Document:

exhibit102

                                                                                                                                                                                                                                                                                                                                       AMENDED AND RESTATED       STATE STREET CORPORATION  SUPPLEMENTAL CASH INCENTIVE PLAN                                       Effective as of January 1, 2014                  

 

                            TABLE OF CONTENTS   ARTICLE I Name, Purpose and Definitions .................................................................................. 1    1.1  Name and Effective Date. ................................................................................................ 1    1.2  Status of Plan ................................................................................................................... 1    1.3  Definitions........................................................................................................................ 1  ARTICLE II Participation And Vesting ......................................................................................... 3    2.1  Eligibility to Participate ................................................................................................... 3    2.2  Vesting Date..................................................................................................................... 3    2.3  Termination of Participation ............................................................................................ 3  ARTICLE III Awards and Distribution .......................................................................................... 3    3.1  Awards; Award Provisions .............................................................................................. 3    3.2  Accounts; Notional Tracking Options ............................................................................. 3    3.3  Form of Payment.............................................................................................................. 4    3.4  Timing of Payment .......................................................................................................... 4    3.5  Treatment of Awards following Separation of Service ................................................... 4    3.6  Forfeiture of Awards ........................................................................................................ 5    3.7  Special Rules .................................................................................................................... 5    3.8  Rehire ............................................................................................................................... 5    3.9  Certain Tax Matters.  . ..................................................................................................... 5    3.10 Distribution of Taxable Amounts .................................................................................... 6  ARTICLE IV Administration of Plan ............................................................................................. 6    4.1  Plan Administrator ........................................................................................................... 6    4.2  Outside Services............................................................................................................... 7    4.3  Indemnification ................................................................................................................ 7  ARTICLE V Amendment, Modification and Termination............................................................. 7    5.1  Amendment; Termination ................................................................................................ 7  ARTICLE VI Miscellaneous Provisions ........................................................................................ 7    6.1  Source of Payments.......................................................................................................... 7    6.2  No Warranties; No Liability ............................................................................................ 8    6.3  Inalienability of Benefits.................................................................................................. 8    6.4  Reclassification of Employment Status ........................................................................... 8    6.5  Application of Local Law.. .............................................................................................. 8    6.6  Expenses. ......................................................................................................................... 8    6.7  No Right of Employment ................................................................................................. 9    6.8  Headings .......................................................................................................................... 9    6.9  Construction ..................................................................................................................... 9                                          -i-  

 

                                    ARTICLE I                           Name, Purpose and Definitions    1.1   Name and Effective Date.  The Plan sets forth the terms of the Amended and Restated        State Street Corporation Supplemental Cash Incentive Plan effective January 1, 2014.         All benefits under the Plan shall be subject to the terms and conditions of this Plan        document.   1.2   Status of Plan.  The Plan has been established for the purpose of rewarding, retaining and        motivating Participants for services and performance during the period from the date of        grant of an Award to the date of vest of an Award.  The Plan is intended to be a bonus        plan which is not subject to ERISA.  The provisions of the Plan are intended to comply        with the requirements applicable to a “nonqualified deferred compensation plan” under        Code section 409A and the regulations thereunder and shall be interpreted and        administered consistent with that intent.   1.3   Definitions.  When used herein, the following words shall have the meanings indicated        below.        (a)   “Award” means that portion of the cash bonus awarded to an Eligible Employee              under the Company’s Incentive Compensation Plan, or any other cash award to an              Eligible Employee, that the Plan Administrator determines, in its discretion, is to              be paid in accordance with the terms of this Plan.        (b)   “Award Agreement” means the document established pursuant to Section 3.1(b).        (c)   “Beneficiary” means the person or persons designated by the Participant in              writing, subject to such rules as the Plan Administrator may prescribe, to receive              benefits under the Plan in the event of the Participant’s death.  In the absence of              an effective designation at the time of the Participant’s death, the Participant’s              Beneficiary shall be his or her surviving spouse or domestic partner as determined              by the Plan Administrator in its discretion in accordance with its policies, or, if              the Participant has no surviving spouse or domestic partner, then the Participant’s              estate.        (d)   “Code” means the Internal Revenue Code of 1986, as amended, and its              implementing regulations from time to time.        (e)   “Company” means State Street Corporation, its subsidiaries and affiliates as              determined by the Plan Administrator in its sole discretion.        (f)   “Committee” means the Executive Compensation Committee of the Board of              Directors of State Street Corporation.        (g)   “Disabled” means, for any Participant, that the Participant, as determined in the              sole discretion of the Plan Administrator:               is unable to engage in any substantial gainful activity by reason of any medically              determinable physical or mental impairment that can be expected to result in              death or can be expected to last for a continuous period of not less than 12              months, or                                         1    

 

                      is, by reason of any medically determinable physical or mental impairment that        can be expected to result in death or can be expected to last for a continuous        period of not less than 12 months, receiving income replacement benefits for a        period of not less than 6 months under an accident and health plan covering        employees of the Employer.  (h)   “EIP” means the 2006 Equity Incentive Plan, as may be amended and in effect        from time to time, or successor equity incentive plan of the Company  (i)   “Eligible Employee” means any employee of an Employer.  (j)   “Employer” means any or all, as the context requires in order to refer to the        employing entity of a Participant, of State Street Corporation and any other entity        (or branch) that would be treated as a member of the same controlled group of        corporations, or as trades or business under common control, with State Street        Corporation, under Code sections 414(b) and (c).  (k)   “ERISA” means the Employee Retirement Income Security Act of 1974, as        amended, and its implementing regulations from time to time.  (l)   “Incentive Compensation Plan” means the annual incentive compensation plan        under which an Eligible Employee receives a cash award, currently either the        Incentive Compensation Plan or the Senior Executive Annual Incentive Plan.  (m)   “Participant” means an Eligible Employee who has an unpaid Award under the        Plan.  (n)   “Plan” means this Amended and Restated State Street Corporation Supplemental        Cash Incentive Plan, as from time to time amended and in effect.  (o)   “Plan Administrator” means the Plan Administrator appointed pursuant to        Section 4.1.  (p)   “Release of Claims” means contractual documentation releasing the Company        and the Employer, to the maximum extent permitted by applicable law, from all        contractual and statutory claims a Participant has, or may have, in connection with        his or her employment, engagement or termination thereof.  (q)   “Retirement Eligible” means an Eligible Employee is age 55 or older and has        completed five (5) or more years of service with the Company.  For this purpose,        years of service shall be determined using Company records in a consistent        manner by the Plan Administrator in its sole discretion.  (r)   “Restrictive Covenant” means any confidentiality, non-solicitation, non-       competition, non-disparagement, post-employment cooperation or notice        provision that the Participant agrees to or has agreed to with the Employer,        including but not limited to the restrictions contained in the Award Agreement,        any employment agreement or offer letter, equity award agreement, change in        control employment agreement or required as a condition to entitlement to        payment under any executive supplemental retirement plan.  (s)   “Separation from Service” means a separation from service, within the meaning        of Treas. Regs. §1.409A-1(h), with all Employers that would be treated as a single                                   2                 

 

               employer with State Street Corporation under the first sentence of Treas. Regs.              §1.409A-1(h)(3).        (t)   “Vest,” “vesting,” and terms of similar import refer to the Participant’s right to              payment under an Award becoming non-forfeitable.        (u)   “Written” “in writing” and similar terms.  To the extent permitted by the Plan              Administrator, the terms “written,” “in writing,” and terms of similar import shall              include communications by electronic media.                                                 ARTICLE II                             Participation And Vesting   2.1   Eligibility to Participate.  An Eligible Employee shall become a Participant when issued        an Award payable under the terms of this Plan.   2.2   Vesting Date.  Each Award shall vest as specified in the Award Agreement or        accompanying statement at the time of the issuance of the Award.   2.3   Termination of Participation.  Participation in the Plan shall end when all Awards issued        to a Participant are either distributed or forfeited consistent with the terms of this Plan.                                       ARTICLE III                              Awards and Distribution    3.1   Awards; Award Provisions.           (a)   Awards shall be issued to Eligible Employees (other than executive officers of the              Company) as determined by the Committee or the Plan Administrator in its sole              discretion.  Awards may be issued to Eligible Employees who are executive              officers of the Company by the Committee in its sole discretion.        (b)   The Plan Administrator will determine the terms of all Awards, subject to the              limitations set forth herein, including without limitation the time or times at which              an Award will vest.  Without limiting the foregoing, the Plan Administrator may              at any time accelerate the vesting of an Award, regardless of any adverse or              potentially adverse tax consequences resulting from such acceleration.  The Plan              Administrator will document each Award with a written agreement that may set              forth specific terms applicable to the Award, including without limitation              forfeiture conditions in addition to those specified in Section 3.6, performance              criteria, notional tracking designations as described in Section 3.2 and such other              provisions, as may determined by the Plan Administrator in its sole discretion.  3.2   Accounts; Notional Tracking Options.  The Plan Administrator shall establish for each        Participant a bookkeeping account together with such sub-accounts as the Plan        Administrator may determine are needed or appropriate to reflect interest provided for in        the Participant’s Award and/or adjustments for notional (hypothetical) investment                                        3    

 

         experience as described in this Section 3.2.  The Plan Administrator may in its discretion        designate for purposes of the Plan one or more funds (each, a “tracking fund”) and may        allocate the amount of each Award made under the Plan in whole or in part among such        tracking funds.  The Plan Administrator may also provide a Participant with the        discretion to elect to allocate the amount of any Award made under the Plan in whole or        in part among such tracking funds.  In the absence of an affirmative allocation by a        Participant, the Plan Administrator may designate a default tracking fund and allocate the        amount of any Award made under the Plan in whole or in part to such tracking fund.         Amounts allocated under the Plan to a tracking fund shall be treated as though notionally        invested in that tracking fund.  The Plan Administrator shall periodically adjust        Participant accounts to reflect increases or decreases attributable to these notional        investments.  The Plan Administrator shall adjust accounts to reflect the notional        reinvestment of an amount equivalent to any cash dividends or other cash distributions        from a tracking fund. The Plan Administrator may at any time and from time to time        eliminate or add tracking funds or substitute a new fund for an existing tracking fund,        including with respect to balances already notionally invested under the Plan.  The Plan        Administrator may, but need not, direct the purchase of securities or other investments        with characteristics similar to the tracking funds, but any such securities or other        investments shall remain part of the Company’s general assets unless held in a trust        described in Section 6.1 in a manner not inconsistent with the requirements of Section        409A(b) of the Code.  By his or her acceptance of an Award under the Plan, a Participant        agrees, on his or her behalf and on behalf of his or her Beneficiaries, that none of the        Company, any Employer, the Committee, the Plan Administrator, or any of their        delegates, agents or representatives, shall be liable for any losses or damages of any kind        relating to the allocation of an Award to any tracking fund or funds under the Plan.   3.3   Form of Payment.  All payments under this Plan will be made in cash out of the        Company’s general corporate assets.   3.4   Timing of Payment.  The amount of any payment due under an Award shall be        determined on the vesting date of such payment and, subject to satisfaction of all        conditions of this Plan and the Award Agreement, shall be made to the Participant as        soon as administratively feasible following the vesting date, but in no event later than 30        days following the vesting date.   3.5   Treatment of Awards following Separation of Service.  Following Separation from        Service:         (a)   A Participant shall continue to vest in any outstanding Award, subject to Section              3.6, if such Participant:              is Retirement Eligible at the time of the Separation from Service; or              is involuntarily terminated for reasons other than gross misconduct as determined              by the Plan Administrator in its sole discretion and the Participant executes a              Release of Claims in a form satisfactory to the Plan Administrator.          (b)   Upon the Participant’s death or becoming Disabled, the Participant shall vest in              accordance with Section 3.7.                                         4    

 

         (c)   Except as provided otherwise in Section 3.7, vesting post-separation, where              applicable, shall continue in accordance with the vesting schedule specified at the              time of the issuance of the Award.    3.6   Forfeiture of Awards. A Participant shall forfeit all Awards and all amounts due under        any Awards if:        (a)   He or she has a Separation from Service which meets the terms of Section 3.5 but              fails to comply with any Restrictive Covenant without the prior written consent of              the Plan Administrator;        (b)   He or she has a Separation from Service on a voluntary basis (other than for Good              Reason on or prior to the first anniversary of a Change in Control, each as defined              in the EIP) and is not Retirement Eligible; or        (c)   He or she has a Separation from Service by the Employer and such Separation              from Service is classified as being for gross misconduct as determined by the              Employer in its sole discretion (even if the Participant is Retirement Eligible at              the time of such Separation from Service for gross misconduct).  3.7   Special Rules.        (a)   Payments on account of Disability.  If the Participant is determined to be              Disabled, the Award shall become vested in full and the balance of a Participant’s              Award, if any, shall be distributed in a single lump sum cash payment to the              Participant or the Participant’s Beneficiary or Beneficiaries as soon as practical              following the date on which the Participant becomes Disabled but in no event              later than 30 days following such date.        (b)   Payment upon death.  Following a Participant’s death, the Award shall become              vested in full and the balance of a Participant’s Award, if any, shall be distributed              in a single lump sum cash payment to the Participant’s Beneficiary or              Beneficiaries as soon as practical following the date of the Participant’s death but              in no event later than 30 days following such date.        (c)   Payment upon a change in control of State Street Corporation.  If, on or prior to              the first anniversary of the consummation of the Change in Control (as defined in              the EIP), the Participant’s employment with the Company is terminated for Good              Reason (as defined in the EIP) by the Participant or is terminated without Cause              (as defined in the EIP) by the Company, any Award awarded on or after February              20, 2014 shall become fully vested on the date of such termination and the              balance of the Award, if any, shall be distributed in a single lump sum payment to              the Participant as soon as practical following the date of such termination but in              no event later than 30 days following such date.  For purposes of this Section              3.7(c), termination of employment shall mean a “separation from service” as              determined in accordance with Treasury Regulation Section 1.409A-1(h).  3.8   Rehire.  No Award that was forfeited shall be reinstated in the event a Participant who        has a Separation from Service is subsequently rehired.   3.9   Certain Tax Matters.  All payments under the Plan shall be subject to reduction for        applicable tax and other legally or contractually required withholdings.  The distribution                                         5    

 

         of any vested portion of an Award subject to Section 409A of the Code will not be        accelerated or deferred unless specifically permitted or required under Section 409A of        the Code. Solely to the extent that a distribution in connection with an Award subject to        Section 409A of the Code would be paid pursuant to the terms of this Plan or any Award        on account of the Participant’s “Separation from Service” as defined under Section 409A        of the Code and the Participant is a “specified employee” as defined under Section 409A,        any distribution that otherwise would be paid during the six-month period following such        separation from service shall be delayed until the date that is six months and one day after        such “Separation from Service.” Any remaining distributions that otherwise would be        paid after such six-month period shall be paid at the time set forth in this Plan or any        Award.  It is intended that each installment of the payments provided under the Plan is a        separate “payment” for purposes of Section 409A. In any event, State Street Corporation        makes no representations or warranty and will have no liability to any Participant or any        other person if any provisions of or payments under this Plan are determined to constitute        deferred compensation subject to Section 409A but not to satisfy the conditions of that        section.   3.10  Distribution of Taxable Amounts.  Notwithstanding the foregoing, if any portion of a        Participant’s Award is determined by the Plan Administrator to be includible, by reason        of Section 409A of the Code, in a Participant’s or Beneficiary’s income, such portion        shall be paid by the Employer (or by the Employers, on an allocated basis determined by        the Plan Administrator) to such Participant or Beneficiary.                                       ARTICLE IV                               Administration of Plan    4.1   Plan Administrator.  Except with respect to any authority the Committee retains for itself        to act as Plan Administrator with respect to some or all of the Participants and/or some or        all of the provisions of the Plan and except as the Committee may otherwise determine,        the Plan Administrator shall be either or both of (i) the Executive Vice President-Chief        Human Resources and Citizenship Officer as from time to time in office, and his or her        delegates, and (ii) the Senior Vice President-Head of Global Total Rewards.  The Plan        Administrator shall have complete discretionary authority to interpret the Plan and to        decide all matters under the Plan, including decisions regarding any claim for benefits        under the Plan.  Such interpretation and decision shall be final, conclusive and binding on        all Participants and any person claiming under or through any Participant, in the absence        of clear and convincing evidence that the Plan Administrator acted arbitrarily and        capriciously.  However, no individual acting, directly or by delegation, as the Plan        Administrator may determine his or her own rights or entitlements under the Plan.  The        Plan Administrator shall establish such rules and procedures, maintain such records and        prepare such reports as it considers necessary or appropriate to carry out the purposes of        the Plan.  The Plan Administrator may delegate to such employees or other persons as it        determines such of its duties or responsibilities as it deems appropriate.                                            6    

 

   4.2   Outside Services.  The Plan Administrator may engage counsel and such clerical,        financial, investment, accounting, and other specialized services as the Plan        Administrator may deem necessary or appropriate in the administration of the Plan.  The        Plan Administrator shall be entitled to rely upon any opinions, reports, or other advice        furnished by counsel or other specialists engaged for that purpose and, in so relying, shall        be fully protected in any action, determination, or omission made in good faith.   4.3   Indemnification.  To the extent permitted by law and not prohibited by its charter and by-       laws, State Street Corporation will indemnify and hold harmless every person serving        (directly or by delegation) as Plan Administrator and the estate of such an individual if he        or she is deceased from and against all claims, loss, damages, liability and reasonable        costs and expenses incurred in carrying out his or her responsibilities as Plan        Administrator, unless due to the gross negligence, bad faith or willful misconduct of such        individual; provided, that counsel fees and amounts paid in settlement must be approved        by State Street Corporation; and further provided, that this Section 4.3 will not apply to        any claims, loss, damages, liability or costs and expenses which are covered by a liability        insurance policy maintained by State Street Corporation or by the individual.  The        provisions of the preceding sentence shall not apply to any corporate trustee, insurance        company, investment manager or outside service provider (or to any employee of any of        the foregoing) unless the Company otherwise specifies in writing.                                    ARTICLE V                      Amendment, Modification and Termination    5.1   Amendment; Termination.  By action of the Committee or its delegate, the Company        reserves the absolute right at any time and from time to time to amend the Plan or any        outstanding Award for any purpose which may at the time be permitted by law, and may        at any time terminate the Plan; provided that any distributions upon a termination and        liquidation of the Plan shall be done in accordance with the requirements of Treas. Regs.        § 1.409A-3(j)(4)(ix); provided, further, that except as otherwise expressly provided in the        Plan, the Committee may not, without the Participant’s consent, alter the terms of an        outstanding Award so as to affect materially and adversely the Participant’s rights under        the Award, unless the Committee expressly reserved the right to do so at the time of the        Award.  In addition, subject to the other provisions of this Section 5.1, the Plan        Administrator shall have the authority at any time and from time to time to make        amendments to the Plan or outstanding Awards (in general or with respect to one or more        individual Participants or Beneficiaries) that do not materially increase the financial        obligations of the Company.                                    ARTICLE VI                              Miscellaneous Provisions    6.1   Source of Payments.  All payments hereunder to Participants and their Beneficiaries shall        be paid from the general assets of the Company, including for this purpose, if the        Company in its sole discretion so determines, assets of one or more trusts established to        assist in the payment of benefits hereunder.  Any trust established pursuant to the        preceding sentence shall provide that trust assets remain subject to the Company’s                                         7    

 

         general creditors in the event of insolvency or bankruptcy and shall otherwise contain        such terms as are necessary to ensure that they do not constitute a “funding” of the Plan        for purposes of the Code.   6.2   No Warranties; No Liability.  Neither the Plan Administrator nor any Employer warrants        or represents in any way that the value of a Participant’s Award will increase or not        decrease.  No individual acting as a director, officer, employee or agent of the Company        will be liable to a Participant, Beneficiary or any other person for any action, including        any Award forfeiture or discretionary action taken pursuant to this Plan, an Award        Agreement or any related implementing policy or procedure of the Company.   6.3   Inalienability of Benefits.  Except as required by law, no benefit under, or interest in, the        Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment,        pledge, encumbrance, or charge, and any attempt to do so shall be void.   6.4   Reclassification of Employment Status.  Notwithstanding anything herein to the contrary,        an individual who is not characterized or treated as a common law employee by an        Employer shall not be eligible to participate in the Plan notwithstanding any        determination of employee status by the Internal Revenue Service, a court of competent        jurisdiction or otherwise.   6.5   Application of Local Law.  Participation in the Plan and the issuance and payment of any        Award under the Plan shall be subject to any special terms and conditions for the        Participant’s country of residence (and country of employment, if different), as may be        set forth in an addendum to an Award Agreement or otherwise in writing.  The Plan        Administrator reserves the right to impose other requirements on participation in the        Plan, to the extent the Plan Administrator, in its sole discretion, determines that such        other requirements are necessary or advisable in order to comply with local law.  To the        extent a court or tribunal of competent jurisdiction determines that any provision of the        Plan is invalid or unenforceable, in whole or in part, the Plan Administrator, in its sole        discretion, shall have the power and authority to revise or strike such provision to the        extent necessary to make it and the other provisions of the Plan valid and enforceable to        the full extent permitted under local law.  In the case of a Participant who is a local        national of and employed in a country that is a member of the European Union, the grant        of the Award and the terms and conditions governing the Award are intended to comply        with the age discrimination provisions of the EU Equal Treatment Framework Directive,        as implemented into local law (the “Age Discrimination Rules”).  To the extent a court or        tribunal of competent jurisdiction determines that any provision of the Award is invalid        or unenforceable, in whole or in part, under the Age Discrimination Rules, the Company,        in its sole discretion, shall have the power and authority to revise or strike such provision        to the minimum extent necessary to make the provision and the Award valid and        enforceable to the full extent permitted under local law.   6.6   Expenses.  The Employer shall pay all costs and expenses incurred in operating and        administering the Plan.                                          8    

 

   6.7   No Right of Employment.  Nothing contained herein, or any action taken under the        provisions hereof, shall be construed as giving any Participant the right to be retained in        the employ of an Employer.   6.8   Headings.  The headings of the sections in the Plan are placed herein for convenience of        reference, and, in the case of any conflict, the text of the Plan, rather than such heading,        shall control.   6.9   Construction.  The Plan shall be construed, regulated, and administered in accordance        with the laws of the Commonwealth of Massachusetts and applicable federal laws.                IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly  authorized officer on the 20th day of February, 2014.                                                    STATE STREET CORPORATION                                                        By:  /s/ Alison Quirk                        .                                                                               Executive Vice President – Chief                                                     Human Resources and                                                     Citizenship Officer                                              9    

 

                                FIRST AMENDMENT                      TO THE STATE STREET CORPORATION                    SUPPLEMENTAL CASH INCENTIVE PLAN                             (Effective January 1, 2014)          Pursuant to Section 5.1 of the State Street Corporation Supplemental Cash Incentive Plan  (the “Plan”), State Street Corporation, acting through the undersigned, its authorized delegate,  hereby amends the Plan as follows, effective January 1, 2018:    Subparagraph (r) “Restrictive Covenant” of Section 1.3 Definitions is replaced in its entirety  with the following:          “Restrictive Covenant” means any confidentiality, assignment and disclosure, non-       solicitation, non-competition, non-disparagement, post-employment cooperation or notice        provision that the Participant agrees to or has agreed to with the Employer, including but        not limited to the restrictions contained in the Award Agreement, any employment        agreement or offer letter, equity award agreement, change in control employment        agreement or required as a condition to entitlement to payment under any executive        supplemental retirement plan.   Section 6.3 of the Plan, Inalienability of Benefits, is replaced in its entirety with the following:    “Transferability of Awards.  No benefit under, or interest in, the Plan shall be sold, assigned,  transferred, pledged or otherwise encumbered by a Participant, either voluntarily or by operation  of law, except by will or the laws of descent and distribution or pursuant to a court issued  domestic relations order; provided, however, that, except with respect to a benefit or interest  subject to Section 409A, the Committee may permit or provide in an Award for the gratuitous  transfer of the Award by the Participant to or for the benefit of any immediate family member,  family trust or other entity established for the benefit of the Participant and/or an immediate  family member thereof; provided further, that the Company shall not be required to recognize  any such permitted transfer until such time as such permitted transferee shall, as a condition to  such transfer, deliver to the Company a written instrument in form and substance satisfactory to  the Company confirming that such transferee shall be bound by all of the terms and conditions of  the Award.  References to a Participant, to the extent relevant in the context, shall include  references to authorized transferees.  For the avoidance of doubt, nothing contained in this  Section 6.3 shall be deemed to restrict a transfer to the Company.”          IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its  duly authorized officer this 6th day of February, 2018.                                        STATE STREET CORPORATION                                                                            By: _/s/ Kathryn M. Horgan_________                                                                            Title: _EVP, Chief Human Resources and                                      Citizenship Officer______      

 

                              SECOND AMENDMENT                      TO THE STATE STREET CORPORATION                    SUPPLEMENTAL CASH INCENTIVE PLAN                           (Plan Effective January 1, 2014)          Pursuant to Section 5.1 of the State Street Corporation Supplemental Cash Incentive Plan  (the “Plan”), State Street Corporation, acting through the undersigned, its authorized delegate,  hereby amends the Plan as follows, effective January 1, 2019:    Subparagraph (i) “Eligible Employee” of Section 1.3 Definitions is clarified by replacing it in its  entirety as follows:          “Eligible Employee” means (i) any employee of an Employer (including an officer or        director who is also an employee) and (ii) any individual (a) who is no longer an        employee of an Employer due to retirement or otherwise, (b) who the Plan Administrator        determines, in its discretion, is eligible to receive a cash bonus or other compensation        earned while in the employment of an Employer, and (c) whose cash bonus or other        compensation the Plan Administrator determines, in its discretion, be paid, in whole or in        part, in the form of an Award under this Plan.           IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its  duly authorized officer this 19th day of February, 2019.                                                 STATE STREET CORPORATION                                                                            By: _/s/ Kathryn M. Horgan_________                                                                            Title: _EVP, Chief Human Resources and                                      Citizenship Officer______      

 

                           STATE STREET CORPORATION                      SUPPLEMENTAL CASH INCENTIVE PLAN                                                                [____] Deferred Value Award Agreement    Subject  to  your  acceptance  of  the  terms  set  forth  in  this  agreement and  the  addendum  attached  to  it (“Agreement”), your  Employer has  awarded  you,  under  the  State  Street  Corporation Supplemental Cash Plan (“Plan”), and pursuant to this Agreement and the terms  set  forth  herein,  a  contingent  right  to  receive cash  payments (“Award”) as  set  forth  in  the  statement pertaining to this Award (“Statement”) on the website (“Website”) maintained by  Fidelity Stock  Plan  Services  LLC,  an  independent  service  provider  based  in  the  United  States, or another party designated by the Company (“Award Administrator”).      The  Plan  has  been  established  for  the  purpose  of  rewarding,  retaining  and  motivating  employees for services and performance during the period from the grant of the Award to the  date of the vesting of the Award.  In addition to this Award, you may have received a cash  bonus under State Street Corporation’s (“Company”) annual incentive plan applicable to you  for the [prior year] performance year that was paid or is payable in immediate cash in the first  quarter of [current year] (“Immediate Cash Payment”). As set forth below, certain terms and  conditions of this Agreement apply to both this Award and your Immediate Cash Payment, if  any.     You may consider this Agreement for up to thirty (30) days from the date it was first made  available to you on the Website.    The terms of your Award are as follows:      1.    Grant of Award.      To  be  entitled  to  any  payment  under  this Award,  you  must  accept  your  Award  and  in  so  doing agree to comply with the terms and conditions of this Agreement and the applicable  provisions  of  the Countries  Addendum  outlined  in  Appendix  A  (which  is  incorporated  into,  and  forms  a  material  and  integral  part  of,  this  Agreement).   Failure  to  accept  this Award  within thirty (30) days following the posting of this Agreement on the Website will result in  forfeiture of this Award.  Copies of the Plan are located on the Website for your reference.   Your acceptance of this Award constitutes your acknowledgement that you have read and  understood this Agreement, the Plan, and any associated materials.  The provisions of the  Plan are incorporated herein by reference, and all terms used herein shall have the meaning  given to them in the Plan, except as otherwise expressly provided herein.  In the event of  any  conflict  between  the  provisions  of  this  Agreement  and  the  provisions  of  the  Plan,  the  provisions  of  the  Plan  shall  control.   As  used  herein,  “State  Street”  means  State  Street  Corporation  and  each  Subsidiary.  “Subsidiary”  means  State  Street  Corporation’s  consolidated subsidiaries.     By accepting this Award, you acknowledge and agree that the Award has been granted by  the Company, and that any claim you may undertake to raise in the future with respect to this  Award may only be raised against the Company in a court of competent jurisdiction in the  Commonwealth of Massachusetts, regardless of where or whether you are employed by the  Company or a Subsidiary.                                                                                  1                                             

 

     This Award  and  Immediate  Cash  Payment  are  subject  to any forfeiture, compensation  recovery or similar requirements set forth in this Agreement, as well as any other forfeiture,  compensation  recovery  or  similar  requirements  under  applicable  law  and  related  implementing  regulations  and  guidance,  and  to  other  forfeiture,  compensation  recovery  or  similar  requirements  under  plans,  policies  and  practices  of the  Company  or  its  relevant  Subsidiaries in effect from time to time, including those set forth in your offer letter. In the  event pursuant to this Agreement or pursuant to any applicable law or related implementing  regulations  or  guidance,  or  pursuant  to  any Company  or  its  relevant  Subsidiaries plan,  policies or practices, the Committee or State Street is required or permitted to reduce, forfeit  or cancel any amount remaining to be paid, or to recover any amount previously paid, with  respect  to  this  Award  or  the  Immediate  Cash  Payment,  or  to  otherwise  impose  or  apply  restrictions on this Award, it shall, in its sole discretion, be authorized to do so. By accepting  this Award, you consent to making payment to your Employer in the event of a compensation  recovery determination by the Committee or State Street.    2.    General Circumstances of Forfeiture.      Any amount remaining to be paid in respect of this Award will be forfeited, if:       a. You fail to comply with the terms of the applicable Countries Addendum attached      to this Award or the terms of any other Restrictive Covenant you agree to or have      agreed to with the Company or a Subsidiary;         b. You terminate employment with the Company and its Subsidiaries on a voluntary      basis and are not [Retirement Eligible or] Disabled [(for avoidance of doubt, the      Plan’s  “Retirement  Eligible”  exception  to  forfeiture  upon  termination  of      employment does not apply to this Award)]; or     c. Your employment with the Company and its Subsidiaries is terminated for gross      misconduct as determined by the Company or the relevant Subsidiary, in its sole      discretion,  or  the  Company or  the  relevant  Subsidiary,  in  its  sole  discretion,      determines  that  circumstances  prior  to  the  date  on  which  you  ceased to  be      employed  by with the  Company and  its  subsidiaries for  any  reason  constituted      grounds for termination for gross misconduct.           This Section 2 applies in addition to, and not to the exclusion of, any other holding,   forfeiture and/or clawback provisions contained in this Agreement.       3.    Material Risk Taker Malus-Based Forfeiture.      In the event you hold a title of Senior Vice President or higher during the calendar year in  which  this  Award  is  made,  or you  hold  the  status  of  “material  risk  taker”  at  the  time  this  Award is made or any time thereafter, you acknowledge and agree that this Award is subject  to the provisions of this Section 3.  In respect of any amount remaining to be paid in respect  of  this Award  may,  in  the  sole  discretion  of  the  Committee,  be  reduced,  forfeited or  cancelled, in the event that it is determined by the Committee, in its sole discretion, that your                                                                                 2                                             

 

   actions,  whether  discovered  during  or  after  your employment  with  the  Employer,  exposed  The Business to any inappropriate risk or risks (including where you failed to timely identify,  analyze,  assess  or  raise  concerns  about  such  risk  or  risks,  including  in  a  supervisory  capacity, where it was reasonable to expect you to do so), and such exposure has resulted  or could reasonably be expected to result in a material loss or losses that are or would be  substantial  in  relation  to  the  revenues,  capital  and  overall  risk  tolerance  of The  Business.   “The Business” shall mean State Street, or, to the extent you devote substantially all of your  business time to a particular business unit (e.g., Global Services Americas, Global Services  International,  State  Street  Global  Exchange  or  State  Street  Sector  Solutions)  or  business  division (e.g., Alternative Investment Solutions, Securities Lending), “Business” shall refer to  such  business  unit  or  business line.   This  provision  applies  in  addition  to,  and  not  to  the  exclusion  of,  any  other  holding,  forfeiture  and/or  clawback  provisions  contained  in  this  Agreement.     4.    Identified Staff Malus-Based Forfeiture and Clawback.     a. In the event the Company or any Subsidiary notifies you at any time before or      after  this  Award  is  made  that  you  have  been  designated  Identified  Staff  for      purposes of the PRA Remuneration Code, you acknowledge and agree that both      this Award and the Immediate Cash Payment are subject to the provisions of this      Section 4 for a period of seven (7) years from the date this Award is granted. The      seven  (7)-year  period  may  be  extended  to  ten  (10)  years in  certain      circumstances where        (i)    the  Company  has  commenced  an  investigation  into  facts  or  events      which it considers could potentially lead to the application of a clawback under      this Section 4 were it not for the expiration of the seven (7)-year period; or        (ii)   the  Company  has  been  notified  by  a  regulatory  authority  that  an      investigation has commenced into facts or events which the Company considers      could potentially lead to the application of clawback by the Company under this      Section 4 were it not for the expiration of the seven (7)-year period.     b. If the Company determines that a PRA Forfeiture Event has occurred it may elect      to  reduce,  forfeit or  cancel  all  or  part  of  any  amount  remaining  to  be  paid  in      respect of this Award (“PRA Malus-Based Forfeiture”).         c. If  the  Company  determines  that  a  PRA  Clawback  Event  has  occurred  it  may      require the repayment by  you (or otherwise seek to recover from you) of all or      part of the cash delivered to you in respect of this Award or the Immediate Cash      Payment.     d. The  Company  may  produce  guidelines  from  time  to  time  in  respect  of  its      operation of the provisions of this Section 4. The Company intends to apply such      guidelines  in  deciding  whether  and  when  to  effect  any  reduction, forfeiture,      cancellation or recovery of compensation but, in the event of any inconsistency      between the provisions of this Section 4 and any such guidelines, this Section 4      shall  prevail.  Such  guidelines  do  not  form  part  of  any  employee’s  contract  of                                                                                  3                                             

 

       employment, and the Company may amend such guidelines and their application      at any time.     e. By accepting this Award on the Website, you expressly and explicitly:             i. consent  to  making  the  required  payment  to  the  Company  (or  to  your         Employer on behalf of the Company) upon a PRA Clawback Event and              ii. authorize  the  Company to  issue  related  instructions,  on  your  behalf,  to  the         Award Administrator and any brokerage firm and/or third party administrator         engaged by the Company to administer the Award to re-convey, transfer or         otherwise return to the Company any amount paid under the Award.     f. For the purposes of this Section 4:         i. A “PRA Forfeiture Event” means a determination by the Company, in its sole         discretion,  that  (A)  there  is  reasonable  evidence  of your misbehavior  or         material  error;  or  (B) the  Company,  one  of  its Subsidiaries  or  a  relevant         business unit has suffered a material downturn in its financial performance; or         (C) the  Company,  one  of  its Subsidiaries  or  a  relevant  business  unit  has         suffered a material failure of risk management;                ii.  A “PRA Clawback Event” means a determination by the Company, in its sole         discretion, that either (A) there is reasonable evidence of your misbehavior or         material  error  or  (B) the  Company,  one  of  its Subsidiaries  or  a  relevant         business unit has suffered a material failure of risk management.     g. This  Section  4  applies  in  addition  to,  and  not  to  the  exclusion  of,  any  other      holding, forfeiture and/or clawback provisions contained in this Agreement.       5. SSB Intl GmbH and SSGA GmbH Affordability Limitations, Malus-Based Forfeiture     and Clawback.         a. Awards  issued to SSB  Intl  GmbH  or  State  Street  Global  Advisors  GmbH  staff  may  be       impacted by the financial situation of the bank and/or regulatory group, as prescribed by       regulatory  requirements  in  its  applicable  version (e.g.  the  Remuneration  Ordinance  for       Institutions  and/or  German  Banking  Act).  Awards  may  also  be  limited  to  the  extent       ordered by the competent supervisory authority according to sec. 45 para. 2 sentence 1       no.  5a,  6  German  Banking  Act.  Further,  entitlement to  an  Award  may  lapse  if  the       competent supervisory authority issues a corresponding definitive order according to sec.       45 para. 5 sentence 5 to 8 German Banking Act.            b. In the event the Company or any Subsidiary notifies you at any time before or after this       Award  is  made  that  you  have  been  designated  SSB  Intl  GmbH  Identified  Staff  for       purposes of the German Remuneration Ordinance, you acknowledge and agree that this                                                                                 4                                             

 

        Award  is  subject  to  forfeiture  and  clawback  for  a  period  from  the  date  the  Award  is       granted  until  two  (2)  years  from  the  date  that  the  final  tranche  of  this  Award  vests.  A       clawback applies if you, as SSB Intl GmbH Identified Staff,                 (i) contributed  significantly  to,  or  was  responsible  for,  conduct  that  resulted  in             significant losses or regulatory sanctions for SSB Intl GmbH, or                    (ii)  is  responsible  for  a  serious  breach  of  relevant  external  or  internal  rules  on  good                 conduct (“SSB Intl GmbH Identified Staff Clawback Event”).              c. Section 5 applies in addition to, and not to the exclusion of, any other holding, forfeiture       and/or clawback provisions contained in this Agreement.    6.    Management Committee/Executive Vice President Forfeiture and Clawback.       a. If,  at  the  time  the  Award  is  made,  you  are  a  member  of  the  State  Street      Corporation  Management  Committee  or  any  successor  committee  or  body      (“Management  Committee”  or  “MC”)  or  hold  the  title  Executive  Vice  President      (“EVP”) or higher, any amount remaining to be paid in respect of this Award may,      in  the  sole  discretion  of  the  Committee,  be  reduced,  forfeited or  cancelled,  in      whole or in part, in the event that it is determined by the Committee, in its sole      discretion, that:               i. you  engaged  in  fraud,  gross  negligence  or  any  misconduct,  including  in  a         supervisory  capacity, that  was materially  detrimental  to  the  interests  or         business reputation of State Street or any of its businesses; or            ii. you  engaged  in  conduct  that  constituted  a  violation  of  State  Street  policies         and procedures or State Street Standard of Conduct in a manner which either         caused  or  could  have  caused  reputational  harm  that  is  material  to  State         Street  or  placed  or  could  have  placed  State  Street  at  material  legal  or         financial risk; or         iii. as a result of a material financial restatement by State Street contained in a         filing  with  the U.S. Securities  and  Exchange  Commission (“SEC”),  or         miscalculation  or  inaccuracy  in  the  determination  of  performance  metrics,         financial  results  or  other  criteria  used  in  determining  the  amount  of  this         Award, you would have received a smaller or no Award hereunder.     b. If,  at  the  time  the  Award  is  made,  you  are  a  member  of  the  Management      Committee or hold the title EVP or higher, this Award and the Immediate Cash      Payment also are subject to compensation recovery as provided herein.  Upon      the occurrence of an MC/EVP Clawback Event within three (3) years (within one      (1) year for an EVP) after the date of grant of this Award, the Committee may, in      its sole discretion, determine to recover the MC/EVP Clawback Amount, in whole      or in part.  Following such a determination, you agree to immediately repay such      compensation in cash no later than sixty (60) days following such determination.                                                                                 5                                             

 

                   To  the  extent  not  prohibited  by  applicable  law  and  subject  to  compliance  with     Section  409A  of  the  Code,  if  you  fail  to  comply  with  any  requirement  to  repay     compensation  under  this  Section 6,  the  Committee  may  determine,  in  its  sole     discretion, in addition to any other remedies available to the Company, that you     will  satisfy  your  repayment  obligation  through  an  offset to  any future  payments     owed by the Company or any of its Subsidiaries to you.        c. For purposes of this Section 6:          i. “MC/EVP Clawback Event” means a determination by the Committee, in its        sole discretion, (A) with respect to any event or series of related events that        you  engaged  in  fraud  or  willful  misconduct,  including  in  a  supervisory        capacity, that  resulted  in  financial  or  reputational  harm  that  is  material  to        State  Street  and  resulted  in  the  termination  of  your  employment  by  the        Company and its Subsidiaries (or, following a cessation of your employment        for any other reason, such circumstances constituting grounds for termination        are  determined  applicable)  or  (B)  a  material  financial  restatement or        miscalculation  or  inaccuracy  in  financial  results,  performance metrics,  or        other criteria used in determining this Award by State Street occurred.  For        the  avoidance  of  doubt  and  as  applicable,  an  MC/EVP Clawback  Event        includes any determination by the Committee that is based on circumstances        prior to the date on which you cease to be employed by the Company and its        Subsidiaries for  any  reason,  even  if  the  determination  by  the  Committee        occurs after such cessation of employment.          ii. “MC/EVP Clawback  Amount”  means  (A)  with  respect  to  an  MC/EVP        Clawback Event described in Section 6(c)(i)(A), the amount of the Immediate        Cash  Payment  plus  the  amount  of  the  cash  payments,  if  any,  that  were        delivered to you under this Award by the Company during the period of three        (3)  years (one  (1)  year  for  an  EVP) immediately  prior  to  such  MC/EVP        Clawback Event or (B) with respect to an MC/EVP Clawback Event described        in  Section 6(c)(i)(B),  the  amount  of  the  Immediate  Cash  Payment  plus  the        amount of the cash payments, if any, that were delivered to you under this        Award by the Company (x) during the period of three (3) years (one (1) year        for  an  EVP)  immediately  prior  to an  associated date designated  by  the        Committee and (y) that represents an amount that, in the sole discretion of        the  Committee,  exceeds  the  amount  you  would  have  been  awarded as  the        Immediate Cash Payment and under this Award had the financial statements        or  other  applicable  records of  State  Street  been  accurate  (reduced,  in  the        case  of  both  of  the  immediately  preceding  clauses  (A)  and  (B), taking  into        account any portion of the Immediate Cash Payment and this Award that was        previously  recovered  by  the  Company  under this Section 6(b)  to  avoid  a        greater than 100% recovery).       d. In  connection  with  any  MC/EVP  Clawback  Event,  you  hereby  expressly  and     explicitly  authorize  the  Company  to issue  instructions,  on  your  behalf,  to  the     Award  Administrator  and  any  brokerage  firm  and/or  third  party  administrator                                                                               6                                                         

 

       engaged  by  the  Company  to  administer  the  Award,  to  re-convey,  transfer  or      otherwise return such Award proceeds and/or other amounts to the Company.         e. This  Section  6  applies  in  addition  to,  and  not  to  the  exclusion  of,  any  other      holding, forfeiture and/or clawback provisions contained in this Agreement.       7.    Payment and Tax Withholding.    Payment  will  be  made  as  soon  as  feasible  on  or  after  the vesting  date,  and  in  any  event  within  thirty  (30)  days  following  the  vesting  date.   Federal,  state  and  local  taxes  will  be  withheld as required by law and the net remaining value will be delivered as USD cash into  the default cash fund in your individual Award Administrator account.  The default cash fund  in your individual Award Administrator account pays interest at prevailing rates and can be  sold at any time.    8.    Employee Rights.    Nothing in this Award shall be construed to guarantee you any right of employment with the  Company,  your  Employer  or  any  Subsidiary  or  to  limit  the  discretion  of  any  of  them  to  terminate  your  employment  at  any  time,  with  or  without  cause  to  the  maximum  extent  permitted under local law.      In consideration of the grant of the Award, you acknowledge and agree that you will have no  entitlement to compensation or damages in consequence of the termination of your Employment  (for any reason whatsoever and whether or not in breach of contract or local labor laws), insofar  as such entitlement arises or may arise from your ceasing to have rights under or to be entitled  to the Award as a result of such termination, or from the loss or diminution in value of the  Award. By accepting this Award, you shall be deemed irrevocably to have waived any such  claim or entitlement against the Company, your Employer and all Subsidiaries that may arise; if,  notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to  have arisen, then, by accepting this Agreement, you shall be deemed irrevocably to have  waived your entitlement to pursue such claim. In the event your Employment ends and you are  subsequently rehired by the Company or any Subsidiary, no Award previously forfeited or  recovered will be reinstated.    9.    Non-Transferability, Etc.      This  Award  shall  not  be  transferable  other  than  (1)  by  will  or  the  laws  of  descent  and  distribution or (2) pursuant to the terms of a court-approved domestic relations order, official  marital settlement agreement or other divorce or settlement instrument satisfactory to State  Street, in its sole discretion.  In the case of transfer pursuant to (2) above, this Award shall  remain  subject  to  all  the  terms  and  conditions  contained  in  the  Plan  and  this  Agreement,  including vesting, forfeiture and clawback terms and conditions.  Any attempt by you (or in  the  case  of  your  death,  by  your  Designated  Beneficiary)  to  assign  or  transfer  this  Award,  either  voluntarily  or  involuntarily,  contrary  to  the  provisions  hereof,  shall  be  null,  void  and  without effect and shall render this Award itself null and void.                                                                                     7                                             

 

   10.   Compliance with Section 409A of the Code.       a. The provisions of this Award are intended to be exempt from, or compliant with,      Section  409A  of the  Code,  and  shall  be  construed and  interpreted consistently      therewith.   Notwithstanding  the  foregoing,  neither  the  Company  nor  any      Subsidiary shall have any liability to you or to any other person if this Award is      not so exempt or compliant.   b. If and to the extent       i.  any portion of any payment, compensation or other benefit provided to you         pursuant  to  the  Plan  in  connection  with  your employment termination         constitutes  “nonqualified  deferred  compensation”  within  the  meaning  of         Section 409A of the Code, and       ii. you  are  a  specified  employee  as  defined  in  Section  409A(a)(2)(B)(i)  of  the         Code,  in  each  case  as  determined  by  the  Company  in  accordance  with  its         procedures,  by  which  determinations  you  (through  accepting  this  Award)         agree  that you  are  bound,  such  portion  of  the  payment,  compensation  or         other benefit shall not be paid before the day that is six months plus one day         after the date of “separation from service” (as determined under Section 409A         of the Code) (the “New Payment Date”), except as Section 409A of the Code         may then permit.  The aggregate of any payments that otherwise would have         been  paid  to  you  during  the  period  between  the  date  of  separation  from         service and the New Payment Date shall be paid to you in a lump sum on         such New Payment Date, and any remaining payments will be paid on their         original deferral schedule.           11.   Miscellaneous.     a. Awards Discretionary.  By accepting this Award, you acknowledge and agree      that  the  Plan  is  discretionary  in  nature  and  limited  in  duration,  and  may  be      amended, forfeited, cancelled,  or  terminated  by  the Company,  in  its  sole      discretion, at any time. The grant of this Award is a one-time benefit and does not      create  any  contractual  or  other  right  to  receive  an  award,  compensation  or      benefits in lieu of an award in the future. Future awards, if any, will be at the sole      discretion of the Company, including, but not limited to, the form and timing of an      award,  the amount  of  cash subject  to  an  award,  and forfeiture,  clawback  and      vesting provisions.         b. Company and Committee Discretion. Sections 2 through 6 of this Agreement      are  intended  to  comply  with  and  meet  the  requirements  of  applicable  law  and      related  implementing  regulations  regarding  incentive  compensation  and  will  be      interpreted  and  administered  accordingly  as  well  as  in  accordance  with  any      implementing policies and practices of the Company or its relevant Subsidiaries      in effect from time to time.  In making determinations under such Sections, the      Company, the relevant Subsidiary or the Committee, as applicable, may take into      account,  in  its  sole  discretion,  all  factors  that  it  deems  appropriate  or  relevant.       Furthermore,  the  Company,  the  relevant  Subsidiary or  the  Committee  may,  as      applicable, take any and all actions it deems necessary or appropriate in its sole                                                                                 8                                             

 

                   discretion, as permitted by applicable law, to implement the intent of Sections 2     through 6, including suspension of vesting and payment pending an investigation     or the determination by the Company, the relevant Subsidiary or the Committee,     as  applicable.   Each  such  Section  is  without  prejudice  to  the  provisions  of  the     other Sections, and the Company, the relevant Subsidiary or the Committee, as     applicable,  may  elect  or  be  required  to  apply  any  or  all  of  the  provisions  of     Sections 2 through 6 to this Award and, where applicable, to the Immediate Cash     Payment.  Sections 2 through 6 of this Agreement shall cease to apply upon your     death at any time provided, however, if a PRA Clawback Event, SSB Intl GmbH     Identified  Staff  Clawback  Event or  an  MC/EVP  Clawback  Event  has  occurred     pursuant to Section 4, 5, or 6, respectively, at or prior to your death, any amount     that  the Committee has  made  a  determination  to  recover  under  either  such     Section shall continue to be payable to the Company.    c. Voluntary Participation. Your participation in the Plan is voluntary. The value of     this Award is an extraordinary item of compensation, is outside the scope of your     employment  contract,  if  any,  and  is  not  part  of  your  normal  or  expected     compensation  for  purposes  of  calculating  any  severance,  resignation,     redundancy, end of service payments, bonuses, long-service awards, pension or     retirement benefits or similar payments.                 d. Electronic  Delivery.  The  Company or  any  of  its  Subsidiaries may,  in  its  sole     discretion,  decide  to  deliver  any  documents  related  to  the  Award  by electronic     means.  You  hereby  consent  to  receive  such  documents  by  electronic  delivery     and  agree  to  participate  in  the  Plan  through  an  on-line  or  electronic  system,     including  the Website, established  and  maintained  by  the  Company, any  of  its     Subsidiaries, the Award Administrator  or  another  party  designated  by  the     Company.          e. Electronic Acceptance.  By accepting this Award electronically,             i. you  acknowledge  and  agree  that  you  are  bound  by  the  terms  of  this        Agreement and the Plan and that you and this Award are subject to all of the        rights,  power  and  discretion  of  the  Company,  its  Subsidiaries and  the        Committee set forth in this Agreement and the Plan; and             ii. this Award is deemed accepted by the Company and the Company shall be        deemed to be bound by the terms of this Agreement.                   f. Language.  You acknowledge and agree that it is your express intent that this       Agreement, the  Plan  and  all  other  documents, notices  and  legal  proceedings       entered into, given or instituted pursuant to this Award, be drawn up in English.        If you have received this Agreement, the Plan or any other documents related       to this Award translated into a language other than English, and if the meaning       of  the  translated  version  is  different  than  the  English  version,  the  English       version will prevail to the extent permitted under local law.  France: Une version                                                                                9                                                         

 

                     française  de  cet  Accord  peut  être  consultée  sur  l’intranet. Poland: Kopię  tej       Umowy w języku polskim może Pan/Pani otrzymać wchodząc na Stronę.       g. Additional  Requirements.  The  Company  reserves  the  right  to  impose  other     requirements on this Award, and your participation in the Plan, to the extent the     Company  determines,  in  its  sole  discretion,  that  such  other  requirements  are     necessary or advisable in order to comply with local laws, rules and regulations,     or to facilitate the operation and administration of this Award and the Plan.  Such     requirements  may  include  (but  are  not  limited  to)  requiring  you  to  sign  any     agreements or undertakings that may be necessary to accomplish the foregoing.      Further, a grant of an Award hereunder is subject to compliance by the Company     and you with all legal requirements applicable thereto, including compliance with     the requirements of 12 C.F.R. Part 359.       h. Public  Offering.  If  you  are  a  resident  and/or  employed  outside  the  United     States, the grant of this Award is not intended to be a public offering of securities     in  your  country  of  residence  (and  country  of employment,  if  different).   The     Company  has  not  submitted  any  registration  statement,  prospectus  or  other     filings with the local securities authorities (unless otherwise required under local     law),  and  the  grant  of  this  Award  is  not  subject  to  the  supervision  of  the  local     securities authorities.                 i. Limitation of Liability.  No individual acting as a director, officer, employee or     agent of the Company or any of its Subsidiaries will be liable to you or any other     person  for  any  action,  including  any Award forfeiture, Award recovery  or  other     discretionary  action  taken  pursuant  to  this  Agreement  or any  related     implementing policy or procedure of the Company.                 j. Exchange Rates.  Neither the Company, your Employer or any Subsidiary shall     be  liable  for  any  foreign  exchange  rate  fluctuation,  where  applicable,  between     your local currency and the United States dollar that may affect the value of an     Award or of any amounts due to you under this Agreement.                 k. Notional  Investments.  100%  of  the  Award  will  be  allocated  to  and  will  be     treated  as  though  notionally  invested  in  the  State  Street  Institutional  U.S.     Government Money Market Fund.  The earnings credited will vary based on the     actual performance of the money market; however, there is no ownership interest     in the Money Market Fund or any other actual investment.  Earnings, if any, will     generally  result  in the  credit  of  additional  notional  units  as  the  Money  Market     Fund  is  managed  to  a  $1.00  USD  unit  share  price. Past  performance  is  no     guarantee of future performance and the fund unit value can decline below $1.00     USD. The administration of earnings shall be subject to procedures approved by     the Plan Administrator.  The Plan Administer may at any time substitute a new     fund or other notional tracking option for the Money Market Fund, including with     respect to balances already notionally invested under the Plan. You acknowledge     and agree, on your behalf and on behalf of your Beneficiaries, that none of the     Company  or  its  agents  or  representatives  shall  be  liable  for  any  losses  or                                                                               10                                                         

 

       damages  of  any  kind,  including  notional  investment  losses,  relating  to  the      allocation  of  the  Award  to  the  Money  Market  Fund  or  any  other  notional      investment under the Plan.         l. Applicable Law.  This Agreement shall be subject to and governed by the laws      of  the  Commonwealth  of  Massachusetts, United  States  of  America without      regard to that Commonwealth’s conflicts of law principles.    12.   Application of Local Law and Countries Addendum.     a. Notwithstanding Section 11(l), this Award shall be subject to all applicable laws,      rules and regulations of your country of residence (and country of employment, if      different) and any special terms and conditions for your country of residence (and      country of employment, if different), including as set forth in the addendum that      immediately  follows  this  Agreement  (“Countries  Addendum”),  but  limited  to  the      extent  required  by  local  law.   The  Company  reserves  the  right,  in  its  sole      discretion, to add to or amend the terms and conditions set out in the Countries      Addendum  as  necessary  or  advisable  in  order  to  comply  with  applicable  laws,      rules  and  regulations  or  to  facilitate  the  operation  and  administration  of  this      Award  and  the  Plan,  including  (but  not  limited  to)  circumstances  where  you      transfer residence and/or Employment to another country.           b. As a condition to this Award, you agree to repatriate all payments attributable to      the Award in  accordance  with  local  foreign  exchange  rules  and  regulations  in      your country of residence (and country of employment, if different).  In addition,      you also agree to take any and all actions, and consent to any and all  actions      taken  by  the  Company  and  its  Subsidiaries,  as  may  be  required  to  allow  the      Company and its Subsidiaries to comply with local laws, rules and regulations in      your country of residence (and country of employment, if different).  Finally, you      agree  to  take  any  and  all  actions  as  may  be  required  to  comply  with  your      personal legal, tax and other obligations under local laws, rules and regulations      in your country of residence (and country of employment, if different).    13.   Data Privacy.      The  Company  is  located  at  One  Lincoln  Street,  Boston,  Massachusetts,  U.S.A.  and grants  Awards under the Plan to employees of the Company and its Subsidiaries in its sole discretion.  You  should  carefully  review  the  following  information  about  the  Company’s data  privacy  practices in relation to your Award.     a. Data Collection, Processing and Usage. Pursuant to applicable data protection laws,        you are hereby notified that the Company and your Employer collect, process and use        certain personal data about you for the legitimate interest of implementing, administering        and managing the Plan and generally administering  Awards; specifically, including your        name, home address, email address and telephone number, date of birth, social security        number, social insurance number or other identification number, salary, citizenship, job        title, any shares of Common Stock or directorships held in the Company, and details of                                                                                  11                                             

 

         all Awards or  any  other incentive  compensation awards  granted,  canceled, forfeited,        exercised, vested, or outstanding in your favor, which the Company receives from you or        your  Employer.  In  granting  Awards under  the  Plan,  the  Company  will  collect  your        personal  data  for  purposes  of  allocating Awards and  implementing,  administering  and        managing  the  Plan.   The  Company’s  collection,  processing  and  use  of  your  personal        data is necessary for the performance of the Company’s contractual obligations under        the Plan and pursuant to the Company’s legitimate interest of managing and generally        administering  employee incentive compensation awards.  Your  refusal  to  provide        personal  data  would  make  it  impossible  for  the  Company  to  perform  its  contractual        obligations and may affect your ability to participate in the Plan. As such, by participating        in  the  Plan,  you  voluntarily  acknowledge  the  collection,  processing  and  use  of  your        personal data as described herein.           b. Award  Administrator.  The  Company  transfers  your  personal  data  to  the  Award        Administrator,  which  assists  the  Company  with  the  implementation,  administration  and        management  of  the  Plan.   In  the  future,  the  Company  may  select  a  different  Award        Administrator  and  share  your  personal  data  with  another  company  that  serves  in  a        similar  manner.   The  Award  Administrator  will  open  an  account  to  credit  your  Award,        including any amounts that ultimately vest under the Plan. You will be asked to agree on        separate  terms  and acknowledge data  processing  practices  with  the  Award        Administrator, which is a condition to your ability to participate in the Plan.                c. Data Retention. The Company will use your personal data only as long as is necessary        to  implement,  administer  and  manage  your  participation  in  the  Plan  or  as  required  to        comply with legal or regulatory obligations, including under tax and security laws. When        the Company no longer needs your personal data, the Company will remove it from its        systems.   If  the  Company  keeps  your  data  longer,  it  would  be  to  satisfy  legal  or        regulatory  obligations  and  the  Company’s  legal  basis  would  be  for  compliance  with        relevant laws or regulations.     For further information about the processing of your personal data, please see the GHR  Privacy Notice.                               **********************************                                    APPENDIX A                              COUNTRIES ADDENDUM                   TO [____] DEFERRED VALUE AWARD AGREEMENT                                                                   STATE STREET CORPORATION                      SUPPLEMENTAL CASH INCENTIVE PLAN                                                             A. United States                                                                                 12                                             

 

                     B. Australia                    C. Brazil                    D. Canada                    E. France                    F. Germany                    G. Hong Kong                    H. Ireland                    I. Luxembourg                    J. Netherlands                    K. Poland                    L. United Kingdom                                  A.    UNITED STATES  ____________________________________________________________________________                                           In consideration of your receipt of this Award, you expressly agree to comply with the terms and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited,  paid,  delivered or repaid, under this Award at any time, including the time you separate from service  with the Company and its Subsidiaries.  Failure to comply with the terms and conditions of this  Countries Addendum A may result in the sole determination of the Company in the forfeiture of  any or all of the amounts remaining to be paid under this Award.  In addition, your eligibility to participate in the Plan in the future, including any potential future  grants of awards under the Plan (or any successor incentive plan of the Company), is subject to  and conditioned on your compliance with the terms and conditions of this Countries Addendum  A.    This  Countries  Addendum  A  contains  a  covenant  not  to  compete  in  Paragraph  5 which shall  apply  to  you  at  any  time  that  you  hold  the  title  of  Executive  Vice  President  or  higher.   You  should review it carefully. You may consult with an attorney before accepting the Award. You  may consider whether you wish to accept the Award for up to 30 days from the date it was first  made available to you on the Website.  By accepting the Award, you acknowledge and agree  that it is fair and adequate consideration for the covenant not to compete and other promises  you make in this Countries Addendum.  All terms used herein shall have the meaning given to them in the Plan or this Award, except as  otherwise expressly provided herein.   1.    Confidentiality.          (a)   You acknowledge that you have access to Confidential Information which is not  generally known or made available to the general public and that such Confidential Information  is the property of the Company, its Subsidiaries or its or their licensors, suppliers or customers.   Subject to Paragraph 16, below, you agree specifically as follows, in each case whether during  your Employment or following the termination thereof:               (i)   You will always preserve as confidential all Confidential Information, and        will never use it for your own benefit or for the benefit of others; this includes that you will        not use the knowledge of activities or positions in clients’ securities portfolio accounts or        cash accounts for your own personal gain or for the gain of others.                                                                                 13                                             

 

               (ii)  You will not disclose, divulge, or communicate Confidential Information to        any unauthorized person, business or corporation during or after the termination of your        Employment with the Company and its Subsidiaries.  You will use your best efforts and        exercise  due  diligence  to  protect,  to  not  disclose  and  to  keep  as  confidential  all        Confidential Information.              (iii) You  will  not  initiate  or  facilitate  any  unauthorized  attempts  to  intercept        data in transmission or attempt entry into data systems or files.  You will not intentionally        affect  the  integrity  of  any  data  or  systems  of  the  Company  or  any  of  its  Subsidiaries        through the introduction of unauthorized code or data, or through unauthorized deletion        or addition.  You will abide by all applicable Corporate Information Security procedures.              (iv)  Upon the earlier of request or termination of Employment, you agree to        return to the Company or the relevant Subsidiaries, or if so directed by the Company or        the  relevant  Subsidiaries,  destroy  any  and  all  copies  of  materials  in  your  possession        containing Confidential Information.        (b)   The terms of this Countries Addendum A do not apply to any information which is  previously known to you without an obligation of confidence or without breach of this Countries  Addendum  A,  is  publicly  disclosed  (other than  by  a  violation  by  you  of  the  terms  of this  Countries Addendum A) either prior to or subsequent to your receipt of such information, or is  rightfully received by you from a third party without obligation of confidence and other than in  relation to your Employment with the Company or any of its Subsidiaries.  State  Street  recognizes  that  certain  disclosures  of  confidential  information  to  appropriate  government authorities or other designated persons are protected by “whistleblower” and other  laws.   Nothing  in this  Countries  Addendum  A is  intended  to  or  should  be  understood or  construed to  prohibit  or  otherwise  discourage  such  disclosures.   State  Street  will  not  tolerate  any discipline or other retaliation against employees who properly make such legally-protected  disclosures.   2.    Assignment and Disclosure.          (a)   You  acknowledge  that, by  reason  of  being  employed  by  your  Employer,  to  the  extent  permitted  by  law,  all  works,  deliverables,  products,  methodologies  and  other  work  product conceived, created and/or reduced to practice by you, individually or jointly with others,  during the period of your Employment by your Employer and relating to the Company or any of  its  Subsidiaries or  demonstrably  anticipated  business,  products,  activities,  research  or  development of the Company or any of its Subsidiaries or resulting from any work performed by  you  for the  Company  or  any  of  its  Subsidiaries,  including,  without  limitation, any  track record  with  which  you  may  be  associated  as  an  investment  manager  or  fund  manager  (collectively,  “Work Product”), that consists of copyrightable subject matter is "work made for hire" as defined  in the Copyright Act of 1976 (17 U.S.C. § 101), and such copyrights are therefore owned, upon  creation,  exclusively  by  State  Street.  To  the  extent  the  foregoing  does  not  apply  and  to  the  extent permitted by law, you hereby assign and agree to assign, for no additional consideration,  all  of  your  rights,  title  and  interest  in  any  Work  Product  and  any  intellectual  property  rights  therein to State Street.  You hereby waive in favor of State Street any and all artist’s or moral  rights (including without limitation, all rights of integrity and attribution) you may have pursuant  to any state, federal or foreign laws, rules or regulations in respect of any Work Product and all  similar rights thereto.  You will not pursue any ownership or other interest in such Work Product,  including, without limitation, any intellectual property rights.                                                                                   14                                             

