Document:

FleetBoston Amended and Restated 1992 Stock Option and Restricted Stock Plan

  
 Exhibit 10(s)

  
 FLEETBOSTON FINANCIAL 
 AMENDED AND RESTATED 1992 STOCK OPTION AND RESTRICTED STOCK 
 PLAN (as amended through October 16, 2001) 
  

	1.	Purpose 

  
 This Amended and Restated 1992 Stock Option and Restricted Stock Plan (the “Plan”) constitutes an amendment and restatement of the 1992 Stock
Option and Restricted Stock Plan which was adopted by the Board of Directors of Fleet Boston Corporation (the “Corporation”) on January 15, 1992, and approved by the stockholders of the Corporation on April 15, 1992, further amended on
February 16, 1994 and approved by the stockholders on April 20, 1994 (the “1994 Amendment”), further amended on February 21, 1996 and approved by the stockholders on April 17, 1996 (the “1996 Amendment”), further amended on
February 17, 1999 and approved by the stockholders on April 21, 1999 (the “April 1999 Amendment”), further amended on December 21, 1999 (the “December 1999 Amendment”) and further amended on October 16, 2001 (the “October
2001 Amendment”). The purpose of this Plan is to advance the interests of the Corporation by enhancing the ability of the Corporation and its subsidiaries to attract and retain officers, employees and non-employee directors to the Corporation,
to reward such individuals for their contributions and to encourage them to take into account the long-term interests of the Corporation through interests in the Corporation’s Common Stock, $.01 par value per share (the “Stock”). Any
officer, director or employee selected to receive an award under the Plan is referred to as a “participant”. 
  
 The Plan provides for the grant of options to acquire Stock (“Options”), which may be incentive options (“ISOs”) within the meaning of
the Internal Revenue Code of 1986, as amended (the “Code”), and awards of Stock subject to certain restrictions (“Restricted Stock”). Under the Plan, Restricted Stock consists exclusively of (i) Stock subject to performance-based
restrictions intended to comply with the provisions of Section 162(m) of the Code (“Performance-Based Restricted Stock”) and (ii) Stock awarded to non-employee directors in lieu of some or all of the cash compensation such directors would
otherwise receive for their service as directors (“Non-employee Director Restricted Stock”). Grants of Options and awards of Restricted Stock are referred to herein as “Awards”. The grant of an Option may also involve the grant
of stock appreciation rights as described in Section 6. 
  

	2.	Administration 

  
 The Plan shall be administered, construed and interpreted by the Board of Directors or by one or more committees appointed by the Board of Directors of
the Corporation (any such committee being referred to herein as the “Committee”). The Committee shall have the discretionary authority, not inconsistent with the express provisions of the Plan, (a) to make Awards to such participants as
the Committee may select; (b) to determine the time or times when Awards shall be granted and the number of shares of Stock subject to each Award; (c) to determine which Options are, and which Options are not, intended to be ISOs; (d) to determine
the terms and conditions of each Award; (e) to prescribe the form or forms of instruments evidencing Awards and any other instruments required under the Plan and to change such forms 

  

 
from time to time; (f) to adopt, amend, and rescind rules and regulations for the administration of the Plan; and (g) to interpret the Plan and to decide any
questions and settle all controversies and disputes that may arise in connection with the Plan. Such determinations of the Committee shall be conclusive and shall bind all parties. 
  
 No member of the Board of Directors or the Committee shall be liable for any action or determination made in good faith, and
the members shall be entitled to indemnification and reimbursement in the manner provided in the Corporation’s By-laws. 
  
 As used in the Plan, the “fair market value” of Stock as of any day shall be the volume weighted average price of the Stock for that day, as
reported by Bloomberg, Inc. as of 4:00 p.m. Eastern Time on that day (or at the close of trading on the New York Stock Exchange, if earlier) or, if Bloomberg, Inc. does not report a volume weighted average price of the Stock for that day, for the
last preceding day on which such the volume weighted average price of the Stock is so reported. If Bloomberg, Inc. or any successor of Bloomberg, Inc. ceases to report volume weighted average prices, the Committee shall adopt another appropriate
method of determining fair market value. 
  

	3.	Eligibility 

  
 Persons eligible to receive Awards under the Plan shall be those key employees and officers, who, in the opinion of the Committee, are in a position to
make a significant contribution to the success of the Corporation and its subsidiaries. No person who beneficially owns five percent or more of the outstanding Stock of the Corporation shall be eligible to participate in the Plan, to exercise an
Option previously granted to him or her or to take full possession of Restricted Stock previously issued to him or her. A “subsidiary” of the Corporation shall mean a corporation, whether domestic or foreign, in which the Corporation shall
own, directly or indirectly, a majority of the capital shares entitled to vote at the annual meeting thereof. Non-employee directors shall be eligible to receive Awards under the Plan in lieu of some or all of the cash compensation they would
otherwise receive for their services as directors, to the extent that their eligibility for such Awards would not disqualify them as disinterested persons for purposes of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). 
  

	4.	Stock Subject to Awards 

  
 The Stock subject to Awards under the Plan shall be either authorized but unissued shares or treasury shares. Subject to adjustment in accordance with the
provisions of Paragraph 5(g) and 7(e) hereof, the total number of shares (the “Eligible Shares”) of such Stock shall be 74,500,000 shares. Subject to like adjustment, the total amount of Stock as to which Options may be granted or Stock
Awards may be issued to any one person participating under the Plan shall not exceed the aggregate number of shares that equal ten percent of the total amount of shares outstanding Stock of the Corporation. Subject to like adjustment, the maximum
number of shares issuable upon the exercise of options that are ISOs shall be 30,000,000. 
  

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 In the event that any outstanding Option or Restricted Stock Award under the Plan for any reason expires,
is forfeited or is terminated prior to the end of the period during which Awards may be made under the Plan, the shares of Stock allocable to the unexercised portion of such Option or the portion of such Restricted Stock Award that has terminated or
been forfeited may again be subject to award under the Plan. Shares of Stock delivered to the Corporation to pay the exercise price of any Option or to satisfy the tax withholding consequences of an Option exercise or the grant or vesting of
Restricted Stock shall again be subject to award under the Plan. 
  

	5.	Terms and Conditions Applicable to all Options Granted Under the Plan 

  

Options granted pursuant to the Plan shall be evidenced by agreements in such form as the Committee shall, from time to time, approve, which agreements
shall in substance include and comply with and be subject to the following terms and conditions: 
  

	 	a.	Medium and Time of Payment 

  
 The exercise price of an Option shall be payable either (i) in United States dollars in cash or by check, bank draft or money order payable to the order
of the Corporation, (ii) through the delivery of shares of Stock owned by the optionee with a fair market value equal to the option price or (iii) by a combination of (i) and (ii). Fair market value of Stock so delivered shall be determined on the
date of exercise. 
  
