancements. Notwithstanding anything in Section 6.6 to the contrary, any new loan requested by a Qualified COVID Participant during the period commencing March 27, 2020 or as soon as administratively feasible thereafter and ending
September 22, 2020, shall be eligible to elect the following enhancements: 
 (i) the new loan amount, when added to the amount of any
existing loans under the Plan, cannot exceed the lesser of (A) $100,000, less the highest outstanding, aggregate, loan balance in the twelve (12) month period preceding the loan request or one hundred percent (100%) of the vested account
balance under the Plan, excluding any investments in the Self-Directed Account; 
 (ii) the requirement that there be a minimum of a twelve
(12) month period between loan requests shall not apply; 
 (iii) the requirement to make loan repayments that would otherwise be due
during the period commencing March 27 or as soon as administratively feasible thereafter and continuing through December 31, 2020 may be deferred for up to one year in accordance with procedures established by the Plan Administrator. When
loan payments commence: 

  
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(A) the loan repayment amount will be adjusted to reflect the loan payment delay; (B) the adjusted payment schedule will include accrued interest during the deferral period and (C) the
remaining term of the loan will be extended by twelve (12) months; and 
 (iv) except as otherwise provided in this
Section 6.7(c), any such loan shall be subject to the provisions of Section 6.6.     
 (d) Deferral of
Repayments on Existing Loans. Notwithstanding anything in Section 6.6 to the contrary, a Qualified COVID Participant may elect to defer loan repayments on any existing loan that would otherwise be due for the period commencing March 27
or as soon as administratively feasible thereafter and continuing through December 31, 2020 for up to one year in accordance with procedures established by the Plan Administrator. When loan payments commence: (A) the loan repayment amount
will be adjusted to reflect the loan payment delay; (B) the adjusted payment schedule will include accrued interest during the deferral period and (C) the remaining term of the loan will be extended by twelve (12) months. 

(e) Qualified COVID Participant Defined. In order to be eligible to elect one or more of the CARES Act Enhancements to the Plan, the
Participant (hereinafter, a “Qualified COVID Participant”) must be able to self-certify to at least one of the following: 

(i) that the Participant has been diagnosed with the virus
SARS-CoV-2 or with coronavirus disease 2019 (COVID-19) by a test approved by the Centers for Disease Control and Prevention; 

(ii) that the Participant’s Spouse or dependent is diagnosed with such virus or disease by such a test; 

(iv) that the Participant, the Participant’s Spouse or a member of the Participant’s household (that is, someone who shares the
Participant’s principal residence) has experienced adverse financial consequences as a result of: 
  

	 	•	 being quarantined, furloughed or laid off or having work hours reduced due to such virus or disease;

  

	 	•	 being unable to work due to lack of child care due to such virus or disease; 

  
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	 	•	 having pay or self-employment income reduced due to such virus or disease; 

 

	 	•	 having a job offer rescinded or stated date for a job delayed due to such virus or disease; or

  

	 	•	 closing or reducing hours of a business owned or operated by the individual due to such virus or disease; or

  

	 	•	 meeting such other factors as may be issued in Treasury guidance. 

6.8 Qualified Birth or Adoption Distributions    Effective as of the later of the Effective Date or such
later date as the Plan Administrator may determine as necessary or appropriate to enable the record-keeper to administer the provision, Participants who are active employees may, in accordance with
non-discriminatory rules uniformly applied, elect to withdraw up to five thousand dollars ($5,000), or such other amount as may be announced by the Internal Revenue Service in generally applicable guidance, as
a Qualified Birth or Adoption Distribution (a “QBAD”) as hereinafter defined. To the extent each parent is a participant in a plan allowing QBADs, each parent may elect up to the full $5,000 amount. Although the amount withdrawn as a QBAD
by a Participant with respect to any one birth or adoption may not exceed $5,000, a Participant may elect as many separate QBADs as the Participant has births or adoptions. 

For purposes of this Section, a QBAD shall mean an amount (or amounts) not to exceed $5,000 requested within the one (1) year period
commencing on the date of birth of a Participant’s child or the finalization of the legal adoption of an Eligible Adoptee by the Participant. For purposes of this Section, an “Eligible Adoptee” is a child, other than a child of the
Participant’s Spouse, who has either not yet attained age 18 or is physically or mentally incapable of self-support as contemplated by Code Section 72(m)(7). Absent actual knowledge to the contrary, the Plan Manager may accept the
Participant’s certification that any requested withdrawal under this Section satisfies the above-described criteria. 

  
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 QBAD distributions shall be withdrawn from the same sources from which Hardship
distributions may be funded; namely, the Non-Roth and Roth Hardship Amounts described in Sections 6.2(a) and (b). Participants who elected to take a QBAD from their
pre-tax accounts will not be subject to tax withholding or early distribution penalties but will be subject to income tax in the year of the withdrawal. Eligible Persons as defined in Section 3.8 electing
one or more QBADs may subsequently elect to contribute, in one or more contributions made over one or more future calendar years, up to the full amount of all QBADs to this Plan, or to another eligible retirement plan that accepts rollovers, and
such contributions will be eligible to be treated as a timely rollover not subject to tax. 

  
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 ARTICLE VII 

BENEFITS 
 7.1
Events of Distribution. In the event of any Participant’s severance from employment from all members of the Controlled Group on account of a Triggering Event, the BAC or its delegate, in accordance with Section 7.2, shall direct the
Trustee to make distribution of the Participant’s Account Balance to or for the benefit of such Participant. The BAC may require such proof of death and such evidence of the right of any person to receive payment under the provisions of this
section as the BAC deems necessary and advisable. The determination of the BAC concerning the proof of death and the right of any person to receive benefits hereunder shall be conclusive. 

7.2 Distribution. 
 (a)
In General. Except as otherwise provided herein, the determination as to: (i) the dollar amount of a Participant’s interest in his Accrued Benefit (including that portion, if any, attributable to
After-Tax Contributions) and (ii) the dollar amount, if any, of his Rollover Contributions Account and/or Transferred Amounts Account comprising the Participant’s Account Balance shall be made by the
BAC in accordance with Section 4.7 as of the end of the month Valuation Date coincident with or next following the month in which the Appropriate Form requesting distribution is received by a Plan Manager, or such earlier Valuation Date as
determined by the BAC. To the extent such Account Balance is invested in the Employer Stock Fund, the BAC shall also determine the number of shares of BNY Mellon Stock represented by the Participant’s interest in the Employer Stock Fund
(including the number of such shares, if any, attributable to After-Tax Contributions, Roth Contributions (including In-Plan Roth Conversion amounts) and/or Roth
Rollover Contributions). To the extent such Account Balance includes amounts credited to the Participant’s Roth Contribution (including In-Plan Roth Conversion amounts) and/or Roth Rollover Contribution
Accounts (“Roth Accounts”), such determination shall also determine the dollar value of that portion of the aggregate Account Balance attributable to contributions made to such Roth Accounts, exclusive of earnings, and whether or
not the aggregate dollar amounts distributable from such Roth Accounts (contributions plus earnings) constitute a Qualified Distribution. If any increase or decrease in the value of the investment options underlying the Participant’s Account
occurs after the Valuation Date used for distribution purposes but prior to the date of distribution, such increase or decrease shall have no effect on the amount of the distribution. 

  
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 (b) Distribution Following a Triggering Event Other than Death. 

(i) In General. As soon as administratively possible following a Triggering Event other than the Participant’s
death, the BAC or its delegate shall direct the Trustee to make distribution of the Participant’s aggregate Account Balance as determined pursuant to subsection (a) (namely, the sum of the Participant’s Roth Account and/or the portion
of the Participant’s Account not credited to the Participant’s Roth Account (“Non-Roth Accounts”) to such Participant, if (A) the Participant elects that such distribution be
made or (B) except for Participant’s whose Triggering Event was their Total and Permanent Disability, if the combined value of the Roth and Non-Roth Accounts comprising such Account Balance is one
thousand dollars ($1,000) or less. 
 (ii) Effect of a Failure to Consent to a Distribution. If the combined value of
the Roth and Non-Roth Accounts comprising the Participant’s Account Balance is more than one thousand dollars ($1,000) and if such Participant does not consent to a distribution, such a Participant shall
be deemed to have elected to defer commencement of his interest under the Plan attributable to both such Roth and Non-Roth Accounts and may continue to direct the investment of his Account Balance as provided
in Article IV. 
 (c) Distribution Due to the Participant’s Death. If a Participant dies before his Benefit Commencement
Date and the combined value of the Roth and Non-Roth Accounts comprising the Participant’s Account Balance is one thousand dollars ($1,000) or less, then, as soon as administratively possible following
the Participant’s death, the BAC shall direct the Trustee to distribute such Roth Accounts and Non-Roth Accounts comprising the Participant’s Account Balance to the Participant’s Beneficiary
without the necessity of obtaining consent from the Beneficiary. If a Participant dies before his Benefit Commencement Date and the combined value of such Roth and Non-Roth Accounts comprising the
Participant’s Account Balance is more than one thousand dollars ($1,000) and if such Beneficiary does not consent to a distribution of such Roth and Non-Roth Accounts, such Beneficiary may direct the
investment of such Roth and Non-Roth Accounts comprising the Account Balance under the same terms applicable to the Participant as provided in Article IV, 

  
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 (d) Treatment of Distributions of BNY Mellon Stock. The fair market value of the
number of shares of BNY Mellon Stock determined in subsection (a), including by way of clarification and not limitation, the fair market value of such shares acquired with After-Tax Contributions, Roth
Contributions (including In-Plan Roth Conversion amounts) and/or Roth Rollover Contributions, if applicable, shall be determined on the Valuation Date as of which such stock is actually distributed.
Notwithstanding anything in this Section 7.2 to the contrary, for purposes of determining the amounts to be treated as a distribution from the Plan, a Participant’s Account shall be credited with those dividends (in the form declared)
which are declared on such BNY Mellon Stock on or before the Valuation Date used for distribution purposes without regard to when they are actually received by the Trustee; provided, however, that such dividends shall not be distributed to a
Participant until they are actually received by the Trustee. Dividends declared and received after said Valuation Date shall not be considered to constitute a part of any distribution from the Plan. 

7.3 Method of Payment. 

(a) In General. Subject to Section 7.4, distribution of an Account Balance to or on behalf of a Participant shall be made in
either: (i) one (1) lump sum payment in cash or, at the Participant’s election, in cash and whole shares of BNY Mellon Stock; or (ii) in a series of regular quarterly installments in cash as nearly equal in amount as is possible, over
a period of time not exceeding the lesser of (A) the Participant’s life expectancy or the joint life expectancy of the Participant and his designated Beneficiary or (B) ten (10) years. With respect to installment payments made
prior to the later of January 1, 2015 or the effective date of the “Guidance on Allocation of After-Tax Amounts to Rollovers” set forth in IRS Notice
2014-54 (the “IRS Guidance”), each installment payment made with respect to a Participant who has both taxable and non-taxable (e.g., After-Tax and/or Roth Contributions (including In-Plan Roth Conversion amounts) and /or Roth Rollover Contributions) contributions credited to his Accounts will be treated as
taxable and non-taxable in the same proportion which the Participant’s total Account is deemed attributable to taxable and non-taxable amounts in accordance with
the rules of Code Section 72(b) or (d), as applicable, and Treasury Regulation Section 1.402A-1, Q&A-5. With respect to installment payments made on and
after the later of January 1, 2015 and the effective date of the IRS Guidance, allocations of taxable and non-taxable amounts shall be made in accordance with such IRS Guidance. If the Participant’s
Account is being paid in the form of installments pursuant to the provisions of this Section 7.3(a), on the date of the Participant’s death, payments shall continue at a rate no less rapid than that in effect at the Participant’s
death, but the Beneficiary or estate of a Participant who was receiving such installments may elect, on a form furnished by the BAC for this purpose, to receive the remaining Account Balance in a lump sum in cash. 

  
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 (b) Direct Transfer Option. A special election may be made to avoid the imposition of
automatic withholding of Federal income taxes. This special election is to have the Trustee pay all or any portion of the Eligible Rollover Distribution, at the time and in the manner prescribed by the BAC, directly to the Eligible Retirement Plan
specified by the Distributee in a Direct Rollover. 
 As permitted by IRS Notice 2009-68, at least
thirty (30) days, but no more than one hundred eighty (180) days, before a distribution of an Eligible Rollover Distribution hereunder, a Distributee shall be given notice of his ability to elect a Direct Rollover. A distribution may be
made, but shall not be required to be made, less than thirty (30) days after receipt of the notice required by this subsection (b), provided that: (i) the notice clearly informs the Distributee of the right to consider the decision
regarding a Direct Rollover for a period of thirty (30) days after the notice is provided, and (ii) after receiving the notice, the Distributee waives the thirty (30) day period by electing a distribution. 

(c) Definitions. 

(i) Distributee. A Distributee is a Participant, the Participant’s surviving Spouse or a former Spouse who is an
alternate payee under a “qualified domestic relations order” described in Section 12.2. A Distributee shall also include a non-Spouse Beneficiary, but such
non-Spouse Beneficiary shall be subject to the limitations set forth in subsection (c)(iii) below. 

(ii) Eligible Rollover Distribution. An Eligible Rollover Distribution is any distribution of all or any portion of the
balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or
life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee’s designated beneficiary, or for a specific period of ten (10) years or more; any hardship distribution made
pursuant to Section 6.2; distributions of Excess Contract Contributions made pursuant to Article XI; deemed distributions of any defaulted Plan loan made pursuant to Article VI; any distribution to the extent such distribution is
required under Code Section 401(a)(9); and any other distribution excluded under the Code, applicable regulations, or other IRS pronouncements. 

  
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 A portion of a distribution attributable to a Participant’s Account
other than his Roth Contributions (including In-Plan Roth Conversion amounts) and/or Roth Rollover Contributions subaccounts (the Participant’s “Roth Accounts”) shall not fail to be an
Eligible Rollover Distribution merely because it consists of after-tax employee contributions that are not includible in gross income. However, such portion may be transferred to an individual retirement
account or individual retirement annuity described in Code Sections 408(a) or 408(b), respectively, to a qualified defined contribution plan described in Code Sections 401(a) or 403(a), or to a qualified defined benefit plan or an annuity contract
described in Code Section 403(b), which in all cases agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such
distribution which is not so includible. 
 That portion of a distribution consisting of a Participant’s Roth Accounts
shall not fail to be an Eligible Rollover Distribution merely because such Roth Accounts include Roth Contributions (including In-Plan Roth Conversion amounts) and/or Roth Rollover Contributions that are not
includable in gross income. However, such Roth Contributions (including In-Plan Roth Conversion amounts) and/or Roth Rollover Contributions distributed from such Roth Accounts may only be transferred to a Roth
IRA described in Code Section 408A or a designated Roth account described in Code Section 402A(b)(2) under a qualified employee trust described in Code Section 402A(e)(1)(A) and provided that the transfer of such Roth Contributions
(including In-Plan Roth Conversion amounts) and/or Roth Rollover Contributions to such a Roth account (as distinguished from a Roth IRA) may only be effected through a Direct Rollover (i.e., Roth accounts
cannot accept an “indirect” (i.e., 60 day) rollover of non-taxable Roth contributions included in a distribution made directly to the Distributee) and provided, further, that the Plan Manager has
provided the transferee Roth IRA or Roth account: either a statement that the distribution is a Qualified Distribution or the information required by Treasury Regulation Section 1.402A-2 so as to enable
such transferee Roth IRA or Roth account to determine the commencement of the 5-taxable year period, the investment in the contract and to otherwise separately account for the amounts so transferred. 

  
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 (iii) Eligible Retirement Plan. An Eligible Retirement Plan is an
individual retirement account or annuity described in Code Sections 408(a) and 408(b) (collectively, “IRA”) or any of the following plans which accept the Distributee’s Eligible Rollover Distributions: a qualified plan described in
Code Section 401(a), an annuity plan described in Code Section 403(a), an annuity contract described in Code Section 403(b), an eligible deferred compensation plan described in Code Section 457(b) which is maintained by a state,
political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state which agrees to separately account for the amounts transferred to such plan from this Plan, or a Roth IRA described in Code
Section 408A, provided that the requirements of Code Section 408A(c)(3)(B) (as in effect before 2010) are satisfied. Notwithstanding the foregoing, for distributions to a non-Spouse Beneficiary, an
Eligible Retirement Plan shall include an inherited IRA described in Code Section 402(c)(8)(b)(i) or (ii) or, to the extent applicable, a Roth IRA described in Code Section 408A, both of which meet the requirements of Code
Section 402(c)(11) (i.e., an “inherited IRA”) and are established for the purpose of receiving the distribution. 

(iv) Direct Rollover. A Direct Rollover is a payment by the Trustee to the Eligible Retirement Plan specified by the
Distributee. 
 7.4 Medium of Payment. Any distribution made hereunder shall be made in the form of cash, except that (a) the
portion of a Participant’s Account Balance represented by an interest in the Employer Stock Fund shall be distributed in kind in whole shares of BNY Mellon Stock unless the Participant (or Beneficiary, if applicable) elects to receive that
portion of his Account Balance in cash by submitting the Appropriate Form to the BAC in accordance with procedures uniformly established and applied by the BAC; (b) the portion of a Participant’s Account Balance represented by an interest
in the Self-Directed Account shall either be transferred to another Investment Fund (other than the Employer Stock Fund) and distributed in cash or distributed in kind in a direct rollover as elected by the Participant (or his surviving Spouse or Non-Spouse Beneficiary, if applicable) by submitting the Appropriate Form to the BAC in accordance with procedures uniformly established and applied by the BAC; and (c) to the extent that a portion of his
Account Balance is represented by a Note evidencing a loan under the Plan and except as otherwise provided in subsections 6.6(d) and (e) with respect to defaulted loans and distributions in the event of death, respectively, the Participant
shall receive a distribution of his Note(s). Notwithstanding the foregoing, if all or a portion of a Participant’s Account shall be invested in an illiquid asset which cannot be converted into cash for distribution purposes, the distribution to
the Participant shall include the Participant’s proportional interest in such asset. 

  
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 That portion of a Participant’s Account Balance represented by fractional shares of BNY
Mellon Stock shall be distributed in cash. In order to provide cash required to distribute fractional shares, the Trustee shall sell shares equal to the sum of fractional shares of all Participants who are to receive a BNY Mellon Stock distribution
as of a common date, rounded up to the nearer whole share. The market value of the BNY Mellon Stock sold by the Trustee on behalf of Participants entitled to a distribution of fractional shares will be the actual price for which the affected
Participants’ shares of BNY Mellon Stock were sold on the date of the sale without regard to the market value on any other Valuation Date. Notwithstanding the above, the market value of the BNY Mellon Stock sold by the Trustee on behalf of
Participants entitled to a distribution of fractional shares will be the average price of such shares, if multiple trades (at multiple selling prices) are required in order to effectuate the sale. 

Upon distribution in kind, the fair market value of the number of shares of BNY Mellon Stock, other securities, or other property to be
distributed in accordance with this Section 7.4 shall be determined in accordance with Section 7.2(d) or similar procedures. Upon distribution in kind of a Note, the value of any such Note shall be, as of the date of distribution, equal to
the amount of any outstanding unpaid principal plus interest accrued to the date of distribution. Fluctuations in the market value of securities or property subsequent to the date of valuation for distribution purposes shall not in any manner change
the value initially determined pursuant to the preceding sentences. Any gains or losses in the securities or other property shall be borne solely by the Participant (or Beneficiary, if applicable). 

Notwithstanding anything in the preceding paragraphs of this Section 7.4 to the contrary, to the extent a distribution is less than the
Participant’s entire Account under the Plan (i.e., an installment payment), then the cash and/or shares of BNY Mellon Stock to be liquidated to fund each such installment payment will be generated by liquidating some or all of the particular
Investment Funds in which the Participant’s Account is invested in accordance with a nondiscriminatory hierarchy established and uniformly applied by the BAC; provided, however, that any such hierarchy shall not cause the installment to be
taxed in a manner other than that required under Code Sections 402(a) and 72 and applicable guidance issued thereunder, including, but not limited to, the “Guidance on Allocation of After-Tax Amounts to
Rollovers” set forth in IRS Notice 2014-54 (the “IRS Guidance”). 

