Document:

Amd. No.1 to the Northern Trust Corporation Supplemental Thrift-Incentive Plan

 Exhibit (10)(vi)(1) 
 AMENDMENT NUMBER ONE TO THE 
 NORTHERN TRUST
CORPORATION 
 SUPPLEMENTAL THRIFT-INCENTIVE PLAN 
 (As Amended and Restated Effective as of January 1, 2008) 
 WHEREAS, the Northern Trust Corporation (the “Corporation”) maintains the Northern Trust Corporation Supplemental Thrift-Incentive Plan, As Amended and Restated effective as of
January 1, 2008 (the “Plan”); and 
 WHEREAS, amendment of the Plan is now considered desirable;

 NOW, THEREFORE, by virtue and in exercise of the amending power reserved to the Corporation under section 7.1 of the
Plan, and pursuant to the authority delegated to the undersigned officer by resolutions of the Compensation and Benefits Committee of the Board of Directors of the Corporation dated October 20, 2009, the Plan is hereby amended, effective
January 1, 2010, as follows: 
  

	1.	To delete Section 1.17 of the Plan in its entirety and to substitute the following therefor: 

  

	 	“1.17	“Qualified Plan Basic Profit Sharing Contribution” means the basic profit sharing contribution made by the Company with respect to a Participant under and in
accordance with the terms of the Qualified Plan for any Plan Year beginning on or after January 1, 2005 and prior to January 1, 2010.” 

  

	2.	To delete Section 1.26 of the Plan in its entirety and to substitute the following therefor: 

  

	 	“1.26	“Supplemental Basic Profit Sharing Contribution” means the basic profit sharing contribution, if any, made by the Company for the benefit of a Participant
under and in accordance with the terms of the Plan for any Plan Year beginning on or after January 1, 2005 and prior to January 1, 2010.” 

  

	3.	To delete Section 2.1(a)(ii) of the Plan in its entirety and to substitute the following therefor: 

  

	 	“(ii)	An employee of the Company (A) who is eligible to participate in the Qualified Plan in a Plan Year beginning on or after January 1, 2005 and prior to
January 1, 2010 and (B) for whom the Company makes a Supplemental Basic Profit Sharing Contribution to his or her Supplemental Basic Profit Sharing Contribution Account pursuant to Section 3.4 of the Plan shall be a Participant in the
Plan for purposes of his or her Supplemental Basic Profit Sharing Contribution Account.” 

  

	4.	To delete the period at the end of the first paragraph of Section 3.3 of the Plan, to substitute a comma therefor and to add the following after the comma:

 “excluding any contingent Matching Contribution formula and provisions related to any contingent Matching
Contribution formula set forth in the Qualified Plan.” 

	5.	To delete Section 3.4 of the Plan in its entirety and to substitute the following therefor: 

 “Supplemental Basic Profit Sharing Contributions. The Company shall make a Supplemental Basic Profit Sharing Contribution on
behalf of a Participant for any Plan Year beginning on or after January 1, 2005 and prior to January 1, 2010, based upon the Participant’s Salary that does not exceed the Code Section 401(a)(17) limitation for such Plan Year, and
only to the extent that all or part of the Qualified Plan Basic Profit Sharing Contribution cannot be made for such Plan Year due to any limitation imposed by Code Section 415 for such Plan Year. Such Supplemental Basic Profit Sharing
Contribution shall be made in accordance with the basic profit sharing contribution formula and provisions set forth in the Qualified Plan. Supplemental Basic Profit Sharing Contributions shall be discontinued for Plan Years beginning on and after
January 1, 2010. 
 The Supplemental Basic Profit Sharing Contribution made for the benefit of a Participant for any Plan
Year beginning on or after January 1, 2005 and prior to January 1, 2010 shall be allocated to a Supplemental Basic Profit Sharing Contribution Account maintained under the Plan in the name of such Participant at such time(s) as the
Committee shall determine, but in any event as of the last day of any such Plan Year.” 
 IN WITNESS WHEREOF, the
Corporation has caused this amendment to be executed on its behalf this 29th day of October, 2009, effective January 1, 2010. 
  