 To the extent permitted by applicable law,
the Committee may permit payment of the Option exercise price through arrangements with a brokerage firm under which such firm, on behalf of the optionee, will pay the exercise price to the Corporation and the Corporation shall promptly deliver to
such firm the number of shares of Stock subject to the Option so that the firm may sell such shares, or a portion thereof, for the account of the optionee. In addition, the Committee may permit payment of the Option exercise price by delivery of an
unconditional and irrevocable undertaking by a broker to deliver promptly to the Corporation sufficient funds to pay the exercise price as soon as the shares subject to the Option, or a portion thereof, are sold on behalf of the optionee.

  

	 	b.	Numbers of shares 

  
 The Option shall state the total number of shares to which it pertains. No Option may be exercised in part for fewer than twenty shares. Subject to
adjustment as provided in Section 5(g), in any fiscal year of the Corporation, the aggregate number of shares of Stock of the Corporation as to which Options may be granted to any one participant shall not exceed 650,000. 
  

	 	c.	Option Price 

  
 The exercise price of an Option shall be not less than the fair market value of the shares of Stock covered by the Option on the date of grant except that
(i) in connection with an amendment of an Option which does not reduce the exercise price of the Option but which, in the 

  

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opinion of the Committee, is or may be treated for tax or other technical purposes (including, in particular, for purposes of Section 16 of the Exchange Act)
as a new grant of the Option, the exercise price of such amended Option may be less than the then fair market value of the shares of Stock subject to such Option so long as such exercise price is equal to or greater than the exercise price of the
original Option, and (ii) in connection with an acquisition, consolidation, merger or other extraordinary transaction, Options may be granted at less than the then fair market value in order to replace Options previously granted by one or more
parties to such transaction (or their affiliates) so long as the aggregate spread on such replacement Options for any recipient of such Options is equal to or less than the aggregate spread on the Options being replaced. 
  

	 	d.	Expiration of Options 

  
 Each Option granted under the Plan shall expire on a date determined by the Committee which date may not be more than ten years from the date the Option
is granted. 
  

	 	e.	Date of Exercise 

  
 The Committee may, in its discretion, provide that an Option may not be exercised in whole or in part for any period or periods of time specified by the
Committee. Except as may be so provided, any Option may be exercised in whole at any time, or in part from time to time, during its term. In the case of an Option not immediately exercisable in full, the Committee may at any time accelerate the time
at which all or any part of the Option may be exercised. 
  

	 	f.	Termination of Service 

  
 The Committee shall, subject to the provision of Section 5(d), determine for each Award of an Option the extent to which the participant (or his legal
representative) shall have the right to exercise the Option following termination of such participant’s service to the Corporation or any subsidiary. Such provisions may reflect distinctions based on the reasons for the termination of service
and any other relevant factors that the Committee may determine. 
  

	 	g.	Adjustments on Changes in Stock 

  
 The aggregate number of shares of Stock as to which Options may be granted under the Plan, the aggregate number of shares of Stock as to which Options may
be granted to any one such participant, the number of shares of Stock covered by each outstanding Option, and the exercise price per share of each outstanding Option, shall be proportionately adjusted by the Committee for any increase or decrease in
the number of issued shares of Stock resulting from subdivisions or consolidation of shares or other capital adjustments, the payment of a Stock dividend or any other increase or decrease in such shares effected without receipt of consideration by
the Corporation; provided, however, that no such adjustment shall be made unless and until the aggregate effect of all such increases and decreases accruing after the effective date of the 1996 Amendment shall have increased or decreased the
number of issued shares of Stock by five percent or more; and provided further, that any factional shares resulting 

  

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from any such adjustment shall be eliminated. Any such determination by the Committee shall be conclusive. 
  

	 	h.	Assignability 

  
 Except as permitted by the Committee, Options shall be nontransferable except by the laws of descent and distribution or pursuant to a qualified domestic
relations order. So long as nontransferability of an Option shall be required to exempt the grant of an Option from the provisions of Section 16(b) of the Exchange Act, no Option that the Committee intends to grant in a transaction exempted from
such Section may be assigned or transferred except by will or by the laws of descent and distribution. So long as nontransferability of ISOs is a requirement of the Code, unless the Committee specifies otherwise, no Option granted as an ISO may be
assigned or transferred except by will, by the laws of descent and distribution or pursuant to a qualified domestic relations order. 
  

	 	i.	Rights as a Stockholder 

  
 An optionee shall have no rights as a stockholder with respect to shares covered by an Option until the date the shares are issued and only after such
shares are fully paid. No adjustment will be made for dividends or other rights the record date for which is prior to the date of such issuance. 
  

	 	j.	Tax Withholding 

  
 The Committee shall have the right to require that the participant exercising the Option remit to the Corporation an amount sufficient to satisfy any
federal, state, or local withholding tax requirements (or make other arrangements satisfactory to the Committee with regard to such taxes) prior to the delivery of any Stock pursuant to the exercise of the Option. If permitted by the Committee,
either at the time of the grant of the Option or in connection with its exercise, the participant may elect, at such time and in such manner as the Committee may prescribe, to satisfy such withholding obligation by (i) delivering Stock having a fair
market value equal to such withholding obligations, or (ii) requesting that the Corporation withhold from the shares of Stock to be delivered upon the exercise a number of shares of Stock having a fair market value equal to such withholding
obligation. 
  
 In the case of an ISO, the Committee may require as a condition of
exercise that the participant exercising the Option agree to inform the Corporation promptly of any disposition (within the meaning of Section 424(c) of the Code and the regulations thereunder) of Stock received upon exercise. 
  

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	 	k.	Change in Control 

  
 Notwithstanding the provisions of any Option that provide for its exercise in installments, such Option shall become immediately exercisable in the event
of a change in control. For purposes of this paragraph 5(k), a “Change in Control” shall mean any of the following events: 
  
 (a) The acquisition, other than from the Corporation, by any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25% or more of the then outstanding shares of common stock
of the Corporation (the “Outstanding Corporation Common Stock”); provided, however, that any acquisition by the Corporation or its subsidiaries, or any employee benefit plan (or related trust) of the Corporation or its subsidiaries, of 25%
or more of the Outstanding Corporation Common Stock shall not constitute a Change of Control; and provided, further that any acquisition by a corporation with respect to which, following such acquisition, more than 50% of the then outstanding shares
of common stock of such corporation is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Corporation Common Stock immediately prior to such
acquisition in substantially the same proportion as their ownership immediately prior to such acquisition of the Outstanding Corporation Common Stock, shall not constitute a Change of Control; or 
  
 (b) Individuals who, as of October 1, 1999, constitute the
Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any individual becoming a director subsequent to October 1, 1999 whose election, or nomination for election by the
Corporation’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose,
any such individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the Directors of the Corporation (as such terms are used in Rule 14a-11 of Regulation 14A promulgated
under the Exchange Act); or 
  
 (c) Consummation
of a reorganization, merger, consolidation, sale or other disposition of all or substantially all of the assets of the Corporation (a “Business Combination”), in each case, with respect to which all or substantially all of the individuals
and entities who were the beneficial owners of the Outstanding Corporation Common Stock immediately prior to such Business Combination do not, following such Business Combination, beneficially own, directly or indirectly, more than 50% of the then
outstanding shares of common stock of the corporation resulting from such a Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Corporation or all or substantially all of the
Corporation’s assets either directly or through one or more subsidiaries). 
  