  
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 7.5 Facility of Payment. In the event any payment due under the terms of the Plan is
to be made to a minor or incompetent person, such payment may be made to or for the benefit of such minor or incompetent person in any of the following ways, as the BAC shall determine: 

(a) directly to such minor or incompetent person, if permitted by law; 

(b) to the legally or statutorily appointed guardian of such minor or incompetent person; or 

(c) to any person or institution maintaining such minor or incompetent person in payment of the cost incident to the maintenance and care of
such person. 
 Payments made pursuant to this Section 7.5 shall operate as a complete discharge of the obligations of the Plan, the
BAC, the BIC, the Plan Manager(s), the Trustee, and the Trust Fund with respect to such payments. 

  
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 ARTICLE VIII 

ADMINISTRATION 

8.1 Adoption of Integrated Fiduciary Governance Structure. Prior to the Combination Date, the Legacy BNY and Mellon Entities satisfied
their duties and responsibilities under Part 4 of Title I of ERISA through fiduciary governance structures which assigned different responsibilities to their respective boards of directors. Following the Combination Date, the Board adopted
a two-level fiduciary governance structure for its pension, savings, employee stock ownership, deferred compensation and all other retirement plans (“Pension Plans”) consisting, inter alia, of
an appointing and monitoring fiduciary and two operating fiduciaries. Upon the consummation of the actions contemplated by its March 10, 2008 resolution (“Governance Resolution”), the Board intended to vest any and all fiduciary
responsibility with respect to the Pension Plans subject to ERISA in the A&M, BAC and BIC as hereinafter described. 
 8.2 Named
Fiduciaries; Administrator. Effective as of March 10, 2008, the A&M shall be responsible for (a) appointing the members of the BIC and the BAC (collectively referred to as the “Operating Fiduciary Committees”),
(b) approving the charters for such Operating Fiduciary Committees, and (c) monitoring the performance of such Operating Fiduciary Committees. Except as hereinafter provided, the BAC shall be responsible for the administration-related named fiduciary responsibilities hereinafter described with respect to the Plan. The BIC shall be responsible for the investment-related named fiduciary
responsibilities hereinafter described with respect to the Plan. Whenever any action is required or permitted to be taken in the administration of the Plan, such action shall be taken by the BAC or the BIC, as applicable, unless either such
committee’s power is expressly limited herein or by operation of law. The A&M, the BIC, and the BAC shall each be a “Named Fiduciary” (as such term is defined in ERISA Section 402(a)(2)) to the extent they exercise
discretionary authority or control with respect to the administration of the Plan (BAC) or the investment of its assets (BIC). In addition, unless otherwise delegated by the BAC, the BAC shall be the Plan “Administrator” (as such term is
defined in ERISA Section 3(16)(A)). The A&M, the BAC and/or the BIC as a whole or any of their members may serve in more than one fiduciary capacity with respect to the Plan. 

  
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 8.3 Allocations and Delegations of Fiduciary Responsibility. 

(a) Allocation of Responsibilities Among Named Fiduciaries. The A&M, the BAC and/or the BIC, as Named Fiduciaries, shall have the
authority to allocate, from time to time, by written instrument, all or any part of their respective responsibilities under the Plan (other than asset management responsibilities) to one or more other Named Fiduciaries (the “Other Named
Fiduciaries”) as either such committee may deem advisable, and in the same manner to revoke any such allocation of responsibilities. Any actions of such Other Named Fiduciaries in the exercise of such allocated responsibilities shall have the
same force and effect for all purposes hereunder as if such action had been taken by the A&M, the BAC and/or the BIC, as applicable. The A&M, the BAC and/or the BIC, as applicable shall be responsible for periodically monitoring the
performance of the Other Named Fiduciaries with respect to the allocated responsibilities but shall not be liable for any acts or omissions of such Other Named Fiduciaries, except as otherwise provided by law. Each Other Named Fiduciary shall report
periodically, but not less often than annually, to the A&M, the BAC and/or the BIC, as applicable, concerning the discharge of the allocated responsibilities. 

(b) Designation of Persons other than Named Fiduciaries to Carry Out Fiduciary Responsibilities. Any Named Fiduciary with respect to
any duty or action under the Plan shall have the authority to designate, from time to time, by written instrument, such person or persons other than Named Fiduciaries (the “Designee”), to carry out all or any part of its responsibilities
under the Plan (other than asset management responsibilities) as it may deem advisable and in the same manner to revoke any such designation. Any action of the Designee in the exercise of such delegated responsibilities shall have the same force and
effect for all purposes hereunder as if such action had been taken by the Named Fiduciary responsible for the designation (the “Designator”). The Designator shall be responsible for periodically monitoring the performance of the Designee
with respect to the delegated responsibilities and shall reevaluate whether to continue such delegation but shall not be liable for any acts or omissions of any such Designee, except as otherwise provided by law. The Designee shall report
periodically to the Designator concerning the discharge of such delegated responsibilities, but not less often than annually, 
 (c)
Appointment of Investment Manager. The BIC may appoint, by written instrument, an investment manager or managers (within the meaning of ERISA Section 3(38)) to manage (including the power to acquire and dispose of) all or any part of the
assets of the Plan as the BIC shall delegate and in the same manner to revoke any such appointment. Any such investment manager shall acknowledge, in writing, that it is a fiduciary with respect to the Plan, and upon acceptance of its
responsibilities and subject to any applicable investment policy, shall have sole discretionary authority over the investment of the assets so delegated. The BIC shall be responsible for reviewing the performance of any investment manager at

  
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regular intervals no less frequently than annually and shall reevaluate whether to continue the appointment of such investment manager but shall not be liable for any acts or omissions of any
such investment manager, except as otherwise provided by law. Each investment manager shall report periodically, but not less often than annually, to the BIC concerning its investment performance with respect to the delegated assets. If an
investment manager or managers have been appointed pursuant to this Section, then no Trustee with respect to this Plan shall be liable for the acts or omissions of any such investment manager or managers, except as otherwise provided by law, or be
under an obligation to invest or otherwise manage any assets of the Plan which are subject to the management of any investment manager. Unless the BIC provides otherwise, the Trustee shall be the investment manager with respect to those assets, if
any, for which the investment responsibilities have not otherwise been specifically delegated to an investment manager in accordance with this Section. 

(d) Designation of Plan Manager(s). The BAC (and/or any other person with fiduciary duties with respect to the Plan) may designate a
person or persons, corporate or otherwise, who may or may not be members of the BAC to be the manager(s) of the Plan. The Plan Manager(s) shall be responsible for the day to day administration of the Plan and shall act solely within the framework of
the policies, interpretations, practices, and procedures established by the BAC and, as such, shall be considered as acting solely in a ministerial capacity. The designation of Plan Manager(s) shall not relieve the BAC (and/or any other person with
fiduciary duties with respect to the Plan) of responsibility for the duties and actions of any such Plan Manager(s). 
 (e) Conformity
with ERISA. The procedures set forth in this Section for the allocation of fiduciary duties among Named Fiduciaries and for the delegation of fiduciary duties to designees or appointees who are not Named Fiduciaries are intended to conform to
the applicable requirements of ERISA Section 405(c) (including the limitations on liability set forth in Section 405(c)) and, to the extent of any ambiguity, should be construed consistent with such Section. 

8.4 Powers and Duties. The A&M, the BAC and/or the BIC shall maintain and keep (or cause to be kept and maintained) such records as
are necessary for the efficient operation of the Plan or as may be required by any applicable law, regulation, or ruling and shall provide for the preparation and filing of such forms, reports, information, and documents as may be required to be
filed with any governmental agency or department and with the Plan’s Participants and/or Beneficiaries. 

  
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 (a) Appointing and Monitoring Committee. Effective as of March 10, 2008, the
A&M shall have all powers necessary to (i) appoint, and if necessary replace, the members of the BIC and the BAC; (ii) approve the charters for the BIC and the BAC; (iii) monitor the performance of the BIC and the BAC and
(iv) perform all those supplemental duties and responsibilities described in “the Bank of New York Mellon Appointing and Monitoring Committee Charter and Summary of Operations adopted by the A&M at its meeting of July 21, 2008, as
amended effective as of December 14, 2015, as may be amended by the A&M from time to time, (the “A&M Charter”). 

(b) Benefits Administration Committee. Except as otherwise provided in subsection (c) or expressly reserved to the A&M, the
BAC shall have all powers necessary to carry out the administration-related provisions of the Plan and to satisfy the requirements of any applicable law or laws. These powers shall include, by way of
illustration and not limitation, the exclusive powers and discretionary authority necessary to: 
 (i) as set forth in more
detail in Section 8.11(e), construe and interpret the Plan; decide all questions of eligibility; decide all questions of fact relating to claims for benefits; and determine the amount, time, manner, method, and mode of payment of any benefits
hereunder; 
 (ii) prescribe procedures to be followed and the Appropriate Forms to be used by Participants and/or other
persons in filing applications or elections; 
 (iii) authorize payment of benefits in accordance with the terms of the Plan;

 (iv) prepare and distribute, in such manner as may be required by law or as the BAC deems appropriate, information
explaining the Plan; provided, however, that no such explanation shall contravene the terms of this Plan or increase the rights of any Participant or Beneficiary or the liabilities of any Employer; 

(v) require from an Employer and Participants such information as shall be necessary for the proper administration of the Plan;

 (vi) appoint and retain individuals to assist in the administration of the Plan, including such legal, clerical,
accounting, and actuarial services as it may require or as may be required by any applicable law or laws; and 

  
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 (vii) perform all functions otherwise imposed upon a plan administrator by
ERISA which are not expressly reserved to the A&M or the BIC, including, but not limited to, those supplemental duties and responsibilities described in “The Bank of New York Mellon Benefits Administration Committee Charter and Summary of
Operations” approved by the A&M on July 21, 2008 and adopted by the BAC on October 16, 2008, as may be amended from time to time, (the “BAC Charter”) not primarily involving the investment of Plan assets. 

Without intending to limit the generality of the foregoing, the BAC shall have the power to amend the Plan, in whole or in part, in order to
comply with applicable law; provided, however, that no such amendment may materially increase the duties and obligations of any Employer without the consent of the affected Employer. Except as provided in the preceding sentence or unless directed by
the Corporation or otherwise required by law, the BAC shall have no power to adopt, amend, or terminate the Plan, nor shall it have the power to select or appoint the Trustee, said powers being exclusively reserved to the Corporation and the BIC,
respectively. To the extent the Corporation acts to adopt, amend or terminate the Plan, and in all other respects, it shall act as sponsor. 

(c) Benefits Investment Committee. The BIC shall have all powers necessary to carry out the
investment-related provisions of the Plan and to satisfy the requirements of any applicable law or laws. These powers shall include, by way of illustration and not limitation, the exclusive powers and
discretionary authority necessary to: 
 (i) establish the funding policy and/or the investment policy for the Plan which
shall be communicated from time to time to the Trustee and any investment managers appointed pursuant to Section 8.3(c); 

(ii) select, monitor, and terminate trustees, investment managers/advisors, insurance companies, or any other fiduciary with
investment responsibilities (“Investment Fiduciaries”); 
 (iii) to the extent not otherwise delegated to an
Investment Fiduciary or Participants (in the case of Participant-directed investments), direct the investment of the assets of the Plan; 

(iv) allocate Plan assets to, transfer assets between and distribute assets from any Investment Fiduciary or investment
vehicle; 

  
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 (v) select and engage independent fiduciaries to make decisions with respect
to BNY Mellon Stock (or other employer securities held under the Plan) and/or actively-managed proprietary investment options under the Plan; 

(vi) approve the fees of all Investment Fiduciaries; 

(vii) establish rules and procedures, which may be retroactive if necessary or appropriate, with respect to the ability of
Participants to direct the investment of their Accounts under Article IV, including, but not limited to, temporary or permanent restrictions or limitations on the transfer of participant accounts between investment options which speculate on short-term market fluctuations and any other trading activities which the BIC, in its sole discretion, determines are inconsistent with the stated policies of the investment option, may possibly have an adverse
effect on the overall return of the affected investment option to the detriment of participants not engaging in such activities, and which are otherwise inconsistent with the retirement objectives of the Plan; and 

(viii) perform all those supplemental duties and responsibilities described in “The Bank of New York Mellon Benefits
Investment Committee Charter and Summary of Operations” approved by the A&M on July 21, 2008, as may be amended from time to time, (the “BIC Charter”) related to the investment of Plan assets; 

8.5 Discharge of Duties. The A&M, the BAC and/or the BIC and their delegates, to the extent they are fiduciaries, shall discharge
their duties with respect to the Plan exclusively in the interests of the Participants and Beneficiaries as a class and shall do so with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in
like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims and in accordance with the documents and instruments governing the Plan in conformity with the terms of the Plan and
applicable law. 
 8.6 Procedures. The A&M, the BAC and the BIC shall be organized and conduct their business with respect to the
Plan in accordance with the organizational and procedural rules set forth in their respective A&M, BAC and BIC Charters. 

  
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 8.7 Establishment of Rules. The A&M, the BAC, and the BIC shall have specific
authority in their sole discretion to construe and interpret the terms of the Plan related to their respective powers and duties and to the extent that the terms of the Plan are incomplete, the A&M, the BAC and the BIC shall have authority to
establish rules or regulations related to their respective powers and duties as they may deem necessary and proper to carry out the intent of the Corporation as to the purposes of the Plan. Any such determination, act, or decision by the A&M,
the BAC, or the BIC shall be final, conclusive, and binding on all parties. 
 8.8 Limitation of Liability. The Corporation, each
Employer, the members of the A&M, the BAC and the BIC, the Plan Manager(s), and any officer, employee, Board member or agent of the Corporation or any Employer shall not incur any liability individually or on behalf of any other individuals or
on behalf of the Corporation or any Employer for any act, or failure to act, made in good faith in relation to the Plan or the funds of the Plan. However, this limitation shall not act to relieve any such individual who performs acts which establish
him a fiduciary from a responsibility or liability for any fiduciary responsibility, obligation, or duty for such acts under Part 4 of Subtitle B of Title I of ERISA. 

8.9 Compensation and Insurance. Members of the A&M, the BAC, and the BIC shall serve without compensation for their services as
such, but shall be reimbursed for any expenses incurred in the performance of their duties as herein provided, such expenses being deemed expenses of the Plan. 

Members of the A&M, BAC and BIC shall be entitled to indemnification with respect to their service as members of the A&M, BAC and BIC,
as applicable, to the fullest extent provided by the certificate of incorporation, by-laws or other constituent or charter documents, or agreements with, the Corporation and its subsidiaries and any policies
and procedures adopted from time to time by the Corporation or its subsidiaries with respect to indemnification. Members of the A&M, BAC and BIC shall also be entitled to the benefits of any insurance maintained from time to time by the
Corporation or its subsidiaries which applied to the A&M, BAC or BIC or service on the A&M, BAC or BIC, as applicable. 
 8.10
Removal and Resignation. Members of the A&M shall serve until their resignation or termination from the Corporation. Any member of the BAC and/or the BIC may resign and the A&M may remove any member of the BAC and/or the BIC in
accordance with the procedures established by their respective BAC and BIC Charters. The A&M, the BAC, and/or the BIC shall remain fully operative pending the filling of any vacancies, the remaining committee members having full authority to
administer the Plan. 

  
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 8.11 Claims Procedure. 

(a) The Plan Manager(s) shall make all initial determinations as to the right of any Participant or Beneficiary to receive a benefit and the
amount of such benefit. The time, manner, and mode of distribution of such benefit shall occur in accordance with the applicable provisions of Article VII herein. 

(b) In the event that a request of any Participant or Beneficiary (hereinafter referred to in this Section 8.11 as the
“Claimant”) for a benefit under the Plan (“Claim”) is partially or completely denied, the Plan Manager(s) shall give written notice of such denial to the Claimant within ninety (90) days after receipt of the Claim (or, if
special circumstances, made known to the Claimant in writing within the original ninety (90) day period, require an extension of time for processing the Claim, within one hundred eighty (180) days after receipt of the Claim; such notice
shall also include the date by which the Plan Manager expects to render a decision). Such notice shall set forth, in a manner calculated to be understood by the Claimant, the specific reason or reasons for the denial (with reference to pertinent
Plan provisions upon which the denial is based); an explanation of additional material or information, if any, necessary for the Claimant to perfect the Claim; a statement of why the material or information is necessary; an explanation of the
Plan’s claims review procedure; the time limits applicable to the claims review procedure and a statement of the Claimant’s right to bring an action under ERISA Section 502 following an adverse benefit determination on review. 

(c) A Claimant whose Claim is partially or completely denied shall have the right to request a full BAC review of the denial by a written
request delivered to the BAC within sixty (60) days of receipt of the written notice of Claim denial. Such written request for review shall set forth the basis (whether legal or factual) upon which the review is requested, including, but not
limited to, pertinent Plan provisions, prior decisions of the BAC and courts of competent jurisdiction, and/or statements of such facts or circumstances in the possession of the person requesting the review to which the Plan Manager(s) may not have
had access. In such review, the Claimant (or the Claimant’s duly authorized representative) shall have the right to review any relevant documents and to submit any issues or comments in writing to the BAC. In addition, the Claimant shall have
the right to submit documents, records, or other information relating to his Claim, and the Claimant shall be provided, upon request and free of charge, reasonable access to and copies of all documents, records, and other information relevant to his
Claim. 
 (d) A decision on review shall be made by the BAC, in its sole discretion and provided, in writing, to the claimant, within sixty
(60) days after the request for review or, in special circumstances (such as the need to hold a hearing), within one hundred twenty (120) days of the request for review (in which case written notice of the delay will be provided to the
claimant during the initial sixty (60) day period and describe the reason for the delay and the date by which the BAC expects to render a final decision). The BAC’s review shall take into account all comments, documents, and records, and
other information submitted by the Claimant, without regard to whether such information was submitted or considered in the initial determination. 

  
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 The decision by the BAC on review will be binding on all parties, will be written in a
manner calculated to be understood by the Claimant, and will contain specific reasons for the decision and specific references to the pertinent Plan provisions on which the decision is based. In addition, the written notice denying the Claim shall
include a statement that the Claimant is entitled to receive, upon request and free of charge, all documents, records, and other information relevant to the Claimant’s Claim and a statement of the Claimant’s right to bring an action under
ERISA Section 502. 
 (e) In acting on any Claim, the Plan Manager(s) and the BAC will act as the trier of facts and thereby shall have
the power to determine facts and to apply the same to the Claim. In making a determination as to any Claim which involves an interpretation of the terms of the Plan, the BAC in the exercise of its discretion shall have the authority to determine the
intent of the Corporation in its establishment of the Plan by a review of the records of the Corporation and by discussions with persons who have direct knowledge of actions of the Plan sponsor. If it is established to the satisfaction of the BAC
that at the time of the establishment of the Plan, the Corporation intended a specific result or interpretation, the BAC shall grant deference to such intention. Except where specific provision for fiduciary review is statutorily authorized, the
decision of the BAC shall be final and conclusive as to facts and interpretation of the terms of the Plan, its operations, and the benefits intended to be provided. 

(f) If a Claimant fails to file a request for review with respect to a particular Claim in the manner and in accordance with time limitations
specified herein, such request for review with respect to such Claim shall be waived and the Claimant shall thereafter be barred from again asserting such Claim. 

(g) For purposes of this Section 8.11, a document, record, or other information is considered “relevant” to a Claim for
benefits if such document, record, or other information (i) was relied upon in making the benefit determination, (ii) was submitted, considered, or generated in the course of making the benefit determination, without regard to whether such
document, record, or other information was relied upon in making the determination, or (iii) demonstrates compliance with the Plan’s review procedures and, if appropriate, that the Plan provisions have been applied consistently with
respect to similarly situated Claimants. 

  
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 8.12 Coordination Between the BAC and the BIC. Whenever in this Plan document or in
any provision of applicable law the BAC and/or the BIC are required to carry out provisions relating to the same subject matter (as determined by such committees), the chairpersons of each such committee shall first refer to the BAC Charter and BIC
Charter, respectively, to determine which committee shall be responsible for the particular matter and thereafter, in the event responsibility for the matter is not therein assigned, shall, in accordance with Section 8.3, consult with each
other and shall develop such rules, regulations, practices, or procedures as they shall deem necessary or appropriate to reduce or eliminate duplication of responsibility. 

