Document:

2004 Stock Plan

 Exhibit 10.1 
 SUNTRUST BANKS, INC. 2004 STOCK PLAN 
 AS AMENDED AND RESTATED THROUGH FEBRUARY 12, 2008 
 This document is a restatement of the SunTrust Banks, Inc. 2004 Stock Plan as approved by shareholders on April 20, 2004 that incorporates
amendments adopted by the Board of Directors through February 12, 2008. As noted in this document, some of the amendments are subject to the approval of the shareholders at the annual meeting to be held in April 2008. 
 SECTION 1. BACKGROUND AND PURPOSE 
 The name of this Plan is the SunTrust Banks, Inc. 2004 Stock Plan. The purpose of this Plan is to promote the interests of SunTrust and its Subsidiaries through grants to Employees and Directors of Options to purchase
Stock, grants of Stock Appreciation Rights and grants of Restricted Stock and Stock Units in order (1) to attract and retain Employees and Directors, (2) to provide an additional incentive to each Employee and Director to work to increase
the value of Stock and (3) to provide each Employee and Director with a stake in the future of SunTrust which corresponds to the stake of each of SunTrust’s shareholders. 
 SECTION 2. DEFINITIONS 
 Each term set forth in this
Section 2 shall have the meaning set forth opposite such term for purposes of this Plan and, for purposes of such definitions, the singular shall include the plural and the plural shall include the singular. 
 2.1. Board — means the Board of Directors of SunTrust. 
 2.2. Change in Control — means a change in control of SunTrust of a nature that would be required to be reported in response
to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act as in effect at the time of such “change in control”, provided that such a change in control shall be deemed to have occurred at such time as
(i) any “person” (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly, of securities representing 20% or
more of the combined voting power for election of directors of the then outstanding securities of SunTrust or any successor of SunTrust; (ii) during any period of two consecutive years or less, individuals who at the beginning of such period
constitute the Board cease, for any reason, to constitute at least a majority of the Board, unless the election or nomination for election of each new director was approved by a vote of at least two-thirds of the directors then still in office who
were directors at the beginning of the period; (iii) the shareholders of SunTrust approve any reorganization, merger, consolidation or share exchange as a result of which the common stock of SunTrust shall be changed, converted or exchanged
into or for securities of another corporation (other than a merger with a wholly-owned subsidiary of SunTrust) or any dissolution or liquidation of SunTrust or any sale or the disposition of 50% or more of the assets or business of SunTrust; or
(iv) the shareholders of SunTrust approve any reorganization, merger, consolidation or share exchange unless (A) the persons who were the beneficial owners of the outstanding shares of the common stock of SunTrust immediately before the
consummation of such transaction beneficially own more than 65% of the outstanding shares of the common stock of the successor or survivor corporation in such transaction immediately following the consummation of such transaction and (B) the
number of shares of the common stock of such successor or survivor corporation beneficially owned by the persons described in Section 2.2(iv)(A) immediately following the consummation of such transaction is beneficially owned by each such
person in substantially the same proportion that each such person had beneficially owned shares of SunTrust common stock immediately before the consummation of such transaction, provided (C) the percentage described in Section 2.2(iv)(A)
of the beneficially owned shares of the successor or survivor corporation and the number described in Section 2.2(iv)(B) of the beneficially owned shares of the successor or survivor corporation shall be determined exclusively by reference to
the shares of the successor or survivor corporation which result from the beneficial ownership of shares of common stock of SunTrust by the persons described in Section 2.2(iv)(A) immediately before the consummation of such transaction.

 2.3. Code — means the Internal Revenue Code of 1986, as amended. 
 2.4. Committee — means a Committee of the Board to which the responsibility to administer this Plan is delegated by the Board
and which shall consist of at least two members of the Board, each of whom shall be a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act and each of whom shall be (or be treated as) an “outside
director” for purposes of Section 162(m) of the Code. 
  

 1 

 2.5. Covered Employee — means an Employee whom the Committee on the date he
or she is granted an Option, an SAR, Restricted Stock or Stock Units deems likely to be a “covered employee” (within the meaning of Section 162(m) of the Code) as of any date on or after the date of such grant. 
 2.6. Director — means a member of the Board who is not an employee of SunTrust or any Subsidiary or Parent Corporation.

 2.7. Employee — means a select employee of SunTrust or any Subsidiary whose performance is, in the judgment of
the Committee acting in its absolute discretion, directly or indirectly material to the success of SunTrust or such Subsidiary and who is not a Ten Percent Shareholder. 
 2.8. Exchange Act — means the Securities Exchange Act of 1934, as amended. 
 2.9 Fair Market Value — means (1) the closing price on any date for a share of Stock as reported by The Wall Street Journal under the New York Stock Exchange Composite Transactions quotation
system (or under any successor quotation system) or, if Stock is no longer traded on the New York Stock Exchange, under the quotation system under which such closing price is reported or, if The Wall Street Journal no longer reports such
closing price, such closing price as reported by a newspaper or trade journal selected by the Committee or, if no such closing price is available on such date, (2) such closing price as so reported in accordance with Section 2.9(1) for the
immediately preceding business day, or, if no newspaper or trade journal reports such closing price, (3) the price which the Committee acting in good faith determines through any reasonable valuation method that a share of Stock might change
hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of the relevant facts. If the closing price for a share of Stock is misquoted or omitted by the applicable
publication, the Committee shall directly solicit the information from officials of the stock exchange or from other informed independent market sources. 
 2.10. ISO — means an Option granted under Section 7 of this Plan to purchase Stock which is evidenced by an Option Agreement which provides that the Option is intended to satisfy the requirements for
an incentive stock option under Section 422 of the Code. 
 2.11. NQO — means an Option granted under
Section 7 of this Plan to purchase Stock which is evidenced by an Option Agreement which provides that the Option shall not be treated as an incentive stock option under Section 422 of the Code. 
 2.12. Option — means an ISO or a NQO. 
 2.13. Option Agreement — means the written agreement or instrument which sets forth the terms of an Option granted to an Employee or Director under this Plan. 
 2.14. Option Price — means the price which shall be paid to purchase one share of Stock upon the exercise of an Option
granted under this Plan. 
 2.15. Parent Corporation — means any corporation which is a parent corporation
(within the meaning of Section 424(e) of the Code) of SunTrust. 
 2.16. Plan — means this SunTrust Banks,
Inc. 2004 Stock Plan, as amended from time to time. 
 2.17. Predecessor Plan — means the SunTrust Banks, Inc.
2000 Stock Plan as in effect on the effective date of this Plan and as thereafter amended. 
 2.18. Restricted Stock
— means Stock granted to an Employee or Director pursuant to Section 8 of this Plan. 
 2.19. Rule 16b-3
— means the exemption under Rule 16b-3 to Section 16(b) of the Exchange Act or any successor to such rule. 
  