 (d) Approval by the stockholders of the Corporation of a complete liquidation or dissolution of the Corporation. 
  
 Anything in the Plan to the contrary notwithstanding, if an
event that would, but for this paragraph, constitute a Change of Control results from or arises out of a purchase or other acquisition of the Corporation, directly or indirectly, by a corporation or other entity in which the Executive has a greater
than ten percent (10%) direct or indirect equity interest, such event shall not constitute a Change in Control. 
  

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	 	l.	Additional Restrictions and Conditions 

  
 The Committee may impose such other restrictions and conditions (in addition to those required by the provisions of this Plan) on any Award of Options
hereunder and may waive any such additional restrictions and conditions, so long as (i) any such additional restrictions and conditions are consistent with the terms of this Plan and (ii) such waiver does not waive any restriction or condition
required by the provisions of this Plan. 
  

	 	m.	Repricing 

  
 The Committee shall not, without further approval of the stockholders of the Corporation, (i) authorize the amendment of any outstanding Option to reduce
the exercise price of such Option or (ii) grant a replacement Option upon the surrender and cancellation of a previously granted Option for the purpose of reducing the exercise price of such Option. Nothing contained in this section shall affect the
Committee’s right to make the adjustment permitted under Section 5(g). 
  

	6.	Stock Appreciation Rights 

  
 At the discretion of the Committee, a participant who has been granted an Option may also be granted the right to require the Corporation to purchase all
or a portion of such Option for cancellation (a “stock appreciation right”). To the extent that the participant exercises this right, the Corporation shall pay him in cash and/or Stock the excess of the fair market value of each share of
Stock covered by the Option (or a portion thereof purchased), determined on the date the election is made, over the exercise price of the Option. The election shall be made by delivering written notice thereof to the Committee. Shares subject to the
Option so purchased shall not again be available for purposes of the Plan. Subject to adjustment as provided in Section 5(g), in any fiscal year of the Corporation, the aggregate number of shares of Stock as to which stock appreciation rights may be
granted to any one person participating under the Plan shall not exceed 650,000. 
  

	7.	Terms and Conditions Applicable to Restricted Stock Awards 

  
 Awards of Restricted Stock may be Performance-Based Restricted Stock, as described in Section 7(i), or Non-employee Director Restricted Stock, as
described in Section 7 (j). The provisions of Sections 7(a) through 7(h) are applicable to all shares of Restricted Stock. 
  

	 	a.	Number of Shares 

  
 The total number of shares of Restricted Stock that may be awarded under the Plan on a cumulative basis shall not exceed one half of one percent of the
Stock of the Corporation outstanding at the date of any such Award. In any fiscal year of the Corporation, the aggregate number of shares of Stock as to which Restricted Stock Awards may be granted to any one person participating under the Plan
shall not exceed 200,000. 
  

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 Each Restricted Stock Award under the Plan shall be evidenced by a stock certificate of the Corporation,
registered in the name of the participant, accompanied by an agreement in such form as the Committee shall prescribe from time to time. The Restricted Stock Awards shall comply with the following terms and conditions and with such other terms and
conditions not inconsistent with the terms of this Plan as the Committee, in its discretion, shall establish. 
  

	 	b.	Stock Legends; Prohibition on Disposition 

  
 Certificates for shares of Restricted Stock shall bear an appropriate legend referring to the restrictions to which they are subject, and any attempt to
dispose of any such shares of Stock in contravention of such restrictions shall be null and void and without effect. The certificates representing shares of Restricted Stock shall be held by the Corporation until the restrictions are satisfied.

  

	 	c.	Termination of Service 

  
 The Committee shall determine the extent to which the restrictions on any Restricted Stock Award shall lapse upon the termination of the
participant’s service to the Corporation and its subsidiaries, due to death, disability, retirement or for any other reason. If the restrictions on all or any portion of a Restricted Stock Award shall not lapse, the participant, or in the event
of his death, his personal representative, shall forthwith deliver to the Secretary of the Corporation such instruments of transfer, if any, as may reasonably be required to transfer the shares back to the Corporation. 
  

	 	d.	Change in Control 

  
 Upon the occurrence of a change in of the Corporation, as determined in Paragraph 5(k) of this Plan, all restrictions then outstanding with respect to
shares of Restricted Stock shall automatically expire and be of no further force and effect and all certificates representing such shares of Stock shall be delivered to the participant. 
  

	 	e.	Adjustment for Changes in Stock 

  
 The Committee shall proportionately adjust the aggregate number of shares of Stock as to which Restricted Stock Awards may be granted to participants
under the Plan and the aggregate number of shares of Stock as to which Restricted Stock Awards may be granted to any one such person for any increase or decrease in the number of issued shares of Stock resulting from the subdivision or consolidation
of shares or other capital adjustments, the payment of a stock dividend, or any other increase or decrease in such shares without the payment of consideration; provided, however, that no such adjustment shall be made unless and until the
aggregate effect of all such increases and decreases accruing after the effective date of the 1996 Amendment shall have increased or decreased the number of issued shares of Stock of the Corporation by five percent or more; and provided, further,
that any fractional shares resulting from any such adjustment shall be eliminated. Any such determination by the Committee shall be conclusive. Shares of Stock issued with respect to any outstanding Awards as a result of any of the foregoing events
shall be subject to the same restrictions. 
  