  
 95 

 ARTICLE IX 

TRUST AND TRUSTEE 

9.1 Trust. The BIC shall, on behalf of the Plan, enter into a Trust Agreement with the Trustee containing such terms and conditions as
it deems appropriate for the implementation of the Plan. The Trust Agreement shall contain the broadest investment powers and shall specifically contain language to enable the Trustee to invest in any open or
closed-end investment vehicles, any pooled, common, commingled or collective investment funds and any other such funds or investment vehicles established, maintained, managed or advised by the Trustee or an
affiliate of the Trustee or the Corporation for investment of qualified pension and/or profit sharing plans. 
 9.2 Removal or
Resignation. The Trustee may resign by giving sixty (60) days’ written notice to the BIC. The BIC may remove the Trustee at any time by giving thirty (30) days written notice to the Trustee. Upon the resignation or removal
of the Trustee, the BIC shall appoint a successor Trustee, who shall have all of the powers granted to the original Trustee. The Trustee so appointed, or any successor thereto, shall receive all contributions made hereunder, and shall invest the
same in accordance with the instructions of the BIC. The Trustee shall make disbursements from the Trust in accordance with the written directions of the BAC and/or the BIC. 

  
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 ARTICLE X 

AMENDMENT, TERMINATION, AND MERGER 

10.1 Amendment. The Corporation, acting in its own interest as Plan sponsor, by action of the Human Resources and Compensation
Committee of the Board (“HR&CC”) or the delegate of such committee (consistent with the specific authority granted to such delegate), reserves the right for any reason and at any time to amend, in whole or in part, any or all of the
provisions of the Plan, including amendments adjusting Participants’ Accrued Benefits prior to securing, or in order to secure or maintain, the approval of the Plan by the IRS or to comply with any applicable laws and regulations. The adoption
of any such amendment shall be evidenced by the signature of the Chief Executive Officer of the Corporation (or his authorized representative or delegate), by a certification of adoption by the secretary of the HR&CC, or by the signature of the
delegate who has adopted such amendment in accordance with the authority granted to such delegate. A copy of the signed or certified amendment shall be filed with the Plan document and, to the extent required by applicable law, the provisions of
such amendment shall be communicated to affected Participants and Beneficiaries. 
 Such amendments or modifications shall be prospective in
application; provided, however, that amendments or modifications may and shall be retroactive to such date as may be necessary to comply with the requirements of the Code or any applicable law. However, no such amendment shall authorize or permit
any assets of the Plan held in Trust (other than such part as is required to pay taxes and administration expenses) to be used for or diverted to purposes other than for the exclusive benefit of the Participants or their Beneficiaries. 

Unless another effective date is specified in the amendment, any amendment authorized hereunder shall become effective upon execution of a
written instrument which satisfies the requirements set forth in the first paragraph of this Section 10.1, and where necessary, delivery of the executed written instrument to the Trustee and the endorsement of the Trustee of its written consent
thereto, if such consent is required. 
 Notwithstanding anything in this Section 10.1 to the contrary, in order to stream-line the
process of adopting those CARES Act Amendments authorized by the CEO in the Fourth (CARES Act) Amendment to the Plan, the Corporation’s Global Head of HR is authorized: (i) to adopt such formal Plan amendments, as such Global Head of HR
may determine, in her/his sole discretion, may be necessary or appropriate to implement such CARES Act Amendments; and (ii) take any such further actions as may be advisable or appropriate to effectuate the actions contemplated by such Fourth
(CARES Act) Amendment. The adoption of this amended and restated version of the Plan effective as of January 1, 2021 by the Global Head of HR shall be considered evidence of the due adoption by such Global Head of HR of the CARES Act amendments
included herein. 

  
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 10.2 Failure to Qualify. If it should be finally determined that this Plan as amended
and restated does not qualify under Code Section 401(a), or any other statute of similar import, the Plan shall be administered, and the rights of all Participants shall be determined, as if the amended and restated Plan had never been adopted.

 10.3 Discontinuance of Contributions and Termination of the Plan. Any Employer shall have the right at any time, by action of its
board of directors, to discontinue its contributions hereunder and withdraw from further participation in the Plan. The Corporation, as Plan sponsor, shall have the right at any time, by action of the HR&CC to terminate the Plan and the Trust,
by delivering to the Trustee, the BAC, and the BIC written notice of such discontinuance or termination and by submitting any special reports required by law to the Secretary of Labor, the IRS, and any other governmental agencies. Any resolution by
the HR&CC to terminate the Plan, or any resolution of any Employer to discontinue contributions, shall be evidenced by the signature of the Chief Executive Officer of the Corporation, or Employer, as applicable (or their authorized
representatives or delegates), or by a certification by the secretary of the HR&CC or the board of the Employer, as applicable. A copy of any signed or certified resolution shall be filed with the Plan document and, to the extent required by
applicable law, communicated to affected Participants and Beneficiaries. 
 The Plan shall automatically terminate upon all Employers’
ceasing contributions hereunder or upon the dissolution or winding up of the affairs of all Employers. 
 10.4 Vesting and Distribution
Upon Termination by the Corporation. Except as provided in Section 10.2, upon discontinuance of contributions, or the termination or partial termination of the Plan, the rights of all affected Participants to their Accrued Benefits shall,
to the extent not otherwise non-forfeitable, become non-forfeitable and the aggregate Account Balances of all such affected Participants shall be distributed as and when
the BAC shall designate or at such time as the assets of the Trust are required to be distributed by the provisions of this Plan. 

  
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 Upon partial or complete termination, if there shall be any assets in the Trust Fund which
have not been allocated to any Participant, such assets (or that part remaining after the payment of taxes and administration expenses) shall be allocated, to the extent permitted by any applicable law, to each Participant in the same proportion as
the amount credited to the Account of each Participant bears to the total of all amounts credited to the Accounts of all Participants. Any amounts which cannot be allocated because of any applicable limitations shall be returned to the Employer
making the contribution in accordance with applicable law. 
 Notwithstanding anything in this Section to the contrary, the Account Balances
of affected Participants shall not be distributed solely on account of a partial or complete termination where any member of the Controlled Group establishes or maintains another defined contribution plan, other than an employee stock ownership plan
(as defined Code Sections 4975(e) or 409) or a simplified employee pension plan (as defined in Code Section 408(k)). 
 10.5
Merger. In the event of merger or consolidation with, or transfer of assets or liabilities to, any other plan, each Participant shall have an Account Balance having a market value immediately after the merger, consolidation, or transfer (as
if the plan had then terminated) which is equal to or greater than the market value of the Account Balance he would have been entitled to receive immediately before the merger, consolidation, or transfer (as if the Plan had then terminated). Except
in the case of Direct Rollovers made in accordance with Section 7.3, Plan assets may be transferred to another plan only if, pursuant to Treasury Regulation Section 1.401(k)-1(d)(5)(iv), the BAC
reasonably concludes that the accepting plan will continue to apply the distribution restrictions under Code Section 401(k). The provisions of this Section 10.5 shall be construed and applied in accordance with the requirements of Code
Sections 401(a)(12) and 414(l) and the regulations thereunder. 

  
 99 

 ARTICLE XI 

DISTRIBUTION AND ACCRUAL REQUIREMENTS IMPOSED BY THE CODE 

11.1 Additional Limitation on Contributions. 

(a) Generally. This Plan must comply with the requirements of Code Sections 401(a), 401(k), 401(m), 402(g) and 402A, all of which are
applicable to qualified “cash or deferred” profit-sharing plans which also permit so-called “Roth Contributions” and
“In-Plan Roth Conversions”. Solely for purposes of determining whether the nondiscrimination requirements of Code Section 401(k) and 401(m) are satisfied and as permitted by Code Sections 401(k)
and 401(m) and the applicable regulations promulgated thereunder, Contract Contributions, if any, shall be tested under Code Section 401(k). After-tax and Matching Contributions, if any, shall be tested
under Code Section 401(m) in accordance with the rules set forth in this Article XI with respect to Actual Contribution Percentage limitations. If the tests set forth in Code Sections 401(k), 401(m), 402(g) and/or 402A, as applicable, are
eliminated from the Code, the corresponding provisions of this Article XI shall be of no effect. 
 (b) Applicability of ADP
Test. Effective for the period commencing January 1, 2009 and ending December 31, 2020, the Plan was intended to be a safe harbor plan that, pursuant to Code Section 401(k)(12), automatically satisfied the “actual deferral
percentage” test of Code Section 401(k)(3)(A)(ii) as a result of the Matching Contributions described in Section 3.3. On and after January 1, 2021, the Plan is no longer intended to constitute such a safe harbor plan and, as
such, will comply the ADP test. 
 (c) Applicability of ACP Test. Effective for the period commencing January 1, 2009 and ending
December 31, 2020, the Plan was intended to be a safe harbor plan that, pursuant to Code Section 401(m)(11), automatically satisfied the Actual Contribution Percentage test with respect to Matching Contributions described in
Section 3.3. On and after January 1, 2021, the Plan is no longer intended to constitute such a safe harbor plan and, as such, will comply with the ACP test. 

  
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 11.2 Definitions and Rules. For purposes of this Article XI, the following
special definitions and rules shall apply: 
 (a) Actual Contribution Percentage means the average (to the nearest one-hundredth of one percent (.01%)) of the Actual Contribution Ratios (calculated separately to the nearest one-hundredth of one percent (.01%)) for each Employee who is
eligible to have After-Tax Contributions made on his behalf to the Plan. The Actual Contribution Ratio for each Employee is determined by dividing (i) by (ii), where (i) is the total of the After-Tax Contributions made for the current Plan Year on behalf of each such Employee, and where (ii) is such Employee’s Testing Compensation for the portion of such Plan Year in which such individual was
an Employee. With respect to any Plan Year that the Corporation elects to aggregate an Employee’s Matching Contributions for the Plan Year with After-Tax Contributions, such Matching Contributions must,
together with such After-Tax Contributions, satisfy the ACP Test of Section 11.3. If an Employee makes no After-Tax Contributions for the Plan Year (and the
Corporation does not elect to combine Matching Contributions with After-Tax Contributions), the contribution ratio that is to be included in determining the Actual Contribution Percentage for such Employee
shall be zero. 
 For purposes of this Article XI, “Testing Compensation” means Code Section 415 Compensation, as
defined in Section 11.8(c). Such definition of Testing Compensation shall not take into account any such remuneration in excess of $290,000, as adjusted, if necessary, in years after 2021 under Code Section 401(a)(17). 

A Matching Contribution is taken into account for purposes of the Actual Contribution Percentage test only if such Matching Contribution is
allocated to the Eligible Employee’s Matching Contributions Account as of a date within that Plan Year, is actually paid to the Trust Fund no later than twelve (12) months after the close of that Plan Year, and is made on behalf of the
Eligible Employee on account of his Contract Contributions or After-tax Contributions for that Plan Year. 

(b) “Actual Deferral Percentage” means, for a group of Eligible Employees, the average (to the nearest one hundredth of one
percent (.01%)) of the Actual Deferral Ratios (calculated separately to the nearest one hundredth of one percent (.01%)) for each Eligible Employee in the relevant group. The “Actual Deferral Ratio” for each Eligible Employee is
determined by dividing (i) by (ii), where (i) is the total Contract Contributions made for the current Plan Year on behalf of such Eligible Employee and (ii) is such Eligible Employee’s Testing Compensation for such Plan Year. If
an Eligible Employee makes no Contract Contributions for the Plan Year, the deferral ratio that is to be included in determining the Actual Deferral Percentage for such Eligible Employee shall be zero. 

  
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 (c) Special Definitions of Employee. 

(i) “Eligible Highly Compensated Employee” means any Highly Compensated Employee who is an Employee. 

(ii) “Eligible Non-Highly Compensated Employee” means any Non-Highly Compensated Employee who is an Employee during the Plan Year for which the Actual Deferral Percentage Test set forth in 11.3 below and the Actual Contribution Percentage Test set forth in 11.4 below are
applicable. 
 (d) “Excess Contract Contribution Amount” means, an excess deferral, subject to Section 3.2(g) of the
Plan and Code Section 414(v), with respect to any individual Employee, the sum of Contract Contributions and Roth Contributions made on the Employee’s behalf under this Plan, elective deferrals (as defined in Code Section 402(g)(3)
and 402A(e)(2) and the Treasury Regulations thereunder) made on such Employee’s behalf under all other plans of the Controlled Group, and elective deferrals on such Employee’s behalf under a plan maintained by any other employer, which
together total more than $19,500, as adjusted annually, if necessary, after 2021 in accordance with Code Section 402(g)(4)) for any one (1) taxable year of the individual Employee. With respect to any individual Employee making both
Contract Contributions and Roth Contributions in a particular Plan Year and in the absence of any Employee election to the contrary, the Excess Contract Contribution Amount shall be deemed attributable, first, to Contract Contributions made for such
Plan Year and then, if the Excess Contract Contribution Amount is greater than the Employee’s Contract Contributions, to the Employee’s Roth Contributions made for such Plan Year; such that any amounts returned pursuant to section 11.7
shall be deemed attributable to Contract Contributions, first, and only attributable to Roth Contributions to the extent that the Excess Contract Contribution Amount cannot be eliminated by the return of all Contract Contributions made under the
Plan for the applicable Plan Year 
 (e) Aggregation Rules. For purposes of this Article, if the Plan and any other plan which
includes a cash or deferred arrangement are aggregated for purposes of Code Section 410(b) (other than for purposes of the average benefit percentage test), the cash or deferred arrangements in such plans shall be treated as one (1) plan
for purposes of calculating the Actual Deferral Percentage and/or the Actual Contribution Percentage (as defined herein). If any Highly Compensated Employee who is a Participant in this Plan also participates in any other cash or deferred
arrangement of the Controlled Group, for purposes of determining the Actual Deferral Ratio or Actual Contribution Ratio (as defined herein) for such Employee, all such cash or deferred arrangements shall be treated as one (1) cash or deferred
arrangement; provided, however, that any cash or deferred arrangement contained in an employee stock 

  
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ownership plan (“ESOP”) (as described in Code Sections 4975(e) and 409) shall not be aggregated with this Plan pursuant to this subsection and the ESOP portion of the Plan described in
Article XIII shall not be aggregated with the non-ESOP portion of the Plan. Notwithstanding the foregoing, for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage (but
not for purposes of Code Section 410(b)), the Corporation may elect to aggregate the ESOP and non-ESOP portions of the Plan.     

11.3 Actual Deferral Percentage Test. For a Plan Year, the Actual Deferral Percentage for the group of Eligible Highly Compensated
Employees for the Plan Year may not exceed the Maximum Deferral Percentage. 
 The Maximum Deferral Percentage is the greater of:
(1) the Actual Deferral Percentage for the Plan Year for the group of Eligible Non-Highly Compensated Employees in such Plan Year, multiplied by 1.25; and (2) two hundred percent (200%) of the Actual
Deferral Percentage for the Plan Year for the group of Eligible Non-Highly Compensated Employees in such Plan Year; provided, however, that the Actual Deferral Percentage for the group of Eligible Highly
Compensated Employees may not exceed the Actual Deferral Percentage for the group of Eligible Non-Highly Compensated Employees by more than two (2) percentage points. 

The Excess Contribution Percentage is the excess of: (1) the Actual Deferral Percentage for the Plan Year for the group of
Eligible Highly Compensated Employees, over (2) the Maximum Deferral Percentage for the group of Eligible Highly Compensated Employees for the Plan Year, determined by reducing the contributions made on behalf of the Eligible Highly Compensated
Employees in order of their contribution percentages, beginning with the Eligible Highly Compensated Employee with the highest of such percentages, in accordance with the leveling method described in Section 11.7(b). 

11.4 Actual Contribution Percentage Test. For a Plan Year, the Actual Contribution Percentage for the group of Eligible Highly
Compensated Employees for the Plan Year may not exceed the Maximum Contribution Percentage. 
 The Maximum Contribution Percentage is
the greater of: (i) one hundred and twenty-five percent (125%) of the Actual Contribution Percentage for the Plan Year for the group of Eligible Non-Highly
Compensated Employees in such Plan Year; and (ii) two hundred percent (200%) of the Actual Contribution Percentage for the Plan Year for the group of Eligible Non-Highly Compensated Employees in such Plan
Year; provided, however, that the Actual Contribution Percentage for the group of Eligible Highly Compensated Employees may not exceed the Actual Contribution Percentage for the group of Eligible Non-Highly
Compensated Employees by more than two (2) percentage points. 

  
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 The Excess Aggregate Contribution Percentage is the excess of: (i) the Actual
Contribution Percentage for the Plan Year for the group of Eligible Highly Compensated Employees, over (ii) the Maximum Contribution Percentage for the group of Eligible Highly Compensated Employees for the Plan Year, determined by reducing the
contributions made on behalf of the Eligible Highly Compensated Employees in order of their contribution percentages, beginning with the Eligible Highly Compensated Employee with the highest of such percentages, in accordance with the leveling
method described in Section 11.7(b), as if such section applied to Excess Aggregate Contribution Percentages rather than Excess Contribution Percentages. 

11.5 Order of Testing. As and to the extent applicable, the tests set forth in this Article XI shall be carried out in the
following order: 
 (a) Excess Contract Contribution Amount (Section 11.2(d)). 

(b) Actual Deferral Percentage Test (Section 11.3). 

(c) Actual Contribution Percentage Test (Section 11.4) 

(d) Maximum Contributions (Section 11.8). 

11.6 Mid-Year Discretionary Remedial Procedure to Prevent Excess Contract Contribution
Amounts, Excess Contribution Percentages or Excess Aggregate Contribution Percentages. t If the BAC at any time prior to the end of a Plan Year determines that the then-current rate of Contract
Contributions (including Roth Contributions) and/or After-Tax Contributions for any Highly Compensated Employee will lead to an Excess Contract Contribution Amount, an Excess Contribution Percentage and/or an
Excess Aggregate Contribution Percentage for such Plan Year, then the BAC , in its sole discretion and upon notice to each affected Participant, may: 

(a) unilaterally establish or reduce, on a prospective basis, the maximum amount of Contract (including Roth) Contributions and/or After-Tax Contributions, as a percentage of Eligible Compensation, which may be made by Participants in the group (or any subgroup) of Highly Compensated Employees (and thereby also reduce the level of Matching
Contributions to any such group or subgroup); and 

  
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 (b) automatically amend the Appropriate Form of each affected Participant as of the date
specified in such notice, without any further action on the part of such Participant or the Employer, to the extent necessary to conform the Appropriate Form to the new limitation determined by the BAC . 

With respect to any individual Employee making both Contract Contributions and Roth Contributions in a particular Plan Year, the BAC shall first unilaterally
establish or reduce, on a prospective basis, the maximum amount of Contract Contributions (other than Roth Contributions), as a percentage of Eligible Compensation, which may be made by Participants in the group (or any subgroup) of Highly
Compensated Employees before establishing or reducing the maximum amount of Roth Contributions; such that any limits established by this Section 11.6 shall be applied to Contract Contributions, first, and only to Roth Contributions to the
extent that the projected Excess Contract Contribution Amount cannot be eliminated by the return of all Contract Contributions made under the Plan for the applicable Plan Year. 

11.7 Year-End Correction of Excess Contract Contribution Amount, Excess Contribution
Percentages and Excess Aggregate Contribution Percentages. In the event that an Excess Contract Contribution Amount, Excess Contribution Percentage or Excess Aggregate Contribution Percentage exists with respect to any Plan Year, such excess(es)
shall be eliminated by the following method(s): 
 (a) Elimination of Excess Contract Contribution Amounts. In the event that a
Participant has an Excess Contract Contribution Amount, elects to have such excess corrected under this Plan, and notifies the Plan of the amount of such excess to be distributed from this Plan, and, to the extent applicable, the amount to be
treated as attributable to Roth Contributions, the amount of such excess shall be distributed to the Participant, along with any income or loss attributable to such excess (as calculated pursuant to subsection (d) below); provided, however,
that a Participant is deemed to notify the Plan of any Excess Contract Contribution Amounts which arise by taking into account only Contract Contributions, Roth Contributions and other elective deferrals of the Participant pursuant to plans of the
Controlled Group. Subject to Section 11.2(c), any distribution of Contract Contributions and/or Roth Contributions, shall be deemed to be made first from those Contract Contributions and/or Roth Contributions, if any, for which no Matching
Contributions were made. In the event that any matched Contract and/or Roth Contributions are distributed, any corresponding Matching Contributions, together with any income or loss attributable to such Matching Contributions, shall be forfeited and
used to reduce subsequent Matching Contributions. 