 2 

 2.20. Stock — means the One Dollar ($1.00) par value common stock of
SunTrust. 
 2.21. Stock Agreement — means the written agreement or instrument which sets forth the terms of a
Restricted Stock grant or Stock Unit grant to an Employee or Director under this Plan. 
 2.22. Stock Appreciation Right
or SAR — means a right which is granted pursuant to the terms of Section 7 of this Plan to the appreciation in the Fair Market Value of a share of Stock in excess of the SAR Share Value for such a share. 
 2.23. SAR Agreement — means the written agreement or instrument which sets forth the terms of a SAR granted to an Employee
under this Plan. 
 2.24. SAR Share Value — means the figure which is set forth in each SAR Agreement and which
is no less than the Fair Market Value of a share of Stock on the date the related SAR is granted. 
 2.25. Stock Unit
— means a contractual right granted to an Employee or Director pursuant to Section 8 to receive a cash payment based on the Fair Market Value of the number of shares of Stock described in such grant. 
 2.26. Subsidiary — means any corporation which is a subsidiary corporation (within the meaning of Section 424(f) of the
Code) of SunTrust except a corporation which has subsidiary corporation status under Section 424(f) of the Code exclusively as a result of SunTrust or a SunTrust subsidiary holding stock in such corporation as a fiduciary with respect to any
trust, estate, conservatorship, guardianship or agency. 
 2.27. SunTrust — means SunTrust Banks, Inc., a Georgia
corporation, and any successor to such corporation. 
 2.28. Ten Percent Shareholder — means a person who owns
(after taking into account the attribution rules of Section 424(d) of the Code) more than ten percent of the total combined voting power of all classes of stock of either SunTrust, a Subsidiary or a Parent Corporation. 
 SECTION 3. SHARES RESERVED UNDER PLAN 
 3.1. Shares. There shall (subject to Section 11) be reserved for issuance under this Plan (a) 19,000,000 shares of Stock plus (b) the number of shares of Stock which would remain available for
issuance under the Predecessor Plan if shares were issued on the effective date of this Plan sufficient to satisfy all grants then outstanding under the Predecessor Plan plus (c) the number of shares of Stock subject to grants under the
Predecessor Plan which are outstanding on the effective date of this Plan and which are forfeited or expire on or after such effective date in accordance with the terms of such grants; provided, however, only the shares of Stock described in
Section 3.1(a) shall be issued in connection with the exercise of ISOs and nothing in this Plan shall affect any grants under the Predecessor Plan which are outstanding on the effective date of this Plan until such time, if any, that any shares
of Stock subject to such grants are forfeited or grants respecting any shares of Stock expire on or after such effective date in accordance with the terms of such grants. 
 3.2. Source of Shares. The shares of Stock described in Section 3.1 shall be reserved to the extent that SunTrust deems appropriate from authorized but unissued shares of Stock and
from shares of Stock which have been reacquired by SunTrust. Furthermore, any shares of Stock issued pursuant to a Restricted Stock grant which are forfeited thereafter shall again become available for issuance under this Plan, but (a) any
shares of Stock used to satisfy a withholding obligation under Section 14.4 shall not again become available under Section 3.1 for issuance under this Plan, (b) any shares of Stock which are tendered to SunTrust to pay the Option
Price of an Option or which are tendered to SunTrust in satisfaction of any condition to a grant of Restricted Stock shall not become available under Section 3.1 for issuance under this Plan and (c) the number of shares of Stock available
for issuance under Section 3.1 shall be reduced on a share-by-share basis for each SAR granted; provided, however, if an SAR is forfeited, the related share of Stock shall again become available for issuance under this Plan. 
  

 3 

 3.3. Use of Proceeds. The proceeds which SunTrust receives from the sale of any
shares of Stock under this Plan shall be used for general corporate purposes and shall be added to the general funds of SunTrust. 
 3.4. Predecessor Plan. No grants shall be made under the Predecessor Plan on or after the date this Plan becomes effective. 
 SECTION 4. EFFECTIVE DATE 
 This Plan became effective on April 20, 2004, the date the shareholders of
SunTrust (acting at a duly called meeting of such shareholders) approved the adoption of this Plan. The Board of Directors has subsequently amended this Plan and amendments to Sections 3.1 and 8.1(b) are not effective until approved by the
shareholders of SunTrust at the 2008 annual meeting. 
 SECTION 5. COMMITTEE 
 This Plan shall be administered by the Committee. Subject to the provisions of this Plan (including Sections 11, 12, 13 and 14), the
Committee shall have the power, authority, and sole and exclusive discretion to construe, interpret and administer this Plan, including without limitation, the power and authority to make factual determinations relating to Plan grants and correct
mistakes in Option, SAR or Stock Agreements, and to take such other action in the administration and operation of this Plan as the Committee deems equitable under the circumstances. Such actions of the Committee shall be binding on SunTrust, on each
affected Employee and Director and on each other person directly or indirectly affected by such action. The Committee may delegate such powers and duties, whether ministerial or discretionary, as the Committee may deem appropriate, including, but
not limited to, authorizing the Committee’s delegate to execute agreements evidencing the grant of Options, SARs, Restricted Stock and Stock Units or other documents on the Committee’s behalf. 
 SECTION 6. ELIGIBILITY 
 Employees shall be eligible for the grant of Options, SARs, Restricted Stock and Stock Units under this Plan. Directors shall be eligible for the grant of Options, Restricted Stock and Stock Units under this Plan. 
 SECTION 7. OPTIONS AND SARs 
 7.1. Options. The Committee acting in its absolute discretion shall have the right to grant Options to Employees and Directors under this Plan from time to time to purchase shares of Stock, and Options may be granted for any reason
the Committee deems appropriate under the circumstances, including in lieu of compensation otherwise payable in cash. Each grant of an Option shall be evidenced by an Option Agreement, and each Option Agreement shall set forth whether the Option is
an ISO or a NQO and shall set forth such other terms and conditions of such grant as the Committee acting in its absolute discretion deems consistent with the terms of this Plan. All Options granted to Directors shall be NQO. If the exercise of an
Option is subject to the satisfaction of a minimum service and a minimum performance requirement, the minimum service requirement shall be at least 1 year and, if the exercise of an Option is subject to the satisfaction of only a minimum service
requirement, the minimum service requirement shall be at least 3 years unless the Committee in either case determines that a shorter period of service (or no period of service) better serves the interests of SunTrust. 
 7.2. $100,000 Limit. The aggregate Fair Market Value of ISOs granted to an Employee under this Plan and incentive stock options
granted to such Employee under any other stock option plan adopted by SunTrust, a Subsidiary or a Parent Corporation which first become exercisable in any calendar year (which begins on or after January 1, 2004) shall not exceed $100,000. Such
Fair Market Value figure shall be determined by the Committee on the date the ISO or other incentive stock option is granted, and the Committee shall interpret and administer the limitation set forth in this Section 7.2 in accordance with
Section 422(d) of the Code. 
 7.3. Share Limitations. 
 (a) Employees. An Employee may not be granted in any calendar year Options, or SARs, or one or more Options and SARs in any
combination which in the aggregate relate to more than 250,000 shares of Stock. 
 (b) Directors. The Directors as a
group may not over the life of this Plan be issued in the aggregate more than 500,000 nonforfeitable shares of Stock in connection with the exercise of Options and Restricted Stock grants. 
  