			
	 THE NORTHERN TRUST COMPANY

		
	By:	 	 /s/ Timothy P. Moen

	Name:	 	Timothy P. Moen
	Title:	 	Executive Vice President and
		 	Human Resources Department Head

  

 - 2 -Terms and Conditions 2010 Executive Stock Option

 Exhibit (10)(x)(9) 
 TERMS AND CONDITIONS 
 2010 EXECUTIVE STOCK OPTION

 UNDER THE AMENDED AND RESTATED 
 NORTHERN TRUST CORPORATION 2002 STOCK PLAN 
  

	1.	Governing Documents. Your stock option grant is subject to the provisions of the Amended and Restated Northern Trust Corporation 2002 Stock Plan (the
“Plan”), the stock option notice (the “Option Notice”) and this Terms and Conditions document (“Terms and Conditions”). The Option Notice and these Terms and Conditions constitute the “Stock Option Agreement”
as defined in the Plan. If there is any conflict between the information in the Stock Option Agreement and the Plan, the Plan will govern. These Terms and Conditions apply to non-qualified stock options and incentive stock options issued under the
Plan. Capitalized terms not defined in Stock Option Agreement shall have the meanings assigned to them in the Plan. 

  

	2.	Amendments. The Committee may amend the terms of the Stock Option Agreement at any time, except that any amendment that adversely affects your rights in
any material way requires your written consent. Notwithstanding anything in the Stock Option Agreement to the contrary, including without limitation the preceding sentence, in the event that the Committee determines that your stock option grant, or
the performance by the Corporation of any of its obligations under the Stock Option Agreement, would violate any applicable law, your stock options shall be forfeited to the Corporation and cancelled, and the Corporation shall have no obligation to
honor the exercise of your stock options by you or your Beneficiary. 

  

	3.	Exercise Limitations. Your stock option is exercisable from and after the vesting date(s) set forth on the Option Notice until the ten (10)-year
anniversary of the date the option was granted (the “Expiration Date”), except as provided below: 

  

	 	•	 	 Change in Control. Your stock option (whether vested or unvested) becomes vested and exercisable from and after the date of a Change in
Control of the Corporation. Please see “Other Termination of Employment” below for additional provisions relating to a Change in Control. 

  

	 	•	 	 Death. If you die while employed, your stock option (whether vested or unvested) becomes vested and exercisable as of the date of your
death and may be exercised by your beneficiary at any time until the earlier of (a) five (5) years following your death and (b) the Expiration Date. If you do not name a beneficiary (or your beneficiary dies before you), your stock
option will pass to the following persons in the order indicated: 

 – Your spouse; if none, then,

 – Your children (in equal amounts); if none, then, 
  

 -1- 

 – Your parents (in equal amounts); if none, then, 
 – Your brothers and sisters (in equal amounts); if none, then, 
 – Your estate. 
  

	 	•	 	 Retirement. If you retire, your stock option continues to vest in accordance with its terms, and, once vested, it may be exercised at any
time until the earlier of (a) five (5) years following the effective date of your retirement and (b) the Expiration Date. The terms “retire” and “retirement” mean retirement occurring by reason of your having
qualified for a Normal, Early, or Postponed Retirement Pension under The Northern Trust Company Pension Plan. You should be aware that an unexercised incentive stock option automatically converts into a non-qualified stock option three
(3) months after termination of employment due to retirement pursuant to the applicable provisions of the Internal Revenue Code of 1986, as amended (the “Code”) relating to incentive stock options. 