  
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 A distribution pursuant to this subsection shall be made on or before April 15 of the
Plan Year following the Plan Year in which the Excess Contract Contribution Amount was credited; provided, however, as permitted in guidance related to the CARES Act issued by the U. S. Treasury Department, such amounts attributable to the 2019 Plan
Year shall be distributed on or before July 15, 2020. Any Excess Contract Contribution Amounts distributed hereunder to an Eligible Highly Compensated Employee will be considered when calculating the Actual Deferral percentage for the group of
Eligible Highly Compensated Employees for the Plan Year in which such Contract Contributions were made; any such distribution to an Eligible Highly Compensated Employee, however, shall be counted towards the amount which must be distributed to such
Eligible Highly Compensated Employer in order to correct an Excess Contribution Percentage. 
 (b) Elimination of Excess Contribution
Percentage. If an Excess Contribution Percentage exists for a particular Plan Year, such excess shall be eliminated by a leveling process, under which the Contract Contributions of the Eligible Highly Compensated with the highest dollar amount
of contributions are reduced proportionately to the extent required to: (i) completely eliminate the Excess Contribution Percentage, or (ii) cause the dollar amount of such Eligible Highly Compensated Employee’s Contract Contributions
to equal the amount of the Eligible Highly Compensated Employees with the next highest Contract Contributions. This process with be repeated until the Excess Contribution Percentage is completely eliminated. 

To the extent that there occurs a reduction in the Contract Contribution applicable to any Eligible Highly Compensated Employee by reason of
this subsection (b), the salary reduction agreement evidenced by such Participant’s Appropriate Form shall be deemed only effective as to the amount which then and thereafter constitutes the adjusted Contract Contribution. 

The elimination of Excess Contribution Percentages described in the previous paragraphs shall be accomplished by distributing to each affected
Eligible Highly Compensated Employee the portion of the excess amount attributable to such Eligible Highly Compensated Employee (after taking into account any distributions required to eliminate any Excess Contract Contribution Amounts) by the end
of the Plan Year following the Plan Year in which the Excess Contribution Percentage was created and, to the extent practicable, within the two and one-half (2 1⁄2) month period following the close of the Plan Year in which the Excess Contribution Percentage was created. All distributions pursuant to this subsection must include the income or loss (if any) attributable to
the returned amount for the Plan Year in which the excess 

  
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occurred, calculated as described in subjection (d) below. In the event that any matched Contract Contributions are distributed, any corresponding Matching Contributions, together with any
income or loss attributable to such Matching Contributions, shall be forfeited and used to reduce subsequent Matching Contributions. Notwithstanding the foregoing in accordance with Code Section 414(v) and the regulations thereunder, no
Contract Contribution shall be distributed to a Highly Compensated Employee to the extent that such amount can be treated as a Catch-Up Contribution under Section 3.2(g). 

(c) Elimination of an Excess Aggregate Contribution Percentage. If the Actual Contribution Percentage for the group of Eligible Highly
Compensated Employees exceeds the Maximum Contribution Percentage for a particular Plan Year, the amount of such Excess Aggregate Contribution Percentage shall be eliminated by a leveling process, under which the
After-Tax Contributions and any Matching Contributions aggregated with such After-Tax Contributions and treated as After-Tax
Contributions for purposes of the Actual Contribution Percentage test of the Eligible Highly Compensated Employee with the highest dollar amount of After-Tax Contributions are reduced to the extent required
to: (i) eliminate the Excess Aggregate Contribution Percentage entirely, or (ii) cause the dollar amount of such Eligible Highly Compensated Employee’s After-Tax Contributions to equal the
dollar amount of the Eligible Highly Compensated Employee with the next highest dollar amount of After-Tax Contributions, such process to be repeated until the Excess Aggregate Percentage is eliminated. Any
distribution of After Tax Contributions shall be deemed to be made first from those After-Tax Contributions, if any, for which no Matching Contributions were made. In the event that any matched After-Tax Contributions are distributed, any corresponding Matching Contributions, together with any income or loss attributable to such Matching Contributions, shall be forfeited and used to reduce subsequent
Matching Contributions. 
 The elimination of Excess Aggregate Contribution Percentages described in the previous paragraph shall be
accomplished by distributing to each affected Eligible Highly Compensated Employee the portion of the excess amount attributable to such Eligible Highly Compensated Employee by the end of the Plan Year following the Plan Year in which the Excess
Aggregate Contribution Percentage was created and, to the extent practicable, within the two and one-half (2-1/2) month period following the close of the Plan Year in
which the Excess Contribution Percentage was created. All distributions pursuant to this subsection must include the income or loss (if any) attributable to the returned amounts for the Plan Year in which the excess occurred calculated as described
in subsection (d) below. 

  
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 (d) Calculation of Income Allocable to Excess Contract Contribution Amounts, Excess
Contract Percentages and Excess Aggregate Contribution Percentages. The income (or loss) allocable to Excess Contract Contribution Amounts, Excess Contribution Percentages and/or Excess Aggregate Contribution Percentages shall be equal to the
income (or loss) actually allocated to such excess for the Plan Year in which the excess occurred and for the gap period (i.e., the period after the close of such Plan Year and prior to the date of distribution), determined in accordance with the
applicable Treasury Regulations. Notwithstanding the foregoing, gap period income with respect to Excess Contribution Percentages, Excess Aggregate Contribution Percentages, and Excess Contract Contribution Amounts shall not be distributed effective
for Plan Years beginning on or after January 1, 2008. 
 (e) Distributions of BNY Mellon Stock. To the extent that a portion of a
distribution made pursuant to this Section is attributable to Contract Contributions, After-Tax Contributions and/or Matching Contributions which were invested in the Employer Stock Fund, such portion will be
distributed in full shares of BNY Mellon Stock in accordance with procedures substantially equivalent to those established in Article VII for distributions of Accrued Benefits. 

11.8 Maximum Contributions. 

(a) The total value of the annual addition (as defined in Code Section 415(c)) for any Participant under this and any other qualified
defined contribution plan of the Employer or a member of the Controlled Group for any Plan Year shall not exceed the maximum annual addition permitted under Code Section 415, taking into account all applicable transition rules and rules
protecting prior Accrued Benefits. 
 (b) In the event that an adjustment to contributions with respect to a Participant is required pursuant
to Code Section 415, and if a Participant is a participant in more than one (1) qualified defined contribution plan of the Employer or any member of the Controlled Group, the limitations shall first be applied to the other defined
contribution plans prior to being applied to this Plan. 
 (c) Code Section 415 Compensation. The limitation year,
as defined in Treasury Regulation Section 1.415(j)-1, shall be the Plan Year. For purposes of this Section and Section 11.10, the term “Code Section 415
Compensation” means: the total remuneration paid, or treated as paid, to a Participant during the Plan Year, including the Participant’s wages, salaries, fees for professional services, and other amounts received for personal services

  
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actually rendered in the course of employment with any member of the Controlled Group to the extent the amounts are includible in gross income but increased by any amounts that would have been
reported on the IRS Form W-2 but for the Participant’s election under Sections 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b) of the Code. Code Section 415 Compensation shall include,
but not by way of limitation, bonuses, overtime payments and commissions; pre-tax contributions or other amounts not included in federal gross income under a “qualified cash or deferred arrangement”
(as defined under Code Section 401(k) and applicable regulations), a “cafeteria plan” (as defined in Code Section 125 and applicable regulations), a “qualified transportation benefit program” (as defined in Code
Section 132(f) and applicable regulations), and an amount paid after a Participant’s severance of employment if it is paid within the time limitations of Treasury Regulation
§ 1.415(c)-2(e)(3)(i) (i.e., by the later of two and one-half months after severance of employment or the end of the Plan Year in which the severance date
occurs) and if it constitutes post-severance payments of regular pay, as described in Treasury Regulation § 1.415(c)-2(e)(3)(ii); and shall exclude deferred compensation, stock options and other
distributions which receive special tax benefits under the Code, and amounts paid as displacement or severance following a Participant’s severance of employment within the meaning of Treasury Regulation
Section 1.415(c)-2(e)(3). If a Participant who is on active military duty receives differential wage payments (as defined in Code Section 3401(h)(2)), such differential wage payments shall be treated
as Code Section 415 Compensation for purposes of the Plan to the extent so required by Code Section 3041(h)(2). 
 Notwithstanding
the foregoing, Code Section 415 Compensation in excess of $290,000 shall be disregarded; provided that such limitation shall be automatically adjusted annually after 2021 (if necessary) in accordance with Code Section 401(a)(17) and the
regulations thereunder. 
 (d) In the event an adjustment to Contributions to this Plan on behalf of a Participant is required under Code
Section 415, such adjustment shall be made in accordance with the Employee Plans Compliance Resolutions System (“EPCRS”) as set forth in Revenue Procedure 2008-50 or any superseding guidance.

 11.9 Mandatory Distributions Required by Law. Notwithstanding any other provision in this Plan to the contrary, distribution of a
Participant’s Account Balance must commence in accordance with the provisions of this Section 11.9. 

  
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 (a) Unless the Participant elects otherwise, distribution to such Participant must commence
no later than sixty (60) days after the close of the Plan Year in which occurs the latest of: 
 (i) the date the
Participant attains Normal Retirement Age; 
 (ii) the tenth (10th) anniversary of the year in which the Participant
commenced participation in the Plan; or 
 (iii) the date on which the Participant terminates employment with the Controlled
Group. 
 For purposes of this subsection (a), a Participant who has not applied for benefits shall be deemed to have elected to defer the
commencement of his benefits. 
 (b) Required Beginning Date for Participants Who Attained Age
70-1/2 Prior to January 1, 1999. Notwithstanding anything to the contrary in subsection (a), with respect to any Participant who attained age seventy and one-half (70-1/2) on or before December 31, 1998, distribution of the Participant’s Account Balance must commence no later than April 1 of the calendar year
following the calendar year in which the Participant attains age seventy and one-half (70-1/2), regardless of whether the Participant is an Employee at such time. 

(c) Required Beginning Date for Participants Who Attain Age 70-1/2 on or After
January 1, 1999 but prior to January 1, 2020. Notwithstanding anything to the contrary in subsection (a), with respect to any Participant who attained age seventy and
one-half (70-1/2) on or after January 1, 1999 but prior to January 1, 2020, distribution of the Participant’s Account Balance must commence no later than
April 1 of the calendar year following the later of: (i) the calendar year in which the Participant attains age seventy and one-half (70-1/2), or (ii) the
calendar year in which he retires. However, if a Participant is a five percent (5%) owner of the Employer (as defined in Code Section 416(i)(1)), distribution of the Participant’s Account Balance must commence no later than April 1 of
the calendar year following the calendar year in which he attains age seventy and one-half (70-1/2), regardless of whether his employment has terminated. 

(d) Required Beginning Date for Participants Who Attain Age 70-1/2 on or After
January 1, 2020. Notwithstanding anything to the contrary in subsection (a), with respect to any Participant who attained age seventy and one-half
(70-1/2) after December 31, 2019, distribution of the Participant’s Account Balance must commence no later than April 1 of the 

  
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calendar year following the later of: (i) the calendar year in which the Participant attains age seventy two (72), or (ii) the calendar year in which he retires. However, if a
Participant is a five percent (5%) owner of the Employer (as defined in Code Section 416(i)(1)), distribution of the Participant’s Account Balance must commence no later than April 1 of the calendar year following the calendar year in
which he attains age seventy two (72) regardless of whether his has terminated. 
 (e) Payment Options for Participants Who are
Required to Commence Distributions Prior to Their Termination of Employment. If payments must commence prior to the Participant’s termination of employment in accordance with subsections (b), (c) or (d) above, the amount of the
distribution to be received each year by the Participant shall, at the Participant’s option, be either: 
 (i) the
minimum required distribution calculated in accordance with Code Section 401(a)(9) and the regulations thereunder as described below in subsection (e), or 

(ii) one hundred percent (100%) of the Participant’s then Account Balance. 

If the Participant fails to make an election with respect to a required distribution under this subsection for any year, the amount of the
distribution shall be the minimum distribution calculated in accordance with Code Section 401(a)(9) and the regulations thereunder. If a Participant is required to receive a distribution under this subsection for any year, and if the
Participant elects to receive a distribution for such year of one hundred percent (100%) of his then Account Balance, all subsequent required yearly distributions pursuant to this Section shall be in an amount equal to one hundred percent (100%) of
the Participant’s then Account Balance. 
 (f) Required Minimum Distribution Requirements. 

(i) General Rules. 

(A) Precedence. The requirements under this subsection (f) will take precedence over any inconsistent provisions
of the Plan to the extent required to meet the requirements of Code Section 401(a)(9). Notwithstanding the foregoing, the provisions under this subsection (f) shall neither serve to expand or contract any distribution options otherwise
available under the terms of the Plan. 

  
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 (B) Beneficiary Designations Made Before January 1,
1984. Notwithstanding the other provisions of the Plan, distributions may be made under a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the
provisions of the Plan that relate to section 242(b)(2) of TEFRA. 
 (C) Requirements of Treasury Regulations
Incorporated. All distributions required under this subsection (f) will be determined and made in accordance with the Treasury Regulations under Code Section 401(a)(9). 

(ii) Time and Manner of Distribution. 

(A) Required Beginning Date. The Participant’s entire interest will be distributed, or begin to be distributed, to
the Participant no later than the Participant’s Required Beginning Date. 
 (B) Death of Participant Before
Distributions Begin. 
 (1) If the Participant dies before distributions begin, the Participant’s entire interest
will be distributed as soon as administratively possible in accordance with Section 7.2(c) but in no event later than December 31 of the calendar year containing the fifth (5th) anniversary of the Participant’s death. For purposes of
determining whether subsection (f)(ii)(B)(2) applies, the Participant’s Designated Beneficiary shall be determined no later than September 30 of the year following the year of the Participant’s death. Distributions made pursuant to
this subsection (f)(ii)(B)(1), unless subsection (f)(ii)(B)(2) applies, shall, regardless of their actual commencement date, be considered to have commenced on the Participant’s Required Beginning Date. 

  
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 (2) If the Participant’s surviving Spouse is the Participant’s
sole Designated Beneficiary and the surviving Spouse dies after the Participant but before distributions to the surviving Spouse begin, this subsection (f)(ii)(B) will apply as if the surviving Spouse were the Participant, without regard to
whether the date of the Spouse’s death has the effect of increasing the five (5) year period measured from the Participant’s date of death. If this subsection (f)(ii)(B)(2) applies, distributions are considered to begin on the
date distributions are required to begin to the surviving Spouse under subsection (f)(ii)(B)(1). 
 (C) Forms of
Distribution. It is the intent that the Plan pay the Participant’s Account in a single sum distribution (possibly consisting of two (2) payments, the first for the minimum required distribution amount not eligible for rollover and the
second for the balance). Notwithstanding the foregoing, to the extent that a Participant is permitted under subsections (b), (c) or (d) to elect to receive only the minimum required distribution until termination of employment, or the minimum
required distribution not eligible for rollover needs to be determined, the minimum required distribution will be determined, and made if applicable, in accordance with subsections (f)(iii) and (f)(iv) below. 

(iii) Required Minimum Distributions During Participant’s Lifetime. 

(A) Amount of Required Minimum Distribution For Each Distribution Calendar Year. During the Participant’s
lifetime, the minimum amount that will be distributed for each Distribution Calendar Year is the lesser of: 
 (1) the
quotient obtained by dividing the Participant’s Account Balance by the distribution period in the Uniform Lifetime Table set forth in section 1.401(a)(9)-9 of the Treasury Regulations, using the
Participant’s age as of the Participant’s birthday in the Distribution Calendar Year; or 

  
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 (2) if the Participant’s sole Designated Beneficiary for the
Distribution Calendar Year is the Participant’s Spouse, the quotient obtained by dividing the Participant’s Account Balance by the number in the Joint and Last Survivor Table set forth in section
1.401(a)(9)-9 of the Treasury Regulations, using the Participant’s and Spouse’s attained ages as of the Participant’s and Spouse’s birthdays in the Distribution Calendar Year. 

(B) Lifetime Required Minimum Distributions Continue Through Year of Participant’s Death. Required minimum
distributions will be determined under this subsection (f)(iii)(B) beginning with the first Distribution Calendar Year and up to and including the Distribution Calendar Year that includes the Participant’s date of death. 

(iv) Required Minimum Distributions After Participant’s Death And After Date Distributions Begin. 

(A) Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin
and there is a Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Account Balance by the
longer of the remaining Life Expectancy of the Participant or the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as follows: 

(1) The Participant’s remaining Life Expectancy is calculated using the age of the Participant in the year of death,
reduced by one (1) for each subsequent year.     
 (2) If the Participant’s surviving Spouse
is the Participant’s sole Designated Beneficiary, the remaining Life Expectancy of the surviving Spouse is calculated for each Distribution Calendar Year after the year of the Participant’s death using the surviving Spouse’s age as of
the Spouse’s birthday in that year. For Distribution Calendar Years after the year of the surviving Spouse’s death, the remaining Life Expectancy of the surviving Spouse is calculated using the age of the surviving Spouse as of the
Spouse’s birthday in the calendar year of the Spouse’s death, reduced by one (1) for each subsequent calendar year. 

  
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 (3) If the Participant’s surviving Spouse is not the
Participant’s sole Designated Beneficiary, the Designated Beneficiary’s remaining Life Expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant’s death, reduced by one (1) for
each subsequent year. 
 (B) No Designated Beneficiary. If the Participant dies on or after the date distributions
begin and there is no Designated Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s
death is the quotient obtained by dividing the Participant’s Account Balance by the Participant’s remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one (1) for each subsequent year.

 (v) Modification of rules of this Section 11.9(f) where the Participant dies after
December 31,2019. Notwithstanding anything in this Section 11.9 to the contrary, if a Participant dies before receiving his entire interest and regardless of whether or not the Participant had begun to receive his
interest, his remaining interest shall be distributed as follows: 
 (A) Where there is no designated beneficiary as of
September 30 of the calendar year following the year of the Participant’s death, the Participant’s entire remaining interest must be distributed no later than December 31 of the calendar year containing the fifth anniversary of
the Participants death. 
 (B) Where there is a Designated Beneficiary – but not an Eligible Designated Beneficiary
– as of September 30 of the calendar year following the year of the Participant’s death, the Participant’s entire remaining interest must be distributed no later than December 31 of the calendar year containing the tenth
anniversary of the Participants death. 
 (C) Where there is an Eligible Designated Beneficiary – but such Eligible
Designated Beneficiary is not the surviving legal spouse of the Participant – as of September 30 of the calendar year following the year of the Participant’s death, the Participant’s entire remaining interest must commence to be
paid no later than December 31 of the calendar year immediately following the calendar year in which the Participant died and over a period not extending beyond such Eligible Designated Beneficiary’s life expectancy. 

  
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 (D) Where the Eligible Designated Beneficiary as of September 30 of
the calendar year following the year of the Participant’s death is the Participant’s surviving Spouse, the Participant’s entire remaining interest must commence to be paid as of the December 31 of the later of : (1) the calendar
year immediately following the calendar year in which the Participant died and (2) the calendar year in which the Participant would have attained age 72 and, in both cases, over a period not extending beyond such surviving legal spouse’s
life expectancy. 
 (E) Notwithstanding anything in this subparagraph (v) to the contrary, if an Eligible Designated
Beneficiary dies after the Participant (a “Deceased Beneficiary”) but before receiving his entire death benefit, the beneficiary or beneficiaries of such Deceased Beneficiary shall not be considered an Eligible Designated Beneficiary for
purposes of applying the rules in this 11.9(f) and the remaining interest of such Deceased Participant shall be distributed by December 31 of the calendar year containing the tenth anniversary of such Deceased Beneficiary’s death. 