 4 

 7.4. Option Price and Exercise Period. 
 (a) Option Price. The Option Price for each share of Stock subject to an Option shall be no less than the Fair Market Value of a
share of Stock on the date the Option is granted. The Option Price shall be payable in full upon the exercise of any Option. Except in accordance with the provisions of Section 11 of this Plan, the Committee shall not, absent the approval of
SunTrust’s shareholders, take any action, whether through amendment, cancellation, replacement grants, exchanges or any other means, to directly or indirectly reduce the Option Price of any outstanding Option or to make a tender offer for any
Option if the Option Price for such Option on the effective date of such tender offer exceeds the Fair Market Value of a share of Stock subject to such Option. 
 (b) Exercise Period. Each Option granted under this Plan shall be exercisable in whole or in part at such time or times as set forth in the related Option Agreement, but no Option
Agreement shall make an Option exercisable before the date such Option is granted or on or after the date which is the tenth anniversary of the date such Option is granted. In the discretion of the Committee, an Option Agreement may provide for the
exercise of an Option after the employment of an Employee or the status of an individual as a Director has terminated for any reason whatsoever, including death or disability. 
 7.5. Method of Exercise. 
 (a) Committee Rules. An Option
may be exercised as provided in this Section 7.5 pursuant to procedures (including, without limitation, procedures restricting the frequency or method of exercise) as shall be established by the Committee or its delegate from time to time for
the exercise of Options. 
 (b) Notice and Payment. An Option shall be exercised by delivering to the Committee or its
delegate during the period in which such Option is exercisable, (1) written notice of exercise in a form acceptable to the Committee indicating the specific number of shares of Stock subject to the Option which are being exercised and
(2) payment in full of the Option Price for such specific number of shares. An Option Agreement, at the discretion of the Committee, may provide for the payment of the Option Price by any of the following means: 
 (1) in cash, electronic funds transfer or a check acceptable to the Committee; 
 (2) in Stock which has been held by the Employee or Director for a period acceptable to the Committee and which Stock is
otherwise acceptable to the Committee, provided that the Committee may impose whatever restrictions it deems necessary or desirable with respect to such method of payment; 
 (3) through a broker-facilitated cashless exercise procedure acceptable to the Committee; or 
 (4) in any combination of the methods described in this Section 7.5(b) which is acceptable to the Committee.

 Any payment made in Stock shall be treated as equal to the Fair Market Value of such Stock on the date the properly endorsed stock
certificate for such Stock is delivered to the Committee or, if payment is effected through a certification of ownership of Stock in lieu of a stock certificate, on the date the Option is exercised. 
 (c) Restrictions. The Committee may from time to time establish procedures for restricting the exercise of Options on any given
date as the result of excessive volume of exercise requests or any other problem in the established system for processing Option exercise requests or for any other reason the Committee or its delegate deems appropriate or necessary. 
 7.6. Nontransferability. Except to the extent the Committee deems permissible under Section 422(b) of the Code and Rule 16b-3
and consistent with the best interests of SunTrust, neither an Option granted under this Plan nor any related surrender rights nor any SAR shall be transferable by an Employee or a Director other than by will or by the laws of descent and
distribution, and any grant by the Committee of a request by an Employee or a Director for any transfer (other than a transfer by will or by the laws of descent and distribution) shall be conditioned on the transfer not being made for value or
consideration. Any such Option grant and surrender 

  

 5 

 
rights under this Plan and any SAR granted under this Plan shall be exercisable during an Employee’s or a Director’s lifetime, as the case may be,
only by (subject to the first sentence in this Section 7.6) the Employee or the Director, provided that in the event an Employee or a Director is incapacitated and unable to exercise such Employee’s or Director’s Option or SAR, such
Employee’s or Director’s legal guardian or legal representative whom the Committee (or its delegate) deems appropriate based on all applicable facts and circumstances presented to the Committee (or its delegate) may exercise such
Employee’s or such Director’s Option or SAR, in accordance with the provisions of this Plan and the applicable Option Agreement or SAR Agreement. The person or persons to whom an Option or a SAR is transferred by will or by the laws of
descent and distribution (or pursuant to the first sentence of this Section 7.6) thereafter shall be treated as the Employee or the Director under this Plan. 
 7.7. SARs and Surrender Rights. 
 (a) SARs and SAR Share
Value. 
 (1) The Committee acting in its absolute discretion may grant an Employee a SAR which will give
the Employee the right to the appreciation in one, or more than one, share of Stock, and any such appreciation shall be measured from the related SAR Share Value. The Committee shall have the right to make any such grant subject to such additional
terms as the Committee deems appropriate, and such terms shall be set forth in the related SAR Agreement. 
 (2) Each SAR granted under this Plan shall be exercisable in whole or in part at such time or times as set forth in the related SAR Agreement, but no SAR Agreement shall make an SAR exercisable before the date such SAR is granted or on or
after the date which is the tenth anniversary of the date such SAR is granted. In the discretion of the Committee, an SAR Agreement may provide for the exercise of an SAR after the employment of an Employee or the status of an individual as a
Director has terminated for any reason whatsoever, including death or disability. 
 (3) Except in accordance
with the provisions of Section 11 of this Plan, the Committee shall not, absent the approval of SunTrust’s shareholders, take any action, whether through amendment, cancellation, replacement grants, exchanges or any other means, to
directly or indirectly reduce the SAR Share Value of any outstanding SAR or to make a tender offer for any SAR if the SAR Share Value for such SAR on the effective date of such tender offer exceeds the Fair Market Value of a share of Stock subject
to such SAR. 
 (4) If the exercise of an SAR is subject to the satisfaction of a minimum service and a
minimum performance requirement, the minimum service requirement shall be at least 1 year and, if the exercise of an SAR is subject to the satisfaction of only a minimum service requirement, the minimum service requirement shall be at least 3 years
unless the Committee in either case determines that a shorter period of service (or no period of service) better serves the interests of SunTrust. 
 (b) Option Surrender Rights. The Committee acting in its absolute discretion also may incorporate a provision in an Option Agreement to give an Employee the right to surrender his or her Option in whole or in
part in lieu of the exercise (in whole or in part) of that Option to purchase Stock on any date that 
 (1)
the Fair Market Value of the Stock subject to such Option exceeds the Option Price for such Stock, and 
 (2)
the Option to purchase such Stock is otherwise exercisable. 
 (c) Procedure. The exercise of a SAR or a surrender
right in an Option shall be effected by the delivery of the related SAR Agreement or Option Agreement to the Committee (or to its delegate) together with a statement signed by the Employee which specifies the number of shares of Stock as to which
the Employee, as appropriate, exercises his or her SAR or exercises his or her right to surrender his or her Option and (at the Employee’s option) how he or she desires payment to be made with respect to such shares. 
 (d) Payment. An Employee who exercises his or her SAR or right to surrender his or her Option shall (to the extent consistent with
an exemption under Rule 16b-3) receive a payment in cash or in Stock, or in a combination of cash and Stock, equal in amount on the date such exercise is effected to (i) the number of shares of Stock with respect to which, as applicable, the
SAR or 

  