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	 	f.	Effect of Attempted Transfer 

  
 No benefit payable or interest in any Restricted Stock Award shall be subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance or charge and any such attempted action shall be void and no such interest in any Restricted Stock Award shall be in any manner liable for or subject to debts, contracts, liabilities, engagements or torts of any participant or
his beneficiary. If any participant or beneficiary shall become bankrupt or shall attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge any benefit payable under or interest in any Restricted Stock Award, then the
Committee, in its discretion, may hold or apply such benefit or interest or any part thereof to or for the benefit of such participant or his beneficiary, his spouse, children, blood relatives or other dependents, or any of them, in any such manner
and such proportions as the Committee may consider proper. 
  

	 	g.	Payment of taxes 

  
 The Corporation shall have the right to deduct from any Restricted Stock Award or other payment hereunder any amount that federal, state, local or foreign
tax law requires to be withheld with respect to such Award or payment or to require that the participant, prior to or simultaneously with the Corporation incurring any obligation to withhold any such amount, pay such amount to the Corporation in
cash or, at the option of the Corporation, shares of Stock (which shall be valued at the fair market value on the date of payment). There is no obligation under the Plan that any participant be advised of the existence of the tax or the amount
required to be withheld. Without limiting the generality of the foregoing, in any case where it is determined that tax is required to be withheld in connection with the issuance, transfer or delivery of shares of Stock under this Plan, the
Corporation may, pursuant to such rules as the Committee may establish, reduce the number of shares so issued, transferred or delivered by such number of shares as the Corporation may deem appropriate in its sole discretion to comply with such
withholding. Notwithstanding any other provision of this Plan, the Committee may impose such conditions on the payment of any withholding obligations as may be required to satisfy applicable regulatory requirements, including without limitation,
those under the Exchange Act. 
  

	 	h.	Rights as a Stockholder 

  
 A participant shall have the right to receive dividends on shares of Stock subject to the Restricted Stock Award during the applicable Restricted Period,
to vote the Stock subject to the award and to enjoy all other stockholder rights, except that the employee shall not be entitled to delivery of the stock certificate until the applicable Restricted Period shall have lapsed (if at all). 

 

	 	i.	Performance-Based Restricted Stock 

  
 Awards of Performance-Based Restricted Stock are intended to qualify as performance-based for the purposes of Section 162(m) of the Code. The Committee
shall provide that shares of Stock issued to a participant in connection with an Award of Performance-Based Restricted Stock may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, 

  

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except by will or the laws of descent and distribution, for such period as the Committee shall determine, beginning on the date on which the Award is granted
(the “Restricted Period”) and that the Restricted Period applicable to such Restricted Stock shall lapse (if at all) only if certain preestablished objectives are attained. Performance goals may be based on any of the following criteria:
(i) earnings or earnings per share, (ii) return on equity, (iii) return on assets, (iv) revenues, (v) expenses, (vi) one or more operating ratios, (vii) stock price, (viii) stockholder return, (ix) market share, (x) charge-offs, (xi) credit quality,
(xii) reductions in non-performing assets, (xiii) customer satisfaction measures and (xiv) the accomplishment of mergers, acquisitions, dispositions or similar extraordinary business transactions. The Committee shall establish one or more objective
performance goals for each such Award of Restricted Stock on the date of grant. The performance goals selected in any case need not be applicable across the Corporation, but may be particular to an individual’s function or business unit. The
Committee shall determine whether such performance goals are attained and such determination shall be final and conclusive. In the event that the performance goals are not met, the Restricted Stock shall be forfeited and transferred to, and
reacquired by, the Corporation at no cost to the Corporation. 
  
 The Committee may impose such other restrictions and conditions (in addition to the performance-based restrictions described above) on any Award of shares of Performance-Based Restricted Stock as the Committee deems appropriate and may
waive any such additional restrictions and conditions, so long as such waiver does not waive any restriction described in the previous paragraph. Nothing herein shall limit the Committee’s ability to reduce the amount payable under an Award
upon the attainment of the performance goal(s), provided, however, that the Committee shall have no right under any circumstance to increase the amount payable under, or waive compliance with, any applicable performance goal(s). 
  

	 	j.	Non-employee Director Restricted Stock 

  
 Awards of Non-employee Director Restricted Stock shall be made exclusively to directors of the Corporation who are not employees of the Corporation or any
of its subsidiaries. The Committee shall provide that shares issued in connection with an Award of Non-employee Director Restricted Stock may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or the
laws of descent and distribution, until the earlier of (i) the director’s retirement as a director of the Corporation at or after the retirement age specified in the Corporation’s By-laws, (ii) the director’s death or total and
permanent disability or (iii) the director’s resignation from the Board of Directors of the Corporation with the consent of such Board. Shares of Non-employee Director Restricted Stock may be awarded only in lieu of cash compensation that would
otherwise have been payable to the director receiving such Award and such cash compensation shall be reduced by the fair market value of the shares of Stock so awarded on the date of such Award. 
  
 The Committee may impose such other restrictions and conditions (in addition
to the restrictions described above) on any Award of shares of Non-employee Director Restricted Stock as the Committee deems appropriate and may waive any such additional restrictions and conditions applicable to such shares as long as such waiver
does not waive any restriction described in the preceding paragraph. 
  

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	8.	Amendment; Applicability to Outstanding Options 

  
 The Committee may alter, amend or suspend the Plan at any time or alter and amend Awards granted hereunder; provided, however, that no such
amendment may, without the consent of any participant to whom an Option shall theretofore have been granted or to whom a Restricted Stock Award shall theretofore have been issued, adversely affect the right of such participation under such Award.
Unless the Committee otherwise determines, any amendment to the Plan effected by the 1996 Amendment shall not apply to any Option outstanding on the date of stockholder approval of the 1996 Amendment held by a participant subject to Section 16(a) of
the Exchange Act if the effect of such application would be to cause the Option to be deemed to have been regranted for purposes of Rule 16b-3 under the Exchange Act, and provided, further, that no material amendment of the Plan may, without
stockholder approval thereof, become effective if such approval is required for purposes of Rule 16b-3 under the Exchange Act. 
  

	9.	Termination 

  
 Options and Restricted Stock Awards may be granted pursuant to the Plan from time to time within a period of ten years from January 15, 1992. The Board of
Directors may terminate the Plan at any time, and no Options shall be granted nor Restricted Stock awarded thereafter. Such termination shall not affect the validity of any Award then outstanding. 
  

	10.	Legality of Grant 

  
 The granting of any Award under this Plan and the issuance or transfer of Options and shares of Stock pursuant hereto are subject to all applicable
federal and state laws, rules and regulations and to such approvals by any regulatory or government agency (including, without limitation, no-action positions of the Securities and Exchange Commission) which may, in the opinion of counsel for the
Corporation, be necessary or advisable in connection therewith. Without limiting the generality of the foregoing, no Awards may be granted under this Plan and no Options or shares shall be issued by the Corporation, nor cash payments made by the
Corporation pursuant to or in connection with any such Award unless and until in any such case all legal requirements applicable to the issuance or payment have, in the opinion of counsel for the Corporation, been complied with. In connection with
any Option or Stock issuance or transfer, the person acquiring the shares or the Option shall, if requested by the Corporation, give assurance satisfactory to counsel to the Corporation with respect to such matters as the Corporation may deem
desirable to assure compliance with all applicable legal requirements. 
  

	11.	Effective Date 

  
 The April 1999 Amendment became effective upon the adoption thereof by the affirmative vote of a majority of stockholders, present in person or
represented by proxy, and entitled to vote thereon at the 1999 Annual Meeting of Stockholders when a quorum was present. 
  