The foregoing rules of this Section 11.9(f) are intended to comply with the provisions of Code Section 401(a)(9) as amended by P.L. 116-94, Division O, Setting Every Community Up for Retirement Enhancement, commonly referred to as the “SECURE Act”, and any related interpretive guidance; which Code Section and related guidance are
expressly incorporated herein by this reference. 
 (vi) Definitions Applicable to This Subsection (f). 

(A) Eligible Designated Beneficiary. Any Designated Beneficiary described in (B) who, as of the Participant’s
date of death, is: 
 (1) the surviving Spouse of the Participant; 

  
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 (2) a child of the Participant who has not reached the age of majority
(within the meaning of Code Section 401(a)(9)(F)): 
 (3) Totally and Permanently Disabled; 

(4) chronically ill, within the meaning of Code Section 7702B(c)(2); with the period of inability to perform (without
substantial assistance) at least 2 activities of daily living which forms the basis for such chronic illness having been certified as being an indefinite one which is reasonably expected to be lengthy in nature; or 

(5) an individual not described in (1) through (4) who is not more than ten (10) years younger than the
Participants. 
 Subject to Code Section 401(a)(9)(F), a child described in (2) shall cease to be an Eligible Designated
Beneficiary as of the date the individual reaches majority and any remainder of the portion of such child’s interest under the Plan being distributed in accordance with Plan Section 11.9(f)(v)(C) shall be distributed within ten
(10) years after such date in accordance with Plan Section 11.9(f)(v)(B). 
 (B) “Designated
Beneficiary” means the individual who is designated as the Beneficiary under Section 1.10 of the Plan and is the designated beneficiary under Code Section 401(a)(9) and Treasury Regulation
Section 1.401(a)(9)-4. 
 (C) “Distribution Calendar Year”
means the calendar year for which a minimum distribution is required. For distributions beginning before the Participant’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains
the Participant’s Required Beginning Date. For distributions beginning after the Participant’s death, the first Distribution Calendar Year is the calendar year in which distributions are required to begin under subsection (f)(ii). The
required minimum distribution for the Participant’s first Distribution Calendar Year will be made on or before the Participant’s Required Beginning Date. The required minimum distribution for other Distribution Calendar Years, including
the required minimum distribution for the Distribution Calendar Year in which the Participant’s Required Beginning Date occurs, will be made on or before December 31 of that Distribution Calendar Year. 

  
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 (D) “Life Expectancy” means the Life Expectancy as
computed by use of the Single Life Table in section 1.401(a)(9)-9 of the Treasury Regulations. 

(E) “Participant’s Account Balance” means the Participant’s Account as of the last Valuation Date
in the calendar year immediately preceding the Distribution Calendar Year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the Participant’s Account as of dates in the
valuation calendar year after the Valuation Date and decreased by distributions made in the valuation calendar year after the Valuation Date. The Participant’s Account for the valuation calendar year includes any amounts rolled over or
transferred to the Plan either in the valuation calendar year or in the Distribution Calendar Year if distributed or transferred in the valuation calendar year. For purposes of satisfying the minimum distributions required by subsection 11.9(f) and
except to the extent otherwise required by law, any minimum required distribution shall be distributed, pro rata, from all subaccounts comprising a Participant’s Account without distinction between that portion of a Participant’s
Account attributable to his Roth Contribution Account (including any In-Plan Roth Conversion amounts) and/or a Roth Rollover Contribution Account (collectively, “Roth Accounts”) and that
portion of his Account not attributable to such Roth Accounts 
 (F) “Required Beginning Date” means the
date benefits are required to commence in subsections (b), (c) or (d), whichever is applicable. 
 (g) Special Rule for 2020.
Notwithstanding anything in this Section 11.9 to the contrary, the provisions of Section 11.9(b), (c) (d) and (f) shall not apply for the Plan Year beginning January 1, 2020 and to the initial required minimum distribution for
the Plan Year beginning January 1, 2019 payable on or before April 15, 2020. For purposes of determining the fifth (5th) anniversary of the Participant’s (or surviving
Spouse’s) death, as applicable, in Sections 11.9(f)(ii)(B)(1) and (2), the 2020 Plan Year shall not be included in determining such five (5) year period. 

  
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 11.10 Top-Heavy Provisions. The
following provisions of this Section 11.10 are intended to comply with the provisions of Code Section 416 (and the regulations promulgated thereunder) applicable to plans such as the Plan and shall apply only to those Plan Years, if any,
in which the Plan is a “Top-Heavy Plan” within the meaning of Section 11.10(b). In each other Plan Year, and without the necessity of further action from the BAC or the Board of Directors of the
Corporation, the provisions of this Section 11.10 shall have no force or effect as if they had never been incorporated into the Plan. 

(a) Effect of a Determination of Top-Heaviness. For any Plan Year in which the Plan is a Top-Heavy Plan, each Employer shall provide a minimum contribution (for this purpose, Matching Contributions shall be taken into account) to the Account of each Non-Key
Employee Participant who has not separated from service by the end of the Plan Year and who is not eligible to receive the minimum Top-Heavy benefit under The Bank of New York Mellon Corporation Pension Plan
(or any successor plan) for such Plan Year. The amount of the contribution shall be equal to the lesser of: 
 (i) three
percent (3%) of such Participant’s Code Section 415 Compensation (as defined in Section 11.8(c)); or 
 (ii)
the highest percentage of Code Section 415 Compensation (as defined in Section 11.8(c)) at which contributions (including Contract Contributions) were made for the Plan Year to a Participant who is a Key Employee for such Plan Year. 

(b) Definitions. For purposes of this Section 11.10, the following definitions shall apply: 

“Top-Heavy Plan” - This Plan shall be
a “Top-Heavy Plan” if the present value of the Key Employees’ accrued benefits under all of the Employer’s qualified defined benefit plans and under all of the Employer’s qualified
defined contribution plans is more than sixty percent (60%) of the present value of the accrued benefits of all Employees under such plans as of the Determination Date. 

  
 119 

 For these purposes, the accrued benefits will be determined as of the most recent Valuation
Date which falls within the twelve (12) month period prior to, or which coincides with, the Determination Date. 
 (i)
The accrued benefits shall be determined in accordance with Code Section 416 and regulations issued thereunder and shall include: 

(A) only those accrued benefits under qualified defined benefit plans and qualified defined contribution plans maintained by
the Employer which plans must be aggregated in order to meet the qualification requirements of Code Sections 401(a)(4) and 410, and/or in which a Key Employee is a participant; and 

(B) accrued benefits under one or more of the Employer’s qualified defined benefit plans and qualified defined
contribution plans which are not already required to be included under paragraph (A) above if such plan(s): 
 (1) will
not cause the group of plans to fail to meet the requirements of Code Sections 401(a)(4) and 410, taking into account the plans required to be included under paragraph (A) above; and 

(2) will prevent the present value of the Key Employees’ accrued benefits under the aggregated group of plans from
exceeding sixty percent (60%) of the present value of the accrued benefits of all employees under such plans as of the Determination Date; and 

(C) the aggregate distributions made from such plans during the one (1) year period ending on the Determination Date
(including distributions under a terminated plan, which plan, if it had not been terminated, would have been required to be aggregated with this Plan under paragraph (A) above unless such distribution is included as a rollover contribution
under this Plan or any other plan required to be aggregated with this Plan under paragraph (A) above); notwithstanding the foregoing, in the case of a distribution made for a reason other than severance from employment, death, or disability
this provision shall be applied by substituting “five (5) year period” for “one (1) year period”; 

  
 120 

 (D) the allocation of any contribution due to such defined contribution
plans for the Plan Year ending on the Determination Date but unpaid as of the Determination Date; and: 
 (E) the aggregate
amount of any rollovers or plan-to-plan transfers accepted by the Plan (including, without limitation, Rollover Contributions and Transferred Amounts) initiated by the
Employer or received from a plan established or maintained by any member of the Controlled Group, but only to the extent required under Code Section 416. 

(ii) The accrued benefits shall be determined in accordance with Code Section 416 and regulations issued thereunder and
shall not include: 
 (A) the accrued benefits of any Participant who is not a Key Employee on the Determination Date
but who was a Key Employee for any Plan Year prior to the Determination Date; and 
 (B) the accrued benefits and account
balances of any individual who has not performed services for the Employer maintaining a plan required to be included as provided in paragraph (a)(i)(A) above at any time during the one (1) year period ending on the Determination Date. 

“Determination Date” means the last day of the previous Plan Year. 

“Key Employee” means any employee (including a deceased employee) or former employee (and the beneficiaries of such
employees) who at any time during the Plan Year ending on the Determination Date was any one of the following: 
 (i) An
officer of the Controlled Group having Code Section 415 Compensation, as described in Section 11.8(c), therefrom of more than $185,000, as adjusted after 2021, if necessary, under Code Section 416(i)(1)(A). 

  
 121 

 The maximum number of officers of the Controlled Group who shall be considered to be
officers for these purposes shall be determined as follows: 
  

			
	 Total number of employees 

of the Controlled Group
	  	 Maximum number

of officers

	 30 or fewer
	  	3
	 more than 30 but fewer than 500
	  	10% of all employees
	 500 or more
	  	50

 Where the number of actual officers exceeds the maximum number to be counted as Key Employees,
the officers who shall be considered Key Employees shall be those with the highest annual Plan Year Code Section 415 Compensation during the period which includes the Plan Year ending on the Determination Date. 

(ii) A five percent (5%) owner of the Employer or a member of the Controlled Group. 

(iii) A one percent (1%) owner of the Employer or a member of the Controlled Group having annual Code Section 415
Compensation from the Controlled Group for a Plan Year of more than $150,000. 
 For purposes of paragraphs (ii) and
(iii) above, ownership shall include direct ownership and constructive ownership in accordance with Code Section 318, as modified by Code Section 416(i)(1)(B)(iii). 

“Non-Key Employee” means any employee who is not a Key Employee. 

The determination of who is a Key Employee as provided above shall be made in a manner consistent with the provisions of Code Section 416
and the regulations issued thereunder. 

  
 122 

 ARTICLE XII 

MISCELLANEOUS 

12.1 Participant’s Rights. Neither the establishment of any Trust created hereunder, nor any subsequent modification thereof, nor
the creation of any fund or account, nor the payment of any benefits shall be construed as giving to any particular Participant, or any person whomsoever, any legal or equitable right as against the Corporation (as Plan sponsor), an Employer, the
A&M, the BAC, the BIC, the Plan Manager(s), or the Trustee with regard to his employment, continuation of this Plan, or contributions made hereunder. Notwithstanding the preceding sentence, the Participant’s rights, if any, to have an
Employer contribute Employee Contributions on his behalf shall be governed solely by the terms and conditions of the Appropriate Form evidencing the Participant’s salary reduction election. All Employees of each Employer shall remain subject to
discharge to the same extent as if this Plan had never been executed. 
 12.2 Spendthrift Clause. Except as otherwise provided in
Section 6.6 with respect to Plan loans, the benefits, payments, proceeds, claims, or rights of any Participant herein shall not be subject to any claim of any creditor or any Beneficiary hereof, and, in particular, the same shall not be subject
to attachment or garnishment, or other legal process by any creditor of the Participant or his Beneficiary or persons claiming directly or indirectly through or by reason of the claims of such creditor, including, but not limited to, trustees or
receivers in bankruptcy, nor shall any such Participant or Beneficiary hereunder have any right to alienate, anticipate, commute, pledge, encumber, or assign any of the benefits, payments, or proceeds which he may, at any time, be entitled to
receive, contingently or otherwise, under this Plan. Notwithstanding the preceding sentence, the Plan will recognize (i) any judgment, order, or decree issued, or settlement agreement entered into on or after August 5, 1997, which is the
result of a fiduciary violation (or alleged violation) or conviction of a crime involving the Plan, as described under ERISA Section 206(d)(4) and Code Sections 401(a)(13)(C), and (ii) any “qualified domestic order” within the
meaning of ERISA Section 206(d) and Code Section 414(p). The BAC will follow the procedure set forth in such Sections of the Code and ERISA for determining the qualified status of a domestic relations order and will establish such other
practices and procedures as may be administratively necessary or appropriate to be followed pending a determination as to the qualified status of such order or to comply with such order. 

  
 123 

 If, and to the extent, any portion of a Participant’s Accrued Benefit is payable to a
former Spouse or dependent pursuant to a qualified domestic relations order within the meaning of ERISA Section 206(d) and Code Sections 401(a)(13)(B) and 414(p), the provisions of said order shall govern the distribution thereof. Distribution
of all or a portion of a Participant’s vested benefit to an alternate payee (within the meaning of Code Section 414(p)) under a qualified domestic relations order may begin no earlier than the “earliest retirement age” (within
the meaning of Code Section 414(p)); provided, however, that distribution may commence prior to such earliest retirement age if the alternate payee consents to a distribution by an Appropriate Form at any time after the domestic relations order
is determined to be qualified, with such distribution to be made as soon as administratively practicable following submission of the Appropriate Form. 

Where, because of a qualified domestic relations order, more than one individual is treated as the surviving Spouse of a Participant, the
total benefits to be paid to such surviving spouses as a group shall not exceed the amount that would be paid if there were only one surviving Spouse. 

An individual’s rights as an alternate payee shall not be diminished or otherwise affected by the individual’s being or becoming a
Participant in this Plan. Accordingly, the BAC or its delegate shall separately account for all interests established by qualified domestic relations orders without regard to whether the alternate payee is also a Participant hereunder. 

12.3 Unclaimed Amounts. It shall be the sole duty and responsibility of a retired or terminated Participant or a Beneficiary to keep the
Trustee and his Employer apprised of his whereabouts and most current address. If any benefit to be paid under this Plan cannot be distributed because of the Employer’s and Trustee’s inability, after a reasonable search, to locate a
particular Participant or Beneficiary legally entitled to such benefit, it shall be held by the Trustee in a special holding account. If such amount shall remain unclaimed, such benefit shall be forfeited in accordance with BAC policy, subject to
reinstatement if the Participant or his Beneficiary subsequently submits a claim for the benefit. 
 12.4 Judicial or Administrative
Proceedings. In any action or proceeding involving the Plan or any property constituting any part or all of the Trust, or the administration thereof, the BAC, the BIC, and/or the Trustee shall be the only necessary parties and no Employees,
former Employees, Beneficiaries, or any other persons having or claiming to have an interest in the funds under the Plan shall be entitled to any notice of the proceeding unless required by the court or administrative agency having jurisdiction over
the proceeding or by applicable law. Any final judgment which may be entered in any such action or proceeding shall be binding and conclusive on the parties hereto and all persons having or claiming to have any interest in the Plan. 

  
 124 

 12.5 Power to Interplead. In any action either at law or equity involving a
Participant and his interest under the Plan or its operation, but in which the Trustee, the BAC, and/or the BIC are not directly a party litigant or necessary party, upon court approval or order, the BAC and/or the BIC may direct the Trustee to pay
over to any court or those persons designated by the court all sums or property subject to such litigation. Upon such payment, neither the Trustee nor the BAC and/or the BIC shall be liable or accountable for such payment. 

12.6 Limitation of Benefit. All benefits hereunder shall be payable solely from the assets of the Trust and no Employer assumes any
other liability or responsibility therefor or guarantees such benefits. The liability and responsibility of an Employer are strictly limited to the provisions of this Plan. 

12.7 Construction of Plan. The Plan shall be construed and administered according to the laws of the State of New York (including its
statute of limitations provisions, but excluding its choice of law provisions) and any federal laws which may from time to time be applicable. Whenever any words are used herein in the masculine gender, they shall be construed as though they were
also used in the feminine gender in all cases where they would so apply, and whenever any words are used in the singular form, they shall be construed as though they were also used in the plural form in all cases where they would so apply. Headings
of Articles and Sections of this instrument are inserted for convenience of reference only and, as such, they constitute no part of this Plan and are not to be considered in the construction hereof. 

12.8 Plan Expenses. All expenses incurred by any person, legal or natural, with respect to the establishment, administration, or
termination of this Plan and its related Trust shall represent a charge upon the Trust and shall be paid from the assets in the Trust to the extent not otherwise paid directly by the Corporation. 

12.9 Liability of Officers and Directors. Subject to the provisions of ERISA, no past, present, or future officer or director of the
Employer shall be personally liable to the Plan, its Trust, or to any Participant, Beneficiary, or other person under any provision of the Plan, Trust Agreement, or insurance or annuity contract. 

  
 125 

 12.10 Rights of Reemployed Veterans. Notwithstanding any provision of this Plan to
the contrary, contributions, benefits, and service credit with respect to qualified military service will be provided in accordance with Code Section 414(u). Effective January 1, 2007, if a Participant dies while performing qualified
military service (as defined in Code Section 414(u)), the Participant’s survivors are entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan that would
have been payable if the Participant had resumed employment and then terminated employment because of death. 
 12.11 Correction of
Errors. Notwithstanding anything to the contrary contained in the Plan, the Corporation and the BAC are expressly empowered to correct any errors made in calculating the amount of a Participant’s Accrued Benefit or the determination and
allocation of contributions and/or gains and losses with respect to a particular Plan Year or Plan Years. Any such correction may be made retroactively, except that no such correction shall require return of part or all of a distribution previously
made with respect to a Participant or Beneficiary, but future payments may be reduced until any payment is recouped. To the extent an error is made because of information incorrectly submitted by or on behalf of the Participant or Beneficiary, any
correction that would increase the amount payable from the Plan shall be made prospectively only and shall not apply to correct any payments previously made, except as otherwise specifically required by applicable law. 

In addition to the foregoing, the Corporation and the BAC are also expressly empowered to take action to implement any correction to the Plan
that they determine is appropriate in connection with any correction program of any government agency or under applicable law. Such corrective action can include, but shall not be limited to, forfeitures, adjustments to benefits, recoupment of
payments, and additional contributions. 

  
 126 

 ARTICLE XIII 

EMPLOYEE STOCK OWNERSHIP PLAN 

13.1 Establishment of ESOP. Notwithstanding any contrary Plan provision, a portion of the Plan shall be designated as an employee stock
ownership plan (“ESOP”). The ESOP component of the Plan shall consist of all contributions and earnings under the Plan that are invested in the Employer Stock Fund. Such contributions shall be reflected in an “ESOP Account” that
will be established and maintained by the BAC in the name of each Participant. The ESOP component of the Plan is designed to invest primarily in qualifying employer securities and is intended to meet the requirements of Code Sections 409 and
4975(e)(7). The ESOP constitutes a stock bonus plan as defined in Treasury Regulation Section 1.401-1(b)(1)(iii). For purposes of this Article XIII, “qualifying employer securities” shall mean
common stock issued by the employer (or by a corporation which is a member of the same controlled group) which is readily tradable on an established securities market. 

13.2 ESOP Requirements. Unless specifically provided otherwise, the ESOP component of the Plan shall be subject to all other Plan
provisions, including, by way of illustration and not limitation, those sections referenced below. 
 (a) ESOP
Diversification. Each Participant retains the right to direct the investment of his Account, including his ESOP Account, in accordance with Article IV. 

(b) Voting of ESOP Stock. Each Participant shall be entitled to direct the Trustee to vote all shares of stock in his
ESOP Account in accordance with Section 5.2. 
 (c) Distributions of ESOP Stock. Distribution of a
Participant’s ESOP Account will be made in accordance with Section 7.3. Such distribution shall be made in kind in whole shares of BNY Mellon Stock or in cash if elected by the Participant in accordance with Section 7.4. 

(d) Commencement of ESOP Distributions. Subject to Section 7.2, if a Participant or Beneficiary elects,
distribution of a Participant’s ESOP Account will commence not later than one (1) year after the close of the Plan Year: 

  
 127 

 (i) in which the Participant terminates employment with the Controlled Group
by reason of attainment of Normal Retirement Age, disability or death; or 
 (ii) which is the fifth Plan Year following the
Plan Year the Participant otherwise terminates employment with the Controlled Group, unless the Participant is reemployed by a member of the Controlled Group before distribution is required to begin. 

