Document:

2003 Long-Term Incentive Plan Stock Option Agreement

 Exhibit 10.9 
 

 
 FORM OF THE BANK OF NEW YORK COMPANY, INC. 
 2003 LONG-TERM INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 To: 
 Pursuant to the 2003 Long-Term Incentive Plan of
the Bank of New York Company, Inc. (“Plan”), you have been granted a non-statutory stock option to purchase shares of Common Stock upon the following terms and conditions and the terms and conditions of the Plan (“Option”).

  

					
	 Grant Date
	 	 # of Option Shares Granted
	 	 Exercise Price

	April 2, 2007	 		 	$40.41

 The Option will vest over three years with one-third of the shares (in whole numbers) underlying
the Option vesting on each anniversary of the Option’s grant date. 
 A copy of the Plan is available to you through The Bank of New
York Employee Stock Plan Website (www.bnymystock.com/bny). Unless defined herein, capitalized terms used herein shall be as defined in the Plan. 
 1. Your right to exercise the vested portion of the Option shall expire ten years from the Grant Date; provided, however, in the event your employment with the Company and its subsidiaries shall cease for any reason prior to the tenth
anniversary of the Grant Date, your right to exercise such vested portion of the Option may expire at an earlier date, as provided in Paragraph 3 herein (“Option Termination Date”). 
 2. The Option may be exercised in whole at any time or in part from time to time as specified above. 

 3. In the event your employment with the Company and its subsidiaries is terminated prior to the tenth
anniversary of the Grant Date, your right to exercise the Option shall expire as of the applicable time period specified below, measured from the date of such termination: 
  

			
	 Reason for Termination
	 	 Applicable Time Period

	 Voluntary
	 	Must be Exercised by Termination Date*
		
	 Cause
	 	Must be Exercised by Termination Date*
		
	 Disability
	 	3 years
		
	 Retirement (at or after age 55)
	 	5 years
		
	 Death
	 	3 years
		
	 Other with Termination Agreement
	 	3 years
		
	 Other
	 	3 months*

	*	Option Shares not vested at Termination Date shall be forfeited. 

 For
purposes of this Option only, your employment termination date for Disability is the date on which you become disabled, as determined in accordance with Code Section 409A and are eligible to receive benefits under the Company’s Long-Term
Disability Plan as in effect from time to time. 
 4. In the event you terminate due to your (i) Retirement (at or after age 55),
(ii) Disability or (iii) death, or with a termination agreement accompanied by a general employment release acceptable to the Company (together, a “Termination Agreement”), a pro-rata portion of all of the shares under your
Option (based on a fraction the numerator of which shall be the number of full months that have elapsed from January 1, 2007 through your Termination Date, up to a maximum of 36, and the denominator of which shall be 36), including those shares
previously exercisable, shall become exercisable and the remainder of the shares under your Option shall be cancelled. In no event shall any shares vested under your Option become exercisable prior to one year after the Option’s grant date.

 5. You may direct the exercise of the Option through The Bank of New York Employee Stock Plan Website or telephone call center
(800-510-2654) or by delivering to the Plan Administrator written direction thereof, including in any such direction the number of shares to be exercised. Payment of the option price upon exercise of the Option shall accompany such direction and
shall be made in cash and/or shares of Common Stock in accordance with procedures established by the Committee. Exercise of the Option shall take effect on the date the direction and payment are actually received by the Plan Administrator.

 6. After an Option is exercised, the Company shall cause to be issued to you, subject to Paragraph 7, the number of shares of Common Stock
with respect to which the Option has been exercised. 
 7. You agree that, upon exercise of the Option with respect to all or any portion of
the Option Shares, you shall pay to the Company the appropriate amount of taxes due for withholding purposes as a result of such exercise or, in accordance with procedures established by the Committee, permit the Company to retain shares of Common
Stock from you to fulfill such withholding liability. 