 6 

 
the surrender right is exercised times (ii) the excess of the Fair Market Value of a share of Stock on such date over, as applicable, the SAR Share
Value for a share of Stock subject to the SAR or the Option Price for a share of Stock subject to an Option. The Committee acting in its absolute discretion shall determine the form and timing of such payment, and the Committee shall have the right
(1) to take into account whatever factors the Committee deems appropriate under the circumstances, including any written request made by the Employee and delivered to the Committee (or to its delegate) and (2) to forfeit an Employee’s
right to payment of cash in lieu of a fractional share of Stock if the Committee deems such forfeiture necessary in order for the surrender of his or her Option under this Section 7.7 to come within an exemption under Rule 16b-3. Any cash
payment under this Section 7.7 shall be made from SunTrust’s general assets, and an Employee shall be no more than a general and unsecured creditor of SunTrust with respect to such payment. 
 (e) Restrictions. Each SAR Agreement and each Option Agreement which incorporates a provision to allow an Employee to surrender
his or her Option shall incorporate such additional restrictions on the exercise of such SAR or surrender right as the Committee deems necessary to satisfy the conditions to the exemption under Rule 16b-3. 
 SECTION 8. RESTRICTED STOCK AND STOCK UNITS 
 8.1. Committee Action. 
 (a) General. The Committee acting in its absolute
discretion shall have the right to grant Restricted Stock and Stock Units to Employees and Directors under this Plan from time to time. 
 (b) Limitations. Subject to the rules set forth in Section 3 and Section 7.3(b), no more than 7,800,000 nonforfeitable shares of Stock shall be issued pursuant to Restricted Stock grants, and no cash
payments shall be made with respect to more than 7,800,000 shares of Stock pursuant to Stock Unit grants. In addition, no Restricted Stock grant may be made to an Employee in any calendar year with respect to more than 100,000 shares of Restricted
Stock, and the Fair Market Value of the shares of Stock described in any Stock Unit grant to any Employee shall not exceed $1,000,000 on the date as of which the grant is made. Each Restricted Stock grant and each Stock Unit grant shall be evidenced
by a Stock Agreement, and each Stock Agreement shall set forth the conditions, if any, which will need to be timely satisfied before the grant will be effective and the conditions, if any, under which the Employee’s or Director’s interest
in the related Stock or cash payment will be forfeited; provided, if the vesting of a Restricted Stock grant or Stock Unit grant is subject to the satisfaction of a minimum service and a minimum performance requirement, the minimum service
requirement shall be at least 1 year and, if the vesting of a Restricted Stock grant or a Stock Unit grant is subject to the satisfaction of only a minimum service requirement, the minimum service requirement shall be at least 3 years unless the
Committee in either case determines that a shorter period of service (or no period of service) better serves the interests of SunTrust. 
 8.2. Conditions. 
 (a) Issuance Conditions for Restricted Stock. The Committee
acting in its absolute discretion may make the issuance of Restricted Stock to an Employee or Director subject to the satisfaction of one, or more than one, objective employment, performance or other grant condition (which may or may not include
performance criteria described in Section 8.2(c)) which the Committee deems appropriate under the circumstances, and the related Stock Agreement shall set forth each such condition and the deadline for satisfying each such condition.

 (b) Forfeiture Conditions for Restricted Stock and Stock Units. The Committee may make Restricted Stock issued to
an Employee or Director or the cash otherwise payable under any Stock Unit grant subject to one, or more than one, objective employment, performance or other forfeiture condition (which may or may not include any performance goals described in
Section 8.2(c)) which the Committee acting in its absolute discretion deems appropriate under the circumstances, and the related Stock Agreement shall set forth each such forfeiture condition and the deadline for satisfying each such forfeiture
condition. An Employee’s or Director’s nonforfeitable interest in the shares of Stock issued pursuant to a Restricted Stock grant or the cash payment due under any Stock Unit grant shall depend on the extent to which each such condition is
timely satisfied. Each share of Stock issued pursuant to a Restricted Stock grant shall again become available under Section 3 if such share is forfeited as a result of a failure to timely satisfy a forfeiture condition, in which event such
share of Stock shall again become available under Section 3 as of the date of such failure. When a Stock certificate is issued for shares of Restricted Stock, such certificate shall be issued subject to (i) the conditions, if any,
described in this Section 8.2(b) and Section 8.2(c) to, or for the benefit of, the Employee or Director and (ii) a stock power in favor of SunTrust in order for SunTrust to effect any forfeitures of such Restricted Stock called for
under this Section 8.2(b). 
  

 7 

 (c) Performance Goals. 
 (1) A performance goal is described in this Section 8.2(c) if such goal relates to (i) SunTrust’s return
over capital costs or increases in return over capital costs, (ii) SunTrust’s total earnings or the growth in such earnings, (iii) SunTrust’s consolidated earnings or the growth in such earnings, (iv) SunTrust’s
earnings per share or the growth in such earnings, (v) SunTrust’s net earnings or the growth in such earnings, (vi) SunTrust’s earnings before interest expense, taxes, depreciation, amortization and other non-cash items or the
growth in such earnings, (vii) SunTrust’s earnings before interest and taxes or the growth in such earnings, (viii) SunTrust’s consolidated net income or the growth in such income, (ix) the value of SunTrust’s Stock or
the growth in such value, (x) SunTrust’s Stock price or the growth in such price, (xi) SunTrust’s return on assets or the growth on such return, (xii) SunTrust’s total shareholder return or the growth in such return,
(xiii) SunTrust’s expenses or the reduction of expenses, (xiv) SunTrust’s sales growth, (xv) SunTrust’s overhead ratios or changes in such ratios, (xvi) SunTrust’s expense-to-sales ratios or the changes in
such ratios, (xvii) SunTrust’s economic value added or changes in such value added, or (xviii) such other financial performance measures deemed appropriate by the Committee. A performance goal described in this Section 8.2(c)(1)
may be set in any manner determined by the Committee, including looking to achievement on an absolute or relative basis in relation to peer groups or indexes, and may relate to SunTrust as a whole or one or more operating units of SunTrust.

 (2) When the Committee determines whether a performance goal has been satisfied for any period, the
Committee may exclude any or all “extraordinary items” as determined under U.S. generally accepted accounting principles and any other unusual or non-recurring items, including, without limitation, the charges or costs associated with
restructurings of SunTrust, discontinued operations, and the cumulative effects of accounting changes. The Committee may also adjust any performance goal for a period as it deems equitable in recognition of unusual or non-recurring events affecting
SunTrust, changes in applicable tax laws or accounting principles, or such other factors as the Committee may determine (including, without limitation, any adjustments that would result in SunTrust paying non-deductible compensation to an Employee).

 (3) If the Committee determines that a performance goal has been satisfied and the satisfaction of such
goal was intended to meet the requirements of Section 162(m) of the Code, the Committee shall certify that the goal has been satisfied in accordance with the requirements set forth under such section of the Code. 
 8.3. Dividends and Voting Rights. 
 (a) Cash Dividends. Each Stock Agreement which evidences a Restricted Stock grant shall state whether the Employee or Director shall have a right to receive any cash dividends which are paid after any shares of
Restricted Stock are issued to him or to her and before the first day that the Employee’s or Director’s interest in such Stock is forfeited completely or becomes completely nonforfeitable. If such a Stock Agreement provides that an
Employee or Director has no right to receive a cash dividend when paid, such agreement shall set forth the conditions, if any, under which the Employee or Director will be eligible to receive one, or more than one, payment in the future to
compensate the Employee or Director for the fact that he or she had no right to receive any cash dividends on his or her Restricted Stock when such dividends were paid. If such a Stock Agreement calls for any such payments to be made, SunTrust shall
make such payments from SunTrust’s general assets, and the Employee or Director shall be no more than a general and unsecured creditor of SunTrust with respect to such payments. Unless otherwise set forth in the Stock Agreement which evidences
a Stock Unit grant, if a cash dividend is paid on the shares of Stock described in a Stock Unit grant, such cash dividend shall be treated as reinvested in shares of Stock and shall increase the number of shares of Stock described in such Stock Unit
grant. 
 (b) Stock Dividends. If a Stock dividend is declared on a share of Restricted Stock, such Stock dividend
shall be treated as part of the grant of the related Restricted Stock, and an Employee’s or Director’s interest in such Stock dividend shall be forfeited or shall become nonforfeitable at the same time as the Stock with respect to which
the Stock dividend was paid is forfeited or becomes nonforfeitable. Unless otherwise set forth in the Stock Agreement which evidences a Stock Unit grant, if a Stock dividend is declared on any shares of Stock described in a Stock Unit grant, such
dividend shall increase the number of shares of Stock described in such Stock Unit grant. 
  