13.3 Vesting. The vesting requirements under Article III shall apply to the contributions allocated to a Participant’s ESOP
Account. 
 13.4 Payment of Dividends. In accordance with rules established by the BAC and uniformly applied, any cash dividends paid
with respect to BNY Mellon Stock in the ESOP as of the record date shall be paid to the Plan and reinvested in BNY Mellon Stock, unless the Participant (or his Beneficiary) affirmatively elects to have such dividends paid to him. Any such election
by the Participant (or his Beneficiary) shall apply only to those shares of BNY Mellon Stock in which he is vested and shall apply to future cash dividends until otherwise elected by the Participant (or his Beneficiary). The payment of ESOP
dividends under this Section is intended to comply with Code Section 404(k) and shall be interpreted accordingly. Notwithstanding the foregoing, dividends paid on BNY Mellon Stock that is subject to a hardship withdrawal made pursuant to
Section 6.2 shall be distributed to the Participant in cash. 

  
 128 

 THE BANK OF NEW YORK MELLON CORPORATION 401(K) SAVINGS PLAN 

(AS AMENDED AND RESTATED EFFECTIVE AS OF JANUARY 1, 2021) 

ARTICLE XIV 

EXECUTION 
 IN
WITNESS WHEREOF, the Corporation, intending to be legally bound, has caused this amended and restated plan document to be executed and attested to by its duly authorized officers or representatives this 17th day of December, 2020. 
  

									
	WITNESS	 		 	THE BANK OF NEW YORK MELLON CORPORATION
					
	By:	 	 /s/ Bennett Josselsohn
	 		 	By:	 	 /s/ Jolen Anderson

		 	Bennett Josselsohn	 		 		 	Jolen Anderson
		 	Senior Managing Counsel	 	        	 		 	Global Head of Human Resources

  
 129 

 APPENDIX A 

PROVISIONS CONCERNING FORMER PARTICIPANTS 

IN THE BUCK SAVINGS AND PROFIT SHARING PLAN 

This Appendix A describes special provisions of the Plan that apply to Participants who were participants in the Buck Savings and Profit Sharing Plan (the
“Buck Plan”) on October 31, 2001, the date on which the Buck Plan was merged with and into the Plan, and on whose behalf assets were transferred to the Plan. Such Participants are referred to in this Appendix A as “Buck
Participants”. 
 A.1. In-Service Withdrawals. Notwithstanding anything in the Plan to
the contrary, upon written notice to the BAC in the manner prescribed by the BAC, Buck Participants may take in-service withdrawals of their Accounts transferred from the Buck Plan to this Plan as follows:

 (a) For Buck Participants that have not reached age fifty-nine and one-half (59-1/2), investments will be liquidated pro-rata, according to the following source hierarchy: Employee After-Tax Contributions
(without earnings), Post ‘86 After-Tax Contributions and earnings, earnings on Employee After-Tax Contributions, Prior Plan Match, vested March 31, 2000 Plan
Match, and then vested December 31, 2000 Plan Match. 

  
 A-1 

 APPENDIX B 

PROVISIONS CONCERNING FORMER PARTICIPANTS 

IN THE MIS RETIREMENT SAVINGS PLAN 
 This
Appendix B describes special provisions of the Plan that apply to Participants who were participants in the MIS Retirement Savings Plan (the “MIS Plan”) on April 30, 2004, the date on which the MIS Plan was merged with and into the
Plan, and on whose behalf assets were transferred to the Plan. Such Participants are referred to in this Appendix B as “MIS Participants”. 

B.1. In-Service Withdrawals. Notwithstanding anything in the Plan to the contrary, upon written
advance notice given to the BAC in the manner prescribed by the BAC , an MIS Participant may take the following in-service withdrawals from the portion of his Account that was transferred from the MIS Plan to
this Plan on April 30, 2004: 
 (a) Any matching contributions made prior to March 31, 1988, by the Manufacturers’ Hanover
Corporation, may be withdrawn at any time. 

  
 B-1 

 APPENDIX C 

LEGACY MELLON ENTITIES 

(As of July 1, 2007) 
 Legacy Mellon
Entities as of July 1, 2007 are limited to the following entities and their eighty percent (80%) or more subsidiary corporations and/or partnerships, as follows: 
  

			
	Mellon Financial Corporation	  	Mellon Bank, N.A.
		
	Mellon Trust of New England, National Association	  	The Boston Company, Inc.
		
	Mellon United National Bank	  	Mellon Australia Limited
		
	MBC Investments Corporation	  	Dreyfus Service Organization, Inc.
		
	The Dreyfus Corporation	  	Mellon Insurance Agency, Inc.
		
	MAM (DE) Trust	  	Mellon EFT Services Corporation
		
	Mellon Investor Services Holdings LLC	  	Mellon Holdings LLC
		
	Mellon Financial Markets, LLC	  	MIPA, LLC
		
	Mellon Funding Corporation	  	Mellon Bank Community Development Corporation
		
	Mellon Securities Trust Company	  	Mellon 1st Business Bank, National Association
		
	TBC General Partner, LLC	  	Cleartran

 LEGACY MELLON ENTITIES 

(As of July 1, 2008) 
 Legacy Mellon
Entities as of July 1, 2008 are limited to the following subsidiaries of The Bank of New York Mellon Corporation and their eighty percent (80%) or more subsidiary corporations and/or partnerships, as follows: 

 

			
	Mellon Financial Corporation	  	Mellon Bank, N.A.
		
	Mellon Trust of New England, National Association	  	TBC Holding, Inc.
		
	Mellon United National Bank	  	Mellon Australia Limited
		
	MBC Investments Corporation	  	Dreyfus Service Organization, Inc.

  
 C-1 

			
	The Dreyfus Corporation	  	Mellon Insurance Agency, Inc.
		
	MAM (DE) Trust	  	Mellon EFT Services Corporation
		
	Mellon Investor Services Holdings LLC	  	Mellon Holdings LLC
		
	Mellon Financial Markets, LLC	  	MIPA, LLC
		
	Mellon Funding Corporation	  	Mellon Bank Community Development Corporation
	
	Mellon Securities Trust Company

  
 C-2 

 APPENDIX D 

PROVISIONS CONCERNING FORMER PARTICIPANTS 

IN THE EMPLOYEE SAVINGS & INVESTMENT PLAN 

OF THE BANK OF NEW YORK COMPANY, INC. 

This Appendix D describes special provisions of the Plan that apply to Participants who were participants in the Employee Savings & Investment
Plan of The Bank of New York Company, Inc. (the “Legacy BNY Savings Plan”) on the applicable Merger Date and on whose behalf assets were transferred to the Plan. 

D.1. Merger. The portion of the Legacy BNY Savings Plan with respect to which there is a Merger Date shall, as of such Merger Date, be
merged with and into the Mellon 401(k) Retirement Savings Plan, which on and after April 1, 2009 shall be renamed “The Bank of New York Mellon Corporation 401(k) Savings Plan” (the “Plan” to which this Appendix D relates)
and the Accounts of each Participant in the Legacy BNY Savings Plan shall be merged with and into the Plan as of the applicable Merger Date. On and after the applicable Merger Date, each Participant in the Legacy BNY Savings Plan shall have an
Account Balance under the Plan having a market value immediately after the applicable Merger Date which is at least equal to the market value of the Account Balance he would have been entitled to receive immediately prior to the applicable Merger
Date (assuming that the Legacy BNY Savings Plan had then terminated), in accordance with Code Section 414(l) and in all cases preserving all benefits, rights and features associated with each such Participant’s accrued benefit under the
terms of the Legacy BNY Savings Plan required to be preserved under Code Section 411(d)(6) and applicable guidance. 
 Effective as of
the Merger Date set forth in Section 1.46(ii), the Legacy BNY Savings Plan shall cease to exist as a separate plan. 
 D.2.
Preservation of Participant Elections. All beneficiary designation forms, spousal consent forms and other administrative forms (“Forms”) filed by Participants or others under the Legacy BNY Savings Plan shall continue in full force
and effect on and after the applicable Merger Date. Investment elections under the Legacy BNY Savings Plan in effect immediately prior to the applicable Merger Date shall be followed, except that they shall be administered as an election to invest
in the mapped corresponding fund under the Plan as determined by the BIC. New Forms must be executed in accordance with the terms of the Plan. 

  
 D-1 

 D.3. The portion of a Transferred Amounts Account consisting of an outstanding loan issued
in accordance with the provisions of the Legacy BNY Savings Plan shall continue to be administered in accordance with the terms of the loan; provided, however, that, to the extent permissible under existing law and the terms of the loan, (i) if
the Participant is receiving severance payments under a Corporation-sponsored severance program, then such outstanding loan shall not become immediately due and payable until the cessation of such severance payments, and (ii) the provisions of
Section 6.6(b)(ix) of the Plan, as amended, shall apply. 

  
 D-2 

 APPENDIX E 

PROVISIONS CONCERNING FORMER PARTICIPANTS 

IN THE PNC GLOBAL INVESTMENT SERVICING INC. RETIREMENT SAVINGS PLAN 

This Appendix E describes special provisions of The Bank of New York Mellon Corporation 401(k) Savings Plan (the “Plan” to which this
Appendix E relates) that apply to Participants who were participants in the PNC Global Investment Servicing Inc. Retirement Savings Plan (the “GIS Plan”) on the GIS Merger Date and on whose behalf assets were transferred to the
Plan. Capitalized terms not otherwise defined in this Appendix E shall have the meanings ascribed to them in the Plan. 
 E1. Merger.
The GIS Plan shall be merged with and into Plan and the accounts of each participant in the GIS Plan (“GIS Transferred Amounts Account”) shall be merged with and into the Plan as of the GIS Merger Date. On and after the GIS Merger
Date, each participant in the GIS Plan shall become a Transferee Participant and have an Account Balance under the Plan having a market value immediately after the GIS Merger Date which is at least equal to the market value of the Account Balance he
would have been entitled to receive immediately prior to the GIS Merger Date (assuming that the GIS Plan had then terminated), in accordance with Code Section 414(l) and in all cases preserving all benefits, rights and features associated with
each such Transferee Participant’s accrued benefit under the terms of the GIS Plan required to be preserved under Code Section 411(d)(6) and applicable guidance. 

Effective as of the GIS Merger Date, the GIS Plan shall cease to exist as a separate plan. 

E2. Vesting. Notwithstanding Section 3.6(b) of the Plan – providing for full vesting of Transferred Amounts Accounts –
that portion of a Transferee Participant’s GIS Transferred Amounts Account attributable to Employer Matching Contributions (as defined in the GIS Plan) shall continue to vest in accordance with the following schedule which was in effect under
the GIS Plan on the day before the GIS Merger Date: 
  

			
	 Years of Service
	  	 Nonforfeitable Percentage

	 Less than 2
	  	    0%
	 2
	  	  25%
	 3
	  	  50%
	 4
	  	  75%
	 5 or more
	  	100%

  
 E-1 

 For purposes of applying the foregoing vesting schedule, a Transferee Participant’s
Years of Service shall equal the sum of such Transferee Participant’s Years of Vesting Service under the GIS Plan as of the day before the GIS Merger Date and such Transferee Participant’s Service as determined under the Plan (hereinafter,
such Transferee Participant’s “Combined Service”). 
 If a Transferee Participant with a GIS Transferred Amounts
Account (or a participant in the GIS Plan in effect prior to the GIS Merger Date (“Former GIS Participant”) severed from service and received a distribution of the vested portion of the participant’s account but is subsequently
re-employed by an Employer before incurring five consecutive one year Breaks in Service, any amount forfeited by the Transferee Participant or Former GIS Participant shall be reinstated. 

Notwithstanding the foregoing, a Transferee Participant shall be fully vested in that portion of his GIS Transferred Amounts Account
attributable to dividends paid on Corporation Stock (as defined in the GIS Plan) and shall become fully vested in that portion of his GIS Transferred Amounts Account attributable to Employer Matching Contributions upon such Transferee
Participant’s death, Total and Permanent Disability or attainment of age 65. 
 E.3 Preservation of Participant Administrative
Elections. All beneficiary designation forms, spousal consent forms, so-called “TEFRA 242(b)(2) elections”, payroll withholding elections related to any plan loans and other administrative forms
(“Forms”) filed by Transferee Participants or others under the GIS Plan shall continue in full force and effect on and after the GIS Merger Date. New Forms must be executed in accordance with the terms of the Plan. 

E.4 Preservation of Participant Investment Elections. As contemplated by Section 4.3(a) of the Plan, all investment elections
(including any default elections) to particular investment options under the GIS Plan applicable to existing investments and/or new contributions under such GIS Plan shall be treated as elections to invest such existing investments and/or new
contributions in those investment funds available under this Plan which have been determined by the BIC, in its sole discretion, in accordance with ERISA Section 404(c)(4), to be similar to the investment options under the GIS Plan in which the
participants existing and/or new contributions were invested and, if none, as an election to invest in a Qualified Default Investment Alternative. New investment elections must be executed in accordance with the terms of the Plan. 

  
 E-2 

 E.5 Preservation of Records of Net Unrealized Appreciation. Notwithstanding anything
in this Appendix E to the contrary, the BAC shall cause the records of net unrealized appreciation, within the meaning of Code Section 402(e), if any, related to Transferee Participant investments in “securities of the employer
corporation” under the GIS Plan which were liquidated and re-invested in a money market fund immediately prior to the GIS Merger Date (the “Sales Proceeds”) to be preserved and, to the extent
permissible under the Code, provide Transferee Participants with the opportunity to re-invest such Sales Proceeds directly from such money market fund in “securities of the employer corporation”
available under this Plan within the 90 day period following the June 30, 2010 sale of such securities by the prior trustee for the GIS Plan and take such actions within its authority to facilitate the preservation of such net unrealized
appreciation. By way of clarification and not limitation, no such records of net unrealized appreciation shall be maintained with respect to any such Sales Proceeds which were either affirmatively invested by the Participant in any investment option
other than “securities of the employer corporation” available under the Plan or deemed invested in the Plan’s Qualified Default Investment Option upon the expiration of such 90 day period. 

E.6 Loans. The portion of a Transferred Amounts Account consisting of an outstanding loan issued in accordance with the provisions of
the GIS Plan shall continue to be administered in accordance with the terms of the loan; provided, however, that, to the extent permissible under existing law and the terms of the loan, (i) the amortization schedule shall be adjusted to reflect
any differences in the payroll frequency; provided, however, that no such adjustments may extend the term of the loan beyond the original due date; (ii) if the Participant is receiving severance payments under a Corporation-sponsored severance
program, then such outstanding loan shall not become immediately due and payable until the cessation of such severance payments, and (iii) the provisions of Section 6.6(b)(ix) of the Plan shall apply. 

E.7 In-Service Withdrawals. To the extent not otherwise permitted by the withdrawal provisions
of Sections 6.3 and 6.4, a Transferee Participant may elect to withdraw that portion of his GIS Transferred Amounts Account attributable to his Prior Employee After-Tax Contribution Account and Prior Profit
Sharing Account held under the GIS Plan (or a prior plan) and the Plan for at least two years (based on such Transferee Participant’s Combined Service as defined in E.2); provided, however that such two year holding requirement shall not apply
if such amounts were not matched by an employer. Any such requests for withdrawals shall be made in accordance with procedures established by the BAC. 

  
 E-3 

 E.8 Preservation of Prior Vesting Schedule Preserved in the Merger of the Albridge
Solutions 401(k) Plan (the “Albridge Plan”). The vesting schedule that applied under the Albridge Plan prior to the November 8, 2008 merger of the Albridge Plan with and into the GIS Plan shall continue to apply to amounts accrued
under the Albridge Plan prior to such merger. 
 E.9 Preservation of Separate Accounting for Certain Roth Contributions. . On and
after April 1, 2014 when a Roth contribution feature described in Code Section 402A was added to the Plan to which this Appendix E relates and as contemplated by Section 3.6, Transferred Amounts, those certain designated Roth
contributions described in Code Section 402A, if any, which were rolled over to the GIS Plan prior to the GIS Merger Date (“GIS Roth Amounts”) shall be combined with the Participant’s Roth Contribution Account under the Plan and,
except as otherwise required by Code Section 402A and applicable guidance, no further separate accounting / sub-accounting of such GIS Roth Amounts shall be maintained and such GIS Roth Amounts shall be
subject to the same separate accounting, withdrawal, distribution and other rules applicable to Roth Contributions under the Plan. 

  
 E-4 

 APPENDIX F 

PROVISIONS CONCERNING FORMER PARTICIPANTS 

IN THE RETIREMENT SAVINGS PLAN OF BNY SECURITIES GROUP 

This Appendix F describes special provisions of The Bank of New York Mellon Corporation 401(k) Savings Plan (the “Plan” to which this
Appendix F relates) that apply to Participants who were participants in The Retirement Savings Plan of BNY Securities Group (the “Legacy BNY Securities Group Plan”) on the Securities Group Merger Date and on whose behalf assets were
transferred to the Plan. Capitalized terms not otherwise defined in this Appendix F shall have the meanings ascribed to them in the Plan to which this Appendix F relates. 

F1. Merger. As a result of the adoption of the version of the Plan effective as of January 1, 2011 which includes this Appendix F,
the Legacy BNY Securities Group Plan shall be merged with and into the Plan and the accounts of each participant in the Legacy BNY Securities Group Plan (“Securities Group Transferred Amounts Account”) shall be merged with and into
the Plan as of the Securities Group Merger Date. On and after the Securities Group Merger Date, each participant in the Legacy BNY Securities Group Plan shall become a Transferee Participant and have an Account Balance under the Plan having a market
value immediately after the Securities Group Merger Date which is at least equal to the market value of the Account Balance he would have been entitled to receive immediately prior to the Securities Group Merger Date (assuming that the Legacy BNY
Securities Group Plan had then terminated), in accordance with Code Section 414(l) and in all cases preserving all benefits, rights and features associated with each such Transferee Participant’s accrued benefit under the terms of the
Legacy BNY Securities Group Plan required to be preserved under Code Section 411(d)(6) and applicable guidance. 
 Effective as of the
Securities Group Merger Date, the Legacy BNY Securities Group Plan shall cease to exist as a separate plan. 
 F2. Vesting.
Notwithstanding Section 3.6(b) of the Plan – providing for full vesting of Transferred Amounts Accounts – that portion of a Transferee Participant’s Securities Group Transferred Amounts Account attributable to Profit Sharing
Contributions (including, without limitation, Transition Contribution made with respect to the 2011 Plan Year) and Retirement Contributions made under Section 3.1(d) of the Legacy BNY Securities Group Plan prior to January 1, 2006 or
Nonelective Employer Contributions made under Article I, Section H.1 of the Brokerage Plan as constituted prior to January 1, 2006, applicable (all as defined in the Legacy BNY Securities Group Plan) shall continue to vest in accordance with
the following schedule which was in effect under the Legacy BNY Securities Group Plan on the day before the Securities Group Merger Date: 

  
 F-1 

					
	 Years of Service
	  	Nonforfeitable
Percentage of Profit
Sharing Contribution
and/or Retirement
Contribution	 	Nonforfeitable
Percentage of Non-
elective Employer
Contribution
	 Less than one year
	  	0%	 	0%
	 1 but less than 2
	  	20%	 	25%
	 2 but less than 3
	  	40%	 	25%
	 3 but less than 4
	  	60%	 	50%
	 4 but less than 5
	  	80%	 	75%
	 5 or more
	  	100%	 	100%

 For purposes of applying the foregoing vesting schedule, a Transferee Participant’s Years of Service
shall equal the sum of such Transferee Participant’s Years of Service under the Legacy BNY Securities Group Plan as of the day before the Securities Group Merger Date and such Transferee Participant’s Service as determined under the Plan
(hereinafter, such Transferee Participant’s “Combined Service”). 
 If a Transferee Participant with a Securities
Group Transferred Amounts Account (or a participant in the Legacy BNY Securities Group Plan in effect prior to the Securities Group Merger Date (“Former Securities Group Participant”)) severed from service and received a
distribution of the vested portion of the participant’s account but is subsequently re-employed by an Employer before incurring five consecutive one year Breaks in Service, any amount forfeited by the
Transferee Participant or Former Securities Group Participant shall be reinstated in the event such Participant repays to the Trustee any distribution such Participant received of his or her vested Account on account of such Participant’s
earlier Break in Service within five years following the date such former Participant again becomes an Employee in the Plan. 