 - 11 -FleetBoston Executive Deferred Compensation Plan No.1

  
 Exhibit 10(t)

  
 FLEET FINANCIAL GROUP, INC. 
 EXECUTIVE DEFERRED COMPENSATION PLAN NO. 1 
  
 (1997 Restatement) 
  

  
 SECTION 1. PURPOSE OF THE PLAN; SELECTION
OF PARTICIPANTS; PLAN FROZEN 
  
 Fleet Financial Group, Inc.
(the “Employer”) established this Executive Deferred Compensation Plan No. 1 (the “Plan”), originally effective as of December 12, 1984, in order to assist it and its subsidiaries and affiliates in retaining executive level
employees by providing such employees with the opportunity to defer receipt of certain amounts of compensation; thereby giving them flexibility in their personal tax and financial planning. In addition, amounts of compensation deferred pursuant to
Section 2 of the Plan will provide additional death and retirement benefits for them. The Plan is intended to be “a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a
select group of management or highly compensated employees” within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and shall be administered in a
manner consistent with that intent. 
  
 The executives eligible to
participate in the Plan will be selected by the Human Resources and Planning Committee, or any successor committee, of the Board of Directors of the Employer (the “Committee”) from time to time. When an executive has been designated as
eligible for participation in the Plan, he or she will be promptly notified by the Committee and given the opportunity to make an election to defer compensation under Section 2 and/or Section 3 of the Plan. An executive who makes such an election is
hereinafter referred to as an “Employee.” 
  
 The
Employer hereby amends and restates the Plan effective as of December 17, 1997. Notwithstanding any provision contained herein to the contrary, effective as of April 1, 1989, the Plan was frozen and no subsequent elections to defer compensation can
be made. 
  

  
 SECTION 2. RETIREMENT AND DEATH BENEFITS

  
 (a) An Employee may elect to defer receipt of salary,
awards under the Employer’s Corporate Executive Incentive Plan and other compensation over a period not exceeding seven years (the “deferral period”) in such amount as shall be selected by him, but not less than a total of $20,000 or
more than a total of $50,000. The total amount to be deferred during the deferral period shall be specified by the Employee in his or her deferred compensation agreement. The commitment made in said agreement shall be irrevocable unless the
Committee, at the request of the Employee, waives the requirement to defer with respect to amounts which have not been deferred for the calendar year prior to the date the request is received by the Committee. The Employee shall have the right to
change the amount to be deferred for any future year, provided such change is made in writing and delivered to the Committee prior to January 1 of the year in which the amount of deferred compensation which is to be changed would be earned, and also
provided that no such change may be made if it would reduce the total amount to be deferred under the Employee’s deferred compensation agreement. Amounts deferred shall be deducted first from any incentive compensation award which the Employee
would otherwise receive in a year for which his or her deferral election is in effect, and any remaining amount to be deferred for such year shall be withheld from the Employee’s salary in approximately equal amounts beginning in the month
following the month in which incentive compensation awards are paid. 
  

 3 

 (b) Interest equivalents, for Employees who became participants in the Plan prior to December 1, 1986,
will be credited monthly to the amounts of deferred compensation in accordance with the following schedule: 
  

				
	 Period of Deferral

	  	 Interest Rate on Cumulative
 Deferred Amounts

	 
	 Year 1
	  	6	%
	 Year 2
	  	7-1/2	%
	 Year 3
	  	9	%
	 Year 4
	  	10-1/2	%
	 Year 5
	  	12	%
	 Year 6
	  	13-1/2	%
	 Year 7
	  	15	%

  
 Interest equivalents,
for Employees who became participants in the Plan on or after December 1, 1986 and prior to November 1, 1988, will be credited monthly to the amounts of deferred compensation in accordance with the following schedule: 
  

				
	 Period of Deferral

	  	 Interest Rate on Cumulative
 Deferred Amounts

	 
	 Year 1
	  	5	%
	 Year 2
	  	5-3/4	%
	 Year 3
	  	6-1/2	%
	 Year 4
	  	7-1/4	%
	 Year 5
	  	8	%
	 Year 6
	  	8-3/4	%
	 Year 7
	  	10	%

  
 Interest equivalents,
for Employees who become participants in the Plan on or after November 1, 1988, will be credited monthly to the amounts of deferred compensation in accordance with the following schedule: 
  

				
	 Period of Deferral

	  	 Interest Rate on Cumulative
 Deferred Amounts

	 
	 Year 1
	  	5	%
	 Year 2
	  	5-3/4	%
	 Year 3
	  	6-1/2	%
	 Year 4
	  	7-1/4	%
	 Year 5
	  	7-3/4	%
	 Year 6
	  	8-1/4	%
	 Year 7
	  	9	%

  

 4 

 (c) Compensation which is deferred under paragraph (a) shall be paid by the Employer to the Employee or
beneficiary as hereinafter provided: 
  
 (i) If
the Employee’s employment with the Employer is terminated before all amounts to be deferred under paragraph (a) have been deferred, the Employee shall receive a lump sum payment (less applicable withholding) equal to the total amount of
compensation deferred at the time of termination plus interest equivalents credited under paragraph ‘(b) hereof as of the first day of the third month following the date of the Employee’s termination of employment with the Employer.

  
 (ii) If the Employee’s employment with
the Employer is terminated after all amounts which are scheduled to be deferred under paragraph (a) hereof have been deferred but prior to the expiration of seven years after the initial amount is deferred, the Employee will receive a lump sum
payment (less applicable withholding) equal to the total amount of his or her deferred compensation plus interest equivalents as of the first day of the third month following the date of the Employee’s termination of employment with the
Employer. 
  
 (iii) If the Employee’s
employment with the Employer terminates after seven years following the date the initial amount is deferred for him or her hereunder but prior to attaining age 55 and completing five years of continuous service with the Employer (or its subsidiary
or affiliate) and prior to attaining age 65, the Employee will be entitled to receive a lump sum payment (less applicable withholding) equal to the total amount of compensation deferred plus interest equivalents at the rate of 15 percent (10 percent
for Employees who become participants in the Plan on or after December 1, 1986 and prior to November 1, 1988, and 9 percent for Employees who become participants in the Plan on or after November 1, 1988). The lump sum payment shall be made as soon
as practicable following termination of the employment; provided, however, that the Employee may, with the prior written approval of the 

  

 5 

 
Committee, irrevocably elect prior to his or her termination of employment to defer receipt of his or her lump sum payment to a specified date not later than
age 65. 
  