 8 

 (c) Non-cash and Non-Stock Dividends. If a dividend is paid on a share of
Restricted Stock or on a share of Stock described in a Stock Unit grant other than in cash or Stock, the disposition of such dividend with respect to such Restricted Stock grant and the treatment of such dividend with respect to such Stock Unit
grant shall be effected in accordance with such rules as the Committee shall adopt with respect to each such dividend. 
 (d)
Voting Rights. An Employee or Director shall have the right to vote shares of Restricted Stock which have been issued pursuant to Section 8.2(b) before his or her interest in such Stock has been forfeited or has become nonforfeitable.

 (e) Nontransferability. No Restricted Stock grant and no shares issued pursuant to a Restricted Stock grant shall
be transferable by an Employee or a Director other than by will or by the laws of descent and distribution before an Employee’s or Director’s interest in such shares have become completely nonforfeitable, and no interests in a Stock Unit
grant shall be transferable other than by will or the laws of descent and distribution except as otherwise provided in the related Stock Agreement. 
 (f) Creditor Status. An Employee or a Director to whom a Stock Unit is granted shall be no more than a general and unsecured creditor of SunTrust with respect to any cash payment due under such grant.

 8.4 Satisfaction of Forfeiture Conditions. A share of Stock shall cease to be Restricted Stock at such time as an
Employee’s or Director’s interest in such Stock becomes nonforfeitable under this Plan, and the certificate representing such share shall be reissued as soon as practicable thereafter without any further restrictions related to
Section 8.2(b) or Section 8.3 and shall be transferred to the Employee or Director. 
 SECTION 9. SECURITIES REGISTRATION 

 Each Option Agreement, SAR Agreement and Stock Agreement shall provide that, upon the receipt of shares of Stock as a
result of the exercise of an Option (or any related surrender right) or a SAR or the satisfaction of the forfeiture conditions under a Stock Agreement for Restricted Stock, the Employee or Director shall, if so requested by SunTrust, hold such
shares of Stock for investment and not with a view of resale or distribution to the public and, if so requested by SunTrust, shall deliver to SunTrust a written statement satisfactory to SunTrust to that effect. As for Stock issued pursuant to this
Plan, SunTrust at its expense shall take such action as it deems necessary or appropriate to register the original issuance of such Stock to an Employee or Director under the Securities Act of 1933, as amended, or under any other applicable
securities laws or to qualify such Stock for an exemption under any such laws prior to the issuance of such Stock to an Employee or Director; however, SunTrust shall have no obligation whatsoever to take any such action in connection with the
transfer, resale or other disposition of such Stock by an Employee. 
 SECTION 10. LIFE OF PLAN 
 No Option or SAR or Restricted Stock or Stock Unit shall be granted under this Plan on or after the earlier of 
 (1) the tenth anniversary of the date the Board adopts this Plan, in which event this Plan otherwise thereafter shall
continue in effect until all outstanding Options (and any related surrender rights) and SARs have been exercised in full or no longer are exercisable and all Restricted Stock and Stock Unit grants under this Plan have been forfeited or the
forfeiture conditions on the related Stock or cash payments have been satisfied in full, or 
 (2) the date on
which all of the Stock reserved under Section 3 of this Plan has (as a result of the exercise of all Options (and any related surrender rights) and all SARs granted under this Plan and the satisfaction of the forfeiture conditions on Restricted
Stock) been issued or no longer is available for use under this Plan and all cash payments due under any Stock Unit grants have been paid or forfeited, in which event this Plan also shall terminate on such date. 
 SECTION 11. ADJUSTMENT 
 11.1. Capital Structure. The number, kind or class (or any combination thereof) of shares of Stock reserved under Section 3 of this Plan, the grant limitations described in Section 7.3 and Section 8.1 of this Plan, the
number, kind or class (or any combination thereof) of shares of Stock subject to Options or SARs granted under this Plan and the Option Price of such Options and the SAR 

  

 9 

 
Share Value of such SARs as well as the number, kind or class of shares of Stock subject to Restricted Stock grants and the number, kind or class of shares
of Stock described in Stock Unit grants under this Plan shall be adjusted by the Board in an equitable manner to reflect any change in the capitalization of SunTrust, including, but not limited to, such changes as stock dividends or stock splits.

 11.2. Mergers. The Board as part of any corporate transaction described in Code Section 424(a) shall have the
right to adjust (in any manner which the Board in its discretion deems consistent with Code Section 424(a)) the number, kind or class (or any combination thereof) of shares of Stock reserved under Section 3 of this Plan and the grant
limitations described in Section 7.3 and Section 8.1 of this Plan. Furthermore, the Board as part of any corporate transaction described in Code Section 424(a) shall have the right to adjust (in any manner which the Board in its
discretion deems consistent with Code Section 424(a)) the number, kind or class (or any combination thereof) of shares of Stock underlying any Restricted Stock and Stock Unit grants previously made under this Plan and any related grant
conditions and forfeiture conditions, and the number, kind or class (or any combination thereof) of shares subject to Option and SAR grants previously made under this Plan and the related Option Price and SAR Share Value for each such Option and
SAR, and, further, shall have the right (in any manner which the Board in its discretion deems consistent with Code Section 424(a) and without regard to the grant limitations described in Section 7.3 or Section 8.1 of this Plan) to
make Restricted Stock, Stock Unit, Option and SAR grants to effect the assumption of, or the substitution for, restricted stock, stock unit, option and stock appreciation right grants previously made by any other corporation to the extent that such
corporate transaction calls for such substitution or assumption of such restricted stock, stock unit, option or stock appreciation rights grants. 
 11.3. Fractional Shares. If any adjustment under this Section 11 would create a fractional share of Stock or a right to acquire a fractional share of Stock, such fractional share shall be disregarded and
the number of shares of Stock reserved under this Plan and the number subject to any Options, SAR grants and Restricted Stock grants shall be the next lower number of shares of Stock, rounding all fractions downward. Any adjustment made under this
Section 11 by the Board shall be conclusive and binding on all affected persons. 
 SECTION 12. CHANGE IN CONTROL 
 If there is a Change in Control and the Board determines that no adequate provision has been made as part of such Change in Control for
either the assumption of the Options, SARs, Restricted Stock and Stock Unit grants outstanding under this Plan or for the granting of comparable, substitute stock options, stock appreciation rights and restricted stock and stock unit grants,
(1) each outstanding Option and SAR at the direction and discretion of the Board (a) may (subject to such conditions, if any, as the Board deems appropriate under the circumstances) be cancelled unilaterally by SunTrust in exchange for the
number of whole shares of Stock (and cash in lieu of a fractional share), if any, which each Employee would have received if on the date set by the Board he or she had exercised his or her SAR in full or if each Employee’s and each
Director’s Option included a right to surrender his or her outstanding Option in full under Section 7.7 of this Plan and such Option had been surrendered in full or (b) may be cancelled unilaterally by SunTrust if the Option Price or
SAR Share Value equals or exceeds the Fair Market Value of a share of Stock on such date and (2) the conditions, if any, for the issuance of Restricted Stock and the conditions, if any, for making nonforfeitable all outstanding Restricted Stock
grants and all Stock Unit grants may be deemed completely satisfied on the date set by the Board. 
 SECTION 13. AMENDMENT OR TERMINATION

 This Plan may be amended by the Board from time to time to the extent that the Board deems necessary or appropriate;
provided, however, no such amendment shall be made absent the approval of the shareholders of SunTrust to the extent such approval is required under applicable law, Code Section 422, Rule 16b-3 or any applicable stock exchange rule. The Board
also may suspend the granting of Options, SARs, Restricted Stock and Stock Units under this Plan at any time and may terminate this Plan at any time. The Board or the Committee shall have the right to modify, amend or cancel (retroactively or
prospectively) any Option, SAR, Restricted Stock or Stock Unit granted before such suspension or termination if (1) the Employee or Director consents in writing to such modification, amendment or cancellation (except that in no case can Options
be repriced either by cancellation and regrant or by lowering the exercise price of a previously granted award) or (2) there is a dissolution or liquidation of SunTrust or a transaction described in Section 11 or Section 12 of this
Plan. Suspension or termination of the Plan shall not affect the Committee’s ability to exercise the powers granted to it with respect to Options, SARs or surrender rights, Restricted Stock or Stock Units granted under this Plan prior to the
date of such suspension or termination. 
  