Notwithstanding the foregoing, a Transferee Participant shall be fully vested in that portion of his Securities Group Transferred Amounts
Account attributable to such Profit Sharing Contributions and/or Nonelective Employer Contributions upon such Transferee Participant’s death, Total and Permanent Disability or attainment of age Normal Retirement Date as defined in the Legacy
BNY Securities Group Plan (i.e, age 62 or for Former Securities Group Participants who were participants in the Brokerage Plan (as defined in the Legacy BNY Securities Group Plan) and solely for the period ended December 31, 2005, the later of
age 65 or the 5th anniversary of the date the participant commenced participation in such Brokerage Plan). 

  
 F-2 

 F.3 Preservation of Participant Administrative Elections. All so-called “TEFRA 242(b)(2) elections”, employee pre or after tax contribution elections (other than so-called “spill over” elections by which excess
pre-tax contributions are automatically treated as after-tax contributions), payroll withholding elections related to any plan loans and other administrative forms
other than beneficiary designation forms (“Forms”) filed by Transferee Participants or others under the Legacy BNY Securities Group Plan shall continue in full force and effect on and after the Securities Group Merger Date.
New beneficiary designation forms must be executed in accordance with the terms of the Plan and any changes to any other Forms carried over from the Legacy BNY Securities Group Plan must be executed in accordance with the terms of the Plan. 

F.4 Preservation of Participant Investment Elections. As contemplated by Section 4.3(a) of the Plan, all investment elections
(including any default elections but excluding any “automatic re-balance” or similar elections) to particular investment options under the Legacy BNY Securities Group Plan applicable to existing
investments and/or new contributions under such Legacy BNY Securities Group Plan shall be treated as elections to invest such existing investments and/or new contributions in those investment funds available under this Plan which have been
determined by the BIC, in its sole discretion, in accordance with ERISA Section 404(c)(4), to be similar to the investment options under the Legacy BNY Securities Group Plan in which the participants existing and/or new contributions were
invested and, if none, as an election to invest in a Qualified Default Investment Alternative. New investment elections must be executed in accordance with the terms of the Plan. 

F.5 Loans. The portion of a Transferred Amounts Account consisting of an outstanding loan issued in accordance with the provisions of
the Legacy BNY Securities Group Plan shall continue to be administered in accordance with the terms of the loan, including its method of repayment; provided, however, that, to the extent permissible under existing law and the terms of the loan,
(i) the amortization schedule shall be adjusted to reflect any differences in the payroll frequency; provided, however, that no such adjustments may extend the term of the loan beyond the original due date; (ii) if the Participant is
receiving severance payments under a Corporation-sponsored severance program, then such outstanding loan shall not become immediately due and payable until the cessation of such severance payments, (iii) the provisions of Section 6.6(b) of
the Plan applicable to existing loans shall apply and (iv) the method of payment (e.g., coupons, direct debit) shall be harmonized with the methods of payment available under the Plan. 

  
 F-3 

 F.6 In-Service Withdrawals. To the extent not
otherwise permitted by the withdrawal provisions of Sections 6.3 and 6.4, a Transferee Participant may elect to withdraw all or any part of his vested Securities Group Transferred Amounts Account after attaining age
59-1/2 without termination of employment. Any such requests for withdrawals may be made as of any Valuation Date during the year; provided, however, that not more than one such withdrawal may be made in any
calendar year and shall be made in accordance with procedures established by the BAC. 

  
 F-4 

 APPENDIX G 

PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE 

RUSSELL/MELLON 401(K) PLAN 
 This Appendix
G describes special provisions of The Bank of New York Mellon Corporation 401(k) Savings Plan (the “Plan” to which this Appendix G relates) that apply to Participants who were participants in the Russell/Mellon 401(k) Plan –
last sponsored by BNY Mellon Performance & Risk Analytics, LLC (fka Mellon Analytical Solutions, LLC) (the “Russell/Mellon Plan”) – on the Russell/Mellon Merger Date and on whose behalf assets were transferred to the
Plan. Capitalized terms not otherwise defined in this Appendix G shall have the meanings ascribed to them in the Plan to which this Appendix G relates. 

G.1. Merger. Pursuant to those certain resolutions adopted at a duly called and convened meeting held on August 12, 2013 at
which a quorum was present and acting throughout, the Board approved the merger of the Russell/Mellon Plan with and into the Plan; including, without limitation, the transfer of all participant accounts under the Russell/Mellon Plan
(“Russell/Mellon Transferred Amounts Account”) to the Plan and the investment of such transferred amounts in the similar investment options provided under the Plan as of such Russell/Mellon Merger Date. On and after the
Russell/Mellon Merger Date, each participant in the Russell/Mellon Plan shall become a Transferee Participant and have a Transferred Amounts Account balance under the Plan having a market value immediately after the Russell/Mellon Merger Date which
is at least equal to the market value of the account balance he would have been entitled to receive immediately prior to the Russell/Mellon Merger Date (assuming that the Russell/Mellon Plan had then terminated), in accordance with Code
Section 414(l) and in all cases preserving all benefits, rights and features associated with each such Transferee Participant’s accrued benefit under the terms of the Russell/Mellon Plan required to be preserved under Code
Section 411(d)(6) and applicable guidance.
 Effective as of the Russell/Mellon Merger Date, the Russell/Mellon Plan shall cease to exist as a separate
plan. 
 G.2. Vesting. Sections 2 and 3 of Article VII, Vesting, of the Russell/Mellon Plan provide for full vesting in
all contributions made under such Russell/Mellon Plan on behalf of participants with at least one hour of service under such Russell/Mellon Plan on and after January 1, 2003. In addition, as a result of that certain First (Compliance) Amendment
to the Russell/Mellon Plan adopted February 24, 

  
 G-1 

 
2012 but effective as of December 31, 2003, that portion of a Transferee Participant’s Russell/Mellon Transferred Amounts Account attributable to the Russell/Mellon Retirement Plan
(which was merged into the Russell/Mellon effective as of December 31, 2003) was 100% vested. Accordingly, Transferee Participants are 100% vested in all Accounts under the Russell/Mellon Plan; including, without limitation, that portion
of their Russell/Mellon Transferred Amounts Account attributable to amounts accrued under the Russell/Mellon Retirement Plan and credited to their Prior Employer Spousal Consent Account under this Plan. 

G.3. Preservation of Participant Administrative Elections. All so-called “TEFRA
242(b)(2) elections”, payroll withholding elections related to any plan loans and other administrative forms other than beneficiary designation forms (“Forms”) filed by Transferee Participants or others under the
Russell/Mellon Plan shall continue in full force and effect on and after the Russell/Mellon Merger Date. New beneficiary designation forms must be executed in accordance with the terms of the Plan and any changes to any other Forms carried over
from the Russell/Mellon Plan must be executed in accordance with the terms of the Plan. 
 G.4. Treatment of Participant Investment
Elections.
 (a) In General. Except as provided in (b), below, as contemplated by Section 4.3(a) of the Plan, all investment
elections (including any default elections but excluding any “automatic re-balance” or similar elections) to particular investment options under the Russell/Mellon Plan applicable to existing
investments under such Russell/Mellon Plan shall be treated as elections to invest such existing investments in those investment funds available under this Plan as of the Russell/Mellon Merger Date which have been determined by the BIC, in its sole
discretion, in accordance with ERISA Section 404(c)(4), to be similar to the investment options under the Russell/Mellon Plan in which the participants existing contributions were invested and, if none, as an election to invest in a Qualified
Default Investment Alternative. Investment elections made after the Russell/Mellon Merger Date – both reallocation directions with respect to existing investments and investments of new contributions – must be executed in accordance
with the terms of the Plan.

  
 G-2 

 (b) Certain Grandfathered Insurance Contracts. Notwithstanding anything in
(a) to the contrary, that portion of a Transferee Participant’s Transferred Amounts invested in insurance contracts as hereinafter described on the day before the Russell/Mellon Merger Date shall continue to be invested in such insurance
contracts on and after the Russell/Mellon Merger Date – which contracts shall be transferred, in kind, to the Plan – until such time as either the Participant elects to reinvest the amounts held under such contracts or such contracts are
paid out in accordance with their terms and the terms of the Russell/Mellon Plan which are preserved and restated in this Appendix G as follows: 

(1) In no event shall the Plan hold any insurance contracts or policies other than those contracts or policies originally rolled over to the
Russell/Mellon Plan from the Profit Sharing Plan for Employees of Frank Russell Company (the “Grandfathered R/M Contracts”). The Trustee shall be the owner of any such Grandfathered R/M Contracts held under the Russell/Mellon Plan
that have been transferred to the Plan on and after the Russell/Mellon Merger Date. The Grandfathered R/M Contracts must provide that proceeds will be payable to the Trustee; however, the Trustee shall be required to pay over all proceeds of such
Contracts to the Participant’s Beneficiary in accordance with the distribution provisions of this Plan. A Participant’s Spouse will be the designated Beneficiary of the proceeds in all circumstances unless the Participant shall have
designated another person and obtained the required Spousal Consent. Under no circumstances shall the Trust retain any part of the proceeds. 

(2) The following limitations shall apply to the application of contributions for the payment of premiums related to the Grandfathered R/M
Contracts: 
 (A) Ordinary life - For purposes of the incidental insurance provisions, ordinary life insurance contracts are contracts with
both non-decreasing death benefits and non-increasing premiums. If the Grandfathered R/M Contracts constitute such contracts, less than
one-half (1/2) of the aggregate Employee Contributions (other than Roth Contributions), Matching Contributions, Profit Sharing Contributions and Retirement Contributions allocated to any Participant will be
used to pay the premiums attributable to them. 
 (B) Term and universal life - No more than
one-quarter (1/4) of the aggregate Employee Contributions (other than Roth Contributions), Matching Contributions, Profit Sharing Contributions and Retirement Contributions allocated to any Participant will be
used to pay the premiums on any Grandfathered R/M Contracts which constitute term life insurance contracts, universal life insurance contracts, and all other life insurance contracts which are not ordinary life described in (A). 

  
 G-3 

 (C) Combination - The sum of one-half (1/2) of the
ordinary life insurance premiums and all other life insurance premiums will not exceed one-quarter (1/4) of the aggregate Employee Contributions (other than Roth Contributions), Matching Contributions, Profit
Sharing Contributions and Retirement Contributions allocated to any Participant. 
 (3) Any dividends or credits earned on any Grandfathered
R/M Contracts will be allocated to the Participant’s Account for whose benefit the Grandfathered R/M Contract is held. 
 (4) Upon the
death of a Participant, the proceeds of any Grandfathered R/M Contract shall be paid by the Trustee to his Beneficiary pursuant to the terms of this Plan. 

(5) In the event a Participant is eligible to receive a distribution of benefits, the entire value of all Grandfathered R/M Contracts held on
his behalf shall be converted to cash and used to provide benefits in accordance with the form of benefit selected under the Plan and section G.7 of this Appendix G. Alternatively, the Participant may elect to receive a distribution of all
Grandfathered R/M Contracts held on his behalf. In no event shall life insurance protection be provided to a Participant beyond his retirement. 

(6) In the event of any conflict between the provisions of this Plan and those of any Grandfathered R/M Contracts purchased hereunder, the
Plan provisions shall control. 
 G.5. Loans. The portion of a Transferred Amounts Account consisting of an outstanding loan
issued in accordance with the provisions of the Russell/Mellon Plan shall be treated as an “Assigned Loan” under Section 6.6(b)(vii) and shall continue to be administered in accordance with the terms of the loan, including its method
of repayment and consequences of default; provided, however, that, to the extent permissible under existing law and the terms of the loan, (a) the amortization schedule shall be adjusted to reflect any differences in the payroll frequency;
provided, however, that no such adjustments may extend the term of the loan beyond the original due date; (b) if the Participant is receiving severance payments under a Corporation-sponsored severance program, then such outstanding loan shall
not become immediately due and payable until the cessation of such severance payments, (c) the provisions of Section 6.6(b)(ix) of the Plan shall apply and (d) the method of payment (e.g., coupons, direct debit) shall be harmonized
with the methods of payment available under the Plan.

  
 G-4 

 G.6. In-Service Withdrawals. To the
extent not otherwise permitted by the withdrawal provisions of Sections 6.3 and 6.4, a Transferee Participant may elect to withdraw all or any part of his Russell/Mellon Transferred Amounts Account attributable to his Salary Reduction Account,
Rollover Account and his Matching Contribution Account, as such terms were defined under the Russell/Mellon Plan, after attaining age 59-1/2 without termination of employment. Any such requests for
withdrawals may be made as of any Valuation Date during the year; provided, however, that not more than one such withdrawal may be made in any calendar year and shall be made in accordance with procedures established by the BAC. 

G.7. Preservation of Certain Distribution Options. Benefits with an annuity starting date prior to the Russell/Mellon Merger Date
will be paid / continue to be paid in the form elected by the Participant; including, without limitation, the installment form of payment described in Section 5(a) of Article VIII, Payment of Benefits, under the Russell/Mellon Plan. Except to
the extent otherwise permitted to be eliminated under Code Section 411(d)(6) and applicable guidance and in addition to any other distribution options available under the Plan, the following benefits, rights and features associated with each
such Transferee Participant’s accrued benefit under the terms of the Russell/Mellon Plan and described in this paragraph G.7 are hereby preserved:

(a) Profit Sharing Accounts. As permitted by Treasury Regulation Section 1.411(d)-4,
Q&A 2(e) and consistent with the “401(k) Transition Brochure for Participants in the Russell/Mellon Plan” dated December, 2013, the following joint and survivor annuity distribution options added by the First (Compliance) Amendment to
the Russell/Mellon Plan were eliminated effective as of the Russell/Mellon Merger Date: a reduced monthly payment payable to the Participant for life and, after his death, a monthly payment equal to one hundred percent (100%), sixty six and two-thirds percent (66-2/3%) or fifty percent (50%) (as specified by the Participant at the time of the election) of the Participant’s reduced monthly payment payable to
his Beneficiary for life. Accordingly, on and after the Russell/Mellon Merger Date, a Transferee Participant shall be permitted to elect distribution of his or her Russell/Mellon Transferred Amounts Account attributable to his Employer Contribution,
Qualified Contribution, Matching Contribution, Salary Reduction and Rollover Accounts (collectively, the “Profit Sharing Accounts”) in the distribution options available to similarly situated Participants under the Plan. 

  
 G-5 

 (b) Retirement Plan Accounts. In addition to any other distribution options
available under the Plan, a Transferee Participant shall be permitted to elect distribution of his or her Russell/Mellon Transferred Amounts Account attributable to his accrued benefit under the Russell/Mellon Retirement Plan which was transferred
to the Russell/Mellon Plan effective as of December 31, 2003 (the “Retirement Plan Account”) in the following joint and survivor annuity distribution options:

(1) Qualified Joint and Survivor Annuity. Unless an optional form of benefit is selected pursuant to a qualified election within
the ninety (90)-day period ending on the annuity starting date, a married Participant’s vested Retirement Plan Account will be paid in the form of a qualified joint and survivor annuity and an unmarried
Participant’s vested account balance will be paid in the form of a single life annuity. The Participant may elect to have such annuity distributed upon attainment of the earliest retirement age under the Plan. A “qualified joint and
survivor annuity” means an immediate annuity with a reduced monthly payment for the life of a Participant with a survivor annuity for the Participant’s surviving spouse which is one hundred percent (100%) of the amount of the reduced
annuity which is payable during the joint lives of the Participant and his spouse and which is the amount of benefit that can be purchased with the portion of the Participant’s vested account balance. (This is the normal form of benefit.) The
following additional optional joint and survivor annuity distribution options are available under this Section (b)(1): 
 A. A reduced
monthly payment payable to the Participant for life and, after his death, a monthly payment equal to fifty percent (50%) of the Participant’s reduced monthly payment payable to his Beneficiary for life and that is actuarially equivalent to the
one hundred percent (100%) joint and survivor annuity described above; and 
 B. A reduced monthly payment payable to the Participant for
life and, after his death, a monthly payment equal to sixty six and two-thirds percent (66 2/3%) of the Participant’s reduced monthly payment payable to his Beneficiary for life. 

  
 G-6 

 (2) Qualified Preretirement Survivor Annuity. Unless an optional form of benefit has
been selected within the election period pursuant to a qualified election, if a Participant dies before the annuity starting date, the Participant’s vested account balance shall be applied toward the purchase of a qualified preretirement
survivor annuity. The surviving spouse may elect to have the qualified preretirement survivor annuity distributed within a reasonable period after the Participant’s death. A qualified preretirement survivor annuity means an annuity
for the life of a Participant’s surviving spouse that is purchased with the Participant’s vested account balance. 
 (3) Notice
Requirements. 
 A. In the case of a qualified joint and survivor annuity, the BAC shall, no less than thirty (30) days and no
more than ninety (90) days prior to the annuity starting date, provide each Participant with a written explanation of: (i) the terms and conditions of a qualified joint and survivor annuity; (ii) a description of the financial effect
of electing the qualified joint and survivor annuity; (iii) a description of the relative value of the qualified joint and survivor annuity as compared to the other optional forms of benefit available under the Plan; (iv) the
Participant’s right to make and the effect of an election to waive the qualified joint and survivor annuity form of benefit; (v) the rights of a Participant’s Spouse; and (vi) the right to make, and the effect of, a revocation of
a previous election to waive the qualified joint and survivor annuity. 
 The annuity starting date for a distribution in a form other than
a qualified joint and survivor annuity may be less than thirty (30) days after receipt of the written explanation described in the preceding paragraph provided: (i) the Participant has been provided with information that clearly indicates
that the Participant has at least thirty (30) days to consider whether to waive the qualified joint and survivor annuity and elect (with Spousal consent) a form of distribution other than a qualified joint and survivor annuity; (ii) the
Participant is permitted to revoke any affirmative distribution election at least until the annuity starting date or, if later, at any time prior to the expiration of the seven (7)-day period that begins the
day after the explanation of the qualified joint and survivor annuity is provided to the Participant; and (iii) the annuity starting date is the date after the date that the written explanation was provided to the Participant. 

B. In the case of a qualified preretirement survivor annuity as described in Section (b)(2), the BAC shall provide each Participant within
the applicable period for such Participant a written explanation of the qualified preretirement survivor annuity in such terms and in such manner as would be comparable to the explanation provided for meeting the requirements of Section (b)(3)(A.)
applicable to a qualified joint and survivor annuity. 

  
 G-7 

 The applicable period for a Participant is whichever of the following periods ends
last: (I) the period beginning with the first day of the Plan Year in which the Participant attains age 32 and ending with the close of the Plan Year preceding the Plan Year in which the Participant attains age 35; (II) a reasonable period
ending after the individual becomes a Participant; (III) a reasonable period ending after Section G.7. ceases to apply to the Participant; or (IV) a reasonable period ending after this Section G.7. first applies to the
Participant. Notwithstanding the foregoing, notice must be provided within a reasonable period ending after separation from service in the case of a Participant who separates from service before attaining age 35. 

For purposes of applying the preceding paragraph, a reasonable period ending after the enumerated events described in (II), (III) and
(IV) is the end of the two (2)-year period beginning one (1) year prior to the date the applicable event occurs, and ending one (1) year after that date. In the case of a Participant who separates from service before the Plan
Year in which age 35 is attained, notice shall be provided within the two (2)-year period beginning one (1) year prior to separation and ending one (1) year after separation. If such a Participant thereafter returns to employment with
the Employer, the applicable period for such Participant shall be redetermined. 
 (c) Definitions. For purposes of this Section
G.7., the following definitions are applicable: 
 (1) Election period: The period which begins on the first day of the Plan Year
in which the Participant attains age 35 and ends on the date of the Participant’s death. If a Participant separates from service prior to the first day of the Plan Year in which age 35 is attained, with respect to the account balance as of the
date of separation, the election period shall begin on the date of separation. 
 A Participant who will not yet attain age 35 as of the end
of any current Plan Year may make a special election to waive the qualified preretirement survivor annuity for the period beginning on the date of such election and ending on the first day of the Plan Year in which the Participant will attain age
35. Such election shall not be valid unless the Participant receives a written explanation of the qualified preretirement survivor annuity in such terms as are comparable to the explanation required under (b)(3)(A). Qualified preretirement
survivor annuity coverage will be automatically reinstated as of the first day of the Plan Year in which the Participant attains age 35. Any new waiver on or after such date shall be subject to the full requirements of this Section G.7. 

