Document:

EX-10.1

SunTrust Banks, Inc.

2009 Stock Plan

Non-Employee Director

Restricted Stock Agreement

SunTrust Banks, Inc. (“SunTrust”), a Georgia corporation, upon the recommendation of the
Governance and Nominating Committee of its Board of Directors and pursuant to action of the
Compensation Committee (“Committee”) in accordance with the SunTrust Banks, Inc. 2009 Stock Plan
(“Plan”), has granted restricted shares of SunTrust Common Stock, $1.00 par value (“Restricted
Stock”), upon the following terms as an incentive for Grantee to promote the interests of SunTrust
and its Subsidiaries.

 

	 	 	 	 	 
	Name of Grantee

	 	 
	 	[Name]
	 	 	 
	Shares of Restricted Stock

	 	 
	 	[# of Shares]
	 	 	 
	Grant Date

	 	 
	 	[Grant Date]

This Non-Employee Director Restricted Stock Agreement (the “Stock Agreement”) evidences this Grant,
which has been made subject to all the terms and conditions set forth on the attached Terms and
Conditions and in the Plan.

 

	 
	SUNTRUST BANKS, INC.

	Authorized Officer

§ 1. EFFECTIVE DATE. This Grant of Restricted Stock to the Grantee is effective as of [Grant
Date] (“Grant Date”).

§ 2. VESTING. All shares of Restricted Stock subject to this Grant shall vest upon the earlier of
(a) the first (1st) anniversary of the Grant Date, and (b) the next annual meeting of
shareholders of the Company (“Vesting Date”), provided that Grantee remains an active member of
SunTrust’s Board of Directors (“Board”) through that date and such shares have not previously
vested or been forfeited pursuant to § 3.

§ 3. ACCELERATED VESTING.

(a) If the Grantee’s membership on the Board terminates prior to the Vesting Date as a result of
the Grantee’s (i) death; (ii) disability within the meaning of Section 22(e)(3) of the Internal
Revenue Code of 1986, as amended; or (iii) attainment of mandatory retirement age for Board
members, then a pro rata number of shares of Restricted Stock shall be vested on the date of the
Grantee’s departure from the Board, equal to the product of: (A) the number of shares of
Restricted Stock that are not then vested; multiplied by (B) a fraction, the numerator of which is
equal to the number of days since the Grant Date through the date of such termination of membership
on the Board, and the denominator of which is equal to the number of days from the Grant Date
through the Vesting Date.

(b) If there is a Change in Control of SunTrust followed by the involuntary termination of the
Grantee’s membership on the Board prior to the Vesting Date and if such termination is not a
Termination for Cause, then any shares of Restricted Stock not previously vested or forfeited shall
become vested on the date of such termination. For purposes of this § 3(b), “Termination for Cause”
means termination of membership on the Board which is made primarily because of (i) Grantee’s
commission of a felony, or Grantee’s perpetration of a dishonest act, misappropriation of funds,
embezzlement, criminal conduct or common law fraud against SunTrust or any Subsidiary, or (ii) any
other willful act or omission of the Grantee which is materially injurious to the financial
condition or business reputation of SunTrust or any Subsidiary.

(c) If the Grantee’s membership on the Board terminates prior to the Vesting Date for any reason
other than those described in § 3(a) or § 3(b), then any shares of Restricted Stock that are not
then vested shall be completely forfeited on the date of such termination.

§ 4. GRANTEE’S RIGHTS DURING RESTRICTED PERIOD.

(a) During any period when the shares of Restricted Stock are forfeitable, the Grantee may
generally exercise all the rights, powers, and privileges of a shareholder with respect to the
shares of Restricted Stock, including the right to vote such shares and to receive all regular cash
dividends and any stock dividends, and such other distributions as the Committee may designate in
its sole discretion, that are paid or distributed on such shares of Restricted Stock. Any Stock
dividends declared on a share of Restricted Stock shall be treated as part of the Grant of
Restricted Stock and shall be forfeited or become nonforfeitable at the same time as the underlying
Stock with respect to which the Stock dividend was declared.

(b) No rights granted under the Plan or this Stock Agreement and no shares issued pursuant to this
Grant shall be deemed transferable by the Grantee other than by will or by the laws of descent and
distribution prior to the time the Grantee’s interest in such shares has become fully vested.

§ 5. DELIVERY OF VESTED SHARES.

(a) Shares of Restricted Stock that have vested in accordance with § 2 or § 3 shall be delivered
(via certificate or such other method as the Committee determines) to the Grantee as soon as
practicable after vesting occurs.

(b) By accepting shares of Restricted Stock, the Grantee agrees not to sell such shares at a time
when applicable laws or SunTrust’s rules prohibit a sale. This restriction will apply as long as
the Grantee is a director, employee or consultant of SunTrust or a Subsidiary. Upon receipt of
nonforfeitable shares subject to this Stock Agreement, the Grantee agrees, if so requested by
SunTrust, to hold such shares for investment and not with a view of resale or distribution to the
public, and if requested by SunTrust, the Grantee must deliver to SunTrust a written statement
satisfactory to SunTrust to that effect. The Committee may refuse to deliver (via certificate or
such other method as the Committee determines) any shares to Grantee for which Grantee refuses to
provide an appropriate statement.