 10 

 SECTION 14. MISCELLANEOUS 
 14.1. Shareholder Rights. No Employee or Director shall have any rights as a shareholder of SunTrust as a result of the grant of an Option or a SAR under this Plan or his or her exercise
of such Option or SAR pending the actual delivery of the Stock subject to such Option to such Employee or Director. Subject to Section 8.4, an Employee’s or Director’s rights as a shareholder in the shares of Stock related to a
Restricted Stock grant which is effective shall be set forth in the related Stock Agreement. 
 14.2. No Contract of
Employment or Director Status. The grant of an Option, SAR, Restricted Stock or Stock Unit to an Employee or a Director under this Plan shall not constitute a contract of employment or an agreement to continue his or her status as an Employee or
a Director and shall not confer on an Employee or Director any rights in addition to those rights, if any, expressly set forth in the Option Agreement which evidences his or her Option, the SAR Agreement which evidences his or her SAR or the Stock
Agreement related to his or her Restricted Stock or Stock Unit grant. 
 14.3. Share Retention Guidelines. Shares of
Stock acquired by an Employee under this Plan upon the exercise of an Option (or related surrender rights) or SAR or upon a grant of Restricted Stock becoming nonforfeitable may be subject to share retention guidelines established by SunTrust.

 14.4. Withholding. The exercise of any Option or SAR granted under this Plan and the acceptance of a Restricted
Stock or Stock Unit grant shall constitute an Employee’s or Director’s full and complete consent to whatever action the Committee deems necessary to satisfy the minimum federal and state tax withholding requirements, if any, which the
Committee acting in its discretion deems applicable to such exercise or such Restricted Stock or Stock Unit grant. The Committee also shall have the right to provide in an Option Agreement, SAR Agreement or Stock Agreement that an Employee or
Director may elect to satisfy minimum federal and state tax withholding requirements, if any, through a reduction in the number of shares of Stock actually transferred, or the cash payments to be made, to him or to her under this Plan, and any such
election and any such reduction shall be effected so as to satisfy the conditions to the exemption under Rule 16b-3. 
 14.5
Construction. 
 (a) Governing Law. This Plan shall be construed under the laws of the State of Georgia
(excluding its choice-of-law rules) to the extent not superseded by federal law. 
 (b) Invalid Provisions. In the
event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision
had not been included. 
 (c) Conflicts. In the event of a conflict between the terms of this Plan and any Option
Agreement, Stock Agreement or SAR Agreement, the terms of the Plan shall prevail. 
  

 11Warrant Certificate dated July 19, 2007

 Exhibit 4.1 
 These Warrants have not been registered under the Securities Act of I 933, as amended (the “Securities Act), and may not he sold, transferred, assigned or otherwise disposed of unless the person requesting the transfer of the Warrants
shall provide an opinion of counsel to North American Royalty Corp (the “Company”) (both counsel and opinion to be satisfactory to the Company) to the effect that such sale, transfer, assignment or disposition will not involve any
violation of the registration provisions of the Securities Act or any similar or superseding statute. 
  

			
	 No. 1
	  	100,000 Warrants

 North American Royalty Corp 
 WARRANT CERTIFICATE 
 This warrant certificate (“Warrant Certificate”)
certifies that for value received Eagle Equity I, LP (the “Initial Warrant Holder”) or registered assigns is the owner of the number of Warrant No. 1 above, each of which entitles the holder thereof to purchase, at any time on or
before the Expiration Date hereinafter provided, one fully paid and non-assessable share of Common Stock, $0.001 par value per share, of North American Royalty Corp, a Maryland corporation (the “Company”), at a purchase price of $3.00 per
share of Common Stock payable in lawful money of the United States of America, in cash, by official bank or certified check, or by wire transfer (“Warrants”). 
 1. Warrant; Purchase Price 
 Each Warrant shall entitle the holder thereof to purchase one share of
Common Stock, $0.001 par value per share, of the Company (“Common Stock”) during the period commencing on the date hereof and ending on the Expiration Date. The purchase price payable upon exercise of a Warrant shall be $3.00 per share
(the “Purchase Price”). The Purchase Price and number of Warrants evidenced by this Warrant Certificate are subject to adjustment as provided in Article 7. Common Stock purchased or subject to purchase pursuant to the Warrants shall be
called “Warrant Shares” herein. 
 2. Exercise; Expiration Date 
 2. 1 Each Warrant is exercisable, at the option of the holder, at any time after issuance and on or before the Expiration Date. In the case of exercise of
less than all the Warrants represented by a Warrant Certificate, the Company shall cancel the Warrant Certificate upon the surrender thereof and shall execute and deliver a new Warrant Certificate for the balance of such Warrants. 
 2.2 The term “Expiration Date” shall mean 5:00 p.m. Dallas time on the third (3rd anniversary date of this Warrant, or if such date shall in the State of Texas be a holiday or a day on which banks are authorized to close, then 5:00 p.m.
Dallas time the next following day which in the State of Texas is not a holiday or a day on which banks are authorized to close. 

 3. Registration and Transfer on Company Books 
 3.1 The Company shall maintain books for the registration and transfer of Warrant Certificates. 
 3.2 Prior to due presentment for registration of transfer of this Warrant Certificate, the Company may deem and treat the registered holder as the
absolute owner thereof. 
 3.3 The Company shall register upon its books any transfer of a Warrant Certificate upon surrender of same to the
Company accompanied (if so required by the Company) by a written instrument of transfer duly executed by the registered holder or by a duly authorized attorney. Upon any such registration of transfer, new Warrant Certificate(s) shall be issued to
the transferee(s) and the surrendered Warrant Certificate shall be cancelled by the Company. A Warrant Certificate may also be exchanged, at the option of the holder, for new Warrant Certificates representing in the aggregate the number of Warrants
evidenced by the Warrant Certificate surrendered. 
 4. Securities Law Registration 
 4.1 The Warrant Shares will not be registered under the Securities Act or any state securities law and shall not be transferable unless registered or an
exemption from registration is available. A legend to the foregoing effect will be placed on any certificate representing such shares. 
 4.2
If, at any time prior to the Expiration Date of this Warrant Certificate, the Company proposes for any reason to register any of its securities under the Securities Act other than a registration on Form S-8 relating solely to employee stock option
or purchase plans, on Form S-4 relating solely to an SEC Rule 145 transaction, on Form S-4 relating solely to the merger or consolidation of the Company with another entity, or on any other form which does not include substantially the same
information as would be required to be included in a registration statement covering the sale of the Warrant Shares, it shall each such time give written notice to the holder of these Warrants or the Warrant Shares (“Holder” for purposes
of this Section 4) of the Company’s intention to register such securities, and, upon the written request, given within thirty (30) days after receipt of any such notice, of the Holders of the Warrants and Warrant Shares outstanding,
to include any of the Warrant Shares in such registration, the Company shall cause the Warrant Shares so requested by the Holder to be registered, whether such Warrant Shares are outstanding or subject to purchase hereby, to be included in such
registration, all to the extent requisite to permit the sale or other disposition by the Holder of the Warrant Shares so registered; provided, however, that the Warrant Shares as to which registration had been requested need not be included in such
registration if in the opinion of counsel for the Company the proposed transfer by the Holder may be effected without registration under the Securities Act and any certificate evidencing the Warrant Shares need not bear any restrictive legend. In
the event that any registration pursuant to this Section 4.2 shall be, in whole or in part, an underwritten offering of securities of the Company, then (i) any request pursuant to this Section 4.2 to register Warrant Shares may
specify that such shares are to be 