 

         (b)   You  will  disclose  promptly  and  in  writing  to  the  Company  or  your  Employer  all  Work Product, whether or not patentable or copyrightable.  You agree to reasonably cooperate  with State Street               (i)   to transfer to State Street the Work Product and any intellectual property        rights therein,              (ii)  to obtain or perfect such rights,               (iii) to  execute  all  papers,  at  State  Street’s  expense,  that  State  Street  shall         deem necessary to apply for and obtain domestic and foreign patents, copyright and         other registrations, and               (iv)  to protect and enforce State Street’s interest in them.          (c)   These  obligations  shall  continue  beyond  the  period  of  your Employment with  respect  to  inventions  or  creations  conceived  or  made  by  you  during  the  period  of  your  Employment.   3.    Non-Solicitation.         (a)   This  Paragraph  3  shall  apply  to  you  at  any  time  that  you  hold  the  title  of  Vice  President or higher.        (b)   You agree that, during your Employment and for a period of six (6) months from  the  date  your Employment terminates  for  any  reason  you  will  not,  without  the  prior written  consent of the Company or your Employer:               (i)   solicit,  directly  or  indirectly  (other  than  through  a  general  solicitation  of        employment  not  specifically  directed  to  employees  of  the  Company  or  any  of  its        Subsidiaries), the employment of, hire or employ, recruit, or in any way assist another in        soliciting  or  recruiting  the  employment  of,  or  otherwise  induce  the  termination  of  the        employment of, any person who then or within the preceding twelve (12) months was an        officer  of  the  Company  or  any  of  its  Subsidiaries  (excluding  any  such  officer  whose        employment was involuntarily terminated); or               (ii)  engage  in  the  Solicitation  of  Business  from  any  Client  on  behalf  of  any        person or entity other than the Company or any of its Subsidiaries.        (c)   Paragraph 3(b)(i) above shall be deemed to exclude the words “hire or employ” if  your  work  location  is  in  California  or  New  York,  and  shall  be  construed  and  administered  accordingly.              (i)   For  purposes  of  this  Paragraph  3,  “officer”  shall  include  any  person        holding  a  position  title  of Assistant  Vice  President  or  SSGA  Principal  4  or  higher.         Notwithstanding  the  foregoing,  this  Paragraph  3  shall  be  inapplicable  following  a        Change in Control.   4.    Notice Period Upon Resignation.          (a)   This  Paragraph  4  shall  apply  to  you  at  any  time  that  you  hold  the  title  of  Managing Director or higher (or, any time that you hold the title of Vice President or higher in  State Street Global Markets (“SSGM”)).  If you are subject to an employment agreement that  requires a longer notice period, that employment agreement shall govern.        (b)   In order to permit the Company and its Subsidiaries to safeguard their business  interests  and  goodwill  in  the  event  of  your  resignation  from Employment for  any  reason,  you  agree to give your Employer advance notice of your resignation.  The duration of the advance                                                                                 15                                             

 

   notice you provide (the “Notice Period”) will be determined by your title at the time you deliver  such notice, as follows:              (i)   if  you  are  a  member  of  the  Management  Committee,  you  will  give  180        days’ advance notice;              (ii)  if you are an Executive Vice President or higher, you will give ninety (90)        days’ advance notice;               (iii) if  you  are  a  Vice  President  in  SSGM,  you  will  give  thirty  (30)  days’        advance notice; and              (iv)  otherwise, you will give sixty (60) days’ advance notice.        (c)   During the Notice Period, you will cooperate with your Employer, as well as the  Company and its Subsidiaries, and provide them with any requested information to assist with  transitioning your duties, accomplishing its or their business, and/or preserving its or their client  relationships.          (d)   In its sole discretion, during the Notice Period, your Employer or the Company  may place you on a partial or complete leave of absence and relieve you of some or all of your  duties and responsibilities.  Except as provided otherwise in (e) below, at all times during the  Notice Period you shall continue to be an employee of your Employer, shall continue to receive  your  regular  salary  and  benefits  (although  you  may  not  be  eligible  for  any  new  incentive  compensation awards or, subject to applicable law, to accrue any paid vacation time), and shall  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the  Company  and  its  Subsidiaries.          (e)   You agree that should you fail to provide advance notice of your resignation as  required in this Paragraph 4, your Employer, the Company or any of its Subsidiaries shall be  entitled to seek injunctive relief restricting you from employment for a period equal to the period  for which notice of resignation was required but not provided, and for the period of restriction  under Paragraph 5, if applicable, in addition to any other remedies available under law.         (f)   If  you  have sixty  (60) or  fewer  days’  notice  remaining  in  your  required  Notice  Period under this Paragraph 4, your Employer, or the Company, or any of its Subsidiaries may,  at any time during the remainder of your Notice Period, release you from your obligations under  this Paragraph 4 and give immediate effect to your resignation; provided that such action shall  not affect your other obligations under this Countries Addendum A.          (g)   Notwithstanding the foregoing, if you hold the title of Executive Vice President or  higher this Paragraph 4 shall not apply in the event you terminate your Employment for Good  Reason on or prior to the first anniversary of a Change in Control (each as defined in the Plan).   5.    Non-Competition.        (a)   This  Paragraph  5  shall  apply  to  you  at  any  time  that  you  hold  the  title  of  Executive Vice President or higher, except as provided below.  You should review it carefully  and may, if you wish, consult with an attorney before accepting this Award.         (b)   During your Employment and for the twelve (12) months following its termination  for any reason (the “Non-Compete Period”), you will not, anywhere in the Restricted Area, for  yourself or any other person or entity, directly or indirectly, in any Restricted Capacity, engage  in,  provide  services  to,  consult  for,  or  be  employed  by  a  business  that  provides  products  or  services competitive with any products or services of your Employer, the Company or any of its                                                                                 16                                             

 

   Subsidiaries with respect to which you were involved at any time during your Employment or,  with  respect  to  the  portion  of  the  Non-Compete  Period  that  follows  termination  of  your  Employment, within the two years preceding the date of the termination of your #Employment.         (c)   If  you  reside  in  or  have  a  primary  reporting  location  in  California,  then  this  Paragraph  5  applies  only  during  your  Employment,  but  has  no  effect  after  the  termination  of  your Employment for any reason.         (d)   If you reside in or are employed in  Massachusetts and State Street terminates  your  employment  involuntarily  not  for  cause,  then  this  Paragraph  5  applies  only  during  your  Employment, but has no effect after such termination. Here, “cause” means                (i)   your Employer’s or the Company’s good faith determination that it has a        reasonable basis for dissatisfaction with your Employment for reasons such as lack of        capacity or diligence, failure to conform to usual standards of conduct, or other culpable        or inappropriate behavior or                             (ii)  other  grounds  for  discharge  that  are  reasonably  related,  in  your         Employer’s or the Company’s honest judgment, to the needs of the business of your         Employer, the Company or any of its Subsidiaries. In addition, if you violate a fiduciary         duty  to  your  Employer,  the  Company  or  any  of  its  Subsidiaries,  then  the  post-        employment portion of the Non-Compete Period shall be extended by the time during         which you engage in such activities, for up to a total of 2 years following termination of         your Employment.         (e)   “Restricted Area” means anywhere that your Employer, the Company or any of  its Subsidiaries markets its products or services (which you acknowledge specifically includes  the  entire world),  or  with  respect  to  the  portion  of  the  Non-Compete  Period  that  follows  termination  of  your Employment,  anywhere  in  which  you  provided  services  or  had  a  material  presence or influence on behalf of your Employer, the Company or any of its Subsidiaries at any  time within the 2-year period immediately preceding such termination.         (f)   “Restricted  Capacity” means  any  capacity,  or  with  respect to the  portion  of the  Non-Compete Period that follows termination of your Employment, any capacity that is the same  or similar to the capacity in which you were employed by your Employer, the Company or any of  its  Subsidiaries  at  any  time  within  the  2-year  period  immediately  preceding  such  termination  and/or  involves  any  services  that  you  provided  to  your  Employer,  the  Company  or  any  of  its  Subsidiaries at any time within such 2-year period.   6.    Definitions.  For  the  purpose  of this  Countries  Addendum  A,  the  following  terms  are  defined as follows:          (a)   “Client”  means  a prospective, present  or  former  customer  or  client  of  the  Company or any of its Subsidiaries with whom you have had, or with whom persons you have  supervised have had, substantive and recurring personal contact during your Employment with  the Company or any of its Subsidiaries.  A former customer or client means a customer or client  for which the Company  or any of its Subsidiaries stopped providing all  services  within twelve  (12) months prior to the date your Employment with your Employer ends.          (b)   “Confidential  Information”  includes  but  is  not  limited  to  all  trade  secrets,  trade  knowledge, systems, software, code, data documentation, files, formulas, processes, programs,                                                                                 17                                             

 

   training aids, printed materials, methods, books, records, client files, policies and procedures,  client and prospect lists, employee data and other information relating to the operations of the  Company  or  any  of  its  Subsidiaries and  to  its  or  any  of  their  customers,  and  any  and  all  discoveries,  inventions  or  improvements  thereof  made  or  conceived  by  you  or  others  for  the  Company or any of its Subsidiaries whether or not patented or copyrighted, as well as cash and  securities  account  transactions  and  position  records  of  clients,  regardless  of  whether  such  information is stamped “confidential.”         (c)    “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other entity  or  organization,  other  than  your Employer, the Company or any of its Subsidiaries.        (d)    “Solicitation of Business” means the attempt through direct or indirect contact by  you or by any other Person with your assistance to induce a Client to:                (i)   transfer the Client’s business from the Company or any of its Subsidiaries        to any other person or entity;               (ii)  cease  or  curtail  the  Client’s  business  with  the  Company  or  any  of  its        Subsidiaries; or               (iii) divert a business opportunity from the Company or any of its Subsidiaries        to any other person or entity, which business or business opportunity concerns or relates        to  the  business  with  which  you  were  actively  connected  during  your Employment with        the Company or any of its Subsidiaries.          (e)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common  control with the Company, including direct and indirect subsidiaries.   7.    Post-Employment  Cooperation.  You  agree  that,  following  the  termination  of  your  Employment with  the  Company  and  its  Subsidiaries,  you  will  reasonably  cooperate  with  the  Company or the relevant Subsidiary with respect to any matters arising during or related to your  Employment,  including  but  not  limited  to  reasonable  cooperation  in  connection  with  any  litigation, governmental investigation, or regulatory or other proceeding (even if such litigation,  governmental  investigation,  or  regulatory  or  other  proceeding  arises following  the  date  of this  Award  to  which this  Countries  Addendum  A is  appended  or  following  the  termination  of  your  Employment).  The Company or any of its Subsidiaries shall reimburse you for any reasonable  out-of-pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation.   8.    Non-Disparagement.  Subject  to  Paragraph  16,  below,  you  agree  that  during  your  Employment and following the termination thereof you shall not make any false, disparaging, or  derogatory  statements  to  any  media  outlet  (including  Internet-based  chat  rooms,  message  boards, any and all social media, and/or web pages), industry groups, financial institutions, or to  any  current,  former  or  prospective  employees,  consultants,  clients,  or  customers  of  the  Company or its Subsidiaries regarding the Company, its Subsidiaries or any of their respective  directors,  officers,  employees,  agents,  or  representatives,  or  about  the  business  affairs or  financial condition of the Company or any of its Subsidiaries.   9.    Enforcement.  You  acknowledge  and  agree  that  the  promises  contained  in this  Countries Addendum A are necessary to the protection of the legitimate business interests of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  Confidential  Information,  trade  secrets  and  goodwill,  and  are  material  and  integral  to  the                                                                                 18                                             

 

   undertakings  of  the  Company  under  this  Award  to  which this  Countries  Addendum  A is  appended.   You  further  agree  that  one  or  more  of  your  Employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in  the  event  you  do  not  perform  such  promises  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly, your Employer, the Company and any of its Subsidiaries shall each be entitled to  preliminary or permanent injunctive or other equitable relief or remedy without the need to post  bond, and to recover its or their reasonable attorney’s fees and costs incurred in securing such  relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or they may  be  entitled.   You  further  agree  that,  the  periods  of  restriction  contained  in this  Countries  Addendum A shall be tolled, and shall not run, during any period in which you are in violation of  the  terms  of this  Countries  Addendum  A,  so  that  your  Employer,  the  Company  and  its  Subsidiaries shall have the full protection of the periods agreed to herein.  Should the Company  determine that any portion of this Award are to be forfeited on account of your breach of the  provisions of this Countries Addendum A, any unvested portion of your Award will cease to vest  upon such determination.   10.   No  Waiver.  No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries  in  exercising any right under this Countries Addendum A shall operate as a waiver of that right or  of any other right.  Any waiver or consent as to any of the provisions herein provided by your  Employer,  the  Company  or  any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance, and may not be construed as a broader waiver of rights or as a bar to enforcement of  the provision(s) at issue on any other occasion.   11.   Relationship  to  Other  Agreements.  This Addendum A  supplements  and  does  not  limit, amend or replace any other obligations you may have under applicable law or any other  agreement  or  understanding  you  may  have  with  your  Employer,  the  Company  or  any  of  its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of  them,  whether  such  additional  obligations have been agreed to in the past, or are agreed to in the future.   12.   Interpretation of Business Protections.  The agreements made by you in Paragraphs  1, 2, 3, 4 and 5 above shall be construed and interpreted in any judicial or other adjudicatory  proceeding to permit their enforcement to the maximum extent permitted by law, and each of  the  provisions  to this  Countries  Addendum  A is  severable  and  independently  enforceable  without reference to the enforcement of any other provision.  If any restriction set forth in this  Countries  Addendum  A is  found  by  any  court  of  competent  jurisdiction  to  be  unenforceable  because it extends for too long a period of time or over too great a range of activities or in too  broad a geographic area, it shall be interpreted to extend only over the maximum period of time,  range of activities or geographic area as to which it may be enforceable.   13.   Assignment.  Except as provided otherwise herein, this Countries Addendum A shall be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors  and  assigns, including any person or entity which acquires the Company or its assets or business;  provided, however, that your obligations are personal and may not be assigned by you.    14.   Electronic Acceptance.  By accepting this Award electronically, you will be deemed to  have acknowledged and agreed that you are bound by the terms of this Countries Addendum A,  and it shall be deemed to have been accepted by the Company.  You agree that this electronic  acceptance  by  both  you  and  the  Company  shall  be  deemed  equivalent  to  the  Award  having  been signed by both parties.                                                                                  19                                             

 

   15.   Notification Requirement.  Until forty-five (45) days after the period of restriction under  Paragraph 5 expires, you shall give notice to the Company of each new business activity you  plan  to  undertake,  at  least five  (5) business  days  prior  to  beginning  any  such  activity.   Such  notice shall state the name and address of the Person for whom such activity is undertaken and  the nature of your business relationship(s) and position(s) with such Person.  You shall provide  the  Company  with  such  other  pertinent  information  concerning  such  business  activity  as  the  Company may reasonably request in order to determine your continued compliance with your  obligations under this Countries Addendum A.   16.   Certain Limitations.        (a)   Nothing  in this  Countries  Addendum  A prohibits  you  from  reporting  possible  violations of federal law or regulation to any governmental agency or regulatory authority or from  making other disclosures that are protected under the whistleblower provisions of federal law or  regulation.   Moreover,  nothing  in this  Countries  Addendum  A requires  you  to  notify  the  Company that you have made any such report or disclosure.  However, in connection with any  such  activity,  you  acknowledge  you  must  take  reasonable  precautions  to  ensure  that  any  Confidential Information that is disclosed to such authority is not made generally available to the  public, including by informing such authority of the confidentiality of the same.  You shall not be held criminally or civilly liable under any Federal or State trade secret law if you  disclose a Company trade secret               (i)   in  confidence  to  a  Federal,  State,  or  local  government  official,  either        directly  or  indirectly,  or  to  an  attorney,  solely  for  the  purposes  of  reporting  or        investigating a suspected violation of law; or                             (ii)  in a complaint or other document filed in a lawsuit or other proceeding, if        such filing is made under seal.        (b)   Despite  the  foregoing,  you  also  acknowledge  that  you  are  not  permitted  to  disclose to any third-party, including any governmental or regulatory authority, any information  learned in the course of your Employment that is protected from disclosure by any applicable  privilege, including but not limited to the attorney-client privilege, attorney work product doctrine,  the bank examiner’s privilege, and/or privileges applicable to information covered by the Bank  Secrecy Act (31 U.S.C. §§ 5311-5330), including information that would reveal the existence or  contemplated  filing  of  a  suspicious  activity  report.   Your  Employer,  the  Company  and  its  Subsidiaries  do  not  waive  any  applicable  privileges  or  the  right  to  continue  to  protect  its  and  their  privileged  attorney-client  information,  attorney  work  product,  and  other  privileged  information.                                                                           *     *    *     *    *   *   *  Entire  Agreement.  The Plan and the Agreement constitute the complete understanding and  agreement between the parties to the Agreement with respect to this Award, and supersedes  and cancels any previous oral or written discussions, agreements or representations regarding  this Award.                                                                                        20                                             

 

                                 B.    AUSTRALIA  ____________________________________________________________________________    1.    Tax  Deferral.  This  Award  is  intended  to  be  subject  to  tax  deferral  under  Subdivision  83A-C  of  the  Income  Tax  Assessment  Act  1997  (subject  to  the  conditions  and  requirements  thereunder).    2.    Attached Offer Document.  The terms of your Award incorporate the rules of the Plan,  the Agreement, this Countries Addendum and the provisions of the attached Offer Document.   The Offer Document is hereby incorporated into, and forms an integral and material part of, the  Agreement and this Countries Addendum.  By accepting your Award, you will be bound by the  rules of the Plan, the Agreement, this Countries Addendum and the attached Offer Document.        3.    Notice and Non-Compete. In consideration of your receipt of this Award, you expressly  agree  to  comply  with  the  terms  and  conditions below  without  regard  to  whether  or  not  any  amount has been forfeited, paid, delivered or repaid, under this Award at any time, including the  time you separate from service with your Employer, the Company and its Subsidiaries.  It is a  condition of this Award that, if you fail to comply with the terms and conditions below, then the  Company may in its absolute discretion determine that any or all of the amounts remaining to be  paid under this Award should be forfeited.  All terms used herein shall have the meaning given to them in the Plan or the Award, except as  otherwise expressly provided herein.     (a)   Notice Period Upon Resignation.       (i)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their  business     interests and goodwill in the event of your resignation from Employment for any reason, if     you hold the title of Executive Vice President or higher immediately prior to termination of     your Employment, you agree to give your Employer advance notice of your resignation. The     duration of the advance notice you provide (the “Notice Period”) will be determined by your     title at the time you deliver such notice, as follows—           (1)   If  you  are  a  member  of  the  State  Street  Corporation  Management           Committee, you will give 180 days’ advance notice in writing; and           (2)   If  you  are  an Executive  Vice  President or  higher,  you  will  give  90  days’           advance notice in writing.           For  the  avoidance  of  doubt,  the  Notice  Periods  set  out  above  shall  be  subject           always  to  any  contractual  obligation  you  have  to  give  a  longer  period  of  notice  of           termination  of  your  Employment  (whether  such  obligation  is  contained  in  your           contract of Employment or any other agreement to which you are a party).      ii)  During  the  Notice  Period,  you  will  cooperate  with  your  Employer,  as  well  as  the      Company and its Subsidiaries, and provide them with any requested information to assist      with transitioning your duties, accomplishing its or their business, and/or preserving its or      their client relationships. In its sole discretion, during the Notice Period, your Employer or      the Company may place you on a partial or complete leave of absence and relieve you of      some or all of your duties and responsibilities. Except as provided otherwise in (iii) below,      at  all  times  during  the  Notice  Period  you  shall  continue  to  be  an  employee of  your      Employer, shall continue to receive your regular salary and benefits and you will continue      to  comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its                                                                                 21                                             

 

                 Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive  compensation awards   made  on  or  after  the  first  day  of  the  Notice  Period  or  to  accrue  any  vacation  save  as   required by statute.   iii) In  its  sole  discretion,  at  any  time  during  the  Notice  Period,  the  Company  or  your   Employer  may  release  you  from  your  obligations  under  this  Paragraph  (a)  by  giving   immediate effect to your resignation and making a payment of basic salary in lieu of any   remaining portion of the Notice Period; provided that such action shall not affect your other   obligations under this Addendum.     b)  Non-Competition.   i)   This Paragraph (b) shall apply to you at any time that you hold the title of Executive   Vice President or higher and following the termination of your Employment where you held   the title of Executive Vice President or higher immediately prior to such termination.   ii)  During  your  Employment  and  for  the  12  months  following  its  termination  for  any   reason, you will not within the Restricted Territory, directly or indirectly, whether as owner,   director,  partner,  investor,  consultant,  agent,  employee,  co-venturer  or otherwise  and   whether alone or in conjunction with or on behalf of any other person:        (1) become  engaged,  employed,  concerned  or  interested  in  or  provide  technical,           commercial or professional advice to, any Person which supplies or provides (or           intends to supply or provide) Products or Services in competition with such parts           of the business of the Employer or any Relevant Group Company with which you           were materially engaged or involved or for which you were responsible during the           Relevant Period;        (2) compete with your Employer or any Relevant Group Company, or undertake any           planning for any business competitive with the business of your Employer or any           Relevant Group Company;        (3) engage in any manner in any activity that is directly or indirectly competitive or           potentially  competitive  with  the  business  of  your  Employer,  or  any  Relevant           Group Company as conducted or under consideration during the Relevant Period           and further agree not to work or provide services, in any capacity, whether as an           employee,  independent  contractor  or  otherwise,  whether  with  or  without           compensation, to any Person who is engaged in any business that is competitive           with  the  business  of  your  Employer  or  any  Relevant  Group  Company,  as           conducted or in planning during the Relevant Period.      iii) The period of 12 months referred to in Paragraph 3(b)(ii) above will be reduced by        one  day  for  every  day  during  which,  at  the  Employer’s  direction,  you  are  on  a        complete leave of absence pursuant to Paragraph 3(a)(ii) above.     iv) Nothing  in this  Paragraph  (b)  shall  prevent  your  passive  ownership  of  two  percent        (2%) or less of the equity securities of any publicly traded company.  c) Definitions.   For  the  purpose  of  this  Clause  3,  the  following  terms  are  defined  as     follows:       i) “Client” means a current or former customer or client of the Company or any of its        Subsidiaries with whom you have had, or with whom persons you have supervised        have had, substantive and recurring personal contact during the Relevant Period. A        former customer or client means a customer or client for which the Company or any                                                                           22                                                       

 

                      of  its  Subsidiaries  stopped  providing  all  services  within  twelve  months  prior  to  the        date your Employment with your Employer ends.       ii) “Products or Services” means any products or services which are the same as, of the        same  kind  as,  of  a  materially  similar  kind  to,  or  competitive  with,  any  products  or        services  supplied  or  provided  by  your  Employer  or  Relevant  Group  Company  and        with which you were materially concerned or connected within the Relevant Period.     iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an        association, a partnership, a limited liability partnership, an estate, a trust and any        other  entity  or  organization  (whether  conducted  on  its  own  or  as  part  of  a  wider        entity), other than your Employer, the Company or any of its Subsidiaries.     iv) “Relevant Group Company” means the Company and/or any Subsidiaries for which        you  have  performed  services  or  in  respect  of  which  you  have  had  operational  or        managerial responsibility at any time during the Relevant Period.     v) “Relevant  Period”  means  the  period  of  24  months  immediately  before  the  date  of        termination  of  your  Employment,  or  (where  such  provision  is  applied)  the  date  of        commencement of any period of complete leave of absence pursuant to Paragraph        3(a)(ii).     vi) “Restricted Territory” means any area or territory:        (1) in which you worked during the Relevant Period; and/or        (2) in relation to which you were responsible for, or materially involved in, the supply           of Products or Services in the Relevant Period.     vii) “Subsidiaries” means any entity controlling, controlled by or under common control        with the Company, including direct and indirect subsidiaries.  d) Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your     Employment with the Company and its Subsidiaries, you will reasonably cooperate with     the  Company  or  the  relevant  Subsidiary  with  respect  to  any  matters  arising  during  or     related  to  your  Employment,  including  but  not  limited to  reasonable  cooperation  in     connection  with  any  litigation,  governmental  investigation,  or  regulatory  or  other     proceeding  (even  if  such  litigation,  governmental  investigation,  or  regulatory  or  other     proceeding arises following the date of this Award to which this Addendum is appended     or  following  the  termination  of  your  Employment).   The  Company  or  any  of  its     Subsidiaries  shall  reimburse  you  for  any  reasonable  out-of-pocket  and  properly     documented expenses you incur in connection with such cooperation.  e) Enforcement.  You acknowledge and agree that the promises contained in this Clause     3 are necessary to the protection of the legitimate business interests of your Employer,     the Company and its Subsidiaries, including without limitation its and their confidential     information, trade secrets and goodwill, and are material and integral to the undertakings     of  the  Company  under  this  Award  to  which  this  Addendum  is  appended.   You  further     agree  that  one  or  more  of  your  Employer,  the  Company  and  its  Subsidiaries  will  be     irreparably harmed in the event you do not perform such provisions in accordance with     their specific terms or otherwise breach the promises made herein.  Accordingly, your     Employer, the Company and any of its Subsidiaries shall each be entitled to preliminary     or  permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post     bond,  and  to  recover  its  or  their  reasonable  attorney’s  fees  and  costs  incurred  in                                                                           23                                                       

 

                   securing such relief, in addition to, and not in lieu of, any other relief or remedy at law to     which  it  or  they  may  be  entitled,  including  the  immediate  forfeiture  of  any  as-yet     unvested portion of the Award.   f) No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries  in     exercising any right under this Addendum shall operate as a waiver of that right or of any     other right. Any waiver or consent as to any of the provisions herein provided by your     Employer, the Company or any of its Subsidiaries must be in writing, is effective only in     that  instance,  and  may  not  be  construed  as  a  broader  waiver  of  rights  or  as  a  bar  to     enforcement of the provision(s) at issue on any other occasion.  g) Relationship to Other Agreements.  This Addendum supplements and does not limit,     amend or replace any other obligations you may have under applicable law or any other     agreement or understanding you may have with your Employer, the Company or any of     its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of  them,  whether  such     additional obligations have been agreed to in the past, or are agreed to in the future.  h) Interpretation of Business Protections.  The agreements made by you in Paragraphs     3(a)  and  3(b)  above  shall  be  construed  and  interpreted  in  any  judicial  or  other     adjudicatory proceeding to permit their enforcement to the maximum extent permitted by     law,  and  each  of  the  provisions  to  this  Addendum  is  severable  and  independently     enforceable without reference to the enforcement of any other provision.  Consistent with     the Restraint  of  Trade  Act  1976 (NSW), if  any  restriction  set  forth  in this  Clause  3  is     found by any court of competent jurisdiction to be unenforceable because it extends for     too  long  a  period  of  time  or  over  too  great  a  range  of  activities  or  in  too  broad  a     geographic area, it shall be interpreted to extend only over the maximum period of time,     range of activities or geographic area as to which it may be enforceable.  i) Assignment.  Except  as  provided  otherwise  herein,  this  Addendum  shall  be  binding     upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors and     assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or     business;  provided,  however,  that  your  obligations  are  personal  and  may  not  be     assigned by you.   j) Electronic Acceptance.  By accepting this Award electronically, you will be deemed to     have acknowledged and agreed that you are bound by the terms of this Addendum, and     it shall be deemed to have been accepted by the Company.  k) Notification Requirement. During the period of restriction under Paragraph 3(b) above     and for a further 45 days after that period of restriction has expired, you shall give notice     to the Company of each new business activity you plan to undertake, at least 5 business     days prior to beginning any such activity.  Such notice shall state the name and address     of  the  Person  for  whom  such  activity  is  undertaken  and  the  nature  of  your  business     relationship(s) and position(s) with such Person.  You shall provide the Company with     such other pertinent information concerning such business activity as the Company may     reasonably  request  in  order  to  determine  your  continued  compliance  with  your     obligations under this Addendum.  l) Certain Limitations     i) Nothing in this Addendum prohibits you from reporting possible violations of United        States federal law or regulation to any governmental agency or regulatory authority        or  from  making  other  disclosures  that  are  protected  under  the  whistleblower                                                                            24                                                       

 

            provisions  of  United  States  federal  law  or  regulation.   Moreover,  nothing  in  this           Addendum requires you to notify the Company that you have made any such report           or disclosure.  However, in connection with any such activity, you acknowledge you           must take reasonable precautions to ensure that any confidential information that is           disclosed to such authority is not made generally available to the public, including by           informing such authority of the confidentiality of the same.        ii) Despite the foregoing, you also acknowledge that you are not permitted to disclose           to any third-party, including any governmental or regulatory authority, any information           learned in the course of your Employment that is protected from disclosure by any           applicable privilege, including but not limited to the attorney-client privilege, attorney           work product doctrine, the bank examiner’s privilege, and/or privileges applicable to           information  covered  by  the  Bank  Secrecy  Act (31  U.S.C.  §§  5311-5330),  including           information  that  would  reveal  the  existence  or  contemplated  filing  of  a  suspicious           activity report.  Your Employer, the Company and its Subsidiaries do not waive any           applicable  privileges  or  the  right  to  continue  to  protect  its  and  their  privileged           attorney-client information, attorney work product, and other privileged information.                                          C.    Brazil                                           ____________________________________________________________________________          1.    Compliance  with  Law.   By  accepting  the Award, you expressly  acknowledge  and  agree to  comply  with  applicable  Brazilian  laws  and  to  pay  any  and  all  applicable  taxes  associated with the vesting of the Award and the receipt of any associated earnings.                2.    Labor Law Acknowledgment.  You expressly acknowledge and agree that, for  all  legal  purposes,  (a)  the  benefits  provided pursuant  to the Agreement and  the  Plan  are  the  result  of  commercial  transactions  unrelated  to  your employment;  (b)  the Agreement and  the  Plan are  not  a  part  of  the  terms  and  conditions  of  your  employment;  and  (c) the  income  you  realize from the Award, if any, is not part of your remuneration from employment.            BY  ELECTRONICALLY  ACCEPTING  THE       AGREEMENT     AND  THIS  COUNTRIES  ADDENDUM,  YOU  ACKNOWLEDGE,  UNDERSTAND  AND  AGREE  TO  THE  TERMS  AND  CONDITIONS OF THE PLAN, YOUR AGREEMENT AND THIS COUNTRIES ADDENDUM.                                                                                                                                                               D.    CANADA  ____________________________________________________________________________                        1.    Use  of  English  Language.  The  following  provision  will  apply  if  you  are  a  resident of Quebec:                                                                                    25                                             

 

         You acknowledge and agree that it is your express wish that the Agreement, as well as        all documents, notices and legal proceedings entered into, given or instituted pursuant        hereto or relating directly or indirectly hereto, be drawn up in English.          In French:          Vous reconnaissez et consentez que c’est votre souhait exprès qui cet accord, de        même que tous documents, toutes notifications et tous procédés légaux est entré        dans,  donné  ou  instituté  conformément  ci-annexé  ou  relatant  directement  ou        indirectement ci-annexé, est formulé dans l’anglais.                Une version française de cet Accord peut être consultée sur l’intranet.                                        E.    FRANCE  ____________________________________________________________________________            1.    French Language Version.  You may obtain a copy the Agreement in French on  the Fidelity Website.            In French:  Une version française de cet Accord peut être consultée sur l’intranet.                                                                                            F.    GERMANY  ____________________________________________________________________________            1.          Subsection (a) of Section 2 General Circumstances of Forfeiture shall not apply        to an Award subject to this Agreement.                                              G.    HONG KONG  ____________________________________________________________________________          1.    IMPORTANT  NOTICE.   WARNING:  The  contents  of the Agreement, this  Countries Addendum, the Plan, and all other materials pertaining to this Award and/or the Plan  have not been reviewed by any regulatory authority in Hong Kong.  You are hereby advised to  exercise caution in relation to the offer thereunder.  If you have any doubts about any of the  contents of the aforesaid materials, you should obtain independent professional advice.          2.    Nature of the Plan.  The Company specifically intends that the Plan will not be  treated  as  an  occupational  retirement  scheme  for  purposes  of  the Occupational  Retirement  Schemes  Ordinance  (“ORSO”).   To  the  extent  any  court,  tribunal  or  legal/regulatory  body  in                                                                                  26                                             

 

   Hong  Kong  determines  that  the  Plan  constitutes  an  occupational  retirement  scheme  for  the  purposes of ORSO, the grant of Awards shall be null and void.                3.    Award Benefits Are Not Wages.  This Award does not form part of your wages  for purposes of calculating any statutory or contractual payments under Hong Kong Law.                4.    Notice and Non-Compete.  In consideration of your receipt of this Award, you  expressly agree to comply with the terms and conditions below without regard to whether or not  any amount has been forfeited, paid, delivered or repaid, under this Award at any time, including  the time you separate from service with your Employer, the Company and its Subsidiaries.  It is  a condition of this Award that, if you fail to comply with the terms and conditions below, then the  Company may in its absolute discretion determine that any or all of the amounts remaining to be  paid under this Award should be forfeited.          All terms used herein shall have the meaning given to them in the Plan or this Award, except as  otherwise expressly provided herein.   (a)  Notice Period Upon Resignation.          (i)   In  order  to  permit  your  Employer,  the  Company  and  its  Subsidiaries  to  safeguard        their business interests and goodwill in the event of your resignation from Employment        for  any  reason,  you  agree  to  give  your  Employer  advance  notice  of  your  resignation.         The duration of the advance notice you provide (the “Notice Period”) will be determined        by your title at the time you deliver such notice, as follows—              (1)   If  you  are  a  member  of  the  State  Street  Corporation  Management              Committee, you will give 180 days’ advance notice; and              (2)   If you are an Executive  Vice President or higher, you  will give 90 days’              advance notice.               (3)   For  the  avoidance  of  doubt,  the  Notice  Periods  set  out  above  shall  be              subject always to any contractual obligation you have to give a longer period of              notice of termination of your Employment (whether such obligation is contained in              your contract of Employment or any other agreement to which you are a party).        (ii)  During the Notice Period, you will cooperate with your Employer, as well as the        Company  and  its  Subsidiaries,  and  provide  them  with  any  requested  information  to        assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or        preserving its or their client relationships.  In its sole discretion, during the Notice Period,        your Employer or the Company may place you on a partial or complete leave of absence        and relieve you of some or all of your duties and responsibilities.  Except as provided        otherwise in (iii) below, at all times during the Notice Period you shall continue to be an        employee of your Employer, shall continue to receive  your regular salary and benefits        and  you  will  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the        Company,  and  its  Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive        compensation awards made on or after the first day of the Notice Period or to accrue        any vacation save as required by statute.          (iii) In its sole discretion, at any time during the Notice Period, the Company or your        Employer  may  release  you  from  your  obligations  under  this  Section  4  by  giving        immediate  effect  to  your  resignation  and  making  a  payment  in  lieu  of  any  notice  due;                                                                                  27                                             

 

                     provided  that  such  action  shall  not  affect  your  other  obligation  under this  Countries       Addendum.    (b)  Non-Competition.       (i)   This  Paragraph  (b)  shall  apply  to  you  at  any  time  that  you  hold  the  title  of       Executive Vice President or higher.       (ii)  During your Employment and for the 6 months following its termination for any       reason,  you  will  not  within  the  Restricted  Territory,  directly  or  indirectly,  whether  as       owner, director, partner, investor, consultant, agent, employee, co-venturer or otherwise       and whether alone or in conjunction with or on behalf of any other person:             (1)   become  engaged,  employed,  concerned  or  interested  in  or  provide             technical,  commercial  or  professional  advice  to,  any  Person  which  supplies  or             provides  (or  intends  to  supply  or  provide)  Products  or  Services  in  competition             with such parts of the business of the Employer or any Relevant Group Company             with  which  you  were  materially  engaged  or  involved  or  for  which  you  were             responsible during the Relevant Period;             (2)   compete  with  your  Employer  or  any  Relevant Group  Company,  or             undertake any planning for any business competitive  with the business  of your             Employer or any Relevant Group Company;             (3)   engage  in  any  manner  in  any  activity  that  is  directly  or  indirectly             competitive or potentially competitive with the business of your Employer, or any             Relevant  Group  Company  as  conducted  or  under  consideration  during  the             Relevant  Period  and  further  agree  not  to  work  or  provide  services,  in  any             capacity, whether as an employee, independent contractor or otherwise, whether             with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business             that  is  competitive  with  the  business  of  your  Employer  or  any  Relevant  Group             Company, as conducted or in planning during the Relevant Period.        (iii) The period of 6 months referred to in Paragraph (b)(ii) above will be reduced by       one day for every day during which, at the Employer’s direction, you are on a complete       leave of absence pursuant to Paragraph (ii)  above.       (iv)  Nothing  in  this  Paragraph (b)(iv) shall  prevent  your  passive ownership  of  two       percent (2%) or less of the equity securities of any publicly traded company.       (c)   Definitions.  For the purpose of this Countries Addendum, the following terms  are defined as follows:         (i)   “Client”  means  a  present  or  former  customer  or  client  of  your  Employer,  the       Company or any of its Subsidiaries with whom you have had, or with whom persons you       have  supervised  have  had,  substantive  and  recurring  personal  contact  during  the       Relevant Period.  A former customer or client means a customer or client for which your       Employer, the Company or any of its Subsidiaries stopped providing all services within       twelve months prior to the date your Employment with your Employer ends.         (ii)  “Products or Services” means any products or services which are the same as, of       the  same  kind  as,  of  a  materially  similar  kind  to,  or  competitive  with,  any  products  or       services supplied or provided by your Employer or Relevant Group Company and with       which you were materially concerned or connected within the Relevant Period.                                                                                28                                                         

 

                     (iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an       association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization       (whether conducted on its own or as part of a wider entity), other than your Employer,       the Company or any of its Subsidiaries.       (iv)  “Relevant  Group  Company”  means  the  Company  and/or  any  Subsidiaries  for       which you have performed services or in respect of which you have had operational or       managerial responsibility at any time during the Relevant Period.       (v)    “Relevant Period” means the period of 24 months immediately before the date of       termination  of  your Employment,  or  (where  such  provision  is  applied)  the  date  of       commencement  of  any  period  of  complete  leave  of  absence  pursuant  to Paragraph       4(a)(ii).       (vi)  “Restricted Territory” means any area or territory:             (1)   in which you worked during the Relevant Period; and/or             (2)   in relation to which you were responsible for, or materially involved in, the             supply of Products or Services in the Relevant Period.       (vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common       control with the Company, including direct and indirect subsidiaries.       (d)   Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with your Employer, you will reasonably cooperate with your Employer, the  Company or the relevant Subsidiary with respect to any matters arising during or related to  your Employment, including but not limited to reasonable cooperation in connection with any  litigation, governmental investigation, or regulatory or other proceeding (even if such litigation,  governmental investigation, or regulatory or other proceeding arises following the date of this  Award  to  which this  Countries  Addendum is  appended  or  following  the  termination  of  your  Employment).  Your Employer, the Company or any of its Subsidiaries shall reimburse you for  any reasonable out-of-pocket and properly documented expenses you incur in connection with  such cooperation.       (e)   Enforcement.  You acknowledge and agree that the promises contained in this  Countries  Addendum are  necessary  to  the  protection  of  the  legitimate business  interests of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  confidential  information,  trade  secrets  and  good  will,  and  are  material  and  integral  to  the  undertakings  of  the  Company  under  this  Award  to  which this  Countries  Addendum is  appended.   You  further  agree  that  one  or  more  of  your  Employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly, your Employer, the Company and any of its Subsidiaries shall each be entitled to  preliminary  or  permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post bond, and to recover its or their reasonable attorney’s fees and costs incurred in securing  such relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or they  may  be  entitled,  including  the  immediate  forfeiture  of  any  as-yet  unvested  portion  of  this  Award.  You  further  agree  that,  the  periods  of  restriction  contained  in this  Countries  Addendum shall be tolled, and shall not run, during any period in which you are in violation of  the  terms  of this  Countries  Addendum,  so  that  your  Employer,  the  Company  and  its  Subsidiaries shall have the full protection of the periods agreed to herein.       (f)   No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries                                                                               29                                                         

 

                in exercising any right under this Countries Addendum shall operate as a waiver of that right  or of any other right.  Any waiver or consent as to any of the provisions herein provided by  your Employer, the Company or any of its Subsidiaries must be in writing, is effective only in  that  instance,  and  may  not  be  construed  as  a  broader  waiver  of  rights  or  as  a  bar  to  enforcement of the provision(s) at issue on any other occasion.       (g)   Relationship  to  Other  Agreements.   This Addendum  supplements  and  does  not limit, amend or replace any other obligations you may have under applicable law or any  other agreement or understanding you may have with your Employer, the Company or any of  its Subsidiaries or pursuant to the applicable policies of any of them, whether such additional  obligations have been agreed to in the past, or are agreed to in the future.       (h)   Interpretation  of  Business  Protections.  The  agreements  made  by  you  in  Paragraphs 4(a) and 4(b) above  shall  be  construed  and interpreted  in  any  judicial  or  other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by law,  and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently  enforceable without reference to the enforcement of any other provision.  If any restriction set  forth  in this  Countries  Addendum is  found  by  any  court  of  competent  jurisdiction  to  be  unenforceable because it extends for too long a period of time or over too great a range of  activities  or  in  too  broad  a  geographic  area,  it  shall  be  interpreted  to  extend  only  over  the  maximum  period of  time,  range  of  activities  or  geographic  area  as  to  which  it  may  be  enforceable.       (i)   Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum  shall be binding upon and inure to the benefit of both parties and their respective successors  and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business; provided, however, that your obligations are personal and may not be assigned by  you.        (j)   Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will  be  deemed to have acknowledged and agreed that you are bound by the terms of this Countries  Addendum,  and  it  shall  be  deemed  to  have  been  accepted  by  your  Employer  and  the  Company.       (k)   Notification  Requirement.  Until  45  days  after  the  period  of  restriction  under  Paragraph (b) expires, you shall give notice to your Employer of each new business activity  you  plan  to  undertake, at  least  5  business  days  prior to  beginning  any  such  activity.   Such  notice shall state the name and address of the Person for whom such activity is undertaken  and the nature of your business relationship(s) and position(s) with such Person.  You shall  provide your Employer with such other pertinent information concerning such business activity  as  your  Employer  or  the  Company  may  reasonably  request  in  order  to  determine  your  continued compliance with your obligations under this Countries Addendum.       (l)   Certain Limitations       (i)   Nothing this Countries Addendum prohibits you from reporting possible violations       of federal law or regulation to any governmental agency or regulatory authority or from       making other disclosures that are protected under the whistleblower provisions of federal       law or regulation.  Moreover, nothing in this Countries Addendum requires you to notify       your  Employer or  the  Company  that  you  have  made  any  such  report  or  disclosure.        However,  in  connection  with  any  such  activity,  you  acknowledge  you  must  take       reasonable  precautions to  ensure  that  any  confidential  information  that  is  disclosed  to                                                                                30                                                         

 

         such authority is not made generally available to the public, including by informing such        authority of the confidentiality of the same.        (ii)  Despite  the  foregoing,  you  also  acknowledge  that  you  are  not  permitted  to        disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any        information learned in the course of your Employment that is protected from disclosure        by  any  applicable  privilege,  including  but  not  limited  to  the  attorney-client  privilege,        attorney  work  product  doctrine,  the  bank  examiner’s  privilege,  and/or  privileges        applicable to information covered by the Bank Secrecy Act (31 U.S.C. §§ 5311-5330),        including  information  that  would  reveal  the  existence  or  contemplated  filing  of  a        suspicious  activity  report.   Your  Employer,  the  Company  and  its  Subsidiaries  do  not        waive any applicable privileges or the right to continue to protect its and their privileged        attorney-client information, attorney work product, and other privileged information.                                       H.       IRELAND  ____________________________________________________________________________                                                                                    In consideration of your receipt of this Award, you expressly agree to comply with the terms and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid,  delivered or repaid, under this Award at any time, including the time you separate from service  with your Employer, the Company and its Subsidiaries.  Your failure to comply with the terms  and conditions below may result in the sole determination of the Company in the forfeiture of  any or all of the amounts remaining to be paid under this Award.  All terms and defined terms used herein shall have the meaning given to them in the Plan or this  Award, except as otherwise expressly provided herein.   1.    Notice Period Upon Resignation.          (a)   In order to permit your Employer, the Company and its Subsidiaries to safeguard  their business interests and goodwill in the event of your resignation from Employment for any  reason, you agree to give your Employer advance notice of your resignation.  The duration of  the advance notice you provide (the “Notice Period”) will be determined by your title at the time  you deliver such notice, as follows—              (i)   If  you  are  a  member  of  the  State  Street  Corporation  Management              Committee, you will give 180 days’ advance written notice; and              (ii)  If you are an Executive  Vice President or higher, you  will give 90 days’              advance written notice.               (iii) For  the  avoidance  of  doubt,  the  Notice  Periods  set  out  above  shall  be              subject always to any contractual obligation you have to give a longer period of              notice of termination of your Employment (whether such obligation is contained in              your contract of Employment or any other agreement to which you are a party).        (b)   During the Notice Period, you will cooperate with your Employer, as well as the  Company and its Subsidiaries, and provide them with any requested information to assist with  transitioning your duties, accomplishing its or their business, and/or preserving its or their client  relationships.  In its sole discretion, during the Notice Period, your Employer or the Company                                                                                 31                                             

 

   may place you on a partial or complete leave of absence otherwise known as “garden leave”  and relieve you of some or all of your duties and responsibilities and to cease attending your  place of work and/or to cease contact with the Employer’s employees and customers.  During  any period of garden leave, you will remain subject to the provisions of this agreement and to  your  obligation  of  fidelity  to  your  Employer,  the  Company  and  its  Subsidiaries.  Except  as  provided  otherwise  in Paragraph (d)  below,  at  all  times  during  the  Notice  Period  you  shall  continue to be an employee of your Employer, shall continue to receive your regular salary and  benefits  and  you  will  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its  Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive  compensation  awards  made  on  or  after  the  first  day  of  the  Notice  Period  or,  subject  to  applicable law, to accrue any paid vacation time.        (c)   You  agree  that  should  you  fail  to  provide  advance  written  notice  of  your  resignation  as  required  in  this  Paragraph  1,  your  Employer,  the  Company  or  any  of  its  Subsidiaries  shall  be  entitled  to  seek  injunctive  relief  restricting  you  from  employment  for  a  period  equal  to  the  period  for  which  notice  of resignation  was  required  but  not  provided,  in  addition to any other remedies available under law.         (d)   In its sole discretion, at any time during the Notice Period, the Company or your  Employer may release you from your obligations under this Paragraph 1, and give immediate  effect to your resignation and make a payment of basic salary in lieu of any notice due; provided  that such action shall not affect your other obligation under this Countries Addendum.          2.    Non-Competition.        (a)   This  Paragraph  2  shall  apply  to  you  at  any  time  that  you  hold  the  title  of  Executive Vice President or higher with the Employer and/or the Company or its Subsidiaries.        (b)   During your Employment and for the six months (such period to be reduced by  the duration of the Notice Period as defined in Paragraph 1 above) following its termination for  any reason, you will not, directly or indirectly, whether as owner, partner, investor, consultant,  agent, employee, co-venturer or otherwise, compete with your Employer, the Company or any  of its Subsidiaries within the island of Ireland or the United Kingdom, or undertake any planning  for  any  business  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries.   Specifically,  but  without  limiting  the  foregoing,  you  agree  not  to  engage  in  any  manner in any activity that is directly or indirectly competitive or potentially competitive with the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries  as  conducted  or  under  consideration  at  any  time  during  your Employment and  further  agree  not  to  work  or  provide  services,  in  any  capacity,  whether  as  an  employee,  independent  contractor  or  otherwise,  whether with or without compensation, to any Person who is engaged in any business that is  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries  for  which you have provided services, as conducted or in planning during your Employment. The  foregoing, however, shall not prevent your passive ownership of two percent (2%) or less of the  equity securities of any publicly traded company.        3.    Definitions.  For the purpose of this Countries Addendum, the following terms  are defined as follows:          (a)   “Client” means a present or former customer or client of the Company or any of  its Subsidiaries with whom you have had, or with whom persons you have supervised have had,  substantive and recurring personal contact during your Employment with the Company or any of  its Subsidiaries.  A former customer or client means a customer or client for which the Company                                                                                  32                                             

 

   or any of its Subsidiaries stopped providing all services within twelve months prior to the date  your Employment with your Employer ends.          (b)    “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other  than  your Employer, the Company or any of its Subsidiaries.         (c)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common  control  with  the  Company,  including  direct  and  indirect  subsidiaries  and  has  the  meaning  assigned to such by section 7 of the Companies Act 2014.        4.    Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with the Company and its Subsidiaries, you will make yourself available and  reasonably cooperate with the Company or the relevant Subsidiary or their advisers with respect  to  any  matters  arising  during  or  related  to  your Employment,  including  but  not  limited  to  reasonable  cooperation  in  connection  with  any  litigation,  governmental  investigation,  or  regulatory or other proceeding (even if such litigation, governmental investigation, or regulatory  or other proceeding arises following the date of this Award to which this Countries Addendum is  appended  or  following  the  termination  of  your Employment).   The  Company or  any  of  its  Subsidiaries  shall  reimburse  you  for  any  reasonable  out-of-pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation  provided  that  such  expenses  are  approved in advance by the Company or Employer.        5.    Enforcement.  You acknowledge and agree that the promises contained in this  Countries Addendum are necessary to the protection of the legitimate business interests of your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  Confidential  Information,  trade  secrets  and  good  will,  and  are  material  and  integral  to  the  undertakings of the Company under this Award to which this Countries Addendum is appended.   You further agree that one or more of your Employer, the Company and its Subsidiaries will be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific terms or otherwise breach the promises made herein.  Accordingly, your Employer, the  Company  and  any  of  its  Subsidiaries  shall  each  be  entitled  to preliminary  or  permanent  injunctive or other equitable relief or remedy without the need to post bond, and to recover its or  their reasonable attorney’s/legal fees and costs incurred in securing such relief, in addition to,  and not in lieu of, any other relief or remedy at law to which it or they may be entitled, including  the immediate forfeiture of any as-yet unvested portion of the Award.  You further agree that,  the periods of restriction contained in this Countries Addendum shall be tolled, and shall not run,  during any period in which you are in violation of the terms of this Countries Addendum, so that  your Employer, the Company and its Subsidiaries shall have the full protection of the periods  agreed to herein.        6.    No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries  in exercising any right under this Countries Addendum shall operate as a waiver of that right or  of any other right.  Any waiver or consent as to any of the provisions herein provided by your  Employer,  the  Company  or any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance, and may not be construed as a broader waiver of rights or as a bar to enforcement of  the provision(s) at issue on any other occasion.        7.    Relationship  to  Other  Agreements.   This  Addendum  supplements  and  does  not  limit,  amend  or  replace  any  other  obligations  you  may  have  under  applicable  law  or  any  other agreement or understanding you may have with your Employer, the Company or any of its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of  them,  whether  such  additional                                                                                  33                                             

 

   obligations have been agreed to in the past, or are agreed to in the future.        8.    Interpretation  of  Business  Protections.  The  agreements  made  by  you  in  Paragraphs  1  and  2  above  shall  be  construed  and  interpreted  in  any  judicial  or  other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by law,  and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently  enforceable without reference to the enforcement of any other provision.  If any restriction set  forth  in this  Countries  Addendum is  found  by  any  court  of  competent  jurisdiction  to  be  unenforceable  because  it  extends  for  too  long  a  period  of  time  or  over  too  great  a  range  of  activities  or  in  too  broad  a  geographic  area,  it  shall  be  interpreted  to  extend  only  over  the  maximum  period  of  time,  range  of  activities  or  geographic  area  as  to  which  it  may  be  enforceable.        9.    Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum  shall be binding upon and inure to the benefit of both parties and their respective successors  and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal  and may  not  be  assigned  by  you.         10.   Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will  be  deemed to have acknowledged and agreed that you are bound by the terms of this Countries  Addendum, and it shall be deemed to have been accepted by the Company.        11.   Notification  Requirement.  Until  45  days  after  the  period  of  restriction  under  Paragraph 2 expires, you shall give notice to the Company of each new business activity you  plan to undertake, at least 5 business days prior to beginning any such activity.  Such notice  shall state the name and address of the Person for whom such activity is undertaken and the  nature of your business relationship(s) and position(s) with such Person.  You shall provide the  Company  with  such  other  pertinent  information  concerning  such  business  activity  as  the  Company may reasonably request in order to determine your continued compliance with your  obligations under this Countries Addendum.        12.   Certain  Limitations. Nothing  in this  Countries  Addendum prohibits  you  from  reporting  possible  violations  of  law  or  regulation  to  any  governmental  agency  or  regulatory  authority or from making other relevant disclosures that are protected under the whistleblower  provisions of federal law or regulation.  Moreover, nothing in this Countries Addendum requires  you  to  notify  the  Company  that  you  have  made  any  such  report  or  disclosure.   However,  in  connection with any such activity, you acknowledge you must take reasonable precautions to  ensure that any confidential information that is disclosed to such authority is not made generally  available to the public, including by informing such authority of the confidentiality of the same                                 I.       LUXEMBOURG  ____________________________________________________________________________  In consideration of your receipt of this Award, you expressly agree to comply with the terms and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited,  paid,  delivered or repaid, under this Award at any time, including the time you separate from service  with your Employer, the Company and its Subsidiaries.  Your failure to comply with the terms  and conditions below may result in the sole determination of the Company in the forfeiture of  any or all of the amounts remaining to be paid under this Award.                                                                                  34                                             

 

   All terms used herein shall have the meaning given to them in the Plan or this Award, except as  otherwise expressly provided herein.   1.    Notice Period Upon Resignation.          (a)   In order to permit the Company and its Subsidiaries to safeguard their business  interests and goodwill in the event of your resignation from Employment for any reason, if you  hold the title Executive Vice President or higher you are required to give your Employer advance  notice of your resignation as per the legal provisions.         (b)   During the Notice Period, you will cooperate with your employer, as well as the  Company and its Subsidiaries, and provide them with any requested information to assist with  transitioning your duties, accomplishing its or their business, and/or preserving its or their client  relationships.  In its sole discretion, during the Notice Period, your Employer or the Company  may place you on a partial or complete leave of absence and relieve you of some or all of your  duties and responsibilities.  Except as provided otherwise in Paragraph (d) below, at all times  during the Notice Period you shall continue to be an employee of your Employer, shall continue  to receive your regular salary and benefits and you will continue to comply with the applicable  policies of your Employer, the Company, and its Subsidiaries.  However, you will not be eligible  for any incentive compensation awards made on or after the first day of the Notice Period.         (c)   You agree that should you fail to provide advance notice of your resignation as  required in this Paragraph 1, your Employer, the Company or any of its Subsidiaries shall be  entitled to a compensatory payment in addition to any other remedies available under law.         (d)   At any time during the Notice Period and upon your request formulated in writing,  the Company or your Employer may release you from your obligations under this Section 1, and  give immediate effect to your resignation; provided that such action shall not affect your other  obligations under this Countries Addendum.          2.    Non-Competition.        (a)   This  Paragraph  2  shall  apply  to  you  at  any  time  that  you  hold  the  title  of  Executive Vice President or higher.        (b)   During  your Employment you  will  not,  directly  or  indirectly,  whether  as  owner,  partner, investor, consultant, agent, co-venturer or otherwise, compete with your Employer, the  Company or any of its Subsidiaries in any geographic area in which it or they do business, or  undertake any planning for any business competitive with the business of your Employer, the  Company or any of its Subsidiaries.  Specifically, but without limiting the foregoing, you agree  not to engage in any manner in any activity that is directly or indirectly competitive or potentially  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries  as  conducted or under consideration at any time during your Employment and further agree not to  work or provide services, in any capacity, whether as an employee, independent contractor or  otherwise,  whether  with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business  that  is  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries  for  which  you  have  provided  services,  as  conducted  or  in  planning  during  your  Employment. The foregoing, however, shall not prevent your passive ownership of two percent  (2%) or less of the equity securities of any publicly traded company.        (c)   For the 12 months after you leave the company, whatever the reason, you will  not,  directly  or  indirectly,  as  a  self-employed  person  whether  as  owner,   co-venturer  or  otherwise,  compete  with  your  Employer,  the  Company  or  any  of  its  Subsidiaries  in  any  geographic  area  in  which  it  or they  do  business,  or  undertake  any  planning for  any  business                                                                                 35                                             

 

   competitive  with  the  business  of  your  Employer,  the  Company  or  any  of its  Subsidiaries,  this  area  being  in  any  case  limited  to  the  Grand-Duchy  of  Luxembourg.   Specifically,  but  without  limiting the foregoing, you agree not to engage in any manner as a self-employed person in any  activity  that  is  directly  or  indirectly  competitive  or  potentially  competitive  with  the  business  of  your Employer, the Company or any of its Subsidiaries as conducted or under consideration at  any  time  during  your Employment.  The  foregoing,  however,  shall  not  prevent  your  passive  ownership of two percent (2%) or less of the equity securities of any publicly traded company.        3.    Definitions.  For the purpose of this Countries Addendum, the following terms  are defined as follows:          (a)   “Client” means a present or former customer or client of the Company or any of  its Subsidiaries with whom you have had, or with whom persons you have supervised have had,  substantive and recurring personal contact during your Employment with the Company or any of  its Subsidiaries.  A former customer or client means a customer or client for which the Company  or any of its Subsidiaries stopped providing all services within twelve months prior to the date  your Employment with your Employer ends.          (b)   “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an  association, a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other  than  your Employer, the Company or any of its Subsidiaries.        (c)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common  control with the Company, including direct and indirect subsidiaries.        4.    Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with the Company and its Subsidiaries, you will reasonably cooperate with the  Company or the relevant Subsidiary with respect to any matters arising during or related to your  Employment,  including  but  not  limited  to  reasonable  cooperation  in  connection  with  any  litigation, governmental investigation, or regulatory or other proceeding (even if such litigation,  governmental  investigation,  or regulatory  or  other  proceeding  arises following  the  date  of this  Award  to  which this  Countries  Addendum is  appended  or  following  the  termination  of  your  Employment).  The Company or any of its Subsidiaries shall reimburse you for any reasonable  out-of-pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation.        5.    Enforcement.  You acknowledge and agree that the promises contained in this  Countries Addendum are necessary to the protection of the legitimate business interests of your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  confidential  information,  trade  secrets  and  good  will,  and  are  material  and  integral  to  the  undertakings of the Company under this Award to which this Countries Addendum is appended.   You further agree that one or more of your Employer, the Company and its Subsidiaries will be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific terms or otherwise breach the promises made herein.  Accordingly, your Employer, the  Company  and  any  of  its  Subsidiaries  shall  each  be  entitled  to  preliminary  or  permanent  injunctive or other equitable relief or remedy without the need to post bond, and to recover its or  their reasonable attorney’s fees and costs incurred in securing such relief, in addition to, and not  in  lieu  of,  any  other  relief  or  remedy  at  law  to  which  it  or  they  may  be  entitled,  including  the  immediate forfeiture of any as-yet unvested portion of the Award.         6.    No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries  in exercising any right under this Countries Addendum shall operate as a waiver of that right or  of any other right.  Any waiver or consent as to any of the provisions herein provided by your                                                                                 36                                             

 

   Employer,  the  Company  or  any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance, and may not be construed as a broader waiver of rights or as a bar to enforcement of  the provision(s) at issue on any other occasion.        7.    Relationship  to  Other  Agreements.   This  Addendum  supplements  and  does  not  limit,  amend  or  replace  any  other  obligations  you  may  have  under  applicable  law  or  any  other agreement or understanding you may have with your Employer, the Company or any of its  Subsidiaries  or  pursuant  to the  applicable  policies  of  any  of  them,  whether  such  additional  obligations have been agreed to in the past, or are agreed to in the future.        8.    Interpretation  of  Business  Protections.  The  agreements  made  by  you  in  Paragraphs  1  and  2  above  shall  be  construed and  interpreted  in  any  judicial  or  other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by law,  and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently  enforceable without reference to the enforcement of any other provision.  If any restriction set  forth  in this  Countries  Addendum is  found  by  any  court  of  competent  jurisdiction  to  be  unenforceable  because  it  extends  for  too  long  a  period  of  time  or  over  too  great  a  range  of  activities  or  in too  broad  a  geographic  area,  it  shall  be  interpreted  to  extend  only  over  the  maximum  period  of  time,  range  of  activities  or  geographic  area  as  to  which  it  may  be  enforceable.        9.    Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum  shall be binding upon and inure to the benefit of both parties and their respective successors  and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal  and may  not  be  assigned  by  you.         10.   Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will  be  deemed to have acknowledged and agreed that you are bound by the terms of this Countries  Addendum, and it shall be deemed to have been accepted by the Company.        11.   Notification  Requirement.  Until  45  days  after  the  period  of  restriction  under  Paragraph 2 expires, you shall give notice to the Company of each new business activity you  plan to undertake, at least 5 business days prior to beginning any such activity.  Such notice  shall state the name and address of the Person for whom such activity is undertaken and the  nature of your business relationship(s) and position(s) with such Person.  You shall provide the  Company  with  such  other  pertinent  information  concerning  such  business  activity  as  the  Company may reasonably request in order to determine your continued compliance with your  obligations under this Countries Addendum.        12.   Certain Limitations        (a)   Nothing this Countries Addendum prohibits you from reporting possible violations  of federal law or regulation to any governmental agency or regulatory authority or from making  other  disclosures  that  are  protected  under  the  whistleblower  provisions  of  federal  law  or  regulation.  Moreover, nothing in this Countries Addendum requires you to notify the Company  that  you  have  made  any  such  report  or  disclosure.   However,  in  connection  with  any  such  activity, you acknowledge you must take reasonable precautions to ensure that any confidential  information  that  is  disclosed  to  such  authority is  not  made  generally  available  to  the  public,  including by informing such authority of the confidentiality of the same.        (b)   Despite  the  foregoing,  you  also  acknowledge  that  you  are  not  permitted  to  disclose to any third-party, including any governmental or regulatory authority, any information                                                                                  37                                             

