Document:

RESTRICTED STOCK AWARDS

 EXHIBIT 10.34 
 RESTRICTED STOCK AWARDS 
 FOR NAMED EXECUTIVE OFFICERS 
  

					
	 	  	 AWARD DATE
	  	 SHARES AWARDED

	 Martin L. Vaughan, III
	  	2/12/07	  	10,000
			
	 Michael Dinkins
	  	2/12/07	  	3,500
			
	 F. Michael Crowley
	  	2/12/07	  	6,000
			
	 Timothy J. Korman
	  	2/12/07	  	4,500
			
	 Steven C. Deal
	  	2/12/07	  	4,000

 Employee 
 You have been
granted a Restricted Stock Award for [number of restricted shares granted] shares of Common Stock of the Company, subject to the terms and conditions (i) in the Company’s 2000 Stock Incentive Plan, as amended from time to time (the
“Plan”), and (ii) as set forth in Exhibit A, attached hereto and made a part hereof (together with this letter, the “Agreement”), as follows: 
  

							
	Date of Agreement/ Grant:	  	[grant date]	  		  	
	Restricted Shares Granted:	  	[number of restricted shares granted]	  		  	
	Expiration Date:	  	[to be determined]	  		  	
	Vesting Schedule:	  	As defined in Exhibit A	  		  	

 Please indicate your acceptance by executing two (2) original copies of this Agreement and returning one (1)
original copy by U.S. Mail to Cindy Freeze. 
  

	
	 Very truly yours,

	
	 Martin L. Vaughan, III

 By my signature below, I hereby acknowledge receipt of this Award on the date shown above, which has been
issued to me under the terms and conditions of the Plan. I further acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions of the Award and the Plan. 
  

											
	Signature:	 	  
	 		 	Date:	 	  
	 	
		 	            Optionee’s Name	 		 		 		 	

 Note: If there are any discrepancies in the name or address shown above, please make the appropriate corrections
on this form. 

 EXHIBIT A 
 TERMS AND CONDITIONS 
 RESTRICTED STOCK AGREEMENT 
 FOR EXECUTIVE GROUP 
 1. Time and
Operational Vesting of Restricted Stock. Except as provided in these Terms and Conditions, the Restricted Stock shall vest and become nonforfeitable in accordance with the Vesting Schedule for each full year, up to a total of five (5) full
years that the Employee continues to be employed by the Company after the date of this Agreement, with the first vesting date being for 25% of the grant two (2) years after the date of grant and an additional 25% each year thereafter, subject
to the additional qualifications, applied on each such vesting date, based on Company’s operations described below. The period from the date hereof until the shares of Restricted Stock would have become 100% vested if time were the only
criterion shall be referred to as the “Restricted Period.” 
 This award of Restricted Stock to employee is intended to encourage
Employee to cause the operating earnings of Company to grow by the Target each calendar year. At each of the vesting dates set forth in the Vesting Schedule, Restricted Stock will be eligible to vest only if the Employee continues to be fully
employed by the Company and the Company achieves the Minimum in the calendar year preceding such vesting date. 
 If such conditions are met,
then the eligible shares shall vest as follows: 
  

			
	PERFORMANCE	 	VESTING PERCENTAGE
	Target achieved in one or both preceding calendar years	 	100%
	Target not achieved in either of preceding calendar years	 	At discretion of Human Resources & Compensation Committee