 8. In the event you fail to comply with any rules or regulations the Company establishes with respect to
its businesses (including the Company’s Code of Conduct Policy and Procedures), the Company may cancel or revoke all or any portion of this Option with respect to the shares not yet exercised. The Company shall have sole discretion to determine
what constitutes such a failure. 
 9. This Option may be transferred by you to one or more immediate family members or to trusts established
in whole or in part for your benefit and/or the benefit of one or more of your immediate family members. For this purpose, (i) the term “immediate family” shall mean your spouse and issue (including adopted and step children) and
(ii) the phrase “immediate family members and trusts established in whole or in part for your benefit and/or the benefit of one or more of your immediate family members” shall be further limited, if necessary, so that neither the
transfer of the Option to such immediate family member or trust, nor your ability to make such a transfer, shall have adverse consequences to you or the Company under the Internal Revenue Code. In making any such transfer, you and the transferee
shall execute any additional agreements as may be required by the Committee. 
 10. These terms and conditions (a) shall be binding upon
and inure to the benefit of any successor of the Company and any transferee of the Option pursuant to Paragraph 9, (b) shall be governed by the laws of the State of New York without regard to any choice of law provisions thereof and
(c) may not be amended except in writing. This grant shall in no way affect your participation or benefits under any other plan or program maintained or provided by the Company. All actions and proceedings relating to or arising, directly or
indirectly, from this Option shall be litigated in courts located within the City and State of New York. You further hereby waive trial by jury in any judicial proceeding involving, directly or indirectly, any matter (whether sounding in tort,
contract or otherwise) in any way arising out of, related to, or connected with this Option. In the event of a conflict between these terms and conditions and the Plan, the Plan shall govern provided, however, that in all events the Plan and
these terms and conditions shall be interpreted and administered in accordance with the provisions of Code Section 409A, to the extent applicable to the Plan and your Option Grant. 
 Please indicate your acceptance hereof by signing and returning the enclosed copy of this Agreement. 
  

			
	Sincerely,
	
	THE BANK OF NEW YORK COMPANY, INC.
		
	By:	 	  

	Title:	 	Vice Chairman and General Counsel

 I accept and agree to the terms of this Agreement 
  

					
	 	  	 	  	 
	(Signature)	  	(Print Name)	  	(Date)2003 Long-Term Incentive Plan Restricted Share Unit Agreement

 Exhibit 10.10 
  
 

 
 FORM OF 2003 LONG-TERM INCENTIVE PLAN OF 
 THE BANK OF NEW YORK COMPANY, INC. 
 APRIL 2, 2007 RESTRICTED SHARE UNIT
AGREEMENT 
  

					
	 Grant Date
	 	 Total Number of RSUs Granted
	 	 Restricted Period Expires

	April 2, 2007	 	[INSERT]	 	April 2, 2010

 Pursuant to the 2003 Long-Term Incentive Plan of The Bank of New York Company, Inc. (“Plan”) you have
been granted the number of restricted share units (“RSUs”) identified above upon the following terms and conditions and the terms and conditions of the Plan. Each RSU is denominated as a single share of Common Stock with a value equal to
one share of Common Stock. This information, and a copy of the Plan, is also available to you through The Bank of New York Employee Stock Plan Website (www.bnymystock.com/bny). Unless defined herein, capitalized terms used in this Agreement shall be
as defined in the Plan. 
 Subject to paragraph 4 below, the period during which the RSUs are forfeitable and may be earned (the “Restricted
Period”) will be the period commencing on the Grant Date and ending on April 2, 2010. 
 1. Status of RSUs. An account for
the RSUs has been or will be established in your name on the books and records of the Company with respect to the applicable Restricted Period. Each RSU constitutes an unfunded and unsecured promise of the Company to deliver (or cause to be
delivered) to you, subject to the terms of this Agreement, one share of Common Stock immediately after the Restricted Period applicable to each RSU. Until the end of the Restricted Period applicable to each RSU, you have only the rights of a general
unsecured creditor of the Company. 
 2. No Shareholder Rights. You will have no rights as a stockholder in the shares of Common Stock
corresponding to your RSUs prior to the conversion of your RSUs to Common Stock at the conclusion of the Restricted Period. Consequently you will have no voting rights nor will you have any right to receive dividends or dividend equivalents with
respect to the RSUs during the Restricted Period. In the event you receive any additional RSUs as a result of a stock split, stock dividend or distribution with respect to the RSUs granted hereunder, such additional RSUs will be subject to the same
restrictions as if granted under this Agreement as of the Grant Date. 
 3. Nontransferable. You may not sell, transfer, assign,
pledge or otherwise encumber or dispose of the RSUs during the Restricted Period. 
 4. Payment of Common Stock for RSUs. 