 

   learned in the course of your Employment that is protected from disclosure by any applicable  privilege, including but not limited to the attorney-client privilege, attorney work product doctrine,  and/or privileges applicable to information covered by the bank secrecy (Article 41 of the Law on  the financial sector dated April 5, 1993, as amended), including information that would reveal  the  existence  or  contemplated  filing  of  a  suspicious  activity  report.   Your  Employer,  the  Company and its Subsidiaries do not waive any applicable privileges or the right to continue to  protect  its  and  their  privileged  attorney-client  information,  attorney  work  product,  and  other  privileged information.                                    J.    NETHERLANDS  ____________________________________________________________________________          1.    Waiver of Termination Rights.  As a condition to the grant of this Award, you  hereby waive any and all rights to compensation or damages as a result of the termination of  Employment with the Company and the Subsidiary that employs you in the Netherlands for any  reason whatsoever, insofar as those rights result or may result from (a) the loss or diminution in  value of such rights or entitlements under the Plan, or (b) your ceasing to have rights under, or  ceasing to be entitled to any awards under the Plan as a result of such termination.                                          K.    POLAND  ____________________________________________________________________________                                           Kopię tej Umowy w języku polskim może Pan/Pani otrzymać wchodząc na Stronę.                                        L. UNITED KINGDOM  ____________________________________________________________________________          1.    Income  Tax  and  Social  Insurance  Contribution  Withholding.  Without  limitation to Section 7 of the Agreement, you hereby agree that you are liable for all Tax-Related  Items and hereby consent to pay all such Tax-Related Items, as and when requested by the  Company and or your Employer (if different) or by HM Revenue & Customs (“HMRC”) (or any  other  tax  authority  or  any  other  relevant  authority).   You  also  hereby  agree  to  indemnify  and  keep indemnified the Company and your Employer (if different) against any Tax-Related Items  that they are required to pay or withhold on your behalf or have paid or will pay to HMRC (or any  other tax authority or any other relevant authority).  Notwithstanding the foregoing, if you are a  director  or  executive  officer  of  the  Company  (within  the  meaning  of  Section  13(k)  of  the  Exchange  Act),  you  understand  that  you  may  not  be  able  to  indemnify  the  Company  for  the  amount of any income tax not collected from or paid by you within ninety (90) days of the end of  the U.K. tax year in which the event giving rise to the Tax-Related Items occurs as it may be  considered  to  be  a  loan  and  therefore,  it  may  constitute  a  benefit  to  you  on  which  additional  income tax and National Insurance contributions (“NICs”) may be payable. You understand that  you will be responsible for reporting and paying any income tax due on this additional benefit                                                                                 38                                             

 

   directly to HMRC under the self-assessment regime and for paying to the Company and/or your  Employer  (as  appropriate)  the  amount  of  any  NICs  due  on  this  additional  benefit,  which  may  also be recovered from you by any of the means referred to in Section 7 of the Agreement.    2.    Exclusion of Claim.  You acknowledge and agree that you will have no entitlement to  compensation or damages insofar as such entitlement arises or may arise from your ceasing to  have rights under or to be entitled to the Award, whether or not as a result of such termination,  (whether such termination is in breach of contract or otherwise), or from the loss or diminution in  value of the Award.  Upon the grant of your Award, you shall be deemed irrevocably to have  waived any such entitlement.    3.    Notice and Non-Compete. In consideration of your receipt of this Award, you expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount has been forfeited, paid, delivered or repaid, under this Award at any time, including the  time you separate from service with your Employer, the Company and its Subsidiaries.  It is a  condition of this Award that, if you fail to comply with the terms and conditions below, then the  Company may in its absolute discretion determine that any or all of the amounts remaining to be  paid under this Award should be forfeited.  All terms used herein shall have the meaning given to them in the Plan or the Award, except as  otherwise expressly provided herein.        (a)   Notice Period Upon Resignation.          (i)   In order to permit the Company and its Subsidiaries to safeguard their business        interests and goodwill in the event of your resignation from Employment for any reason,        you agree to give your Employer advance notice of your resignation. The duration of the        advance notice you provide (the “Notice Period”) will be determined by your title at the        time you deliver such notice, as follows—              (1)   If  you  are  a  member  of  the  State  Street  Corporation  Management              Committee, you will give 180 days’ advance notice; and              (2)   If you are an Executive Vice President or higher, you  will give 90 days’              advance notice.              For  the  avoidance  of  doubt,  the  Notice  Periods  set  out  above  shall  be  subject              always to any contractual obligation you have to give a longer period of notice of              termination  of  your Employment (whether  such  obligation  is  contained  in  your              contract of Employment or any other agreement to which you are a party).        (ii)  During the Notice Period, you will cooperate with your Employer, as well as the        Company  and  its  Subsidiaries,  and  provide them  with  any  requested  information  to        assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or        preserving its or their client relationships. In its sole discretion, during the Notice Period,        your Employer or the Company may place you on a partial or complete leave of absence        and relieve you of some or all of your duties and responsibilities.  Except as provided        otherwise in (iii) below, at all times during the Notice Period you shall continue to be an        employee of your Employer, shall continue to receive  your regular salary and benefits         and  you  will  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the        Company,  and  its  Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive        compensation awards made on or after the first day of the Notice Period or to accrue        any vacation save as required by statute.                                                                                 39                                             

 

                     (iii) In its sole discretion, at any time during the Notice Period, the Company or your       Employer  may  release  you  from  your  obligations  under  this  Paragraph  (a) by  giving       immediate effect to your resignation and making a payment of basic salary in lieu of any       notice  due;  provided  that  such  action  shall  not  affect  your  other  obligations  under this       Countries Addendum.         (b)   Non-Competition.       (i)   This  Paragraph  (b) shall  apply  to  you  at  any  time  that  you  hold  the  title  of       Executive  Vice  President  or  higher and  following  the  termination  of  your  Employment       where you held the title of Executive Vice President or higher immediately prior to such       termination.       (ii)  During your Employment and for the 12 months following its termination for any       reason,  you  will  not  within  the  Restricted  Territory,  directly  or  indirectly,  whether  as       owner, director, partner, investor, consultant, agent, employee, co-venturer or otherwise       and whether alone or in conjunction with or on behalf of any other person:             (1)   become  engaged,  employed,  concerned  or  interested  in  or  provide             technical,  commercial  or  professional  advice  to,  any  Person  which  supplies  or             provides  (or  intends  to  supply  or  provide)  Products  or  Services  in  competition             with such parts of the business of the Employer or any Relevant Group Company             with  which  you  were  materially  engaged  or  involved  or  for  which  you  were             responsible during the Relevant Period;             (2)   compete  with  your  Employer  or  any  Relevant  Group  Company,  or             undertake any planning for any business competitive  with the business  of your             Employer or any Relevant Group Company;             (3)   engage  in  any  manner  in  any  activity  that  is  directly  or  indirectly             competitive or potentially competitive with the business of your Employer, or any             Relevant  Group  Company  as  conducted  or  under  consideration  during  the             Relevant  Period  and  further  agree  not  to  work  or  provide  services,  in  any             capacity, whether as an employee, independent contractor or otherwise, whether             with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business             that  is  competitive  with  the  business  of  your  Employer  or  any  Relevant  Group             Company, as conducted or in planning during the Relevant Period.        (iii) The period of 12 months referred to in Paragraph (b)(ii) above will be reduced by       one day for every day during which, at the Employer’s direction, you are on a complete       leave of absence pursuant to Paragraph 3(a)(ii) above.       (iv)  Nothing  in  this  Paragraph  (b)  shall  prevent  your  ownership for  investment       purposes only of shares or other securities of two percent (2%) or less of the total issued       capital of any company whether or not its securities are publicly traded.       (c)   Definitions.  For the purpose of this Countries Addendum, the following terms  are defined as follows:         (i)   “Client”  means  a  customer  or  client  of  the  Company  or  any  of  its  Subsidiaries       with  whom  you  have  had,  or  with  whom  persons  you  have  supervised  have  had,       substantive and recurring personal contact during the Relevant Period.         (ii)  “Products  or  Services” means  any  products  or services  which  are  of the  same       kind  as,  of  a  materially  similar  kind  to,  or  competitive  with,  any  products  or  services                                                                               40                                                         

 

                     supplied or provided by your Employer or Relevant Group Company and with which you       were materially concerned or connected within the Relevant Period.       (iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an       association, a partnership, a limited liability partnership, an estate, a trust and any other       entity or organization (whether conducted on its own or as part of a wider entity), other       than your Employer, the Company or any of its Subsidiaries.       (iv)  “Relevant  Group  Company”  means  the  Company  and/or  any  Subsidiaries  for       which you have performed services or in respect of which you have had operational or       managerial responsibility at any time during the Relevant Period.       (v)    “Relevant Period” means the period of 24 months immediately before the date of       termination  of  your Employment,  or  (where  such  provision  is  applied)  the  date  of       commencement  of  any  period  of  complete  leave  of  absence  pursuant  to Paragraph       3(a)(ii).       (vi)  “Restricted Territory” means any area or territory:             (1)   in which you worked during the Relevant Period; and/or             (2)   in relation to which you were responsible for, or materially involved in, the             supply of Products or Services in the Relevant Period.       (vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common       control with the Company, including direct and indirect subsidiaries.       (d)   Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with the Company and its Subsidiaries, you will reasonably cooperate with  the Company or the relevant Subsidiary with respect to any matters arising during or related to  your Employment, including but not limited to reasonable cooperation in connection with any  litigation, governmental investigation, or regulatory or other proceeding (even if such litigation,  governmental investigation, or regulatory or other proceeding arises following the date of this  Award  to  which this  Countries  Addendum is  appended  or  following  the  termination  of  your  Employment).  The Company or any of its Subsidiaries shall reimburse you for any reasonable  out-of-pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation.       (e)   Enforcement.  You acknowledge and agree that the promises contained in this  Countries  Addendum are  necessary  to  the  protection  of  the  legitimate business  interests of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  confidential  information,  trade  secrets  and  goodwill,  and  are  material  and  integral  to  the  undertakings  of  the  Company  under  this  Award  to  which this  Countries  Addendum is  appended.   You  further  agree  that  one  or  more  of  your  employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly, your Employer, the Company and any of its Subsidiaries shall each be entitled to  preliminary  or  permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post bond, and to recover its or their reasonable attorney’s fees and costs incurred in securing  such relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or they  may  be  entitled,  including  the  immediate  forfeiture  of  any  as-yet  unvested  portion  of  the  Award. You further agree that, the periods of restriction contained in this Countries Addendum  shall be tolled, and shall not run, during any period in which you are in violation of the terms of  this  Countries  Addendum,  so  that  your  Employer,  the  Company  and  its  Subsidiaries  shall                                                                               41                                                         

 

    have the full protection of the periods agreed to herein.        (f)   No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries   in exercising any right under this Countries Addendum shall operate as a waiver of that right   or of any other right.  Any waiver or consent as to any of the provisions herein provided by   your Employer, the Company or any of its Subsidiaries must be in writing, is effective only in   that  instance, and  may  not  be  construed  as  a  broader  waiver  of  rights  or  as  a  bar  to   enforcement of the provision(s) at issue on any other occasion.        (g)   Relationship  to  Other  Agreements.   This  Addendum  supplements  and  does   not limit, amend or replace any other obligations you may have under applicable law or any   other agreement or understanding you may have with your Employer, the Company or any of   its Subsidiaries or pursuant to the applicable policies of any of them, whether such additional   obligations have been agreed to in the past, or are agreed to in the future.        (h)   Interpretation  of  Business  Protections.  The  agreements  made  by  you  in   Paragraphs  (a)  and  (b)  above  shall  be  construed  and  interpreted  in  any  judicial  or  other   adjudicatory proceeding to permit their enforcement to the maximum extent permitted by law,   and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently   enforceable without reference to the enforcement of any other provision.  If any restriction set   forth  in this  Countries Addendum is  found  by  any  court  of  competent  jurisdiction  to  be   unenforceable because it extends for too long a period of time or over too great a range of   activities  or  in  too  broad  a  geographic  area,  it  shall  be  interpreted  to  extend  only  over  the   maximum  period  of  time,  range  of  activities  or  geographic  area  as  to  which  it  may  be   enforceable.        (i)   Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum   shall be binding upon and inure to the benefit of both parties and their respective successors   and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or   business; provided, however, that your obligations are personal and may not be assigned by   you.         (j)   Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will  be   deemed to have acknowledged and agreed that you are bound by the terms of this Countries   Addendum, and it shall be deemed to have been accepted by the Company.             (k)        Notification Requirement.  Until 45 days after the period of restriction under this  Paragraph 3 (b) expires, you shall give notice to the Company of each new business activity you  plan to undertake, at least 5 business days prior to beginning any such activity.  Such notice  shall state the name and address of the Person for whom such activity is undertaken and the  nature of your business relationship(s) and position(s) with such Person.  You shall provide the  Company with such other pertinent information concerning such business activity as the  Company may reasonably request in order to determine your continued compliance with your  obligations under this Countries Addendum.        (l)   Certain Limitations        (i)   Nothing this Countries Addendum prohibits you from reporting possible violations        of law or regulation to any governmental agency or regulatory authority or from making        other  disclosures  that  are  protected  under  the  whistleblower  provisions  of  law  or        regulation.   Moreover,  nothing  in this  Countries  Addendum requires  you  to  notify  the        Company that you have made any such report or disclosure.  However, in connection        with  any  such  activity,  you  acknowledge  you  must  take  reasonable  precautions  to        ensure that any confidential information that is disclosed to such authority is not made                                                                                 42                                             

 

                generally  available  to  the  public,  including  by  informing  such  authority  of  the  confidentiality of the same.  (ii)  Despite  the  foregoing,  you  also  acknowledge  that  you  are  not  permitted  to  disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any  information learned in the course of your Employment that is protected from disclosure  by  any  applicable  privilege,  including  but  not  limited  to  the  attorney-client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,  and/or  privileges  applicable to information covered by the Bank Secrecy Act (31 U.S.C. §§ 5311-5330),  including  information  that  would  reveal  the  existence  or  contemplated  filing  of  a  suspicious  activity  report.   Your  Employer,  the  Company  and  its  Subsidiaries  do  not  waive any applicable privileges or the right to continue to protect its and their privileged  attorney-client information, attorney work product, and other privileged information.                                                      *          *          *         *         *                                                                                                     43exhibit103statestreet201

                           STATE STREET CORPORATION                            2017 STOCK INCENTIVE PLAN   1.    Purpose   The purpose of this 2017 Stock Incentive Plan (the “Plan”) of State Street Corporation, a  Massachusetts corporation (the “Company”), is to advance the interests of the Company’s  shareholders by enhancing the Company’s ability to attract, retain and motivate persons who are  expected to make important contributions to the Company and by providing such persons with  equity ownership opportunities and performance-based incentives that are intended to better  align the interests of such persons with those of the Company’s shareholders.  Except where the  context otherwise requires, the term “Company” shall include any of the Company’s present or  future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal  Revenue Code of 1986, as amended, and any regulations thereunder (the “Code”) and any other  business venture (including, without limitation, joint venture or limited liability company) in  which the Company has a controlling interest, as determined by the Board of Directors of the  Company (the “Board”).   2.    Eligibility         All of the Company’s employees, officers and directors, as well as consultants and  advisors to the Company (as the terms consultants and advisors are defined and interpreted for  purposes of Form S-8 under the Securities Act of 1933, as amended (the “Securities Act”), or  any successor form) are eligible to be granted Awards (as defined below) under the Plan.  Each  person who is granted an Award under the Plan is deemed a “Participant.”  The Plan provides  for the following types of awards, each of which is referred to as an “Award”:  Options (as  defined in Section 5), SARs (as defined in Section 6), Restricted Stock (as defined in Section 7),  RSUs (as defined in Section 7) and Other Stock-Based Awards (as defined in Section 8).  Except  as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to  any other Award.  The terms of each Award need not be identical, and the Board need not treat  Participants uniformly.     3.    Administration and Delegation         (a)   Administration by Board of Directors.  The Plan will be administered by the  Board.  The Board shall have authority to grant Awards and to adopt, amend and repeal such  administrative rules, guidelines and practices relating to the Plan as it shall deem advisable.  The  Board may construe and interpret the terms of the Plan and any Award agreements entered into  under the Plan.  The Board may correct any defect, supply any omission or reconcile any  inconsistency in the Plan or any Award.  All actions and decisions by the Board with respect to  the Plan and any Awards shall be made in the Board’s discretion and shall be final and binding  on all persons having or claiming any interest in the Plan or in any Award.      

 

      (b)   Appointment of Committees.  To the extent permitted by applicable law, the  Board may delegate any or all of its powers under the Plan to one or more committees or  subcommittees of the Board (a “Committee”).  All references in the Plan to the “Board” shall  mean the Board or a Committee of the Board to the extent that the Board’s powers or authority  under the Plan have been delegated to such Committee.  During such time as the common stock,  $1.00 par value per share, of the Company (the “Common Stock”) is registered under the  Securities Exchange Act of 1934 (the “Exchange Act”), the Board shall appoint one such  Committee of not less than two members, each member of which shall be an independent  director under applicable stock exchange rules, an “outside director” within the meaning of  Section 162(m) of the Code or any successor provision thereto, and the regulations thereunder  (“Section 162(m)”) and a “non-employee director” as defined in Rule 16b-3 under the Exchange  Act.         (c)   Delegation of Granting and Other Authority.  The Board or a Committee may  delegate to (1) one or more of its members such of its duties, powers and responsibilities as it  may determine; (2) to one or more officers of the Company the power and authority to grant or to  allocate, consistent with the requirements of Chapter 156D of the Massachusetts General Laws  and subject to such limitations under the Plan or as the Board or the Committee may impose,  Awards among such persons (other than to any “executive officer” of the Company (as defined  by Rule 3b-7 under the Exchange Act) or to any “officer” of the Company (as defined by Rule  16a-1(f) under the Exchange Act)) eligible to receive Awards under the Plan as such delegated  member or members of the Board or the Committee or officer or officers of the Company  determine consistent with such delegation; and (3) to such employees or other persons as it  determines such ministerial tasks as it deems appropriate.  In the event of any delegation  described in the preceding sentence, references in the Plan to the “Board” shall mean the  delegate to the extent that the Board’s powers or authority under the Plan have been delegated to  such person.         (d)   Awards to Non-Employee Directors.  Awards to non-employee directors will be  granted and administered by a Committee, all of the members of which are independent directors  as defined by Section 303A.02 of the New York Stock Exchange Listed Company Manual.    4.    Stock Available for Awards        (a)   Number of Shares; Share Counting.               (1)   Authorized Number of Shares.  Awards may be made under the Plan (any  or all of which Awards may be in the form of Incentive Stock Options (as defined in Section  5(b)) for such number of shares of Common Stock as is equal to the sum of:               (A) 8,300,000 shares of Common Stock; plus               (B)  such additional number of shares of Common Stock (up to 28,500,000              shares) as is equal to the sum of (x) the number of shares of Common Stock              reserved for issuance under the Company’s 2006 Equity Incentive Plan, as              amended (the “Existing Plan”) that remain available for grant under the Existing              Plan immediately prior to the Company’s 2017 Annual Meeting of Shareholders                                       -2-  

 

            and (y) the number of shares of Common Stock subject to awards granted under              the Existing Plan which awards expire, terminate or are otherwise surrendered,              canceled, forfeited or repurchased by the Company at their original issuance price              pursuant to a contractual repurchase right (subject, however, in the case of              Incentive Stock Options to any limitations of the Code).     Shares of Common Stock issued under the Plan may consist in whole or in part of authorized but  unissued shares or treasury shares.                (2)   Share Counting.  For purposes of counting the number of shares available  for the grant of Awards under the Plan under this Section 4(a) and under the sublimits contained  in Section 4(b)(2):                      (A)   all shares of Common Stock covered by SARs shall be counted  against the number of shares available for the grant of Awards under the Plan and against the  sublimits contained in Section 4(b)(2);  provided, however, that (i) SARs that may be settled only  in cash shall not be so counted and (ii) if the Company grants an SAR in tandem with an Option  for the same number of shares of Common Stock and provides that only one such Award may be  exercised (a “Tandem SAR”), only the shares covered by the Option, and not the shares covered  by the Tandem SAR, shall be so counted, and the expiration of one in connection with the  other’s exercise will not restore shares to the Plan;                      (B)   if any Award (i) expires or is terminated, surrendered or canceled  without having been fully exercised or is forfeited in whole or in part (including as the result of  shares of Common Stock subject to such Award being repurchased by the Company at the  original issuance price pursuant to a contractual repurchase right), or (ii) results in any Common  Stock not being issued (including as result of an SAR that was settleable either in cash or in  stock actually being settled in cash), the unused Common Stock covered by such Award shall  again be available for the grant of Awards.  Further, shares of Common Stock delivered (either  by actual delivery, attestation or net exercise) to the Company by a Participant to exercise an  Award or to satisfy any tax withholding obligations in accordance with Section 11(d) (including  shares retained from the Award creating the tax obligation) shall be added back to the number of  shares of Common Stock available for the future grant of Awards, provided that no more than  the number of shares used to satisfy the statutory minimum tax withholding obligation shall be  added back to the Plan pursuant to this section 4(a)(2)(B). However, (1) in the case of Incentive  Stock Options, the foregoing shall be subject to any limitations under the Code, (2) in the case of  the exercise of an SAR, the number of shares counted against the shares available under the Plan  and against the sublimits contained in Section 4(b)(2) shall be the full number of shares subject  to the SAR multiplied by the percentage of the SAR actually exercised, regardless of the number  of shares actually used to settle such SAR upon exercise and (3) the shares covered by a Tandem  SAR shall not again become available for grant upon the expiration or termination of such  Tandem SAR; and                      (C)   shares of Common Stock repurchased by the Company on the open  market using the proceeds from the exercise of an Award shall not increase the number of shares  available for future grant of Awards.                                        -3-  

 

      (b)   Sublimits.  Subject to adjustment under Section 10, the following sublimits on the  number of shares subject to Awards shall apply:               (1)   Section 162(m) Per-Participant Limits.  The maximum number of shares  of Common Stock with respect to which Options may be granted to any person in any calendar  year and the maximum number of shares of Common Stock subject to SARs granted to any  person in any calendar year shall each be 2,000,000, and the maximum number of shares of  Common Stock subject to other Awards granted to any person in any calendar year shall be  2,000,000.  The per-Participant limits described in this Section 4(b)(1) shall be construed and  applied consistently with Section 162(m).                (2)    Limit Applicable to Non-Employee Directors.   In any calendar year, the   sum of cash compensation paid to any non-employee director for service as a director (“Director  Cash Compensation”) and the value of Awards under the Plan made to such non-employee  director (calculated based on the grant date fair value of such Awards for financial reporting  purposes) (“Director Equity Compensation”) shall not exceed $1,500,000.  The Board may  make exceptions to this limit for individual non-employee directors in extraordinary  circumstances, as the Committee may determine in its discretion, provided that the non- employee director receiving such additional compensation may not participate in the decision to  award such compensation.  For purposes of this Section 4(b)(2), Director Cash Compensation  and Director Equity Compensation in any calendar year shall include any amounts or grants that  would have been paid or made, as applicable, to a particular non-employee director absent such  director’s election to defer such compensation pursuant to any arrangement or plan of the  Company permitting deferral of such compensation.         (c)   Substitute Awards.  In connection with a merger or consolidation of an entity with  the Company or the acquisition by the Company of property or stock of an entity, the Board may  grant Awards in substitution for any options or other stock or stock-based awards granted by  such entity or an affiliate thereof.  Substitute Awards may be granted on such terms as the Board  deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in  the Plan.  Substitute Awards shall not count against the overall share limit set forth in Section  4(a)(1) or any sublimits contained in the Plan, except as may be required by reason of Section  422 and related provisions of the Code.   5.    Stock Options        (a)   General.  The Board may grant options to purchase Common Stock (each, an  “Option”) and determine the number of shares of Common Stock to be covered by each Option,  the exercise price of each Option and the conditions and limitations applicable to the exercise of  each Option, including conditions relating to applicable federal or state securities laws, as the  Board considers necessary or advisable.           (b)   Incentive Stock Options.  An Option that the Board intends to be an “incentive  stock option” as defined in Section 422 of the Code (an “Incentive Stock Option”) shall only be  granted to employees of State Street Corporation, any of State Street Corporation’s present or  future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any  other entities the employees of which are eligible to receive Incentive Stock Options under the                                       -4-  

 

Code, and shall be subject to and shall be construed consistently with the requirements of Section  422 of the Code.  An Option that is not intended to be an Incentive Stock Option shall be  designated a “Nonstatutory Stock Option.”  The Company shall have no liability to a Participant,  or any other person, if an Option (or any part thereof) that is intended to be an Incentive Stock  Option is not an Incentive Stock Option or if the Company converts an Incentive Stock Option to  a Nonstatutory Stock Option.         (c)   Exercise Price.  The Board shall establish the exercise price of each Option or the  formula by which such exercise price will be determined.  The exercise price shall be specified  in the applicable Option agreement. The exercise price shall not be less than 100% of the Grant  Date Fair Market Value (as defined below) of the Common Stock on the date the Option is  granted; provided that if the Board approves the grant of an Option with an exercise price to be  determined on a future date, the exercise price shall be not less than 100% of the Grant Date Fair  Market Value on such future date.  “Grant Date Fair Market Value” of a share of Common  Stock for purposes of the Plan will be determined as follows:               (1)   if the Common Stock trades on a national securities exchange, the closing  sale price (for the primary trading session) on the date of grant; or               (2)   if the Common Stock does not trade on any such exchange, the average of  the closing bid and asked prices as reported by an authorized OTCBB market data vendor as  listed on the OTCBB website (otcbb.com) on the date of grant; or               (3)   if the Common Stock is not publicly traded, the Board will determine the  Grant Date Fair Market Value for purposes of the Plan using any measure of value it determines  to be appropriate (including, as it considers appropriate, relying on appraisals) in a manner  consistent with the valuation principles under Code Section 409A, except as the Board may  expressly determine otherwise.   For any date that is not a trading day, the Grant Date Fair Market Value of a share of Common  Stock for such date will be determined by using the closing sale price or average of the bid and  asked prices, as appropriate, for the immediately preceding trading day and with the timing in the  formulas above adjusted accordingly.  The Board can substitute a particular time of day or other  measure of “closing sale price” or “bid and asked prices” if appropriate because of exchange or  market procedures or can, in its sole discretion, use weighted averages either on a daily basis or  such longer period as complies with Code Section 409A.   The Board has sole discretion to determine the Grant Date Fair Market Value for purposes of the  Plan, and all Awards are conditioned on the participants’ agreement that the Board’s  determination is conclusive and binding even though others might make a different  determination.         (d)   Duration of Options.  Subject to the provisions of the Plan, each Option shall be  exercisable at such times and subject to such terms and conditions as the Board may specify in  the applicable Option agreement; provided, however, that no Option will be granted with a term  in excess of 10 years.                                        -5-  

 

      (e)   Exercise of Options.  Options may be exercised by delivery to the Company of a  notice of exercise in a form (which may be electronic) approved by the Company, together with  payment in full (in the manner specified in Section 5(f)) of the exercise price for the number of  shares for which the Option is exercised.  Shares of Common Stock subject to the Option will be  delivered by the Company as soon as practicable following exercise.         (f)   Payment Upon Exercise.  Common Stock purchased upon the exercise of an  Option granted under the Plan shall be paid for as follows:               (1)   in cash or by check, payable to the order of the Company;               (2)   except as may otherwise be provided in the applicable Option agreement  or approved by the Board, by (i) delivery of an irrevocable and unconditional undertaking by a  creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise  price and any required tax withholding or (ii) delivery by the Participant to the Company of a  copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly  to the Company cash or a check sufficient to pay the exercise price and any required tax  withholding;               (3)   to the extent provided for in the applicable Option agreement or approved  by the Board, by delivery (either by actual delivery or attestation) of shares of Common Stock  owned by the Participant valued at their fair market value (valued in the manner determined by  (or in a manner approved by) the Board), provided (i) such method of payment is then permitted  under applicable law, (ii) such Common Stock, if acquired directly from the Company, was  owned by the Participant for such minimum period of time, if any, as may be established by the  Board and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled  vesting or other similar requirements;               (4)   to the extent provided for in the applicable Nonstatutory Stock Option  agreement or approved by the Board, by delivery of a notice of “net exercise” to the Company,  as a result of which the Participant would receive (i) the number of shares underlying the portion  of the Option being exercised, less (ii) such number of shares as is equal to (A) the aggregate  exercise price for the portion of the Option being exercised divided by (B) the fair market value  of the Common Stock (valued in the manner determined by (or in a manner approved by) the  Board) on the date of exercise;               (5)   to the extent permitted by applicable law and provided for in the  applicable Option agreement or approved by the Board, by payment of such other lawful  consideration as the Board may determine; or               (6)   by any combination of the above permitted forms of payment.         (g)   Limitation on Repricing.  Unless such action is approved by the Company’s  shareholders, the Company may not (except as provided for under Section 10):  (1) amend any  outstanding Option granted under the Plan to provide an exercise price per share that is lower  than the then-current exercise price per share of such outstanding Option, (2) cancel any  outstanding option (whether or not granted under the Plan) and grant in substitution therefor new                                        -6-  

 

Awards under the Plan (other than Awards granted pursuant to Section 4(c)) covering the same  or a different number of shares of Common Stock and having an exercise price per share lower  than the then-current exercise price per share of the canceled option, (3) cancel in exchange for a  cash payment any outstanding Option with an exercise price per share above the then-current fair  market value of the Common Stock (valued in the manner determined by (or in a manner  approved by) the Board), or (4) take any other action under the Plan that constitutes a “repricing”  within the meaning of the rules of the New York Stock Exchange.          (h)   No Reload Options.  No Option granted under the Plan shall contain any  provision entitling the Participant to the automatic grant of additional Options in connection with  any exercise of the original Option.   6.    Stock Appreciation Rights        (a)   General.  The Board may grant Awards consisting of stock appreciation rights  (“SARs”) entitling the holder, upon exercise, to receive an amount of Common Stock or cash or  a combination thereof (such form to be determined by the Board) determined by reference to  appreciation, from and after the date of grant, in the fair market value of a share of Common  Stock (valued in the manner determined by (or in a manner approved by) the Board) over the  measurement price established pursuant to Section 6(b).  The date as of which such appreciation  is determined shall be the exercise date.           (b)   Measurement Price.  The Board shall establish the measurement price of each  SAR and specify it in the applicable SAR agreement.  The measurement price shall not be less  than 100% of the Grant Date Fair Market Value of the Common Stock on the date the SAR is  granted; provided that if the Board approves the grant of an SAR effective as of a future date, the  measurement price shall be not less than 100% of the Grant Date Fair Market Value on such  future date.         (c)   Duration of SARs. Subject to the provisions of the Plan, each SAR shall be  exercisable at such times and subject to such terms and conditions as the Board may specify in  the applicable SAR agreement; provided, however, that no SAR will be granted with a term in  excess of 10 years.         (d)   Exercise of SARs.  SARs may be exercised by delivery to the Company of a  notice of exercise in a form (which may be electronic) approved by the Company, together with  any other documents required by the Board.         (e)   Limitation on Repricing.  Unless such action is approved by the Company’s  shareholders, the Company may not (except as provided for under Section 10):  (1) amend any  outstanding SAR granted under the Plan to provide a measurement price per share that is lower  than the then-current measurement price per share of such outstanding SAR, (2) cancel any  outstanding SAR (whether or not granted under the Plan) and grant in substitution therefor new  Awards under the Plan (other than Awards granted pursuant to Section 4(c)) covering the same  or a different number of shares of Common Stock and having a measurement price per share  lower than the then-current measurement price per share of the cancelled SAR, (3) cancel in  exchange for a cash payment any outstanding SAR with a measurement price per share above the                                       -7-  

 

then-current fair market value of the Common Stock (valued in the manner determined by (or in  a manner approved by) the Board), or (4) take any other action under the Plan that constitutes a  “repricing” within the meaning of the rules of the NYSE.         (f)   No Reload SARs.  No SAR granted under the Plan shall contain any provision  entitling the Participant to the automatic grant of additional SARs in connection with any  exercise of the original SAR.    7.    Restricted Stock; RSUs        (a)   General.  The Board may grant Awards entitling recipients to acquire shares of  Common Stock (“Restricted Stock”), subject to the right of the Company to repurchase all or  part of such shares at their issue price or other stated or formula price (or to require forfeiture of  such shares if issued at no cost) from the recipient in the event that conditions specified by the  Board in the applicable Award are not satisfied prior to the end of the applicable restriction  period or periods established by the Board for such Award.  The Board may also grant Awards  entitling the recipient to receive shares of Common Stock or cash to be delivered at the time such  Award vests or is settled by the Company (“RSUs”).         (b)   Terms and Conditions for Restricted Stock and RSUs.  Subject to the provisions  of the Plan, the Board shall determine the terms and conditions of Restricted Stock and RSUs,  including the conditions for vesting and repurchase (or forfeiture) and the issue price, if any.           (c)   Stock Certificates; Dividends.  The Company may require that any stock  certificates issued in respect of shares of Restricted Stock, as well as dividends or distributions  paid on such Restricted Stock, shall be deposited in escrow by the Participant, together with a  stock power endorsed in blank, with the Company (or its designee).  At the expiration of the  applicable vesting, forfeiture and / or restriction periods, the Company (or such designee) shall  deliver the certificates no longer subject to such restrictions as well as any dividends or other  distributions to the Participant or if the Participant has died, to his or her Designated Beneficiary.   “Designated Beneficiary” means (i) the beneficiary designated, in a manner determined by the  Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of  the Participant’s death or (ii) in the absence of an effective designation by a Participant, the  Participant’s estate.         (d)   Additional Provisions Relating to RSUs.               (1)   Settlement.  Upon the vesting of and/or lapsing of any other restrictions  (i.e., settlement) with respect to each RSU, the Participant shall be entitled to receive from the  Company the number of shares of Common Stock specified in the Award agreement or (if so  provided in the applicable Award agreement or otherwise determined by the Board) an amount  of cash equal to the fair market value (valued in the manner determined by (or in a manner  approved by) the Board) of such number of shares or a combination thereof.  The Board may  provide that settlement of RSUs shall be deferred, on a mandatory basis or at the election of the  Participant, in a manner that complies with Section 409A of the Code or any successor provision  thereto, and the regulations thereunder (“Section 409A”).                                        -8-  

 

            (2)   Voting Rights.  A Participant shall have no voting rights with respect to  any RSUs.   8.    Other Stock-Based Awards        (a)   General.  The Board may grant other Awards of shares of Common Stock, and  other Awards that are valued in whole or in part by reference to, or are otherwise based on,  shares of Common Stock or other property (“Other Stock-Based Awards”).  Such Other Stock- Based Awards shall also be available as a form of payment in the settlement of other Awards  granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise  entitled.  Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the  Board shall determine.          (b)   Terms and Conditions.  Subject to the provisions of the Plan, the Board shall  determine the terms and conditions of each Other Stock-Based Award, including any purchase  price applicable thereto.     9.    Performance Awards.        (a)   Grants.  Restricted Stock, RSUs and Other Stock-Based Awards under the Plan  may be made subject to the achievement of performance goals pursuant to this Section 9  (“Performance Awards”).           (b)   Committee.  Grants of Performance Awards to any Covered Employee (as defined  below) intended to qualify as “performance-based compensation” under Section 162(m)  (“Performance-Based Compensation”) shall be made only by a Committee (or a subcommittee  of a Committee) comprised solely of two or more directors eligible to serve on a committee  making Awards qualifying as “performance-based compensation” under Section 162(m).  In the  case of such Awards granted to Covered Employees, references to the Board or to a Committee  shall be treated as referring to such Committee (or subcommittee).  “Covered Employee” shall  mean any person who is, or whom the Committee, in its discretion, determines may be, a  “covered employee” under Section 162(m)(3) of the Code.         (c)   Performance Measures.  For any Award that is intended to qualify as  Performance-Based Compensation, the Committee shall specify that the degree of granting,  vesting and/or payout shall be subject to the achievement of one or more objective performance  measures established by the Committee, which shall be based on the relative or absolute  attainment of specified levels of one or any combination of the following, which may be  determined pursuant to generally accepted accounting principles (“GAAP”) or on a non-GAAP  basis, as determined by the Committee (the “Performance Measures”):         i) earnings or earnings per share     xii) risk control       ii) return on equity                  xiii) expense       iii) return on assets                 xiv) operating leverage       iv) return on capital                 xv) operating fee leverage       v) cost of capital                    xvi) capital ratios       vi) total stockholder return           xvii) liquidity ratios                                       -9-  

 

      vii) revenue                          xviii) income       viii) market share                    xix) comprehensive capital analysis and       ix) quality/service                   review (CCAR)        x) organizational development         xx) other regulatory-related metric       xi) strategic initiatives (including acquisitions        or dispositions)   Such goals may reflect absolute entity or business unit performance or a relative comparison to  the performance of a peer group of entities or other external measure of the selected performance  criteria and may be absolute in their terms or measured against or in relationship to other  companies comparably, similarly or otherwise situated.  The Performance Measures:  (x) may  vary by Participant and may be different for different Awards; (y) may be particular to a  Participant or the department, branch, line of business, subsidiary or other unit in which the  Participant works and may cover such period as may be specified by the Committee; and (z)  shall be set by the Committee within the time period prescribed by, and shall otherwise comply  with the requirements of, Section 162(m).  Awards that are not intended to qualify as  Performance-Based Compensation may be based on these or such other performance measures as  the Board may determine.         (d)   Adjustments to Performance Measures.  The Committee may provide, no later  than the deadline for establishing the Performance Measures for a year, that one or more of the  Performance Measures applicable to an Award or Awards for such year will be adjusted in an  objectively determinable manner to reflect events (for example, but without limitation,  acquisitions, dispositions, joint ventures or restructurings, expenses associated with acquisitions,  dispositions, joint ventures or restructurings, amortization of purchased intangibles associated  with acquisitions, impact (dilution and expenses) of securities issuances (debt or equity) to  finance, or in contemplation of, acquisitions or ventures, merger and integration expenses,  changes in accounting principles or interpretations, changes in tax law or financial regulatory  law, impairment charges, fluctuations in foreign currency exchange rates, charges for  restructuring or rationalization programs (e.g., cost of workforce reductions, facilities or lease  abandonments, asset impairments), one-time insurance claims payments, extraordinary and/or  non-recurring items, litigation, regulatory matter or tax rate changes) occurring during the year  that affect the applicable Performance Measure.         (e)   Adjustments to Performance-Based Compensation.  Notwithstanding any  provision of the Plan, with respect to any Performance Award that is intended to qualify as  Performance-Based Compensation, the Committee may adjust downwards, but not upwards, the  number of shares payable pursuant to such Award, and the Committee may not waive the  achievement of the applicable performance measures except in the case of the death or disability  of the Participant or a change in control of the Company.         (f)   Other.  The Committee shall have the power to impose such other restrictions on  Performance Awards as it may deem necessary or appropriate to ensure that such Awards satisfy  all requirements for Performance-Based Compensation.  With respect to any Performance Award  that is intended to qualify as Performance-Based Compensation, the Plan and such Award will be  construed to the maximum extent permitted by law in a manner consistent with qualifying such  Award for such exception.  With respect to such Performance Awards, the Committee will                                       -10-  

 

preestablish, in writing, one or more specific performance measures no later than 90 days after  the commencement of the period of service to which the performance relates (or at such earlier  time as is required to qualify the Performance Award as Performance-Based Compensation).   Prior to grant, vesting or payment of such Performance Award, as the case may be, the  Committee will certify whether the applicable performance measures have been attained and  such determination will be final and conclusive. No Performance Award that is intended to  qualify as Performance-Based Compensation may be granted after the first meeting of the  shareholders of the Company held in 2022 until the performance measures set forth in Section  9(c) (as originally approved or as subsequently amended) have been resubmitted to and  reapproved by the shareholders of the Company in accordance with the requirements of Section  162(m), unless such grant is made contingent upon such approval.    10.   Adjustments for Changes in Common Stock and Certain Other Events        (a)   Changes in Capitalization.  In the event of any stock split, reverse stock split,  stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or  other similar change in capitalization or event, or any dividend or distribution to holders of  Common Stock other than an ordinary cash dividend, (i) the number and class of securities  available under the Plan, (ii) the share counting rules and sublimits set forth in Sections 4(a) and  4(b), (iii) the number and class of securities and exercise price per share of each outstanding  Option, (iv) the share and per-share provisions and the measurement price of each outstanding  SAR, (v) the number of shares subject to and the repurchase price per share subject to each  outstanding award of Restricted Stock and (vi) the share and per-share-related provisions and the  purchase price, if any, of each outstanding RSU and each Other Stock-Based Award, shall be  equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the  manner determined by the Board.  Without limiting the generality of the foregoing, in the event  the Company effects a split of the Common Stock by means of a stock dividend and the exercise  price of and the number of shares subject to an outstanding Option are adjusted as of the date of  the distribution of the dividend (rather than as of the record date for such dividend), then an  optionee who exercises an Option between the record date and the distribution date for such  stock dividend shall be entitled to receive, on the distribution date, the stock dividend with  respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the  fact that such shares were not outstanding as of the close of business on the record date for such  stock dividend.           (b)   Covered Transactions and Change in Control.               (1)   Definitions.                         (i) A “Covered Transaction” shall mean:                                 (A)   a consolidation, merger, or similar transaction or                                      series of related transactions, including a sale or                                      other disposition of stock, in which the  Company is                                      not the surviving corporation or which results in the                                      acquisition of all or  substantially all of the                                      Company’s then outstanding Common Stock by a                                       -11-  

 

               single person or entity or  by a group of persons                 and/or entities acting in concert;             (B)   a sale or transfer of all or substantially  all the                 Company’s assets; or            (C)   a dissolution or liquidation of the Company.            Where a Covered  Transaction involves a tender offer that           is reasonably expected to be followed by a merger           described in clause (A) (as determined by the Board), the           Covered Transaction shall be  deemed to have occurred           upon consummation of the tender offer.   (ii) A “Change in Control ” shall mean:            (A)   the acquisition by any individual, entity or group                 (within the meaning of Section 13(d)(3) or 14(d)(2)                 of the Exchange Act) (a “Person”) of beneficial                 ownership (within the meaning of Rule 13d-3                 promulgated under the Exchange Act) of 25% or                 more of either (I) the then-outstanding shares of                 Common Stock (the “Outstanding Company                 Common Stock”) or (II) the combined voting power                 of the then-outstanding voting securities of the                 Company entitled to vote generally in the election                 of directors (the “Outstanding Company Voting                 Securities”); excluding, however, the following                 acquisitions of Outstanding Company Common                 Stock and Outstanding Company Voting Securities:                 (W) any acquisition directly from the Company, (X)                 any acquisition by the Company, (Y) any                 acquisition by any employee benefit plan (or related                 trust) sponsored or maintained by the Company or                 any corporation controlled by the Company, or (Z)                 any acquisition by any Person pursuant to a                 transaction which complies with clauses (I), (II) and                 (III)  of subsection (C) of this definition;             (B)   individuals who, as of the effective date of the Plan,                 constitute the Board (the “Incumbent Board”)                 cease for any reason to constitute at least a majority                 of the Board; provided, however, that any                 individual who becomes a member of the Board                 subsequent to such effective  date, whose election,                 or nomination for election by the Company’s                 shareholders, was approved by  a  vote  of at  least                  -12-  

 

      a  majority  of  directors  then  comprising  the        Incumbent  Board  shall  be  considered as  though        such  individual  were  a  member  of  the  Incumbent        Board;  but,  provided  further, that any such        individual whose initial assumption of office occurs        as a result of either an actual or threatened election        contest (as such terms are used in Rule 14a-11 of        Regulation 14A  promulgated  under  the  Exchange        Act)  or  other  actual  or  threatened  solicitation  of        proxies  or  consents by or on behalf of a Person        other than the Board shall not be so considered as a        member  of the Incumbent Board; or   (C)   consummation by the Company of a reorganization,        merger or consolidation or sale or other disposition        of all or substantially all of the assets of the        Company (“Business Combination”); excluding,        however, such a Business Combination pursuant to        which (I) all or substantially all of the individuals        and entities who are the beneficial owners,        respectively, of the Outstanding Company Common        Stock and Outstanding Company Voting Securities        immediately prior to such Business Combination        own, directly or indirectly, more than 50% of,        respectively, the outstanding shares of common        stock, and the combined voting power of the then-       outstanding voting securities entitled to vote        generally in the election of directors, as the case        may be, of the corporation resulting from such        Business Combination (including, without        limitation, a corporation which as a result of such        transaction owns the Company or all or        substantially all of the Company’s assets either        directly or through one or more subsidiaries) in        substantially the same proportions as their        ownership, immediately prior to such Business        Combination, of the Outstanding Company        Common Stock and Outstanding Company Voting        Securities, as the case may be, (II) no Person (other        than any employee benefit plan (or related trust)        sponsored or maintained by the Company or any        corporation controlled by the Company or such        corporation resulting from such Business        Combination) will beneficially own, directly or        indirectly, 25% or more of, respectively, the        outstanding shares of common stock of the          -13-  

 

               corporation resulting from such Business                 Combination or the combined voting power of the                 outstanding voting securities of such corporation                 entitled to vote generally in the election of directors                 except to the extent that such ownership existed                 with respect to the Company prior to the Business                 Combination and (III) at least a majority of the                 members of the board of directors of the corporation                 resulting from such Business Combination were                 members of the Incumbent Board at the time of the                 execution of the initial agreement, or of the action                 of the Board, providing for such Business                 Combination; or            (D)   the approval by the shareholders of the Company of                 a complete liquidation or dissolution of the                 Company;            provided, that, to the extent necessary to ensure compliance           with the requirements of Section 409A, where applicable,           an event described above shall be treated as a Change in           Control only if it also constitutes or results in a change in           ownership or control of the Company, or a change in           ownership of assets of the Company, described in Section           409A.    (iii) “Cause” shall mean:            (A)   If the Participant is party to an employment or                 similar agreement with the Company that contains a                 definition of “Cause,” that definition shall apply for                 purposes of the Plan.             (B)   Otherwise, “Cause” shall mean any (I) willful                 failure by the Participant, which failure is not cured                 within 30 days of written notice to the Participant                 from the Company, to perform his or her material                 responsibilities to the Company or (II) willful                 misconduct by the Participant which is materially                 injurious to the Company.            For purposes of this definition of “Cause,” reference to the           “Company” shall include the acquiror or survivor (or an           affiliate of the acquiror or survivor) in the applicable           Change in Control.   (iv) “Good Reason” shall mean:                  -14-  

 

         (A)   If the Participant is party to an employment or                 similar agreement with the Company that contains a                 definition of “Good Reason,” that definition shall                 apply for purposes of the Plan.             (B)   Otherwise, “Good Reason” shall mean any                 significant diminution in the Participant’s duties,                 authority, or responsibilities from and after such                 Change in Control, as the case may be, or any                 material reduction in the base compensation payable                 to the Participant from and after such Change in                 Control, as the case may be, or the relocation of the                 place of business at which the Participant is                 principally located to a location that is greater than                 50 miles from its location immediately prior to such                 Change in Control. Notwithstanding the occurrence                 of any such event or circumstance, such occurrence                 shall not be deemed to constitute Good Reason                 unless (I) the Participant gives the Company the                 notice of termination no more than 90 days after the                 initial existence of such event or circumstance, (II)                 such event or circumstance has not been fully                 corrected and the Participant has not been                 reasonably compensated for any losses or damages                 resulting therefrom within 30 days of the                 Company’s receipt of such notice and (III) the                 Participant’s termination of Employment occurs                 within six months following the Company’s receipt                 of such notice.             For purposes of this definition of “Good Reason,” reference           to the “Company” shall include the acquiror or survivor (or           an affiliate of the acquiror or survivor) in the applicable           Change in Control.   (v) “Employment” shall mean a Participant’s employment or other     service relationship with the Company and its subsidiaries.     Employment will be deemed to continue, unless the Board     expressly provides otherwise, so long as the Participant is     employed by, or otherwise is providing services in a capacity     described in Section 1 to the Company or its subsidiaries.  If a     Participant’s employment or other service relationship is with a     subsidiary of the Company and that entity ceases to be a     subsidiary, the Participant’s Employment will be deemed to have     terminated when the entity ceases to be subsidiary of the Company     unless the Participant transfers Employment to the Company or its     remaining subsidiaries.                   -15-  

 

(2)   Effect on Awards.             (i) Covered Transactions.  Except as otherwise provided in an Award,              the following provisions shall apply in the event of a Covered              Transaction:                     (A)   Assumption or Substitution.  If the Covered                          Transaction is one in which there is an acquiring or                          surviving entity, the Board may provide for the                          assumption of some or all outstanding Awards or                          for the grant of new awards in substitution therefor                          by the acquiror or survivor or an affiliate of the                          acquiror or survivor.                     (B)   Cash-Out of Awards.  If the Covered Transaction is                          one in which holders of  C o m m o n  Stock will                          receive upon consummation a payment (whether                          cash, non-cash or a combination of  the foregoing),                          the Board may provide for payment (a “cash-out”),                          with respect to some or all Awards, equal in the case                          of each affected Award to the excess, if any, of (A)                          the fair  market value of one share of Common                          Stock (as determined by the Board in its reasonable                          discretion) times the number of shares of Common                          Stock subject to the Award, over (B) the aggregate                          exercise or purchase price, if any, under the Award                          (in the case of an SAR, the aggregate base  price                          above which appreciation is measured), in each case                          on such payment terms (which need  not be the                          same as the terms of payment to holders of                          Common Stock) and other terms, and subject to                          such conditions, as the Board determines.                     (C)   Acceleration of Certain Awards.  If the Covered                          Transaction (whether or  not there is an acquiring                          or surviving entity) is one in which there is no                          assumption, substitution or cash-out, each Award                          requiring exercise will become fully exercisable,                          each Award of Restricted Stock will become fully                          vested and the delivery of  shares of Common                          Stock deliverable under each outstanding award of                          RSUs, Performance Awards (to the extent                          consisting of RSUs) and Other Stock-Based                          Awards will be accelerated  and such shares will                          be delivered, prior to the Covered Transaction, in                          each case on a basis that  gives the holder of the                          Award a reasonable opportunity, as determined by                           -16-  

 

               the Board,  following exercise of the Award or the                 delivery of the shares, as the case may be, to                 participate as a shareholder in the Covered                 Transaction.            (D)   Termination of Awards Upon Consummation of                 Covered Transaction.  Each Award (unless assumed                 or substituted pursuant to Section 10(b)(2)(i)(A)                 above), other than outstanding shares of  Restricted                 Stock (which shall be treated in the same manner as                 other shares of Common Stock, subject to Section                 10(b)(2)(i)(E) below), will terminate upon                 consummation of the Covered Transaction.            (E)   Additional Limitations.  Any share of Common                 Stock delivered pursuant to  Section 10(b)(2)(i)(A)                 or Section 10(b)(2)(i)(C) above with respect to an                 Award may, in the discretion of the Board, contain                 such restrictions, if any, as the Board deems                 appropriate to reflect  any performance or other                 vesting conditions to which the Award was subject.                 In the case of  Restricted Stock, the Board may                 require that any amounts delivered, exchanged or                 otherwise paid in respect of such Common Stock in                 connection with the Covered Transaction be placed                 in  escrow or otherwise made subject to such                 restrictions as the Board deems appropriate to  carry                 out the intent of the Plan.   (ii) Change in Control.  Notwithstanding any other provision of the     Plan to the contrary, in the event of a Change in Control:            (A)   Acceleration of Options and SARs; Effect on Other                 Awards. If, on or prior to the first anniversary of the                 consummation of the Change in Control, the                 Participant’s Employment with the Company is                 terminated for Good Reason by the Participant or is                 terminated without Cause by the Company, all                 Options and SARs outstanding as of the date such                 Change in Control is consummated and which are                 not then exercisable shall become exercisable to the                 full extent of the original grant, all shares of                 Restricted Stock which are not otherwise vested                 shall vest, and Performance Awards granted                 hereunder shall vest to the extent set forth in the                 applicable Award agreement.                     -17-  

 

                              (B)   Restriction on Application of Plan Provisions                                      Applicable in the Event of Termination of                                      Employment.  After a Change of Control, Options                                      and SARs granted under Section 10(b)(2)(i)(A) as                                      substitution for existing Awards shall remain                                      exercisable following a termination of Employment                                      (other than termination by reason of death,                                      disability (as determined by the Company) or                                      retirement (as defined in the Award)) for the  lesser                                      of (I) a period of seven (7) months, or (II) the period                                      ending on the latest date on which such Option or                                      SAR could otherwise have been exercised.                                 (C)   Restriction on Amendment.  In connection with or                                      following a Change in Control, the Board may not                                      impose additional conditions upon exercise or                                      otherwise amend or restrict any Award, or amend                                      the terms of the Plan in any manner adverse to the                                      holder thereof, without the written consent of such                                      holder.    11.   General Provisions Applicable to Awards        (a)   Transferability of Awards.  Awards shall not be sold, assigned, transferred,  pledged or otherwise encumbered by a Participant, either voluntarily or by operation of law,  except by will or the laws of descent and distribution or, other than in the case of an Incentive  Stock Option, pursuant to a qualified domestic relations order, and, during the life of the  Participant, shall be exercisable only by the Participant; provided, however, that, except with  respect to Awards subject to Section 409A, the Board may permit or provide in an Award for the  gratuitous transfer of the Award by the Participant to or for the benefit of any immediate family  member, family trust or other entity established for the benefit of the Participant and/or an  immediate family member thereof if the Company would be eligible to use a Form S-8 under the  Securities Act for the registration of the sale of the Common Stock subject to such Award to  such proposed transferee; provided further, that the Company shall not be required to recognize  any such permitted transfer until such time as such permitted transferee shall, as a condition to  such transfer, deliver to the Company a written instrument in form and substance satisfactory to  the Company confirming that such transferee shall be bound by all of the terms and conditions of  the Award.  References to a Participant, to the extent relevant in the context, shall include  references to authorized transferees.  For the avoidance of doubt, nothing contained in this  Section 11(a) shall be deemed to restrict a transfer to the Company.         (b)   Documentation.  Each Award shall be evidenced in such form (written, electronic  or otherwise) as the Board shall determine.  Each Award may contain terms and conditions in  addition to those set forth in the Plan.         (c)   Termination of Status.  Unless the Board expressly provides otherwise,  immediately upon the cessation of a Participant’s Employment (as defined in Section                                       -18-  

 

10(b)(1)(v)), (i) each Award requiring exercise that is then held by the Participant or by the  Participant’s permitted transferees, if any, will cease to be exercisable and will terminate, and (ii)  all other Awards that are then held by the Participant or by the Participant’s permitted  transferees, if any, to the extent not already vested will be forfeited, except that:               (1)   subject to (2) and (3) below, all Options and SARs held by the Participant  or the Participant’s permitted transferees, if any, immediately prior to the cessation of the  Participant’s Employment with the Company, to the extent then exercisable, will remain  exercisable for the lesser of (i) a period of three months and (ii) the period ending on the latest  date on which such Option or SAR could have been exercised without regard to this Section  11(c), and will thereupon terminate;               (2)   all Options and SARs held by a Participant or the Participant’s permitted  transferees, if any, immediately prior to the Participant’s death, to the extent then exercisable,  will remain exercisable for the lesser of (i) the one year period ending with the first anniversary  of the Participant’s death and (ii) the period ending on the latest date on which such Option or  SAR could have been exercised without regard to this Section 11(c), and will thereupon  terminate; and               (3)   all Options and SARs held by a Participant or the Participant’s permitted  transferees, if any, immediately prior to the cessation of the Participant’s Employment with the  Company will immediately terminate upon such cessation if the Board in its sole discretion  determines that such cessation of Employment has resulted for reasons which cast such discredit  on the Participant as to justify immediate termination of the Award.          (d)   Withholding.  The Participant must satisfy all applicable federal, state, and local  or other income and employment tax withholding obligations before the Company will deliver  stock certificates or otherwise recognize ownership of Common Stock under an Award.  The  Company may elect to satisfy the withholding obligations through additional withholding on  salary or wages.  If the Company elects not to or cannot withhold from other compensation, the  Participant must pay the Company the full amount, if any, required for withholding or have a  broker tender to the Company cash equal to the withholding obligations.  Payment of  withholding obligations is due before the Company will issue any shares on exercise, vesting or  release from forfeiture of an Award or at the same time as payment of the exercise or purchase  price, unless the Company determines otherwise.  If provided for in an Award or approved by the  Board, a Participant may satisfy the tax obligations in whole or in part by delivery (either by  actual delivery or attestation) of shares of Common Stock, including shares retained from the  Award creating the tax obligation, valued at their fair market value (valued in the manner  determined by (or in a manner approved by) the Company); provided, however, except as  otherwise provided by the Board, that the total tax withholding where stock is being used to  satisfy such tax obligations cannot exceed the Company’s minimum statutory withholding  obligations (based on minimum statutory withholding rates for federal and state tax purposes,  including payroll taxes, that are applicable to such supplemental taxable income), except that, to  the extent that the Company is able to retain shares of Common Stock having a fair market value  (determined by (or in a manner approved by) the Company)  that exceeds the statutory minimum  applicable withholding tax without material financial accounting implications or the Company is  withholding in a jurisdiction that does not have a statutory minimum withholding tax, the                                       -19-  

 

Company may retain such number of shares of Common Stock (up to the number of shares  having a fair market value equal to the maximum individual statutory rate of tax (determined by  (or in a manner approved by) the Company)) as the Company shall determine in its sole  discretion to satisfy the tax liability associated with any Award.  Shares used to satisfy tax  withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or  other similar requirements.         (e)   Amendment of Award.  Except as otherwise provided in Section 5(g) and 6(e),  the Board may amend, modify or terminate any outstanding Award, including but not limited to,  substituting therefor another Award of the same or a different type, changing the date of exercise  or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option.  The  The Board may at any time  accelerate the vesting or exercisability of an Award, regardless of  any adverse or potentially  adverse tax consequences resulting from such acceleration. The  Participant’s consent to such action shall be required unless (i) the Board determines that the  action, taking into account any related action, does not materially and adversely affect the  Participant’s rights under the Plan or (ii) the change is permitted under Section 10 or the  foregoing sentence.         (f)   Conditions on Delivery of Stock.  The Company will not be obligated to deliver  any shares of Common Stock pursuant to the Plan or to remove restrictions from shares  previously issued or delivered under the Plan until (i) all conditions of the Award have been met  or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all  other legal matters in connection with the issuance and delivery of such shares have been  satisfied, including any applicable securities laws and regulations and any applicable stock  exchange or stock market rules and regulations, and (iii) the Participant has executed and  delivered to the Company such representations or agreements as the Company may consider  appropriate to satisfy the requirements of any applicable laws, rules or regulations..            (g)   Dividend Equivalents.  The Board may provide for the payment of amounts in  lieu of cash dividends or other cash distributions (“Dividend Equivalents”) with respect to shares  of Common Stock subject to an Award, provided that such Dividend Equivalents shall be subject  to the same vesting and forfeiture provisions as the Award with respect to which they may be  paid.  Any entitlement to dividend equivalents or similar entitlements shall be established and  administered consistent either with exemption from, or compliance with the requirements of  Section 409A to the extent applicable.     12.   Miscellaneous        (a)   No Right To Employment or Other Status.  No person shall have any claim or  right to be granted an Award by virtue of the adoption of the Plan, and the grant of an Award  shall not be construed as giving a Participant the right to continued Employment.  The Company  expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a  Participant free from any liability or claim under the Plan, except as expressly provided in the  applicable Award.         (b)   No Rights As Shareholder; Clawback.  Subject to the provisions of the applicable  Award, no Participant or Designated Beneficiary shall have any rights as a shareholder with                                       -20-  