 Minimum means for any calendar year of the Company such percentage of budgeted profit, as approved
by the Human Resources & Compensation Committee, being attained. 
 Target means for any calendar year the percentage operating
earnings growth approved by the Human Resources & Compensation Committee, with reference to the estimated prospects of the Company’s Industry Peers (as defined below) for that calendar year. 
 In all events the Human Resources & Compensation Committee reserves authority to increase or decrease any such vesting by 20% of the eligible
shares to vest on such date. Without limitation, one factor which may be considered in such exercise of discretion will be total shareholder return (“TSR”) versus the total shareholder returns of the peer group (“Peers”). The
Peers shall be comprised from two distinct groups, one from the Company’s competitors for SEC and Human Resources & Compensation Committee purposes (“Industry Peers”) and the other from the S & P 600, with Industry Peers
accounting for 2/3 of the weight and the S & P 600 accounting for 1/3 of the weight of the Peers measurements. 
 2. Issuance
of Certificates. The stock certificate(s) evidencing the Restricted Stock shall be issued and registered on the Company’s books and records in the name of the Employee as soon as practicable following the date of this
Agreement. The Company shall retain control of each award representing the Restricted Stock until such time as the Restricted Stock becomes vested in accordance with the terms herein. Company is granted a power of attorney, coupled with an interest,
to administer these shares in accordance with the terms of this award and the Plan. 
 Upon the written request of the Employee
following the vesting of any portion of the shares of Restricted Stock prior to any event of forfeiture hereunder, the Company will cause a stock certificate to be issued, without such restrictive legend, with respect to the vested portion of the
shares of the Restricted Stock registered on the Company’s books and records in the name of the Employee. Following the expiration of the Restricted Period, the Company will cause a stock certificate to be issued for any shares of Restricted
Stock that have vested prior to any event of forfeiture hereunder and have not been reissued without the restrictions described above. 
 3.
Transferability. During the Restricted Period, the Employee shall not sell, assign, transfer, pledge, exchange, hypothecate, or otherwise dispose of unvested Restricted Stock. Upon receipt by the Employee of stock certificate(s) representing
vested shares without a restrictive legend pursuant to the Agreement, the Employee may hold or dispose of the shares represented by such certificate(s), subject to compliance with (i) the terms and conditions of the Plan and this Agreement and
(ii) applicable securities laws of the United States of America and the Commonwealth of Virginia. 

 4. Shareholder Rights. Prior to any forfeiture of the shares of Restricted Stock and while the
shares are Restricted Stock, the Employee shall, subject to the terms of this Agreement and the restrictions of the Plan, have all rights of a shareholder with respect to the shares of Restricted Stock awarded hereunder, including the right to
receive dividends and other distributions as and when declared by the Board of Directors of the Company and the right to vote the shares of Restricted Stock. 
 5. Tax Withholding. The Company shall have the right to retain and withhold from any award of the Restricted Stock, the amount of taxes required by any government to be withheld or otherwise deducted and paid
with respect to such award. At its discretion, the Company may require the Employee receiving shares of Restricted Stock to pay or otherwise reimburse the Company in cash for any such taxes required to be withheld by the Company and withhold any
distribution in whole or in part until the Company is so paid or reimbursed. In lieu thereof, the Company shall have the unrestricted right to withhold, from any other cash amounts due (or to become due) from the Company to the Employee, an amount
equal to such taxes required to be withheld by the Company to reimburse the Company for any such taxes (or retain and withhold a number of shares of vested Restricted Stock, having a market value not less than the amount of such taxes, and cancel in
whole or in part any such shares so withheld, in order to reimburse the Company for any such taxes). 
 6. Death; Disability; Retirement;
Termination of Employment. The shares of Restricted Stock not yet vested shall become 100% vested and transferable in the event that the Employee dies or becomes Disabled while employed by the Company or an Affiliate during the Restricted
Period. Upon attaining age 62 with 10 consecutive years of service with the Company or an Affiliate, or in any other circumstance approved by the Committee in its sole discretion, the shares of Restricted Stock shall become 100% vested and
transferable. In all events other than those previously addressed in this paragraph, if the Employee ceases to be an employee of the Company or an Affiliate, the Employee shall be vested only as to that percentage of shares of Restricted Stock which
are vested at the time of the termination of his employment and the Employee shall forfeit the right to the shares of Restricted Stock which are not yet vested on the termination date. 
 7. No Right to Continued Employment. This Agreement does not confer upon the Employee any right with respect to continuance of employment by the
Company or an Affiliate, nor shall it interfere in any way with the right of the Company or an Affiliate to terminate his or her employment at any time. 
 8. Change of Control or Capital Structure. Subject to any required action by the shareholders of the Company, the number of shares of Restricted Stock covered by this award shall be proportionately adjusted and
the terms of the restrictions on such shares shall be adjusted as the Committee shall determine to be equitably required for any increase or decrease in the number of issued and outstanding shares of Common Stock of the Company resulting from any
stock dividend (but only on the Common Stock), stock split, subdivision, combination, reclassification, recapitalization or general issuance to the holders of Common Stock of rights to purchase Common Stock at substantially below its then fair
market value or any change in the number of shares of Common Stock outstanding effected without receipt of cash, property, labor or services by the Company or for any spin-off or other distribution of assets to shareholders. 
 In the event of a Change of Control, this award of Restricted Stock shall immediately vest pursuant to the provisions of Section XIII(3) of the Plan. In
the event of a change in the Common Stock of the Company as presently constituted, which is limited to a change of all or part of its authorized shares without par value into the same number of shares with a par value, or any subsequent change into
the same number of shares with a different par value, the shares resulting from any such change shall be deemed to be the Common Stock within the meaning of the Plan. 
 The award of Restricted Stock pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure
or to merge or to consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 
 9. Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the Commonwealth of Virginia, except to the extent that federal law shall be deemed to apply. 
 10. Conflicts. In the event of any conflict between the provisions of the Plan as in effect on the date hereof and the provisions of this
Agreement, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the date hereof. 
 11. Employee Bound by Plan. The Employee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. 
 12. Binding Effect. Subject to the limitations stated herein and in the Plan, this Agreement shall be binding upon and inure to the benefit of the legatees, distributees, and personal representatives of the
Employee and the successors of the Company. 