 

	 	(a)	 You will be eligible to receive Common Stock in exchange for your RSUs as of the first to occur of the events described below. The Company shall cause to be issued
to you one share 

			
	The Bank of New York Company, Inc.	 	
	April 2, 2007 Restricted Share Units	 	

  

	 	 
of Common Stock for each RSU granted hereunder to the extent you are entitled to a distribution pursuant to paragraph 4(a)(i) or (ii). To the extent you are
entitled to a distribution pursuant to paragraph 4(a)(iii), (iv) or (v), the Company shall cause to be issued to you a pro-rata distribution of Common Stock underlying your RSUs in accordance with paragraph 4(b). Eligible distribution events
are as follows: 

  

	 	(i)	the date that the Restricted Period ends as specified above; 

  

	 	(ii)	the date a Change in Control occurs within the meaning of both Section 409A of the Internal Revenue Code of 1986, as amended (“Code Section 409A”), and
the Plan as from time to time in effect; 

  

	 	(iii)	the date you become disabled in accordance with Code Section 409A and are eligible to receive benefits under the Company’s Long-Term Disability Plan as in effect
from time to time (together, “Disability”); 

  

	 	(iv)	the date of your Retirement (as defined below); and 

  

	 	(v)	your death. 

  

	 	(b)	In the event your employment terminates due to your (i) Retirement; (ii) Disability or (iii) death, or (iv) with a termination agreement accompanied by a general
employment release acceptable to the Company, you will receive a pro-rata distribution of shares of Common Stock underlying your RSUs. The number of shares to be distributed shall be determined by multiplying the total number of your unvested RSUs
as of your employment termination date by a fraction, the numerator of which shall be the number of full months that have elapsed from January 1, 2007 through your termination date, up to a maximum of 36, and the denominator of which shall be
36. In the event of your death, such distribution will be issued to the beneficiary designated in writing by you or, in the absence of such designation, to your legatee or legatees under your last will or your personal representatives or
distributes, as the case may be. The remainder of the RSUs granted under this agreement shall be cancelled. 

 Any distribution made to you
under this paragraph 4 shall be made approximately 30 days following the applicable distribution event described in 4(a) or as soon as administratively practicable thereafter. For purposes of your 2007 grant of RSUs only, the term
“Retirement” means your voluntary separation from service as an employee in accordance with the policies of BNY Co. and affiliates on or after age 55 and completion of at least one year of service with such companies. A payment under the
Plan due to your “Retirement” does not entitle you to a benefit under any other plan or arrangement in which you may participate. For purposes of any other benefit plan or arrangement, the terms of that plan or arrangement will govern.

 5. Forfeiture for Violation of Rules and Regulations. In the event you fail to comply with any rules or regulations the Company
establishes with respect to its businesses (including the Company’s Code of Conduct Policy and Procedures), the Company may cancel or revoke all or any portion of the unvested RSUs. The Company shall have sole discretion to determine what
constitutes such a failure. 

			
	The Bank of New York Company, Inc.	 	
	April 2, 2007 Restricted Share Units	 	

  

 6. Termination of Employment. Subject to paragraph 4, all RSUs will be forfeited if your
employment terminates prior to the end of the Restricted Period. Notwithstanding the preceding sentence, the termination and vesting provisions in your employment offer letter shall take precedence. 
 7. Withholding of Taxes. In the event that the Company is required to withhold taxes on any income as a result of a distribution to you in respect
of all or any portion of your RSUs, you agree to pay to the Company the amount of any withholding taxes due or, in lieu thereof, the Company will have the right to deduct from any payment of any kind (either in cash or in stock, pursuant to
procedures specified by the Company from time to time) due you from the Company, the amount required to be withheld (whether or not such payment is made pursuant to this Agreement). 
 8. Section 409A Payment Delay. Notwithstanding any provision to the contrary herein, to the extent any payment to be made to you in
connection with the termination of your employment with the Company would be subject to the additional tax of Section 409A of the Code, such payment will be delayed until six months after your termination or earlier death or disability (within
the meaning of Section 409A and the Plan) if this delay would prevent the imposition of such additional tax. 
 9. Miscellaneous.
This Agreement (a) shall be binding upon and inure to the benefit of any successor of the Company, (b) shall be governed by the laws of the State of New York, without regard to any choice of law provisions thereof and (c) may not be
amended except in writing. This grant shall in no way affect your participation or benefits under any other plan or benefit program maintained or provided by the Company. In the event of a conflict between this Agreement and the Plan, the Plan shall
govern, provided, however, that in all events the Plan and this Agreement shall be interpreted and administered in accordance with the provisions of Code Section 409A, to the extent applicable to the Plan and your RSU Grant. 
 Please indicate your acceptance hereof by signing and returning the enclosed copy of this Agreement. 
  

			
	Sincerely,
	
	THE BANK OF NEW YORK COMPANY, INC.
		
	By:	 	  

	Title:	 	Vice Chairman and General Counsel

 I accept and agree to the terms of this Agreement 
  

					
	 	  	 	  	 
	(Signature)	  	(Print Name)	  	(Date)

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