 

respect to any shares of Common Stock to be issued with respect to an Award until becoming the  record holder of such shares.  In accepting an Award under the Plan, a Participant shall agree to  be bound by any clawback policy the Company has adopted or may adopt in the future, or any  other compensation recovery requirements that the Company determines are necessary or  appropriate to be applicable to an Award.         (c)   Effective Date and Term of Plan.  The Plan shall become effective on the date the  Plan is approved by the Company’s shareholders (the “Effective Date”).  No Awards shall be  granted under the Plan after the expiration of 10 years from the Effective Date, but Awards  previously granted may extend beyond that date.         (d)   Amendment of Plan.  The Board may amend, suspend or terminate the Plan or  any portion thereof at any time provided that (i) to the extent required by Section 162(m), no  Award granted to a Participant that is intended to comply with Section 162(m) after the date of  such amendment shall become exercisable, realizable or vested, as applicable to such Award,  unless and until the Company’s shareholders approve such amendment in the manner required by  Section 162(m); (ii) no amendment that would require shareholder approval under the rules of  the national securities exchange on which the Company then maintains its primary listing  may  be made effective unless and until the Company’s shareholders approve such amendment; and  (iii) if the national securities exchange on which the Company then maintains its primary listing  does not have rules regarding when shareholder approval of amendments to equity compensation  plans is required (or if the Common Stock is not then listed on any national securities exchange),  then no amendment to the Plan (A) materially increasing the number of shares authorized under  the Plan (other than pursuant to Section 4(c) or 10), (B) expanding the types of Awards that may  be granted under the Plan, or (C) materially expanding the class of participants eligible to  participate in the Plan shall be effective unless and until the Company’s shareholders approve  such amendment.  In addition, if at any time the approval of the Company’s shareholders is  required as to any other modification or amendment under Section 422 of the Code or any  successor provision with respect to Incentive Stock Options, the Board may not effect such  modification or amendment without such approval.  Unless otherwise specified in the  amendment, any amendment to the Plan adopted in accordance with this Section 12(d) shall  apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the  amendment is adopted, provided the Board determines that such amendment, taking into account  any related action, does not materially and adversely affect the rights of Participants under the  Plan.  No Award shall be made that is conditioned upon shareholder approval of any amendment  to the Plan unless the Award provides that (i) it will terminate or be forfeited if shareholder  approval of such amendment is not obtained within no more than 12 months from the date of  grant and (2) it may not be exercised or settled (or otherwise result in the issuance of Common  Stock) prior to such shareholder approval.          (e)   Authorization of Sub-Plans (including for Grants to non-U.S. Employees).  The  Board may from time to time establish one or more sub-plans under the Plan for purposes of  satisfying applicable securities, tax or other laws of various jurisdictions.  The Board shall  establish such sub-plans by adopting supplements to the Plan containing (i) such limitations on  the Board’s discretion under the Plan as the Board deems necessary or desirable or (ii) such  additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem  necessary or desirable.  All supplements adopted by the Board shall be deemed to be part of the                                       -21-  

 

Plan, but each supplement shall apply only to Participants within the affected jurisdiction and the  Company shall not be required to provide copies of any supplement to Participants in any  jurisdiction which is not the subject of such supplement.           (f)   Compliance with Section 409A of the Code.  Except as provided in individual  Award agreements initially or by amendment, if and to the extent (i) any portion of any payment,  compensation or other benefit provided to a Participant pursuant to the Plan in connection with  his or her employment termination constitutes “nonqualified deferred compensation” within the  meaning of Section 409A and (ii) the Participant is a specified employee as defined in Section  409A(a)(2)(B)(i) of the Code, in each case as determined by the Company in accordance with its  procedures, by which determinations the Participant (through accepting the Award) agrees that  he or she is bound, such portion of the payment, compensation or other benefit shall not be paid  before the day that is six months plus one day after the date of “separation from service” (as  determined under Section 409A) (the “New Payment Date”), except as Section 409A may then  permit.  The aggregate of any payments that otherwise would have been paid to the Participant  during the period between the date of separation from service and the New Payment Date shall  be paid to the Participant in a lump sum on such New Payment Date, and any remaining  payments will be paid on their original schedule.         The Company makes no representations or warranty and shall have no liability to the  Participant or any other person if any provisions of or payments, compensation or other benefits  under the Plan are determined to constitute nonqualified deferred compensation subject to  Section 409A but do not to satisfy the conditions of that section.         (g)   Limitations on Liability.  Notwithstanding any other provisions of the Plan, no  individual acting as a director, officer, employee or agent of the Company will be liable to any  Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss,  liability, or expense incurred in connection with the Plan, nor will such individual be personally  liable with respect to the Plan because of any contract or other instrument he or she executes in  his or her capacity as a director, officer, employee or agent of the Company.  The Company will  indemnify and hold harmless each director, officer, employee or agent of the Company to whom  any duty or power relating to the administration or interpretation of the Plan has been or will be  delegated, against any cost or expense (including attorneys’ fees) or liability (including any sum  paid in settlement of a claim with the Board’s approval) arising out of any act or omission to act  concerning the Plan unless arising out of such person’s own fraud or bad faith.         (h)   Governing Law.  The provisions of the Plan and all Awards made hereunder shall  be governed by and interpreted in accordance with the laws of the Commonwealth of  Massachusetts, excluding choice-of-law principles of the law of such state that would require the  application of the laws of a jurisdiction other than the Commonwealth of Massachusetts.  In  accepting an Award under the Plan, a Participant shall agree that the Award is granted by the  Company, with respect to Common Stock issued by the Company, and that any claim with  respect to the Award may only be raised against the Company in a court of competent  jurisdiction in the Commonwealth of Massachusetts, regardless of whether the Participant is or  was employed by the Company or a Subsidiary.                                        -22-  

 

                     STATE STREET CORPORATION                        2017 STOCK INCENTIVE PLAN        [____] Restricted Stock Unit Award Agreement with Performance Criteria   Subject to your acceptance of the terms set forth in this agreement and the addendum  attached hereto (“Agreement”), State Street Corporation (“Company”) has awarded you,  under the State Street Corporation 2017 Stock Incentive Plan (“Plan”), and pursuant to  this Agreement and the terms set forth herein, a contingent right to receive the number  of shares of Common Stock (the right to receive such Common Stock, “Restricted Stock  Units”) (“Award”) as set forth in the statement pertaining to this Award (“Statement”) on  the website (“Website”) maintained by Fidelity Stock Plan Services LLC, an independent  service  provider  based  in  the  United  States,  or  another  party  designated  by  the  Company (“Equity Administrator”).    Copies  of  the  Plan, the  Company’s  Prospectus for  the  Plan  and  any  employee  information  supplement  to the  Prospectus  for  your  country  of  Employment  (“Tax  Supplement”) are located on the Website for your reference.  Your acceptance of this  Award  constitutes  your  acknowledgement  that  you  have  read  and  understood  this  Agreement,  the  Plan,  the  Prospectus  for  the  Plan  and  the  Tax  Supplement.   The  provisions of the Plan are incorporated herein by reference, and all terms used herein  shall  have  the  meaning  given  to  them  in  the  Plan,  except  as  otherwise  expressly  provided herein.  In the event of any conflict between the provisions of this Agreement  and the provisions of the Plan, the provisions of the Plan shall control. As used herein,  “State  Street”  means  the  Company  and  each  Subsidiary.  “Subsidiary”  means  the  Company’s consolidated subsidiaries.   You  may  consider  this  Agreement  for  up  to  thirty  (30)  days  from  the  date  it  was  first  made available to you on the Website.   The terms of your Award are as follows:   1.    Grant of Restricted Stock Units. To be entitled to any payment under this Award, you must accept your Award and in so  doing  agree  to  comply  with  the  terms  and  conditions  of  this  Agreement  and  the  applicable  provisions  of  the  Countries  Addendum  outlined  in  Appendix  A  (which  is  incorporated into, and forms a material and integral part of, this Agreement).  Failure to  accept this Award within thirty (30) days following the posting of this Agreement on the  Website will result in forfeiture of this Award.  Subject to the terms and conditions of this  Agreement, Restricted Stock Units shall vest on the vesting and payment date described  in Section 2.  The term “vest” as used herein means the lapsing of certain (but not all)  restrictions  described  herein  and  in  the  Plan  with  respect  to  one  or  more  Restricted  Stock Units.  To vest in all or any portion of this Award as of any date, you must have  been continuously employed with the Company or a Subsidiary from and after the date  hereof  and  until  (and  including)  the  applicable  vesting  date,  except  as  otherwise  provided herein.   By accepting this Award, you acknowledge and agree that with respect to any claim you  may undertake to raise in the future with respect to this Award of Restricted Stock Units  or Common Stock issued by the Company with respect to this Agreement may only be  raised against the Company in a court of competent jurisdiction in the Commonwealth of                                      1  

 

Massachusetts, regardless of where or whether you are employed by the Company or a  Subsidiary.   This Award is subject to any forfeiture, compensation recovery or similar requirements  set  forth  in  this  Agreement,  as  well  as  any  other  forfeiture,  compensation  recovery  or  similar  requirements  under  applicable  law  and  related  implementing  regulations  and  guidance, and to other forfeiture, compensation recovery or similar requirements under  plans, policies and practices of the Company or its relevant Subsidiaries in effect from  time to time, including those set forth in your offer letter. In the event pursuant to this  Agreement  or  pursuant  to  any  applicable  law  or  related  implementing  regulations  or  guidance,  or  pursuant  to  any  Company  or  its  relevant  Subsidiaries  plans,  policies  or  practices, the Board or State Street is required or permitted to reduce, forfeit or cancel  any amount remaining to be paid, or to recover any amount previously paid, with respect  to  this  Award,  or to  otherwise  impose  or  apply  restrictions  on this  Award  or  shares  of  Common Stock subject hereto, it shall, in its sole discretion, be authorized to do so. By  accepting  this  Award,  you  consent  to  making  payment  to  the Subsidiary  that  legally  employs you (“Employer”) in the event of a compensation recovery determination by the  Board or State Street.       2.    Performance Targets; Board Certification; Form of Payment. Whether your Award will be paid and in what amounts will depend on achievement of  average return on equity and average pre-tax margin, both  as defined in the attached  Exhibit  I  (which  is  incorporated  into,  and  forms  a  material  and  integral  part  of,  this  Agreement),  during  the  three  (3)  calendar  years  during  the  Performance  Period,  as  defined in the attached Exhibit I, and the other terms and conditions as set forth herein.  Payment under this Award will only be made if the Board certifies, following the close of  the  Performance  Period,  that  the  pre-established  threshold  performance  targets  have  been  met  or  exceeded,  and  then  only  to  the  extent  of  the  level  of  performance  so  certified as having been achieved.  Any  portion  of  this  Award  earned by  reason  of  the  Board’s  certification  as  described  above will vest and be paid in Common Stock to you (or your Designated Beneficiary, in  the case of your death) in one single installment between February 15 and March 15 of  the calendar year beginning after the end of the Performance Period (unless you have  been  notified  by  the  Company  or  any  Subsidiary  that  you  have  been  designated  as a  Risk Manager or a Senior Manager for the purposes of Article 15.17(1)(b) or (c) of the  Rulebook  of  the  UK  Prudential  Regulation  Authority  (“PRA”)  in  which  case  different  terms and conditions relating to vesting and payment of this Award shall apply to you).  The  total  number  of  shares  of  Common  Stock  to  be  paid  will  be  determined  by  multiplying  the  number  of  Restricted  Stock  Units  referred  to  in  your  Statement  by  the  Total Vesting Percentage, as defined and set forth on the attached Exhibit I and certified  by the Board.   Notwithstanding the foregoing, the Company may, in its sole discretion, settle any vested  Award in the form of:               (i)   a  cash  payment  to  the  extent  settlement  in  shares  of  Common              Stock  (1)  is  prohibited  under  local  law,  rules  or  regulations,  (2)  would              require you, the Company or  your Employer to obtain the approval of any              governmental  and/or  regulatory  body  in  your  country  of  residence  (or                                       2  

 

            country  of  Employment,  if  different),  or  (3)  is  administratively              burdensome; or                (ii)  shares of Common Stock, but require you to immediately sell such              shares of Common Stock (in which case, you hereby expressly authorize              the Company to issue sales instructions on your behalf).   3.    Identified Staff Holding Requirement. Notwithstanding  anything  herein  to  the  contrary,  you  agree  and  covenant  that,  as  a  condition to the receipt of this Award and the settlement of the Restricted Stock Units in  the  form  of  shares  of  Common  Stock  hereunder,  in  the  event  the  Company  or  any  Subsidiary  notifies  you  at  any  time  before  or  after  this  Award  is  made   that  you  have  been designated Identified Staff for purposes of the Capital Requirements Directive IV  (or any implementing or successor rule, regulation or guidance, including the rules and  regulations  of  the  United  Kingdom  Financial  Conduct  Authority  (“FCA”),   Prudential  Regulation Authority (“PRA”), German Federal Financial Supervisory Authority (“BaFin”)  or any other applicable regulatory authority), you will not sell or otherwise transfer any  shares of Common Stock issued and transferred to you pursuant to this Award until the  date that is at least twelve (12) months for UK and State Street Bank International GmbH  (“SSB Intl GmbH”) Identified Staff (or such longer period as is stipulated by the FCA, the  PRA,  BaFin  or  any  other  applicable  regulatory  authority)  after  the  vesting  date  of  the  shares of Common Stock paid in connection with this Award (“Release  Date”), except  that (a) you shall be permitted to sell, prior to the Release Date, a number of shares of  Common  Stock  sufficient  to  pay  applicable  tax  and  social  security  withholding,  if  any,  with  respect  to  such  vesting  (or,  alternatively,  if  the  Company   withholds  such  shares  pursuant to Section 12 of this Agreement, the requirements in this Section 3 not to sell or  otherwise transfer any shares shall only apply to the number of such shares delivered to  you (i.e., after such withholding of shares)), (b) transfers by will or pursuant to the laws  of descent or distribution are permitted and (c) this holding requirement shall not apply to  such portion of the shares of Common Stock, if any, that were  awarded with respect to  a period of time, as determined by the Company in its discretion, during which you were  not  subject  to  such  holding  requirement.   Any  attempt  by  you  (or  in  the  case  of  your  death, by your Designated Beneficiary) to assign or transfer shares of Common Stock  subject to this Award, either voluntarily or involuntarily, contrary to the provisions hereof,  shall  be  null  and  void  and  without  effect.   The  Company  may,  in  its  sole  discretion,  impose restrictions on the assignment or transfer of shares of Common Stock consistent  with the provisions hereof, including, without limitation, by or through the transfer agent  for such shares or by means of legending Common Stock certificates or otherwise. This  provision applies in addition to, and not to the exclusion of, any other holding, forfeiture  and/or clawback provisions contained in this Agreement.   4.    General Circumstances of Forfeiture.       (a)   You  will  immediately  forfeit  any  and  all  rights  to  receive  shares  of  Common Stock under this Agreement not previously vested,  issued and transferred to  you in the event:               (i)   you cease to be employed by the Company and its Subsidiaries              due to Circumstances of Forfeiture;              (ii)  your  Employer,  in  its  sole  discretion,  determines  that              circumstances prior to the date on which you ceased to be employed by                                      3  

 

               the Company and its Subsidiaries for any reason constituted grounds for              an involuntary termination constituting Circumstances of Forfeiture; or              (iii) you fail  to  comply  with  the  terms  of  the  applicable  Countries              Addendum  attached  to  this Award  or  the  terms  of  any  other  Restrictive              Covenant (as defined in the Countries Addendum) you agree to or have              agreed to with the Company or your Employer.         (b)   If your Employment terminates by reason of [Retirement or] Disability or  any  reason  other  than  for  Circumstances  of  Forfeiture,  then  you  shall  be  eligible  to  receive  a  payment  under  this  Award  subject  to  the  certification  of  the Board in  accordance  with  Section  2,  subject  to  the  terms  and  conditions  of  this  Agreement.   Unless  accelerated  as  provided  in  Section 9,  any  amount  payable  pursuant  to  this  Section 4 shall be paid in accordance with Section 2.         (c)   For purposes hereof:              (i)   “Circumstances  of  Forfeiture”  means  the  termination  of  your              Employment with the Company and its Subsidiaries either (A) voluntarily              (other than [(x) Retirement or (y)] for Good Reason on or prior to the first              anniversary  of  a  Change  in  Control)  or  (B)  involuntarily  for  reasons              determined  by  the  Company  or  the  relevant  Subsidiary  in its  sole              discretion  to  constitute  “gross  misconduct” [(including  while  you  are              Retirement eligible)].              (ii)  [“Retirement” means your attainment of age 55 and completion of              5 years of continuous service with the Company and its Subsidiaries.                (iii) ]“Disability”  means  your  inability  to  engage  in  any  substantially              gainful  activity  by  reason  of  any  medically  determinable  physical  or              mental impairment that can be expected to result in your death or can be              expected to last for a continuous period of not less than 12 months.        (d)   If you are a local national of and employed in a country that is a member  of  the  European  Union  (“EU”),  the  grant  of this  Award  and  the  terms  and  conditions  governing  this  Award  are  intended to  comply  with  the  age  discrimination  provisions  of  the EU Equal Treatment Framework Directive, as implemented into local law (the “Age  Discrimination  Rules”).   To  the  extent  a  court  or  tribunal  of  competent  jurisdiction  determines that any provision of this Award is invalid or unenforceable, in  whole or in  part, under the Age Discrimination Rules, the Company, in its sole discretion, shall have  the  power  and  authority  to  revise  or  strike  such  provision  to  the  minimum  extent  necessary to make it valid and enforceable to the full extent permitted under applicable  local law.        (e)   This Section 4 applies in addition to, and not to the exclusion of, any other  holding, forfeiture and/or clawback provisions contained in this Agreement.   5.    Material Risk Taker Malus-Based Forfeiture.  In the event you hold a title of Senior Vice President or higher during the calendar year  in which this Award is made, or you hold the status of “material risk taker” at the time this  Award  is  made  or  any  time  thereafter, you  acknowledge  and  agree  that  this  Award  is  subject  to  the  provisions  of  this  Section 5.  In  respect  of  any  Award  remaining  to  be  issued  and  transferred  to  you  in  Common  Stock  or  otherwise  paid may,  in  the  sole  discretion  of  the  Board,  be  reduced,  forfeited or  cancelled,  in  the  event  that it  is  determined  by  the  Board,  in  its  sole  discretion,  that  your  actions,  whether  discovered                                      4                                        

 

   during  or  after  your  employment  with  the  Employer,  exposed The  Business  to  any  inappropriate risk or risks (including where you failed to timely identify, analyze, assess  or raise concerns about such risk or risks, including in a supervisory capacity, where it  was  reasonable  to  expect  you  to  do  so),  and  such  exposure  has  resulted  or  could  reasonably  be  expected  to  result  in  a  material  loss  or  losses  that  are  or  would  be  substantial in relation to the revenues, capital and overall risk tolerance of The Business.   “The Business” shall mean State Street, or, to the extent you devote substantially all of  your business time to a particular business unit (e.g., Global Services Americas, Global  Services International, State Street Global Exchange or State Street Sector Solutions) or  business division (e.g., Alternative Investment Solutions, Securities Lending), “Business”  shall refer to such business unit or business line. This provision applies in addition to,  and  not  to  the  exclusion  of,  any  other  holding,  forfeiture  and/or  clawback  provisions  contained in this Agreement.   6.    Identified Staff Malus-Based Forfeiture and Clawback.        (a)   In  the  event  the  Company  or  any  Subsidiary  notifies  you  at  any  time  before  or  after  this  Award  is  made  that  you  have  been  designated  Identified  Staff  for  purposes of the PRA Remuneration Code, you acknowledge and agree that this Award  is subject to the provisions of this Section 6 for a period of seven (7) years from the date  this Award is granted.  The seven (7)-year period may be extended to ten (10) years in  certain circumstances where               (i)  the  Company  has  commenced  an  investigation  into  facts  or  events              which it considers could potentially lead to the application of a clawback              under  this  Section 6 were  it  not for  the  expiration  of  the seven  (7)-year              period; or               (ii)  the  Company  has  been  notified  by  a  regulatory  authority  that  an              investigation  has  commenced  into  facts  or  events  which  the  Company              considers  could  potentially  lead  to  the  application  of  clawback  by  the              Company under this Section 6 were it not for the expiration of the seven              (7)-year period.        (b)   If the Company determines that a PRA Forfeiture Event has occurred it  may elect to reduce, forfeit or cancel all or part of any amount remaining to be issued  and  transferred  to  you  in  Common  Stock  or  otherwise  paid  in  respect  of  this  Award  (“PRA Malus-Based Forfeiture”).        (c)   If the Company determines that a PRA Clawback Event has occurred it  may require the repayment by you (or otherwise seek to recover from you) of all or part  of any compensation paid to you in respect of this Award.        (d)   The Company may produce guidelines from time to time in respect of its  operation  of  the  provisions  of  this  Section 6.   The  Company  intends  to  apply  such  guidelines in deciding whether and when to effect any reduction, cancellation, forfeiture  or  recovery  of  compensation  but,  in  the  event  of  any  inconsistency  between  the  provisions of this Section 6 and any such guidelines, this Section 6 shall prevail. Such  guidelines  do  not  form  part  of  any  employee’s  contract  of Employment,  and  the  Company may amend such guidelines and their application at any time.        (e)   By accepting this Award on the Website, you expressly and explicitly               (i) consent to making  the required  payment to the Company (or to your              Employer on behalf of the Company)upon a PRA Clawback Event; and                                       5                                        

 

               (ii) authorize the Company to issue related instructions, on your behalf, to              the Equity Administrator and any brokerage firm and/or third party              administrator engaged by the Company to hold your shares of Common              Stock and other amounts acquired under the Plan and to re-convey,              transfer or otherwise return such shares of Common Stock and/or other              amounts to the Company.         (f)   For the purposes of this Section 6:              (i)   A “PRA Forfeiture Event” means a determination by the Company,              in  its  sole  discretion,  that  (A)  there  is  reasonable  evidence  of your              misbehavior or material error; or (B) the Company, one of its Subsidiaries              or  a  relevant  business  unit  has  suffered  a  material  downturn  in  its              financial  performance;  or  (C) the  Company,  one  of  its  Subsidiaries  or  a              relevant business unit has suffered a material failure of risk management.              (ii)   A  “PRA  Clawback  Event”  means  a  determination  by  the              Company,  in  its  sole  discretion,  that  either  (A)  there  is  reasonable              evidence of your misbehavior or material error or (B) the Company, one              of  its  Subsidiaries  or  a  relevant  business  unit  has  suffered  a  material              failure of risk management.         (g)   This Section 6 applies in addition to, and not to the exclusion of, any other  holding, forfeiture and/or clawback provisions contained in this Agreement.  7.    SSB  Intl  GmbH  and  SSGA  GmbH  Affordability  Limitations,  and Malus- Based Forfeiture and Clawback.         (a)   Awards issued to SSB Intl GmbH or State Street Global Advisors GmbH  staff may be impacted by the financial situation of the bank and/or regulatory group, as  prescribed by regulatory requirements in its applicable  version (e.g. the Remuneration  Ordinance for Institutions and/or German Banking Act). Awards may also be limited to  the extent ordered by the competent supervisory authority according to sec. 45 para. 2  sentence 1 no. 5a, 6 German Banking Act. Further, entitlement to an Award may lapse if  the competent supervisory authority issues a corresponding definitive order according to  sec. 45 para. 5 sentence 5 to 8 German Banking Act.                (b)    In the event the Company or any Subsidiary notifies you at any time before  or  after  this  Award  is  made  that  you  have  been  designated SSB  Intl  GmbH  Identified  Staff for purposes of the German Remuneration Ordinance, you acknowledge and agree  that this Award is subject to forfeiture and clawback for a period from the date the Award  is granted until two (2) years from the date that the final tranche of this Award vests.  A  clawback applies if you, as SSB Intl GmbH Identified Staff,                      (i)   contributed  significantly  to,  or  was  responsible  for,  conduct  that              resulted in significant losses or regulatory sanctions for SSB Intl GmbH,              or               (ii)  is responsible for a serious breach of relevant external or internal              rules on good conduct (“SSB Intl GmbH Identified Staff Clawback Event”).                (c)   Section 7  applies  in  addition  to,  and  not  to  the  exclusion  of,  any  other  holding, forfeiture and/or clawback provisions contained in this Agreement.                                                6                                        

 

   8.    Management Committee/Executive Vice President Forfeiture and Clawback.        (a)   If, at the time the Award is made, you are a member of the State Street  Corporation  Management  Committee  or  any  successor  committee  or  body  (“Management Committee” or “MC”) or hold the title Executive Vice President (“EVP”) or  higher, any  amount  remaining  to  be  paid  in  respect  of  this  Award  may,  in  the  sole  discretion  of  the Board,  be  reduced, forfeited or  cancelled,  in  whole  or  in  part,  in  the  event that it is determined by the Board, in its sole discretion, that:              (i)   you  engaged  in  fraud,  gross  negligence  or  any  misconduct,              including in a supervisory capacity, that was materially detrimental to the              interests or business reputation of State Street or any of its businesses;              or              (ii)  you engaged in conduct that constituted a violation of State Street              policies and procedures or State Street Standard of Conduct in a manner              which  either  caused  or  could  have  caused  reputational  harm  that  is              material  to  State  Street  or  placed  or  could  have  placed  State  Street  at              material legal or financial risk; or              (iii) as  a  result  of  a  material  financial  restatement  by  State  Street              contained in a filing with the U.S. Securities and Exchange Commission              (“SEC”),  or  miscalculation  or  inaccuracy  in the  determination  of              performance metrics, financial results or other criteria used in determining              the amount of this Award, you would have received a smaller or no Award              hereunder.        (b)   If, at the time the Award is made, you are a member of the Management  Committee or hold the title EVP or higher, this Award also is subject to compensation  recovery  as  provided  herein.   Upon  the  occurrence  of  an  MC/EVP Clawback  Event  within four (4) years after the date of grant of this Award or within one (1) year of the  vesting and payment date of this Award, the Board may, in its sole discretion, determine  to  recover  the  MC/EVP  Clawback  Amount,  in  whole  or  in  part.  Following  such  a  determination,  you  agree  to  immediately  repay  such  compensation,  in  no  event  later  than sixty (60) days following such determination, in the form of any shares of Common  Stock  delivered  to  you  previously  by  the  Company  or  cash  (or  a  combination  of  such  shares and cash).  For purposes of calculating the value of both:              (i)   the amount of the MC/EVP Clawback Amount determined by the              Board to be recovered; and               (ii)  the  amount  of  such  compensation  repaid,  shares  of  Common              Stock will be valued in an amount equal to the market value of the shares              of Common Stock delivered to you under this Award by the Company as              determined at the time of such delivery.  To the extent not prohibited by              applicable  law  and  subject  to  Section  16  (if  applicable),  if  you  fail  to              comply  with  any  requirement  to  repay  compensation  under  this  Section              8(b),  the  Board  may  determine,  in  its  sole  discretion,  in  addition  to  any              other  remedies  available  to  the  Company,  that  you  will  satisfy  your              repayment obligation through an offset to any future payments owed by              the Company or any of its Subsidiaries to you.         (c)   For purposes of this Section 8:                                       7                                        

 

               (i)   “MC/EVP Clawback Event” means a determination by the Board,              in  its  sole  discretion, (A) with  respect  to  any  event  or  series  of  related              events, that  you  engaged  in  fraud  or  willful  misconduct, including  in  a              supervisory capacity, that resulted in financial or reputational harm that is              material  to  State  Street  and  resulted  in  the  termination  of  your              Employment  by  the Company  and  its  Subsidiaries  (or,  following  a              cessation of your Employment for any other reason, such circumstances              constituting  grounds  for  termination are  determined  applicable)  or  (B)  a              material financial restatement or miscalculation or inaccuracy in financial              results,  performance  metrics,  or  other  criteria  used  in  determining this              Award by  State  Street occurred.   For  the  avoidance  of  doubt  and  as              applicable,  an  MC/EVP Clawback  Event  includes  any  determination  by              the Board that is based on circumstances prior to the date on which you              cease  to  be  employed  by  the  Company  and  its  Subsidiaries  for  any              reason,  even  if  the  determination  by  the  Board  occurs  after  such              cessation of Employment.              (ii)  “MC/EVP Clawback  Amount”  means  (A)  with  respect  to  an              MC/EVP Clawback Event described in Section 8(c)(i)(A), the value of the              shares  of  Common  Stock,  determined  under  Section 8(b)  above,  that              were  delivered  to  you  under  this  Award  by  the  Company  prior  to  such              MC/EVP  Clawback  Event  or  (B)  with  respect  to  an  MC/EVP Clawback              Event described in Section 8(c)(i)(B), the value of the shares of Common              Stock, determined under Section 8(b) above, that were delivered to you              under  this  Award  by  the  Company  (x)  prior  to  an  associated  date              designated  by  the  Board and  (y) that  represents  an  amount that,  in the              sole discretion of the Board, exceeds the amount you would have been              awarded  under  this  Award  had  the  financial  statements or  other              applicable records of State Street been accurate (reduced, in the case of              both  of  the  immediately  preceding  clauses  (A)  and  (B), taking  into              account any portion of this Award that was previously recovered by the              Company under Section 8(b) to avoid a greater than 100% recovery).          (d)   In  connection  with  any  MC/EVP  Clawback  Event,  you  hereby  expressly  and explicitly authorize the Company to issue instructions, on your behalf, to the Equity  Administrator  and  any  brokerage  firm  and/or  third  party  administrator  engaged  by  the  Company to hold your shares of Common Stock and other amounts acquired under the  Plan  to  re-convey,  transfer  or  otherwise  return  such  shares  of  Common  Stock  and/or  other amounts to the Company.           (e)   This Section 8 applies in addition to, and not to the exclusion of, any other  holding, forfeiture and/or clawback provisions contained in this Agreement.   9.    Change in Control; Acceleration of Performance Award.        Subject to  applicable  law  and regulation  (including  the  rules  and regulations  of  any applicable regulatory authority):        (a)   in the case of a Change in Control occurring              (i)    in [the first calendar year], the Total Vesting Percentage shall be              100%,                                      8                                        

 

               (ii)   in [the second calendar year], the Total Vesting Percentage shall              be  based  upon (A) the  simple  average  of  the  actual return  on  equity              results for the [first] calendar year, adjusted in accordance with the Plan,              and [applicable %] for each of [the first and second calendar years] and              (B)  the  simple  average  of  pre-tax  margin  results  for  the  [first]  calendar              year, adjusted in accordance with the Plan, and [applicable %] for each of              [first and second calendar years], and              (iii)  in [the third calendar year], the Total Vesting Percentage shall be              based upon (A) the simple average of the actual return on equity results,              adjusted  in  accordance with  the  Plan, for  each of  the [first  and  second]              calendar years and [applicable %] for [the third calendar year] and (B) the              simple average of pre-tax margin results, adjusted in accordance with the              Plan, for each of the [first and second] calendar years and [applicable %]              for [the third calendar year].        (b)   If,  prior  to  the  full  settlement  of  your  Award,  your  employment  with  the  Company  and  its  Subsidiaries  is  terminated  by  the  Company  or  the  applicable  Subsidiary  without  Cause  (as  defined  in  the  Plan)  or  by  you  for  Good  Reason  (as  defined in the Plan) [or on account of your Retirement], in each case, during the one- year period following a Change in Control, you shall be entitled within 30 days of such  termination to receive a cash payment equal to the adjusted fair market value of a share  of the Common Stock (1) multiplied by the number of units referred to in your Statement  and (2) further multiplied by the Total Vesting Percentage (which shall be calculated in  accordance with clause (a) above in the case of a Change in Control occurring prior to  the  end  of  the  Performance  Period);  provided,  to  the  extent  an  Award  or  any  portion  thereof constitutes “nonqualified deferred compensation” within the meaning of Section  409A of the Code, that such Change in Control constitutes a “change in control event” as  that term is defined under Section 409A of the U.S. Internal Revenue Code of 1986, as  amended,  (“Code”)  and  Treasury  Regulation  1.409A-3(i)(5).   For  purposes  of  the  preceding sentence, “adjusted fair market value” shall mean the higher of the               (i)    the highest average of the reported daily high and low prices per              share of the Common Stock during the sixty (60)-day period prior to the              first  date  of  actual  knowledge  by  the  Board  of  the  circumstances  that              resulted in a Change in Control, and               (ii)   if the Change in Control is the result of a transaction or series of              transactions described in paragraph 1 or 2 of the definition of Change in              Control in the Plan, the highest price per share of the Common Stock paid              in  such  transaction  or  series  of  transactions  (which  in  the  case  of  a              transaction described in paragraph 1 of such definition in the Plan shall              be  the  highest  price  per  share  of  the  Common  Stock  as  reflected  in  a              Schedule  13D  filed  by  the  person  having  made  the  acquisition).   For              purposes  of  this  Section 9,  termination  of  employment  shall  mean  a              “separation  from  service”  as  determined  in  accordance  with  Treasury              Regulation Section 1.409A-1(h).          10.   Amendments to Restricted Stock Units.  Subject  to  the  specific  limitations  set  forth  in  the  Plan,  the  Board  may  at  any  time  suspend  or  terminate  any  rights  or  obligations  relating  to  this  Award  prior  to  the  full  settlement of your Award without your consent.                                      9                                        

 

   11.   Shareholder Rights.  You  are  not  entitled  to  any  rights  as  a  shareholder  with  respect  to  any  shares  of  Common Stock subject to this Award until they are transferred to you.  Without limiting  the  foregoing,  prior  to  the  issuance  and  transfer  to  you  of  shares  of  Common  Stock  pursuant to this Agreement, you will have no right to receive dividends or amounts in lieu  of dividends with respect to the shares of Common Stock subject to this Award nor any  right to vote the shares of Common Stock prior to any shares being transferred to you.   12.   Withholding of Tax-Related Items.  Regardless  of  any  action  your  Employer  takes  with  respect  to  any  or  all  income  tax  (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance,  payroll tax, payment on account of other tax-related withholding (“Tax-Related Items”),  you  acknowledge  and  agree  that  the  ultimate  liability  for  all  Tax-Related  Items  legally  due from you is and remains your responsibility.  Furthermore, neither the Company nor  your Employer (a) makes any representations or undertakings regarding the treatment of  any Tax-Related Items in connection with any aspect of this Award, including the grant  of this Award, the vesting of this Award and the issuance of shares of Common Stock in  settlement of this Award, the subsequent sale of any shares of Common Stock delivered  upon settlement of this Award, the cancellation, forfeiture or repayment of any shares of  Common  Stock  (or  cash  in  lieu  thereof)  or  the  receipt  of  any  dividends or  dividend  equivalents;  or  (b)  commits  to  structure  the  terms  of  the  grant,  vesting,  settlement,  cancellation,  forfeiture,  repayment  or  any  other  aspect  of  this  Award  to  reduce  or  eliminate your liability for Tax-Related Items.  Prior to the delivery of  shares of Common Stock upon the vesting of this Award, if any  taxing  jurisdiction  requires  withholding  of  Tax-Related  Items  in  connection  with  the  Award,  the  Company  may  withhold  a  sufficient  number  of  whole  shares  of  Common  Stock that have an aggregate fair market value sufficient to pay the Tax-Related Items  required to be withheld with respect to this Award; provided, however, that the total tax  withholding  cannot  exceed  the  Employer’s  minimum  statutory  withholding  obligations  (based  on  minimum  statutory withholding  rates  for  federal  and  state  tax  purposes,  including payroll taxes, that are applicable to such supplemental taxable income).  The  cash  equivalent  of  the  shares of  Common  Stock withheld  will  be  used  to  settle  the  obligation to withhold the Tax-Related Items (determined in the Company’s reasonable  discretion).  No fractional shares of Common Stock will be withheld or issued pursuant to  the  issuance  of  Common  Stock  hereunder.   Alternatively,  the  Company  and/or  your  Employer may, in its discretion, withhold any amount necessary to pay the Tax-Related  Items from your salary, wages or other amounts payable to you, with no withholding in  shares of Common Stock.  In the event the withholding requirements are not satisfied  through  the  withholding  of  shares or  through  your  salary,  wages or  other  amounts  payable to you, no shares of Common Stock will be issued upon vesting of this Award  unless  and  until  satisfactory  arrangements  (as  determined  by  the  Company  or  your  Employer)  have  been  made  by  you  with  respect  to  the  payment  of  any  Tax-Related  Items which the Company or your Employer determines, in its sole discretion, must be  withheld or collected with respect to such Award.   Depending  on  the  withholding  method,  the  Company  may  withhold  for  Tax-Related  Items  by  considering  any  applicable  statutory  withholding  amounts  or  other  applicable  withholding rates, including maximum applicable rates.  If you are subject to taxation in  more than one jurisdiction, you hereby expressly acknowledge that the Company, your                                     10                                        

 

   Employer  or  another  Subsidiary  may  be  required  to  withhold  and/or  account  for  Tax- Related Items in more than one jurisdiction.    By accepting this Award, you hereby expressly consent to the withholding of shares of  Common  Stock  and/or  cash  as  provided  for  hereunder.   All  other  Tax-Related  Items  related to this Award and any Common Stock delivered in payment thereof, including the  extent to which the Company or your Employer does not so-withhold shares of Common  Stock and/or cash, are your sole responsibility.     13.   Changes in Capitalization or Corporate Structure.  This  Award  is  subject  to  adjustment  pursuant  to  Section 10(a)  of  the  Plan in  the  circumstances therein described.   14.   Employee Rights.  Nothing in this Award shall be construed to guarantee you any right of Employment with  the Company, your Employer or any Subsidiary or to limit the discretion of any of them to  terminate your Employment at any time, with or without cause, to the maximum extent  permitted under local law.    In  consideration  of  the  grant  of  the  Award, you  acknowledge  and  agree  that  you  will  have no entitlement to compensation or damages in consequence of the termination of  your Employment (for any reason whatsoever and whether or not in breach of contract  or local labor laws), insofar as such entitlement arises or may arise from your ceasing to  have rights under or to be entitled to the Award as a result of such termination, or from  the  loss  or  diminution  in  value  of  the  Award.  By  accepting  this  Award,  you  shall  be  deemed irrevocably to have waived any such claim or entitlement against the Company,  your Employer and all Subsidiaries that may arise; if, notwithstanding the foregoing, any  such  claim  is  found  by  a  court  of  competent  jurisdiction  to  have  arisen,  then,  by  accepting  this  Agreement,  you  shall  be deemed  irrevocably  to  have  waived  your  entitlement  to  pursue  such  claim.  In  the  event  your Employment  ends  and  you  are  subsequently rehired by the Company or any Subsidiary, no Award previously forfeited  or recovered will be reinstated.   15.   Non - Transferability, Etc.  This Award shall not be transferable other than (1) by  will or the  laws of descent and  distribution  or  (2)  pursuant  to  the  terms  of  a  court-approved  domestic  relations  order,  official  marital  settlement  agreement  or  other  divorce  or  settlement  instrument  satisfactory to State Street, in its sole discretion. In the case of transfer pursuant to (2)  above, this Award shall remain subject to all the terms and conditions contained in the  Plan  and  this  Agreement,  including  vesting, forfeiture and  clawback  terms  and  conditions.   Any  attempt  by  you  (or  in  the  case  of  your  death,  by  your Designated  Beneficiary) to assign or transfer this Award, either voluntarily or involuntarily, contrary to  the provisions hereof, shall be null, void and without effect and shall render this Award  itself null and void.   16.   Compliance with Section 409A of the Code.          (a)   The  provisions  of  this  Award  are  intended  to  be  exempt  from,  or  compliant  with,  Section  409A  of  the  Code,  and  shall  be  construed  and  interpreted  consistently  therewith.   Notwithstanding  the  foregoing,  neither  the  Company  nor  any                                     11                                        

 

   Subsidiary shall have any liability to you or to any other person if this Award is not so  exempt or compliant.        (b)   If and to the extent               (i)   any  portion  of  any  payment,  compensation  or  other  benefit              provided to you pursuant to the Plan in connection with your Employment              termination  constitutes  “nonqualified  deferred  compensation”  within  the              meaning of Section 409A of the Code, and              (ii)   you  are  a  specified  employee  as  defined  in  Section              409A(a)(2)(B)(i)  of  the  Code,  in  each  case  as  determined  by  the              Company in accordance with its procedures, by which determinations you              (through accepting this Award) agree that you are bound, such portion of              the payment, compensation or other benefit shall not be paid before the              day  that  is  six  months  plus  one  day  after  the  date  of  “separation  from              service”  (as  determined  under  Section  409A  of  the  Code)  (the “New              Payment  Date”),  except  as  Section  409A  of the  Code  may  then  permit.               The aggregate of any payments that otherwise would have been paid to              you  during  the  period  between  the  date  of  separation  from  service  and              the New Payment Date shall be paid to you in a lump sum on such New              Payment Date, and any remaining payments will be paid on their original              deferral schedule.   17.   Miscellaneous.        (a)   Awards Discretionary.  By accepting this Award, you acknowledge and  agree that  the  Plan  is  discretionary  in  nature  and  limited  in  duration,  and  may  be  amended, cancelled, forfeited, or terminated by the Company, in its sole discretion, at  any  time.  The  grant  of  this  Award  is  a  one-time  benefit  and  does  not  create  any  contractual  or  other  right  to  receive  an  award,  compensation  or  benefits  in  lieu  of  an  award in the future. Future awards, if any, will be at the sole discretion of the Company,  including, but not limited to, the form and timing of an award, the number of shares of  Common Stock subject to an award, performance criteria, and forfeiture, clawback and  vesting provisions.         (b)   Company and Committee Discretion.  Sections 3, 4, 5, 6, 7 and 8 of  this Agreement are intended to comply with and meet the requirements of applicable law  and  related  implementing  regulations  regarding  incentive  compensation  and  will  be  interpreted  and  administered  accordingly  as  well  as  in  accordance  with  any  implementing policies and practices of the Company or its relevant Subsidiaries in effect  from  time  to  time.   In  making  determinations  under  such  Sections,  the  Company,  the  relevant  Subsidiary  or  the  Board,  as  applicable,  may  take  into  account,  in  its  sole  discretion, all factors that it deems appropriate or relevant.  Furthermore, the Company,  the  relevant  Subsidiary  or  the Board may,  as  applicable,  take  any  and  all  actions  it  deems necessary or appropriate in its sole discretion, as permitted by applicable law, to  implement the intent of Sections 4, 5, 6, 7 and 8, including suspension of vesting and  payment  pending  an  investigation  or  the  determination  by  the  Company,  the  relevant  Subsidiary or the Board, as applicable.  Each such Section is without prejudice to the  provisions of the other Sections, and the Company, the relevant Subsidiary or the Board  as applicable, may elect or be required to apply any or all of the provisions of Sections 3,  4, 5, 6, 7 and 8 to this Award. Sections 3, 4, 5, 6, 7 and 8 of this Agreement shall cease  to apply upon your death at any time provided, however, if a PRA Clawback Event, SSB                                     12                                        

 

   Intl GmbH Identified Staff Clawback Event or an MC/EVP Clawback Event has occurred  pursuant to Section 6, 7 or 8, respectively, at or prior to your death, any amount that the  Board has made a determination to recover under either such Section shall continue to  be payable to the Company.        (c)   Voluntary Participation.  Your participation in the Plan is voluntary.  The  value  of  this  Award  is  an  extraordinary item  of  compensation,  is  outside  the  scope  of  your  employment  contract,  if  any,  and  is  not  part  of  your  normal  or  expected  compensation for purposes of calculating any severance, resignation, redundancy, end  of  service  payments,  bonuses,  long-service  awards,  pension,  or retirement  benefits  or  similar payments.        (d)   Electronic Delivery.  The Company or any of its Subsidiaries may, in its  sole  discretion,  decide  to  deliver  any  documents  related  to  this  Award  by  electronic  means.   You  hereby  consent  to  receive  such  documents  by  electronic  delivery  and  agree  to  participate  in  the  Plan  through  an  on-line  or  electronic  system,  including  the  Website, established and maintained by the Company, any of its Subsidiaries, the Equity  Administrator or another party designated by the Company.        (e)   Electronic Acceptance.  By accepting this Award electronically,               (i)   you acknowledge and agree that you are bound by the terms of              this Agreement and the Plan and that you and this Award are subject to              all  of  the  rights,  power  and  discretion  of  the  Company,  its  Subsidiaries              and the Board set forth in this Agreement and the Plan; and                (ii)  this  Award  is  deemed  accepted  by  the  Company  and  the              Company shall be deemed to be bound by the terms of this Agreement.         (f)   Language.  You acknowledge and agree that it is your express intent that  this  Agreement,  the  Plan  and  all  other  documents,  notices  and  legal  proceedings  entered into, given or instituted pursuant to this Award, be drawn up in English.  If you  have received this Agreement, the Plan or any other documents related to this Award  translated  into  a  language  other  than  English,  and  if  the  meaning  of  the  translated  version is different than the English version, the English version will prevail to the extent  permitted under local law.        (g)   Additional Requirements.  The Company reserves the right to impose  other requirements on this Award, any shares of Common Stock acquired pursuant to  this Award, and your participation in the Plan, to the extent the Company determines, in  its sole discretion, that such other requirements are necessary or advisable in order to  comply  with  local  laws,  rules  and  regulations  or  to  facilitate  the operation  and  administration of this Award and the Plan.  Such requirements may include (but are not  limited to) requiring you to sign any agreements or undertakings that may be necessary  to accomplish the foregoing.  Further, issuance of Common Stock hereunder is subject  to compliance by the Company and you with all legal requirements applicable thereto,  including compliance with the requirements of 12 C.F.R. Part 359, and with all applicable  regulations of any stock exchange on which the Common Stock may be listed at the time  of issuance.        (h)   Public  Offering.  If  you  are  a  resident  and/or  employed  outside  the  United States, the grant of this Award is not intended to be a public offering of securities  in  your  country  of  residence  (and  country  of Employment,  if  different).   The  Company  has not submitted any registration statement, prospectus or other filings with the local                                     13                                        

 

   securities authorities (unless otherwise required under local law), and the grant of this  Award is not subject to the supervision of the local securities authorities.        (i)   Limitation  of  Liability.  No  individual  acting  as  a  director,  officer,  employee or agent of the Company or any of its Subsidiaries will be liable to you or any  other  person  for  any  action,  including  any  Award  forfeiture,  Award  recovery or  other  discretionary action taken pursuant to this Agreement or any related implementing policy  or procedure of the Company.          (j)   Insider Trading.  By participating in the Plan, you agree to comply with  the Company’s policy on insider trading (to the extent that it is applicable to you).  You  further  acknowledge  that,  depending  on  your  country  of  residence  (and  country  of  Employment, if different) or your broker’s country of residence or where the shares of  Common  Stock  are  listed,  you  may  be  subject  to  insider  trading  restrictions  and/or  market  abuse  laws  which  may  affect  your  ability  to  accept,  acquire,  sell  or  otherwise  dispose of the shares of Common Stock, rights to shares of Common Stock (e.g., this  Award) or rights linked to the value of shares of Common Stock, during such times you  are considered to have “inside information” regarding the Company (as defined by the  laws or regulations in your country of residence (and country of Employment, if different).  Local  insider  trading  laws  and  regulations  may  prohibit  the  cancellation,  forfeiture or  amendment  of  orders  you  place  before  you  possess  inside  information.   Furthermore,  you could be prohibited from (i) disclosing the inside information to any third party (other  than on a “need to know” basis) and (ii) “tipping” third parties or causing them otherwise  to  buy  or  sell  securities.   You  understand  that  third  parties  include  fellow  employees.   Any restriction under these laws or regulations is separate from and in addition to any  restrictions that may be imposed under any applicable Company insider trading policy.   You  hereby  expressly  acknowledge  that  it  is  your  responsibility  to  be  informed  of  and  compliant  with  such  regulations,  and  should  consult  with  your  personal  advisor  for  additional information.        (k)   Exchange  Rates.  Neither  the  Company, your Employer  or  any  Subsidiary  shall  be  liable  for  any  foreign  exchange  rate  fluctuation,  where  applicable,  between your local currency and the United States dollar that may affect the value of an  Award  or  of  any  amounts  due  to  you  pursuant  to  the  settlement  of this Award  or  the  subsequent sale of any shares of Common Stock acquired under the Plan.        (l)   Applicable  Law.  This  Agreement shall  be  subject  to  and  governed  by  the  laws  of  the  Commonwealth  of  Massachusetts,  United  States  of  America  without  regard to that Commonwealth’s conflicts of law principles.   18.   Application of Local Law and Countries Addendum.          (a)   Notwithstanding Section 17(l), this Award shall be subject to all applicable  laws, rules and regulations of your country of residence (and country of Employment, if  different)  and  any  special  terms  and  conditions  for  your  country  of  residence  (and  country of Employment, if different), including as set forth in the addendum that follows  this Agreement (“Countries Addendum”), but limited to the extent required by local law.   The Company reserves the right, in its sole discretion, to add to or amend the terms and  conditions  set  out  in  the  Countries  Addendum  as  necessary  or  advisable  in  order  to  comply  with  applicable  laws,  rules  and  regulations or  to  facilitate  the  operation  and  administration  of  this  Award  and  the  Plan,  including  (but  not  limited to)  circumstances  where you transfer residence and/or Employment to another country.                                     14                                        

 

         (b)   As  a  condition  to  this  Award,  you  agree  to  repatriate  all  payments  attributable  to  the  Common  Stock  acquired  under  the  Plan  in  accordance  with  local  foreign  exchange  rules  and  regulations  in  your  country  of  residence  (and  country  of  Employment, if different).  In addition, you also agree to take any and all actions, and  consent to any and all actions taken by the Company and its Subsidiaries, as may be  required to allow the Company and its Subsidiaries to comply with local laws, rules and  regulations  in  your  country  of  residence  (and  country  of Employment,  if  different).   Finally, you agree to take any and all actions as may be required to comply with your  personal legal, tax and other obligations under local laws, rules and regulations in your  country of residence (and country of Employment, if different).          19.   Data Privacy.     The  Company  is  located  at  One  Lincoln  Street,  Boston,  Massachusetts,  U.S.A.  and  grants Awards under the Plan to employees of the Company and its Subsidiaries in its  sole  discretion. You should  carefully  review  the  following  information  about  the  Company’s data privacy practices in relation to your Award.        (a)   Data  Collection,  Processing  and  Usage. Pursuant  to  applicable  data  protection  laws,  you  are  hereby  notified that the  Company and  your  Employer collect,  process  and  use  certain  personal  data about  you  for  the  legitimate  interest  of  implementing,  administering  and  managing  the  Plan  and  generally  administering   Awards; specifically, including your name, home address, email address and telephone  number,  date  of  birth, social  security  number, social  insurance  number  or  other  identification  number,  salary,  citizenship,  job  title,  any  shares  of  Common  Stock  or  directorships  held  in  the  Company,  and  details  of  all Awards or  any  other incentive  compensation awards granted, canceled, forfeited, exercised, vested, or outstanding in  your favor, which the Company receives from you or your Employer. In granting Awards  under the Plan, the Company will collect your personal data for purposes of allocating  Awards and  implementing,  administering  and  managing  the  Plan.   The  Company’s  collection, processing and use of your personal data is necessary for the performance of  the Company’s contractual obligations under the Plan and pursuant to the Company’s  legitimate  interest  of  managing  and  generally  administering  employee incentive  compensation awards. Your refusal to provide personal data would make it impossible  for  the  Company  to  perform  its  contractual  obligations  and  may  affect  your  ability  to  participate in the Plan. As such, by participating in the Plan, you voluntarily acknowledge  the collection, processing and use of your personal data as described herein.           (b)   Equity Administrator. The Company transfers your personal data to the  Equity Administrator, which assists the Company with the implementation, administration  and management of the Plan.  In the future, the Company may select a different Equity  Administrator  and  share  your  personal  data  with  another  company  that  serves  in  a  similar  manner.   The Equity Administrator  will  open  an  account  for  you  to track  your  Award and to ultimately receive and trade shares of Common Stock acquired under the  Plan. You will be asked to agree on separate terms and acknowledge data processing  practices with the Equity Administrator, which is a condition to your ability to participate  in the Plan.         (c)   Data Retention. The Company will use your personal data only as long  as is necessary to implement, administer and manage your participation in the Plan or  as  required  to  comply  with  legal  or  regulatory  obligations,  including  under  tax  and                                     15                                        

 

   security  laws. When  the  Company  no  longer  needs  your  personal  data,  the  Company  will remove it from its systems.  If the Company keeps your data longer, it would be to  satisfy  legal  or  regulatory  obligations  and  the  Company’s  legal  basis  would  be  for  compliance with relevant laws or regulations.    For further information about the processing of your personal data, please see  the GHR Privacy Notice.                          *          *          *          *          *                                     16                                        

 

                                                Exhibit I          [____] Performance-Based Restricted Stock Unit Awards                                      o  Performance  Period:  The  three  (3)  calendar  years  commencing  January  1,     [____] and ending on December 31, [____].    o  The number of Restricted Stock Units eligible to vest is based 50% on the three-    year  simple  average  of  the return  on equity (“Average  ROE”) and  50%  on  the     three-year  simple  average  of  pre-tax  margin  (“Average  Margin”),  each  as     determined  under Generally  Accepted  Accounting  Principles  for  each  calendar     year of the  period  from  January  1, [___] to  December  31, [___] (the     “Performance Period”), adjusted to reflect events or items identified by the Board     (“Calculation  Adjustments”) such  as (i) any  formally  adopted  change  in,  or     elimination or addition of, an accounting standard or principle, or any change in     the  interpretation  thereof,  whether  identified  as  a  change,  error,  correction  or     otherwise  denominated,  by  the  Financial  Accounting  Standards  Board,  the     Securities  Exchange  Commission  or  its  staff,  the  Public  Company  Accounting     Oversight  Board,  or  any  other  competent  accounting  or  regulatory  body,  as     determined  by  the  Board  based  on  objective  information;  (ii)  any  non-    discretionary  change  in  tax  or  bank  regulatory  laws,  rules,  final  regulations  or     other binding interpretations or guidance issued by a competent regulatory body;     (iii) any acquisition, disposition, joint venture or restructuring by the Company of     a  business  or  portion  thereof,  however  structured  in  any  year  during  the     Performance Period; (iv) any merger and integration expenses in any year during     the Performance Period; (v) any restructuring expenses (e.g., cost of workforce     reductions,  facilities  or  lease  abandonments,  asset  impairments)  in  any  year     during the Performance Period; (vi) any impact (dilution and associated initial and     ongoing  expenses)  of share  buybacks  (or  cancellations  of  share  buybacks) or     securities  issuances  (debt  or  equity)  to  finance,  or  in  contemplation  of,     acquisitions or ventures in any year during the Performance Period; and (vii) any     settlement,  charge  or  other  payment  made  with  respect  to  any  litigation  or     regulatory  matter  arising  from  events  that  occurred  prior  to the Performance     Period; provided, however, that for the avoidance of doubt, the Board retains the     discretionary right to disregard any Calculation Adjustment that would result in an     increase to Average ROE or to Average Margin and to reduce any Award for any     Performance Period for other material events or items that affect performance.       o  The Total Vesting Percentage will be determined by reference to the percentages     listed in Tables 1 and 2 below opposite the Average ROE and Average Margin,     respectively (the “Vesting Percentage”).  The Vesting Percentage for the Average     ROE  and  for  the  Average  Margin will  be  determined  under  Tables 1 and  2,     respectively, using linear interpolation to adjust between percentage points and     rounding up to the nearest one-tenth of one percent, as determined by the Board     in  its  sole  discretion. The  Average  ROE  Vesting  Percentage  and  the  Average     Margin Vesting Percentage will be added together to determine the Total Vesting     Percentage.                                    Table 1: Average ROE Vesting Percentage                                                                     17                                     

 

                                      Three-year             Average ROE                Average ROE           Vesting Percentage                  [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                                 Table 2: Average Margin Vesting Percentage                                                   Three-year        Average Margin Vesting              Average Margin             Percentage                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                 [applicable %]           [applicable %]                                                                                                               APPENDIX A                    COUNTRIES ADDENDUM   TO [____] RESTRICTED STOCK UNIT AWARD AGREEMENT                                  18                                    

 

                                                              STATE STREET CORPORATION                        2017 STOCK INCENTIVE PLAN                                                          A. United States                    B. Australia                    C. Austria                    D. Belgium                    E. Brazil                    F. Canada                    G. Cayman Islands                    H. China                    I. Denmark                    J. France                    K. Germany                    L. Hong Kong                    M. India                    N. Ireland                    O. Italy                    P. Japan                    Q. Jersey                    R. Luxembourg                    S. Netherlands                    T. Norway                    U. Poland                    V. Singapore                    W. South Africa                    X. Switzerland                    Y. Taiwan                    Z. United Arab Emirates                    AA.   United Kingdom                               A.    UNITED STATES  ______________________________________________________________________                                        In consideration of your receipt of this Award, you expressly agree to comply  with the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid, delivered or repaid, under this Award at any time, including the time you  separate from service with the Company and its Subsidiaries.  Failure to comply with the  terms and conditions of this Countries Addendum A may result in the sole determination  of the Company in the forfeiture of any or all of the amounts remaining to be paid under  this Award.  In addition, your eligibility to participate in the Plan in the future, including any potential  future  grants  of  awards  under  the  Plan  (or  any  successor  incentive  plan  of  the  Company),  is  subject  to  and  conditioned  on  your  compliance  with  the  terms  and  conditions of this Countries Addendum A.                                       19                                        

 

   This Countries Addendum A contains a covenant not to compete in Paragraph 5 which  shall  apply  to  you  at  any time  that  you  hold  the  title  of  Executive  Vice  President  or  higher.   You  should  review  it  carefully. You  may  consult  with  an  attorney  before  accepting the Award. You may consider whether you wish to accept the Award for up to  30 days from the date it was first made available to you on the Website.  By accepting  the Award, you acknowledge and agree that it is fair and adequate consideration for the  covenant not to compete and other promises you make in this Countries Addendum A.   All terms used herein shall have the meaning given to them in the Plan or this Award,  except as otherwise expressly provided herein.   1.    Confidentiality.          (a)   You acknowledge that you have access to Confidential Information which  is not generally known or made available to the general public and that such Confidential  Information  is  the  property  of  the  Company,  its  Subsidiaries  or  its  or  their  licensors,  suppliers  or  customers.   Subject  to  Paragraph  17,  below,  you  agree  specifically  as  follows,  in  each  case  whether  during  your Employment or  following  the  termination  thereof:               (i)   You  will  always  preserve  as  confidential  all  Confidential              Information, and will never use it for your own benefit or for the benefit of              others;  this  includes  that  you  will  not  use  the  knowledge  of  activities  or              positions in clients’ securities portfolio accounts or cash accounts for your              own personal gain or for the gain of others.              (ii)  You  will  not  disclose,  divulge,  or  communicate  Confidential              Information to any unauthorized person, business or corporation during or              after  the  termination  of  your Employment with  the  Company  and  its              Subsidiaries.  You will use your best efforts and exercise due diligence to              protect,  to  not  disclose  and  to  keep  as  confidential  all  Confidential              Information.              (iii) You  will  not  initiate  or  facilitate  any  unauthorized  attempts  to              intercept data in transmission or attempt entry into data systems or files.               You will not intentionally affect the integrity of any data or systems of the              Company  or  any  of  its  Subsidiaries  through  the  introduction  of              unauthorized code or data, or through unauthorized deletion or addition.               You  will  abide  by  all  applicable  Corporate  Information  Security              procedures.              (iv)  Upon  the  earlier  of  request  or  termination  of Employment,  you              agree  to  return  to  the  Company  or  the  relevant  Subsidiaries,  or  if  so              directed by the Company or the relevant Subsidiaries, destroy any and all              copies  of  materials  in  your  possession  containing  Confidential              Information.        (b)   The terms of this Countries Addendum A do not apply to any information  which is previously known to you without an obligation of confidence or without breach of  this Countries Addendum A, is publicly disclosed (other than by a violation by you of the  terms  of this  Countries  Addendum  A)  either  prior  to  or  subsequent  to  your  receipt  of  such information, or is rightfully received by you from a third party without obligation of  confidence and other than in relation to your Employment with the Company or any of its  Subsidiaries.                                     20                                        

 

   State Street recognizes that certain disclosures of confidential information to appropriate  government  authorities or  other  designated  persons are  protected  by  “whistleblower”  and  other  laws.   Nothing  in this  Countries  Addendum  A is  intended  to  or  should  be  understood or  construed to  prohibit  or  otherwise  discourage  such  disclosures.   State  Street will not tolerate any discipline or other retaliation against employees who properly  make such legally-protected disclosures.   2.    Assignment and Disclosure.          (a)   You acknowledge that, by reason of being employed by your Employer, to  the extent permitted by law, all works, deliverables, products, methodologies and other  work product conceived, created and/or reduced to practice by you, individually or jointly  with others, during the period of your Employment by your Employer and relating to the  Company  or  any  of  its  Subsidiaries or  demonstrably  anticipated  business,  products,  activities, research or development of the Company or any of its Subsidiaries or resulting  from any work performed by you for the Company or any of its Subsidiaries, including,  without limitation, any track record with which you may be associated as an investment  manager or fund manager (collectively, “Work Product”), that consists of copyrightable  subject matter is "work made for hire" as defined in the Copyright Act of 1976 (17 U.S.C.  §  101),  and  such  copyrights  are  therefore  owned,  upon  creation,  exclusively  by  State  Street. To the extent the foregoing does not apply and to the extent permitted by law,  you hereby assign and agree to assign, for no additional consideration, all of your rights,  title and interest in any Work Product and any intellectual property rights therein to State  Street.   You  hereby waive  in  favor  of State  Street any  and  all  artist’s  or  moral  rights  (including without limitation, all rights of integrity and attribution) you may have pursuant  to any state, federal or foreign laws, rules or regulations in respect of any Work Product  and all similar rights thereto.  You will not pursue any ownership or other interest in such  Work Product, including, without limitation, any intellectual property rights.         (b)   You  will  disclose  promptly  and  in  writing  to  the  Company  or  your  Employer all Work Product, whether or not patentable or copyrightable.  You agree to  reasonably cooperate with State Street               (i)   to  transfer  to  State  Street  the Work  Product  and  any  intellectual              property rights therein,               (ii)  to obtain or perfect such rights,               (iii) to execute all papers, at State Street’s expense, that State Street              shall  deem  necessary  to  apply  for  and  obtain  domestic  and  foreign              patents, copyright and other registrations, and               (iv)  to protect and enforce State Street’s interest in them.          (c)   These obligations shall continue beyond the period of your Employment  with respect to inventions or creations conceived or made by you during the period of  your Employment.   3.    Non-Solicitation.         (a)   This Paragraph 3 shall apply to you at any time that you hold the title of  Vice President or higher.        (b)   You  agree  that,  during  your Employment and  for  a  period  of six  (6)  months from the date your Employment terminates for any reason you will not, without  the prior written consent of the Company or your Employer:                                      21                                        

 