 13. Forfeiture of Certain Gains. 
 (a) Termination for Cause. If Employee’s employment is terminated for “Cause” within one year of any vesting of Restricted Stock
herein, the Employee shall pay to the Company an amount equal to the Fair Market Value of such Restricted Stock on the date of vesting without regard to any subsequent market price increase or decrease. For purposes of this paragraph,
“Cause” shall have the meaning ascribed to it in any employment agreement between the Employee and the Company that is in effect at the time of termination and, if no such agreement exists, it shall mean: 
 (i) the willful and continued failure of the Employee to perform substantially the Employee’s duties with the Company or one of its affiliates
(other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Employee by the Company which specifically identifies the manner in which the Company
believes that the Employee has not substantially performed the Employee’s duties, or 
 (ii) the willful engaging by the Employee in
illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company. 
 (b) Forfeiture if Employee Engages
in Certain Activities. If Employee engages in any activity in competition with any activity of the Company, or inimical, contrary or harmful to the interests of the Company, including but not limited to (i) accepting employment with or
serving as a consultant advisor or in any other capacity to an employer that is in competition with or acting against the interests of the Company, (ii) disclosing or misusing any confidential information or material concerning the Company or
(iii) participating in any hostile takeover attempt, then (1) any unvested Restricted Stock shall be forfeited and cancelled and (2) the Employee shall pay to the Company an amount equal to the Fair Market Value on the date of
vesting, without regard to any subsequent market price increase or decrease, of any Restricted Stock that vested within one year of the date such activity began. 
 (c) Right of Set-off. Employee hereby consents to a deduction from any amounts owed by the Company to Employee from time to time (including amounts owed as wages or other compensation, fringe benefits or
vacation pay, to the extent of any amounts Employee owes the Company under paragraph 13(a) and (b). Whether or not the Company elects to make any set-off in whole or in part, if Company does not recover by means of set-off the full amount owed by
Employee under paragraphs 13(a) and (b), Employee agrees to immediately pay the unpaid balance to the Company. 
 14. Notice and Consent
to Electronic Delivery. The Company expects to deliver notices and certain documents relating to its employee benefit plans by posting the information on the Company’s web site, intranet or electronic bulletin board or transmitting
the material to employees by e-mail. These documents include employee benefits plans and any amendments thereto, election forms, prospectuses, supplements to prospectuses, annual reports to shareholders, informational brochures and similar
information. The Company will provide you with e-mail notification of the posting of any of the foregoing documents. This method of notification and access to documents relating to employee benefit plans will be in lieu of paper delivery of the
same documents. To satisfy legal requirements, your signature is an affirmative election to accept electronic notification and delivery of these documents in lieu of paper delivery, as well as all other terms of the award. 
 15. Defined Terms. All terms used herein that are defined in the Plan shall have the meanings given to them in the Plan.Deferred Compensation Plan for Non-Employee Directors

 EXHIBIT 10.1 
 JPMORGAN CHASE & CO. 
 DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS

 (As amended and restated July 2001 and as of December 31, 2004) 
 The Deferred Compensation Plan for Non-Employee Directors (“Plan”) permitted annual deferrals by non-employee Directors of JPMorgan Chase of all or a portion of their annual
compensation which would be otherwise paid and earned in the calendar following receipt of a deferral election by the Administrator. Deferrals under this Plan ceased as of December 31, 2004. The deferred balances under this Plan have been
frozen (other than for investment experience thereon) and are separately accounted from any deferrals made on or after January 1, 2005. By way of clarification, this Plan is intended to be a grandfathered plan under the final Treasury
Regulations issued pursuant to Section 409A of the Code and is not intended to be subject to Section 409A of the Code. 
 All
amounts credited to the Accounts of Directors under this Plan represent fully vested amounts. Changes from time to time have been made to the hypothetical investment options offered under this Plan. 
 Deferrals of compensation by Directors with respect to services performed in calendar years commencing on or after January 1, 2005 are subject to
the JPMorgan Chase 2005 Deferred Compensation for Non-Employee Directors. The Program represents an unsecured, unfunded promise to make payments in the future. 
  

	1.	 Definitions - The following are defined terms wherever they appear in the Plan. 

  

	 	1.1	 “Administrator” shall mean the Secretary, or such other person or committee appointed by the Chief Executive Officer of the Corporation to be
responsible for those functions assigned to the Administrator under the Plan. 

  

	 	1.2	 “Bank” shall mean JPMorgan Chase Bank, N.A. and any successor. 

  

	 	1.3	 “Board of Directors” shall mean the Board of Directors of the Corporation or the Bank. 

  

	 	1.4	 “Corporation” shall mean JPMorgan Chase & Co. 

  

	 	1.5	 “Deferred Compensation Account” or “Account” shall mean the separate account established under the Plan for each Participant as described in
Section 3.1. 

  

	 	1.6	 “Director” shall mean a member of the Board of Directors who is not also an employee (or former employee) of the Corporation or the Bank.

  

	 	1.7	 “Participant” shall mean each Director who participates in the Plan in accordance with the terms and conditions of the Plan.

  

	 	1.8	 “Plan” shall mean this Deferred Compensation Plan for Non-Employee Directors of JPMorgan Chase & Co. and the Bank, as amended from time to
time. 

  

	 	1.9	 “Stock” shall mean the Common Stock of the Corporation, $1.00 par value per share. 

  

	 	1.10	 “Valuation Date” shall mean the close of business on the last business day of each calendar quarter. 

  

	 	1.11	 “Subsidiary” shall mean any corporation, which at the time qualifies as a subsidiary of the Corporation under the definition of “subsidiary
corporation” in Section 425(f) of the Internal Revenue Code, as amended from time to time. 

  

	2.	 Participation. 

  

	 	2.1	 Eligibility. Each Director is eligible to participate in the Plan. 

 Effective for annual stock retainers awarded on or after November 19, 2002, such retainers are automatically deferred into the Stock Account described in Section 3.1(a) and are subject
to the timing election described in Section 2.2(a)(4). Annual Stock Retainers are awarded in the form of restricted units and each unit is the equivalent of one share of Stock. Effective November 19, 2002, references herein to deferred
Stock will include restricted stock units. 
  

	 	2.2	 Participation in the Plan; Termination of Participation. 

  

	 	(a)	 An individual may elect to participate by delivering a properly executed election form to the Administrator. The election form shall specify: (1) the
amount, by percentage or by dollar amount, of cash compensation and/or the amount (but not less than all of Stock compensation to be deferred; (2) the allocation of deferred cash compensation among the forms of hypothetical investment of such
deferred compensation; (3) the manner in which deferred compensation is to be paid; (4) the date or dates for payment of deferred compensation; and (5) the manner of payment of deferred compensation to a Participant’s estate in
the event of death before complete distribution of deferred compensation. 

  

	 	(b)	 The effective date for participation in the Plan by an individual who is a Director shall be the first day of the calendar year next beginning after 

	 	 
the date that the Administrator receives the individual’s election to participate in the Plan. The effective date of participation in the Plan for an
individual who is not a Director shall be the date that he or she becomes a Director if the Administrator has received an election to participate in the Plan prior to that date. 