(c) To the extent that Grantee does not vest in any shares of Restricted Stock, all interest in
such shares shall be forfeited. The Grantee has no right or interest in any share of Restricted
Stock that is forfeited.

§ 6. OTHER LAWS. SunTrust shall have the right to refuse to issue or transfer any shares under this
Stock Agreement if SunTrust acting in its absolute discretion determines that the issuance or
transfer of such Stock might violate any applicable law or regulation.

§ 7. MISCELLANEOUS.

(a) This Stock Agreement shall be subject to all of the provisions, definitions, terms and
conditions set forth in the Plan and any interpretations, rules and regulations promulgated by the
Committee from time to time, all of which are incorporated by reference in this Stock Agreement.

(b) The Plan and this Stock Agreement shall be governed by the laws of the State of Georgia
(without regard to its choice-of-law provisions).

(c) Any written notices provided for in this Stock Agreement that are sent by mail shall be deemed
received three (3) business days after mailing, but not later than the date of actual receipt.
Notices shall be directed, if to Grantee, at Grantee’s address indicated by SunTrust’s records and,
if to SunTrust, at SunTrust’s principal executive office.

(d) If one or more of the provisions of this Stock Agreement shall be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable
provisions shall be deemed null and void; however, to the extent permissible by law, any provisions
which could be deemed null and void shall first be construed, interpreted or revised retroactively
to permit this Stock Agreement to be construed so as to foster the intent of this Stock Agreement
and the Plan.

(e) This Stock Agreement (which incorporates the terms and conditions of the Plan) constitutes the
entire agreement of the parties with respect to the subject matter hereof. This Stock Agreement
supersedes all prior discussions, negotiations, understandings, commitments and agreements with
respect to such matters.EX-10.2

SunTrust Banks, Inc.

2009 Stock Plan

Non-Employee Director Restricted
Stock Unit Agreement

SunTrust Banks, Inc. (“SunTrust”), a Georgia corporation, upon the recommendation of the
Governance and Nominating Committee of its Board of Directors and pursuant to action of the
Compensation Committee (“Committee”) in accordance with the SunTrust Banks, Inc. 2009 Stock Plan
(“Plan”), has granted restricted stock units (the “Restricted Stock Units”) as an incentive for
Grantee to promote the interests of SunTrust and its Subsidiaries. Each Restricted Stock Unit
represents the right to receive a payment in cash equal to the Fair Market Value of SunTrust Common
Stock, $1.00 par value, at a future date and time, subject to the terms of this Restricted Stock
Unit Agreement.

 

	 	 	 	 	 	 	 	 	 
	Name of Grantee
	 	 	  	 	 	 	 	 
	 	 	 
	Number of Restricted Stock Units
	 	 	  	 	 	 	 	 
	 	 	 
	Grant Date
	 	 	  	 	 	 	 	 
	Closing Price of SunTrust Stock on Grant Date
	 	 	 	 	 	$		

This Non-Employee Director Restricted Stock Unit Agreement (the “Agreement”) evidences this
grant, which has been made subject to all the terms and conditions set forth on the attached Terms
and Conditions and in the Plan.

 

	 
	SUNTRUST BANKS, INC.

	Authorized Officer

§ 1. EFFECTIVE DATE. This Grant of Restricted Stock to the Grantee is effective as
of [Grant Date] (“Grant Date”).

§ 2. VESTING. All Restricted Stock Units subject to this Agreement shall vest upon the
earlier of (a) the first (1st) anniversary of the Grant Date, and (b) the next annual
meeting of shareholders of the Company (“Vesting Date”), provided that Grantee is an active member
of SunTrust’s Board of Directors (“Board”) on that date and such Restricted Stock Units have not
previously vested or been forfeited pursuant to § 3.

§ 3. ACCELERATED VESTING.

(a) If the Grantee’s membership on the Board terminates prior to the Vesting Date and the date of a
Change in Control as a result of the Grantee’s (i) death, (ii) disability within the meaning of
Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”)) or (iii) attainment
of mandatory retirement age for Board members, then a pro-rata number of Restricted Stock Units
shall be vested on the date of such termination. The pro-rata number of Restricted Stock Units
shall equal the product of: (A) the number of Restricted Stock Units subject to this Agreement;
multiplied by (B) a fraction, the numerator of which is equal to the number of days from the Grant
Date through the date of such termination of membership on the Board, and the denominator of which
is equal to the number of days from the Grant Date through the Vesting Date. In the event of such
pro-rata vesting, any Restricted Stock Units (and related Dividend Equivalent Rights (as defined
below)) subject to this Agreement that do not vest pursuant to this §3(a) shall terminate and be
completely forfeited on such date.

(b) If there is a Change in Control followed by the involuntary termination of the Grantee’s
membership on the Board prior to the Vesting Date, and if such termination is not a Termination for
Cause (as defined below), then all Restricted Stock Units (and related Dividend Equivalent Rights)
subject to this Agreement shall become vested on the date of such termination.