               (i)   solicit,  directly  or  indirectly  (other  than  through  a  general              solicitation  of  employment  not  specifically  directed  to  employees  of  the              Company or any of its Subsidiaries), the employment of, hire or employ,              recruit,  or  in  any  way  assist  another  in  soliciting  or  recruiting  the              employment of, or otherwise induce the termination of the employment of,              any person who then or within the preceding twelve (12) months was an              officer  of  the  Company  or  any  of  its  Subsidiaries  (excluding  any  such              officer whose employment was involuntarily terminated); or               (ii)  engage in the Solicitation of Business from any Client on behalf of              any person or entity other than the Company or any of its Subsidiaries.        (c)   Paragraph  3(b)(i)  above  shall  be  deemed  to  exclude  the  words  “hire  or  employ” if your work location is in California or New York, and shall be construed and  administered accordingly.              (i)   For  purposes  of  this  Paragraph  3,  “officer”  shall  include  any              person  holding  a  position  title  of  Assistant  Vice  President  or  SSGA              Principal  4  or  higher.   Notwithstanding  the  foregoing,  this  Paragraph  3              shall be inapplicable following a Change in Control.   4.    Notice Period Upon Resignation.          (a)   This Paragraph 4 shall apply to you at any time that you hold the title of  Managing  Director  or  higher (or,  any  time  that  you  hold  the  title  of  Vice  President  or  higher in State Street Global Markets (“SSGM”)).  If you are subject to an employment  agreement  that  requires  a  longer  notice  period,  that  employment  agreement  shall  govern.        (b)   In  order  to  permit  the  Company  and  its Subsidiaries  to  safeguard  their  business interests and goodwill in the event of your resignation from Employment for any  reason,  you  agree  to  give  your  Employer  advance  notice  of  your  resignation.   The  duration of the advance notice you provide (the “Notice Period”) will be determined by  your title at the time you deliver such notice, as follows:              (i)   if you are a member of the Management Committee, you will give              180 days’ advance notice;              (ii)  if  you  are  an  Executive  Vice  President or  higher,  you  will  give              ninety (90) days’ advance notice;               (iii) if you are a Vice President in SSGM, you will give thirty (30) days’               advance notice; and              (iv)  otherwise, you will give sixty (60) days’ advance notice.        (c)   During the Notice Period, you will cooperate with your Employer, as well  as the Company and its Subsidiaries, and provide them with any requested information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or  preserving its or their client relationships.          (d)   In  its  sole  discretion,  during  the  Notice  Period,  your  Employer  or  the  Company may place you on a partial or complete leave of absence and relieve you of  some  or  all  of  your  duties  and  responsibilities.   Except  as  provided  otherwise  in  (e)  below, at all times during the Notice Period you shall continue to be an employee of your  Employer, shall continue to receive your regular salary and benefits (although you may  not be eligible for any new incentive compensation awards or, subject to applicable law,                                     22                                        

 

   to  accrue  any  paid  vacation  time),  and  shall  continue  to  comply  with  the  applicable  policies of your Employer, the Company and its Subsidiaries.          (e)   You  agree  that  should  you  fail  to  provide  advance  notice  of  your  resignation as required in this Paragraph 4, your Employer, the Company or any of its  Subsidiaries shall be entitled to seek injunctive relief restricting you from employment for  a  period  equal  to  the  period  for  which  notice  of  resignation  was  required  but  not  provided, and for the period of restriction under Paragraph 5, if applicable, in addition to  any other remedies available under law.         (f)   If  you  have sixty  (60) or  fewer  days’  notice  remaining  in  your  required  Notice  Period  under  this  Paragraph  4,  your  Employer,  or  the  Company,  or  any  of  its  Subsidiaries may, at any time during the remainder of your Notice Period, release you  from  your  obligations  under  this  Paragraph  4  and  give  immediate  effect  to  your  resignation; provided that such action shall not affect your other obligations under this  Countries Addendum A.          (g)   Notwithstanding  the  foregoing,  if you  hold  the  title  of  Executive  Vice  President or  higher this  Paragraph  4  shall  not  apply  in  the  event  you  terminate  your  Employment for Good Reason on or prior to the first anniversary of a Change in Control  (each as defined in the Plan).   5.    Non-Competition.        (a)   This Paragraph 5 shall apply to you at any time that you hold the title of  Executive  Vice  President  or  higher,  except  as  provided  below.  You  should  review  it  carefully and may, if you wish, consult with an attorney before accepting this Award.        (b)   During  your Employment and  for  the twelve  (12) months  following  its  termination  for  any  reason the  “Non-Compete  Period”), you  will  not,  anywhere  in  the  Restricted Area, for yourself or any other person or entity, directly or indirectly, in any  Restricted  Capacity,  engage  in,  provide  services  to,  consult  for,  or  be  employed  by  a  business that provides products or services competitive with any products or services of  your Employer, the Company or any of its Subsidiaries with respect to which you were  involved at any time during your Employment or, with respect to the portion of the Non- Compete  Period  that  follows  termination  of  your Employment,  within  the  two  years  preceding the date of the termination of your Employment.         (c)   If you reside in or have a primary reporting location in California, then this  Paragraph  5  applies  only  during  your  Employment,  but  has  no  effect  after  the  termination of your Employment for any reason.         (d)   If  you  reside  in  or  are  employed  in  Massachusetts  and  State  Street  terminates  your  employment  involuntarily  not for  cause,  then  this  Paragraph  5  applies  only  during  your  Employment,  but  has  no  effect  after  such  termination.  Here,  “cause”  means                (i)   your Employer’s or the Company’s good faith determination that it              has  a  reasonable  basis  for  dissatisfaction  with  your  Employment  for              reasons such as lack of capacity or diligence, failure to conform to usual              standards of conduct, or other culpable or inappropriate behavior or               (ii)  other  grounds  for  discharge  that  are  reasonably  related,  in  your              Employer’s  or  the  Company’s  honest  judgment,  to  the  needs  of  the                                     23                                        

 

               business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries.  In              addition, if you violate a fiduciary duty to your Employer, the Company or              any  of  its  Subsidiaries,  then  the  post-employment  portion of  the  Non-             Compete Period shall be extended by the time during which you engage              in such activities, for up to a total of 2 years following termination of your              Employment.         (e)   “Restricted Area” means anywhere that your Employer, the Company or  any  of  its Subsidiaries markets  its  products  or  services  (which  you  acknowledge  specifically includes the entire world), or with respect to the portion of the Non-Compete  Period  that  follows  termination  of  your Employment,  anywhere  in  which  you  provided  services  or  had  a  material  presence  or  influence  on  behalf  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries  at  any  time  within  the  2-year  period  immediately  preceding such termination.         (f)   “Restricted Capacity” means any capacity, or with respect to the portion  of the Non-Compete Period that follows termination of your Employment, any capacity  that  is  the  same  or  similar  to  the  capacity  in  which  you  were  employed  by  your  Employer, the Company or any of its Subsidiaries at any time within the 2-year period  immediately preceding such termination and/or involves any services that you provided  to your Employer, the Company or any of its Subsidiaries at any time within such 2-year  period.   6.    Definitions – Countries  Addendum.  For  the  purpose  of this  Countries  Addendum A, the following terms are defined as follows:          (a)   “Client” means a prospective, present or former customer or client of the  Company or any of its Subsidiaries with whom you have had, or with whom persons you  have  supervised  have  had,  substantive  and  recurring  personal  contact  during  your  Employment with the Company or any of its Subsidiaries.  A former customer or client  means a customer or client for which the Company or any of its Subsidiaries stopped  providing all services within twelve (12) months prior to the date your Employment with  your Employer ends.          (b)   “Confidential  Information”  includes  but  is  not  limited  to  all  trade  secrets,  trade  knowledge,  systems,  software,  code,  data  documentation,  files,  formulas,  processes,  programs,  training  aids,  printed  materials,  methods,  books,  records,  client  files,  policies  and  procedures,  client  and  prospect  lists,  employee  data  and  other  information relating to the operations of the Company or any of its Subsidiaries and to its  or  any  of  their  customers,  and  any  and  all  discoveries,  inventions  or  improvements  thereof made or conceived by you or others for the Company or any of its Subsidiaries  whether  or  not  patented  or  copyrighted,  as  well  as  cash  and  securities  account  transactions  and  position  records  of  clients,  regardless  of  whether  such  information  is  stamped “confidential.”         (c)    “Person” means an individual, a corporation, a limited liability company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other than your Employer, the Company or any of its Subsidiaries.        (d)    “Solicitation  of  Business”  means  the  attempt  through  direct  or  indirect  contact by you or by any other Person with your assistance to induce a Client to:                (i)   transfer  the  Client’s  business  from  the  Company  or  any  of  its              Subsidiaries to any other person or entity;                                      24                                        

 

               (ii)  cease or curtail the Client’s business with the Company or any of              its Subsidiaries; or               (iii) divert  a  business  opportunity  from  the  Company  or  any  of  its              Subsidiaries  to  any  other  person  or  entity,  which  business  or  business              opportunity  concerns  or  relates  to  the  business  with  which  you  were              actively connected during your Employment with the Company or any of              its Subsidiaries.          (e)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common control with the Company, including direct and indirect subsidiaries.    7.    Definition – Award  Agreement.  For  the  purpose  of  the  Award  Agreement,         Restrictive Covenant is defined as follows:    “Restrictive  Covenant” means  any  confidentiality,  non-solicitation,  non-competition,   non-disparagement, post-employment cooperation or notice provision that you agree   to  or  had agreed  to  with your Employer,  including  but  not  limited  to  the  restrictions   contained  in  the  Award  Agreement,  any  employment  agreement  or  offer  letter,   deferred compensation award agreement of any type, change in control employment   agreement or required as a condition to entitlement to payment under any executive   supplemental retirement plan.   8.    Post-Employment  Cooperation.  You  agree  that,  following  the  termination  of  your Employment with the Company and its Subsidiaries, you will reasonably cooperate  with the Company or the relevant Subsidiary with respect to any matters arising during  or  related  to  your Employment,  including  but  not  limited  to  reasonable  cooperation  in  connection  with  any  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding  (even  if  such  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding arises following the date of this Award to which this Countries Addendum A  is appended or following the termination of your Employment).  The Company or any of  its  Subsidiaries  shall  reimburse  you  for  any  reasonable  out-of-pocket  and  properly  documented expenses you incur in connection with such cooperation.   9.    Non-Disparagement.  Subject  to  Paragraph  17,  below,  you  agree  that  during  your Employment and  following  the  termination  thereof  you  shall  not  make  any  false,  disparaging, or derogatory statements to any media outlet (including Internet-based chat  rooms, message boards, any and all social media, and/or web pages), industry groups,  financial  institutions,  or  to  any  current,  former  or  prospective  employees,  consultants,  clients,  or  customers  of  the  Company  or  its  Subsidiaries  regarding  the  Company,  its  Subsidiaries  or  any  of  their  respective  directors,  officers,  employees,  agents,  or  representatives, or about the business affairs or financial condition of the Company or  any of its Subsidiaries.   10.   Enforcement.  You acknowledge and agree that the promises contained in this  Countries  Addendum  A are  necessary  to  the  protection  of  the  legitimate  business  interests of your Employer, the Company and its Subsidiaries, including without limitation  its and their Confidential Information, trade secrets and goodwill, and are material and  integral  to the  undertakings  of the  Company  under  this  Award  to  which this  Countries  Addendum A is appended.  You further agree that one or more of your Employer, the  Company and its Subsidiaries will be irreparably harmed in the event you do not perform  such promises in accordance with their specific terms or otherwise breach the promises                                     25                                        

 

   made  herein.   Accordingly,  your  Employer,  the  Company  and  any  of  its  Subsidiaries  shall each be entitled to preliminary or permanent injunctive or other equitable relief or  remedy without the need to post bond, and to recover its or their reasonable attorney’s  fees and costs incurred in securing such relief, in addition to, and not in lieu of, any other  relief or remedy at law to which it or they may be entitled.  You further agree that, the  periods of restriction contained in this Countries Addendum A shall be tolled, and shall  not  run,  during  any  period in  which  you  are  in  violation  of  the  terms  of this  Countries  Addendum A, so that your Employer, the Company and its Subsidiaries shall have the  full protection of the periods agreed to herein.  Should the Company determine that any  portion of the Deferred Shares granted to you in connection with this Award are to be  forfeited on account of your breach of the provisions of this Countries Addendum A, any  unvested portion of your Award will cease to vest upon such determination.   11.   No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries  in  exercising  any  right  under this  Countries  Addendum  A shall  operate as  a  waiver of  that right or of any other right.  Any waiver or consent as to any of the provisions herein  provided by your Employer, the Company or any of its Subsidiaries must be in writing, is  effective only in that instance, and may not be construed as a broader waiver of rights or  as a bar to enforcement of the provision(s) at issue on any other occasion.   12.   Relationship to Other Agreements.  This Addendum A supplements and does  not limit, amend or replace any other obligations you may have under applicable law or  any other agreement or understanding you may have with your Employer, the Company  or any of its Subsidiaries or pursuant to the applicable policies of any of them, whether  such  additional  obligations  have  been  agreed  to  in  the  past,  or  are  agreed  to  in  the  future.   13.   Interpretation  of  Business  Protections.  The  agreements  made  by  you  in  Paragraphs 1, 2, 3, 4 and 5 above shall be construed and interpreted in any judicial or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum  extent  permitted by law, and each of the provisions to this Countries Addendum A is severable  and  independently  enforceable  without  reference  to the  enforcement  of  any  other  provision.  If any restriction set forth in this Countries Addendum A is found by any court  of competent jurisdiction to be unenforceable because it extends for too long a period of  time or over too great a range of activities or in too broad a geographic area, it shall be  interpreted  to  extend  only  over  the  maximum  period of  time,  range  of  activities  or  geographic area as to which it may be enforceable.   14.   Assignment.  Except as provided otherwise herein, this Countries Addendum A  shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors and assigns, including any person or entity which acquires the Company or  its assets or business; provided, however, that your obligations are personal and may  not be assigned by you.    15.   Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will be  deemed  to  have  acknowledged  and  agreed  that  you  are  bound  by  the  terms  of this  Countries Addendum A, and it shall be deemed to have been accepted by the Company.   You  agree  that  this  electronic  acceptance  by  both  you  and  the  Company  shall  be  deemed equivalent to the Award having been signed by both parties.   16.   Notification  Requirement.  Until forty-five  (45) days  after  the  period  of                                     26                                        

 

   restriction under Paragraph 5 expires, you shall give notice to the Company of each new  business activity you plan to undertake, at least five (5) business days prior to beginning  any such activity.  Such notice shall state the name and address of the Person for whom  such  activity  is  undertaken  and  the  nature  of  your  business  relationship(s)  and  position(s) with such Person.  You shall provide the Company with such other pertinent  information concerning such business activity as the Company may reasonably request  in  order  to  determine  your  continued  compliance  with  your  obligations  under this  Countries Addendum A.   17.   Certain Limitations.        (a)   Nothing  in this  Countries  Addendum  A prohibits  you  from  reporting  possible violations of federal law or regulation to any governmental agency or regulatory  authority  or  from  making  other  disclosures  that  are  protected  under  the  whistleblower  provisions of federal law or regulation.  Moreover, nothing in this Countries Addendum A  requires you to notify the Company that you have made any such report or disclosure.   However,  in  connection  with  any  such  activity,  you  acknowledge  you  must  take  reasonable precautions to ensure that any Confidential Information that is disclosed to  such authority is not made generally available to the public, including by informing such  authority of the confidentiality of the same.  You shall not be held criminally or civilly liable under any Federal or State trade secret  law if you disclose a Company trade secret (i) in confidence to a Federal, State, or local  government official, either directly or indirectly, or to an attorney, solely for the purposes  of reporting or investigating a suspected violation of law; or (ii) in a complaint or other  document filed in a lawsuit or other proceeding, if such filing is made under seal.        (b)   Despite the foregoing, you also acknowledge that you are not permitted to  disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any  information learned in the course of your Employment that is protected from disclosure  by  any  applicable  privilege,  including  but  not  limited  to  the  attorney-client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,  and/or  privileges  applicable to information covered by the Bank Secrecy Act (31 U.S.C. §§ 5311-5330),  including  information  that  would  reveal  the  existence  or  contemplated  filing  of  a  suspicious  activity  report.   Your  Employer,  the  Company  and  its  Subsidiaries  do  not  waive any applicable privileges or the right to continue to protect its and their privileged  attorney-client information, attorney work product, and other privileged information.                                                                     *     *    *     *    *   *   *  Entire Agreement.  The Plan and the Agreement constitute the complete understanding  and agreement between the parties to the Agreement with respect to this Award, and  supersedes  and  cancels  any  previous  oral  or  written  discussions,  agreements  or  representations regarding this Award or the Common Stock.                                 B.    AUSTRALIA  ______________________________________________________________________    1.     Award  Conditioned  on  Satisfaction  of  Regulatory  Obligations.  If  you  are  (a) a  director  of  a  Subsidiary  incorporated  in  Australia,  or  (b)  a  person  who  is  a                                     27                                        

 

   management-level executive of a Subsidiary incorporated in Australia and who also is a  director  of  a  Subsidiary  incorporated  outside  of  Australia,  the  grant  of this Award  is  conditioned upon satisfaction of the shareholder approval provisions of section 200B of  the Corporations Act 2001 (Cth) in Australia.      2.    Tax  Deferral.   This  Award  is  intended  to  be  subject  to  tax  deferral  under  Subdivision 83A-C of the Income Tax Assessment Act 1997 (subject to the conditions  and requirements thereunder).    3.    Attached  Offer  Document.  The  terms  of  your  Award  incorporate the rules  of  the Plan, the Agreement, this Countries Addendum and the provisions of the attached  Offer Document.  The Offer Document is hereby incorporated into, and forms an integral  and material part of, the Agreement and this Countries Addendum.  By accepting your  Award,  you  will  be  bound  by  the  rules  of  the  Plan, the Agreement,  this  Countries  Addendum and the attached Offer Document.        4.    Notice  and  Non-Compete. In  consideration  of  your  receipt  of this  Award,  you  expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited,  paid,  delivered  or  repaid,  under  this  Award at any time, including the time you separate from service with your Employer, the  Company and its Subsidiaries.  It is a condition of this Award that, if you fail to comply  with the terms and conditions below, then the Company may in its absolute discretion  determine that any or all of the amounts remaining to be paid under this Award should  be forfeited.  All terms used herein shall have the meaning given to them in the Plan or the Award,  except as otherwise expressly provided herein.     (a)   Notice Period Upon Resignation.             (i)    In order to permit the Company and its Subsidiaries to safeguard their           business  interests  and  goodwill  in  the  event  of  your  resignation  from           Employment for any reason, if you hold the title of Executive Vice President           or higher immediately prior to termination of your Employment, you agree to           give your Employer advance notice of your resignation. The duration of the           advance notice you provide (the “Notice Period”) will be determined by your           title at the time you deliver such notice, as follows—              (1)  If  you  are  a  member  of  the  State  Street  Corporation  Management           Committee, you will give 180 days’ advance notice in writing; and              (2)   If  you  are  an Executive  Vice  President or  higher,  you  will  give  90           days’ advance notice in writing.           For the avoidance of doubt, the Notice Periods set out above shall be subject           always  to  any contractual  obligation  you  have  to  give  a  longer  period  of           notice  of  termination  of  your  Employment  (whether  such  obligation  is           contained in your contract of Employment or any other agreement to which           you are a party).           ii)    During the Notice Period, you will cooperate with your Employer, as well           as the Company and its Subsidiaries, and provide them with any requested           information to assist with transitioning your duties, accomplishing its or their           business,  and/or  preserving  its  or  their  client  relationships. In  its  sole                                     28                                        

 

                        discretion,  during  the  Notice  Period,  your  Employer  or  the  Company  may       place you on a partial or complete leave of absence and relieve you of some       or all of your duties and responsibilities. Except as provided otherwise in (iii)       below,  at  all times  during  the  Notice  Period  you  shall  continue  to  be  an       employee  of  your  Employer,  shall  continue  to  receive  your  regular  salary       and benefits and you will continue to comply with the applicable policies of       your Employer, the Company, and its Subsidiaries. However, you will not be       eligible for any incentive compensation awards made on or after the first day       of the Notice Period or to accrue any vacation save as required by statute.       iii)    In its sole discretion, at any time during the Notice Period, the Company       or  your  Employer  may  release  you  from  your  obligations  under  this       Paragraph (a) by giving immediate effect to your resignation and making a       payment of basic salary in lieu of any remaining portion of the Notice Period;       provided  that  such  action  shall  not  affect  your  other  obligations  under  this       Addendum.    b)  Non-Competition.       i)   This Paragraph (b) shall apply to you at any time that you hold the title of       Executive  Vice  President  or  higher  and  following  the  termination  of  your       Employment where you held the title of Executive Vice President or higher       immediately prior to such termination.       ii)   During your Employment and for the 12 months following its termination       for  any  reason,  you  will  not  within  the  Restricted  Territory,  directly  or       indirectly,  whether  as  owner,  director,  partner,  investor,  consultant,  agent,       employee, co-venturer or otherwise and whether alone or in conjunction with       or on behalf of any other person:            (1) become  engaged,  employed,  concerned  or  interested  in  or            provide  technical,  commercial  or  professional  advice  to,  any  Person            which supplies or provides (or intends to supply or provide) Products or            Services  in  competition  with  such  parts  of  the  business  of  the            Employer  or  any  Relevant  Group  Company  with  which  you  were            materially  engaged  or  involved  or for  which  you  were  responsible            during the Relevant Period;            (2) compete with your Employer or any Relevant Group Company, or            undertake any planning for any business competitive with the business            of your Employer or any Relevant Group Company;            (3) engage in any manner in any activity that is directly or indirectly            competitive  or  potentially  competitive  with  the  business  of  your            Employer,  or  any  Relevant  Group  Company  as  conducted  or  under            consideration during the Relevant Period and further agree not to work            or  provide  services,  in  any  capacity,  whether  as  an  employee,            independent  contractor  or  otherwise,  whether  with  or  without            compensation, to any Person who is engaged in any business that is            competitive with the business of your Employer or any Relevant Group            Company, as conducted or in planning during the Relevant Period.        iii)   The period of 12 months referred to in Paragraph 3(b)(ii) above will be       reduced by one day for every day during which, at the Employer’s direction,                                 29                                    

 

                         you  are  on  a  complete  leave  of  absence pursuant  to  Paragraph  3(a)(ii)        above.        iv)   Nothing  in  this  Paragraph  (b)  shall  prevent  your  passive  ownership  of        two  percent  (2%)  or  less  of  the  equity  securities  of  any  publicly  traded        company.  c) Definitions.  For the purpose of this Clause 4, the following terms are defined     as follows:          i) “Client” means a current or former customer or client of the Company or        any of its Subsidiaries with whom you have had, or with whom persons you        have  supervised  have  had,  substantive  and  recurring  personal  contact        during the Relevant Period. A former customer or client means a customer        or client for which the Company or any of its Subsidiaries stopped providing        all  services  within  twelve  months  prior  to  the  date  your  Employment  with        your Employer ends.          ii)  “Products  or  Services” means  any  products  or  services  which  are  the        same as, of the same kind as, of a materially similar kind to, or competitive        with,  any  products  or  services  supplied  or  provided  by  your  Employer  or        Relevant Group Company and with which you were materially concerned or        connected within the Relevant Period.        iii)   “Person” means an individual, a corporation, a limited liability company,        an association, a partnership, a limited liability partnership, an estate, a trust        and  any  other  entity  or  organization  (whether  conducted  on  its  own  or  as        part of a wider entity), other than your Employer, the Company or any of its        Subsidiaries.        iv)   “Relevant  Group  Company”  means  the  Company  and/or  any        Subsidiaries for which  you have performed services or in respect of which        you have had operational or managerial responsibility at any time during the        Relevant Period.        v)  “Relevant Period” means the period of 24 months immediately before the        date of termination of your Employment, or (where such provision is applied)        the  date  of  commencement  of  any  period  of  complete  leave  of  absence        pursuant to Paragraph 3(a)(ii).        vi)   “Restricted Territory” means any area or territory:             (1) in which you worked during the Relevant Period; and/or             (2) in relation to which you were responsible for, or materially involved           in, the supply of Products or Services in the Relevant Period.        vii)  “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under        common control with the Company, including direct and indirect subsidiaries.  d) Post-Employment Cooperation.  You agree that, following the termination of     your  Employment  with  the  Company  and  its  Subsidiaries,  you  will  reasonably     cooperate  with  the  Company  or  the  relevant  Subsidiary  with  respect  to  any     matters arising during or related to your Employment, including but not limited to     reasonable  cooperation  in  connection  with  any  litigation,  governmental     investigation,  or  regulatory  or  other  proceeding  (even  if  such  litigation,     governmental  investigation,  or  regulatory  or  other  proceeding  arises  following                                  30                                     

 

                      the  date  of  this  Award  to  which  this  Addendum  is  appended  or  following  the     termination of your Employment).  The Company or any of its Subsidiaries shall     reimburse  you  for  any  reasonable  out-of-pocket  and  properly  documented     expenses you incur in connection with such cooperation.  e) Enforcement.  You acknowledge and agree that the promises contained in this     Clause 3 are necessary to the protection of the legitimate business interests of     your Employer, the Company and its Subsidiaries, including without limitation its     and their confidential information, trade secrets and goodwill, and are material     and integral to the undertakings of the Company under this Award to which this     Addendum is appended.  You further agree that one or more of your Employer,     the Company and its Subsidiaries will be irreparably harmed in the event you do     not perform such provisions in accordance with their specific terms or otherwise     breach the promises made herein.  Accordingly, your Employer, the Company     and  any  of  its  Subsidiaries  shall  each  be  entitled  to  preliminary  or  permanent     injunctive or other equitable relief or remedy without the need to post bond, and     to recover its or their reasonable attorney’s fees and costs incurred in securing     such relief, in addition to, and not in lieu of, any other relief or remedy at law to     which it or they may be entitled, including the immediate forfeiture of any as-yet     unvested portion of the Award.   f) No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries     in  exercising  any  right  under  this  Addendum  shall operate  as  a  waiver  of  that     right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the  provisions     herein provided by your Employer, the Company or any of its Subsidiaries must     be in writing, is effective only in that instance, and may not be construed as a     broader waiver of rights or as a bar to enforcement of the provision(s) at issue     on any other occasion.  g) Relationship to Other Agreements.  This  Addendum  supplements  and  does     not limit, amend or replace any other obligations you may have under applicable     law or any other agreement or understanding you may have with your Employer,     the Company or any of its Subsidiaries or pursuant to the applicable policies of     any  of  them,  whether  such  additional  obligations  have  been  agreed  to  in  the     past, or are agreed to in the future.  h) Interpretation  of  Business  Protections.  The  agreements  made  by  you  in     Paragraphs  3(a)  and  3(b)  above  shall  be  construed  and  interpreted  in  any     judicial  or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the     maximum extent permitted by law, and each of the provisions to this Addendum     is  severable  and  independently  enforceable  without  reference  to  the     enforcement of any other provision.  Consistent with the Restraint of Trade Act     1976 (NSW), if any restriction set forth in this Clause 3 is found by any court of     competent  jurisdiction to  be  unenforceable  because  it  extends  for  too  long  a     period of time or over too great a range of activities or in too broad a geographic     area,  it  shall  be  interpreted  to  extend  only  over  the  maximum  period  of  time,     range of activities or geographic area as to which it may be enforceable.  i) Assignment.  Except  as  provided  otherwise  herein,  this  Addendum  shall  be     binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective     successors  and  assigns,  including  any  person  or  entity  which  acquires  the     Company or its assets or business; provided, however, that your obligations are     personal and may not be assigned by you.                                   31                                     

 

      j) Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will  be        deemed to have acknowledged and agreed that you are bound by the terms of        this Addendum, and it shall be deemed to have been accepted by the Company.     k) Notification  Requirement. During  the  period  of  restriction  under  Paragraph        3(b) above and for a further 45 days after that period of restriction has expired,        you shall give notice to the Company of each new business activity you plan to        undertake, at least 5 business days prior to beginning any such activity.  Such        notice shall state the name and address of the Person for whom such activity is        undertaken and the nature of your business relationship(s) and position(s) with        such  Person.   You  shall  provide  the  Company  with  such  other  pertinent        information concerning such business activity as the Company may reasonably        request in order to determine your continued compliance with your obligations        under this Addendum.     l) Certain Limitations        i) Nothing in this Addendum prohibits you from reporting possible violations of           United  States  federal  law  or  regulation  to  any  governmental  agency  or           regulatory authority or from making other disclosures that are protected under           the  whistleblower  provisions  of  United  States  federal  law  or  regulation.            Moreover, nothing in this Addendum requires you to notify the Company that           you have made any such report or disclosure.  However, in connection with           any such activity, you acknowledge you must take reasonable precautions to           ensure that any confidential information that is disclosed to such authority is           not  made  generally  available  to  the  public,  including  by  informing  such           authority of the confidentiality of the same.        ii) Despite  the  foregoing,  you  also  acknowledge  that  you  are  not  permitted  to           disclose  to  any  third-party,  including  any  governmental  or  regulatory           authority, any information learned in the course of your Employment that is           protected from disclosure by any applicable privilege, including but not limited           to  the  attorney-client  privilege,  attorney  work  product  doctrine,  the  bank           examiner’s  privilege,  and/or  privileges  applicable  to  information  covered  by           the  Bank  Secrecy  Act  (31  U.S.C.  §§  5311-5330),  including  information  that           would  reveal  the  existence  or  contemplated  filing  of  a  suspicious  activity           report.  Your Employer, the Company and its Subsidiaries do not waive any           applicable privileges or the right to continue to protect its and their privileged           attorney-client  information,  attorney  work  product,  and  other  privileged           information.                                         C.    AUSTRIA                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                           D.    BELGIUM                                     32                                        

 

                                                    ______________________________________________________________________    No country-specific provisions.                                                                                                            E.    BRAZIL                                        ______________________________________________________________________          1.    Compliance  with  Law.   By  accepting  the Award, you expressly  acknowledge and agree to comply with applicable Brazilian laws and to pay any and all  applicable taxes associated with the vesting of the Award, the receipt of any dividends,  and the sale of shares of Common Stock acquired under the Plan.                2.    Labor  Law  Acknowledgment.   You expressly  acknowledge and agree  that, for all legal purposes, (a) the benefits provided pursuant to the Agreement and the  Plan  are  the  result  of  commercial  transactions  unrelated  to  your  Employment;  (b)  the  Agreement and the Plan are not a part of the terms and conditions of your Employment;  and (c) the income you realize from the Award, if any, is not part of your remuneration  from Employment.            BY  ELECTRONICALLY  ACCEPTING  THE   AGREEMENT    AND  THIS  COUNTRIES  ADDENDUM,  YOU  ACKNOWLEDGE,  UNDERSTAND  AND  AGREE  TO  THE  TERMS  AND  CONDITIONS  OF  THE  PLAN,  YOUR AGREEMENT    AND  THIS COUNTRIES  ADDENDUM.                                                                           F.    CANADA  ______________________________________________________________________          1.    Settlement in Shares of Common Stock.  Notwithstanding anything to  the contrary in the Agreement, this Countries Addendum or the Plan, your Award shall  be settled only in shares of Common Stock (and may not be settled in cash).          2.    Use of English Language.  The following provision will apply if you are a  resident of Quebec:          You acknowledge and agree that it is your express wish that the Agreement, as        well  as  all  documents,  notices  and  legal  proceedings  entered  into,  given  or        instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in        English.          In French:          Vous  reconnaissez  et  consentez  que  c’est  votre  souhait  exprès  qui  cet        accord,  de  même  que  tous  documents,  toutes  notifications  et  tous        procédés  légaux  est  entré  dans,  donné  ou  instituté  conformément  ci-                                    33                                        

 

         annexé  ou  relatant  directement  ou  indirectement  ci-annexé,  est  formulé        dans l’anglais.                Une version française de cet Accord peut être consultée sur l’intranet.                                  G.    CAYMAN ISLANDS                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                                                                   H.    CHINA  ______________________________________________________________________          1.    Award Conditioned on Satisfaction of Regulatory Obligations.  If you  are a national of the Peoples’ Republic of China (“PRC”), this Award is conditioned upon  the  Company  securing  all  necessary  approvals  from  the  PRC  State  Administration  of  Foreign Exchange (“SAFE”) to permit the operation of the Plan and the participation of  PRC  nationals  employed  by  the  Company  or  a  Subsidiary,  as  determined  by  the  Company in its sole discretion.         2.    Common Stock Must Remain With Equity Administrator.  You agree  to  hold  the  shares  of Common  Stock received  upon  settlement  of this Award  with  the  Equity Administrator until the shares are sold.         3.    Exchange Control Restrictions.  You understand and agree that, if you  are  subject  to  exchange  control  laws  in  China,  you  will  be  required  immediately  to  repatriate to China the proceeds from the sale of any shares of Common Stock acquired  under  the  Plan.   You  further  understand  that  such  repatriation  of  proceeds  shall  be  effected through a special bank account established by the Company, and you hereby  consent  and  agree  that  proceeds  from  the  sale  of  shares  of Common  Stock acquired  under the Plan may be transferred to such account by the Company on your behalf prior  to being delivered to you and that no interest shall be paid with respect to funds held in  such account.  The proceeds may be paid to you in U.S. dollars or local currency at the  Company’s discretion.  If the proceeds are paid to you in U.S. dollars, you understand  that a U.S. dollar bank account in China must be established and maintained so that the  proceeds may be deposited into such account.  If the proceeds are paid to you in local  currency,  you  acknowledge  that  the  Company  is  under  no  obligation  to  secure  any  particular  exchange  conversion  rate  and  that  the  Company  may  face  delays  in  converting  the  proceeds  to  local  currency  due  to  exchange  control  restrictions.   You  agree  to  bear  any  currency  fluctuation  risk  between  the time  the  shares  of Common  Stock are sold and the net proceeds are converted into local currency and distributed to  you.  You further agree to comply with any other requirements that may be imposed by  the  Company  in  the  future  in  order  to  facilitate  compliance  with  exchange  control  requirements in China.                                     34                                        

 

         4.    Sale of Shares upon Termination of Employment.  If you are a PRC  national  and  you  cease  to  be  employed  by  the  Company  and  its  Subsidiaries  for  any  reason, you will be required to sell all shares of Common Stock acquired upon vesting of  this Award within such time frame as may be required by the SAFE or the Company (in  which case, by accepting this Award, you hereby expressly authorize the Company to  issue sales instructions on your behalf).  You agree to sign any additional agreements,  forms  and/or  consents  that  reasonably  may  be  requested  by  the  Company  (or  the  Company’s designated brokerage firm) to effectuate the sale of the shares of Common  Stock (including,  without  limitation,  as  to  the  transfer  of  the  sale  proceeds  and  other  exchange control matters noted above) and shall otherwise cooperate with the Company  with  respect  to  such  matters.   You  acknowledge  that  neither  the  Company  nor  the  designated brokerage firm is under any obligation to arrange for such sale of shares of  Common Stock at any particular price (it being understood that the sale will occur in the  market) and that broker’s fees and similar expenses may be incurred in any such sale.   In any event, when the shares of Common Stock are sold, the sale proceeds, less any  withholding of  Tax-Related  Items,  any  broker’s  fees  or  commissions,  and  any  similar  expenses  of  the  sale  will  be  remitted  to  you  in  accordance  with  applicable  exchange  control laws and regulations.         5.    Administration.  The Company shall not be liable for any costs, fees, lost  interest  or  dividends  or  other  losses  you  may  incur  or  suffer  resulting  from  the  enforcement of the terms of this Countries Addendum or otherwise from the Company’s  operation  and  enforcement  of  the  Plan, the Agreement and this Award  in  accordance  with  Chinese  law  including,  without  limitation,  any  applicable  SAFE  rules,  regulations  and requirements.                                                                      I.    DENMARK  _____________________________________________________________________  _  1. Danish Stock Option Act. In accepting the Award, you acknowledge  and  agree  that  the  Award  may  be  subject  to  additional  terms  and  conditions,  to  the  extent the Danish Stock Option Act applies to the Award.                                                                       J.    FRANCE  ______________________________________________________________________            1.    No country-specific provisions.                                  K.    GERMANY                                                   ______________________________________________________________________    Subsection (a)(ii) of Section 4 General Circumstances of Forfeiture shall not apply to an  Award subject to this Agreement.                                          35                                        

 

                                                                                                                                                L.    HONG KONG  ______________________________________________________________________          1.    IMPORTANT NOTICE.  WARNING: The contents of the Agreement, this  Countries Addendum, the Plan, and all other materials pertaining to this Award and/or  the  Plan  have  not  been  reviewed  by  any  regulatory  authority  in  Hong  Kong.   You  are  hereby advised to exercise caution in relation to the offer thereunder.  If you have any  doubts  about  any  of  the  contents  of  the  aforesaid  materials,  you  should  obtain  independent professional advice.          2.    Nature of the Plan.  The Company specifically intends that the Plan will  not be treated as an occupational retirement scheme for purposes of the Occupational  Retirement  Schemes  Ordinance  (“ORSO”).   To  the extent  any  court,  tribunal  or  legal/regulatory body in Hong Kong determines that the Plan constitutes an occupational  retirement scheme for the purposes of ORSO, the grant of the Deferred Shares shall be  null and void.                3.    Settlement in Shares of Common Stock.  Notwithstanding Section 2(b)  of the Agreement, this Award shall be paid in shares of Common Stock only and does  not provide any right for you to receive a cash payment.                4.    Award  Benefits  Are  Not  Wages.   This  Award  and  the  shares  of  Common Stock underlying this Award do not form part of your wages for purposes of  calculating any statutory or contractual payments under Hong Kong Law.                5.    Notice  and  Non-Compete.   In  consideration  of  your  receipt  of  this  Award,  you  expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard to whether or not any amount has been forfeited, paid, delivered or repaid, under  this Award at any time, including the time you separate from service with your Employer,  the  Company  and  its  Subsidiaries.   It  is  a  condition  of  this  Award  that,  if  you  fail  to  comply  with  the  terms  and  conditions  below,  then  the  Company  may  in  its  absolute  discretion  determine  that  any  or  all  of  the  amounts  remaining  to  be  paid  under  this  Award should be forfeited.  All terms used herein shall have the meaning given to them in the Plan or this Award,  except as otherwise expressly provided herein.   (a)  Notice Period Upon Resignation.          (i)   In  order  to  permit  your  Employer,  the  Company  and  its  Subsidiaries  to        safeguard their business interests and goodwill in the event of your resignation        from Employment for  any  reason,  you  agree  to  give  your  Employer  advance        notice of your resignation.  The duration of the advance notice you provide (the        “Notice  Period”)  will  be  determined  by  your  title  at the  time  you  deliver  such        notice, as follows:              (1)   If you are a member of the State Street Corporation Management              Committee, you will give 180 days’ advance notice; and              (2)   If you are an Executive Vice President or higher, you will give 90              days’ advance notice.                                      36                                        

 

                              (3)   For the avoidance of doubt, the Notice Periods set out above shall             be subject always to any contractual obligation you have to give a longer             period  of  notice  of  termination  of  your Employment (whether  such             obligation  is  contained  in  your  contract  of Employment or  any  other             agreement to which you are a party).       (ii)  During the Notice Period, you will cooperate with your Employer, as well       as  the  Company  and  its  Subsidiaries,  and  provide  them  with  any  requested       information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their       business, and/or preserving its or their client relationships.  In its sole discretion,       during  the  Notice  Period,  your  Employer  or  the  Company  may  place  you  on  a       partial or complete leave of absence and relieve you of some or all of your duties       and  responsibilities.  Except  as  provided  otherwise  in  (iii)  below,  at  all  times       during the Notice Period you shall continue to be an employee of your Employer,       shall continue to receive your regular salary and benefits and you will continue to       comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its       Subsidiaries.  However, you  will not be eligible  for any incentive compensation       awards  made  on  or  after  the  first  day  of  the  Notice  Period  or  to  accrue  any       vacation save as required by statute.         (iii) In its sole discretion, at any time during the Notice Period, the Company       or your Employer may release you from your obligations under this Section 5 by       giving immediate effect to your resignation and making a payment in lieu of any       notice due; provided that such action shall not affect your other obligation under       this Countries Addendum.    (b)  Non-Competition.       (i)   This Paragraph (b) shall apply to you at any time that you hold the title of       Executive Vice President or higher.       (ii)  During your Employment and for the 6 months following its termination for       any  reason,  you  will  not  within  the  Restricted  Territory,  directly  or  indirectly,       whether  as  owner,  director,  partner,  investor,  consultant,  agent,  employee,  co-      venturer  or  otherwise  and  whether  alone  or  in  conjunction  with  or  on  behalf of       any other person:             (1)   become  engaged,  employed,  concerned  or  interested  in  or             provide  technical,  commercial  or  professional  advice  to,  any  Person             which supplies or provides (or intends to supply or provide) Products or             Services in competition with such parts of the business of the Employer or             any Relevant Group Company with which you were materially engaged or             involved or for which you were responsible during the Relevant Period;             (2)   compete with your Employer or any Relevant Group Company, or             undertake any planning for any business competitive with the business of             your Employer or any Relevant Group Company;             (3)   engage in any manner in any activity that is directly or indirectly             competitive or potentially competitive with the business of your Employer,             or  any  Relevant  Group  Company  as  conducted  or  under  consideration             during  the  Relevant  Period  and  further  agree  not  to  work  or  provide             services,  in  any  capacity,  whether  as  an  employee,  independent             contractor  or  otherwise,  whether  with  or  without  compensation,  to  any             Person  who  is  engaged  in  any  business  that  is  competitive  with  the                                    37                                       

 

                              business  of  your  Employer  or  any  Relevant  Group  Company,  as             conducted or in planning during the Relevant Period.        (iii) The  period  of  6  months  referred  to  in Paragraph  (b)(ii)  above  will  be       reduced by one day for every day during which, at the Employer’s direction, you       are on a complete leave of absence pursuant to Paragraph (ii)  above.       (iv)  Nothing in this Paragraph 4 shall prevent your passive ownership of two       percent (2%) or less of the equity securities of any publicly traded company.       (c)   Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:         (i)   “Client” means a present or former customer or client of your Employer,       the Company or any of its Subsidiaries with whom you have had, or with whom       persons  you  have  supervised  have  had,  substantive  and  recurring  personal       contact  during  the  Relevant  Period.  A  former  customer  or  client  means  a       customer  or  client  for  which  your  Employer,  the  Company  or  any  of  its       Subsidiaries stopped providing all services within twelve months prior to the date       your Employment with your Employer ends.         (ii)  “Products  or  Services”  means  any  products  or  services  which  are  the       same as, of the same kind as, of a materially similar kind to, or competitive with,       any  products  or  services  supplied  or  provided  by  your  Employer  or  Relevant       Group  Company  and  with  which  you  were  materially  concerned  or  connected       within the Relevant Period.       (iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,       an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or       organization  (whether  conducted  on  its  own  or  as  part  of  a  wider  entity),  other       than your Employer, the Company or any of its Subsidiaries.       (iv)  “Relevant Group Company” means the Company and/or any Subsidiaries       for  which  you  have  performed  services  or  in  respect  of  which  you  have  had       operational or managerial responsibility at any time during the Relevant Period.       (v)    “Relevant Period” means the period of 24 months immediately before the       date of termination of your Employment, or (where such provision is applied) the       date of commencement of any period of complete leave of absence pursuant to       Paragraph 4(a)(ii).       (vi)  “Restricted Territory” means any area or territory:             (1)   in which you worked during the Relevant Period; and/or             (2)   in relation to which you were responsible for, or materially involved             in, the supply of Products or Services in the Relevant Period.       (vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under       common control with the Company, including direct and indirect subsidiaries.       (d)   Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with  your  Employer,  you  will  reasonably  cooperate  with  your  Employer,  the  Company  or  the  relevant  Subsidiary  with  respect  to  any  matters  arising  during  or  related  to  your Employment,  including  but  not  limited  to  reasonable cooperation in connection with any litigation, governmental investigation, or  regulatory or other proceeding (even if such litigation, governmental investigation, or  regulatory  or other  proceeding  arises  following  the  date  of  this  Award  to  which this                                    38                                       

 

                   Countries  Addendum is appended  or following  the  termination  of  your Employment).   Your  Employer,  the  Company  or  any  of  its  Subsidiaries  shall  reimburse  you  for  any  reasonable out-of-pocket and properly documented expenses you incur in connection  with such cooperation.       (e)   Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests  of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  confidential  information,  trade  secrets  and  good  will,  and  are  material and integral to the undertakings of the Company under this Award to which  this  Countries  Addendum is  appended.   You further  agree  that  one  or more  of  your  Employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly,  your  Employer,  the  Company and any of its Subsidiaries shall each be entitled to preliminary or permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post  bond,  and  to  recover  its  or  their  reasonable  attorney’s  fees  and  costs  incurred  in  securing  such  relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or  they may be entitled, including the immediate forfeiture of any as-yet unvested portion  of  this Award.  You  further  agree  that,  the  periods  of  restriction  contained  in this  Countries Addendum shall be tolled, and shall not run, during any period in which you  are in violation of the terms of this Countries Addendum, so that your Employer, the  Company  and  its  Subsidiaries  shall  have  the full  protection  of  the  periods  agreed  to  herein.       (f)   No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.   Any  waiver  or  consent  as  to  any  of  the  provisions herein provided by your Employer, the Company or any of its Subsidiaries  must be in writing, is effective only in that instance, and may not be construed as a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.       (g)   Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law or any other agreement or understanding you may have with your Employer, the  Company  or  any  of  its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of  them,  whether  such  additional  obligations  have  been  agreed  to  in  the  past,  or  are  agreed to in the future.       (h)   Interpretation of Business Protections.  The agreements made by you  in Paragraphs 4(a) and 4(b) above shall be construed and interpreted in any judicial or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum  extent  permitted by law, and each of the provisions to this Countries Addendum is severable  and  independently  enforceable  without  reference  to  the  enforcement  of  any  other  provision.  If any restriction set forth in this Countries Addendum is found by any court  of competent jurisdiction to be unenforceable because it extends for too long a period  of time or over too great a range of activities or in too broad a geographic area, it shall  be interpreted to extend only over the maximum period of time, range of activities or  geographic area as to which it may be enforceable.       (i)   Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum  shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their                                    39                                       

 

    respective successors and assigns, including any person or entity which acquires the   Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are   personal and may not be assigned by you.         (j)   Electronic Acceptance.  By accepting this Award electronically, you will   be deemed to have acknowledged and agreed that you are bound by the terms of this   Countries  Addendum,  and  it  shall  be  deemed  to  have  been  accepted  by  your   Employer and the Company.        (k)   Notification  Requirement.  Until  45  days  after  the  period  of  restriction   under  Paragraph  (b)  expires,  you  shall  give  notice  to  your  Employer  of  each  new   business activity you plan to undertake, at least 5 business days prior to beginning any   such activity.  Such notice shall state the name and address of the Person for whom   such  activity  is  undertaken  and  the  nature  of  your  business  relationship(s)  and   position(s)  with  such  Person.   You  shall  provide  your  Employer  with  such  other   pertinent  information  concerning  such  business  activity  as  your  Employer  or  the   Company  may  reasonably  request  in  order  to  determine  your  continued  compliance   with your obligations under this Countries Addendum.        (l)   Certain Limitations        (i)   Nothing this  Countries  Addendum prohibits  you  from  reporting  possible        violations of federal law or regulation to any governmental agency or regulatory        authority  or  from  making  other  disclosures  that  are  protected  under  the        whistleblower provisions of federal law or regulation.  Moreover, nothing in this        Countries Addendum requires you to notify your Employer or the Company that        you have made any such report or disclosure.  However, in connection with any        such activity, you acknowledge you must take reasonable precautions to ensure        that any confidential information that is disclosed to such authority is not made        generally  available  to  the  public,  including  by  informing  such  authority  of  the        confidentiality of the same.        (ii)  Despite the foregoing, you also acknowledge that you are not permitted to        disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,        any information learned in the course of your Employment that is protected from        disclosure  by  any  applicable  privilege,  including but  not  limited  to  the  attorney-       client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,        and/or privileges applicable to information covered by the Bank Secrecy Act (31        U.S.C.  §§  5311-5330),  including  information that  would  reveal  the  existence  or        contemplated filing of a suspicious activity report.  Your Employer, the Company        and its Subsidiaries do not waive any applicable privileges or the right to continue        to  protect  its  and  their  privileged  attorney-client  information,  attorney  work        product, and other privileged information.                                     M.    INDIA                                                   ____________________________________________________________________    No country-specific provisions.                                                                                                                  40                                        

 

                                                                     N.    IRELAND  ______________________________________________________________________                                                                              In consideration of your receipt of this Award, you expressly agree to comply  with the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid, delivered or repaid, under this Award at any time, including the time you  separate  from  service  with  your  Employer,  the Company  and  its  Subsidiaries.   Your  failure  to  comply  with  the  terms  and  conditions  below  may  result  in  the  sole  determination of the Company in the forfeiture of any or all of the amounts remaining to  be paid under this Award.  All  terms  and  defined  terms used  herein  shall  have  the  meaning given  to  them  in the  Plan or this Award, except as otherwise expressly provided herein.   1.    Notice Period Upon Resignation.          (a)   In  order  to  permit  your  Employer,  the  Company  and  its  Subsidiaries  to  safeguard  their  business  interests  and  goodwill  in  the  event  of  your  resignation  from  Employment for  any  reason,  you  agree  to give  your  Employer  advance  notice  of  your  resignation.  The duration of the advance notice you provide (the “Notice Period”) will be  determined by your title at the time you deliver such notice, as follows—              (i)   If you are a member of the State Street Corporation Management              Committee, you will give 180 days’ advance written notice; and              (ii)  If you are an Executive Vice President or higher, you will give 90              days’ advance written notice.               (iii) For the avoidance of doubt, the Notice Periods set out above shall              be subject always to any contractual obligation you have to give a longer              period  of  notice  of  termination  of  your Employment (whether  such              obligation  is  contained  in  your  contract  of Employment or  any  other              agreement to which you are a party).        (b)   During the Notice Period, you will cooperate with your Employer, as well  as the Company and its Subsidiaries, and provide them with any requested information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or  preserving its or their client relationships.  In its sole discretion, during the Notice Period,  your Employer or the Company may place you on a partial or complete leave of absence  otherwise  known  as  “garden  leave”  and  relieve  you  of  some  or  all  of  your  duties  and  responsibilities and to cease attending your place of work and/or to cease contact with  the Employer’s employees and customers.  During any period of garden leave, you will  remain  subject  to  the  provisions  of  this  agreement  and  to  your  obligation  of  fidelity  to  your  Employer,  the  Company  and  its  Subsidiaries.  Except  as  provided  otherwise  in  Paragraph (d) below, at all times during the Notice Period you shall continue to be an  employee of your Employer, shall continue to receive  your regular salary and benefits  and  you  will  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its  Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive  compensation awards made on or after the first day of the Notice Period or, subject to  applicable law, to accrue any paid vacation time.        (c)   You agree that should you fail to provide advance written notice of your  resignation as required in this Paragraph 1, your Employer, the Company or any of its                                     41                                        

 

   Subsidiaries shall be entitled to seek injunctive relief restricting you from employment for  a  period  equal  to  the  period  for  which  notice  of resignation  was  required  but  not  provided, in addition to any other remedies available under law.         (d)   In its sole discretion, at any time during the Notice Period, the Company  or  your  Employer  may  release  you  from  your  obligations  under  this  Paragraph  1,  and  give immediate effect to your resignation and make a payment of basic salary in lieu of  any notice due; provided that such action shall not affect your other obligation under this  Countries Addendum.          2.    Non-Competition.        (a)   This Paragraph 2 shall apply to you at any time that you hold the title of  Executive  Vice  President  or  higher  with  the  Employer  and/or  the  Company  or  its  Subsidiaries.        (b)   During  your Employment and  for  the  six  months (such  period  to  be  reduced by the duration of the Notice Period as defined in Paragraph 1 above) following  its  termination  for  any  reason,  you  will  not,  directly  or  indirectly,  whether  as  owner,  partner,  investor,  consultant,  agent,  employee,  co-venturer  or  otherwise,  compete  with  your Employer, the Company or any of its Subsidiaries within the island of Ireland or the  United  Kingdom,  or  undertake  any  planning  for  any  business  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries.   Specifically,  but  without limiting the foregoing, you agree not to engage in any manner in any activity that  is  directly  or  indirectly  competitive  or  potentially  competitive  with  the  business  of  your  Employer, the Company or any of its Subsidiaries as conducted or under consideration  at any time during your Employment and further agree not to work or provide services, in  any  capacity,  whether  as  an  employee,  independent  contractor  or  otherwise,  whether  with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business  that  is  competitive with the business of your Employer, the Company or any of its Subsidiaries  for  which  you  have  provided  services,  as  conducted  or  in  planning  during  your  Employment. The foregoing, however, shall not prevent your passive ownership of two  percent (2%) or less of the equity securities of any publicly traded company.        3.    Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:          (a)   “Client” means a present or former customer or client of the Company or  any  of  its  Subsidiaries  with  whom  you  have  had,  or  with  whom  persons  you  have  supervised  have  had,  substantive  and  recurring  personal  contact  during  your  Employment with the Company or any of its Subsidiaries.  A former customer or client  means a customer or client for which the Company or any of its Subsidiaries stopped  providing all services within twelve months prior to the date your Employment with your  Employer ends.          (b)    “Person” means an individual, a corporation, a limited liability company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other than your Employer, the Company or any of its Subsidiaries.         (c)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common control with the Company, including direct and indirect subsidiaries and has the  meaning assigned to such by section 7 of the Companies Act 2014.        4.    Post-Employment  Cooperation.   You  agree  that,  following  the  termination of your Employment with the Company and its Subsidiaries, you will make                                     42                                        

 

   yourself  available  and  reasonably  cooperate  with  the  Company  or  the  relevant  Subsidiary or their advisers with respect to any matters arising during or related to your  Employment, including but not limited to reasonable cooperation in connection with any  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding  (even  if  such  litigation, governmental investigation, or regulatory or other proceeding arises following  the date of this Award to which this Countries Addendum is appended or following the  termination  of  your Employment).   The  Company  or  any  of  its  Subsidiaries  shall  reimburse you for any reasonable out-of-pocket and properly documented expenses you  incur in connection with such cooperation provided that such expenses are approved in  advance by the Company or Employer.        5.    Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests of your Employer, the Company and its Subsidiaries, including without limitation  its and their Confidential Information, trade secrets and good will, and are material and  integral  to the  undertakings  of the  Company  under  this  Award  to  which this  Countries  Addendum is  appended.   You  further  agree  that  one  or  more  of  your  Employer,  the  Company and its Subsidiaries will be irreparably harmed in the event you do not perform  such provisions in accordance with their specific terms or otherwise breach the promises  made  herein.   Accordingly,  your  Employer,  the  Company  and  any  of  its  Subsidiaries  shall each be entitled to preliminary or permanent injunctive or other equitable relief or  remedy  without  the  need  to  post  bond,  and  to  recover  its  or  their  reasonable  attorney’s/legal fees and costs incurred in securing such relief, in addition to, and not in  lieu of, any other relief or remedy at law to which it or they may be entitled, including the  immediate forfeiture of any as-yet unvested portion of the Award.  You further agree that,  the periods of restriction contained in this Countries Addendum shall be tolled, and shall  not  run,  during  any  period  in  which  you  are  in  violation  of  the  terms  of this  Countries  Addendum, so that your Employer, the Company and its Subsidiaries shall have the full  protection of the periods agreed to herein.        6.    No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the  provisions  herein  provided  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance,  and  may  not  be  construed  as  a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.        7.    Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law  or  any  other  agreement  or  understanding  you  may  have  with  your  Employer,  the  Company or any of its Subsidiaries or pursuant to the applicable policies of any of them,  whether such additional obligations have been agreed to in the past, or are agreed to in  the future.        8.    Interpretation of Business Protections.  The agreements made by you  in Paragraphs 1 and 2 above shall be construed and interpreted in any judicial or other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by  law,  and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently enforceable without reference to the enforcement of any other provision.   If any restriction set forth in this Countries Addendum is found by any court of competent  jurisdiction to be unenforceable because it extends for too long a period of time or over  too great a range of activities or in too broad a geographic area, it shall be interpreted to                                     43                                        

 

   extend only over the maximum period of time, range of activities or geographic area as  to which it may be enforceable.        9.    Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors  and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal and may not be assigned by you.         10.   Electronic Acceptance.  By accepting this Award electronically, you will  be deemed to have acknowledged and agreed that you are bound by the terms of this  Countries Addendum, and it shall be deemed to have been accepted by the Company.        11.   Notification  Requirement.  Until  45  days  after  the  period  of  restriction  under Paragraph 2 expires, you shall give notice to the Company of each new business  activity  you  plan  to  undertake,  at  least  5  business  days  prior  to  beginning  any  such  activity.   Such  notice  shall  state  the  name  and  address  of  the  Person  for  whom  such  activity is undertaken and the nature of your business relationship(s) and position(s) with  such  Person.   You  shall  provide  the  Company  with  such  other  pertinent  information  concerning such business activity as the Company may reasonably request in order to  determine  your  continued  compliance  with  your  obligations  under this  Countries  Addendum.        12.   Certain Limitations.  Nothing in this Countries Addendum prohibits you  from reporting possible violations of law or regulation to any governmental agency or  regulatory authority or from making other relevant disclosures that are protected under  the  whistleblower  provisions  of  federal  law  or  regulation.   Moreover,  nothing  in  this  Countries Addendum requires you to notify the Company that you have made any such  report or disclosure.  However, in connection with any such activity, you acknowledge  you must take reasonable precautions to ensure that any confidential information that is  disclosed to such authority is not made generally available to the public, including by  informing such authority of the confidentiality of the same.                                                                                                            O.    ITALY                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                                                                  P.    JAPAN                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                            Q.    JERSEY                                     44                                        

 

                                                    ______________________________________________________________________    No country-specific provisions.                                                                                                         R.    LUXEMBOURG  ______________________________________________________________________  In consideration of your receipt of this Award, you expressly agree to comply  with the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid, delivered or repaid, under this Award at any time, including the time you  separate  from  service  with  your  Employer,  the  Company  and  its  Subsidiaries.  Your  failure  to  comply  with  the  terms  and  conditions  below  may  result  in  the  sole  determination of the Company in the forfeiture of any or all of the amounts remaining to  be paid under this Award.  All terms used herein shall have the meaning given to them in the Plan or this Award,  except as otherwise expressly provided herein.   1.    Notice Period Upon Resignation.          (a)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their  business interests and goodwill in the event of your resignation from Employment for any  reason, if you hold the title Executive Vice President or higher you are required to give  your Employer advance notice of your resignation as per the legal provisions.         (b)   During the Notice Period, you will cooperate with your employer, as well  as the Company and its Subsidiaries, and provide them with any requested information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or  preserving its or their client relationships.  In its sole discretion, during the Notice Period,  your Employer or the Company may place you on a partial or complete leave of absence  and relieve you of some or all of your duties and responsibilities.  Except as provided  otherwise  in Paragraph (d)  below,  at  all  times  during  the  Notice  Period  you  shall  continue  to  be  an  employee  of  your  Employer,  shall  continue  to  receive  your  regular  salary and benefits and you will continue to comply with the applicable policies of your  Employer, the Company, and its Subsidiaries.  However, you will not be eligible for any  incentive compensation awards made on or after the first day of the Notice Period.         (c)   You  agree that  should  you  fail  to  provide  advance  notice  of  your  resignation as required in this Paragraph 1, your Employer, the Company or any of its  Subsidiaries  shall  be  entitled  to  a  compensatory  payment  in  addition  to  any  other  remedies available under law.         (d)   At any time during the Notice Period and upon your request formulated in  writing, the Company or your Employer may release you from your obligations under this  Section 1, and give immediate effect to your resignation; provided that such action shall  not affect your other obligations under this Countries Addendum.          2.    Non-Competition.        (a)   This Paragraph 2 shall apply to you at any time that you hold the title of  Executive Vice President or higher.                                      45                                        

 

         (b)   During  your Employment you  will  not,  directly  or  indirectly,  whether as  owner, partner, investor, consultant, agent, co-venturer or otherwise, compete with your  Employer, the Company or any of its Subsidiaries in any geographic area in which it or  they  do  business,  or  undertake  any  planning  for  any  business  competitive  with the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries.   Specifically,  but  without limiting the foregoing, you agree not to engage in any manner in any activity that  is  directly  or  indirectly  competitive  or  potentially  competitive  with  the business  of  your  Employer, the Company or any of its Subsidiaries as conducted or under consideration  at any time during your Employment and further agree not to work or provide services, in  any  capacity,  whether  as  an  employee,  independent  contractor  or  otherwise,  whether  with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business  that  is  competitive with the business of your Employer, the Company or any of its Subsidiaries  for  which  you  have  provided  services,  as  conducted  or  in  planning  during  your  Employment. The foregoing, however, shall not prevent your passive ownership of two  percent (2%) or less of the equity securities of any publicly traded company.        (c)   For  the  12  months  after  you  leave  the  company,  whatever  the  reason,  you  will  not,  directly  or  indirectly,  as  a  self-employed  person  whether  as  owner,   co- venturer  or  otherwise,  compete  with  your  Employer,  the  Company  or  any  of  its  Subsidiaries in any geographic area in which it or they do business, or undertake any  planning for any business competitive with the business of your Employer, the Company  or  any  of  its  Subsidiaries,  this  area  being  in  any  case  limited  to  the  Grand-Duchy  of  Luxembourg.  Specifically, but without limiting the foregoing, you agree not to engage in  any  manner  as  a  self-employed  person  in  any  activity  that  is  directly  or  indirectly  competitive or potentially competitive with the business of your Employer, the Company  or any of its Subsidiaries as conducted or under consideration at any time during your  Employment.  The foregoing, however, shall not prevent your passive ownership of two  percent (2%) or less of the equity securities of any publicly traded company.        3.    Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:          (a)   “Client” means a present or former customer or client of the Company or  any  of  its  Subsidiaries  with  whom  you  have  had,  or  with  whom  persons  you  have  supervised  have  had,  substantive  and  recurring  personal  contact  during  your  Employment with the Company or any of its Subsidiaries.  A former customer or client  means a customer or client for which the Company or any of its Subsidiaries stopped  providing all services within twelve months prior to the date your Employment with your  Employer ends.          (b)   “Person”  means an  individual,  a  corporation,  a  limited  liability  company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other than your Employer, the Company or any of its Subsidiaries.        (c)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common control with the Company, including direct and indirect subsidiaries.        4.    Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with  the  Company  and  its  Subsidiaries,  you  will  reasonably cooperate with the Company or the relevant Subsidiary with respect to any  matters  arising  during  or  related  to  your Employment,  including  but  not  limited  to  reasonable cooperation in connection with any litigation, governmental investigation, or  regulatory  or other  proceeding  (even  if  such  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding  arises  following  the  date  of  this  Award  to  which this                                     46                                        

 