 
included in the underwriting on the same terms and conditions as the shares of the Company’s capital stock otherwise being sold through underwriters
under such registration, (ii) if the managing underwriter of such offering determines that the number of shares to be offered by all selling shareholders must be reduced, then the Company shall have the right to reduce the number of shares
registered on behalf of the Holder, provided that the number of shares to be registered on behalf of the Holder shall not be reduced to such an extent that the ratio of the shares which the Holder is permitted to register to the total number of
shares the Holder owns is less than that ratio for any other selling shareholder, and (iii) the Holder will be hound by the terms of the underwriting agreement and the conditions imposed by the underwriter on selling shareholders. 

4.3 If and whenever the Company is under an obligation pursuant to the provisions of this Warrant Certificate to register any Warrant Shares, the
Company shall, as expeditiously as practicable: 
 (a) prepare and file with the Securities and Exchange Commission (the
“Commission”) a registration statement with respect to such shares and use its best efforts to cause such registration statement to become and remain effective for at least nine (9) months; 
 (b) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement effective for at least nine months and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all Warrant Shares covered by
such registration statement; 
 (c) furnish to the Holder a suitable number of copies of all preliminary and final
prospectuses to enable the Holder to comply with the requirements of the Securities Act, and such other documents as the Holder may reasonably request in order to facilitate the public sale or other disposition of the Warrant Shares; 
 ( d) use its best efforts to register or qualify the Warrant Shares covered by such registration statement under such securities or blue
sky laws of such jurisdictions as the Holder shall reasonably request and where registration or qualification will not involve unreasonable expense or delay and provided, however, that the Company will not have to register or qualify in any state in
which solely because of such registration or qualification it would have to qualify to do business; and the Company shall do any and all other reasonable acts and things which may be necessary or advisable to enable the Holder to consummate the
public sale or other disposition of the Warrant Shares in such jurisdictions; 
 (e) notify the Holder, at any time when a
prospectus relating to the Warrant Shares is required to be delivered under the Securities Act within the appropriate period mentioned in clause (h) of this Section 4.3, of the happening of any event as a result of which the prospectus
included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated 

 
therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and at the request of the Holder prepare
and finish to the Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of the Warrant Shares, such prospectus shall not include an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; and 
 (f) exercise its best efforts to furnish, at the request of the Holder on the date that the Warrant Shares are delivered to the
underwriters for sale pursuant to such registration or, if the Warrant Shares are not being sold through underwriters, on the date that the registration statements with respect to such Warrant Shares are declared effective, (1) an opinion,
dated such date, of the counsel representing the Company for the purposes of such registration, addressed to the Holder, stating that such registration statement has become effective under the Securities Act and that (i) to the best of the
knowledge of such counsel, no stop order suspending the effectiveness thereof has been issued and no proceedings for that purpose have been instituted or are pending or contemplated under the Securities Act; (ii) the registration statement, the
related prospectus, and each amendment or supplement thereto, comply as to form in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder (except that such counsel need
express no opinion as to financial statements and other financial data contained therein); and (iii) such counsel has no reason to believe that either the registration statement or the prospectus, or any amendment or supplement thereto,
contains any untrue statement of a material fact or omits to state a material fact required to he stated therein or necessary to make the statements therein not misleading; and (2) a letter dated such date, from the independent certified public
accountants of the Company, stating that they are independent certified public accountants within the meaning of the Securities Act and the rules and regulations of the Commission thereunder and that in the opinion of such accountants, the financial
statements and other financial data of the Company included in the registration statement or the prospectus, or any amendment or supplement thereof, comply as to form in all material respects with the applicable accounting requirements of the
Securities Act and the rules and regulations of the Commission thereunder. Such letter from the independent certified public accountants shall additionally cover such other financial matters (including information as to periods ending not more than
five business days prior to the date of such letter) as the Holder may reasonably request. 
 If the Holder exercises its rights to have the
Warrant Shares registered, it is understood that the Holder shall furnish to the Company such information regarding the securities held by it and the intended method of disposition thereof as the Company shall reasonably request and as shall be
required in connection with the action to be taken by the Company. 
 4.4 All Registration Expenses incurred in connection with any
registration pursuant to this Warrant Certificate shall be borne by the Company. All Selling Expenses in connection with any registration pursuant to this Warrant Certificate shall be borne by the Holder. 

 For purposes of Section 4.4, all expenses incurred by the Company in complying with
Section 4.3, including, without limitation, all registration and filing fees, fees and expenses of complying with securities and blue sky laws, printing expenses. and fees and disbursements of counsel and of independent public accountants for
the Company (including the expense of any special audits in connection with any such registration), are herein called “Registration Expenses’, and all underwriting discounts and selling commissions applicable to the Warrant Shares covered
by any such registration and all fees and disbursements of counsel for the Holder are herein called ‘Selling Expenses”. 
 4.5 In
the event of any registration of any Warrant Shares under the Securities Act pursuant to this Warrant Certificate, the Company shall indemnify and hold harmless the Holder, each underwriter of such shares, if any, each broker, and any other person,
if any, who controls any of the foregoing persons within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which any of the foregoing persons may become subject under the Securities Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any registration statement under which
the Warrant Shares were registered under the Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereto, or any document incident to registration or qualification of any Warrant Shares
pursuant to paragraph 4.3(d) above, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading or, with respect to any
prospectus, necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or any violation by the Company of the Securities Act or state securities or blue sky laws applicable to the Company
and relating to action or inaction required of the Company in connection with such registration or registration or qualification under such state securities or blue sky laws; and shall reimburse the Holder and such underwriter, broker or other
person acting on behalf of the Holder and each such controlling person for any legal or any other expenses reasonably included by any of them in connection with investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in
reliance upon and in conformity with written information furnished to the Company by the Holder or such underwriter specifically for use in the preparation thereof The indemnity agreement set forth in this Section 4.5, insofar as it relates to
any such omission, alleged omission, untrue statement or alleged untrue statement made in a preliminary prospectus but eliminated or remedied in the final prospectus, shall not inure to the benefit of any of the beneficiaries named in this
Section 4.5 whose responsibility it was to send, furnish or give a copy of the final prospectus to a person asserting a claim for which indemnification is sought (the “Claimant”) unless a copy of the final prospectus was so sent,
furnished or given to the Claimant at or prior to the time such action is required by the Securities Act. 
 Before Warrant Shares held or
purchasable by the Holder shall be included in any registration pursuant to this Warrant Certificate, the Holder and any underwriter acting on its 

