Document:

Amendment to Employment Letter Agreement between BNY Mellon & Ronald P. O'Hanley

 Exhibit 10.163 
 

 
 Lisa B. Peters Senior Executive Vice President 
 December 12, 2008 
 Ronald P. O’Hanley 
 Aim No. 024-0153 
 Dear Ron: 
 Effective April 19, 2006 you and Mellon Financial Corporation entered into a Letter Agreement which set forth the understanding between you and Mellon with respect
to your compensation and benefits related to your employment. This Letter Agreement was amended on December 22, 2006 as a part of the Amendment to Agreements in contemplation of the merger of Mellon Financial Corporation and The Bank of New
York Company, Inc., and on October 24, 2008 as a part of The Bank of New York Mellon Corporation’s participation in the United States Department of Treasury’s TARP Capital Purchase Program. Upon further review of your Letter
Agreement, as amended, an additional amendment is necessary prior to year end to comply with Internal Revenue Code Section 409A (Section 409A). 
 By
way of background, Section 409A requires that all documentation of deferred compensation arrangements subject to Section 409A must reflect the applicable requirements of Section 409A by no later than December 31, 2008.
Accordingly, all such documentation must include the appropriate time and method for paying such deferred compensation. 
 Failure to comply with
Section 409A (including failure to properly document the arrangement by December 31, 2008) will subject the employee to a 20% additional tax penalty, as well as underpayment interest on, the deferred compensation amount. Additionally, such
deferred compensation amount will be included in the employee’s current taxable gross income even if it has not yet been received. 
 The following
language from your Letter Agreement which originally read as set forth in italics, shall be and hereby is deleted in its entirety and shall have no further force and effect: 
  

	 	•	 	 Involuntary Separation of Employment. In the event that your employment with Mellon involuntarily terminates due to either a Without Cause
Termination or a Constructive Discharge; and provided that you execute a separation agreement and general release of claims in a form acceptable to Mellon’s legal counsel, Mellon agrees to provide you with the following cash and non-cash
benefits. If Mellon determines that it is necessary or appropriate for any payments, including benefits which cannot be provided on a nontaxable basis, to be delayed in order to avoid additional tax, interest and/or penalties under Section 409A
of the Internal Revenue Code (“Code”), then the payments and benefits would not be made before the date which is the first day following the six (6) month anniversary of the date of the involuntary separation (or upon earlier
death); 

 The following new language shall be added in place of the deleted language. For sake of convenience, additions are shown in
bold type, but deletions are not shown: 
 Human Resources 
 One Mellon Center, 7th Floor, Pittsburgh, PA 15258 
 T 412 234 8254 lisa.peters&bnymellon.com 

 
 2
 
 Ronald P. O’Hanley 
 December 12, 2008 
  

	 	•	 	 Involuntary Separation of Employment. In the event that your employment with Mellon involuntarily terminates due to either a Without Cause Termination
or a Constructive Discharge; and provided that within a 60 day period beginning upon your involuntary termination you execute a separation agreement and general release of claims in a form acceptable to Mellon’s legal counsel
(“Separation Agreement”) and the revocation period set forth in the Separation Agreement has expired. Mellon agrees to provide you with the following cash and non-cash benefits. If Mellon determines that it is necessary or
appropriate for any payments, including benefits which cannot be provided on a nontaxable basis, to be delayed in order to avoid additional tax, interest and/or penalties under Section 409A of the Internal Revenue Code (“Code”), then
the payments and benefits would not be made before the date which is the first day following the six (6) month anniversary of the date of the involuntary separation (or upon earlier death); 

 In addition, the italicized sentences in the paragraph set forth below shall be deleted: 
  

	 	•	 	 Transition Pay. You will receive seventy-eight (78) weeks of separation pay in an amount equivalent to your base salary in effect, less all applicable
taxes and deductions (“Separation Pay Amount”). Such Separation Pay Amount shall be reduced by the full amount of the cash displacement pay benefits (before taxes and deductions) actually paid to you pursuant to the Mellon
Financial Corporation Displacement Program, Mellon Supplemental Unemployment Benefit Plan and/or Change in Control Agreement in effect and applicable to you and for which you are eligible. Such reduced amount shall be hereinafter referred to as the
Employee’s “Transition Pay”. The time between the date upon which you begin to receive Transition Pay and the date upon which your Transition Pay ceases will be the “Transition Period.” Subject to
Mellon’s determination of a Code Section 409A delay, the first twelve (12) periodic installments will be delayed until the first day following the six (6) month anniversary of your separation from service. After which, Transition
Pay will be paid in periodic installments (with the first payment after the Code Section 409A delay including the prior installment payments) on regularly scheduled pay dates until the final installment of transition;

 The following new language shall be added in place of the deleted language. For sake of convenience, additions are shown in bold type,
but deletions are not shown: 
  

	 	•	 	 Transition Pay. You will receive seventy-eight (78) weeks of separation pay in an amount equivalent to your base salary in effect, less all applicable
taxes and deductions (“Separation Pay Amount”). Such Separation Pay Amount shall be reduced by the full amount, including an aggregate of all payments for which you are eligible under the Change in Control Agreement, of the
cash displacement pay benefits (before taxes and deductions) actually paid to you pursuant to the Mellon Financial Corporation Displacement Program, Mellon Supplemental Unemployment Benefit Plan and/or Change in Control Agreement in effect and
applicable to you and for which you are eligible. Such reduced amount shall be hereinafter referred to as the Employee’s “Transition Pay” and paid in the same time and form as payments pursuant to the Displacement Program. The
time between the date upon which you begin to receive Transition Pay and the date upon which your Transition Pay ceases will be the “Transition Period.” Subject to Mellon’s determination of a Code Section 409A delay, the
first twelve (12) periodic installments will be delayed until the first day following the six (6) month anniversary of your separation from service. After which, Transition Pay will be paid in periodic installments (with the first payment
after the Code Section 