   Countries  Addendum is  appended  or  following  the  termination  of  your Employment).   The Company or any of its Subsidiaries shall reimburse you for any reasonable out-of- pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation.        5.    Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests of your Employer, the Company and its Subsidiaries, including without limitation  its and their confidential information, trade secrets and good will, and are material and  integral  to the  undertakings  of the  Company  under  this  Award  to  which this  Countries  Addendum is  appended.   You  further  agree  that  one  or  more  of  your Employer,  the  Company and its Subsidiaries will be irreparably harmed in the event you do not perform  such provisions in accordance with their specific terms or otherwise breach the promises  made  herein.   Accordingly,  your  Employer,  the  Company  and  any  of  its  Subsidiaries  shall each be entitled to preliminary or permanent injunctive or other equitable relief or  remedy without the need to post bond, and to recover its or their reasonable attorney’s  fees and costs incurred in securing such relief, in addition to, and not in lieu of, any other  relief  or  remedy  at  law  to  which  it  or  they  may  be  entitled,  including  the  immediate  forfeiture of any as-yet unvested portion of the Award.         6.    No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.   Any  waiver  or  consent  as  to  any  of  the  provisions  herein  provided  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance,  and  may  not  be  construed  as  a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.        7.    Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law  or  any  other  agreement  or  understanding  you  may  have with  your  Employer,  the  Company or any of its Subsidiaries or pursuant to the applicable policies of any of them,  whether such additional obligations have been agreed to in the past, or are agreed to in  the future.        8.    Interpretation of Business Protections.  The agreements made by you  in Paragraphs 1 and 2 above shall be construed and interpreted in any judicial or other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by  law,  and  each  of  the  provisions  to this  Countries Addendum is  severable  and  independently enforceable without reference to the enforcement of any other provision.   If any restriction set forth in this Countries Addendum is found by any court of competent  jurisdiction to be unenforceable because it extends for too long a period of time or over  too great a range of activities or in too broad a geographic area, it shall be interpreted to  extend only over the maximum period of time, range of activities or geographic area as  to which it may be enforceable.        9.    Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors  and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal and may not be assigned by you.         10.   Electronic Acceptance.  By accepting this Award electronically, you will  be deemed to have acknowledged and agreed that you are bound by the terms of this                                     47                                        

 

   Countries Addendum, and it shall be deemed to have been accepted by the Company.        11.   Notification  Requirement.  Until  45  days  after  the  period  of  restriction  under Paragraph 2 expires, you shall give notice to the Company of each new business  activity  you  plan  to  undertake,  at  least  5  business  days  prior  to  beginning  any  such  activity.   Such  notice  shall  state  the  name  and  address  of  the  Person  for  whom  such  activity is undertaken and the nature of your business relationship(s) and position(s) with  such  Person.   You  shall  provide  the  Company  with  such  other  pertinent  information  concerning such business activity as the Company may reasonably request in order to  determine  your  continued  compliance  with  your  obligations  under this  Countries  Addendum.        12.   Certain Limitations        (a)   Nothing this  Countries  Addendum prohibits  you  from  reporting  possible  violations of federal law or regulation to any governmental agency or regulatory authority  or from making other disclosures that are protected under the whistleblower provisions  of federal law or regulation.  Moreover, nothing in this Countries Addendum requires you  to notify the Company that you have made any such report or disclosure.  However, in  connection  with  any  such  activity,  you  acknowledge  you  must  take  reasonable  precautions to ensure that any confidential information that is disclosed to such authority  is not made generally available to the public, including by informing such authority of the  confidentiality of the same.        (b)   Despite the foregoing, you also acknowledge that you are not permitted to  disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any  information learned in the course of your Employment that is protected from disclosure  by  any  applicable  privilege,  including  but  not  limited  to  the  attorney-client  privilege,  attorney  work  product  doctrine,  and/or  privileges  applicable  to  information  covered  by  the bank secrecy (Article 41 of the Law on the financial sector dated April 5, 1993, as  amended), including information that would reveal the existence or contemplated filing of  a suspicious activity report.  Your Employer, the Company and its Subsidiaries do not  waive any applicable privileges or the right to continue to protect its and their privileged  attorney-client information, attorney work product, and other privileged information.                                   S.    NETHERLANDS  ______________________________________________________________________          1.    Waiver of Termination Rights.  As a condition to the grant of this Award,  you  hereby  waive  any  and  all  rights  to  compensation  or  damages  as  a  result  of  the  termination  of Employment with  the  Company  and  the  Subsidiary  that  employs  you  in  the Netherlands for any reason whatsoever, insofar as those rights result or may result  from (a) the loss or diminution in value of such rights or entitlements under the Plan, or  (b) your ceasing to have rights under, or ceasing to be entitled to any awards under the  Plan as a result of such termination.                                                                        T.    NORWAY                                                                                    48                                        

 

     ______________________________________________________________________    No country-specific provisions.                                                                                                            U.    POLAND                                                   ______________________________________________________________________    No country-specific provisions.                                                                   V.    SINGAPORE  ______________________________________________________________________          1.    Qualifying  Person  Exemption.  The  following  provision  shall  replace  Section 17(h) of the Agreement:     The grant of the Award under the Plan is being made pursuant to the “Qualifying Person”  exemption” under section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006  Ed.)  (“SFA”).   The  Plan  has  not  been and  will  not  be lodged  or  registered  as  a  prospectus  with  the  Monetary  Authority  of  Singapore and  is  not  regulated  by  any  financial  supervisory  authority  pursuant  to  any  legislation  in  Singapore.   Accordingly,  statutory liability under the SFA in relation to the content of prospectuses shall not apply.   You should note that, as a result, the Award is subject to section 257 of the SFA and you  will  not  be  able  to  make  (i)  any  subsequent  sale  of  shares  of Common  Stock in  Singapore or (ii) any offer of such subsequent sale of shares of Common Stock subject  to the Award in Singapore, unless such sale or offer is made pursuant to the exemptions  under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA (Chapter  289, 2006 Ed.).                                   W.    SOUTH AFRICA                                                    ______________________________________________________________________    No country-specific provisions.                                                                                                         X.    SWITZERLAND  ______________________________________________________________________                                                                              Securities Law Notice. The offer of the Award is not intended to be publicly offered in  Switzerland.  Because  the  offer  of  the  Award  is  considered  a  private offering,  it  is not  subject  to  registration  in  Switzerland.  Neither  this  document  nor  any other  materials  relating to the Award constitutes a prospectus as such term is understood pursuant to  article 652a of the Swiss Code of Obligations, and neither this document nor any other                                     49                                        

 

   materials relating to the Award may be publicly distributed nor otherwise made publicly  available  in  Switzerland.  Neither  this  document  nor  any  other offering  or  marketing  material relating to the Award have been or will be filed with, approved or supervised by  any  Swiss  regulatory  authority  (in  particular,  the  Swiss Financial  Market  Supervisory  Authority (“FINMA”).                                                                         Y. TAIWAN                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                                         Z.   UNITED ARAB EMIRATES   ______________________________________________________________________                                                 Securities Law Notice. This document may not be distributed in the Kingdom except to  such persons as are permitted under the Rules on the Offer of Securities and Continuing  Obligations issued by the Capital Market Authority. The Capital Market Authority does  not make any representation as to the accuracy or completeness of this document, and  expressly disclaims any liability whatsoever for any loss arising from, or incurred in  reliance upon, any part of this document. Prospective recipients of the securities offered  hereby should conduct their own due diligence on the accuracy of the information  relating to the securities. If you do not understand the contents of this document, you  should consult an authorized financial adviser.                                                                                                                                                                        AA.  UNITED KINGDOM  ______________________________________________________________________          1.    Income Tax and Social Insurance Contribution Withholding.  Without  limitation  to Section 12 of the  Agreement,  you  hereby  agree that  you  are  liable  for  all  Tax-Related Items and hereby consent to pay all such Tax-Related Items, as and when  requested  by  the  Company  and  or  your  Employer  (if  different)  or  by  HM  Revenue  &  Customs (“HMRC”) (or any other tax authority or any other relevant authority).  You also  hereby  agree  to  indemnify  and  keep  indemnified  the  Company  and  your  Employer  (if  different)  against  any  Tax-Related  Items  that  they  are  required  to  pay  or  withhold on  your behalf or have paid or will pay to HMRC (or any other tax authority or any other  relevant  authority).  Notwithstanding  the  foregoing,  if  you  are  a  director  or  executive  officer of the Company (within the meaning of Section 13(k) of the Exchange Act), you  understand that you may not be able to indemnify the Company for the amount of any  income tax not collected from or paid by you within ninety (90) days of the end of the  U.K. tax year in which the event giving rise to the Tax-Related Items occurs as it may be  considered  to  be  a  loan  and  therefore,  it  may  constitute  a  benefit  to  you  on  which  additional  income  tax  and  National  Insurance  contributions  (“NICs”)  may  be  payable.  You understand that you will be responsible for reporting and paying any income tax due  on  this  additional  benefit  directly  to  HMRC  under  the  self-assessment  regime  and  for  paying to the Company and/or your Employer (as appropriate) the amount of any NICs                                     50                                        

 

   due  on  this  additional  benefit,  which  may  also  be  recovered  from  you  by  any  of  the  means referred to in Section 12 of the Agreement.      2.    Exclusion  of  Claim.  You  acknowledge  and  agree  that  you  will  have  no  entitlement to compensation or damages insofar as such entitlement arises or may arise  from your ceasing to have rights under or to be entitled to the Deferred Shares, whether  or not as a result of such termination, (whether such termination is in breach of contract  or otherwise), or from the loss or diminution in value of the Deferred Shares.  Upon the  grant  of  your  Award,  you  shall  be  deemed  irrevocably  to  have  waived  any  such  entitlement.    3.    Notice  and  Non-Compete. In  consideration  of  your  receipt  of  this  Award,  you  expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been forfeited,  paid,  delivered  or  repaid,  under  this  Award at any time, including the time you separate from service with your Employer, the  Company and its Subsidiaries.  It is a condition of this Award that, if you fail to comply  with the terms and conditions below, then the Company may in its absolute discretion  determine that any or all of the amounts remaining to be paid under this Award should  be forfeited.  All terms used herein shall have the meaning given to them in the Plan or the Award,  except as otherwise expressly provided herein.        (a)   Notice Period Upon Resignation.          (i)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their        business interests and goodwill in the event of your resignation from Employment        for  any  reason,  you  agree  to  give  your  Employer  advance  notice  of  your        resignation. The duration of the advance notice you provide (the “Notice Period”)        will be determined by your title at the time you deliver such notice, as follows:              (1)   If you are a member of the State Street Corporation Management              Committee, you will give 180 days’ advance notice; and              (2)   If you are an Executive Vice President or higher, you will give 90              days’ advance notice.              For  the  avoidance  of  doubt,  the  Notice  Periods  set  out  above  shall  be              subject  always  to  any  contractual  obligation  you  have  to  give  a  longer              period  of  notice  of  termination  of  your Employment (whether  such              obligation  is  contained  in  your  contract  of Employment or  any  other              agreement to which you are a party).        (ii)  During the Notice Period, you will cooperate with your Employer, as well        as  the  Company  and  its  Subsidiaries,  and  provide  them  with  any  requested        information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their        business, and/or preserving its or their client relationships. In its sole discretion,        during  the  Notice  Period,  your  Employer  or  the  Company  may  place  you  on  a        partial or complete leave of absence and relieve you of some or all of your duties        and  responsibilities.  Except  as  provided  otherwise  in  (iii)  below, at  all  times        during the Notice Period you shall continue to be an employee of your Employer,        shall continue to receive your regular salary and benefits  and you will continue to        comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its                                     51                                        

 

                        Subsidiaries.  However, you  will not be eligible  for any incentive compensation       awards  made  on  or  after  the  first  day  of  the  Notice  Period  or  to  accrue  any       vacation save as required by statute.       (iii) In its sole discretion, at any time during the Notice Period, the Company       or your Employer may release you from your obligations under this Paragraph (a)       by  giving  immediate  effect  to  your  resignation  and  making  a  payment  of  basic       salary  in  lieu  of  any  notice  due;  provided  that  such  action  shall  not  affect  your       other obligations under this Countries Addendum.         (b)   Non-Competition.       (i)   This Paragraph (b) shall apply to you at any time that you hold the title of       Executive  Vice  President  or  higher and  following  the  termination  of  your       Employment  where  you  held  the title  of  Executive  Vice  President  or  higher       immediately prior to such termination.       (ii)  During your Employment and for the 12 months following its termination       for any reason, you will not within the Restricted Territory, directly or indirectly,       whether  as owner,  director,  partner,  investor,  consultant,  agent,  employee,  co-      venturer  or  otherwise  and  whether  alone  or  in  conjunction  with  or  on  behalf of       any other person:             (1)   become  engaged,  employed,  concerned  or  interested  in  or             provide  technical,  commercial  or  professional  advice  to,  any  Person             which supplies or provides (or intends to supply or provide) Products or             Services in competition with such parts of the business of the Employer or             any Relevant Group Company with which you were materially engaged or             involved or for which you were responsible during the Relevant Period;             (2)   compete with your Employer or any Relevant Group Company, or             undertake any planning for any business competitive with the business of             your Employer or any Relevant Group Company;             (3)   engage in any manner in any activity that is directly or indirectly             competitive or potentially competitive with the business of your Employer,             or  any  Relevant  Group  Company  as  conducted  or  under  consideration             during  the  Relevant  Period  and  further  agree  not  to  work  or  provide             services,  in  any  capacity,  whether  as  an  employee,  independent             contractor  or  otherwise,  whether  with  or  without  compensation,  to  any             Person  who  is  engaged  in  any  business  that  is  competitive  with  the             business  of  your  Employer  or  any  Relevant  Group  Company,  as             conducted or in planning during the Relevant Period.        (iii) The  period  of  12  months  referred  to  in  Paragraph  (b)(ii)  above  will  be       reduced by one day for every day during which, at the Employer’s direction, you       are on a complete leave of absence pursuant to Paragraph 3(a)(ii) above.       (iv)  Nothing in this Paragraph (b) shall prevent your ownership for investment       purposes only of shares or other securities of two percent (2%) or less of the total       issued capital of any company whether or not its securities are publicly traded.       (c)   Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:         (i)   “Client”  means  a  customer  or  client  of  the  Company  or  any  of  its       Subsidiaries  with  whom  you  have  had,  or  with  whom  persons  you  have                                    52                                       

 

                        supervised  have  had,  substantive  and  recurring  personal  contact  during  the       Relevant Period.         (ii)  “Products or Services” means any products or services which are of the       same kind as, of a materially similar kind to, or competitive with, any products or       services supplied or provided by your Employer or Relevant Group Company and       with  which  you  were  materially  concerned  or  connected  within  the  Relevant       Period.       (iii) “Person”  means  an  individual,  a  corporation, a  limited  liability  company,       an association, a partnership, a limited liability partnership, an estate, a trust and       any  other  entity  or  organization  (whether  conducted  on  its  own  or  as  part  of  a       wider entity), other than your Employer, the Company or any of its Subsidiaries.       (iv)  “Relevant Group Company” means the Company and/or any Subsidiaries       for  which  you  have  performed  services  or  in  respect  of  which  you  have  had       operational or managerial responsibility at any time during the Relevant Period.       (v)    “Relevant Period” means the period of 24 months immediately before the       date of termination of your Employment, or (where such provision is applied) the       date of commencement of any period of complete leave of absence pursuant to       Paragraph 3(a)(ii).       (vi)  “Restricted Territory” means any area or territory:             (1)   in which you worked during the Relevant Period; and/or             (2)   in relation to which you were responsible for, or materially involved             in, the supply of Products or Services in the Relevant Period.       (vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under       common control with the Company, including direct and indirect subsidiaries.       (d)   Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with  the  Company  and  its  Subsidiaries,  you  will  reasonably cooperate with the Company or the relevant Subsidiary with respect to any  matters  arising  during  or  related  to  your Employment,  including  but  not  limited  to  reasonable cooperation in connection with any litigation, governmental investigation, or  regulatory or other proceeding (even if such litigation, governmental investigation, or  regulatory  or  other  proceeding  arises  following  the  date  of  this  Award  to  which this  Countries  Addendum is appended  or following  the  termination  of  your Employment).   The Company or any of its Subsidiaries shall reimburse you for any reasonable out-of- pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation.       (e)   Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests  of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  confidential  information,  trade  secrets  and goodwill,  and  are  material and integral to the undertakings of the Company under this Award to which  this  Countries  Addendum is  appended.   You further  agree  that  one  or more  of  your  employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly,  your  Employer,  the  Company and any of its Subsidiaries shall each be entitled to preliminary or permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post  bond,  and  to                                    53                                       

 

    recover  its  or  their  reasonable  attorney’s  fees  and  costs  incurred  in  securing  such   relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or   they may be entitled, including the immediate forfeiture of any as-yet unvested portion   of  the  Award.  You  further  agree  that,  the  periods  of  restriction  contained  in this   Countries Addendum shall be tolled, and shall not run, during any period in which you   are in violation of the terms of this Countries Addendum, so that your Employer, the   Company  and  its  Subsidiaries  shall  have  the full  protection  of  the  periods  agreed  to   herein.        (f)   No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its   Subsidiaries in exercising any right under this Countries Addendum shall operate as a   waiver  of  that  right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the   provisions herein provided by your Employer, the Company or any of its Subsidiaries   must be in writing, is effective only in that instance, and may not be construed as a   broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any   other occasion.        (g)   Relationship to Other Agreements.  This Addendum supplements and   does not limit, amend or replace any other obligations you may have under applicable   law or any other agreement or understanding you may have with your Employer, the   Company  or  any  of  its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of   them,  whether  such  additional  obligations  have  been  agreed  to  in  the  past,  or  are   agreed to in the future.        (h)   Interpretation of Business Protections.  The agreements made by you   in Paragraphs (a) and (b) above shall be construed and interpreted in any judicial or   other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum  extent   permitted by law, and each of the provisions to this Countries Addendum is severable   and  independently  enforceable  without  reference  to  the  enforcement  of  any  other   provision.  If any restriction set forth in this Countries Addendum is found by any court   of competent jurisdiction to be unenforceable because it extends for too long a period   of time or over too great a range of activities or in too broad a geographic area, it shall   be interpreted to extend only over the maximum period of time, range of activities or   geographic area as to which it may be enforceable.        (i)   Assignment.  Except  as  provided  otherwise  herein, this  Countries   Addendum  shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their   respective successors and assigns, including any person or entity which acquires the   Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are   personal and may not be assigned by you.         (j)   Electronic Acceptance.  By accepting this Award electronically, you will   be deemed to have acknowledged and agreed that you are bound by the terms of this   Countries Addendum, and it shall be deemed to have been accepted by the Company.             (k)        Notification Requirement.  Until 45 days after the period of restriction  under this Paragraph 3 (b) expires, you shall give notice to the Company of each new  business activity you plan to undertake, at least 5 business days prior to beginning any  such activity.  Such notice shall state the name and address of the Person for whom  such activity is undertaken and the nature of your business relationship(s) and  position(s) with such Person.  You shall provide the Company with such other pertinent  information concerning such business activity as the Company may reasonably request  in order to determine your continued compliance with your obligations under this  Countries Addendum.                                     54                                        

 

                   (l)   Certain Limitations  (i)   Nothing this  Countries  Addendum prohibits  you  from  reporting  possible  violations of law or regulation to any governmental agency or regulatory authority  or  from  making  other  disclosures  that  are  protected  under  the  whistleblower  provisions of law or regulation.  Moreover, nothing in this Countries Addendum  requires  you  to  notify  the  Company  that  you  have  made  any  such  report  or  disclosure.  However, in connection with any such activity, you acknowledge you  must take reasonable precautions to ensure that any confidential information that  is  disclosed  to  such  authority  is  not  made  generally  available  to  the  public,  including by informing such authority of the confidentiality of the same.  (ii)  Despite the foregoing, you also acknowledge that you are not permitted to  disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any information learned in the course of your Employment that is protected from  disclosure  by  any  applicable  privilege,  including but  not  limited  to  the  attorney- client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,  and/or privileges applicable to information covered by the Bank Secrecy Act (31  U.S.C.  §§  5311-5330),  including  information that  would  reveal  the  existence  or  contemplated filing of a suspicious activity report.  Your Employer, the Company  and its Subsidiaries do not waive any applicable privileges or the right to continue  to  protect  its  and  their  privileged  attorney-client  information,  attorney  work  product, and other privileged information.                                                         *          *          *         *         *                                                                                        55                                  

 

                                                                    OFFER DOCUMENT                                                                                                                                                                                                                     STATE STREET CORPORATION                         2017 STOCK INCENTIVE PLAN                                                                                                                                                                                 OFFER OF DEFERRED STOCK TO                                 AUSTRALIAN                            RESIDENT EMPLOYEES                                                                                                                                                                             GRANT DATE: [_____________________]                                                                                                                    INVESTMENT  IN  SHARES  INVOLVES  A  DEGREE  OF RISK.   EMPLOYEES  WHO  ELECT   TO   PARTICIPATE   IN   THE   PLAN   SHOULD    MONITOR    THEIR  PARTICIPATION  AND  CONSIDER  ALL  RISK   FACTORS  RELEVANT  TO     THE  PURCHASE OF COMMON STOCK UNDER THE PLAN AS SET OUT IN THIS OFFER  DOCUMENT  AND  THE  ADDITIONAL DOCUMENTS.     ANY  ADVICE CONTAINED   IN  THIS  OFFER  DOCUMENT   IN  RELATION  TO  THE  DEFERRED  STOCK  BEING  OFFERED  UNDER  THE  PLAN  DOES  NOT  TAKE  INTO  ACCOUNT  THE  OBJECTIVES,  FINANCIAL  SITUATION  AND  NEEDS  OF  ANY       INDIVIDUAL  EMPLOYEE.   EMPLOYEES      SHOULD  CONSIDER  OBTAINING  THEIR  OWN  FINANCIAL PRODUCT ADVICE FROM AN INDEPENDENT PERSON LICENSED BY  THE  AUSTRALIAN  SECURITIES  AND  INVESTMENTS  COMMISSION  TO  GIVE  ADVICE ABOUT PARTICIPATING IN THE PLAN.                                                     56                                        

 

                                     OFFER OF                               DEFERRED STOCK TO                         AUSTRALIAN RESIDENT EMPLOYEES                                                                   STATE STREET CORPORATION                           2017 STOCK INCENTIVE PLAN                                           We are pleased to provide you with this offer to participate in the State Street Corporation 2017  Stock Incentive Plan (and any sub-plan established thereunder) (U.S. Plan) as supplemented  for  implementation  in  Australia  by  the  Australian  Addendum  to  the  State  Street  Corporation  2017 Stock Incentive Plan (Australian Addendum).  The U.S. Plan as supplemented by the  Australian Addendum is hereinafter referenced as the “Plan.”   This  Offer  Document  sets  out  information  about  grants  of  Deferred Stock (referenced  as  “Restricted Common Stock Units” in the U.S. Plan) (Awards) under the Plan and the Deferred  Stock Award Agreement (Agreement) to Australian resident employees of subsidiaries of State  Street Corporation (Company).  The purpose of the U.S. Plan is to advance the interests of the  Company by providing for the grant of Common Stock-based Awards.    Terms defined in the U.S. Plan and the Australian Addendum have the same meaning in this  Offer Document.    1.      OFFER   This is an Offer of Deferred Stock, as may be granted from time to time in accordance with the  Plan by the Company to selected eligible employees of Australian Affiliates.    The  grant  of  Deferred Stock under  the  Plan  is  intended  to  comply  with  the  provisions  of  the  Australian  Corporations  Act  2001  (Cth)  (Corporations  Act  2001),  Australian  Securities  and  Investment Commission (ASIC) Regulatory Guide 49 and ASIC Class Order 14/1000.          2.      TERMS OF GRANT   The  terms  of  your  Award  incorporate  the  rules  of  the  Plan,  this  Offer  Document  and  your  Agreement.  By accepting your Award, you will be bound by the rules of this Offer Document,  the Plan and your Agreement.    3.      ADDITIONAL DOCUMENTS   In addition to the information set out in this Offer Document, the following attached documents  provide further information necessary to make an informed decision about participating in the  Plan:          (a)       The U.S. Plan and related U.S. prospectus;          (b)       the Agreement and the Countries Addendum;         (c)       the Australian Addendum; and         (d)       the Employee Information Supplement.                                        57                                           

 

          (collectively Additional Documents).    The  U.S.  Plan  document  sets  out,  among  other  details,  the  nature  of  your  Award  and  the  consequences of a change in the nature or status of your Employment.    To the extent of any inconsistency between (a) this Offer Document or the Australian Addendum  and (b) any Additional Document (other than the Offer Document and Australian Addendum),  the terms of the Offer Document (and Australian Addendum) will apply.      4.      RELIANCE ON STATEMENTS   You should not rely upon any oral statements made to you in relation to this Offer.  You should  only rely upon the statements contained in this Offer Document and the Additional Documents  when considering your participation in the Plan.    5.      WHO IS ELIGIBLE TO PARTICIPATE   You  are  eligible  to  participate in the  Plan  if,  at  the  time  of  the  offer,  you  are  an  Australian  resident employee, officer, consultant, advisor or non-employee Director of the Company or an  Australian subsidiary and meet the eligibility requirements established under the Plan.   6.      ACCEPTING AN AWARD   Your Agreement  sets  out  the  key  details  of  your  Award.   To  accept  your  grant  you  must  expressly accept the Award within the period set out in your Agreement, and in any case no  more than thirty (30) days from the date on which the Board made the determination to grant the  Award.    7.      WHAT ARE THE MATERIAL TERMS OF AN AWARD?          (a)              What is Deferred Stock?          A Deferred Stock Award represents  the  right  to  receive  shares  of Common  Stock of  the  Company on fulfilment of the time-based vesting conditions set out in your Agreement.  When  your Deferred Stock vests, you will be issued shares of the Company’s Common Stock at no  monetary cost to you.  The Deferred Stock is considered “restricted” because it will be subject to  forfeiture  and  restrictions  on  transfer  until  it  vests.   The  restrictions  will  be  set  forth  in the  attached Agreement.           (b)      Do I have to pay any money to receive the Deferred Stock Award?    No.  You do not pay any monetary consideration to receive this Award, and you do not pay any  monetary  consideration  to  receive  the  shares  of Common  Stock subject  to  your  Award  upon  vesting.                 (c)      How many shares of Common Stock will I receive upon vesting of my                  Deferred Stock Award?    Your Agreement will indicate the number of shares of Common Stock subject to your Award.                (d)       When do I become a Stockholder?                                        58                                           

 

           You are not a stockholder merely as a result of holding an Award, and your Award does not  entitle you to vote or receive dividends, notices of meeting, proxy statements or other materials  provided  to  stockholders  until  the  shares  of Common  Stock are  issued  to  you  upon  vesting.   You  should  also  refer  to  your  Agreement for  details  of  the  consequences  of  a  change  in  the  nature of your Employment.                (e)         Can I transfer my Award to someone else?          No.  However, once shares of Common Stock are issued to you upon vesting, the shares will be  freely  tradeable  and  transferable.  Please  note,  though,  the  possible  disclosure  obligations  included under clause 9.    8.      WHAT IS A SHARE OF STOCK IN THE COMPANY?    Common stock of a U.S. corporation is analogous to ordinary shares of an Australian company.   Each holder of Common Stock is entitled to one vote for every share of Common Stock held in the  Company.   Dividends may be paid on the shares of Common Stock out of any funds of the Company legally  available for dividends at the discretion of the Board of Directors of the Company.    The  shares  of Common  Stock are  traded  on  the  New  York Common  Stock Exchange  and  are  traded under the symbol STT.   Shares  of Common  Stock are  not  liable  to  any  further  calls  for  payment  of  capital  or  for  other  assessment by the Company and have no sinking fund provisions, pre-emptive rights, conversion  rights or redemption provisions.    9.      HOW  CAN  I  OBTAIN  UPDATED  INDICATIVE  EXAMPLES  OF  THE  CURRENT          MARKET PRICE IN AUSTRALIAN DOLLARS?    Within a reasonable period following your request, the Company undertakes to provide you with  the Australian  dollar  equivalent  of  the current  market  price  of  a  share  of Common  Stock,  (calculated as at the date of your request).  The current market price for this purpose will be the  final sale price of a share of Common Stock on the New York Common Stock Exchange on the  trading day immediately preceding the date of your request.     The  Australian  dollar  equivalent  of  these  prices  will  be  calculated  using  the  Australian/U.S.  dollar  exchange  rate  published  by  an  Australian  bank  on  the  business  day  immediately  preceding the date of your request.  Please note that the Australian dollar equivalent of these  prices is only provided as information and not as a prediction of the Australian dollar equivalent  of  the  fair  market  value  of  a  share  of Common  Stock at  the  time  of  vesting.   The  Australian  dollar  equivalent  at  these  times  will  depend  on  the  exchange  rate  applied  by  your  bank  in  converting your Australian dollars to U.S. Dollars at the time of vesting.  The exchange rate is  available at:    http://www.rba.gov.au/statistics/frequency/exchange-rates.html                                           59                                           

 

   You should direct your request to:      Name:      John T. Sheehan     Title:     Compensation Consultant, Global Benefits & Equity      Australian  Affiliate means  State  Street  Australia Limited;  State  Street  Global     Advisors Australia; State Street Bank and Trust Company – Sydney Branch and     any other Associated Body Corporate employing Employees in Australia.      Address:  State Street Financial Center, 1 Lincoln Street, Boston, MA 02116,               USA     Phone:     +1 617-664-5455     Email:     jtsheehan@statestreet.com        10.     WHAT  ADDITIONAL  RISK  FACTORS  APPLY  TO  AUSTRALIAN  RESIDENTS'          PARTICIPATION IN THE PLAN?    Employees should consider generally the risk factors connected with investing in securities and,  in particular, to holding shares of Common Stock.  You should be aware that the fair market value  of shares  of Common  Stock underlying  your  Award  and the future  value of shares  of Common  Stock you acquire and the Australian dollar equivalent of these values will be affected by:         (a)       fluctuations in the Company's performance;          (b)       fluctuations in the U.S.$/A$ exchange rate;          (c)       factors identified from time to time by the Company's filings with the U.S.                  Securities and Exchange Commission;          (d)       fluctuations in the domestic and international market for listed stocks         (e)       general  economic  conditions  including  interest  rates,  inflation  rates,                  commodity and oil prices;         (f)       changes to governmental fiscal, monetary and regulatory policies;         (g)       legislation or regulation;         (h)       the nature of the markets in which the Company operates; and         (i)       general operational business risks.   Please note that if you offer your shares of Common Stock for sale to a person or entity resident  in Australia, your offer may be subject to disclosure requirements under Australian law.  Please  obtain legal advice on your disclosure obligations before you make any such offer.                                         60                                           

 

   11.     PLAN MODIFICATION, TERMINATION, ETC.    Subject  to  Section  9  of  the  U.S.  Plan,  the Board may  amend,  alter,  suspend,  discontinue  or  terminate the Plan or any part of it at any time.    12.     WHAT    ARE    THE   AUSTRALIAN     TAXATION    CONSEQUENCES       OF          PARTICIPATION IN THE PLAN?    Please see the Additional Document entitled "Employee Information Supplement – Deferred  Stock Awards" for information regarding the Australian tax treatment of your Award.    13.     WHAT ARE THE U.S. TAXATION CONSEQUENCES OF PARTICIPATION IN THE          PLAN?          Employees (who are not U.S. citizens or permanent residents) will not be subject to U.S. tax by  reason only of the grant and vesting of the Deferred Stock or the sale of shares of Common  Stock, except as described in the dividends section of the “Employee Information Supplement -  Deferred Stock”.  However, liability for U.S. taxes may accrue if an employee is otherwise  subject to U.S. taxes.      The above is an indication only of the likely U.S. taxation consequences for Australian resident  employees receiving Awards under the Plan.  Award recipients should seek their own advice as  to the U.S. taxation consequences of Plan participation.   14.     RESTRICTION ON CAPITAL RAISING 5% LIMIT   In addition to any other limitations as identified in this Offer Document, the Plan or as prescribed  by the Board from time to time under the terms of the Plan, there is an overall restriction on the  number of shares of Common Stock that can be issued to Australian employees.                               *          *          *          *          *    We  urge  you  to  carefully review  the  information  contained  in  this  Offer  Document  and  the  Additional Documents.  If you have any questions, please contact the person listed in Section 9.    Yours sincerely,    State Street Corporation                                                                                             61                                           

 

                        STATE STREET CORPORATION                        2017 STOCK INCENTIVE PLAN                                                          [____] Deferred Stock Award Agreement    Subject to your acceptance of the terms set forth in this agreement and the addendum  attached hereto (“Agreement”), State Street Corporation (“Company”) has awarded you,  under the State Street Corporation 2017 Stock Incentive Plan (“Plan”), and pursuant to  this Agreement and the terms set forth herein, a contingent right to receive the number  of shares of Common Stock (“Deferred Shares”) (“Award”) as set forth in the statement  pertaining to this Award (“Statement”) on the website (“Website”) maintained by Fidelity  Stock Plan Services LLC, an independent service provider based in the United States, or  another party designated by the Company (“Equity Administrator”).     Copies  of  the  Plan,  the  Company’s  Prospectus  for  the  Plan  and  any  employee  information  supplement  to  the  Prospectus  for  your  country  of Employment (“Tax  Supplement”) are located on the Website for your reference.  Your acceptance of this  Award  constitutes  your  acknowledgement  that  you  have  read  and  understood this  Agreement, the  Plan,  the  Prospectus  for  the  Plan  and  the  Tax  Supplement.   The  provisions of the Plan are incorporated herein by reference, and all terms used herein  shall  have  the  meaning  given  to  them  in  the  Plan,  except  as  otherwise  expressly  provided herein.  In the event of any conflict between the provisions of this Agreement  and the provisions of the Plan, the provisions of the Plan shall control.  As used herein,  “State  Street”  means  the  Company  and  each  Subsidiary.  “Subsidiary”  means  the  Company’s consolidated subsidiaries.    You  may  consider  this  Agreement  for  up  to  thirty  (30)  days  from  the  date  it  was  first  made available to you on the Website.    The terms of your Award are as follows:    1.    Grant of Deferred Shares.    To be entitled to any payment under this Award, you must accept your Award and in so  doing  agree  to  comply  with  the  terms  and  conditions  of  this  Agreement  and  the  applicable  provisions  of  the  Countries  Addendum outlined  in  Appendix  A (which  is  incorporated into, and forms a material and integral part of, this Agreement).  Failure to  accept this Award within thirty (30) days following the posting of this Agreement on the  Website will result in forfeiture of this Award.  Subject to the terms and conditions of this  Agreement, Deferred Shares shall vest and be settled in the form of shares of Common  Stock according to the vesting schedule set forth in your Statement.  The term “vest” as  used herein means the lapsing of certain (but not all) restrictions described herein and in  the  Plan  with  respect  to  one  or  more  Deferred  Shares as  of  each  applicable  vesting  date.  To vest in all or any portion of this Award as of any date, you must have been  continuously employed with the Company or a Subsidiary, from and after the date hereof  and  until  (and  including)  the  applicable vesting  date,  except  as  otherwise  provided  herein.   By accepting this Award, you acknowledge and agree that with respect to any claim you  may undertake to raise in the future with respect to this Award, of Deferred Shares or  Common  Stock  issued  by  the  Company  with  respect  to  this  Agreement may  only  be                                      1                                        

 

   raised against the Company in a court of competent jurisdiction in the Commonwealth of  Massachusetts, regardless of where or whether you are employed by the Company or a  Subsidiary.  This Award is subject to any forfeiture, compensation recovery or similar requirements  set  forth  in this  Agreement,  as  well  as  any  other  forfeiture,  compensation  recovery  or  similar  requirements under  applicable  law  and  related  implementing  regulations  and  guidance, and to other forfeiture, compensation recovery or similar requirements under  plans, policies and practices of the Company or its relevant Subsidiaries in effect from  time to time, including those set forth in your offer letter.  In the event pursuant to this  Agreement  or  pursuant  to any  applicable  law  or  related  implementing  regulations or  guidance,  or  pursuant  to  any  Company or  its  relevant  Subsidiaries plans,  policies  or  practices, the Board or State Street is required or permitted to reduce, forfeit or cancel  any amount remaining to be paid, or to recover any amount previously paid, with respect  to  this  Award,  or to  otherwise  impose  or  apply  restrictions  on this  Award  or  shares  of  Common Stock subject hereto, it shall, in its sole discretion, be authorized to do so.  By  accepting  this  Award,  you  consent  to  making  payment  to the Subsidiary  that  legally  employs you (“Employer”) in the event of a compensation recovery determination by the  Board or State Street.   2.    Payment of Common Stock.           (a)   The Company will issue and transfer to you, no later than thirty (30) days  following the applicable vesting dates, the number of shares of Common Stock specified  in  the  vesting  schedule  in  your  Statement.   The  Company’s  obligation  to  issue  and  transfer Common Stock in the future pursuant to this Agreement is an unsecured and  unfunded contractual obligation.         (b)   Notwithstanding  the foregoing,  the  Company  may,  in  its  sole  discretion,  settle any vested Deferred Shares in the form of:                (i)  a  cash  payment  to  the  extent  settlement  in  shares  of Common        Stock (1) is prohibited under local law, rules or regulations, (2) would require you,        the  Company  or your Employer  to  obtain  the  approval  of  any  governmental        and/or regulatory body in your country of residence (or country of Employment, if        different), or (3) is administratively burdensome; or                (ii)  shares  of Common Stock,  but  require  you  to  immediately  sell        such shares of Common Stock (in which case, you hereby expressly authorize        the Company to issue sales instructions on your behalf).   3.    Identified Staff Holding Requirement.     Notwithstanding  anything  herein  to  the  contrary,  you  agree  and  covenant  that,  as  a  condition to the receipt of this Award and the settlement of the Deferred Shares in the  form  of  shares  of  Common  Stock hereunder,  in  the  event  the  Company  or  any  Subsidiary  notifies  you  at  any  time  before  or  after this  Award  is  made   that  you  have  been designated Identified Staff for purposes of the Capital Requirements Directive IV  (or any implementing or successor rule, regulation or guidance, including the rules and  regulations  of  the  United  Kingdom  Financial  Conduct  Authority (“FCA”), Prudential  Regulation Authority (“PRA”), German Federal Financial Supervisory Authority (“BaFin”)  or any other applicable regulatory authority), you will not sell or otherwise transfer any                                      2                                        

 

   shares of Common Stock issued and transferred to you pursuant  to this Award until the  date that is at least twelve (12) months for UK and State Street Bank International GmbH  (“SSB Intl GmbH”) Identified Staff (or such longer period as is stipulated by the FCA, the  PRA,  BaFin  or  any  other  applicable  regulatory  authority) after  the vesting  date of  Deferred Shares paid in connection with this Award, except that          (a) you shall be permitted to sell, upon such vesting date, a number of shares of  Common  Stock  sufficient  to  pay  applicable  tax  and  social  security  withholding,  if  any,  with  respect  to  such  vesting  (or,  alternatively,  if  the  Company  withholds  such  shares  pursuant to Section 11 of this Agreement, the requirements in this Section 3 not to sell or  otherwise transfer any shares shall only apply to the number of such shares delivered to  you (i.e., after such withholding of shares)),          (b)  transfers  by  will  or  pursuant  to  the  laws of  descent  or  distribution  are  permitted and          (c)  this  holding  requirement  shall  not  apply  to  such  portion  of  the Deferred  Shares, if any, that were awarded with respect to a period of time, as determined by the  Company  in  its  discretion,  during  which  you  were  not  subject  to  such  holding  requirement.  Any  attempt  by  you  (or  in  the  case  of  your  death,  by  your Designated  Beneficiary) to assign or transfer shares of Common Stock subject to this Award, either  voluntarily or involuntarily, contrary to the provisions hereof, shall be null and void and  without  effect.  The  Company  may,  in  its  sole  discretion,  impose  restrictions  on  the  assignment or transfer of shares of Common Stock consistent with the provisions hereof,  including,  without  limitation,  by  or  through  the  transfer  agent  for  such  shares  or  by  means of legending Common Stock certificates or otherwise.  This provision applies in  addition  to,  and  not  to  the  exclusion  of,  any  other  holding,  forfeiture  and/or  clawback  provisions contained in this Agreement.     4.    General Circumstances of Forfeiture.           (a)   You  will  immediately  forfeit  any  and  all  rights  to  receive  shares  of  Common Stock under this Agreement not previously vested,  issued and transferred to  you in the event:                (i)  you cease to be employed by the Company and its Subsidiaries        due to Circumstances of Forfeiture;                (ii)  your Employer,  in  its  sole  discretion,  determines  that        circumstances  prior  to  the  date  on  which  you  ceased  to  be  employed  by  the        Company  and  its  Subsidiaries  for  any  reason  constituted  grounds  for  an        involuntary termination constituting Circumstances of Forfeiture; or               (iii) you  fail  to  comply  with  the  terms  of the  applicable  Countries        Addendum attached to this Award or the terms of any other Restrictive Covenant        (as defined in the Countries Addendum) you agree to or have agreed to with the        Company or your Employer.         (b)   If your Employment terminates by reason of [Retirement or] Disability or  for  reasons  other  than  for  Circumstances  of  Forfeiture,  then  unless  accelerated  as                                      3                                        

 

   provided  in  Section 9,  your  unvested  right  to  receive  shares  of Common  Stock  hereunder shall continue to vest in accordance with the vesting schedule detailed in your  Statement, subject to the terms and conditions of this Agreement.          (c)   For purposes hereof:               (i)   “Circumstances  of  Forfeiture”  means  the  termination  of  your        Employment with the Company and its Subsidiaries either (A) voluntarily (other        than [(x) Retirement or (y)] for Good Reason on or prior to the first anniversary of        a Change in Control) or (B) involuntarily for reasons determined by the Company        or the relevant Subsidiary in its sole discretion to constitute “gross misconduct”        [(including while you are Retirement eligible)].               (ii)  [“Retirement” means your attainment of age 55 and completion of        5 years of continuous service with the Company and its Subsidiaries.              (iii) ]“Disability”  means  your  inability  to  engage  in  any  substantially        gainful  activity  by  reason  of  any  medically  determinable  physical  or  mental        impairment that can be expected to result in your death or can be expected to        last for a continuous period of not less than 12 months.        (d)   If you are a local national of and employed in a country that is a member  of  the  European  Union  (“EU”),  the  grant  of  this  Award  and  the  terms  and  conditions  governing  this  Award  are  intended to  comply  with  the  age  discrimination  provisions  of  the EU Equal Treatment Framework Directive, as implemented into local law (the “Age  Discrimination  Rules”).   To  the  extent  a  court  or  tribunal  of  competent  jurisdiction  determines that any provision of this Award is invalid or unenforceable, in  whole or in  part, under the Age Discrimination Rules, the Company, in its sole discretion, shall have  the  power  and  authority  to  revise  or  strike  such  provision  to  the  minimum  extent  necessary to make it valid and enforceable to the full extent permitted under applicable  local law.         (e)   This Section 4 applies in addition to, and not to the exclusion of, any other  holding, forfeiture and/or clawback provisions contained in this Agreement.   5.    Material Risk Taker Malus-Based Forfeiture.   In the event you hold a title of Senior Vice President or higher during the calendar year  in which this Award is made, or you hold the status of “material risk taker” at the time this  Award  is  made  or  any  time  thereafter,  you  acknowledge  and  agree  that  this  Award  is  subject  to  the  provisions  of  this  Section 5.  In  respect  of any Award remaining  to  be  issued  and  transferred  to  you  in  Common  Stock  or  otherwise  paid may,  in  the  sole  discretion  of  the Board,  be  reduced, forfeited or  cancelled,  in  the  event  that  it  is  determined  by  the Board,  in  its  sole discretion,  that  your  actions,  whether  discovered  during  or  after  your  employment  with  the  Employer, exposed The  Business  to any  inappropriate risk or risks (including where you failed to timely identify, analyze, assess  or raise concerns about such risk or risks, including in a supervisory capacity, where it  was  reasonable  to  expect  you  to  do  so),  and  such  exposure  has  resulted  or  could  reasonably  be  expected  to  result  in  a  material  loss  or  losses  that  are  or  would  be  substantial in relation to the revenues, capital and overall risk tolerance of The Business.   “The Business” shall mean State Street, or, to the extent you devote substantially all of  your business time to a particular business unit (e.g., Global Services Americas, Global  Services International,  State Street Global Exchange or State Street Sector Solutions)                                      4                                        

 

   or  business  division  (e.g.,  Alternative  Investment  Solutions,  Securities  Lending),  “Business” shall refer to such business unit or business line.  This provision applies in  addition  to,  and not  to  the  exclusion  of,  any  other  holding,  forfeiture  and/or  clawback  provisions contained in this Agreement.    6.    Identified Staff Malus-Based Forfeiture and Clawback.         (a)   In  the  event  the  Company  or  any  Subsidiary  notifies  you  at  any  time  before  or  after this  Award  is  made  that  you  have  been  designated  Identified  Staff  for  purposes of the PRA Remuneration Code, you acknowledge and agree that this Award  is subject to the provisions of this Section 6 for a period of seven (7) years from the date  this Award is granted.  The seven (7)-year period may be extended to ten (10) years in  certain circumstances where:                       (i)  the  Company  has  commenced  an  investigation  into  facts  or  events        which it considers could potentially lead to the application of a clawback under        this Section 6 were it not for the expiration of the seven (7)-year period; or               (ii)  the  Company  has  been  notified  by  a  regulatory  authority  that  an        investigation has commenced into facts or events which the Company considers        could potentially lead to the application of clawback by the Company under this        Section 6 were it not for the expiration of the seven (7)-year period.                (b)    If the Company determines that a PRA Forfeiture Event has occurred it  may elect to reduce, forfeit or cancel all or part of any amount remaining to be issued  and  transferred  to  you  in  Common  Stock  or  otherwise paid  in  respect  of  this  Award  (“PRA Malus-Based Forfeiture”).                (c)    If the Company determines that a PRA Clawback Event has occurred it  may require the repayment by you (or otherwise seek to recover from you) of all or part  of any compensation paid to you in respect of this Award.          (d)   The Company may produce guidelines from time to time in respect of its  operation  of  the  provisions  of  this  Section  6.   The  Company  intends  to  apply  such  guidelines in deciding whether and when to effect any reduction, cancellation, forfeiture  or  recovery  of  compensation  but,  in  the  event  of  any inconsistency  between  the  provisions of this Section 6 and any such guidelines, this Section 6 shall prevail.  Such  guidelines  do  not  form  part  of  any  employee’s  contract  of Employment,  and  the  Company may amend such guidelines and their application at any time.                (e)   By accepting this Award on the Website, you expressly and explicitly:                       (i)  consent  to  making the  required payment  to  the Company  (or  to        your  Employer on behalf of the Company) upon a PRA Clawback Event; and               (ii)  authorize  the  Company  to  issue related instructions,  on  your        behalf,  to  the  Equity  Administrator  and  any  brokerage  firm  and/or  third  party        administrator engaged by the Company to hold your shares of Common Stock        and  other  amounts  acquired  under  the  Plan  and  to  re-convey,  transfer  or        otherwise  return  such  shares  of Common  Stock and/or  other  amounts  to  the        Company.                (f)   For the purposes of this Section 6:                                      5                                        

 

                 (i)   A “PRA Forfeiture Event” means a determination by the Company,        in its sole discretion, that (A) there is reasonable evidence of your misbehavior        or  material  error;  or  (B)  the  Company,  one  of  its  Subsidiaries  or  a  relevant        business unit has suffered a material downturn in its financial performance; or        (C)  the  Company,  one  of  its  Subsidiaries  or  a  relevant business  unit  has        suffered a material failure of risk management.                (ii)   A  “PRA  Clawback  Event”  means  a  determination  by  the        Company, in its sole discretion, that either (A) there is reasonable evidence of        your misbehavior or material error or (B) the Company, one of its Subsidiaries or        a relevant business unit has suffered a material failure of risk management.                (g)    This  Section  6  applies  in  addition  to,  and  not  to  the  exclusion  of,  any  other holding, forfeiture and/or clawback provisions contained in this Agreement.      7.    SSB  Intl  GmbH  and  SSGA  GmbH  Affordability  Limitations,  and Malus-       Based Forfeiture and Clawback.         (a)   Awards issued to SSB Intl GmbH or State Street Global Advisors GmbH  staff may be impacted by the financial situation of the bank and/or regulatory group, as  prescribed by regulatory requirements in its applicable  version (e.g. the Remuneration  Ordinance for Institutions and/or German Banking Act). Awards may also be limited to  the extent ordered by the competent supervisory authority according to sec. 45 para. 2  sentence 1 no. 5a, 6 German Banking Act. Further, entitlement to an Award may lapse if  the competent supervisory authority issues a corresponding definitive order according to  sec. 45 para. 5 sentence 5 to 8 German Banking Act.                (b)    In the event the Company or any Subsidiary notifies you at any time before  or  after  this  Award  is  made  that  you  have  been  designated SSB  Intl  GmbH  Identified  Staff for purposes of the German Remuneration Ordinance, you acknowledge and agree  that this Award is subject to forfeiture and clawback for a period from the date the Award  is granted until two (2) years from the date that the final tranche of this Award vests.  A  clawback applies if you, as SSB Intl GmbH Identified Staff,                       (i)  contributed  significantly  to,  or  was  responsible  for,  conduct  that        resulted in significant losses or regulatory sanctions for SSB Intl GmbH, or               (ii) is responsible for a serious breach of relevant external or internal rules        on good conduct (“SSB Intl GmbH Identified Staff Clawback Event”).                  (c)   Section 7  applies  in  addition  to,  and  not  to  the  exclusion  of,  any  other  holding, forfeiture and/or clawback provisions contained in this Agreement.    8.    Management Committee/Executive Vice President Forfeiture and Clawback.         (a)   If, at the time the Award is made, you are a member of the State Street  Corporation  Management  Committee or  any  successor  committee  or  body  (“Management Committee” or “MC”) or hold the title Executive Vice President (“EVP”) or  higher,  any  amount  remaining  to be  paid  in  respect  of  this  Award  may,  in  the  sole                                      6                                        

 

   discretion  of  the Board,  be  reduced, forfeited or  cancelled,  in  whole  or  in  part,  in  the  event that it is determined by the Board, in its sole discretion, that:              (i)   you  engaged  in  fraud,  gross  negligence  or  any  misconduct,        including  in  a  supervisory  capacity, that  was  materially  detrimental  to  the        interests or business reputation of State Street or any of its businesses; or              (ii)  you engaged in conduct that constituted a violation of State Street        policies and procedures or State Street Standard of Conduct in a manner which        either  caused  or could  have  caused  reputational  harm  that  is  material  to  State        Street or placed or could have placed State Street at material legal or financial        risk; or              (iii) as  a  result  of  a  material  financial  restatement  by  State  Street        contained in a filing with the U.S. Securities and Exchange Commission (“SEC”),        or  miscalculation  or  inaccuracy  in  the  determination  of  performance  metrics,        financial results or other criteria used in determining the amount of this Award,        you would have received a smaller or no Award hereunder.        (b)   If, at the time the Award is made, you are a member of the Management  Committee or hold the title EVP or higher, this Award also is subject to compensation  recovery  as  provided  herein.   Upon  the  occurrence  of  an  MC/EVP Clawback  Event  within  three  (3)  years (within  one  (1)  year  for  an  EVP) after  the  date  of  grant  of  this  Award,  the Board may,  in  its  sole  discretion,  determine  to  recover  the  MC/EVP  Clawback  Amount,  in  whole  or in  part.   Following  such  a  determination,  you  agree  to  immediately repay such compensation, in no event later than sixty (60) days following  such  determination,  in  the  form  of  any  shares  of Common  Stock delivered  to  you  previously by the Company or cash (or a combination of such shares and cash).  For  purposes of calculating the value of both:              (i)     the amount of the MC/EVP Clawback Amount determined by the        Board to be recovered; and               (ii)   the  amount  of  such  compensation  repaid,  shares  of Common        Stock will  be  valued  in  an  amount  equal  to  the  market  value  of  the  Deferred        Shares delivered to you under this Award by the Company as determined at the        time of such delivery.  To the extent not prohibited by applicable law and subject        to Section 15 (if applicable), if you fail to comply with any requirement to repay        compensation  under  this  Section 8(b),  the Board may  determine,  in  its  sole        discretion, in addition to any other remedies available to the Company, that you        will  satisfy  your  repayment  obligation  through  an  offset to  any future  payments        owed by the Company or any of its Subsidiaries to you.         (c)   For purposes of this Section 8:              (i)   “MC/EVP Clawback Event” means a determination by the Board,        in its sole discretion, (A) with respect to any event or series of related events, that        you engaged in fraud or willful misconduct, including in a supervisory capacity,        that resulted in financial or reputational harm that is material to State Street and        resulted  in  the  termination  of  your Employment by  the  Company  and  its        Subsidiaries (or, following a cessation of your Employment for any other reason,        such circumstances  constituting  grounds  for  termination are  determined        applicable) or (B) a material financial restatement or miscalculation or inaccuracy        in financial results, performance metrics, or other criteria used in determining this        Award by State Street occurred.  For the avoidance of doubt and as applicable,                                      7                                        

 

         an  MC/EVP Clawback  Event  includes  any  determination  by  the Board that  is        based on circumstances prior to the date on which you cease to be employed by        the  Company  and  its  Subsidiaries for  any  reason,  even  if the  determination  by        the Board occurs after such cessation of Employment.              (ii)  “MC/EVP Clawback  Amount”  means  (A)  with  respect  to  an        MC/EVP  Clawback  Event  described  in  Section 8(c)(i)(A),  the  value  of  the        Deferred  Shares, determined  under  Section  8(b)  above,  that  were  delivered  to        you under this Award by the Company during the period of three (3) years (one        (1) year for an EVP) immediately prior to such MC/EVP Clawback Event or (B)        with respect to an MC/EVP Clawback Event described in Section 8(c)(i)(B), the        value  of  the Deferred  Shares, determined  under  Section  8(b)  above, that  were        delivered to you under this Award by the Company (x) during the period of three        (3)  years (one  (1)  year  for  an  EVP) immediately  prior  to an associated date        designated  by  the  Board and  (y)  that represents  an  amount  that,  in  the  sole        discretion  of  the Board,  exceeds  the  amount  you  would  have  been  awarded        under  this  Award  had  the  financial  statements or  other  applicable  records of        State  Street  been  accurate  (reduced,  in  the  case  of  both  of  the  immediately        preceding clauses (A) and (B), taking into account any portion of this Award that        was previously recovered by the Company under Section 8(b) to avoid a greater        than 100% recovery).          (d)   In  connection  with  any  MC/EVP  Clawback  Event,  you  hereby expressly  and explicitly authorize the Company to issue instructions, on your behalf, to the Equity  Administrator  and  any  brokerage  firm  and/or  third  party  administrator  engaged  by  the  Company to hold your shares of Common Stock and other amounts acquired under the  Plan  to  re-convey,  transfer  or  otherwise  return  such  shares  of  Common  Stock  and/or  other amounts to the Company.         (e)   This Section 8 applies in addition to, and not to the exclusion of, any other  holding, forfeiture and/or clawback provisions contained in this Agreement.   9.    Acceleration of Vesting upon Certain Events.          (a)   Notwithstanding  anything  in  this  Agreement  to  the  contrary,  if  you  die  while employed by the Company or any of its Subsidiaries, or in the event that you die  after  your Employment has  terminated  for  a  reason  permitting  continued  vesting  pursuant to subparagraph 4(b) above, any unvested Deferred Shares shall vest on the  date of your death and the Company will issue and pay to your Designated Beneficiary  within sixty (60) days of your death the value of such Deferred Shares under this Award  in  the  form  of  a  cash  payment/issuance  of  shares  of  Common  Stock.   In  addition,  Sections 5, 6, 7 and 8 of this Agreement shall cease to apply upon your death at any  time  provided,  however,  if  a  PRA Clawback  Event,  SSB  Intl  GmbH  Identified  Staff  Clawback Event or an MC/EVP Clawback Event has occurred pursuant to Section 6, 7  or 8,  respectively, at  or prior  to  your  death,  any  amount  that  the Board has  made  a  determination to recover under either such Sections shall continue to be payable to the  Company.         (b)   Subject  to  applicable  law  and  regulation  (including  the  rules  and  regulations of any applicable regulatory authority), if your Employment with the Company  and its Subsidiaries is terminated by the Company or the applicable Subsidiary without  Cause, [or] by you for Good Reason [or on account of your Retirement], in each case, on                                      8                                        

 

   or prior to the first anniversary of a Change in Control (and provided that such Change in  Control  constitutes  a  “change  in  control  event”  as  that  term  is  defined  under  Section  409A  of  the  U.S.  Internal  Revenue  Code  of  1986,  as  amended,  (“Code”)  and U.S.  Treasury  Regulation  Section  1.409A-3(i)(5)) prior  to  the  full  settlement  of  your  Award,  the  unvested  portion  of this  Award  shall vest  on  the  date  of  such termination  and  the  Company will promptly issue and pay to you within thirty (30) days of such termination  any such shares of Common Stock under this Award.  For purposes of this Section 9(b),  termination  of Employment shall  mean  a “separation  from  service”  as  determined  in  accordance with U.S. Treasury Regulation Section 1.409A-1(h).   10.   Shareholder Rights.   You  are  not  entitled  to  any  rights  as  a  shareholder  with  respect  to  any  shares  of  Common Stock subject to this Award until they are transferred to you.  Without limiting  the  foregoing,  prior  to  the  issuance  and  transfer  to  you  of  shares  of Common Stock  pursuant to this Agreement, you will have no right to receive dividends or amounts in lieu  of dividends with respect to the shares of Common Stock subject to this Award nor any  right to vote the shares of Common Stock prior to any shares being transferred to you.   11.   Withholding of Tax-Related Items.     Regardless  of  any  action your Employer  takes  with  respect  to  any  or  all  income  tax  (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance,  payroll tax, payment on account of other tax-related withholding (“Tax-Related Items”),  you  acknowledge  and  agree that  the  ultimate  liability  for  all  Tax-Related  Items  legally  due from you is and remains your responsibility.  Furthermore, neither the Company nor  your Employer (a) makes any representations or undertakings regarding the treatment of  any Tax-Related Items in connection with any aspect of this Award, including the grant  of this Award, the vesting of this Award and the issuance of shares of Common Stock in  settlement of this Award, the subsequent sale of any shares of Common Stock acquired  upon vesting, the cancellation, forfeiture or repayment of any shares of Common Stock  (or  cash  in  lieu  thereof);  or  (b)  commits  to  structure  the  terms  of  the  grant,  vesting,  settlement,  cancellation,  forfeiture,  repayment  or  any  other  aspect  of  this  Award  to  reduce or eliminate your liability for Tax-Related Items.   Prior to the delivery of shares of Common Stock upon the vesting of this Award, if any  taxing  jurisdiction  requires  withholding  of  Tax-Related  Items in  connection  with  the  Award,  the  Company  may  withhold  a  sufficient  number  of  whole  shares of  Common  Stock that have an aggregate fair market value sufficient to pay the Tax-Related Items  required to be withheld with respect to this Award; provided, however, that the total tax  withholding  cannot  exceed  the  Employer’s minimum  statutory  withholding  obligations  (based  on  minimum  statutory  withholding  rates  for  federal  and  state  tax  purposes,  including payroll taxes, that are applicable to such supplemental taxable income).  The  cash  equivalent  of  the  shares of  Common  Stock withheld  will  be  used  to  settle  the  obligation to withhold the Tax-Related Items (determined in the Company’s reasonable  discretion).  No fractional shares of Common Stock will be withheld or issued pursuant to  the  grant  of  the  Deferred  Shares  and  the  issuance  of Common  Stock hereunder.   Alternatively,  the  Company  and/or  your  Employer  may,  in  its  discretion,  withhold  any  amount  necessary  to  pay  the  Tax-Related  Items  from  your  salary,  wages or  other  amounts payable to you, with no withholding in shares of Common Stock.  In the event  the  withholding  requirements  are  not  satisfied  through  the  withholding  of  shares  or                                      9                                        

 

   through  your  salary,  wages or  other  amounts  payable  to  you,  no  shares  of Common  Stock will  be  issued  upon  vesting  of  this  Award  unless  and  until satisfactory  arrangements (as determined by the Company or your Employer) have been made by  you with respect to the payment of any Tax-Related Items which the Company or your  Employer determines, in its sole discretion, must be withheld or collected with respect to  such Award.     Depending  on  the  withholding  method,  the  Company  may  withhold  for  Tax-Related  Items  by  considering  any  applicable  statutory  withholding  amounts  or  other  applicable  withholding rates, including maximum applicable rates.  If you are subject to taxation in  more than one jurisdiction, you hereby expressly acknowledge that the Company, your  Employer  or  another  Subsidiary  may  be  required  to  withhold  and/or  account  for  Tax- Related Items in more than one jurisdiction.   By accepting this Award, you hereby expressly consent to the withholding of shares of  Common  Stock and/or  cash  as  provided  for  hereunder.   All  other  Tax-Related  Items  related to this Award and any Common Stock delivered in payment thereof, including the  extent to which the Company or your Employer does not so-withhold shares of Common  Stock and/or cash, are your sole responsibility.     12.   Changes in Capitalization or Corporate Structure.   This  Award  is  subject  to  adjustment  pursuant  to Section 10(a)  of  the  Plan in  the  circumstances therein described.   13.   Employee Rights.     Nothing in this Award shall be construed to guarantee you any right of Employment with  the Company, your Employer or any Subsidiary or to limit the discretion of any of them to  terminate your Employment at any time, with or without cause to the maximum extent  permitted under local law.     In  consideration  of  the  grant  of  the  Award, you  acknowledge  and  agree  that  you  will  have no entitlement to compensation or damages in consequence of the termination of  your Employment (for any reason whatsoever and whether or not in breach of contract  or local labor laws), insofar as such entitlement arises or may arise from your ceasing to  have rights under or to be entitled to the Award as a result of such termination, or from  the  loss  or  diminution  in  value  of  the  Award.  By  accepting  this  Award,  you  shall  be  deemed irrevocably to have waived any such claim or entitlement against the Company,  your Employer and all Subsidiaries that may arise; if, notwithstanding the foregoing, any  such  claim  is  found  by  a  court  of  competent  jurisdiction  to  have  arisen,  then,  by  accepting  this  Agreement,  you  shall  be  deemed  irrevocably  to  have  waived  your  entitlement  to  pursue  such  claim.  In  the  event  your Employment  ends  and  you are  subsequently rehired by the Company or any Subsidiary, no Award previously forfeited  or recovered will be reinstated.   14.   Non-Transferability, Etc.   This Award shall not be transferable other than (1) by  will or the  laws of descent and  distribution  or  (2)  pursuant  to  the  terms  of  a court-approved domestic  relations  order,  official  marital  settlement  agreement  or  other  divorce  or  settlement  instrument                                     10                                        

