Document:

Bank of America 401(k) Restoration Plan, as amended & restated effective Jan.1,2

 Exhibit 10(e) 
  
 BANK OF AMERICA 401(k) RESTORATION PLAN 
  
 (as amended and restated effective January 1, 2005) 

 BANK OF AMERICA 401(k) RESTORATION PLAN 
  
 Table of Contents 
  

					
	 	 	 	  	Page

	 ARTICLE I DEFINITIONS
	  	3
			
	 Section 1.1
	 	 Definitions
	  	3
		
	 ARTICLE II PLAN ADMINISTRATION
	  	5
			
	 Section 2.1
	 	 Committee
	  	5
		
	 ARTICLE III DEFERRED COMPENSATION PROVISIONS
	  	5
			
	 Section 3.1
	 	 Eligibility
	  	5
			
	 Section 3.2
	 	 Form and Time of Elections
	  	6
			
	 Section 3.3
	 	 Deferrals.
	  	6
			
	 Section 3.4
	 	 Matching Contributions.
	  	6
			
	 Section 3.5
	 	 Account Adjustments.
	  	7
			
	 Section 3.6
	 	 Vesting of Accounts
	  	8
			
	 Section 3.7
	 	 Distribution Provisions for 2005.
	  	8
			
	 Section 3.8
	 	 Distribution Provisions After 2005.
	  	8
			
	 Section 3.9
	 	 General Payment Provisions.
	  	11
			
	 Section 3.10
	 	 Catch-Up Contributions
	  	11
			
	 Section 3.11
	 	 Special Provisions Related to Completion Incentives
	  	11
			
	 Section 3.12
	 	 Other Contributions
	  	11
		
	 ARTICLE IV AMENDMENT AND TERMINATION
	  	12
			
	 Section 4.1
	 	 Amendment and Termination
	  	12
		
	 ARTICLE V MISCELLANEOUS PROVISIONS
	  	12
			
	 Section 5.1
	 	 Nature of Plan and Rights
	  	12
			
	 Section 5.2
	 	 Termination of Employment
	  	12
			
	 Section 5.3
	 	 Spendthrift Provision
	  	12
			
	 Section 5.4
	 	 Employment Noncontractual
	  	12
			
	 Section 5.5
	 	 Adoption by Other Participating Employers
	  	12
			
	 Section 5.6
	 	 Applicable Law
	  	12
			
	 Section 5.7
	 	 Merged Plans
	  	12
			
	 Section 5.8
	 	 Status Under the Act
	  	13
			
	 Section 5.9
	 	 Compliance With Code Section 409A
	  	13
			
	 Section 5.10
	 	 Claims Procedure
	  	13

 BANK OF AMERICA 401(k) RESTORATION PLAN 
  
 (as amended and restated effective January 1, 2005) 

 
 THIS INSTRUMENT OF AMENDMENT AND RESTATEMENT is executed by BANK OF
AMERICA CORPORATION, a Delaware corporation (the “Corporation”); 
  
 Statement of Purpose 
  
 The
Corporation sponsors the Bank of America 401(k) Restoration Plan (the “Restoration Plan”). The purpose of the Restoration Plan is to provide benefits, on a non-qualified and unfunded basis, to certain associates whose benefits under The
Bank of America 401(k) Plan or the FleetBoston Financial Savings Plan are adversely affected by the limitations of Sections 401(a)(17), 401(k)(3), 401(m), 402(g) and 415 of the Internal Revenue Code, as well as any other limitations that may be
placed on highly compensated participants under such plans. 
  
 The Participating Employers are amending and restating the Restoration Plan effective January 1, 2005 as set forth herein to (i) reflect certain design changes to the Restoration Plan as part of a broader re-design of benefit
plans in connection with the Corporation’s merger with FleetBoston Financial Corporation, (ii) provide for the Restoration Plan’s compliance with the requirements of Code Section 409A and (iii) otherwise meet current needs.

