Document:

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                                                                  Exhibit 10(iv)

                                FIRST AMENDMENT
                                OF THE RESTATED
                          NORTHERN TRUST CORPORATION
                           SUPPLEMENTAL PENSION PLAN

         WHEREAS, the Northern Trust Corporation (the "Corporation") sponsors
the Restated Northern Trust Corporation Supplemental Pension Plan (the "Plan");
and

         WHEREAS, pursuant to Section 6.1 of the Plan, the Corporation has the
right to amend the Plan when the Corporation deems such amendment to be
advisable; and

         WHEREAS, the Corporation deems it advisable to amend the Plan;

         NOW, THEREFORE, the Plan is hereby amended as follows:

         1.    Section 1.4 of the Plan is hereby amended and restated in its
               entirety and replaced with a new Subsection 1.4 to read as
               follows:

               A "Change in Control" shall be deemed to have occurred if the
event set forth in any one of the following paragraphs shall have occurred:

               (1)  any Person is or becomes the Beneficial Owner, directly or
               indirectly, of securities of Northern Trust Corporation (the
               "Corporation") (not including in the securities beneficially
               owned by such Person any securities acquired directly from the
               Corporation or its affiliates) representing 20% or more of the
               combined voting power of the Corporation's then outstanding
               securities, excluding any Person who becomes such a Beneficial
               Owner in connection with a transaction described in clause (i) of
               paragraph (3) below; or

               (2) The election to the Board of Directors of the Corporation,
               without the recommendation or approval of two thirds of the
               incumbent Board of Directors of the Corporation, of the lesser
               of: (A) three directors; or (B) directors constituting a majority
               of the number of directors of the Corporation then in office,
               provided, however, that directors whose initial assumption of
               --------  -------
               office is in connection with an actual or threatened election
               contest, including but not limited to a consent
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               solicitation, relating to the election of directors of the
               Corporation will not be considered as incumbent members of the
               Board of Directors of the Corporation for purposes of this
               section; or

               (3)  there is consummated a merger or consolidation of the
               Corporation or any direct or indirect subsidiary of the
               Corporation with any other company, other than (i) a merger or
               consolidation which would result in the voting securities of the
               Corporation outstanding immediately prior to such merger or
               consolidation continuing to represent (either by remaining
               outstanding or by being converted into voting securities of the
               surviving entity or any parent thereof), at least 60% of the
               combined voting power of the securities of the Corporation or
               such surviving entity or any parent thereof out standing
               immediately after such merger or consolidation, or (ii) a merger
               or consolidation effected to implement a recapitalization of the
               Corporation (or similar transaction) in which no Person is or
               becomes the Beneficial Owner, directly or indirectly, of
               securities of the Corporation (not including in the securities
               Beneficially Owned by such Person any securities acquired
               directly from the Corporation or its Affiliates) representing 20%
               or more of the combined voting power of the Corporation's then
               outstanding securities; or

               (4)  the stockholders of the Corporation approve a plan of
               complete liquidation or dissolution of the Corporation or there
               is consummated an agreement for the sale or disposition by the
               Corporation of all or substantially all of the Corporation's
               assets, other than a sale or disposition by the Corporation of
               all or substantially all of the Corporation's assets to an
               entity, at least 60% of the combined voting power of the voting
               securities of which are owned by stockholders of the Corporation
               in substantially the same proportions as their ownership of the
               Corporation immediately prior to such sale.

         Notwithstanding the foregoing, a "Change in Control" shall not be
         deemed to have occurred by virtue of the consummation of any
         transaction or series of integrated transactions immediately following
         which the record holders of the common stock of the Corporation
         immediately prior to such transaction or series of transactions
         continue to have substantially the same proportionate ownership in an
         entity which owns all or substantially all of the assets of the
         Corporation immediately following such transaction or series of
         transactions.