 

   satisfactory to State Street, in its sole discretion.  In the case of transfer pursuant to (2)  above, this Award shall remain subject to all the terms and conditions contained in the  Plan  and  this  Agreement,  including  vesting, forfeiture and  clawback  terms  and  conditions.  Any  attempt  by  you (or  in  the  case  of  your  death,  by  your Designated  Beneficiary) to assign or transfer this Award, either voluntarily or involuntarily, contrary to  the provisions hereof, shall be null, void and without effect and shall render this Award  itself null and void.   15.   Compliance with Section 409A of the Code.           (a)   The  provisions  of  this Award  are  intended  to  be  exempt  from,  or  compliant  with,  Section  409A  of  the  Code,  and  shall  be  construed  and  interpreted  consistently  therewith.   Notwithstanding  the  foregoing,  neither  the  Company  nor  any  Subsidiary shall have any liability to you or to any other person if this Award is not so  exempt or compliant.         (b)   If and to the extent               (i)    any  portion  of  any  payment,  compensation  or  other  benefit              provided  to  you  pursuant  to  the  Plan  in  connection  with  your              Employment    termination  constitutes  “nonqualified  deferred              compensation” within the meaning of Section 409A of the Code, and               (ii)  you  are  a  specified  employee  as  defined  in  Section              409A(a)(2)(B)(i)  of  the  Code,  in  each  case  as  determined  by  the              Company  in  accordance  with  its  procedures,  by  which  determinations              you (through  accepting  this  Award)  agree  that you  are  bound,  such              portion of the payment, compensation or other benefit shall not be paid              before  the  day  that  is  six  months  plus  one  day  after  the  date  of              “separation  from  service”  (as  determined  under  Section  409A  of  the              Code) (the “New Payment Date”), except as Section 409A of the Code              may then permit.  The aggregate of any payments that otherwise would              have been paid to you during the period between the date of separation              from service and the New Payment Date shall be paid to you in a lump              sum on such New Payment Date, and any remaining payments will be              paid on their original deferral schedule.  16.   Miscellaneous.         (a)   Awards Discretionary.  By accepting this Award, you acknowledge and  agree  that  the  Plan  is  discretionary  in  nature  and  limited  in  duration,  and  may  be  amended, cancelled, forfeited, or terminated by the Company, in its sole discretion, at  any  time.   The  grant  of  this  Award  is  a  one-time  benefit  and  does  not  create  any  contractual  or  other  right  to  receive  an  award,  compensation  or  benefits  in  lieu  of  an  award in the future.  Future awards, if any, will be at the sole discretion of the Company,  including, but not limited to, the form and timing of an award, the number of shares of  Common Stock subject to an award, and forfeiture, clawback and vesting provisions.         (b)   Company and Committee Discretion.  Sections 3, 4, 5, 6, 7 and 8 of  this Agreement are intended to comply with and meet the requirements of applicable law  and  related  implementing  regulations  regarding incentive  compensation  and  will  be  interpreted  and  administered  accordingly  as  well  as  in  accordance  with  any                                     11                                        

 

   implementing policies and practices of the Company or its relevant Subsidiaries in effect  from  time  to  time.   In  making  determinations  under  such Sections,  the  Company,  the  relevant  Subsidiary  or  the Board,  as  applicable,  may  take  into  account,  in  its  sole  discretion, all factors that it deems appropriate or relevant.  Furthermore, the Company,  the  relevant  Subsidiary  or  the Board may,  as  applicable,  take  any  and  all  actions  it  deems necessary or appropriate in its sole discretion, as permitted by applicable law, to  implement the intent of Sections 4, 5, 6, 7 and 8, including suspension of vesting and  payment  pending  an  investigation  or  the  determination  by  the  Company,  the  relevant  Subsidiary  or  the Board as  applicable.   Each  such  Section  is  without  prejudice  to  the  provisions of the other Sections, and the Company, the relevant Subsidiary or the Board,  as applicable, may elect or be required to apply any or all of the provisions of Sections 3,  4, 5, 6, 7 and 8 to this Award.         (c)   Voluntary Participation.  Your participation in the Plan is voluntary.  The  value  of  this  Award  is  an  extraordinary  item  of  compensation,  is  outside  the  scope of  your  employment  contract,  if  any,  and  is  not  part  of  your  normal  or  expected  compensation for purposes of calculating any severance, resignation, redundancy, end  of  service  payments,  bonuses,  long-service  awards,  pension  or  retirement  benefits  or  similar payments.         (d)   Electronic Delivery.  The Company or any of its Subsidiaries may, in its  sole  discretion,  decide  to  deliver  any  documents  related  to  this  Award  by  electronic  means.   You  hereby  consent  to  receive  such  documents  by  electronic  delivery  and  agree to  participate  in  the  Plan  through  an  on-line  or  electronic  system,  including  the  Website, established and maintained by the Company, any of its Subsidiaries, the Equity  Administrator or another party designated by the Company.         (e)   Electronic Acceptance.  By accepting this Award electronically,                (i)   you acknowledge and agree that you are bound by the terms of        this Agreement and the Plan and that you and this Award are subject to all of the        rights, power and discretion of the Company, its Subsidiaries and the Board set        forth in this Agreement and the Plan; and                (ii)  this  Award  is  deemed  accepted  by  the  Company  and  the        Company shall be deemed to be bound by the terms of this Agreement.         (f)   Language.  You acknowledge and agree that it is your express intent that  this  Agreement,  the  Plan  and  all  other  documents,  notices  and  legal  proceedings  entered into, given or instituted pursuant to this Award, be drawn up in English.  If you  have received this Agreement, the Plan or any other documents related to this Award  translated  into  a  language  other  than  English,  and  if  the  meaning  of  the  translated  version is different than the English version, the English version will prevail to the extent  permitted  under  local  law.  France: Une  version  française  de  cet  Accord  peut  être  consultée  sur  l’intranet. Poland: Kopię  tej  Umowy  w  języku  polskim  może  Pan/Pani  otrzymać wchodząc na Stronę.         (g)   Additional Requirements.  The Company reserves the right to impose  other requirements on this Award, any shares of Common Stock acquired pursuant to  this Award, and your participation in the Plan, to the extent the Company determines, in  its sole discretion, that such other requirements are necessary or advisable in order to                                     12                                        

 

   comply  with  local  laws,  rules and  regulations,  or  to  facilitate  the  operation  and  administration of this Award and the Plan.  Such requirements may include (but are not  limited to) requiring you to sign any agreements or undertakings that may be necessary  to accomplish the foregoing.  Further, issuance of Common Stock hereunder is subject  to compliance by the Company and you with all legal requirements applicable thereto,  including compliance with the requirements of 12 C.F.R. Part 359, and with all applicable  regulations of any stock exchange on which the Common Stock may be listed at the time  of issuance.         (h)   Public  Offering.  If  you  are  a  resident  and/or  employed  outside  the  United States, the grant of this Award is not intended to be a public offering of securities  in  your  country  of  residence  (and  country  of Employment,  if  different).   The  Company  has not submitted any registration statement, prospectus or other filings with the local  securities authorities (unless otherwise required under local law), and the grant of this  Award is not subject to the supervision of the local securities authorities.         (i)   Limitation  of  Liability.  No  individual  acting  as  a  director,  officer,  employee or agent of the Company or any of its Subsidiaries will be liable to you or any  other  person  for  any  action,  including  any  Award  forfeiture,  Award  recovery  or  other  discretionary action taken pursuant to this Agreement or any related implementing policy  or procedure of the Company.           (j)   Insider Trading.  By participating in the Plan, you agree to comply with  the Company’s policy on insider trading (to the extent that it is applicable to you).  You  further  acknowledge  that,  depending  on  your  country  of  residence  (and  country  of  Employment, if different) or your broker’s country of residence or where the shares of  Common  Stock  are  listed,  you  may  be  subject  to  insider  trading  restrictions  and/or  market  abuse  laws  which  may  affect  your  ability  to  accept,  acquire,  sell  or  otherwise  dispose of the shares of Common Stock, rights to shares of Common Stock (e.g., this  Award) or rights linked to the value of shares of Common Stock, during such times you  are considered to have “inside information” regarding the Company (as defined by the  laws or regulations in your country of residence (and country of Employment, if different).  Local  insider  trading  laws  and  regulations  may  prohibit  the  cancellation, forfeiture or  amendment  of  orders  you  place  before  you  possess  inside  information.   Furthermore,  you could be prohibited from                (i)  disclosing  the  inside  information  to  any  third  party  (other  than  on  a        “need to know” basis) and                (ii)  “tipping”  third  parties  or  causing  them  otherwise  to  buy  or  sell        securities.   You  understand  that  third  parties  include  fellow  employees.   Any        restriction under these laws or regulations is separate from and in addition to any        restrictions that may be imposed under any applicable Company insider trading        policy.  You  hereby  expressly  acknowledge  that  it  is  your  responsibility  to  be        informed  of  and  compliant  with  such  regulations,  and  should  consult  with  your        personal advisor for additional information.         (k)   Exchange  Rates.  Neither  the  Company,  your  Employer  or  any  Subsidiary  shall  be  liable  for  any  foreign  exchange  rate  fluctuation,  where  applicable,  between your local currency and the United States dollar that may affect the value of an                                     13                                        

 

   Award  or  of  any  amounts  due  to  you  pursuant  to  the  settlement  of  this  Award  or  the  subsequent sale of any shares of Common Stock acquired under the Plan.         (l)   Applicable  Law.  This  Agreement  shall  be  subject  to  and  governed  by  the  laws  of  the  Commonwealth  of  Massachusetts,  United  States  of  America  without  regard to that Commonwealth’s conflicts of law principles.   17.   Application of Local Law and Countries Addendum.        (a)   Notwithstanding Section 16(l), this Award shall be subject to all applicable  laws, rules and regulations of your country of residence (and country of Employment, if  different)  and any special  terms  and  conditions  for  your  country  of  residence  (and  country of Employment, if different), including as set forth in the addendum that follows  this Agreement ("Countries Addendum"), but limited to the extent required by local law.   The Company reserves the right, in its sole discretion, to add to or amend the terms and  conditions  set  out  in  the Countries  Addendum  as necessary  or  advisable  in  order  to  comply  with applicable laws,  rules  and  regulations or  to  facilitate  the  operation  and  administration  of  this  Award  and  the  Plan,  including  (but  not  limited to)  circumstances  where you transfer residence and/or Employment to another country.         (b)   As  a  condition  to  this  Award,  you  agree  to  repatriate  all  payments  attributable  to  the Common  Stock acquired  under  the  Plan  in  accordance  with  local  foreign  exchange  rules  and  regulations  in  your  country  of  residence  (and  country  of  Employment, if different).  In addition, you also agree to take any and all actions, and  consent to any and all actions taken by the Company and its Subsidiaries, as may be  required to allow the Company and its Subsidiaries to comply with local laws, rules and  regulations  in  your  country  of  residence  (and  country  of Employment,  if  different).   Finally, you agree to take any and all actions as may be required to comply with your  personal legal, tax and other obligations under local laws, rules and regulations in your  country of residence (and country of Employment, if different).   18.   Data Privacy.   The  Company  is  located  at  One  Lincoln  Street,  Boston,  Massachusetts,  U.S.A.  and  grants Awards under the Plan to employees of the Company and its Subsidiaries in its  sole  discretion. You  should  carefully  review  the  following  information  about  the  Company’s data privacy practices in relation to your Award.        (a)   Data  Collection,  Processing  and  Usage. Pursuant  to  applicable  data  protection  laws,  you  are  hereby  notified that the  Company and  your  Employer collect,  process  and  use  certain  personal  data about  you  for  the  legitimate  interest  of  implementing,  administering  and  managing  the  Plan  and  generally  administering   Awards; specifically, including your name, home address, email address and telephone  number,  date  of  birth, social  security  number, social  insurance  number  or  other  identification  number,  salary,  citizenship,  job  title,  any  shares  of  Common  Stock  or  directorships  held  in  the  Company,  and  details of  all Awards or  any  other incentive  compensation awards granted, canceled, forfeited, exercised, vested, or outstanding in  your favor, which the Company receives from you or your Employer. In granting Awards  under the Plan, the Company will collect your personal data for purposes of allocating  Awards and  implementing,  administering  and  managing  the  Plan.   The  Company’s  collection, processing and use of your personal data is necessary for the performance of  the Company’s contractual obligations under the Plan and pursuant to the Company’s  legitimate  interest  of  managing  and  generally  administering  employee incentive                                     14                                        

 

   compensation awards. Your refusal to provide personal data would make it impossible  for  the  Company  to  perform  its  contractual  obligations  and  may  affect  your  ability  to  participate in the Plan. As such, by participating in the Plan, you voluntarily acknowledge  the collection, processing and use of your personal data as described herein.           (b)   Equity Administrator. The Company transfers your personal data to the  Equity Administrator, which assists the Company with the implementation, administration  and management of the Plan.  In the future, the Company may select a different Equity  Administrator  and  share  your  personal  data  with  another  company  that  serves  in  a  similar  manner.   The Equity Administrator  will  open  an  account  for  you  to track  your  Award and to ultimately receive and trade shares of Common Stock acquired under the  Plan. You will be asked to agree on separate terms and acknowledge data processing  practices with the Equity Administrator, which is a condition to your ability to participate  in the Plan.         (c)   Data Retention. The Company will use your personal data only as long  as is necessary to implement, administer and manage your participation in the Plan or  as  required  to  comply  with  legal  or  regulatory  obligations,  including  under  tax  and  security  laws. When  the  Company  no  longer  needs  your  personal  data,  the  Company  will remove it from its systems.  If the Company keeps your data longer, it would be to  satisfy  legal  or  regulatory  obligations  and  the  Company’s  legal  basis  would  be  for  compliance with relevant laws or regulations.                       For further information about the processing of your personal data, please see the  GHR Privacy Notice.                                                                 **********************************                                                                                                     15                                        

 

                                 APPENDIX A                          COUNTRIES ADDENDUM                TO [____] DEFERRED STOCK AWARD AGREEMENT                                                             STATE STREET CORPORATION                        2017 STOCK INCENTIVE PLAN                                                          A. United States                    B. Australia                    C. Austria                    D. Belgium                    E. Brazil                    F. Canada                    G. Cayman Islands                    H. China                    I. Denmark                    J. France                    K. Germany                    L. Hong Kong                    M. India                    N. Ireland                    O. Italy                    P. Japan                    Q. Jersey                    R. Luxembourg                    S. Netherlands                    T. Norway                    U. Poland                    V. Singapore                    W. South Africa                    X. Switzerland                    Y. Taiwan                    Z. United Arab Emirates                    AA.   United Kingdom                               A.    UNITED STATES  ______________________________________________________________________                                        In consideration of your receipt of this Award, you expressly agree to comply  with the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid, delivered or repaid, under this Award at any time, including the time you  separate from service with the Company and its Subsidiaries.  Failure to comply with the  terms and conditions of this Countries Addendum A may result in the sole determination  of the Company in the forfeiture of any or all of the amounts remaining to be paid under  this Award.  In addition, your eligibility to participate in the Plan in the future, including any potential  future  grants  of  awards  under  the  Plan  (or  any  successor  incentive  plan  of  the                                     16                                        

 

   Company),  is  subject  to  and  conditioned  on  your  compliance  with  the  terms  and  conditions of this Countries Addendum A.   This Countries Addendum A contains a covenant not to compete in Paragraph 5 which  shall  apply  to  you  at  any  time  that  you hold  the  title  of  Executive  Vice  President  or  higher.   You  should  review  it  carefully. You  may  consult  with  an  attorney  before  accepting the Award. You may consider whether you wish to accept the Award for up to  30 days from the date it was first made available to you on the Website.  By accepting  the Award, you acknowledge and agree that it is fair and adequate consideration for the  covenant not to compete and other promises you make in this Countries Addendum A.   All terms used herein shall have the meaning given to them in the Plan or this Award,  except as otherwise expressly provided herein.   1.    Confidentiality.          (a)   You acknowledge that you have access to Confidential Information which  is not generally known or made available to the general public and that such Confidential  Information  is  the  property  of  the  Company,  its  Subsidiaries  or  its  or  their  licensors,  suppliers  or  customers.   Subject  to  Paragraph 17,  below,  you  agree  specifically  as  follows,  in  each  case  whether  during  your Employment or  following the  termination  thereof:               (i)   You  will  always  preserve  as  confidential  all  Confidential        Information, and will never use it for your own benefit or for the benefit of others;        this  includes  that  you  will  not  use  the  knowledge  of  activities  or  positions  in        clients’ securities portfolio accounts or cash accounts for your own personal gain        or for the gain of others.              (ii)  You  will  not  disclose,  divulge,  or  communicate  Confidential        Information to any unauthorized person, business or corporation during or after        the termination of your Employment with the Company and its Subsidiaries.  You        will  use  your  best  efforts  and  exercise  due  diligence  to  protect, to  not disclose        and to keep as confidential all Confidential Information.              (iii) You  will  not  initiate  or  facilitate  any  unauthorized  attempts  to        intercept data in transmission or attempt entry into data systems or files.  You will        not intentionally affect the integrity of any data or systems of the Company or any        of  its  Subsidiaries  through  the  introduction  of  unauthorized  code  or  data,  or        through  unauthorized  deletion  or  addition.   You  will  abide  by  all  applicable        Corporate Information Security procedures.              (iv)  Upon  the  earlier  of  request  or  termination  of Employment,  you        agree to return to the Company or the relevant Subsidiaries, or if so directed by        the Company or the relevant Subsidiaries, destroy any and all copies of materials        in your possession containing Confidential Information.        (b)   The terms of this Countries Addendum A do not apply to any information  which is previously known to you without an obligation of confidence or without breach of  this Countries Addendum A, is publicly disclosed (other than by a violation by you of the  terms  of this  Countries  Addendum  A)  either  prior  to  or  subsequent  to  your  receipt  of  such information, or is rightfully received by you from a third party without obligation of  confidence and other than in relation to your Employment with the Company or any of its  Subsidiaries.                                     17                                        

 

   State Street recognizes that certain disclosures of confidential information to appropriate  government  authorities or  other  designated  persons are  protected  by  “whistleblower”  and  other  laws.   Nothing  in this  Countries  Addendum  A is  intended  to  or  should  be  understood or  construed to  prohibit  or  otherwise  discourage  such  disclosures.   State  Street will not tolerate any discipline or other retaliation against employees who properly  make such legally-protected disclosures.   2.    Assignment and Disclosure.          (a)   You acknowledge that, by reason of being employed by your Employer, to  the extent permitted by law, all works, deliverables, products, methodologies and other  work product conceived, created and/or reduced to practice by you, individually or jointly  with others, during the period of your Employment by your Employer and relating to the  Company  or  any  of  its  Subsidiaries or  demonstrably  anticipated  business,  products,  activities, research or development of the Company or any of its Subsidiaries or resulting  from any work performed by you for the Company or any of its Subsidiaries, including,  without limitation, any track record with which you may be associated as an investment  manager or fund manager (collectively, “Work Product”), that consists of copyrightable  subject matter is "work made for hire" as defined in the Copyright Act of 1976 (17 U.S.C.  §  101),  and  such  copyrights  are  therefore  owned,  upon  creation,  exclusively  by  State  Street. To the extent the foregoing does not apply and to the extent permitted by law,  you hereby assign and agree to assign, for no additional consideration, all of your rights,  title and interest in any Work Product and any intellectual property rights therein to State  Street.   You  hereby  waive  in  favor  of State  Street any  and  all  artist’s  or  moral  rights  (including without limitation, all rights of integrity and attribution) you may have pursuant  to any state, federal or foreign laws, rules or regulations in respect of any Work Product  and all similar rights thereto.  You will not pursue any ownership or other interest in such  Work Product, including, without limitation, any intellectual property rights.         (b)   You  will  disclose  promptly  and  in  writing  to  the  Company  or  your  Employer all Work Product, whether or not patentable or copyrightable.  You agree to  reasonably cooperate with State Street               (i)   to  transfer  to  State  Street  the Work  Product  and  any  intellectual        property rights therein,               (ii)  to obtain or perfect such rights,               (iii) to execute all papers, at State Street’s expense, that State Street        shall  deem  necessary  to  apply  for  and  obtain  domestic  and  foreign  patents,        copyright and other registrations, and               (iv)  to protect and enforce State Street’s interest in them.          (c)   These obligations shall continue beyond the period of your Employment  with respect to inventions or creations conceived or made by you during the period of  your Employment.   3.    Non-Solicitation.         (a)   This Paragraph 3 shall apply to you at any time that you hold the title of  Vice President or higher.        (b)   You  agree  that,  during  your Employment and  for  a  period  of six  (6)  months from the date your Employment terminates for any reason you will not, without  the prior written consent of the Company or your Employer:                                      18                                        

 

               (i)   solicit,  directly  or  indirectly  (other  than  through  a  general        solicitation of employment not specifically directed to employees of the Company        or any of its Subsidiaries), the employment of, hire or employ, recruit, or in any        way  assist  another  in  soliciting  or  recruiting  the  employment  of,  or  otherwise        induce the termination of the employment of, any person who then or within the        preceding  twelve  (12)  months  was  an  officer  of  the  Company  or  any  of  its        Subsidiaries  (excluding  any  such  officer  whose  employment  was  involuntarily        terminated); or               (ii)  engage in the Solicitation of Business from any Client on behalf of        any person or entity other than the Company or any of its Subsidiaries.        (c)   Paragraph  3(b)(i)  above  shall  be  deemed  to  exclude  the  words  “hire  or  employ” if your work location is in California or New York, and shall be construed and  administered accordingly.              (i)   For  purposes  of  this  Paragraph  3,  “officer”  shall  include  any              person  holding  a  position  title  of  Assistant  Vice  President  or  SSGA              Principal  4  or  higher.   Notwithstanding  the  foregoing,  this  Paragraph  3              shall be inapplicable following a Change in Control.   4.    Notice Period Upon Resignation.          (a)   This Paragraph 4 shall apply to you at any time that you hold the title of  Managing  Director  or  higher (or,  any  time  that  you  hold  the  title  of  Vice  President  or  higher in State Street Global Markets (“SSGM”)).  If you are subject to an employment  agreement  that  requires  a  longer  notice  period,  that  employment  agreement  shall  govern.        (b)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their  business interests and goodwill in the event of your resignation from Employment for any  reason,  you  agree  to  give  your  Employer  advance  notice  of  your  resignation.   The  duration of the advance notice you provide (the “Notice Period”) will be determined by  your title at the time you deliver such notice, as follows:              (i)   if you are a member of the Management Committee, you will give        180 days’ advance notice;              (ii)  if  you  are  an  Executive  Vice  President or  higher,  you  will  give        ninety (90) days’ advance notice;               (iii) if you are a Vice President in SSGM, you will give thirty (30) days’        advance notice; and              (iv)  otherwise, you will give sixty (60) days’ advance notice.        (c)   During the Notice Period, you will cooperate with your Employer, as well  as the Company and its Subsidiaries, and provide them with any requested information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or  preserving its or their client relationships.          (d)   In  its  sole  discretion,  during  the  Notice  Period,  your  Employer  or  the  Company may place you on a partial or complete leave of absence and relieve you of  some  or  all  of  your  duties  and  responsibilities.   Except  as provided  otherwise  in  (e)  below, at all times during the Notice Period you shall continue to be an employee of your  Employer, shall continue to receive your regular salary and benefits (although you may  not be eligible for any new incentive compensation awards or, subject to applicable law,                                     19                                        

 

   to  accrue  any  paid  vacation  time),  and  shall  continue  to  comply  with  the  applicable  policies of your Employer, the Company and its Subsidiaries.          (e)   You  agree  that  should  you  fail  to  provide  advance  notice  of  your  resignation as required in this Paragraph 4, your Employer, the Company or any of its  Subsidiaries shall be entitled to seek injunctive relief restricting you from employment for  a  period  equal  to  the  period  for  which  notice  of  resignation  was  required  but  not  provided, and for the period of restriction under Paragraph 5, if applicable, in addition to  any other remedies available under law.         (f)   If  you  have sixty  (60) or  fewer  days’  notice  remaining  in  your  required  Notice  Period  under  this  Paragraph  4,  your  Employer, or  the  Company,  or  any  of  its  Subsidiaries may, at any time during the remainder of your Notice Period, release you  from  your  obligations  under  this  Paragraph  4  and  give  immediate  effect  to  your  resignation; provided that such action shall not affect your other obligations under this  Countries Addendum A.          (g)   Notwithstanding  the  foregoing,  if  you  hold  the  title  of  Executive  Vice  President or  higher this  Paragraph  4  shall  not  apply  in  the  event  you  terminate  your  Employment for Good Reason on or prior to the first anniversary of a Change in Control  (each as defined in the Plan).   5.    Non-Competition.        (a)   This Paragraph 5 shall apply to you at any time that you hold the title of  Executive  Vice  President  or  higher,  except  as  provided  below.  You  should  review  it  carefully and may, if you wish, consult with an attorney before accepting this Award.        (b)   During  your Employment and  for  the twelve  (12) months  following  its  termination  for  any  reason (the  “Non-Compete  Period”), you  will  not,  anywhere  in  the  Restricted Area, for yourself or any other person or entity, directly or indirectly, in any  Restricted  Capacity,  engage  in,  provide  services  to,  consult  for,  or  be  employed  by  a  business that provides products or services competitive with any products or services of  your Employer, the Company or any of its Subsidiaries with respect to which you were  involved at any time during your Employment or, with respect to the portion of the Non- Compete  Period  that  follows  termination  of your Employment,  within  the  two  years  preceding the date of the termination of your Employment.         (c)   If you reside in or have a primary reporting location in California, then this  Paragraph  5  applies  only  during  your  Employment,  but  has  no  effect  after  the  termination of your Employment for any reason.         (d)   If  you  reside  in  or  are  employed  in  Massachusetts  and  State  Street  terminates  your  employment  involuntarily  not for  cause,  then  this  Paragraph  5  applies  only  during  your  Employment,  but  has  no  effect  after  such  termination.  Here,  “cause”  means                (i)   your Employer’s or the Company’s good faith determination that it        has  a  reasonable  basis  for  dissatisfaction  with  your  Employment  for  reasons        such  as  lack  of  capacity  or  diligence,  failure  to  conform  to  usual  standards  of        conduct, or other culpable or inappropriate behavior or               (ii)  other  grounds  for  discharge  that  are  reasonably  related,  in  your        Employer’s or the Company’s honest judgment, to the needs of the business of                                     20                                        

 

         your Employer, the Company or any of its Subsidiaries. In addition, if you violate        a fiduciary duty to your Employer, the Company or any of its Subsidiaries, then        the  post-employment  portion  of  the  Non-Compete  Period  shall  be  extended  by        the time during which you engage in such activities, for up to a total of 2 years        following termination of your Employment.        (e)   “Restricted Area” means anywhere that your Employer, the Company or  any  of  its Subsidiaries markets  its  products  or  services  (which  you  acknowledge  specifically includes the entire world), or with respect to the portion of the Non-Compete  Period  that  follows  termination  of  your Employment,  anywhere  in  which  you  provided  services  or  had  a  material  presence  or  influence  on  behalf  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries  at  any  time  within  the  2-year  period  immediately  preceding such termination.         (f)   “Restricted Capacity” means any capacity, or with respect to the portion  of the Non-Compete Period that follows termination of your Employment, any capacity  that  is  the  same  or  similar  to  the  capacity  in  which  you  were  employed  by  your  Employer, the Company or any of its Subsidiaries at any time within the 2-year period  immediately preceding such termination and/or involves any services that you provided  to your Employer, the Company or any of its Subsidiaries at any time within such 2-year  period.   6.    Definitions – Countries  Addendum.  For  the  purpose  of this  Countries  Addendum A, the following terms are defined as follows:          (a)   “Client” means a prospective, present or former customer or client of the  Company or any of its Subsidiaries with whom you have had, or with whom persons you  have  supervised  have  had,  substantive  and  recurring  personal  contact  during  your  Employment with the Company or any of its Subsidiaries.  A former customer or client  means a customer or client for which the Company or any of its Subsidiaries stopped  providing all services within twelve (12) months prior to the date your Employment with  your Employer ends.          (b)   “Confidential  Information”  includes  but  is  not  limited  to  all  trade  secrets,  trade  knowledge,  systems,  software,  code,  data  documentation,  files,  formulas,  processes,  programs,  training  aids,  printed  materials,  methods,  books,  records,  client  files,  policies  and  procedures,  client  and  prospect  lists,  employee  data  and  other  information relating to the operations of the Company or any of its Subsidiaries and to its  or  any  of  their  customers,  and  any  and  all  discoveries,  inventions  or  improvements  thereof made or conceived by you or others for the Company or any of its Subsidiaries  whether  or  not  patented  or  copyrighted,  as  well  as  cash  and  securities  account  transactions  and  position  records  of  clients,  regardless  of  whether  such  information  is  stamped “confidential.”         (c)    “Person” means an individual, a corporation, a limited liability company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other than your Employer, the Company or any of its Subsidiaries.        (d)    “Solicitation  of  Business”  means  the  attempt  through  direct  or  indirect  contact by you or by any other Person with your assistance to induce a Client to:                (i)   transfer  the  Client’s  business  from  the  Company  or  any  of  its        Subsidiaries to any other person or entity;                                      21                                        

 

               (ii)  cease or curtail the Client’s business with the Company or any of        its Subsidiaries; or               (iii) divert  a  business  opportunity  from  the  Company  or  any  of  its        Subsidiaries  to  any  other  person  or  entity,  which  business  or  business        opportunity  concerns  or  relates  to  the  business  with  which  you  were  actively        connected during your Employment with the Company or any of its Subsidiaries.          (e)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common control with the Company, including direct and indirect subsidiaries.    7.    Definition – Award  Agreement.  For  the  purpose  of  the  Award  Agreement,         Restrictive Covenant is defined as follows:    “Restrictive  Covenant” means  any  confidentiality,  non-solicitation,  non-competition,   non-disparagement, post-employment cooperation or notice provision that you agree   to  or  had agreed  to  with your Employer,  including  but  not  limited  to  the  restrictions   contained  in  the  Award  Agreement,  any  employment  agreement  or  offer  letter,   deferred compensation award agreement of any type, change in control employment   agreement or required as a condition to entitlement to payment under any executive   supplemental retirement plan.   8.    Post-Employment  Cooperation.  You  agree  that,  following  the  termination  of  your Employment with the Company and its Subsidiaries, you will reasonably cooperate  with the Company or the relevant Subsidiary with respect to any matters arising during  or  related  to  your Employment,  including  but  not  limited  to  reasonable  cooperation  in  connection  with  any  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding  (even  if  such  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding arises following the date of this Award to which this Countries Addendum A  is appended or following the termination of your Employment).  The Company or any of  its  Subsidiaries  shall  reimburse  you  for  any  reasonable  out-of-pocket  and  properly  documented expenses you incur in connection with such cooperation.   9.    Non-Disparagement.  Subject  to  Paragraph  17,  below,  you  agree  that  during  your Employment and  following  the  termination  thereof  you  shall  not  make  any  false,  disparaging, or derogatory statements to any media outlet (including Internet-based chat  rooms, message boards, any and all social media, and/or web pages), industry groups,  financial  institutions,  or  to  any  current,  former  or  prospective  employees,  consultants,  clients,  or  customers  of  the  Company  or  its  Subsidiaries  regarding  the  Company,  its  Subsidiaries  or  any  of  their  respective directors,  officers,  employees,  agents,  or  representatives, or about the business affairs or financial condition of the Company or  any of its Subsidiaries.   10.   Enforcement.  You acknowledge and agree that the promises contained in this  Countries  Addendum  A are necessary  to  the  protection  of  the  legitimate  business  interests of your Employer, the Company and its Subsidiaries, including without limitation  its and their Confidential Information, trade secrets and goodwill, and are material and  integral  to the  undertakings  of the  Company  under  this  Award  to  which this  Countries  Addendum A is appended.  You further agree that one or more of your Employer, the  Company and its Subsidiaries will be irreparably harmed in the event you do not perform  such promises in accordance with their specific terms or otherwise breach the promises  made  herein.   Accordingly,  your  Employer,  the  Company  and  any  of  its  Subsidiaries                                     22                                        

 

   shall each be entitled to preliminary or permanent injunctive or other equitable relief or  remedy without the need to post bond, and to recover its or their reasonable attorney’s  fees and costs incurred in securing such relief, in addition to, and not in lieu of, any other  relief or remedy at law to which it or they may be entitled.  You further agree that, the  periods of restriction contained in this Countries Addendum A shall be tolled, and shall  not  run,  during  any  period  in  which  you  are  in  violation  of  the  terms  of this  Countries  Addendum A, so that your Employer, the Company and its Subsidiaries shall have the  full protection of the periods agreed to herein.  Should the Company determine that any  portion of the Deferred Shares granted to you in connection with this Award are to be  forfeited on account of your breach of the provisions of this Countries Addendum A, any  unvested portion of your Award will cease to vest upon such determination.   11.   No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries  in  exercising  any  right  under this  Countries  Addendum  A shall  operate as  a  waiver of  that right or of any other right.  Any waiver or consent as to any of the provisions herein  provided by your Employer, the Company or any of its Subsidiaries must be in writing, is  effective only in that instance, and may not be construed as a broader waiver of rights or  as a bar to enforcement of the provision(s) at issue on any other occasion.   12.   Relationship to Other Agreements.  This Addendum A supplements and does  not limit, amend or replace any other obligations you may have under applicable law or  any other agreement or understanding you may have with your Employer, the Company  or any of its Subsidiaries or pursuant to the applicable policies of any of them, whether  such  additional  obligations  have  been  agreed  to  in  the  past,  or  are  agreed  to  in  the  future.   13.   Interpretation  of  Business  Protections.  The  agreements  made  by  you  in  Paragraphs 1, 2, 3, 4 and 5 above shall be construed and interpreted in any judicial or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum  extent  permitted by law, and each of the provisions to this Countries Addendum A is severable  and  independently  enforceable  without  reference  to  the  enforcement  of  any  other  provision.  If any restriction set forth in this Countries Addendum A is found by any court  of competent jurisdiction to be unenforceable because it extends for too long a period of  time or over too great a range of activities or in too broad a geographic area, it shall be  interpreted  to  extend  only  over  the  maximum  period of  time,  range  of  activities  or  geographic area as to which it may be enforceable.   14.   Assignment.  Except as provided otherwise herein, this Countries Addendum A  shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors and assigns, including any person or entity which acquires the Company or  its assets or business; provided, however, that your obligations are personal and may  not be assigned by you.    15.   Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will be  deemed  to  have  acknowledged  and  agreed  that  you  are  bound  by  the  terms  of this  Countries Addendum A, and it shall be deemed to have been accepted by the Company.   You  agree  that  this  electronic  acceptance  by  both  you  and  the  Company  shall  be  deemed equivalent to the Award having been signed by both parties.   16.   Notification  Requirement.  Until forty-five  (45) days  after  the  period  of  restriction under Paragraph 5 expires, you shall give notice to the Company of each new                                     23                                        

 

   business activity you plan to undertake, at least five (5) business days prior to beginning  any such activity.  Such notice shall state the name and address of the Person for whom  such  activity  is  undertaken  and  the  nature  of  your  business  relationship(s)  and  position(s) with such Person.  You shall provide the Company with such other pertinent  information concerning such business activity as the Company may reasonably request  in  order  to  determine  your  continued  compliance  with  your  obligations  under this  Countries Addendum A.   17.   Certain Limitations.        (a)   Nothing  in this  Countries  Addendum  A prohibits  you  from  reporting  possible violations of federal law or regulation to any governmental agency or regulatory  authority  or  from  making  other  disclosures  that  are  protected  under  the  whistleblower  provisions of federal law or regulation.  Moreover, nothing in this Countries Addendum A  requires you to notify the Company that you have made any such report or disclosure.   However,  in  connection  with  any  such  activity,  you  acknowledge  you  must  take  reasonable precautions to ensure that any Confidential Information that is disclosed to  such authority is not made generally available to the public, including by informing such  authority of the confidentiality of the same.  You shall not be held criminally or civilly liable under any Federal or State trade secret  law if you disclose a Company trade secret               (i)   in  confidence  to  a  Federal,  State,  or  local  government  official,              either  directly  or  indirectly,  or  to  an  attorney,  solely  for  the  purposes  of              reporting or investigating a suspected violation of law; or               (ii)  in  a  complaint  or  other  document  filed  in  a  lawsuit  or  other              proceeding, if such filing is made under seal.        (b)   Despite the foregoing, you also acknowledge that you are not permitted to  disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any  information learned in the course of your Employment that is protected from disclosure  by  any  applicable  privilege,  including  but  not  limited  to  the  attorney-client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,  and/or  privileges  applicable to information covered by the Bank Secrecy Act (31 U.S.C. §§ 5311-5330),  including  information  that  would  reveal  the  existence  or  contemplated  filing  of  a  suspicious  activity  report.   Your  Employer,  the  Company  and  its  Subsidiaries  do  not  waive any applicable privileges or the right to continue to protect its and their privileged  attorney-client information, attorney work product, and other privileged information.                               *     *    *     *    *   *   *  Entire Agreement.  The Plan and the Agreement constitute the complete understanding  and agreement between the parties to the Agreement with respect to this Award, and  supersedes  and  cancels  any  previous  oral  or  written  discussions,  agreements  or  representations regarding this Award or the Common Stock.                               B.    AUSTRALIA  ______________________________________________________________________    1.     Award  Conditioned  on  Satisfaction  of  Regulatory  Obligations.  If  you  are  (a) a  director  of  a  Subsidiary  incorporated  in  Australia,  or  (b)  a  person  who  is  a  management-level executive of a Subsidiary incorporated in Australia and who also is a                                     24                                        

 

   director  of  a  Subsidiary  incorporated  outside  of  Australia,  the  grant  of this Award  is  conditioned upon satisfaction of the shareholder approval provisions of section 200B of  the Corporations Act 2001 (Cth) in Australia.      2.    Tax  Deferral.   This  Award  is  intended  to  be  subject  to  tax  deferral  under  Subdivision 83A-C of the Income Tax Assessment Act 1997 (subject to the conditions  and requirements thereunder).    3.    Attached  Offer  Document.  The terms  of  your  Award  incorporate the rules  of  the Plan, the Agreement, this Countries Addendum and the provisions of the attached  Offer Document.  The Offer Document is hereby incorporated into, and forms an integral  and material part of, the Agreement and this Countries Addendum.  By accepting your  Award,  you  will  be  bound  by  the  rules  of  the  Plan, the Agreement,  this  Countries  Addendum and the attached Offer Document.        4.    Notice  and  Non-Compete. In  consideration  of  your  receipt  of  this  Award,  you  expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited,  paid,  delivered  or  repaid,  under  this  Award at any time, including the time you separate from service with your Employer, the  Company and its Subsidiaries.  It is a condition of this Award that, if you fail to comply  with the terms and conditions below, then the Company may in its absolute discretion  determine that any or all of the amounts remaining to be paid under this Award should  be forfeited.  All terms used herein shall have the meaning given to them in the Plan or the Award,  except as otherwise expressly provided herein.     (a)   Notice Period Upon Resignation.       (i)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their     business interests and goodwill in the event of your resignation from Employment     for any reason, if you hold the title of Executive Vice President or higher immediately     prior to termination of your Employment, you agree to give your Employer advance     notice  of  your resignation.  The  duration  of  the  advance  notice  you  provide  (the     “Notice Period”) will be determined by your title at the time you deliver such notice,     as follows—           (1)   If  you  are  a  member  of  the  State  Street  Corporation  Management           Committee, you will give 180 days’ advance notice in writing; and           (2)   If  you  are  an Executive  Vice  President or  higher,  you  will  give  90           days’ advance notice in writing.           For the avoidance of doubt, the Notice Periods set out above shall be subject           always  to  any  contractual  obligation  you have  to  give  a  longer  period  of           notice  of  termination  of  your  Employment  (whether  such  obligation  is           contained in your contract of Employment or any other agreement to which           you are a party).      ii)  During the Notice Period, you will cooperate with your Employer, as well as      the  Company  and  its  Subsidiaries,  and  provide  them  with  any  requested      information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their      business,  and/or  preserving  its  or  their  client  relationships.  In  its  sole  discretion,      during the  Notice  Period,  your  Employer  or  the  Company  may  place  you  on  a                                     25                                        

 

                   partial or complete leave of absence and relieve you of some or all of your duties  and responsibilities. Except as provided otherwise in (iii)  below, at all times during  the  Notice  Period you  shall  continue  to  be  an  employee  of  your  Employer,  shall  continue  to  receive  your  regular  salary  and  benefits  and  you  will  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its  Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive  compensation  awards  made  on  or  after  the  first  day  of  the  Notice  Period  or  to  accrue  any  vacation save as required by statute.  iii) In its sole discretion, at any time during the Notice Period, the Company or your    Employer  may  release  you  from  your  obligations  under  this  Paragraph  (a)  by  giving immediate effect to your resignation and making a payment of basic salary  in lieu of any remaining portion of the Notice Period; provided that such action shall  not affect your other obligations under this Addendum.      (b)   Non-Competition.  i)   This  Paragraph (b)  shall  apply  to  you  at  any  time  that  you  hold  the title of  Executive  Vice  President  or  higher  and  following  the  termination  of  your  Employment  where  you  held  the  title  of  Executive  Vice  President  or  higher  immediately prior to such termination.  ii)  During your Employment and for the 12 months following its termination for  any  reason,  you  will  not  within  the  Restricted  Territory,  directly  or  indirectly,  whether  as  owner,  director,  partner,  investor, consultant,  agent,  employee,  co- venturer or otherwise and whether alone or in conjunction with or on behalf of any  other person:       (1) become  engaged,  employed,  concerned  or  interested  in  or  provide          technical,  commercial  or  professional  advice  to,  any  Person  which          supplies  or  provides  (or  intends  to  supply  or  provide)  Products  or          Services in competition with such parts of the business of the Employer or          any Relevant Group Company with which you were materially engaged or          involved or for which you were responsible during the Relevant Period;       (2) compete  with  your  Employer  or  any  Relevant  Group  Company,  or          undertake any planning for any business competitive with the business of          your Employer or any Relevant Group Company;       (3) engage  in  any  manner  in  any  activity  that  is  directly  or  indirectly          competitive or potentially competitive with the business of your Employer,          or  any  Relevant  Group  Company  as  conducted  or  under  consideration          during  the  Relevant  Period  and  further  agree  not  to  work  or  provide          services,  in  any  capacity,  whether  as  an  employee,  independent          contractor  or  otherwise,  whether  with  or  without  compensation,  to  any          Person  who  is  engaged  in  any  business  that  is  competitive  with  the          business  of  your  Employer  or  any  Relevant  Group  Company,  as          conducted or in planning during the Relevant Period.     iii) The  period  of  12  months  referred  to  in  Paragraph  3(b)(ii)  above  will  be       reduced by one day for every day during which, at the Employer’s direction,       you  are  on  a  complete  leave  of  absence  pursuant  to  Paragraph  3(a)(ii)       above.                                  26                                    

 

                      iv) Nothing  in  this  Paragraph  (b)  shall  prevent  your  passive  ownership  of  two        percent (2%) or less of the equity securities of any publicly traded company.  c) Definitions.  For the purpose of this Clause 4, the following terms are defined as     follows:       i) “Client” means a current or former customer or client of the Company or any        of its Subsidiaries with whom you have had, or with whom persons you have        supervised have had, substantive and recurring personal contact during the        Relevant Period. A former customer or client means a customer or client for        which the Company or any of its Subsidiaries stopped providing all services        within twelve months prior to the date your Employment with your Employer        ends.       ii) “Products or Services” means any products or services which are the same        as, of the same kind as, of a materially similar  kind to, or competitive with,        any products or services supplied or provided by your Employer or Relevant        Group Company and with which you were materially concerned or connected        within the Relevant Period.     iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an        association, a partnership, a limited liability partnership, an estate, a trust and        any other entity or organization (whether conducted on its own or as part of a        wider  entity),  other  than  your  Employer,  the  Company  or  any  of  its        Subsidiaries.     iv) “Relevant Group Company” means the Company and/or any Subsidiaries for        which  you  have  performed  services  or  in  respect  of  which  you  have  had        operational  or  managerial  responsibility  at  any  time  during  the  Relevant        Period.     v) “Relevant  Period”  means  the  period  of  24  months  immediately  before  the        date of termination of your Employment, or (where such provision is applied)        the  date  of  commencement  of  any  period  of  complete  leave  of  absence        pursuant to Paragraph 3(a)(ii).     vi) “Restricted Territory” means any area or territory:        (1) in which you worked during the Relevant Period; and/or        (2) in relation to which you were responsible for, or materially involved in, the           supply of Products or Services in the Relevant Period.     vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common        control with the Company, including direct and indirect subsidiaries.  d) Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of     your  Employment  with  the  Company  and  its  Subsidiaries,  you  will  reasonably     cooperate  with  the  Company  or  the  relevant  Subsidiary  with  respect  to  any     matters arising during or related to your Employment, including but not limited to     reasonable  cooperation  in  connection  with  any  litigation,  governmental     investigation,  or  regulatory  or  other  proceeding  (even  if  such  litigation,     governmental investigation, or regulatory or other proceeding arises following the     date  of  this  Award  to  which  this  Addendum  is  appended  or  following  the     termination of your Employment).  The Company or any of its Subsidiaries shall     reimburse  you  for  any  reasonable  out-of-pocket  and  properly  documented                                  27                                     

 

                      expenses you incur in connection with such cooperation.  e) Enforcement.  You acknowledge and agree that the promises contained in this     Clause 3 are necessary to the protection of the legitimate business interests of     your Employer, the Company and its Subsidiaries, including without limitation its     and  their  confidential  information,  trade  secrets  and  goodwill,  and  are  material     and integral to the undertakings of the Company under this Award to which this     Addendum is appended.  You further agree that one or more of your Employer,     the Company and its Subsidiaries will be irreparably harmed in the event you do     not perform such provisions in accordance with their specific terms or otherwise     breach  the  promises  made  herein.   Accordingly,  your  Employer,  the  Company     and  any  of  its  Subsidiaries  shall  each  be  entitled  to  preliminary  or  permanent     injunctive or other equitable relief or remedy without the need to post bond, and     to recover its or their reasonable attorney’s fees and costs incurred in securing     such relief, in addition to, and not in lieu of, any other relief or remedy at law to     which it or they may be entitled, including the immediate forfeiture of any as-yet     unvested portion of the Award.   f) No Waiver.  No delay by your Employer, the Company or any of its Subsidiaries     in  exercising  any  right  under  this  Addendum  shall  operate  as  a  waiver  of  that     right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the  provisions     herein provided by your Employer, the Company or any of its Subsidiaries must     be  in  writing,  is  effective  only  in  that  instance,  and  may  not  be  construed  as  a     broader waiver of rights or as a bar to enforcement of the provision(s) at issue on     any other occasion.  g) Relationship  to  Other  Agreements.   This  Addendum  supplements  and  does     not limit, amend or replace any other obligations you may have under applicable     law or any other agreement or understanding you may have with your Employer,     the Company or any of its Subsidiaries or pursuant to the applicable policies of     any of them, whether such additional obligations have been agreed to in the past,     or are agreed to in the future.  h) Interpretation  of  Business  Protections.  The  agreements  made  by  you  in     Paragraphs 3(a) and 3(b) above shall be construed and interpreted in any judicial     or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum     extent  permitted  by  law,  and  each  of  the  provisions  to  this  Addendum  is     severable and independently enforceable without reference to the enforcement of     any other provision.  Consistent with the Restraint of Trade Act 1976 (NSW), if     any  restriction  set  forth  in  this  Clause  3  is  found  by  any  court  of  competent     jurisdiction to be unenforceable because it extends for too long a period of time     or over too great a range of activities or in too broad a geographic area, it shall     be interpreted to extend only over the maximum period of time, range of activities     or geographic area as to which it may be enforceable.  i) Assignment.  Except  as  provided  otherwise  herein,  this  Addendum  shall  be     binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective     successors  and  assigns,  including  any  person  or  entity  which  acquires  the     Company or its assets or business; provided, however, that your obligations are     personal and may not be assigned by you.   j) Electronic  Acceptance.  By  accepting  this  Award  electronically,  you  will  be     deemed to have acknowledged and agreed that you are bound by the terms of     this Addendum, and it shall be deemed to have been accepted by the Company.                                  28                                     

 

      k) Notification Requirement. During the period of restriction under Paragraph 3(b)        above and for a further 45 days after that period of restriction has expired, you        shall  give  notice  to  the  Company  of  each  new  business  activity  you  plan  to        undertake, at least 5 business days prior to beginning any such activity.  Such        notice shall state the name and address of the Person for whom such activity is        undertaken and the nature of your business relationship(s) and position(s) with        such  Person.   You  shall  provide  the  Company  with  such  other  pertinent        information concerning such business activity as the Company may reasonably        request  in  order  to  determine  your  continued  compliance  with  your  obligations        under this Addendum.     l) Certain Limitations        i) Nothing in this Addendum prohibits you from reporting possible violations of           United  States  federal  law  or  regulation  to  any  governmental  agency  or           regulatory authority or from making other disclosures that are protected under           the  whistleblower  provisions  of  United  States  federal  law  or  regulation.            Moreover, nothing in this Addendum requires you to notify the Company that           you have made any such report or disclosure.  However, in connection with           any such activity, you acknowledge you must take reasonable precautions to           ensure that any confidential information that is disclosed to such authority is           not  made  generally  available  to  the  public,  including  by  informing  such           authority of the confidentiality of the same.        ii) Despite  the  foregoing,  you  also  acknowledge  that  you  are  not  permitted  to           disclose  to  any  third-party,  including  any  governmental  or  regulatory           authority, any information learned in the course of your Employment that is           protected from disclosure by any applicable privilege, including but not limited           to  the  attorney-client  privilege,  attorney  work  product  doctrine,  the  bank           examiner’s  privilege,  and/or  privileges  applicable  to  information  covered  by           the  Bank  Secrecy  Act  (31  U.S.C.  §§  5311-5330),  including  information  that           would  reveal  the  existence  or  contemplated  filing  of  a  suspicious  activity           report.  Your Employer, the Company and its Subsidiaries do not waive any           applicable privileges or the right to continue to protect its and their privileged           attorney-client  information,  attorney  work  product,  and  other  privileged           information.                                    C.    AUSTRIA                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                           D.    BELGIUM                                                   ______________________________________________________________________    No country-specific provisions.                                      29                                        

 

                                                                                                            E.    BRAZIL                                        ______________________________________________________________________          1.    Compliance  with  Law.   By  accepting  the Award, you expressly  acknowledge and agree to comply with applicable Brazilian laws and to pay any and all  applicable taxes associated with the vesting of the Award, the receipt of any dividends,  and the sale of shares of Common Stock acquired under the Plan.                2.    Labor  Law  Acknowledgment.   You expressly  acknowledge and agree  that, for all legal purposes, (a) the benefits provided pursuant to the Agreement and the  Plan  are  the  result  of  commercial  transactions  unrelated  to  your  Employment;  (b)  the  Agreement and the Plan are not a part of the terms and conditions of your Employment;  and (c) the income you realize from the Award, if any, is not part of your remuneration  from Employment.            BY  ELECTRONICALLY  ACCEPTING  THE   AGREEMENT    AND  THIS  COUNTRIES  ADDENDUM,  YOU  ACKNOWLEDGE,  UNDERSTAND  AND  AGREE  TO  THE  TERMS  AND  CONDITIONS  OF  THE  PLAN,  YOUR AGREEMENT    AND  THIS COUNTRIES  ADDENDUM.                                                                         F.       CANADA  ______________________________________________________________________          1.    Settlement in Shares of Common Stock.  Notwithstanding anything to  the contrary in the Agreement, this Countries Addendum or the Plan, your Award shall  be settled only in shares of Common Stock (and may not be settled in cash).          2.    Use of English Language.  The following provision will apply if you are a  resident of Quebec:          You acknowledge and agree that it is your express wish that the Agreement, as        well  as  all  documents,  notices  and  legal  proceedings  entered  into,  given  or        instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in        English.          In French:          Vous  reconnaissez  et  consentez  que  c’est  votre  souhait  exprès  qui  cet        accord,  de  même  que  tous  documents,  toutes  notifications  et  tous        procédés  légaux  est  entré  dans,  donné  ou  instituté  conformément  ci-       annexé  ou  relatant  directement  ou  indirectement  ci-annexé,  est  formulé        dans l’anglais.                Une version française de cet Accord peut être consultée sur l’intranet.                                     30                                        

 

                                  G.       CAYMAN ISLANDS                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                                                                 H.       CHINA  ______________________________________________________________________          1.    Award Conditioned on Satisfaction of Regulatory Obligations.  If you  are a national of the Peoples’ Republic of China (“PRC”), this Award is conditioned upon  the  Company  securing  all  necessary  approvals  from  the  PRC  State  Administration  of  Foreign Exchange (“SAFE”) to permit the operation of the Plan and the participation of  PRC  nationals  employed  by  the  Company  or  a  Subsidiary,  as  determined  by  the  Company in its sole discretion.         2.    Common Stock Must Remain With Equity Administrator.  You agree  to  hold  the  shares  of Common  Stock received  upon  settlement  of this Award  with  the  Equity Administrator until the shares are sold.         3.    Exchange Control Restrictions.  You understand and agree that, if you  are  subject  to  exchange  control  laws  in  China,  you  will  be  required  immediately  to  repatriate to China the proceeds from the sale of any shares of Common Stock acquired  under  the  Plan.   You  further  understand  that  such  repatriation  of  proceeds  shall  be  effected through a special bank account established by the Company, and you hereby  consent  and  agree  that  proceeds  from  the  sale  of  shares  of Common  Stock acquired  under the Plan may be transferred to such account by the Company on your behalf prior  to being delivered to you and that no interest shall be paid with respect to funds held in  such account.  The proceeds may be paid to you in U.S. dollars or local currency at the  Company’s discretion.  If the proceeds are paid to you in U.S. dollars, you understand  that a U.S. dollar bank account in China must be established and maintained so that the  proceeds may be deposited into such account.  If the proceeds are paid to you in local  currency,  you  acknowledge  that  the  Company  is  under  no  obligation  to  secure  any  particular  exchange  conversion  rate  and  that  the  Company  may  face  delays  in  converting  the  proceeds  to  local  currency  due  to  exchange  control  restrictions.   You  agree  to  bear  any  currency  fluctuation  risk  between  the  time  the  shares  of Common  Stock are sold and the net proceeds are converted into local currency and distributed to  you.  You further agree to comply with any other requirements that may be imposed by  the  Company  in  the  future  in  order  to  facilitate  compliance  with  exchange  control  requirements in China.         4.    Sale of Shares upon Termination of Employment.  If you are a PRC  national  and  you  cease  to  be  employed  by the  Company  and  its  Subsidiaries  for  any  reason, you will be required to sell all shares of Common Stock acquired upon vesting of                                     31                                        

 

   this Award within such time frame as may be required by the SAFE or the Company (in  which case, by accepting this Award, you hereby expressly authorize the Company to  issue sales instructions on your behalf).  You agree to sign any additional agreements,  forms  and/or  consents  that  reasonably  may  be  requested  by  the  Company  (or  the  Company’s designated brokerage firm) to effectuate the sale of the shares of Common  Stock (including,  without  limitation,  as  to  the  transfer  of  the  sale  proceeds  and  other  exchange control matters noted above) and shall otherwise cooperate with the Company  with  respect  to  such  matters.   You  acknowledge that  neither  the  Company  nor  the  designated brokerage firm is under any obligation to arrange for such sale of shares of  Common Stock at any particular price (it being understood that the sale will occur in the  market) and that broker’s fees and similar expenses may be incurred in any such sale.   In any event, when the shares of Common Stock are sold, the sale proceeds, less any  withholding of  Tax-Related  Items,  any  broker’s  fees  or  commissions,  and  any  similar  expenses  of  the  sale  will  be  remitted  to  you  in  accordance  with  applicable  exchange  control laws and regulations.         5.    Administration.  The Company shall not be liable for any costs, fees, lost  interest  or  dividends  or  other  losses  you  may  incur  or  suffer  resulting  from  the  enforcement of the terms of this Countries Addendum or otherwise from the Company’s  operation  and  enforcement  of  the  Plan, the  Agreement and this Award  in  accordance  with  Chinese  law  including,  without  limitation,  any  applicable  SAFE  rules,  regulations  and requirements.                                                                      I.    DENMARK  _____________________________________________________________________  _        1.    Danish Stock Option Act. In accepting the Award, you acknowledge  and  agree  that  the  Award  may  be  subject  to  additional  terms  and  conditions,  to  the  extent the Danish Stock Option Act applies to the Award.                                                                     J.       FRANCE  ______________________________________________________________________            1.    French Language Version.  You may  obtain  a  copy  the  Agreement  in  French on the Fidelity Website.            In  French:  Une  version  française  de  cet Accord  peut  être  consultée  sur  l’intranet.                                  K.       GERMANY                                                   ______________________________________________________________________                                       32                                        

 

   Subsection (a)(ii) of Section 4 General Circumstances of Forfeiture shall not apply to an  Award subject to this Agreement.                                                                                                                                               L.       HONG KONG  ______________________________________________________________________          1.    IMPORTANT NOTICE.  WARNING: The contents of the Agreement, this  Countries Addendum, the Plan, and all other materials pertaining to this Award and/or  the  Plan  have  not  been  reviewed  by  any  regulatory  authority  in  Hong  Kong.   You  are  hereby advised to exercise caution in relation to the offer thereunder.  If you have any  doubts  about  any  of  the  contents  of  the  aforesaid  materials,  you  should  obtain  independent professional advice.          2.    Nature of the Plan.  The Company specifically intends that the Plan will  not be treated as an occupational retirement scheme for purposes of the Occupational  Retirement  Schemes  Ordinance  (“ORSO”).   To  the  extent  any  court,  tribunal  or  legal/regulatory body in Hong Kong determines that the Plan constitutes an occupational  retirement scheme for the purposes of ORSO, the grant of the Deferred Shares shall be  null and void.                3.    Settlement in Shares of Common Stock.  Notwithstanding Section 2(b)  of the Agreement, this Award shall be paid in shares of Common Stock only and does  not provide any right for you to receive a cash payment.                4.    Award  Benefits  Are  Not  Wages.   This  Award  and  the  shares  of  Common Stock underlying this Award do not form part of your wages for purposes of  calculating any statutory or contractual payments under Hong Kong Law.                5.    Notice  and  Non-Compete.   In  consideration  of  your  receipt  of  this  Award,  you  expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard to whether or not any amount has been forfeited, paid, delivered or repaid, under  this Award at any time, including the time you separate from service with your Employer,  the  Company  and  its  Subsidiaries.   It  is  a  condition  of  this  Award  that,  if  you  fail  to  comply  with  the  terms  and  conditions  below,  then  the  Company  may  in  its  absolute  discretion  determine  that  any  or  all  of  the  amounts  remaining  to  be  paid  under  this  Award should be forfeited.  All terms used herein shall have the meaning given to them in the Plan or this Award,  except as otherwise expressly provided herein.   (a)  Notice Period Upon Resignation.          (i)   In  order  to  permit  your  Employer,  the  Company  and  its  Subsidiaries  to        safeguard their business interests and goodwill in the event of your resignation        from Employment for  any  reason,  you  agree  to  give  your  Employer  advance        notice of your resignation.  The duration of the advance notice you provide (the        “Notice  Period”)  will  be  determined  by  your  title  at  the  time  you  deliver  such        notice, as follows:              (1)   If you are a member of the State Street Corporation Management              Committee, you will give 180 days’ advance notice; and                                     33                                        

 

                              (2)   If you are an Executive Vice President or higher, you will give 90             days’ advance notice.              (3)   For the avoidance of doubt, the Notice Periods set out above shall             be subject always to any contractual obligation you have to give a longer             period  of  notice  of  termination  of  your Employment (whether  such             obligation  is  contained  in  your  contract  of Employment or  any  other             agreement to which you are a party).       (ii)  During the Notice Period, you will cooperate with your Employer, as well       as  the  Company  and  its  Subsidiaries,  and  provide  them  with  any  requested       information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their       business, and/or preserving its or their client relationships.  In its sole discretion,       during  the  Notice  Period,  your  Employer  or  the  Company  may  place  you  on  a       partial or complete leave of absence and relieve you of some or all of your duties       and  responsibilities.  Except  as  provided  otherwise  in  (iii)  below,  at  all  times       during the Notice Period you shall continue to be an employee of your Employer,       shall continue to receive your regular salary and benefits and you will continue to       comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its       Subsidiaries.  However, you  will not be eligible  for any incentive compensation       awards  made  on  or  after  the  first  day  of  the  Notice  Period  or  to  accrue  any       vacation save as required by statute.         (iii) In its sole discretion, at any time during the Notice Period, the Company       or your Employer may release you from your obligations under this Section 5 by       giving immediate effect to your resignation and making a payment in lieu of any       notice due; provided that such action shall not affect your other obligation under       this Countries Addendum.    (b)  Non-Competition.       (i)   This Paragraph (b) shall apply to you at any time that you hold the title of       Executive Vice President or higher.       (ii)  During your Employment and for the 6 months following its termination for       any  reason,  you  will  not  within  the  Restricted  Territory,  directly  or  indirectly,       whether  as  owner,  director,  partner,  investor,  consultant,  agent,  employee,  co-      venturer  or  otherwise  and  whether  alone  or  in  conjunction  with  or  on  behalf of       any other person:             (1)   become  engaged,  employed,  concerned  or  interested  in  or             provide  technical,  commercial  or  professional  advice  to,  any  Person             which supplies or provides (or intends to supply or provide) Products or             Services in competition with such parts of the business of the Employer or             any Relevant Group Company with which you were materially engaged or             involved or for which you were responsible during the Relevant Period;             (2)   compete with your Employer or any Relevant Group Company, or             undertake any planning for any business competitive with the business of             your Employer or any Relevant Group Company;             (3)   engage in any manner in any activity that is directly or indirectly             competitive or potentially competitive with the business of your Employer,             or  any  Relevant  Group  Company  as  conducted  or  under  consideration             during  the  Relevant  Period  and  further  agree  not  to  work  or  provide                                    34                                       