  
 G-8 

 (2) Earliest retirement age: The earliest date on which, under the Plan, the
Participant could elect to receive retirement benefits. 
 (3) Qualified election: Any waiver of a qualified joint and survivor
annuity or a qualified preretirement survivor annuity shall not be effective unless: (i) the Participant’s Spouse consents in writing to the election; (ii) the election designates a specific beneficiary, including any class of
beneficiaries or any contingent beneficiaries, which may not be changed without Spousal consent (or the Spouse expressly permits designation by the Participant without any further spousal consent); (iii) the Spouse’s consent acknowledges the
effect of the election; and (iv) the Spouse’s consent is witnessed by a Plan representative or notary public. Additionally, a Participant’s waiver of the qualified joint and survivor annuity shall not be effective unless the
election designates a form of benefit payment which may not be changed without Spousal consent (or the Spouse expressly permits designations by the Participant without any further Spousal consent). If it is established to the satisfaction of a
Plan representative that there is no Spouse or that the Spouse cannot be located, a waiver will be deemed a qualified election. 
 Any
consent by a Spouse obtained under this provision (or establishment that the consent of a Spouse may not be obtained) shall be effective only with respect to such Spouse. A consent that permits designations by the Participant without any
requirement of further consent by such Spouse must acknowledge that the Spouse has the right to limit consent to a specific beneficiary, and a specific form of benefit where applicable, and that the Spouse voluntarily elects to relinquish either or
both of such rights. A revocation of a prior waiver may be made by a Participant without the consent of the Spouse at any time before the commencement of benefits. The number of revocations shall not be limited. No consent obtained
under this provision shall be valid unless the Participant has received notice as provided in Section G.7.(b)(3).
 (4) Annuity starting
date: The first day of the first period for which an amount is paid as an annuity or any other form. 

  
 G-9 

 Effect of Subsidized Benefit. Notwithstanding the other requirements of this Section
G.7., the respective notices prescribed by this Section G.7.(b)(3) need not be given to a Participant if (A) the Plan “fully subsidizes” the costs of a qualified joint and survivor annuity or qualified preretirement survivor annuity,
and (B) the Plan does not allow the Participant to waive the qualified joint and survivor annuity or qualified preretirement survivor annuity and does not allow a married Participant to designate a nonspouse beneficiary. For purposes of
this Section G.7., the Plan fully subsidizes the costs of a benefit if no increase in cost, or decrease in benefits to the Participant, may result from the Participant’s failure to elect another benefit. 

(d) Loans. Notwithstanding anything in the Plan to the contrary, a Participant may not borrow amounts from the separate account
maintained on behalf of the Participant attributable to the Russell/Mellon Retirement Plan and which are credited to the Participant’s Prior Employer Spousal Consent Account under this Plan. 

(e) In-Service Withdrawals. Notwithstanding anything in the Plan to the contrary, a
Participant may not take an in-service withdrawal from amounts held in the Participant’s separate account attributable to the Russell/Mellon Retirement Plan and which are credited to the
Participant’s Prior Employer Spousal Consent Account under this Plan. 

  
 G-10 

 APPENDIX H 

PROVISIONS CONCERNING FORMER PARTICIPANTS IN THE 

PARETO PARTNERS 401(K) AND MONEY PURCHASE PENSION PLANS 

This Appendix H describes special provisions of The Bank of New York Mellon Corporation 401(k) Savings Plan (the “Plan” to which this
Appendix H relates) that apply to Participants who were participants in the Pareto Partners 401(k) Plan and/or the Pareto Partners Money Purchase Pension Plan – last sponsored by Pareto Partners New York LLC (collectively, the “Pareto
Plans”) – on the Pareto Partners Transfer Date and on whose behalf assets were transferred to the Plan as of such date. Capitalized terms not otherwise defined in this Appendix H shall have the meanings ascribed to them in the
Plan to which this Appendix H relates. 
 H.1. Plan Termination and Asset Transfer. Pursuant to those certain resolutions
adopted at a duly called and convened meeting held on August 12, 2013 at which a quorum was present and acting throughout, the Board adopted management’s recommendation that the Pareto Plans: (i) be terminated as of December 31,
2013; (ii) that the accounts of all terminated participants be distributed and (iii) that the accounts of any active or missing participants be directly transferred to the Plan as necessary or appropriate for the benefit of such
individuals. On and after the Pareto Plans Transfer Date, each participant in either or both of the Pareto Plans shall become a Transferee Participant and have a Transferred Amounts Account balance under the Plan having a market value
immediately after the Pareto Plans Transfer Date which is at least equal to the market value of the account balance he would have been entitled to receive immediately prior to the Pareto Plans Transfer Date (assuming that the Pareto Plans had then
terminated), in accordance with Code Section 414(l) and in all cases preserving all benefits, rights and features associated with each such Transferee Participant’s accrued benefit under the terms of the Pareto Plans required to be
preserved under Section 3.9.2 and Section 3.9.4 of the Pareto Plans, Code Section 411(d)(6) and applicable guidance.

Effective as of the Pareto Plans Transfer Date, the Pareto Plans shall be treated as having distributed all assets related to their
December 31, 2013 termination dates and such Pareto Plans shall cease to exist as separate plans. 

  
 H-1 

 H.2. Vesting. Sections E.3 of the Adoption Agreements and Article IV,
Vesting, of the related Pareto Plan basic documents provide for full vesting in all contributions made under such Pareto Plans on behalf of participants with at least one hour of service under such Pareto Plans on and after January 1,
2005. 
 H.3. Beneficiary Designation and other Administrative Elections Not Preserved. Any beneficiary designation forms or
elections filed by Transferee Participants or others under the Pareto Plans prior to the Pareto Plans Transfer Date shall not be carried over to the Plan. Accordingly, beneficiary designation forms – and any and all other administrative
elections related to a Transferee Participant’s Transferred Amounts Account – must be executed in accordance with the terms of the Plan. 

H.4. Treatment of Participant Investment Elections. As contemplated by Section 4.3(a) of the Plan, the Transferred Amounts of
any Transferee Participant shall be invested in accordance with any such Transferee Participant’s election under the Plan for new contributions as in effect immediately prior to the Pareto Plans Transfer Date and, if none, shall be invested in
the Qualified Default Investment Alternative under the Plan. Investment elections made after the Pareto Plans Transfer Date – i.e., reallocation directions with respect to existing investments – must be executed in accordance with the
terms of the Plan.
 H.5. In-Service Withdrawals.

(a) Pareto 401(k) Plan. To the extent not otherwise permitted by the withdrawal provisions of Sections 6.2, 6.3 and 6.4, a Transferee
Participant may elect to withdraw all or any part of his Pareto 401(k) Plan Transferred Amounts Account attributable to his Elective Deferral, Matching and all other accounts under the Pareto 401(k) Plan, after attaining age 59-1/2 without termination of employment. Any such requests for withdrawals may be made as of any Valuation Date during the year; provided, however, that not more than one such withdrawal may be made in any
calendar year and shall be made in accordance with procedures established by the BAC. 
 (b) Pareto MPP Plan. Amounts credited to a
Transferee Participants Pareto MPP Plan Transferred Amounts account shall not be subject to withdrawal under Sections 6.2, 6.3 and/or 6.4 prior to such Transferee Participant’s termination of employment. 

  
 H-2 

 H.6. Preservation of Certain Distribution Options. Benefits with a Benefit
Commencement Date prior to the Pareto Plans Transfer Date will be paid / continue to be paid in the form elected by the Participant; including, without limitation, the installment and annuity forms of payment described in Section G.1 of the Adoption
Agreements and Sections 2.5.6(b) and (c), respectively, of Article V, Distributions, of the related Pareto Plans basic plan document. Except to the extent otherwise permitted to be eliminated under Code Section 411(d)(6) and applicable
guidance and in addition to any other distribution options available under the Plan, the following benefits, rights and features associated with each such Transferee Participant’s accrued benefit under the terms of the Pareto 401(k) Plan and
Pareto MPP Plan, as applicable, and described in this paragraph H.6 are hereby preserved:
 (a) Pareto 401(k) Plan Transferred Amounts
Account. As permitted by Code Section 411(d)(6)(E), Treasury Regulation Section 1.411(d)-4, Q&A 2(e) and consistent with the notice provided to participants in the summary of material
modifications dated December, 2014, and entitled “DISTRIBUTION OPTIONS ON TRANSFERRED AMOUNTS FROM THE PARETO PARTNERS 401(k) PLAN FROM THE PARETO PARTNERS MONEY PURCHASE PLAN TO THE BANK OF NEW YORK MELLON CORPORATION 401(k) SAVINGS PLAN”
the joint and survivor annuity and installment distribution options provided by Section G.1 of the Adoption Agreement and Section 2.5.6(b) and (c) of Article V, Distributions, of the basic plan document representing the terms and
conditions of the Pareto 401(k) Plan were carried over to this Plan as of the Pareto Plans Transfer Date but then immediately eliminated effective as of the day after the Pareto Plans Transfer Date by virtue of the Plan providing an immediate lump
sum distribution option and such annuity and installment options not being preserved by this Section H.6(a). Accordingly, immediately following the Pareto Plans Transfer Date, a Transferee Participant shall be permitted to elect distribution of his
or her Pareto 401(k) Plan Transferred Amounts Account attributable to his Elective Deferral, Matching and all other accounts under the Pareto 401(k) Plan solely in the distribution options available to similarly situated Participants under the Plan
and shall no longer be permitted to elect payment of such accounts in a Pareto 401(k) annuity or installment option. 
 (b) Pareto MPP
Plan Transferred Amounts Account. In addition to any other distribution options available under the Plan, a Transferee Participant shall be permitted to elect distribution of his or her Pareto MPP Plan Transferred Amounts Account
attributable to his accrued benefit under the Pareto MPP Plan in the following annuity and installment distribution options:

  
 H-3 

 (1) Qualified Joint and Survivor Annuity. Unless an optional form of benefit is
selected pursuant to a qualified election within the ninety (90)-day period ending on the Benefit Commencement Date, a married Participant’s Pareto MPP Plan Transferred Amounts Account will be paid in the
form of a qualified joint and survivor annuity and an unmarried Participant’s vested account balance will be paid in the form of a single life annuity. The Participant may elect to have such annuity distributed upon attainment of the earliest
retirement age under the Plan. A “qualified joint and survivor annuity” means an immediate annuity with a reduced monthly payment for the life of a Participant with a survivor annuity for the Participant’s surviving spouse which is
fifty percent (50%) of the amount of the reduced annuity which is payable during the joint lives of the Participant and his spouse and which is the amount of benefit that can be purchased with the portion of the Participant’s Pareto MPP Plan
Transferred Amounts Account. (This is the normal form of benefit.) As permitted by Treasury Regulation Section 1.411(d)-4, Q&A-2(a)(3)(ii), any annuity forms of
payment elected under this Section H.6(b) may be provided from the assets held in Trust under the Plan and need not be made through the purchase of a non-transferable, single-premium annuity contract from a
legal reserve life insurance company as contemplated by the Pareto Plans. Under the authority of Treasury Regulation Section 1.411(d)-3(c) – permitting the elimination of redundant benefits provided
core options described in Treasury Regulation Section 1.411(d)-3(g)(5) are preserved (e.g., the 75% joint and contingent option which also serves as the qualified optional survivor annuity described in
Code Section 417(a)(1)(A)(ii) and 417(g)) – the following additional optional joint and survivor annuity distribution options are carried over from the Pareto MPP Plan and made available under this Section (b)(1): 

A. A reduced monthly payment payable to the Participant for life and, after his death, a monthly payment equal to fifty percent (50%),
seventy-five percent (75%) or one hundred percent (100%) of the Participant’s reduced monthly payment payable to his Beneficiary for life and that is actuarially equivalent to the fifty percent (50%) qualified joint and survivor annuity
described above; and 
 B. A reduced monthly payment payable for such period as may be designated by the Participant with any applicable
refund feature following the death of the Participant inuring to the benefit of the Participant’s Beneficiary; provided, however, that such period shall not exceed the life expectancy of the Participant as of the Benefit Commencement
Date.     

  
 H-4 

 (2) To the extent not otherwise permitted by the installment distribution provisions of
7.3(a) of the Plan (which limits installments to the lesser of the applicable life expectancy(ies) or 10 years), in substantially equal annual, quarterly or monthly installments over a period selected by the participant (but not less than one
(1) year) but not greater than the Participant’s life expectancy or the Participant’s and the Participant’s Beneficiary’s joint life expectancies as of the Benefit Commencement Date, plus accrued net income. 

(3) Qualified Preretirement Survivor Annuity. Unless an optional form of benefit has been selected within the election period pursuant
to a qualified election described in (c)(3), if a Participant dies before the Benefit Commencement Date, the Participant’s Pareto MPP Plan Transferred Amounts Account shall be applied toward the purchase of a qualified preretirement survivor
annuity. The surviving spouse may elect to have the qualified preretirement survivor annuity distributed within a reasonable period after the Participant’s death. A qualified preretirement survivor annuity means an annuity for the
life of a Participant’s surviving spouse that is purchased with the Participant’s Pareto MPP Plan Transferred Amounts Account. 

(4) Notice Requirements. 

A. In the case of a Participant with a Pareto MPP Plan Transferred Amount Account, the BAC shall, no less than thirty (30) days and no
more than ninety (90) days prior to the Benefit Commencement Date, provide each such Participant with a written explanation of: (i) the terms and conditions of a qualified joint and survivor annuity; (ii) a description of the
financial effect of electing the qualified joint and survivor annuity; (iii) a description of the relative value of the qualified joint and survivor annuity as compared to the other optional forms of benefit available under the Plan;
(iv) the Participant’s right to make and the effect of an election to waive the qualified joint and survivor annuity form of benefit; (v) the rights of a Participant’s Spouse; and (vi) the right to make, and the effect of, a
revocation of a previous election to waive the qualified joint and survivor annuity. 

  
 H-5 

 The Benefit Commencement Date for a distribution in a form other than a qualified joint and
survivor annuity may be less than thirty (30) days after receipt of the written explanation described in the preceding paragraph provided: (i) the Participant has been provided with information that clearly indicates that the Participant
has at least thirty (30) days to consider whether to waive the qualified joint and survivor annuity and elect (with Spousal consent) a form of distribution other than a qualified joint and survivor annuity; (ii) the Participant is
permitted to revoke any affirmative distribution election at least until the Benefit Commencement Date or, if later, at any time prior to the expiration of the seven (7)-day period that begins the day after
the explanation of the qualified joint and survivor annuity is provided to the Participant; and (iii) the Benefit Commencement Date is the date after the date that the written explanation was provided to the Participant. 

B. Except as otherwise provided in H.6(b)(4)(C.) below in the case of a fully subsidized benefit, In the case of a Participant with a Pareto
MPP Plan Transferred Amount Account which is eligible to be provided in a qualified preretirement survivor annuity as described in Section (b)(3), the BAC shall provide each such Participant within the applicable period for such Participant
(described below) a written explanation of the qualified preretirement survivor annuity in such terms and in such manner as would be comparable to the explanation provided for meeting the requirements of Section (b)(4)(A.) applicable to
distributions eligible to be paid in a qualified joint and survivor annuity. 
 The “applicable period” for a Participant is
whichever of the following periods ends last: (i) the period beginning with the first day of the Plan Year in which the Participant attains age 32 and ending with the close of the Plan Year preceding the Plan Year in which the Participant
attains age 35; (ii) a reasonable period ending after the individual becomes a Participant; (iii) a reasonable period ending after this Section H.6. ceases to apply to the Participant; or (iv) a reasonable period ending after this Section
H.6. first applies to the Participant. Notwithstanding the foregoing, notice must be provided within a reasonable period ending after separation from service in the case of a Participant who separates from service before attaining age 35. 

For purposes of applying the preceding paragraph, a reasonable period ending after the enumerated events described in (ii), (iii) and
(iv) is the end of the two (2)-year period beginning one (1) year prior to the date the applicable event occurs, and ending one (1) year after that date. In the case of a Participant who separates from service before the Plan
Year in which age 35 is attained, notice shall be provided within the two (2)-year period beginning one (1) year prior to separation and ending one (1) year after separation. If such a Participant thereafter returns to employment with the
Employer, the applicable period for such Participant shall be redetermined. 

  
 H-6 

 C. Effect of Subsidized Benefit. Notwithstanding the other requirements of this
Section H.6, the respective notices prescribed by this Section H.6(b)(4) need not be given to a Participant if (i) the Plan “fully subsidizes” the costs of a qualified joint and survivor annuity or qualified preretirement survivor
annuity, and (ii) the Plan does not allow the Participant to waive the qualified joint and survivor annuity or qualified preretirement survivor annuity and does not allow a married Participant to designate a
non-spouse beneficiary. For purposes of this Section H.6., the Plan fully subsidizes the costs of a benefit if no increase in cost, or decreases in benefit to the Participant, may result from the
Participant’s failure to elect another benefit. 
 (c) Definitions. For purposes of this Section H.6., the following
definitions are applicable: 
 (1) Election period: The period which begins on the first day of the Plan Year in which the
Participant attains age 35 and ends on the date of the Participant’s death. If a Participant separates from service prior to the first day of the Plan Year in which age 35 is attained, with respect to the account balance as of the date of
separation, the election period shall begin on the date of separation. 
 A Participant who will not yet attain age 35 as of the end of any
current Plan Year may make a special election to waive the qualified preretirement survivor annuity for the period beginning on the date of such election and ending on the first day of the Plan Year in which the Participant will attain age
35. Such election shall not be valid unless the Participant receives a written explanation of the qualified preretirement survivor annuity in such terms as are comparable to the explanation required under (b)(4)(A). Qualified preretirement
survivor annuity coverage will be automatically reinstated as of the first day of the Plan Year in which the Participant attains age 35. Any new waiver on or after such date shall be subject to the full requirements of this Section H.6. 

(2) Earliest retirement age: The earliest date on which, under the Plan, the Participant could elect to receive retirement
benefits. 

  
 H-7 

 (3) Qualified election: Any waiver of a qualified joint and survivor annuity or
a qualified preretirement survivor annuity shall not be effective unless: (A) the Participant’s Spouse consents in writing to the election; (B) the election designates a specific beneficiary, including any class of beneficiaries or
any contingent beneficiaries, which may not be changed without Spousal consent (or the Spouse expressly permits designation by the Participant without any further spousal consent); (C) the Spouse’s consent acknowledges the effect of the
election; and (D) the Spouse’s consent is witnessed by a Plan representative or notary public. Additionally, a Participant’s waiver of the qualified joint and survivor annuity shall not be effective unless the election designates
a form of benefit payment which may not be changed without Spousal consent (or the Spouse expressly permits designations by the Participant without any further Spousal consent). If it is established to the satisfaction of a Plan representative
that there is no Spouse or that the Spouse cannot be located, a waiver will be deemed a qualified election. 
 Any consent by a Spouse
obtained under this provision (or establishment that the consent of a Spouse may not be obtained) shall be effective only with respect to such Spouse. A consent that permits designations by the Participant without any requirement of further
consent by such Spouse must acknowledge that the Spouse has the right to limit consent to a specific beneficiary, and a specific form of benefit where applicable, and that the Spouse voluntarily elects to relinquish either or both of such
rights. A revocation of a prior waiver may be made by a Participant without the consent of the Spouse at any time before the commencement of benefits. The number of revocations shall not be limited. No consent obtained under this
provision shall be valid unless the Participant has received notice as provided in Section H.6.(b)(4).
 (d)
Loans. Notwithstanding anything in the Plan to the contrary, a Participant may not borrow amounts from the separate Transferred Amounts Account maintained on behalf of the Participant attributable to the Pareto MPP Plan and which are
credited to the Participant’s Prior Employer Spousal Consent Account under this Plan. 
 (e)
In-Service Withdrawals. Notwithstanding anything in the Plan to the contrary, a Participant may not take an in-service withdrawal from amounts held in the
Participant’s separate Transferred Amounts Account attributable to the Pareto MPP Plan and which are credited to the Participant’s Prior Employer Spousal Consent Account under this Plan. 

  
 H-8

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