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         For purposes of this Section 1.4 and 1.21 (where applicable) the
following definitions shall apply:

         "Affiliate" shall have the meaning set forth in Rule 12b-2 under
         Section 12 of the Exchange Act; "Beneficial Owner" shall have the
         meaning set forth in Rule 13d-3 under the Exchange Act, except that a
         Person shall not be deemed to be the Beneficial Owner of any securities
         with respect to which such Person has properly filed a Form 13-G;
         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
         amended from time to time; and "Person" shall have the meaning given in
         Section 3(a)(9) of the Exchange Act, as modified and used in Sections
         13(d) and 14(d) thereof, except that such term shall not include (i)
         the Corporation or any of its Affiliates, (ii) a trustee or other
         fiduciary holding securities under an employee benefits plan of the
         Corporation or any of its subsidiaries, (iii) an underwriter
         temporarily holding securities pursuant to an offering of such
         securities or (iv) a corporation owned, directly or indirectly, by the
         stockholders of the Corporation in substantially the same proportions
         as their ownership of stock of the Corporation.

         2.   Article 1 is amended by redesignating Section 1.21 as Section
              1.22.

         3.   Article 1 is amended by adding the following new Section 1.21
              thereto:

              A "Potential Change in Control" shall be deemed to have
         occurred if the event set forth in any one of the following paragraphs
         shall have occurred:

              (a)  the Corporation enters into an agreement, the consummation of
              which would result in the occurrence of a Change in Control;

              (b)  the Corporation or any Person publicly announces an intention
              to take or to consider taking actions which, if consummated, would
              constitute a Change in Control;

              (c)  any Person becomes the Beneficial Owner, directly or
              indirectly, of securities of the Corporation representing 15% or
              more of either the then outstanding shares of common stock of the
              Corporation or the combined voting power of the Corporation's then
              outstanding

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              securities (not including in the securities beneficially owned by
              such Person any securities acquired directly from the Corporation
              or its Affiliates); or

              (d)  the Board adopts a resolution to the effect that, for
              purposes of this Plan, a Potential Change in Control has occurred.

         4.   Section 3.2 is hereby amended by deleting the second sentence
              thereof.

         5.   Section 6.1 is hereby amended by adding the following new sentence
              after the last sentence thereof:

              Notwithstanding the foregoing, (i) for a period of two years after
              the date of an occurrence of a Change in Control or (ii) in the
              event of a Potential Change in Control and for a period of six (6)
              months following the Potential Change in Control, neither the
              Board nor the Committee may terminate this Plan or amend this Plan
              in a manner that adversely affects the rights of any Participant
              of the Plan. In addition, after the date of the occurrence of a
              Change in Control, no amendment of Sections 3.4 or 4.2 of the Plan
              shall be effective with respect to any Participant who is a
              Participant as of the occurrence of a Change in Control without
              the consent of such Participant.

         This First Amendment to the Plan shall be effective from and after May
16, 2000.

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         IN WITNESS WHEREOF, the Corporation has caused this amendment to be
executed on its behalf as of this 16/th/ day of May, 2000.

                                                 NORTHERN TRUST CORPORATION

                                                 By: /s/ Peter L. Rossiter
                                                     ---------------------
                                                 Name: Peter L. Rossiter
                                                 Title: Executive Vice President

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                                                                   Exhibit 10(v)

                            SECOND AMENDMENT TO THE
                          DEFERRED COMPENSATION PLANS
                                TRUST AGREEMENT

          This Second Amendment to the Northern Trust Corporation Deferred
Compensation Plans Trust Agreement (the "Trust Agreement") is made as of May 16,
2000, by and between Northern Trust Corporation (the "Company") and U.S. Trust
Company, National Association (the "Trustee"):

          WHEREAS, the Company and the Trustee entered into the Trust Agreement
as of May 11, 1998 and first amended the Trust Agreement on August 31,
1999; and

          WHEREAS, pursuant to Section 12 of the Trust Agreement, the Trust
Agreement may be amended by a written instrument executed by the Trustee
and the Company.

          NOW THEREFORE, the Trust Agreement is hereby amended as follows:

1.        A new Section 15 is added to the Trust Agreement to read as follows:

          Section 15.  Potential Change in Control.
                       ---------------------------

          (a)  Notwithstanding anything to the contrary in this Trust Agreement,
          the provisions of this Section 15 shall apply in the event of a
          Potential Change in Control (as defined below).