  

	 	(c)	 A Participant may elect to terminate participation in the Plan by delivering written notice to the Administrator. The effective date for termination shall be the
date specified by the Participant in the notice of termination (but not earlier than the date of such notice). 

  

	 	(d)	 The deferral of a Participant’s compensation shall begin or end, as appropriate, as of the effective date of the Participant’s election to participate
or of the Participant’s notice to terminate participation, as appropriate, described in paragraphs (b) and (c) above. 

  

	 	2.3	 Term of Election of Deferral; Modification or Termination of Election of Deferral. 

  

	 	(a)	 An election to defer compensation, or to modify a prior election to defer compensation, must be made by the Participant prior to the commencement of the period
during which the compensation is earned or to which the compensation relates and shall continue in effect until modified or terminated by the Participant or until the Participant ceases to be eligible to participate in the Plan. A Participant may at
any time modify or terminate an election to defer compensation, but in each case only once in any 12-month period. 

  

	 	(b)	 A termination of an election to defer compensation shall apply prospectively only and shall not affect previously deferred compensation. A Participant who
terminates an election to defer compensation is not eligible to participate in the Plan again until 12 months after the date that the Participant’s election to terminate becomes effective under Section 2.2. 

  

	3.	 Compensation Deferred. 

  

	 	3.1	 Deferred Compensation Account. 

  

	 	(a)	 A Deferred Compensation Account shall be established for each Participant. The Account shall consist of two parts: (1) cash compensation deferred by a
Participant under the Plan, along with hypothetical income (or losses) on this compensation (the “Cash Account”) and (2) compensation in the form of Stock plus Stock credited to Participant as a result of the hypothetical reinvestment of
hypothetical 

	 	 
dividends on such Stock compensation (the ``Stock Account”). The amount of cash deferred (plus income or less losses) shall be credited to the
Participant’s Cash Account. The number of shares of Stock deferred, plus Stock resulting from the hypothetical reinvestment of hypothetical dividends on deferred Stock compensation, shall be credited to the Participant’s Stock Account.

  

	 	(b)	 Deferred cash compensation shall be credited to the Participant’s Cash Account as of the last day of the month during which such cash compensation was
otherwise payable to the Participant. For purposes of hypothetical investment of cash compensation under Section 3.3, however, deferred cash compensation shall not be considered to be hypothetically invested until the first day of the calendar
quarter next following the date that such compensation is credited to the Participant’s Cash Account and shall not begin to earn income until the first day of such quarter. 

  

	 	(c)	 Deferred Stock compensation shall be credited annually to the Participant’s Stock Account as of December 1 or such other date as may be specified by
the Board of Directors for the payment of Stock compensation. 

  

	 	3.2	 Amount of Deferral. A Participant may elect to defer receipt of all or a specified portion, by percentage or by dollar amount, of compensation otherwise payable
in cash and/or all (but not a portion of) compensation payable in Stock to the Participant for services as a Director or as a member of a committee of the Board of Directors or as a member of any advisory board of the Corporation, the Bank or any
Subsidiary. For these purposes, compensation shall include, but shall not be limited to, Directors’ fees (whether in cash or Stock), retainers, meeting fees, fees for committees or other similar forms of remuneration, but shall not include
direct reimbursement of expense. 

  

	 	3.3	 Hypothetical Investment of Cash. Deferred cash compensation is assumed to be invested, without charge, in one or more of the investment equivalents made
available from time to time hereunder. Descriptions of investment equivalents available under the Plan shall be provided to each Participant on or prior to the Participant making an allocation or reallocation of investment equivalents into which any
deferred cash payments are to be allocated or reallocated. 

  

	 	3.4	 Time of Hypothetical Investment of Cash. The amount of cash in the Participant’s Cash Account on each Valuation Date which has not been

	 	

	 	 
previously invested shall be deemed invested in a hypothetical investment on that Valuation Date based on the value of the hypothetical investment on that
date. 

  

	 	3.5	 Allocation of Hypothetical Investments of Cash; Reallocation of Hypothetical Investments of Cash. 

  

	 	(a)	 A Participant may allocate the balance of the Participant’s Cash Account to one or more hypothetical investments. The allocation shall be selected by the
Participant. 

  

	 	(b)	 A Participant may at any time prospectively change the allocation of the hypothetical investment of future deferred cash compensation. The reallocation of such
future deferred compensation shall be effective as of the date the reallocation request is received in good order by the Administrator. 