 (iv) Upon any of the following
events, the Employee will be entitled to receive retirement income (less applicable withholding) as set forth in his or her compensation deferral agreement in a lump sum payment as soon as practicable following termination of employment or may elect
to defer receipt to a specified date not later than age 65 and to receive such balance in a series of up to fifteen annual installments: (1) the termination of employment of an Employee with the Employer (or its subsidiary or affiliate) after
attaining age 65; (2) the termination of employment of an Employee (or its subsidiary or affiliate) after attaining age 55 and completing five years of continuous service with the Employer (or its subsidiary or affiliate); (3) the designation by the
Committee in its sole discretion that an Employee shall be entitled to receive his or her balance as described below (regardless of the Employee’s age and years of service); or (4) a “change of control” as defined in the trust
referred to under Section 7. An election under the Plan to defer receipt beyond termination of employment or to receive installment payments must be irrevocable, must be made prior to termination of employment, and (unless the election is made upon
a change of control) requires the prior written consent of the Committee. If retirement occurs before or after age 65, the amount of retirement income will be less or greater than the amount specified in the agreement but will be calculated as
though the amount deferred had been credited with interest at 15 percent (10 percent for Employees who become participants in the Plan on or after December 1, 1986 and prior to November 1, 1988 and 9 percent for Employees who become participants in
the Plan on or after November 1, 1988). 
  
 (v)
If the Employee’s employment with the Employer (or its subsidiary or affiliate) terminates prior to attaining age 55 and completing ten years of service with the 

  

 6 

 
employer (or its subsidiary or affiliate) due to “Fleet Focus” reductions, the Employee will be entitled to elect to receive his or her benefit
(less applicable withholding) in a lump sum payment as soon as practicable following termination or may elect to defer receipt to a specified date not later than age 65 and, if such specified date is age 55 or later, to receive such balance in a
series of up to fifteen annual installment payments. Such election must be irrevocable and must be made during the “30 day notice period” specified under the Fleet Focus program. The amount deferred under this subsection will be credited
with interest at the annual rate of 8 percent or, if less, the rate credited to Participants who are active Employees under the Plan. 
  
 (d) In the event of an Employee’s death prior to commencing distributions under this Section, his or her beneficiary shall receive in a lump sum
payment a death benefit in such amount as shall be set forth in the Employee’s compensation deferral agreement or, if greater, in the same amount as the Employee would have received under paragraph (c)(iv) of this Section if he or she had
retired on the day before he or she died, except as hereinafter provided. If death occurs within two years after the initial deferral of compensation under this Section as a result of suicide or a condition which was known but not disclosed at the
time of the initial deferral, the Employee’s beneficiary will not receive the death benefit specified in the compensation deferral agreement, but will only receive the amount of compensation deferred plus interest determined in accordance with
the schedule in paragraph (b) of this Section. If the Employee dies after commencing distributions under this Section, the balance of the installments or payments which would have been made to the Employee shall be paid to his or her beneficiary in
a lump sum payment or, if the Employee was eligible under this Section and so elected for his or her beneficiary, in a series of up to fifteen annual installment payments, commencing as soon as practicable following the Employee’s death.

  

 7 

 (e) If as the result of circumstances beyond the control of the Employee, the Employee has an
unanticipated emergency which would result in severe financial hardship, the Employee may request to withdraw all or a portion of his or her deferred compensation under this Section (less applicable withholding) to satisfy his or her financial
emergency. The Committee in its sole discretion will determine whether a severe financial hardship exists and what amount, if any, may be withdrawn. Subject to a withdrawal penalty as hereinafter specified, from time to time an Employee may elect to
withdraw in a lump sum payment all or a portion of his or her deferred compensation under this Section (less applicable withholding) in accordance with procedures established by the Committee. The amount of such withdrawal, however, will be reduced
by a percentage of the withdrawal amount, which shall be forfeited by the Employee. Such percentage will be equal to the interest equivalent in effect for such Employee at the time of such withdrawal election increased by three percentage points;
provided, however, that such percentage may never be less than 10 percent. No withdrawal penalty shall apply to a withdrawal due to severe financial hardship. 
  

SECTION 3. DEFERRAL OF MANAGEMENT INCENTIVE AWARDS 
  
 (a) An Employee may annually elect to defer receipt of awards under the Employer’s Corporate Executive Incentive Plan, to the extent such awards are
not deferred under Section 2 of this Plan, subject to the approval of the Committee. The amount of deferral and the period of deferral shall be set forth in a deferral election form. Amounts deferred under this Section may be deferred until age 65,
provided the Employee remains in the employ of the Employer until age 65 or retires from the employ of the Employer prior to age 65. 
  
 (b) Payment of deferred incentive awards may be made in a lump sum or in annual installments or deferred annual installments as requested by the Employee
and approved by the 

  

 8 

 
Committee. Once the Committee has approved a deferred form of payment, its decision and the Employee’s election is irrevocable except as permitted in
Section 2(e) above. 
  
 (c) Interest equivalents will be credited
on deferred incentive compensation awards on a monthly basis as if the awards had been invested in a money market account at Fleet National Bank on the date of the award. Payment of the deferred incentive awards shall include the interest
equivalents credited to the awards. 
  
 (d) In the event of the
Employee’s termination of employment with the Employer other than on account of death, disability or retirement, the entire amount of compensation deferred under this Section shall become due and payable in one lump sum together with interest
credited to the amount deferred as of the first day of the third month following the date of the Employee’s termination of employment with the Employer. 
  
 (e) In the event of the Employee’s death prior to commencing distributions under this Section, his or her beneficiary shall receive in a lump sum
payment the total amount of incentive compensation awards deferred under this Section with interest. In the event of an Employee’s death after commencing distributions under this Section, the remainder of the installments due to the Employee
shall be paid to his or her beneficiary in a lump sum payment or, if the Employee was eligible under this Section and so elected for his or her beneficiary, in annual installment payments, commencing as soon as practicable following the
Employee’s death. 
  
 (f) If as the result of circumstances
beyond the control of the Employee, the Employee has an unanticipated emergency which would result in severe financial hardship, the Employee may request to withdraw all or a portion of his or her deferred compensation under this Section (less
applicable withholding) to satisfy his or her financial emergency. The Committee in its sole discretion will determine whether a severe financial hardship exists and 

  

 9 

 
what amount, if any, may be withdrawn. Subject to a withdrawal penalty as hereinafter specified, from time to time an Employee may elect to withdraw in a
lump sum payment all or a portion of his or her deferred compensation under this Section (less applicable withholding) in accordance with procedures established by the Committee. The amount of such withdrawal, however, will be reduced by a
percentage of the withdrawal amount, which shall be forfeited by the Employee. Such percentage will be equal to the interest equivalent in effect for such Employee at the time of such withdrawal election increased by three percentage points;
provided, however, that such percentage may never be less than 10 percent. No withdrawal penalty shall apply to a withdrawal due to severe financial hardship. 
  

SECTION 4. AGREEMENTS AND ELECTIONS TO DEFER COMPENSATION 
  
 Each agreement or election to defer compensation under this Plan shall be made by December 31 of the calendar year prior to the calendar year in which the
compensation to be deferred is earned, except as hereinafter provided. Notwithstanding the foregoing, within thirty days after the initial adoption of this Plan, or if later, within thirty days after an Employee is notified by the Employer of his or
her eligibility to participate in the Plan, an Employee may elect to defer all or any portion of an incentive compensation award to which he or she might become entitled for the calendar year in which the election is made. 
  