  

	 	•	 	 Special Circumstances. If (a) on the date of grant, you are a Management Group member, and (b) on the date of your termination
of employment, you are age 55 or older and have a minimum of 10 years of employment with the Corporation and its Subsidiaries, then your stock option continues to vest in accordance with its terms, and, once vested, it may be exercised at any time
until the earlier of (i) five (5) years following the date of your termination of employment and (ii) the Expiration Date. You should be aware that an unexercised incentive stock option automatically converts into a non-qualified
stock option three (3) months after termination of employment under the described circumstances pursuant to the applicable provisions of the Code relating to incentive stock options. 

  

	 	•	 	 Disability. If, while employed, you incur a “disability” that continues for a period of 12 months in accordance with The
Northern Trust Company’s Managed Disability Program you are deemed “Disabled” on the last day of such 12 month period, at which date you are terminated from the Plan. Your stock option (whether vested or unvested) becomes vested and
exercisable upon the date you are deemed Disabled and may be exercised at any time until the earlier of (a) five (5) years following the date you are deemed Disabled and (b) the Expiration Date. You should be aware that an unexercised
incentive stock option automatically converts into a non-qualified stock option three months after termination from the Plan, pursuant to the applicable provisions of the Code relating to incentive stock options. 

  

	 	•	 	 Severance. If your employment is terminated under circumstances that entitle you to severance benefits under the Northern Trust
Corporation Severance Plan (the “Severance Plan”), and you have timely executed and not revoked a settlement agreement, waiver and release under the Severance Plan (a “Release”), your stock option (whether vested or unvested)
becomes vested and exercisable as of the date of your termination of employment and may be exercised at any time until the earlier of (a) one-hundred and eighty (180) days following your

	 	 
termination of employment under the Severance Plan and (b) the Expiration Date. If you are eligible for a Normal, Early, or Postponed Retirement Pension upon termination of employment under
the Severance Plan, your stock option (whether vested or unvested) becomes vested and exercisable as of the date of your termination of employment and may be exercised at any time until the earlier of (a) five (5) years following the
effective date of your retirement and (b) the Expiration Date. You should be aware that an unexercised incentive stock option automatically converts into a non-qualified stock option three (3) months after termination of employment in
these circumstances pursuant to the applicable provisions of the Code relating to incentive stock options. 

  

	 	•	 	 Other Termination of Employment. Except as set forth below, if (a) your employment by the Corporation and its Subsidiaries
terminates for any reason other than death, retirement or a severance under the Severance Plan for which you have executed and not revoked a Release, (b) you are not terminated from the Plan due to disability pursuant to the
“Disability” provisions described above, and (c) you were not both a Management Group member on the date of grant and age 55 with 10 years of employment with the Corporation and its Subsidiaries on your date of termination, your stock
option, if and to the extent vested as of the date of your termination of employment, may be exercised at any time until the earlier of (i) three (3) months following the date of your termination of employment and (ii) the Expiration
Date. Your stock option, if and to the extent unvested as of the date of your termination of employment, expires as of the date of your termination of employment. A termination of employment shall not be deemed to occur by reason of your transfer
between the Corporation and a Subsidiary of the Corporation or between two Subsidiaries of the Corporation. If you meet the criteria of each of clauses (a), (b), and (c), above, the post-termination exercise provision of this sub-paragraph shall
apply to you if you become a consultant to the Corporation or a Subsidiary of the Corporation upon termination of your employment from the Corporation or a Subsidiary of the Corporation. Notwithstanding the foregoing, if, within the two-year period
following a Change in Control, you meet the criteria of each of clauses (a), (b), and (c) above, then (except as may otherwise be specified in an Employment Security Agreement between you and the Corporation), your stock option, to the extent
vested, may be exercised at any time until the earlier of (I) six (6) months following the date of your termination of employment, and (II) the Expiration Date; provided, however, you should be aware that an unexercised incentive stock
option automatically converts into a non-qualified stock option three (3) months after termination of employment in connection with a Change of Control pursuant to the applicable provisions of the Code relating to incentive stock options.