  

	 	(c)	 A Participant may at any time also reallocate among the hypothetical investments any cash compensation previously deferred by the Participant and then credited
to the Participant’s Cash Account. This reallocation is in addition to the reallocation described in paragraph (b) above. The reallocation shall be effective as of the date the reallocation request is received in good order by the
Administrator. 

  

	 	3.6	 Hypothetical Dividends on Deferred Stock. Dividends shall be deemed to have been paid on Stock allocated to a Participant’s Stock Account as if such
allocated Stock were actual shares of Stock issued and outstanding on the record date for dividends on Stock. Such hypothetical dividends shall be converted into deferred shares of Stock and shall be credited to a Participant’s Stock Account
quarterly. Fractional shares shall be credited to a Participant’s Stock Account cumulatively, but the balance of shares of Stock in a Participant’s Stock Account shall be rounded to the next highest whole share in the event of any issuance
and distribution of Stock to such Participant pursuant to Section 4.1. The number of shares of Stock in a Participant’s Stock Account shall be adjusted to reflect stock dividends, splits, reclassifications, and similar transactions.

  

	 	3.7	 Balance of Deferred Compensation Account. The balance of each Participant’s Deferred Compensation Account shall include: (1) cash compensation deferred
by the Participant and income (or losses) from the hypothetical investment of this compensation credited to the Participant’s Cash Account and (2) Stock compensation deferred by the Participant and credited to the Participant’s Stock
Account and any additional Stock credited to the 

	 	 
Participant’s Stock Account from the investment of dividends deemed paid on such Stock compensation. 

  

	 	3.8	 Statement of Account. A statement shall be sent to each Participant as to the balance of the Participant’s Deferred Compensation Account at least once a
calendar year. 

  

	4.	 Payment of Deferred Compensation. 

  

	 	4.1	 Payment of Deferred Compensation. Upon termination of services as a Director, the balance of the Participant’s Deferred Compensation Account shall (subject
to Section 4.2) be paid to the Participant in the manner and at the time selected by the Participant prior to the date of such termination. For purposes of payment, the balance of the Participant’s Account shall be valued as of the
Valuation Date coincident with or immediately following the date that the balance, or the particular installment thereof, is to be paid, but the balance of the Participant’s Account shall include all compensation deferred by the Participant
since the last Valuation Date. 

  

	 	4.2	 Elections Pertaining to Payments. The Participant may elect the manner of payment of the balance of the Participant’s Deferred Compensation Account, whether
in the Cash or Stock Account, including the dates of periodic payments over a specified period of years or the date of a lump sum distribution, provided that: 

  

	 	(a)	 If the payment provides for installments, the payments shall be made at least annually and not more frequently than quarterly and shall be payable for a period
not to exceed 15 years; 

  

	 	(b)	 No payments may be made prior to the first day of the calendar year following the calendar year during which the Participant terminates services as a Director
unless the payment is made pursuant to Section 4.4 or Section 4.5; 

  

	 	(c)	 No payments from any Participant’s Stock Account shall be payable otherwise than in shares of Stock, unless the Administrator otherwise determines to the
contrary; and 

  

	 	(d)	 No payments from any Participant’s Cash Account shall be payable otherwise than in cash. 

  

	 	4.3	 Modifications of Elections Pertaining to Payments. A Participant may at any time prior to the year in which the Participant’s service as a Director is
terminated modify previous elections pertaining to: (1) the date or dates and 

	 	 
the manner in which the balance of the Participant’s Deferred Compensation Account is to be paid and (2) the manner of payment of the balance of
the Participant’s Deferred Compensation Account in the event of the Participant’s death. Notwithstanding the date specified in this Section 4.3, the Administrator may prescribe an earlier or later date by which the Participant may
modify or make elections under the Plan. 

  

	 	4.4	 Payments to a Deceased Participant’s Estate or Beneficiaries. 

  

	 	(a)	 A Participant may elect by notice to the Administrator that in the event of the Participant’s death, any balance in the Participant’s Deferred
Compensation Account shall be paid (i) to beneficiaries, named by the Participant, provided that if no such election is made, payment shall be to the Participant’s estate; and (ii) in the same manner as provided with respect to the
Participant, provided that if no such election is made the balance of the Participant’s Deferred Compensation Account shall be determined as of the Valuation Date coincident with or immediately following the Participant’s death and this
amount shall be paid in a single payment to the Participant’s estate as soon as reasonably practicable thereafter. 