 SECTION 5. ASSIGNMENT OR ALIENATION 
  
 Compensation which is deferred under Section 2 or Section 3 of the Plan and
payments which are due under either Section may not be assigned, alienated, pledged, sold, transferred or encumbered and shall not be subject to attachment, garnishment or legal process, except as may otherwise be required by law. 
  

 10 

  
 SECTION 6. DESIGNATION OF BENEFICIARY

  
 An Employee may designate a beneficiary or beneficiaries,
or change any prior designation, to receive his or her benefits under this Plan (less applicable withholding) upon his or her death on a form approved by the Committee. If the beneficiary has commenced distributions, but dies before all payments
have been made, the remaining balance of the installments or payments will be distributed in a lump sum payment to the beneficiary’s estate as soon as practicable following receipt of notice of the beneficiary’s death. If no beneficiary is
designated (or if a designated beneficiary does not survive the Employee), the remaining balance of the installments or payments will be paid to the Employee’s estate in a lump sum payment. 
  
 SECTION 7. NATURE OF CLAIM FOR PAYMENTS 
  
 Except as herein provided, the Employer shall not be required to set aside
or segregate any assets of any kind to meet its obligations hereunder. An Employee shall have no right on account of the Plan in or to any specific assets of the Employer or to any assets of the trust described in the next paragraph. Any right to
any payment the Employee may have on account of the Plan shall be solely that of a general, unsecured creditor of the Employer. 
  
 To assist in meeting its obligations under the Plan, the Employer has established a trust pursuant to the Trust Agreement for Executive Deferred
Compensation Plans No. 1 and 2, dated as of June 19, 1996, as subsequently amended, of which the Employer is treated as the owner under Subpart E of Subchapter J, Chapter I of the Internal Revenue Code of 1986, as amended (a “grantor
trust”), and may deposit funds or property (including insurance contracts) with the trustee of the grantor trust (the “Trustee”). Upon a “change of control,” as defined in Schedule A of the grantor trust, the Employer shall
promptly appoint an independent trustee (which may not be the Employer or any subsidiary or affiliate) for the grantor trust, and, if at the time of a 

  

 11 

 
“change of control” as defined in the trust, the trust has not been fully funded, the Employer shall, within the time and manner specified under
such trust, deposit in such trust amounts sufficient to satisfy all obligations under the Plan as of the date of deposit. 
  
 In all events, the Employer shall remain ultimately liable for the benefits payable under this Plan, and to the extent the assets at the disposal of the
Trustee are insufficient to enable the Trustee to satisfy all benefits, the Employer shall pay all such benefits necessary to meet its obligations under this Plan. 
  
 The obligations of the Employer hereunder shall be binding upon its successors and assigns, whether by merger, consolidation
or acquisition of all or substantially all of its business or assets. 
  
 SECTION 8. ADMINISTRATION 
  
 The Plan will be
administered by the Committee. The Committee will have full discretionary authority to interpret the provisions of the Plan and decide all questions and settle all disputes which may arise in connection with the Plan, and may establish its own
operative and administrative rules and procedures in connection therewith, provided such procedures are consistent with the requirements of section 503 of ERISA and the regulations thereunder. All interpretations, decisions and determinations made
by the Committee will be binding on all persons concerned. No member of the Committee who is a participant in the Plan may vote or otherwise participate in any decision or act with respect to a matter relating solely to himself or herself (or to his
or her beneficiaries). 
  
 Except as the Committee may otherwise
provide by written resolution, the Committee delegates its duties and responsibilities under Section 3 with respect to non-executive officers (except for the duty to establish eligibility criteria under Article 4) to the Director of Corporate

  

 12 

 
Human Resources, who may further delegate certain of such duties and responsibilities to other officers of the Company. For purposes of the Plan, any action
taken by any such delegate pursuant to such delegation shall be considered to have been taken by the Committee. The Employer agrees to indemnify and to defend to the fullest possible extent permitted by law any member of the Committee and any
delegatee (including any person who formerly served as a member of the Committee or as a delegatee) against all liabilities, damages, costs and expenses (including attorneys’ fees and amounts paid in settlement of any claims approved by the
Employer) occasioned by any act or omission to act in connection with the Plan, if such act or omission is in good faith. 
  
 SECTION 9. AMENDMENT OR TERMINATION OF PLAN 
  
 The Plan may be altered, amended, revoked or terminated in writing by the Committee or the Employer, in any manner and at any time; provided, however,
that following a “change of control” as defined in the trust referred to under Section 7, no such alteration, amendment, revocation or termination shall reduce the amount of an Employee’s benefit or his or her rights to such benefit
as determined under the provisions of the Plan in effect, immediately prior to such change of control, or otherwise adversely affect the Employee’s benefits under the Plan, without the written consent of the Employee; and further provided,
however, that following a “change of control” as defined in the trust referred to under Section 7, the provisions of this Section 9 may not be amended. 
  

 13 

 IN WITNESS WHEREOF, this amended and restated Plan has been adopted by the Committee on December 17,
1997, and is executed by a duly authorized officers of Fleet Financial Group, Inc. 
  

			
	FLEET FINANCIAL GROUP, INC.
		
	By:	 	 /s/ William C. Mutterperl

  

 14 

  
 AMENDMENT ONE

 TO THE 
 FLEET
FINANCIAL GROUP, INC.  
 EXECUTIVE DEFERRED COMPENSATION PLAN NO. 1 
  
 The following amendments are effective as of January 1, 2000. 
  

	 	1.	Upon the effective date of the final legal approval of the change in the name of the Employer to FleetBoston Financial Corporation, the name “Fleet Financial Group, Inc.”
will be replaced by the name “FleetBoston Financial Corporation” wherever it appears in the Plan. 

  

	 	2.	Section 2(c) is amended by adding paragraph (vi) to the end thereof to read as follows: 

  
 (vi) Notwithstanding the foregoing, any election to defer receipt of benefits under Section 2(c) is not valid or effective
unless filed with the Committee either by December 31, 1999 or at least one year prior to the Employee’s last day of active employment. An Employee whose distribution of benefits is not governed by a deferred compensation agreement under
Section 2(a) and who does not have a valid, timely election in effect on the last day of active employment shall have his or her benefit promptly paid out in a lump sum following termination of employment (i.e., after the end of salary
continuation payments, if applicable). 
  

	 	3.	Section 2(f) is added to read as follows: 

  
 (f) Notwithstanding anything in the Plan to the contrary regarding the form of benefits an Employee may elect, an Employee who is eligible
for benefits under this Section 2 may elect to receive his or her benefit in the form of an age 65 single life annuity with an actuarial value (using the Fleet Financial Group, Inc. Pension Plan’s actuarial assumptions) equal to 50% of the
Employee’s account balance. 
  