  

	4.	Re-Employment. If, after your termination of employment, you are re-employed by the Corporation or one of its Subsidiaries, upon your return you will be
considered a new hire for purposes of the Plan. Options that previously expired upon your termination of employment remain expired and are not reinstated. 

	5.	Exercise of Options. 

  

	 	•	 	 How to Exercise. You may exercise your stock option, in any manner described in Section 6(e) of the Plan, through the H. R. Service
Center at (800) 807-0302 or online through My Place. Inquiry and modeling capabilities are also available online. 

  

	 	•	 	 Black-out Period. Due to federal securities law concerns, the Corporation has a “black-out” policy which restricts any exercise
of your stock option around quarterly corporate earnings announcements. Please refer to the “Statement of Confidential Information and Securities Trading” for further information about the Corporation’s black-out policy. You may
access this document online through My Passport. From the homepage click on Corporate-wide Services, and then Corporate Policies. 

  

	6.	Nontransferability. Your stock option is not transferable other than as provided in these Terms and Conditions. Your stock option (whether a non-qualified
stock option or an incentive stock option) is exercisable, during your lifetime, only by you or your personal representative. 

  

	7.	Withholding/Delivery of Shares. Delivery of shares of Common Stock upon exercise of your stock option is subject to the withholding of all applicable
federal, state, and local taxes. At your election, subject to such rules and limitations as may be established by the Committee, such withholding obligations shall be satisfied: (i) by cash payment by you; (ii) through the surrender of
shares of Common Stock which you already own that are acceptable to the Committee; or (iii) through surrender of shares of Common Stock to which you are otherwise entitled under the Plan, provided, however, that such shares under this clause
(iii) may be used to satisfy not more than the Corporation’s minimum statutory withholding obligation (based on minimum statutory withholding rates for Federal and state tax purposes, including payroll taxes, that are applicable to such
taxable income). Payment of federal income taxes may be accomplished through a combination of withholding of shares and delivery of previously acquired shares. The Corporation may delay the issuance or delivery of shares of Common Stock if the
Corporation reasonably anticipates that such issuance or delivery will violate federal securities laws or other applicable law, provided that the issuance or delivery is made at the earliest date at which the Corporation reasonably anticipates that
such issuance or delivery will not cause such violation. As an option holder, you have no interest in the shares covered by the option until the shares are actually issued. 

  

	8.	Restricted Activity. Notwithstanding anything to the contrary in these Terms and Conditions, your stock options (whether vested or unvested) shall be
forfeited and the Corporation shall have no obligation to honor the exercise of the stock options by you (or your beneficiary), if, without the written consent of the Corporation, you: 

  

	 	(a)	at any time after the date of these Terms and Conditions, have divulged, directly or indirectly, or used for your own or another’s benefit, any Confidential
Information; or 

	 	(b)	at any time after the date of these Terms and Conditions and through a period of twelve (12) months after you cease to be employed by the Corporation and its
Subsidiaries for any reason, have Solicited, or assisted in the Solicitation of, any Client or Prospective Client; provided, however, that this clause (b) shall not prohibit any Solicitation of any Client or Prospective Client with whom you had
a business relationship prior to the start of your employment with the Corporation and its Subsidiaries, provided no Confidential Information, directly or indirectly, is used in such Solicitation; or 

  

	 	(c)	at any time after the date of these Terms and Conditions and through a period of twelve (12) months after you cease to be employed by the Corporation and its
Subsidiaries for any reason, have solicited, encouraged, advised, induced or caused any employee of the Corporation or any of its Subsidiaries to terminate his or her employment with the Corporation or any of its Subsidiaries, or have provided any
assistance, encouragement, information, or suggestion to any person or entity regarding the solicitation or hiring of any employee of the Corporation or any of its Subsidiaries 