 
behalf shall have agreed to indemnify and hold harmless (in the same manner and to the same extent as set forth in the preceding paragraph) the Company, each
director of the Company, each officer of the Company who shall sign such registration statement and any person who controls the Company within the meaning of the Securities Act, with respect to any failure of the Holder or such underwriter to comply
with all laws, rules and regulations in connection with the offer and sale of Warrant Shares, or any statement or omission from such registration statement, any preliminary prospectus or final prospectus contained therein, or any amendment or
supplement thereto, if such statement or omission was made in reliance upon and in conformity with written information furnished to the Company by the Holder or such underwriter specifically for use in the preparation of such registration statement,
preliminary prospectus, final prospectus or amendment or supplement. 
 Promptly after receipt by an indemnified party of notice of the
commencement of any action involving a claim referred to in the preceding paragraphs of this Section 4.5, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party, give written notice to the
indemnifying party of the commencement of such action. In case any such action is brought against an indemnified party, the indemnifying party will be entitled to participate in and to assume the defense thereof, jointly with any other indemnifying
party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof 
 5. Reservation of Warrant Shares 
 The Company covenants that it will at all times reserve and keep
available out of its authorized Common Stock, solely for the purpose of issue upon exercise of the Warrants, such number of shares of Common Stock as shall then be issuable upon the exercise of all outstanding Warrants. The Company covenants that
all shares of Common Stock which shall be issuable upon exercise of the Warrants shall be duly and validly issued and fully paid and non-assessable and free from all taxes, liens and charges with respect to the issue thereof. 
 6. Loss or Mutilation 
 Upon receipt
by the Company of reasonable evidence of the ownership of and the loss, theft, destruction or mutilation of any Warrant Certificate and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company, or, in the case
of mutilation, upon surrender and cancellation of the mutilated Warrant Certificate, the Company shall execute and deliver in lieu thereof a new Warrant Certificate representing an equal number of Warrants. 
 7. Adjustment of Purchase Price and Number of Warrant Shares Deliverable 
 7.1 The Purchase Price and the number of shares of Common Stock purchasable pursuant to this Warrant shall be subject to adjustment from time to time as hereinafter set forth in this Article 7. Whenever reference is
made in this Article 7 to the issue or sale of shares of 

 
Common Stock, or simply shares, such term shall mean any stock of any class of the Company other than preferred stock with a fixed limit on dividends and a
fixed amount payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company. The shares issuable upon exercise of the Warrants shall however be shares of Common Stock of the Company, par value $0.01 per
share, as constituted at the date hereof, except as otherwise provided in Sections 7.3 and 7.4. 
 7.2 In case the Company shall at any time
change as a whole, by subdivision or combination in any manner or by the making of a stock dividend, the number of outstanding shares into a different number of shares, with or without par value, (i) the number of shares which immediately prior
to such change the holder of each Warrant shall have been entitled to purchase pursuant to this Warrant shall be increased or decreased in direct proportion to the increase or decrease, respectively, in the number of shares outstanding immediately
prior to such change, and (ii) the Purchase Price in effect immediately prior to such change shall be increased or decreased in inverse proportion to such increase or decrease in the number of such shares outstanding immediately prior to such
change. For the purpose of this Section 7.2, the number of shares outstanding at any given time shall not include shares in the treasury of the Company. 
 7.3 In case of any capital reorganization or any reclassification of the capital stock of the Company or in case of the consolidation or merger of the Company with another corporation, or in case of any sale, transfer
or other disposition to another corporation of all or substantially all the property, assets, business and good will of the Company, the holder of each Warrant shall thereafter be entitled to purchase (and it shall be a condition to the consummation
of any such reorganization, reclassification, consolidation, merger, sale, transfer or other disposition that appropriate provision shall be made so that such holder shall thereafter be entitled to purchase) the kind and amount of shares of stock
and other securities and property receivable in such transaction which a shareholder receives who holds the number of shares which the Warrant entitled the holder to purchase immediately prior to such capital reorganization, reclassification of
capital stock, consolidation, merger, sale, transfer or other disposition; and in any such case appropriate adjustments shall be made in the application of the provisions of this Article 7 with respect to rights and interests thereafter of the
holder of the Warrants to the end that the provisions of this Article 7 shall thereafter be applicable, as nearly as reasonably may be, in relation to any shares or other property thereafter purchasable upon die exercise of the Warrants. 

7.4 In the event the Company shall declare a dividend upon the Common Stock payable otherwise than out of earnings or earned surplus or otherwise than
in shares of Common Stock or in stock or obligations directly or indirectly convertible into or exchangeable for such shares, the holder of each Wan-ant shall, upon exercise of the Warrant, be entitled to purchase, in addition to the number of
shares deliverable upon such exercise, against payment of the Purchase Price therefore but without further consideration, the cash, stock or other securities or property which the holder of the Warrant would have received as dividends (otherwise
than out of such earnings or earned surplus and otherwise than in shares or in obligations convertible into or exchangeable for Common Stock) if continuously since the date hereof such holder ( i) had been the holder of record of the number of
shares deliverable upon such exercise and (ii) had retained all dividends in stock or other securities (other than shares or such convertible or exchangeable stock or obligations) paid or payable in respect of said number of shares or in
respect of any such stock or other securities so paid or payable as such dividends. 

 7.5 No certificate for fractional shares shall be issued upon the exercise of the Warrants, but in lieu
thereof the Company shall purchase any such fractional interest calculated to the nearest cent. 
 7.6 Whenever the Purchase Price is
adjusted as herein provided, the Company shall forthwith deliver to each Warrant holder a statement signed by the President of the Company and by its Treasurer or Secretary stating the adjusted Purchase Price and number of shares determined as
herein specified. Such statement shall show in detail the facts requiring such adjustment, including a statement of the consideration received by the Company for any additional stock issued. 
 7.7 In the event at any time: 
 (i) The
Company shall pay any dividend payable in stock upon its Common Stock or make any distribution (other than cash dividends) to the holders of its Common Stock; or 
 (ii) The Company shall offer for subscription pro rata to the holders of its Common Stock any additional shares of stock of any class or any other rights; or 
 ( iii) The Company shall effect any capital reorganization or any reclassification of or change in the outstanding capital stock of the Company (other
than a change in par value, or a change from par value to no par value, or a change from no par value to par value, or a change resulting solely from a subdivision or combination of outstanding shares), or any consolidation or merger, or any sale,
transfer or other disposition of all or substantially all its property, assets, business and goodwill as an entirety, or the liquidation, dissolution or winding up of the Company; or 
 (iv) The Company shall declare a dividend upon its Common Stock payable otherwise than out of earnings or earned surplus or otherwise than in Common Stock
or any stock or obligations directly or indirectly convertible into or exchangeable for Common Stock; 
 then, in any such case, the Company shall cause at
least thirty days’ prior notice to be mailed to the registered holder of each Warrant at the address of such holder shown on the books of the Company. Such notice shall also specify the date on which the books of the Company shall close, or a
record be taken, for such stock dividend, distribution or subscription rights, or the date on which such reclassification, reorganization, consolidation, merger, sale, transfer, disposition, liquidation, dissolution, winding up or dividend, as the
case may he, shall take place, and the date of participation therein by the holders of shares if any such date is to he fixed, and shall also set forth such facts with respect thereto as shall be reasonably necessary to indicate the effect of such
action on the rights of the holders of the Warrants. 

 8. Governing Law 
 8.1 This Warrant Certificate shall be governed by and construed in accordance with the laws of the State of Texas. 
 IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly executed by its
officers thereunto duly authorized and its corporate seal (if any) to be affixed thereon as of the 19th day of July, 2007. 
  

	
	NORTH AMERICAN ROYALTY CORP
	
	 /s/ James F. Smith

	James F. Smith,
	Vice President
	
	ATTEST
	
	 /s/ William J. Amdall

	William J. Amdall,
	Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]