  

	 	(b)	 In the event of a Participant’s election to have Deferred Compensation payments made in installments following the death of such Participant, the
Administrator may, upon consideration of the application of the duly appointed administrator or executor of the Participant’s estate, or such beneficiaries as have been named by the Participant, direct that the balance of the Participant’s
Deferred Compensation Account be paid in a single payment. The payment shall be made at the time specified by the Administrator. 

  

	 	4.5	 Unforeseeable Emergency. A Participant may request the Administrator to make payment in the care of an unforeseeable emergency. For purposes of this Plan, an
unforeseeable emergency is severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined by relevant provisions of law) of the Participant, loss of the
Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that will constitute an unforeseeable emergency will
depend upon the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the
Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship, or (iii) by cessation of deferrals under the Plan. Examples of what are not considered to be unforeseeable emergencies
include the need to send a Participant’s child to college or the desire to purchase a home. Withdrawals 

	 	 
of amounts because of an unforeseeable emergency are only permitted to the extent reasonably needed to satisfy the emergency need.

  

	 	4.6	 Deferred Estate Benefit Program. A Participant may from time to time transfer balances from the Participant’s Cash Account to the Deferred Estate Benefit
Program in accordance with such procedures as may be prescribed by the Administrator and the Director Human Resources. 

  

	5.	 General Provisions. 

  

	 	5.1	 Participant’s Rights Unsecured. The right of any Participant to receive future payments of cash or Stock under the provisions of the Plan shall be an
unsecured claim against the general assets of the Corporation or the Bank, as appropriate. 

  

	 	5.2	 Assignability. No right to receive payments or distributions under the Plan shall be transferable or assignable by a Participant, except by will, by the laws of
descent and distribution or by a court of competent jurisdiction. Any other attempted assignment or alienation of payments under the Plan shall be void and of no force or effect. 

  

	 	5.3	 Administration. Except as otherwise provided herein, the Plan shall be administered by the Administrator, who shall have the authority to adopt rules and
regulations for carrying out the Plan and who shall interpret, construe and implement the provisions of the Plan in the Administrator’s discretion. Notwithstanding any other provision of the Plan, the Administrator may conform, in whole or in
part, the administration of the Plan, including the timing of reinvestment of earnings and distributions, to the administration of the Deferred Compensation Program of JPMorgan Chase & Co. and Participating Companies, as such program may
from time to time be amended, and to the Corporation’s Policy on Personal Investment in JPMorgan Chase Securities. 

  

	 	5.4	 Amendment. The Plan may at any time or from time to time be amended, modified or terminated by the Corporation and/or the Bank, provided that no amendment,
modification or termination (a) shall, without the consent of the Participant, adversely affect the balance of a Participant’s Deferred Compensation Account at that time or (b) permit payment of the balance of a Participant’s
Deferred Compensation Account prior to the date of payment specified in Section 4.2 (except for payments provided in Section 4.4 or Section 4.5). 

  

	 	5.5	 Legal Opinions. The Administrator may consult with legal counsel, who may be counsel for the Corporation or other counsel, with respect to the
Administrator’s obligations or duties hereunder, or with respect to any action, proceeding or any question of law, and shall not be liable with respect to any 

	 	 
action taken or omitted to be taken, by the Administrator in good faith pursuant to the advice of such counsel. 

  

	 	5.6	 Liability. Any decision made or action taken by the Board of Directors, the Administrator, or any employee of the Corporation or any of its subsidiaries arising
out of or in connection with the construction, administration, interpretation or effect of the Plan shall be within their or its absolute discretion and shall be conclusive and binding on all parties. Neither the Administrator nor any member of the
Board of Directors, and no employee of the Corporation or of any of its subsidiaries, shall be liable for any act or action hereunder, whether of omission or commission, except in circumstances involving bad faith, or for any act of any other member
or employee or of any agent to whom duties in connection with the administration of the Plan have been delegated. 

  

	 	5.7	 Construction. The singular shall include the plural, where appropriate.

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