 
 3
 
 Ronald P. O’Hanley 
 December 12, 2008 
  

	 	 
409A delay including the prior installment payments) on regularly scheduled pay dates until the final installment of transition:

 Finally, the italicized sentence in paragraph 3 set forth below shall be deleted: 
  

	 	•	 	 Special Bonus Award. In addition, you will receive a special bonus award equal to one and one-half times the average of your prior two-year bonus annualized
awards, less applicable taxes and deductions. The special bonus award will be paid all in cash 30 days following the last Transition Pay installment payment date; and 

 The following new language shall be added in place of the deleted language: 
 The Special Bonus Award will be paid all in cash and on the next regularly scheduled pay date one year after the involuntary termination of your employment due to either a Without Cause Termination or a Constructive Discharge. 

 

			
	Yours sincerely,
	
	The Bank of New York Mellon Corporation
		
	By:	 	 

		 	Lisa B. Peters, Senior Executive Vice President

  

	
	Intending to be legally bound, I agree with and accept the forgoing terms on the date set forth below.
	
	 

	Ronald P. O’Hanley
	
	 12/15/2008

	Date:Amendment to Letter Agreement regarding Sec. 409A among BNY Mellon & Mr. Kelly

 Exhibit 10.164 
 

 
 Lisa B. Peters Senior Executive Vice President 
 December 15, 2008 
 Via Hand Delivery 
 Mr. Robert P. Kelly 
 Aim No. 102-1000 
 Dear Bob: 
 Effective February 13, 2006 you and Mellon Financial
Corporation entered into a Letter Agreement which set forth the understanding between you and Mellon with respect to your compensation and benefits related to your employment. This Letter Agreement was amended on December 22, 2006 as a part of
the Amendment to Agreements in contemplation of the merger of Mellon Financial Corporation and The Bank of New York Company, Inc., and on October 24, 2008 as a part of The Bank of New York Mellon Corporation’s participation in the United
States Department of Treasury’s TARP Capital Purchase Program. Upon further review of your Letter Agreement, as amended, an additional amendment is necessary prior to year end to comply with Internal Revenue Code Section 409A (Section
409A). 
 By way of background, Section 409A requires that all documentation of deferred compensation arrangements subject to Section 409A must
reflect the applicable requirements of Section 409A by no later than December 31, 2008. Accordingly, all such documentation must include the appropriate time and method for paying such deferred compensation. 
 Failure to comply with Section 409A (including failure to properly document the arrangement by December 31, 2008) will subject the employee to a 20% additional
tax penalty, as well as underpayment interest on, the deferred compensation amount. Additionally, such deferred compensation amount will be included in the employee’s current taxable gross income even if it has not yet been received.

 The following new language shall be added to the second paragraph of your Letter Agreement: 
 Base salary shall be payable on regularly scheduled payroll dates and in accordance with Mellon’s standard payroll practices, and any bonus will be payable in accordance with the terms, including time and form of
payment, and conditions of the underlying bonus program. 
 Additionally, the penultimate sentence of the fourth paragraph of your Letter Agreement, which
originally read as set forth in italics, shall be and hereby is deleted in its entirety and shall have no further force and effect: 
 Prior to payment of
any amounts described in this paragraph, you agree to execute a general release and waiver, substantially in the form attached as Exhibit B of all claims you may have against Mellon and its directors, officers and affiliates. 
 Human Resources 
 One Mellon Center, 7th Floor,
Pittsburgh, PA 15258 
 T 412 234 8254 lisa.peters@bnymellon.com 

 Via Hand Delivery 
 Mr. Robert P. Kelly 
 Aim No. 102-1000 
 The following new language shall be added in place of the deleted language. For sake of convenience, additions are shown in bold type, but deletions are not shown: 
 Payment of any amounts described in this paragraph are conditioned upon, within a 60 day period beginning upon your termination, your execution of a general release and waiver, substantially in the form
attached as Exhibit B of all claims you may have against Mellon and its directors, officers and affiliates, and the revocation period set forth in the release having expired. Payment of any amounts paid pursuant to the Change in Control Agreement
shall be payable in accordance with the terms, including the time and form of payment, and conditions of such Change in Control Agreement. Vesting and exercisability of any equity awards shall be governed by the terms and conditions of the
underlying plan and equity award agreement. Payment of any other amounts shall be payable in a lump sum within 60 days following your separation from service; provided, however, if you are Specified Employee under Section 409A of the Internal
Revenue Code of 1986, as amended, (the “Code”) upon your separation from service and Mellon determines that it is necessary or appropriate for any payments, including benefits listed on Exhibit A or otherwise which cannot be provided on a
nontaxable basis, to be delayed in order to avoid additional tax, interest and/or penalties under Code Section 409A, then the payments and benefits would not be made before the date which is the first day following the six (6) month
anniversary of the date of your separation from service. 
 Additionally, enumerated item 4 of Exhibit A to your Letter Agreement, titled
“Supplemental Retirement Benefit”, shall be amended as provided in attached. 
  

			
	Yours sincerely,
	
	The Bank of New York Mellon Corporation
		
	By:	 	 

	Name:	 	Lisa B. Peters
	Title:	 	Senior Executive Vice President
	
	Intending to be legally bound, I agree with and accept the forgoing terms on the date set forth below.
	
	 

	Robert P. Kelly
	
	 12/15/08

	Date:

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