(c) If the Grantee’s membership on the Board terminates prior to the Vesting Date for any reason
other than those described in § 3(a) or § 3(b), then any Restricted Stock Units that are not then
vested (and related Dividend Equivalent Rights) shall be completely forfeited on the date of such
termination.

(d) For purposes of this Agreement, the following terms shall have the meanings set forth below:

(i) Termination for Cause – means termination of membership on the Board which is made
primarily because of (A) Grantee’s commission of a felony, or Grantee’s perpetration of a dishonest
act, misappropriation of funds, embezzlement, criminal conduct or common law fraud against SunTrust
or any Subsidiary, or (B) any other willful act or omission of the Grantee which is materially
injurious to the financial condition or business reputation of SunTrust or any Subsidiary.

(ii) Dividend Equivalent Right – means a right that entitles the Grantee to receive an amount
equal to any dividends paid on a share of Stock, which dividends have a record date between the
Grant Date and the date the Restricted Stock Units are paid.

§ 4. GRANTEE’S RIGHTS PRIOR TO PAYMENT.

(a) The Grantee shall be entitled to a Dividend Equivalent Right for each Restricted Stock Unit
subject to this Agreement that vests. Amounts deemed received pursuant to such Dividend Equivalent
Rights shall be treated as though they were reinvested in Restricted Stock Units and as part of
this grant on the date related dividends are paid, so that they shall be forfeited or payable at
the same time as the Restricted Stock Units.

(b) Neither the Plan, this Agreement nor the Restricted Stock Units give the Grantee any rights as
a shareholder of SunTrust, including the right to vote or receive dividends. The Grantee is an
unsecured general creditor of SunTrust with respect to any cash payment relating to vested
Restricted Stock Units, and any payment provided pursuant to this Agreement shall be made from
SunTrust’s general assets.

(c) No Restricted Stock Units granted pursuant to this Agreement shall be deemed transferable by
the Grantee other than by will or by the laws of descent and distribution prior to the time the
Restricted Stock Units become payable to the Grantee or to his or her beneficiary.

§ 5. PAYMENT OF AWARD.

(a) Unless the Restricted Stock Units subject to this Agreement are deferred pursuant to the
SunTrust Banks, Inc. Directors Deferred Compensation Plan (the “Deferred Compensation Plan”), the
value of the vested Restricted Stock Units (and related Dividend Equivalent Rights) shall be paid
in a cash lump sum on the Vesting Date. For purposes of the preceding sentence, the value of each
vested Restricted Stock Unit will equal the Fair Market Value of a share of Stock on the Vesting
Date. In the event the Restricted Stock Units subject to this Agreement are deferred, such
Restricted Stock Units (and related Dividend Equivalent Rights) shall be paid in accordance with
the terms of the Deferred Compensation Plan.

(b) To the extent that Grantee does not vest in any Restricted Stock Units, all interest in such
Restricted Stock Units (and related Dividend Equivalent Rights) shall be forfeited. The Grantee
has no right or interest in any Restricted Stock Unit or related share of Stock that is forfeited.

§ 6. WITHHOLDING. Upon the payment of any Restricted Stock Units, SunTrust’s obligation
to deliver cash to settle the vested Restricted Stock Units and Dividend Equivalent Rights shall be
subject to the satisfaction of applicable tax withholding requirements, including federal, state,
and local requirements. The Grantee must pay to SunTrust any applicable federal, state or local
withholding tax due as a result of such payment.

§ 7. NO SERVICE RIGHTS. Nothing in the Plan or this Agreement or any related material
shall give the Grantee the right to continue as a member of the Board of SunTrust or any Subsidiary
or adversely affect the right of SunTrust or any Subsidiary to terminate the Grantee’s membership
on the Board with or without cause at any time.

§ 8. MISCELLANEOUS.

(a) This Agreement shall be subject to all of the provisions, definitions, terms and conditions set
forth in the Plan and any interpretations, rules and regulations promulgated by the Committee from
time to time, all of which are incorporated by reference in this Agreement.

(b) The Plan and this Agreement shall be governed by the laws of the State of Georgia (without
regard to its choice-of-law provisions).

(c) If one or more of the provisions of this Agreement shall be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable
provisions shall be deemed null and void; however, to the extent permissible by law, any provisions
which could be deemed null and void shall first be construed, interpreted or revised retroactively
to permit this Agreement to be construed so as to foster the intent of this Agreement and the Plan.

(d) This Agreement (which incorporates the terms and conditions of the Plan) and, in the event the
Restricted Stock Units are deferred, the Deferred Compensation Plan constitute the entire agreement
of the parties with respect to the subject matter hereof. This Agreement and the Deferred
Compensation Plan, if applicable, supersede all prior discussions, negotiations, understandings,
commitments and agreements with respect to such matters.

(e) The Restricted Stock Units and related Dividend Equivalent Rights are intended to comply with
Code Section 409A and official guidance issued thereunder. Notwithstanding anything herein to the
contrary, this Agreement shall be interpreted, operated and administered in a manner consistent
with this intention.

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