 

                              services,  in  any  capacity,  whether  as  an  employee,  independent             contractor  or  otherwise,  whether  with  or  without  compensation,  to  any             Person  who  is  engaged  in  any  business  that  is  competitive  with  the             business  of  your  Employer  or  any  Relevant  Group  Company,  as             conducted or in planning during the Relevant Period.        (iii) The  period  of  6  months  referred  to  in Paragraph  (b)(ii)  above  will  be       reduced by one day for every day during which, at the Employer’s direction, you       are on a complete leave of absence pursuant to Paragraph (ii)  above.       (iv)  Nothing in this Paragraph 4 shall prevent your passive ownership of two       percent (2%) or less of the equity securities of any publicly traded company.       (c)   Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:         (i)   “Client” means a present or former customer or client of your Employer,       the Company or any of its Subsidiaries with whom you have had, or with whom       persons  you  have  supervised  have  had,  substantive  and  recurring  personal       contact  during  the  Relevant  Period.  A  former  customer  or  client  means  a       customer  or  client  for  which  your  Employer,  the  Company  or  any  of  its       Subsidiaries stopped providing all services within twelve months prior to the date       your Employment with your Employer ends.         (ii)  “Products  or  Services”  means  any  products  or  services  which  are  the       same as, of the same kind as, of a materially similar kind to, or competitive with,       any  products  or  services  supplied  or  provided  by  your  Employer  or  Relevant       Group  Company  and  with  which  you  were  materially  concerned  or  connected       within the Relevant Period.       (iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,       an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or       organization  (whether  conducted  on  its  own  or  as  part  of  a  wider  entity),  other       than your Employer, the Company or any of its Subsidiaries.       (iv)  “Relevant Group Company” means the Company and/or any Subsidiaries       for  which  you  have  performed  services  or  in  respect  of  which  you  have  had       operational or managerial responsibility at any time during the Relevant Period.       (v)    “Relevant Period” means the period of 24 months immediately before the       date of termination of your Employment, or (where such provision is applied) the       date of commencement of any period of complete leave of absence pursuant to       Paragraph 4(a)(ii).       (vi)  “Restricted Territory” means any area or territory:             (1)   in which you worked during the Relevant Period; and/or             (2)   in relation to which you were responsible for, or materially involved             in, the supply of Products or Services in the Relevant Period.       (vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under       common control with the Company, including direct and indirect subsidiaries.       (d)   Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with  your  Employer,  you  will  reasonably  cooperate  with  your  Employer,  the  Company  or  the  relevant  Subsidiary  with  respect  to  any  matters  arising  during  or  related  to  your Employment, including  but  not  limited  to                                    35                                       

 

                   reasonable cooperation in connection with any litigation, governmental investigation, or  regulatory or other proceeding (even if such litigation, governmental investigation, or  regulatory  or  other  proceeding  arises  following  the  date  of  this  Award  to  which this  Countries  Addendum is appended  or following  the  termination  of  your Employment).   Your  Employer,  the  Company  or  any  of  its  Subsidiaries  shall  reimburse  you  for  any  reasonable out-of-pocket and properly documented expenses you incur in connection  with such cooperation.       (e)   Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests  of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without  limitation  its  and  their  confidential  information,  trade  secrets  and  good  will,  and  are  material and integral to the undertakings of the Company under this Award to which  this  Countries  Addendum is  appended.   You further  agree  that  one  or more  of  your  Employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly,  your  Employer,  the  Company and any of its Subsidiaries shall each be entitled to preliminary or permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post  bond,  and  to  recover  its  or  their  reasonable  attorney’s  fees  and  costs  incurred  in  securing  such  relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or  they may be entitled, including the immediate forfeiture of any as-yet unvested portion  of  this Award.  You  further  agree  that,  the  periods  of  restriction contained  in this  Countries Addendum shall be tolled, and shall not run, during any period in which you  are in violation of the terms of this Countries Addendum, so that your Employer, the  Company  and  its  Subsidiaries  shall  have  the full  protection  of  the periods  agreed  to  herein.       (f)   No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.   Any  waiver  or  consent  as  to  any  of  the  provisions herein provided by your Employer, the Company or any of its Subsidiaries  must be in writing, is effective only in that instance, and may not be construed as a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.       (g)   Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law or any other agreement or understanding you may have with your Employer, the  Company  or  any  of  its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of  them,  whether  such  additional  obligations  have  been  agreed  to  in  the  past,  or  are  agreed to in the future.       (h)   Interpretation of Business Protections.  The agreements made by you  in Paragraphs 4(a) and 4(b) above shall be construed and interpreted in any judicial or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum  extent  permitted by law, and each of the provisions to this Countries Addendum is severable  and  independently  enforceable  without  reference  to  the  enforcement  of  any  other  provision.  If any restriction set forth in this Countries Addendum is found by any court  of competent jurisdiction to be unenforceable because it extends for too long a period  of time or over too great a range of activities or in too broad a geographic area, it shall  be interpreted to extend only over the maximum period of time, range of activities or  geographic area as to which it may be enforceable.                                    36                                       

 

         (i)   Assignment.  Except  as  provided  otherwise  herein, this  Countries   Addendum  shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their   respective successors and assigns, including any person or entity which acquires the   Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are   personal and may not be assigned by you.         (j)   Electronic Acceptance.  By accepting this Award electronically, you will   be deemed to have acknowledged and agreed that you are bound by the terms of this   Countries  Addendum,  and  it  shall  be  deemed  to  have  been  accepted  by  your   Employer and the Company.        (k)   Notification  Requirement.  Until  45  days  after  the  period  of  restriction   under  Paragraph  (b)  expires,  you  shall  give  notice  to  your  Employer  of  each  new   business activity you plan to undertake, at least 5 business days prior to beginning any   such activity.  Such notice shall state the name and address of the Person for whom   such  activity  is  undertaken  and  the  nature  of  your  business  relationship(s)  and   position(s)  with  such  Person.   You  shall  provide  your  Employer  with  such  other   pertinent  information  concerning  such  business  activity  as  your  Employer  or  the   Company  may  reasonably  request  in  order  to  determine  your  continued  compliance   with your obligations under this Countries Addendum.        (l)   Certain Limitations        (i)   Nothing this  Countries  Addendum prohibits  you  from  reporting  possible        violations of federal law or regulation to any governmental agency or regulatory        authority  or  from  making  other  disclosures that  are  protected  under  the        whistleblower provisions of federal law or regulation.  Moreover, nothing in this        Countries Addendum requires you to notify your Employer or the Company that        you have made any such report or disclosure.  However, in connection with any        such activity, you acknowledge you must take reasonable precautions to ensure        that any confidential information that is disclosed to such authority is not made        generally  available  to  the  public,  including  by  informing  such  authority  of  the        confidentiality of the same.        (ii)  Despite the foregoing, you also acknowledge that you are not permitted to        disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,        any information learned in the course of your Employment that is protected from        disclosure  by  any  applicable  privilege,  including but  not  limited  to  the  attorney-       client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,        and/or privileges applicable to information covered by the Bank Secrecy Act (31        U.S.C.  §§  5311-5330),  including  information that  would  reveal  the  existence  or        contemplated filing of a suspicious activity report.  Your Employer, the Company        and its Subsidiaries do not waive any applicable privileges or the right to continue        to  protect  its  and  their  privileged  attorney-client  information,  attorney  work        product, and other privileged information.                                  M.       INDIA    ____________________________________________________________________    No country-specific provisions.                                                                                                                  37                                        

 

                              N.       IRELAND  ______________________________________________________________________                                        In consideration of your receipt of this Award, you expressly agree to comply  with the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid, delivered or repaid, under this Award at any time, including the time you  separate  from  service  with  your  Employer,  the  Company  and  its  Subsidiaries.   Your  failure  to  comply  with  the  terms  and  conditions  below  may  result  in  the  sole  determination of the Company in the forfeiture of any or all of the amounts remaining to  be paid under this Award.  All  terms  and  defined  terms  used  herein  shall  have  the  meaning given  to  them  in the  Plan or this Award, except as otherwise expressly provided herein.   1.    Notice Period Upon Resignation.          (a)   In  order  to  permit  your  Employer,  the  Company  and  its  Subsidiaries  to  safeguard  their  business  interests  and  goodwill  in  the  event  of  your  resignation  from  Employment for  any  reason,  you  agree  to give  your  Employer  advance  notice  of  your  resignation.  The duration of the advance notice you provide (the “Notice Period”) will be  determined by your title at the time you deliver such notice, as follows—              (i)   If you are a member of the State Street Corporation Management              Committee, you will give 180 days’ advance written notice; and              (ii)  If you are an Executive Vice President or higher, you will give 90              days’ advance written notice.               (iii) For the avoidance of doubt, the Notice Periods set out above shall              be subject always to any contractual obligation you have to give a longer              period  of  notice  of  termination  of  your Employment (whether  such              obligation  is  contained  in  your  contract  of Employment or  any  other              agreement to which you are a party).        (b)   During the Notice Period, you will cooperate with your Employer, as well  as the Company and its Subsidiaries, and provide them with any requested information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or  preserving its or their client relationships.  In its sole discretion, during the Notice Period,  your Employer or the Company may place you on a partial or complete leave of absence  otherwise  known  as  “garden  leave”  and  relieve  you  of  some  or  all  of  your  duties  and  responsibilities and to cease attending your place of work and/or to cease contact with  the Employer’s employees and customers.  During any period of garden leave, you will  remain  subject  to  the  provisions  of  this  agreement  and  to  your  obligation  of  fidelity  to  your  Employer,  the  Company  and  its  Subsidiaries.  Except  as  provided  otherwise  in  Paragraph (d) below, at all times during the Notice Period you shall continue to be an  employee of your Employer, shall continue to receive  your regular salary and benefits  and  you  will  continue  to  comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its  Subsidiaries.  However,  you  will  not  be  eligible  for  any  incentive  compensation awards made on or after the first day of the Notice Period or, subject to  applicable law, to accrue any paid vacation time.        (c)   You agree that should you fail to provide advance written notice of your  resignation as required in this Paragraph 1, your Employer, the Company or any of its  Subsidiaries shall be entitled to seek injunctive relief restricting you from employment for                                     38                                        

 

   a  period  equal  to  the  period  for  which  notice  of resignation  was  required  but  not  provided, in addition to any other remedies available under law.         (d)   In its sole discretion, at any time during the Notice Period, the Company  or  your  Employer  may  release  you  from  your  obligations  under  this  Paragraph  1,  and  give immediate effect to your resignation and make a payment of basic salary in lieu of  any notice due; provided that such action shall not affect your other obligation under this  Countries Addendum.          2.    Non-Competition.        (a)   This Paragraph 2 shall apply to you at any time that you hold the title of  Executive  Vice  President  or  higher  with  the  Employer  and/or  the  Company  or  its  Subsidiaries.        (b)   During  your Employment and  for  the  six  months (such  period  to  be  reduced by the duration of the Notice Period as defined in Paragraph 1 above) following  its  termination  for  any  reason,  you  will  not,  directly  or  indirectly,  whether  as  owner,  partner,  investor,  consultant,  agent,  employee,  co-venturer  or  otherwise,  compete  with  your Employer, the Company or any of its Subsidiaries within the island of Ireland or the  United  Kingdom,  or  undertake  any  planning  for  any  business  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries.   Specifically,  but  without limiting the foregoing, you agree not to engage in any manner in any activity that  is  directly  or  indirectly  competitive  or  potentially  competitive  with  the  business  of  your  Employer, the Company or any of its Subsidiaries as conducted or under consideration  at any time during your Employment and further agree not to work or provide services, in  any  capacity,  whether  as  an  employee,  independent  contractor  or  otherwise,  whether  with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business  that  is  competitive with the business of your Employer, the Company or any of its Subsidiaries  for  which  you  have  provided  services,  as  conducted  or  in  planning  during  your  Employment. The foregoing, however, shall not prevent your passive ownership of two  percent (2%) or less of the equity securities of any publicly traded company.        3.    Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:          (a)   “Client” means a present or former customer or client of the Company or  any  of  its  Subsidiaries  with  whom  you  have  had,  or  with  whom  persons  you  have  supervised  have  had,  substantive  and  recurring  personal  contact  during  your  Employment with the Company or any of its Subsidiaries.  A former customer or client  means a customer or client for which the Company or any of its Subsidiaries stopped  providing all services within twelve months prior to the date your Employment with your  Employer ends.          (b)    “Person” means an individual, a corporation, a limited liability company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other than your Employer, the Company or any of its Subsidiaries.         (c)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common control with the Company, including direct and indirect subsidiaries and has the  meaning assigned to such by section 7 of the Companies Act 2014.        4.    Post-Employment  Cooperation.   You  agree  that,  following  the  termination of your Employment with the Company and its Subsidiaries, you will make  yourself  available  and  reasonably  cooperate  with  the Company  or  the  relevant                                     39                                        

 

   Subsidiary or their advisers with respect to any matters arising during or related to your  Employment, including but not limited to reasonable cooperation in connection with any  litigation,  governmental  investigation,  or  regulatory or  other  proceeding  (even  if  such  litigation, governmental investigation, or regulatory or other proceeding arises following  the date of this Award to which this Countries Addendum is appended or following the  termination  of  your Employment).   The  Company or  any  of  its  Subsidiaries  shall  reimburse you for any reasonable out-of-pocket and properly documented expenses you  incur in connection with such cooperation provided that such expenses are approved in  advance by the Company or Employer.        5.    Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests of your Employer, the Company and its Subsidiaries, including without limitation  its and their Confidential Information, trade secrets and good will, and are material and  integral  to the  undertakings  of the  Company  under  this  Award  to  which this  Countries  Addendum is  appended.   You  further  agree  that  one  or  more  of  your  Employer,  the  Company and its Subsidiaries will be irreparably harmed in the event you do not perform  such provisions in accordance with their specific terms or otherwise breach the promises  made  herein.   Accordingly,  your  Employer,  the  Company  and  any  of  its  Subsidiaries  shall each be entitled to preliminary or permanent injunctive or other equitable relief or  remedy  without  the  need  to  post  bond,  and  to  recover  its  or  their  reasonable  attorney’s/legal fees and costs incurred in securing such relief, in addition to, and not in  lieu of, any other relief or remedy at law to which it or they may be entitled, including the  immediate forfeiture of any as-yet unvested portion of the Award.  You further agree that,  the periods of restriction contained in this Countries Addendum shall be tolled, and shall  not  run,  during  any  period  in  which  you  are  in  violation  of  the  terms  of this  Countries  Addendum, so that your Employer, the Company and its Subsidiaries shall have the full  protection of the periods agreed to herein.        6.    No  Waiver.   No  delay  by  your  Employer, the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the  provisions  herein  provided  by  your  Employer,  the  Company  or any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance,  and  may  not  be  construed  as  a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.        7.    Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law  or  any  other  agreement  or  understanding  you  may  have  with  your  Employer,  the  Company or any of its Subsidiaries or pursuant to the applicable policies of any of them,  whether such additional obligations have been agreed to in the past, or are agreed to in  the future.        8.    Interpretation of Business Protections.  The agreements made by you  in Paragraphs 1 and 2 above shall be construed and interpreted in any judicial or other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by  law,  and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently enforceable without reference to the enforcement of any other provision.   If any restriction set forth in this Countries Addendum is found by any court of competent  jurisdiction to be unenforceable because it extends for too long a period of time or over  too great a range of activities or in too broad a geographic area, it shall be interpreted to  extend only over the maximum period of time, range of activities or geographic area as                                     40                                        

 

   to which it may be enforceable.        9.    Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors  and  assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal and may not be assigned by you.         10.   Electronic Acceptance.  By accepting this Award electronically, you will  be deemed to have acknowledged and agreed that you are bound by the terms of this  Countries Addendum, and it shall be deemed to have been accepted by the Company.        11.   Notification  Requirement.  Until  45  days  after  the  period  of  restriction  under Paragraph 2 expires, you shall give notice to the Company of each new business  activity  you  plan  to  undertake,  at  least  5  business  days  prior  to  beginning  any  such  activity.   Such  notice  shall  state  the  name  and  address  of  the  Person  for  whom  such  activity is undertaken and the nature of your business relationship(s) and position(s) with  such  Person.   You  shall  provide  the  Company  with  such  other  pertinent  information  concerning such business activity as the Company may reasonably request in order to  determine  your  continued  compliance  with  your  obligations  under this  Countries  Addendum.        12.   Certain Limitations.  Nothing in this Countries Addendum prohibits you  from  reporting  possible  violations  of  law  or  regulation  to  any  governmental  agency  or  regulatory authority or from making other relevant disclosures that are protected under  the  whistleblower  provisions  of  federal  law  or  regulation.   Moreover,  nothing  in  this  Countries Addendum requires you to notify the Company that you have made any such  report or disclosure.  However, in connection with any such activity, you acknowledge  you must take reasonable precautions to ensure that any confidential information that is  disclosed  to  such  authority  is  not  made  generally  available  to  the  public,  including  by  informing such authority of the confidentiality of the same.                                                                     O.       ITALY                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                                                                 P.       JAPAN                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                          Q.       JERSEY                                                                                      41                                        

 

   ______________________________________________________________________    No country-specific provisions.                                                                                                       R.       LUXEMBOURG  ______________________________________________________________________  In consideration of your receipt of this Award, you expressly agree to comply  with the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited, paid, delivered or repaid, under this Award at any time, including the time you  separate  from  service  with  your  Employer,  the  Company  and  its  Subsidiaries.  Your  failure  to  comply  with  the  terms  and  conditions  below  may  result  in  the  sole  determination of the Company in the forfeiture of any or all of the amounts remaining to  be paid under this Award.  All terms used herein shall have the meaning given to them in the Plan or this Award,  except as otherwise expressly provided herein.   1.    Notice Period Upon Resignation.          (a)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their  business interests and goodwill in the event of your resignation from Employment for any  reason, if you hold the title Executive Vice President or higher you are required to give  your Employer advance notice of your resignation as per the legal provisions.         (b)   During the Notice Period, you will cooperate with your employer, as well  as the Company and its Subsidiaries, and provide them with any requested information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their  business,  and/or  preserving its or their client relationships.  In its sole discretion, during the Notice Period,  your Employer or the Company may place you on a partial or complete leave of absence  and relieve you of some or all of your duties and responsibilities.  Except as provided  otherwise  in Paragraph (d)  below,  at  all  times  during  the  Notice  Period  you  shall  continue  to  be  an  employee  of  your  Employer,  shall  continue  to  receive  your  regular  salary and benefits and you will continue to comply with the applicable policies of your  Employer, the Company, and its Subsidiaries.  However, you will not be eligible for any  incentive compensation awards made on or after the first day of the Notice Period.         (c)   You  agree  that  should  you  fail  to  provide  advance  notice  of  your  resignation as required in this Paragraph 1, your Employer, the Company or any of its  Subsidiaries  shall  be  entitled  to  a  compensatory  payment  in  addition  to  any  other  remedies available under law.         (d)   At any time during the Notice Period and upon your request formulated in  writing, the Company or your Employer may release you from your obligations under this  Section 1, and give immediate effect to your resignation; provided that such action shall  not affect your other obligations under this Countries Addendum.          2.    Non-Competition.        (a)   This Paragraph 2 shall apply to you at any time that you hold the title of  Executive Vice President or higher.        (b)   During  your Employment you  will  not,  directly  or  indirectly,  whether  as  owner, partner, investor, consultant, agent, co-venturer or otherwise, compete with your  Employer, the Company or any of its Subsidiaries in any geographic area in which it or                                     42                                        

 

   they  do  business,  or  undertake  any  planning  for  any  business  competitive  with  the  business  of  your  Employer,  the  Company  or  any  of  its  Subsidiaries.   Specifically,  but  without limiting the foregoing, you agree not to engage in any manner in any activity that  is  directly  or  indirectly  competitive  or  potentially  competitive with  the  business  of  your  Employer, the Company or any of its Subsidiaries as conducted or under consideration  at any time during your Employment and further agree not to work or provide services, in  any  capacity,  whether  as  an  employee,  independent  contractor  or  otherwise,  whether  with  or  without  compensation,  to  any  Person  who  is  engaged  in  any  business  that  is  competitive with the business of your Employer, the Company or any of its Subsidiaries  for  which  you  have  provided  services,  as  conducted  or  in  planning  during  your  Employment. The foregoing, however, shall not prevent your passive ownership of two  percent (2%) or less of the equity securities of any publicly traded company.        (c)   For  the  12  months  after  you  leave  the  company,  whatever  the  reason,  you  will  not,  directly  or  indirectly,  as  a  self-employed  person  whether  as  owner,   co- venturer  or  otherwise,  compete  with  your  Employer,  the  Company  or  any  of  its  Subsidiaries in any geographic area in which it or they do business, or undertake any  planning for any business competitive with the business of your Employer, the Company  or  any  of  its  Subsidiaries,  this  area  being  in  any  case  limited  to  the  Grand-Duchy  of  Luxembourg.  Specifically, but without limiting the foregoing, you agree not to engage in  any  manner  as  a  self-employed  person  in  any  activity  that  is  directly  or  indirectly  competitive or potentially competitive with the business of your Employer, the Company  or any of its Subsidiaries as conducted or under consideration at any time during your  Employment.  The foregoing, however, shall not prevent your passive ownership of two  percent (2%) or less of the equity securities of any publicly traded company.        3.    Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:          (a)   “Client” means a present or former customer or client of the Company or  any  of  its  Subsidiaries  with  whom  you  have  had,  or  with  whom  persons  you  have  supervised  have  had,  substantive  and  recurring  personal  contact  during  your  Employment with the Company or any of its Subsidiaries.  A former customer or client  means a customer or client for which the Company or any of its Subsidiaries stopped  providing all services within twelve months prior to the date your Employment with your  Employer ends.          (b)   “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,  an  association,  a  partnership,  an  estate,  a  trust  and  any  other  entity  or  organization,  other than your Employer, the Company or any of its Subsidiaries.        (c)   “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under  common control with the Company, including direct and indirect subsidiaries.        4.    Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with  the  Company  and  its  Subsidiaries,  you  will  reasonably cooperate with the Company or the relevant Subsidiary with respect to any  matters  arising  during  or  related  to  your Employment,  including  but  not  limited  to  reasonable cooperation in connection with any litigation, governmental investigation, or  regulatory  or  other  proceeding  (even  if  such  litigation,  governmental  investigation,  or  regulatory  or  other  proceeding  arises  following  the  date  of  this  Award  to  which this  Countries  Addendum is  appended  or  following  the  termination  of  your Employment).   The Company or any of its Subsidiaries shall reimburse you for any reasonable out-of- pocket  and  properly  documented  expenses  you  incur  in  connection  with  such                                     43                                        

 

   cooperation.        5.    Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests of your Employer, the Company and its Subsidiaries, including without limitation  its and their confidential information, trade secrets and good will, and are material and  integral  to the  undertakings  of the  Company  under  this  Award  to  which this  Countries  Addendum is  appended.   You  further  agree  that  one  or  more  of  your Employer,  the  Company and its Subsidiaries will be irreparably harmed in the event you do not perform  such provisions in accordance with their specific terms or otherwise breach the promises  made  herein.   Accordingly,  your  Employer,  the  Company  and  any  of  its  Subsidiaries  shall each be entitled to preliminary or permanent injunctive or other equitable relief or  remedy without the need to post bond, and to recover its or their reasonable attorney’s  fees and costs incurred in securing such relief, in addition to, and not in lieu of, any other  relief  or  remedy  at  law  to  which  it  or  they  may  be  entitled,  including  the  immediate  forfeiture of any as-yet unvested portion of the Award.         6.    No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the  provisions  herein  provided  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries  must  be  in  writing,  is  effective  only  in  that  instance,  and  may  not  be  construed  as  a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.        7.    Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law  or  any  other  agreement  or  understanding  you may  have  with  your  Employer,  the  Company or any of its Subsidiaries or pursuant to the applicable policies of any of them,  whether such additional obligations have been agreed to in the past, or are agreed to in  the future.        8.    Interpretation of Business Protections.  The agreements made by you  in Paragraphs 1 and 2 above shall be construed and interpreted in any judicial or other  adjudicatory proceeding to permit their enforcement to the maximum extent permitted by  law,  and  each  of  the  provisions  to this  Countries  Addendum is  severable  and  independently enforceable without reference to the enforcement of any other provision.   If any restriction set forth in this Countries Addendum is found by any court of competent  jurisdiction to be unenforceable because it extends for too long a period of time or over  too great a range of activities or in too broad a geographic area, it shall be interpreted to  extend only over the maximum period of time, range of activities or geographic area as  to which it may be enforceable.        9.    Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective  successors  and assigns,  including  any  person  or  entity  which  acquires  the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal and may not be assigned by you.         10.   Electronic Acceptance.  By accepting this Award electronically, you will  be deemed to have acknowledged and agreed that you are bound by the terms of this  Countries Addendum, and it shall be deemed to have been accepted by the Company.        11.   Notification  Requirement.  Until  45  days  after  the  period  of  restriction                                     44                                        

 

   under Paragraph 2 expires, you shall give notice to the Company of each new business  activity  you  plan  to  undertake,  at  least  5  business  days  prior  to  beginning  any  such  activity.   Such  notice  shall  state  the  name  and  address  of  the  Person  for  whom  such  activity is undertaken and the nature of your business relationship(s) and position(s) with  such  Person.   You  shall  provide  the  Company  with  such  other  pertinent  information  concerning such business activity as the Company may reasonably request in order to  determine  your  continued  compliance  with  your  obligations  under this  Countries  Addendum.        12.   Certain Limitations        (a)   Nothing this  Countries  Addendum prohibits  you  from  reporting  possible  violations of federal law or regulation to any governmental agency or regulatory authority  or from making other disclosures that are protected under the whistleblower provisions  of federal law or regulation.  Moreover, nothing in this Countries Addendum requires you  to notify the Company that you have made any such report or disclosure.  However, in  connection  with  any  such  activity,  you  acknowledge  you  must  take  reasonable  precautions to ensure that any confidential information that is disclosed to such authority  is not made generally available to the public, including by informing such authority of the  confidentiality of the same.        (b)   Despite the foregoing, you also acknowledge that you are not permitted to  disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,  any  information learned in the course of your Employment that is protected from disclosure  by  any  applicable  privilege,  including  but  not  limited  to  the  attorney-client  privilege,  attorney  work  product  doctrine,  and/or  privileges  applicable  to  information  covered  by  the bank secrecy (Article 41 of the Law on the financial sector dated April 5, 1993, as  amended), including information that would reveal the existence or contemplated filing of  a suspicious activity report.  Your Employer, the Company and its Subsidiaries do not  waive any applicable privileges or the right to continue to protect its and their privileged  attorney-client information, attorney work product, and other privileged information.                                  S.      NETHERLANDS  ______________________________________________________________________          1.    Waiver of Termination Rights.  As a condition to the grant of this Award,  you  hereby  waive  any  and  all  rights  to  compensation  or  damages  as  a  result  of  the  termination  of Employment with  the  Company  and  the  Subsidiary  that  employs  you  in  the Netherlands for any reason whatsoever, insofar as those rights result or may result  from (a) the loss or diminution in value of such rights or entitlements under the Plan, or  (b) your ceasing to have rights under, or ceasing to be entitled to any awards under the  Plan as a result of such termination.                                                                       T.       NORWAY                                                   ______________________________________________________________________                                       45                                        

 

   No country-specific provisions.                                                                                                          U.       POLAND                                                   ______________________________________________________________________      Kopię tej Umowy w języku polskim może Pan/Pani otrzymać wchodząc na Stronę.                                                                                                                                              V.       SINGAPORE  ______________________________________________________________________          1.    Qualifying  Person  Exemption.  The  following  provision  shall  replace  Section 16(h) of the Agreement:     The grant of the Award under the Plan is being made pursuant to the “Qualifying Person”  exemption” under section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006  Ed.)  (“SFA”).   The  Plan  has  not  been and  will  not  be lodged  or  registered  as  a  prospectus  with  the  Monetary  Authority  of  Singapore and  is  not  regulated  by  any  financial  supervisory  authority  pursuant  to  any  legislation  in  Singapore.   Accordingly,  statutory liability under the SFA in relation to the content of prospectuses shall not apply.   You should note that, as a result, the Award is subject to section 257 of the SFA and you  will not be able to make                 (i)   any subsequent sale of shares of Common Stock in Singapore or               (ii)  any  offer  of  such  subsequent  sale  of  shares  of  Common  Stock              subject  to  the  Award in  Singapore,  unless  such  sale  or  offer  is  made              pursuant  to  the  exemptions  under  Part  XIII  Division  (1)  Subdivision  (4)              (other than section 280) of the SFA (Chapter 289, 2006 Ed.).                                     W.    SOUTH AFRICA                                                    ______________________________________________________________________    No country-specific provisions.                                                                                                         X.    SWITZERLAND  ______________________________________________________________________                                                                              Securities Law Notice. The offer of the Award is not intended to be publicly offered in  Switzerland.  Because  the  offer  of  the  Award  is  considered  a  private offering,  it  is  not                                     46                                        

 

   subject  to  registration  in  Switzerland.  Neither  this  document  nor  any other  materials  relating to the Award constitutes a prospectus as such term is understood pursuant to  article 652a of the Swiss Code of Obligations, and neither this document nor any other  materials relating to the Award may be publicly distributed nor otherwise made publicly  available  in  Switzerland.  Neither  this  document  nor  any  other offering  or  marketing  material relating to the Award have been or will be filed with, approved or supervised by  any  Swiss  regulatory  authority  (in  particular,  the  Swiss Financial  Market  Supervisory  Authority (“FINMA”).                                                                           Y. TAIWAN                                                   ______________________________________________________________________    No country-specific provisions.                                                                                                                         Z.   UNITED ARAB EMIRATES   ______________________________________________________________________                                                   Securities Law Notice. This document may not be distributed in the Kingdom except to  such persons as are permitted under the Rules on the Offer of Securities and Continuing  Obligations issued by the Capital Market Authority. The Capital Market Authority does  not make any representation as to the accuracy or completeness of this document, and  expressly disclaims any liability whatsoever for any loss arising from, or incurred in  reliance upon, any part of this document. Prospective recipients of the securities offered  hereby should conduct their own due diligence on the accuracy of the information  relating to the securities. If you do not understand the contents of this document, you  should consult an authorized financial adviser.                                                                                                                                                                          AA.  UNITED KINGDOM  ______________________________________________________________________          1.    Income Tax and Social Insurance Contribution Withholding.  Without  limitation  to Section 11 of the  Agreement,  you  hereby  agree that  you  are  liable  for  all  Tax-Related Items and hereby consent to pay all such Tax-Related Items, as and when  requested  by  the  Company  and  or  your  Employer  (if  different)  or  by  HM  Revenue  &  Customs (“HMRC”) (or any other tax authority or any other relevant authority).  You also  hereby  agree  to  indemnify  and  keep  indemnified  the  Company  and  your  Employer  (if  different)  against  any  Tax-Related  Items  that  they  are  required  to  pay  or  withhold  on  your behalf or have paid or will pay to HMRC (or any other tax authority or any other  relevant  authority).  Notwithstanding  the  foregoing,  if  you  are  a  director  or  executive  officer of the Company (within the meaning of Section 13(k) of the Exchange Act), you  understand that you may not be able to indemnify the Company for the amount of any  income tax not collected from or paid by you within ninety (90) days of the end of the                                     47                                        

 

   U.K. tax year in which the event giving rise to the Tax-Related Items occurs as it may be  considered  to  be  a  loan  and  therefore,  it  may  constitute  a  benefit  to  you  on  which  additional  income  tax  and National  Insurance  contributions  (“NICs”)  may  be  payable.  You understand that you will be responsible for reporting and paying any income tax due  on  this  additional  benefit  directly  to  HMRC  under  the  self-assessment  regime  and  for  paying to the Company and/or your Employer (as appropriate) the amount of any NICs  due  on  this  additional  benefit,  which  may  also  be  recovered  from  you  by  any  of  the  means referred to in Section 11 of the Agreement.      2.    Exclusion  of  Claim.  You  acknowledge  and  agree  that  you  will  have  no  entitlement to compensation or damages insofar as such entitlement arises or may arise  from your ceasing to have rights under or to be entitled to the Deferred Shares, whether  or not as a result of such termination, (whether such termination is in breach of contract  or otherwise), or from the loss or diminution in value of the Deferred Shares.  Upon the  grant  of  your  Award,  you  shall  be  deemed  irrevocably  to  have  waived  any  such  entitlement.    3.    Notice  and  Non-Compete. In  consideration  of  your  receipt  of  this  Award,  you  expressly  agree  to  comply  with  the  terms  and  conditions  below  without  regard  to  whether  or  not  any  amount  has  been  forfeited,  paid,  delivered  or  repaid,  under  this  Award at any time, including the time you separate from service with your Employer, the  Company and its Subsidiaries.  It is a condition of this Award that, if you fail to comply  with the terms and conditions below, then the Company may in its absolute discretion  determine that any or all of the amounts remaining to be paid under this Award should  be forfeited.  All terms used herein shall have the meaning given to them in the Plan or the Award,  except as otherwise expressly provided herein.        (a)   Notice Period Upon Resignation.          (i)   In  order  to  permit  the  Company  and  its  Subsidiaries  to  safeguard  their        business interests and goodwill in the event of your resignation from Employment        for  any  reason,  you  agree  to  give  your  Employer  advance  notice  of  your        resignation. The duration of the advance notice you provide (the “Notice Period”)        will be determined by your title at the time you deliver such notice, as follows:              (1)   If you are a member of the State Street Corporation Management              Committee, you will give 180 days’ advance notice; and              (2)   If you are an Executive Vice President or higher, you will give 90              days’ advance notice.              For  the  avoidance  of  doubt,  the  Notice  Periods  set  out  above  shall  be              subject  always  to  any  contractual  obligation  you  have  to  give  a  longer              period  of  notice  of  termination  of  your Employment (whether  such              obligation  is  contained  in  your  contract  of Employment or  any  other              agreement to which you are a party).        (ii)  During the Notice Period, you will cooperate with your Employer, as well        as  the  Company  and  its  Subsidiaries,  and  provide  them  with  any  requested        information  to  assist  with  transitioning  your  duties,  accomplishing  its  or  their        business, and/or preserving its or their client relationships. In its sole discretion,                                     48                                        

 

                   during  the  Notice  Period,  your  Employer  or  the  Company  may  place  you  on  a  partial or complete leave of absence and relieve you of some or all of your duties  and  responsibilities.  Except  as  provided  otherwise  in  (iii)  below,  at  all  times  during the Notice Period you shall continue to be an employee of your Employer,  shall continue to receive your regular salary and benefits  and you will continue to  comply  with  the  applicable  policies  of  your  Employer,  the  Company,  and  its  Subsidiaries.  However, you  will not be eligible  for any incentive compensation  awards  made  on  or  after  the  first  day  of  the  Notice  Period  or  to  accrue  any  vacation save as required by statute.  (iii) In its sole discretion, at any time during the Notice Period, the Company  or your Employer may release you from your obligations under this Paragraph (a)  by  giving  immediate  effect  to  your  resignation  and  making  a  payment  of  basic  salary  in  lieu  of  any  notice  due;  provided  that  such  action  shall  not  affect  your  other obligations under this Countries Addendum.    (b)   Non-Competition.  (i)   This Paragraph (b) shall apply to you at any time that you hold the title of  Executive  Vice  President  or  higher and  following  the  termination  of  your  Employment  where  you  held  the  title  of  Executive  Vice  President  or  higher  immediately prior to such termination.  (ii)  During your Employment and for the 12 months following its termination  for any reason, you will not within the Restricted Territory, directly or indirectly,  whether  as  owner,  director,  partner,  investor,  consultant,  agent, employee,  co- venturer  or  otherwise  and  whether  alone  or  in  conjunction  with  or  on  behalf of  any other person:        (1)   become  engaged,  employed,  concerned  or  interested  in  or        provide  technical,  commercial  or  professional  advice  to,  any  Person        which supplies or provides (or intends to supply or provide) Products or        Services in competition with such parts of the business of the Employer or        any Relevant Group Company with which you were materially engaged or        involved or for which you were responsible during the Relevant Period;        (2)   compete with your Employer or any Relevant Group Company, or        undertake any planning for any business competitive with the business of        your Employer or any Relevant Group Company;        (3)   engage in any manner in any activity that is directly or indirectly        competitive or potentially competitive with the business of your Employer,        or  any  Relevant  Group  Company  as  conducted  or  under  consideration        during  the  Relevant  Period  and  further  agree  not  to  work  or  provide        services,  in  any  capacity,  whether  as  an  employee,  independent        contractor  or  otherwise,  whether  with  or  without  compensation,  to  any        Person  who  is  engaged  in  any  business  that  is  competitive  with  the        business  of  your  Employer  or  any  Relevant  Group  Company,  as        conducted or in planning during the Relevant Period.   (iii) The  period  of  12  months  referred  to  in  Paragraph  (b)(ii)  above  will  be  reduced by one day for every day during which, at the Employer’s direction, you  are on a complete leave of absence pursuant to Paragraph 3(a)(ii) above.                                49                                  

 

                        (iv)  Nothing in this Paragraph (b) shall prevent your ownership for investment       purposes only of shares or other securities of two percent (2%) or less of the total       issued capital of any company whether or not its securities are publicly traded.       (c)   Definitions.  For the purpose of this Countries Addendum, the following  terms are defined as follows:         (i)   “Client”  means  a  customer  or  client  of  the  Company  or  any  of  its       Subsidiaries  with  whom  you  have  had, or  with  whom  persons  you  have       supervised  have  had,  substantive  and  recurring  personal  contact  during  the       Relevant Period.         (ii)  “Products or Services” means any products or services which are of the       same kind as, of a materially similar kind to, or competitive with, any products or       services supplied or provided by your Employer or Relevant Group Company and       with  which  you  were  materially  concerned  or  connected  within  the  Relevant       Period.       (iii) “Person”  means  an  individual,  a  corporation,  a  limited  liability  company,       an association, a partnership, a limited liability partnership, an estate, a trust and       any  other  entity  or  organization  (whether  conducted  on  its  own  or  as  part  of  a       wider entity), other than your Employer, the Company or any of its Subsidiaries.       (iv)  “Relevant Group Company” means the Company and/or any Subsidiaries       for  which  you  have  performed  services  or  in  respect  of  which  you  have  had       operational or managerial responsibility at any time during the Relevant Period.       (v)    “Relevant Period” means the period of 24 months immediately before the       date of termination of your Employment, or (where such provision is applied) the       date of commencement of any period of complete leave of absence pursuant to       Paragraph 3(a)(ii).       (vi)  “Restricted Territory” means any area or territory:             (1)   in which you worked during the Relevant Period; and/or             (2)   in relation to which you were responsible for, or materially involved             in, the supply of Products or Services in the Relevant Period.       (vii) “Subsidiaries”  means  any  entity  controlling,  controlled  by  or  under       common control with the Company, including direct and indirect subsidiaries.       (d)   Post-Employment  Cooperation.   You  agree  that,  following  the  termination  of  your Employment with  the  Company  and  its  Subsidiaries,  you  will  reasonably cooperate with the Company or the relevant Subsidiary with respect to any  matters  arising  during  or  related  to  your Employment,  including  but  not  limited  to  reasonable cooperation in connection with any litigation, governmental investigation, or  regulatory or other proceeding (even if such litigation, governmental investigation, or  regulatory  or  other  proceeding  arises  following  the  date  of  this  Award  to  which this  Countries  Addendum is appended  or following  the  termination  of  your Employment).   The Company or any of its Subsidiaries shall reimburse you for any reasonable out-of- pocket  and  properly  documented  expenses  you  incur  in  connection  with  such  cooperation.       (e)   Enforcement.  You acknowledge and agree that the promises contained  in this Countries Addendum are necessary to the protection of the legitimate business  interests  of  your  Employer,  the  Company  and  its  Subsidiaries,  including  without                                    50                                       

 

                   limitation  its  and  their  confidential  information,  trade  secrets  and  goodwill,  and  are  material and integral to the undertakings of the Company under this Award to which  this  Countries  Addendum is  appended.   You further  agree  that  one  or more  of  your  employer,  the  Company  and  its  Subsidiaries  will  be  irreparably  harmed  in  the  event  you  do  not  perform  such  provisions  in  accordance  with  their  specific  terms  or  otherwise  breach  the  promises  made  herein.   Accordingly,  your  Employer,  the  Company and any of its Subsidiaries shall each be entitled to preliminary or permanent  injunctive  or  other  equitable  relief  or  remedy  without  the  need  to  post  bond,  and  to  recover  its  or  their  reasonable  attorney’s  fees  and  costs  incurred  in  securing  such  relief, in addition to, and not in lieu of, any other relief or remedy at law to which it or  they may be entitled, including the immediate forfeiture of any as-yet unvested portion  of  the  Award.  You  further  agree  that,  the  periods  of  restriction  contained  in this  Countries Addendum shall be tolled, and shall not run, during any period in which you  are in violation of the terms of this Countries Addendum, so that your Employer, the  Company  and  its  Subsidiaries  shall  have  the full  protection  of  the  periods  agreed  to  herein.       (f)   No  Waiver.   No  delay  by  your  Employer,  the  Company  or  any  of  its  Subsidiaries in exercising any right under this Countries Addendum shall operate as a  waiver  of  that  right  or  of  any  other  right.  Any  waiver  or  consent  as  to  any  of  the  provisions herein provided by your Employer, the Company or any of its Subsidiaries  must be in writing, is effective only in that instance, and may not be construed as a  broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any  other occasion.       (g)   Relationship to Other Agreements.  This Addendum supplements and  does not limit, amend or replace any other obligations you may have under applicable  law or any other agreement or understanding you may have with your Employer, the  Company  or  any  of  its  Subsidiaries  or  pursuant  to  the  applicable  policies  of  any  of  them,  whether  such  additional  obligations  have  been  agreed  to  in  the  past,  or  are  agreed to in the future.       (h)   Interpretation of Business Protections.  The agreements made by you  in Paragraphs (a) and (b) above shall be construed and interpreted in any judicial or  other  adjudicatory  proceeding  to  permit  their  enforcement  to  the  maximum  extent  permitted by law, and each of the provisions to this Countries Addendum is severable  and  independently  enforceable  without  reference  to  the  enforcement  of  any  other  provision.  If any restriction set forth in this Countries Addendum is found by any court  of competent jurisdiction to be unenforceable because it extends for too long a period  of time or over too great a range of activities or in too broad a geographic area, it shall  be interpreted to extend only over the maximum period of time, range of activities or  geographic area as to which it may be enforceable.       (i)   Assignment.  Except  as  provided  otherwise  herein, this  Countries  Addendum  shall  be  binding  upon  and  inure  to  the  benefit  of  both  parties  and  their  respective successors and assigns, including any person or entity which acquires the  Company  or  its  assets  or  business;  provided,  however,  that  your  obligations  are  personal and may not be assigned by you.        (j)   Electronic Acceptance.  By accepting this Award electronically, you will  be deemed to have acknowledged and agreed that you are bound by the terms of this  Countries Addendum, and it shall be deemed to have been accepted by the Company.                                     51                                       

 

              (k)        Notification Requirement.  Until 45 days after the period of restriction  under this Paragraph 3 (b) expires, you shall give notice to the Company of each new  business activity you plan to undertake, at least 5 business days prior to beginning any  such activity.  Such notice shall state the name and address of the Person for whom  such activity is undertaken and the nature of your business relationship(s) and  position(s) with such Person.  You shall provide the Company with such other pertinent  information concerning such business activity as the Company may reasonably request  in order to determine your continued compliance with your obligations under this  Countries Addendum.        (l)   Certain Limitations        (i)   Nothing this  Countries  Addendum prohibits  you  from  reporting  possible        violations of law or regulation to any governmental agency or regulatory authority        or  from  making  other  disclosures  that  are  protected  under  the  whistleblower        provisions of law or regulation.  Moreover, nothing in this Countries Addendum        requires  you  to  notify  the  Company  that  you  have  made  any  such  report  or        disclosure.  However, in connection with any such activity, you acknowledge you        must take reasonable precautions to ensure that any confidential information that        is  disclosed  to  such  authority  is  not  made  generally  available  to  the  public,        including by informing such authority of the confidentiality of the same.        (ii)  Despite the foregoing, you also acknowledge that you are not permitted to        disclose  to  any  third-party,  including  any  governmental  or  regulatory  authority,        any information learned in the course of your Employment that is protected from        disclosure  by  any  applicable  privilege,  including but  not  limited  to  the  attorney-       client  privilege,  attorney  work  product  doctrine,  the  bank  examiner’s  privilege,        and/or privileges applicable to information covered by the Bank Secrecy Act (31        U.S.C.  §§  5311-5330),  including  information that  would  reveal  the  existence  or        contemplated filing of a suspicious activity report.  Your Employer, the Company        and its Subsidiaries do not waive any applicable privileges or the right to continue        to  protect  its  and  their  privileged  attorney-client  information,  attorney  work        product, and other privileged information.                               *          *          *         *         *                                                                                                    52                                        

 

                                                                    OFFER DOCUMENT                                                                                                                                                                                                                     STATE STREET CORPORATION                         2017 STOCK INCENTIVE PLAN                                                                                                                                                                                 OFFER OF DEFERRED STOCK TO                                 AUSTRALIAN                            RESIDENT EMPLOYEES                                                                                                                                                                                GRANT DATE: [______________]                                                                                                                    INVESTMENT  IN  SHARES  INVOLVES  A  DEGREE  OF RISK.   EMPLOYEES  WHO  ELECT   TO   PARTICIPATE   IN   THE   PLAN   SHOULD    MONITOR    THEIR  PARTICIPATION  AND  CONSIDER  ALL  RISK  FACTORS  RELEVANT  TO  THE  PURCHASE OF COMMON STOCK UNDER THE PLAN AS SET OUT IN THIS OFFER  DOCUMENT  AND  THE  ADDITIONAL DOCUMENTS.   ANY  ADVICE CONTAINED IN  THIS  OFFER  DOCUMENT   IN  RELATION  TO  THE  DEFERRED  STOCK  BEING  OFFERED  UNDER  THE  PLAN  DOES  NOT  TAKE  INTO  ACCOUNT  THE  OBJECTIVES,  FINANCIAL  SITUATION  AND  NEEDS  OF  ANY       INDIVIDUAL  EMPLOYEE.   EMPLOYEES      SHOULD  CONSIDER  OBTAINING  THEIR      OWN  FINANCIAL PRODUCT ADVICE FROM AN INDEPENDENT PERSON LICENSED BY  THE  AUSTRALIAN  SECURITIES  AND  INVESTMENTS  COMMISSION  TO  GIVE  ADVICE ABOUT PARTICIPATING IN THE PLAN.                                                     53                                        

 

                                  OFFER OF                            DEFERRED STOCK TO                      AUSTRALIAN RESIDENT EMPLOYEES                                                             STATE STREET CORPORATION                        2017 STOCK INCENTIVE PLAN                                        We  are  pleased  to  provide  you  with  this  offer  to  participate  in  the  State  Street  Corporation 2017 Stock Incentive Plan (and any sub-plan established thereunder) (U.S.  Plan) as supplemented for implementation in Australia by the Australian Addendum to  the State Street Corporation 2017 Stock Incentive Plan (Australian Addendum).  The  U.S. Plan as supplemented by the Australian Addendum is hereinafter referenced as the  “Plan.”   This Offer Document sets out information about grants of Deferred Stock (referenced as  “Restricted Common  Stock Units”  in  the  U.S.  Plan)  (Awards)  under  the  Plan  and  the  Deferred Stock Award  Agreement  (Agreement)  to  Australian  resident  employees  of  subsidiaries of State Street Corporation (Company).  The purpose of the U.S. Plan is to  advance  the  interests  of  the  Company  by  providing  for  the  grant  of Common  Stock- based Awards.    Terms defined in the U.S. Plan and the Australian Addendum have the same meaning in  this Offer Document.    1.      OFFER   This is an Offer of Deferred Stock, as may be granted from time to time in accordance  with the Plan by the Company to selected eligible employees of Australian Affiliates.    The grant of Deferred Stock under the Plan is intended to comply with the provisions of  the  Australian  Corporations  Act  2001  (Cth)  (Corporations  Act  2001),  Australian  Securities  and  Investment  Commission  (ASIC)  Regulatory  Guide  49  and  ASIC  Class  Order 14/1000.          2.      TERMS OF GRANT   The terms of your Award incorporate the rules of the Plan, this Offer Document and your  Agreement.   By  accepting  your  Award,  you  will  be  bound  by  the  rules  of  this  Offer  Document, the Plan and your Agreement.    3.      ADDITIONAL DOCUMENTS   In  addition  to  the  information set  out  in  this  Offer  Document,  the  following  attached  documents  provide  further  information  necessary  to  make  an  informed  decision  about  participating in the Plan:          (a)       The U.S. Plan and related U.S. prospectus;          (b)       the Agreement and the Countries Addendum;         (c)       the Australian Addendum; and                                     54  

 

         (d)       the Employee Information Supplement.          (collectively Additional Documents).    The U.S. Plan document sets out, among other details, the nature of your Award and the  consequences of a change in the nature or status of your Employment.    To  the  extent  of  any  inconsistency  between  (a)  this  Offer  Document  or  the  Australian  Addendum  and  (b)  any  Additional  Document  (other  than  the  Offer  Document  and  Australian Addendum), the terms of the Offer Document (and Australian Addendum) will  apply.      4.      RELIANCE ON STATEMENTS   You should not rely upon any oral statements made to you in relation to this Offer.  You  should  only  rely  upon  the  statements  contained  in  this  Offer  Document  and  the  Additional Documents when considering your participation in the Plan.    5.      WHO IS ELIGIBLE TO PARTICIPATE   You are eligible to participate in the Plan if, at the time of the offer, you are an Australian  resident employee, officer, consultant, advisor or non-employee Director of the Company  or an Australian subsidiary and meet the eligibility requirements established under the  Plan.   6.      ACCEPTING AN AWARD   Your Agreement sets out the key details of your Award.  To accept your grant you must  expressly accept the Award within the period set out in your Agreement, and in any case  no more than thirty (30) days from the date on which the Board made the determination  to grant the Award.    7.      WHAT ARE THE MATERIAL TERMS OF AN AWARD?          (a)              What is Deferred Stock?          A Deferred Stock Award represents the right to receive shares of Common Stock of the  Company on fulfilment of the time-based vesting conditions set out in your Agreement.   When your Deferred Stock vests, you will be issued shares of the Company’s Common  Stock at  no  monetary  cost  to  you.   The Deferred Stock is  considered  “restricted”  because  it  will  be  subject  to  forfeiture  and  restrictions  on  transfer  until  it  vests.   The  restrictions will be set forth in the attached Agreement.           (b)      Do  I  have  to  pay  any  money  to  receive  the  Deferred Stock                  Award?    No.  You do not pay any monetary consideration to receive this Award, and you do not  pay any monetary consideration to receive the shares of Common Stock subject to your  Award upon vesting.                                              55  

 

          (c)      How many shares of Common Stock will I receive upon vesting                  of my Deferred Stock Award?    Your  Agreement  will  indicate  the  number  of  shares  of Common  Stock subject  to  your  Award.                (d)       When do I become a Stockholder?          You are not a stockholder merely as a result of holding an Award, and your Award does  not entitle you to vote or receive dividends, notices of meeting, proxy statements or other  materials provided to stockholders until the shares of Common Stock are issued to you  upon vesting.  You should also refer to your Agreement for details of the consequences  of a change in the nature of your Employment.                (e)         Can I transfer my Award to someone else?          No.   However,  once  shares  of Common  Stock are  issued  to  you  upon  vesting,  the  shares  will  be  freely  tradeable  and  transferable.  Please  note,  though,  the  possible  disclosure obligations included under clause 9.    8.      WHAT IS A SHARE OF STOCK IN THE COMPANY?    Common  stock  of  a  U.S.  corporation  is  analogous  to  ordinary  shares  of  an  Australian  company.   Each  holder  of Common  Stock is  entitled  to  one  vote  for  every  share  of  Common Stock held in the Company.   Dividends  may  be  paid  on  the  shares  of Common  Stock out  of  any  funds  of  the  Company legally available for dividends at the discretion of the Board of Directors of the  Company.    The shares of Common Stock are traded on the New York Common Stock Exchange and  are traded under the symbol STT.   Shares of Common Stock are not liable to any further calls for payment of capital or for  other assessment by the Company and have no sinking fund provisions, pre-emptive rights,  conversion rights or redemption provisions.    9.      HOW  CAN  I  OBTAIN  UPDATED  INDICATIVE  EXAMPLES  OF  THE          CURRENT MARKET PRICE IN AUSTRALIAN DOLLARS?    Within a reasonable period following your request, the Company undertakes to provide you  with  the Australian  dollar  equivalent  of  the current market price  of  a share  of Common  Stock,  (calculated  as  at  the  date  of  your  request).   The  current  market  price  for  this  purpose  will  be  the  final  sale  price  of  a  share  of Common  Stock on  the  New  York  Common  Stock Exchange  on  the  trading  day  immediately  preceding  the  date  of  your  request.     The  Australian  dollar  equivalent  of  these  prices  will  be  calculated  using  the  Australian/U.S.  dollar  exchange rate  published  by  an  Australian  bank  on  the  business  day  immediately  preceding  the  date  of  your  request.   Please  note  that  the  Australian  dollar equivalent of these prices is only provided as information and not as a prediction                                     56  

 

   of the Australian dollar equivalent of the fair market value of a share of Common Stock  at the time of vesting.  The Australian dollar equivalent at these times will depend on the  exchange rate applied by your bank in converting your Australian dollars to U.S. Dollars  at the time of vesting.  The exchange rate is available at:    http://www.rba.gov.au/statistics/frequency/exchange-rates.html    You should direct your request to:      Name:      John T. Sheehan     Title:     Compensation Consultant, Global Benefits & Equity      Australian  Affiliate means  State  Street  Australia Limited;  State  Street  Global     Advisors Australia; State Street Bank and Trust Company – Sydney Branch and     any other Associated Body Corporate employing Employees in Australia.      Address:  State Street Financial Center, 1 Lincoln Street, Boston, MA 02116,               USA     Phone:     +1 617-664-5455     Email:     jtsheehan@statestreet.com        10.     WHAT ADDITIONAL RISK FACTORS APPLY TO AUSTRALIAN RESIDENTS'          PARTICIPATION IN THE PLAN?    Employees  should  consider  generally  the  risk  factors  connected  with  investing  in  securities and, in particular, to holding shares of Common Stock.  You should be aware  that the fair market value of shares of Common Stock underlying your Award and the future  value of shares of Common Stock you acquire and the Australian dollar equivalent of these  values will be affected by:         (a)       fluctuations in the Company's performance;          (b)       fluctuations in the U.S.$/A$ exchange rate;          (c)       factors identified from time to time by the Company's filings with the                  U.S. Securities and Exchange Commission;          (d)       fluctuations in the domestic and international market for listed stocks         (e)       general economic conditions including interest rates, inflation rates,                  commodity and oil prices;         (f)       changes to governmental fiscal, monetary and regulatory policies;         (g)       legislation or regulation;         (h)       the nature of the markets in which the Company operates; and         (i)       general operational business risks.                                      57  

 

   Please note that if you offer your shares of Common Stock for sale to a person or entity  resident  in  Australia,  your  offer  may  be  subject  to  disclosure  requirements  under  Australian  law.   Please  obtain  legal  advice  on  your  disclosure  obligations  before  you  make any such offer.   11.     PLAN MODIFICATION, TERMINATION, ETC.    Subject to Section 9 of the U.S. Plan, the Board may amend, alter, suspend, discontinue  or terminate the Plan or any part of it at any time.    12.     WHAT  ARE  THE  AUSTRALIAN  TAXATION  CONSEQUENCES  OF          PARTICIPATION IN THE PLAN?    Please see the Additional Document entitled "Employee Information Supplement –  Deferred Stock Awards" for information regarding the Australian tax treatment of your  Award.    13.     WHAT ARE THE U.S. TAXATION CONSEQUENCES OF PARTICIPATION          IN THE PLAN?          Employees (who are not U.S. citizens or permanent residents) will not be subject to U.S.  tax by reason only of the grant and vesting of the Deferred Stock or the sale of shares of  Common Stock, except as described in the dividends section of the “Employee  Information Supplement - Deferred Stock”.  However, liability for U.S. taxes may accrue  if an employee is otherwise subject to U.S. taxes.      The above is an indication only of the likely U.S. taxation consequences for Australian  resident  employees  receiving  Awards  under  the  Plan.   Award  recipients  should  seek  their own advice as to the U.S. taxation consequences of Plan participation.   14.     RESTRICTION ON CAPITAL RAISING 5% LIMIT   In addition to any other limitations as identified in this Offer Document, the Plan or as  prescribed by the Board from time to time under the terms of the Plan, there is an overall  restriction on the number of shares of Common Stock that can be issued to Australian  employees.                            *          *          *          *          *    We urge you to carefully review the information contained in this Offer Document and  the Additional Documents.  If you have any questions, please contact the person listed in  Section 9.    Yours sincerely,    State Street Corporation                                                                                      58  

 

                         STATE STREET CORPORATION                       2017 STOCK INCENTIVE PLAN                                                     [____] Deferred Stock Award Agreement--Directors          You have elected to defer payment of one or more of the annual stock award,  annual retainer or an additional retainer payable to you for your services as a member of  the State Street Board of Directors from the date of the [____] Annual Meeting of  Shareholders to the date of the [____] Annual Meeting of Shareholders. The total number  of shares of Stock you elected to defer (the “Deferred Shares”) is shown on your  investment report on the website maintained by the Equity Administrator (Fidelity or  another third party designated by the Corporation). The Deferred Shares are granted  under the State Street Corporation 2017 Stock Incentive Plan (the “2017 Plan”), and are  subject to the terms and conditions contained in the 2017 Plan, the State Street  Corporation Deferred Compensation Plan for Directors (the “Deferral Plan”), the related  election forms and the terms set forth below. All capitalized terms used herein shall have  the meaning given to them in the Deferral Plan, except as otherwise expressly provided  herein.                 1.    The Deferred Shares plus any additional shares of Stock determined under  paragraph 3 below (the Deferred Shares plus the shares described in paragraph 3 being  hereinafter referred to as the “[____] shares”) will be issued to you [in accordance with  the election you made for the [____] shares or as otherwise provided under the terms of  the Deferral Plan] [for Canadian directors: as soon as practicable following your  Separation from Service and, in any event, no later than the end of the calendar year in  which such Separation from Service occurs or, if later, the 15th day of the third month  following the date of such Separation from Service.   For this purpose, you will not be  deemed to have a Separation from Service so long as you continue to provide any  services as a director or employee; provided, however, a Separation from Service will be  deemed to occur in the event you terminate all positions as an employee or director of the  Company, but continue to provide services as a consultant]. In the event of your death  prior to the issuance of the [____] shares, the [____] shares will be issued to your  [Beneficiary.   You may designate a Beneficiary or Beneficiaries (or change a designation  previously made)] [for Canadian directors: spouse, relatives, dependent or estate, as the  beneficiaries of the trust (your “Permitted Beneficiaries”).  You may designate your  Permitted Beneficiary] by contacting the Equity Administrator.                2.    Any election to change the timing (to a later date) and/or form of payment  of the [____] shares must be made in accordance with the terms of the Deferral Plan.  Please feel free to contact the Equity Administrator (Fidelity Executive Services, 800 823  0217 – Team 503) or the State Street Head of Executive Compensation if you have any  questions regarding the Deferral Plan or wish to request a re-deferral form.                 3.    You will not have any rights as a stockholder with respect to the [____]  shares until they have been issued to you. However, if any dividends and/or distributions      

 

   (other than distributions described in paragraph 4) are paid on the Stock prior to the date  you are issued the [____] shares, the number of [____] shares notionally credited to your  account will be increased by the number of shares obtained as follows: by dividing the  total applicable dividend or distribution you would have received if you had owned the  [____] shares credited to your account on the dividend or other distribution declaration  date, by the closing price of a share of Stock on the date the dividend or distribution was  paid.                4.    The number and kind of shares constituting the [____] shares shall further  be appropriately adjusted by the Board to reflect stock splits, stock dividends or similar  changes in the capitalization of the Corporation.                5.    Your rights to the [____] shares are only those of an unsecured creditor of  the Corporation. Nothing herein or in the Deferral Plan or otherwise shall be construed as  obligating the Corporation to establish a trust or otherwise to set aside Stock or funds to  meet its obligations hereunder or under the Deferral Plan.                6.    Nothing herein or in the Deferral Plan or otherwise shall obligate the  Corporation to register the shares of Stock to be issued hereunder. You acknowledge that  Federal and state securities laws or other laws may limit the extent to which you or your  [for Canadian directors: Permitted] Beneficiary(ies) may sell or otherwise transfer or  dispose of any shares of Stock issued hereunder. Under currently applicable rules under  the Securities Exchange Act of 1934, as amended, you are required to report the award  described above as a [____] exempt award.                7.    [The Board may at any time vote to accelerate the issuance of the [____]  shares to you, but only if doing so would be consistent with the requirements of Section  409A. The Deferral Plan and the award described herein are intended to comply with  Section 409A and shall be subject to such modifications as are necessary so to comply.]  [for Canadian directors: No additional awards may be made or awards adjusted to reduce  the impact to you of any decline in the value of the Deferred Shares.]                8.    You agree that as a precondition to the issuance of any of the [____]  shares, you will pay to the Corporation such amounts, if any (including, but not limited  to, income taxes and social insurance contributions if applicable), as are required to be  withheld by the Corporation in respect of the award and payments described herein.                9.    The Deferral Plan and the award described herein shall be construed and  administered by the Board in accordance with [applicable Federal law, but otherwise  pursuant to] the laws of the Commonwealth of Massachusetts [for Canadian directors: to  the maximum extent allowed by local law], and the determination of the Board shall be  binding on all persons.

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