          (b)  For purposes of this Trust Agreement, a "Potential Change in
          Control" shall mean any of the following:

               (i)  the Company enters into an agreement, the consummation of
               which would result in the occurrence of a Change in Control (as
               such term is defined in Section 16;

               (ii) the Company or any Person (as such term is defined in
               Section 16 publicly announces an intention to take or to consider
               taking actions which, if consummated, would constitute a Change
               in Control;
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     (iii) any Person becomes the Beneficial Owner (as such term is
     defined in Section 16 directly or indirectly, of securities of
     the Company representing 15% or more of either the then
     outstanding shares of common stock of the Company or the combined
     voting power of the Company's then outstanding securities (not
     including in the securities beneficially owned by such Person any
     securities acquired directly from the Company or its affiliates);
     or

     (iv)  the board of directors of the Company adopts a resolution
     to the effect that, for purposes of this Trust Agreement, a
     Potential Change in Control has occurred.

(c)  As soon as practicable following their receipt of notice from the Company
or its independent determination that a Potential Change in Control has
occurred, the Trustee shall request that the duly-appointed record-keeper for
the Trust (currently, Northern Trust Retirement Consulting, L.L.C.) provide the
Trustee and the Company, in writing, with the amount of the Unfunded Liability
(as defined below) as of a date not more than 30 days from the date of such
request. Within 30 days following the receipt of such notice, the Company shall
contribute a cash amount equal to the amount of the Unfunded Liability to the
Trust.

(d)  For purposes of this Trust Agreement, the "Unfunded Liability" as of the
date of a Potential Change in Control shall be the amount by which the aggregate
present value of each participant's account in any Plan as of such date exceeds
the fair market value of the Trust's assets as of such date. For purposes of
this Trust Agreement, a present value shall be determined using the discount
rate specified for the lump sum form of distribution specified in each Plan.
Where no rate is specified by a Plan, the present value shall be equal to the
account balance determined following normal record keeping practices.

(e)  In the event a Change in Control does not occur during the one year period
beginning on the date of a Potential Change in Control, the Company may deliver
a written request to the Trustee during the 180 day period beginning on the last
day of such one year period requesting that the Trustee return to the Company
the amount of the Unfunded Liability contributed by the Company in connection
with such Potential Change in Control. The Trustee shall be entitled to rely
upon a statement by the Company in such request that a Change in Control has not
occurred during such period and

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     shall, within a reasonable period following such request, return such
     amount of Unfunded Liability to the Company.

2.   A new Section 16 is added to the Trust Agreement as follows:

     Section 16.  Change in Control.
                  -----------------

     (a)  Notwithstanding anything to the contrary in this Trust Agreement, the
     provisions of this Section 16 shall apply in the event of a Change in
     Control.

     (b)  Immediately upon the occurrence of a Change in Control, the Company
     shall notify each Plan participant (or beneficiary) and the Trustee in
     writing of the occurrence of such Change in Control.

     (c)  As soon as reasonably practicable following their receipt of notice
     from the Company of the occurrence of a Change in Control or its
     independent determination that a Change in Control has occurred, the
     Trustee shall request that the duly-appointed record-keeper for the Trust
     (currently, Northern Trust Retirement Consulting, L.L.C.) provide the
     Trustee and the Company, in writing of the amount of the Additional
     Unfunded Liability (as defined below) as of a date not more than 30 days
     before the date such notice is given to the Company. Within 30 days
     following its receipt of such notice, the Company shall contribute a cash
     amount equal to the amount of the Additional Unfunded Liability to the
     Trust.

     (d)  For purposes of this Trust Agreement, the "Additional Unfunded
     Liability" as of the date of the Change in Control shall equal the sum of
     (a) the amount by which the aggregate present value of each participant's
     account in any Plan as of such date exceeds the fair market value of the
     Trust's assets as of such date (including any Plan which is required to be
     added to Appendix A by reason of the Change in Control);

     (e)  For purposes of this Section 16, a "Change in Control" shall be deemed
     to have occurred if the event set forth in any one of the following
     paragraphs shall have occurred:

          (1)  any Person is or becomes the Beneficial Owner, directly or
          indirectly, of securities of the Company (not including in the
          securities beneficially owned by such Person any securities acquired
          directly from the Company or its affiliates) representing 20% or more

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          of the combined voting power of the Company's then outstanding
          securities, excluding any Person who becomes such a Beneficial Owner
          in connection with a transaction described in clause (i) of paragraph
          (3) below; or