 If you shall have so engaged in any such activity described in clauses (a), (b) or (c) above without the written consent of the
Corporation, your stock options (whether vested or unvested) shall be forfeited to the Corporation by notice in writing to you within a reasonable period of time after the Corporation acquires knowledge of your violation of this Paragraph 8. In
addition, any failure by you to comply with this Paragraph 8 shall entitle the Corporation, as determined by the Committee in its sole discretion, to rescind any exercise, payment or delivery under any stock option occurring within twelve
(12) months prior to, or at any time following, the date of your termination of employment for any reason (including but not limited to termination of employment due to retirement or disability). Upon any such rescission, (1) you shall
immediately pay to the Corporation the amount of any gain realized or payment received, and (2) you shall immediately forfeit to the Corporation any shares of the Corporation’s Common Stock received, in each case as a result of the
rescinded exercise, payment or delivery under any stock options, in such manner and on such terms and conditions as the Committee shall require, and the Corporation shall be entitled, as permitted by applicable law, to deduct from any amounts the
Corporation owes you from time to time the amount of any such gain realized or payment received. “Gain realized” shall be the excess of the fair market value of the Corporation’s Common Stock on the date of exercise over the option
exercise price, multiplied by the number of shares purchased. 
  

	9.	No Contract of Employment. The option grant shall not be deemed to obligate the Corporation or any of its Subsidiaries to continue your employment for any
particular period, nor is employment guaranteed for the length of the vesting schedule set forth in the Option Notice. 

  

	10.	Taxes. Please refer to the “Summary Description of the Amended and Restated Northern Trust Corporation 2002 Stock Plan” for a description of the
U.S. federal income tax consequences affecting non-qualified stock options and incentive stock options. 

	11.	Applicable Law. All questions pertaining to the validity, construction and administration of the Plan and the stock option grants to which the Option
Notice and these Terms and Conditions apply shall be determined in conformity with the laws of the State of Illinois, without regard to the conflict of law provisions of any state. 

  

	12.	Definitions. As provided above, Capitalized terms not defined in the Stock Option Agreement shall have the meanings assigned to them in the Plan. For
purposes of the Stock Option Agreement: 

  

	 	(a)	“Client” means any person or entity with which the Corporation, or any of its Subsidiaries, did business and with which you had contact, or about which you
had access to Confidential Information, during the last twelve (12) months of your employment. 

  

	 	(b)	“Competitive Service or Product” means any service or product: (i) that is substantially similar to or competitive with any service or product that you
created or provided, or of which you assisted in the creation or provision, during your employment by the Corporation or any of its Subsidiaries; or (ii) about which you had access to Confidential Information during your employment by the
Corporation or any of its Subsidiaries. 

  

	 	(c)	“Confidential Information” means any trade secrets or other information, including, but not limited to, any client information (for example, client lists,
information about client accounts, borrowings, and current or proposed transactions), any internal analysis of clients, marketing strategies, financial reports or projections, business or other plans, data, procedures, methods, computer data or
system program or design, devices, lists, tools, or compilation, which relate to the present or planned business of the Corporation or any of its Subsidiaries and which has not been made generally known to the public by authorized representatives of
the Corporation. 

  

	 	(d)	“Prospective Client” means any person or entity to which the Corporation, or any of its Subsidiaries or affiliates, provided, or from which the Corporation,
or any of its Subsidiaries received, a proposal, bid, or written inquiry (general advertising or promotional materials and mass mailings excepted) and with which you had contact, or about which you had access to Confidential Information, during the
last twelve (12) months of your employment. 

  

	 	(e)	“Solicit” and “Solicitation” (with respect to Clients or Prospective Clients) mean directly or indirectly, and without the Corporation’s
written authorization, to invite, encourage, request, or induce (or to assist another to invite, encourage, request or induce) any Client or Prospective Client of the Corporation, or any of its Subsidiaries, to: (i) surrender, redeem or
terminate a product, service or relationship with the Corporation, or any of its Subsidiaries; (ii) obtain any Competitive Service or Product from you or any third party; or (iii) transfer a product, service or relationship from the
Corporation, or any of its Subsidiaries, to you or any third party.

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