	 	4.	Section 3(b) is amended to read as follows: 

  
 Payments of deferred incentive awards may be made in a lump sum, as an age 65 single life annuity (as described in Section 3(g)), or in annual
installments or deferred annual installments, subject to the requirements of Section 2(c)(vi). 
  

	 	5.	Section 3(g) is added to read as follows: 

  
 (g) Notwithstanding anything in the Plan to the contrary regarding the form of benefits an Employee may elect, an Employee who is eligible
for benefits under this Section 3 may elect to receive his or her benefit in the form of an age 65 single life annuity with an actuarial value (using the Fleet Financial Group, Inc. Pension Plan’s actuarial assumptions) equal to 50% of the
Employee’s account balance. 
  

	 	6.	Section 9 is amended to read as follows: 

  
 SECTION 9. AMENDMENT OR TERMINATION OF THE PLAN 
  
 The Plan may be amended or terminated in writing by the Committee or the Company in any manner at any time.
Notwithstanding the previous sentence, no such amendment or termination shall reduce the amount of an Employee’s benefit or his or her distribution rights related thereto as determined under the provisions of the Plan in effect immediately
prior to such amendment or termination, and this second sentence of Section 9 is irrevocable and may not be amended. 
  

	 	7.	Section 10 is added to read as follows: 

  
 SECTION 10. SOCIAL SECURITY TAX 
  
 Subject to the requirements of Code section 3121(v)(2) and the regulations thereunder, the Committee has the full discretion and authority
to determine when Federal Insurance Contribution Act (“FICA”) taxes on a Employee’s Plan benefit or account are paid and whether any portion of such FICA taxes shall be withheld from the Employee’s wages or deducted from the
Employee’s benefit or account. 
  
 IN WITNESS WHEREOF, the
provisions of this Amendment One were adopted by the Human Resources and Board Governance Committee on the 21st day
of December, 1999, or are hereby adopted, and this Amendment One is executed by a duly authorized officer of Fleet Boston Corporation. 
  

			
	FLEET BOSTON CORPORATION
		
	By:	 	 /s/ William C. Mutterperl

	 	 	 William C. Mutterperl

	 	 	 Executive Vice President,

	 	 	 Secretary and General Counsel

  

 2 

  
 AMENDMENT TWO

 TO 
 THE
FLEETBOSTON FINANCIAL CORPORATION 
 EXECUTIVE DEFERRED COMPENSATION PLAN NO. 1 
 (1997 Restatement) 
  
 Section 5 of the Plan is amended effective January 1, 2003, to read as follows: 
  
 SECTION 5. ASSIGNMENT OR ALIENATION 
  
 (a) Except as provided in Section 5(b) or as otherwise required by law, the interest hereunder of any
Employee or beneficiary shall not be alienable by the Employee or beneficiary by assignment or any other method and will not be subject to be taken by his creditors by any process whatsoever, and any attempt to cause such interest to be so subjected
shall not be recognized. 
  
 (b) All or a portion
of an Employee’s benefit under the Plan maybe paid to another person as specified in a “Qualified Domestic Relations Order.” For this purpose, a Qualified Domestic Relations Order” means a judgment, decree, or order (including
the approval of a settlement agreement) which is: 
  
 (i) issued pursuant to a State’s domestic relations law; 
  
 (ii) relates to the provision of child support, alimony payments or marital property rights to a spouse, former spouse, child or other dependent of the Employee; 
  
 (iii) creates or recognizes the right of a spouse, former
spouse, child or other dependent of the Employee to receive all or a portion of the Employee’s benefits under the Plan; 
  
 (iv) provides for payment in an immediate lump sum as soon as practicable after the Committee determines that a Qualified Domestic
Relations Order exists; and 
  
 (v) meets such
other requirements established by the Committee. 
  
 (c) The Committee shall determine whether any document received by it is a Qualified Domestic Relations Order. In making this determination, the Committee may consider: 
  
 (i) the rules applicable to “domestic relations orders” under section 414(p) of the Internal
Revenue Code of 1986 and section 206(d) of ERISA; 
  
 (ii) the procedures used under the FleetBoston Financial Savings Plan to determine the qualified status of domestic relations orders; and 
  
 (iii) such other rules and procedures as it deems relevant. 
  

 IN WITNESS WHEREOF, this Amendment Two was adopted by the Human Resources Committee at its June 17, 2003
meeting and is executed by a duly authorized officer FleetBoston Financial Corporation. 
  

			
	FLEET BOSTON FINANCIAL CORPORATION
		
	By:	 	 /s/ M. Anne Szostak

	 	 	 M. Anne Szostak

	 	 	 Executive Vice President and
 Director of Human Resources

  

 2 

  
 AMENDMENT THREE

 TO 
 THE
FLEETBOSTON FINANCIAL CORPORATION 
 EXECUTIVE DEFERRED COMPENSATION PLAN NO. 1 
 (1997 Restatement) 
  
 Section 2(c)(iv) of the Plan is amended effective December 16, 2003, to read as follows: 
  
 (iv) Upon a termination of employment following any of the events described in clauses (1) through (4) below, the Employee
will receive retirement income (less applicable withholding) in fifteen annual installments commencing at age 65 (or, if later, commencing at retirement); provided, however, that if the Employee has previously made (or, subject to the requirements
of the Plan relating to the timing of distribution elections, makes) a valid election either to receive retirement income (less applicable withholding) as set forth in his or her compensation deferral agreement in a lump sum payment as soon as
practicable following termination of employment or to defer receipt to a specified date not later than age 65 (or, if later, commencing at retirement) and to receive such balance in a series of up to fifteen annual installments, then the terms of
such election shall control: (1) the termination of employment of an Employee with the Employer (or its subsidiary or affiliate) after attaining age 65; (2) the termination of employment of an Employee (or its subsidiary or affiliate) after
attaining age 55 and completing five years of continuous service with the Employer (or its subsidiary or affiliate); or (3) the designation by the Committee in its sole discretion that an Employee shall be entitled to receive his or her balance as
described above (regardless of the Employee’s age and years of service); or (4) a “change of control” as defined in the trust referred to in Section 7. If retirement occurs before or after age 65, the amount of retirement income will
be less or greater than the amount specified in the agreement but will be calculated as though the amount deferred had been credited with interest at 15 percent (10 percent for Employees who become participants in the Plan on or after December 1,
1986 and prior to November 1, 1988 and 9 percent for Employees who become participants in the Plan on or after November 1, 1988). 
  
 IN WITNESS WHEREOF, this Amendment Three was adopted by the Human Resources Committee at its December 16, 2003 meeting and is executed by a duly
authorized officer of the Company on this 19th day of December, 2003. 
  

			
	FLEETBOSTON FINANCIAL CORPORATION
		
	By:	 	 /s/ M. Anne Szostak

	 	 	 M. Anne Szostak

	 	 	 Executive Vice President and
 Director of Human Resources

  

 3

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