          (2)  the election to the Board of Directors of the Company, without
          the recommendation or approval of two thirds of the incumbent Board of
          Directors of the Company, of the lesser of: (A) three directors; or
          (B) directors constituting a majority of  the number of directors of
          the Company then in office, provided, however, that directors whose
                                      --------  -------
          initial assumption of office is in connection with an actual or
          threatened election contest, including but not limited to a consent
          solicitation, relating to the election of directors of the Company
          will not be considered as incumbent members of the Board of Directors
          of the Company for purposes of this section; or

          (3)  there is consummated a merger or consolidation of the Company or
          any direct or indirect subsidiary of the Company with any other
          company, other than (i) a merger or consolidation which would result
          in the voting securities of the Company outstanding immediately prior
          to such merger or consolidation continuing to represent (either by
          remaining outstanding or by being converted into voting securities of
          the surviving entity or any parent thereof), at least 60% of the
          combined voting power of the securities of the Company or such
          surviving entity or any parent thereof outstanding immediately after
          such merger or consolidation, or (ii) a merger or consolidation
          effected to implement a recapitalization of the Company (or similar
          transaction) in which no Person is or becomes the Beneficial Owner,
          directly or indirectly, of securities of the Company (not including in
          the securities Beneficially Owned by such Person any securities
          acquired directly from the Company or its Affiliates) representing 20%
          or more of the combined voting power of the Company's then outstanding
          securities; or

          (4)  the stockholders of the Company approve a plan of complete
          liquidation or dissolution of the Company or there is consummated an
          agreement for the sale or disposition by the Company of all or
          substantially all of the Company's assets, other than a sale or
          disposition by the Company of all or substantially all of the
          Company's assets to an entity, at least 60% of the combined voting

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          power of the voting securities of which are owned by stockholders of
          the Company in substantially the same proportions as their ownership
          of the Company immediately prior to such sale.

     Notwithstanding the foregoing, a "Change in Control" shall not be deemed to
     have occurred by virtue of the consummation of any transaction or series of
     integrated transactions immediately following which the record holders of
     the common stock of the Company immediately prior to such transaction or
     series of transactions continue to have substantially the same
     proportionate ownership in an entity which owns all or substantially all of
     the assets of the Company immediately following such transaction or series
     of transactions.

     For purposes of this Section 16 and Section 15 (where applicable) the
following definitions shall apply:

     "Affiliate" shall have the meaning set forth in Rule  12b-2 under Section
     12 of the Exchange Act; "Beneficial Owner" shall have the meaning set forth
     in Rule 13d-3 under the Exchange Act, except that a Person shall not be
     deemed to be the Beneficial Owner of any securities with respect to which
     such Person has properly filed a Form 13-G; "Exchange Act" shall mean the
     Securities Exchange Act of 1934, as amended from time to time; and
     "Person" shall have the meaning given in Section 3(a)(9) of the Exchange
     Act, as modified and used in Sections 13(d) and 14(d) thereof, except that
     such term shall not include (i) the Company or any of its Affiliates, (ii)
     a trustee or other fiduciary holding securities under an employee benefits
     plan of the Company or any of its subsidiaries, (iii) an underwriter
     temporarily holding securities pursuant to an offering of such securities
     or (iv) a corporation owned, directly or indirectly, by the stockholders of
     the Company in substantially the same proportions as their ownership of
     stock of the Company.

3.   A subsection (c) is added to Section 12 of the Trust Agreement to read as
follows:

          (c)  Following a Change in Control, no amendment to the Trust
     Agreement shall be made that affects the Payment Schedule or otherwise
     results in an alteration of the payment of benefits from the Trust.

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     The foregoing amendment will be effective as of the date set forth above.

                              NORTHERN TRUST CORPORATION

                              By: /s/ Peter L. Rossiter
                                  ----------------------------------
                                  Name:  Peter L. Rossiter
                                  Title: Executive Vice President

                              U.S. TRUST COMPANY, NATIONAL
                              ASSOCIATION, as Trustee

                              By: /s/ Dennis M. Kunisaki
                                  ----------------------------------
                                  Name:  Dennis M. Kunisaki
                                  Title: Senior Vice President

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