  
 NOW, THEREFORE, for the purposes aforesaid, the Corporation
hereby amends and restates the Restoration Plan effective January 1, 2005 to consist of the following Articles I through V: 
  
 ARTICLE I 
 DEFINITIONS 
  
 Section 1.1 Definitions. Unless the context clearly indicates
otherwise, when used in the Restoration Plan: 
  
 Account means, collectively, the Deferral Account and Matching Contribution Restoration Account and a Predecessor Company Account (if any). 
  
 Associate means a common law employee of a Participating Employer who is identified as an employee in the personnel records of the
Participating Employer. 
  
 Base Salary
for an Eligible Associate means the portion of the Eligible Associate’s compensation treated as base salary or wages by the Eligible Associate’s Participating Employer, or for an Eligible Associate who receives commissions, the portion of
the Eligible Associate’s compensation treated as draw by the Eligible Associate’s Participating Employer. 
  
 Beneficiary means the “Beneficiary” under the 401(k) Plan of a Participant, unless the Participant elects a different
Beneficiary for purposes of the Restoration Plan in accordance with such procedures as the Personnel Group may establish from time to time. If there is no Beneficiary election in effect under the 401(k) Plan or the Restoration Plan at the time of a
Participant’s death, or if the designated Beneficiary fails to survive the Participant, then the Beneficiary shall be the Participant’s surviving spouse, or if there is no surviving spouse, the Participant’s estate. 
  
 Class Year Deferrals means the following: 

 

	 	(i)	 	For each Plan Year, the deferrals of a Participant’s Base Salary under Section 3.3(b) for the Plan Year plus the deferral of any portion of the Participant’s Eligible
Incentive Award earned for services rendered during the Plan Year, including any related adjustments for deemed investments in accordance with Section 3.5 below. 

  

	 	(ii)	 	In addition, in accordance with Section 3.8(a) below, all matching contributions credited to the Restoration Plan for a Participant after 2005 under Section 3.4 below plus
any other amounts credited to the Restoration Plan for the Participant after 2005 under Section 3.12 below, including any related adjustments for deemed investments in accordance with Section 3.5 below, shall collectively constitute one
separate set of Class Year Deferrals for the Participant. 

  
 Code means the Internal Revenue Code of 1986. References to the Code shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered
thereunder. 
  
 Code Limitations means any
one or more of the limitations and restrictions that Sections 401(a)(17), 401(k)(3), 401(m), 402(g) and 415 of the Code place on the pre-tax retirement savings contributions and employer matching 

  

 3 

 
contributions for a Participant under the 401(k) Plan. In addition, Code Limitations means and refers to any other limitations on contributions under the
401(k) Plan or established by the 401(k) Plan administrative committee with respect to highly compensated participants. 
  
 Committee means the committee designated pursuant to Section 2.1 of the Restoration Plan. 
  
 Completion Incentive means an incentive award payable
to an Eligible Associate upon completion of an assignment outside the United States, which incentive award relates to one or more Plan Years, all pursuant to an incentive arrangement approved for purposes of the Restoration Plan by the Committee.

  
 Corporation is defined in the
introduction as Bank of America Corporation, a Delaware corporation, and any successor thereto. 
  
 Deferral Account means the account established and maintained on the books of a Participating Employer to record a
Participant’s interest under the Restoration Plan attributable to amounts credited to the Participant pursuant to Section 3.3 below. 
  
 EIP means the Bank of America Corporation Equity Incentive Plan, as in effect from time to time. 
  
 Eligible Associate means, for a Plan Year, an
Associate who the Personnel Group has determined satisfies the eligibility requirements set forth in Section 3.1 below for the Plan Year. 
  
 Eligible Incentive Award means (i) any commissions and (ii) any incentive awards payable in cash pursuant to (A) the
Bank of America Executive Incentive Compensation Plan or (B) any other incentive compensation plan of the Corporation or any of its Subsidiaries approved for purposes of this Restoration Plan by the Committee. Eligible Incentive Awards may be
payable annually, quarterly, or on such other basis as provided by the applicable plan. Eligible Incentive Awards shall not include contest prizes, hiring, retention or employment referral bonuses, one-time bonuses, suggestion program awards or any
severance or similar benefits. For a legacy Fleet Associate who is an Eligible Associate for Plan Year 2005 or later, any incentive compensation payable during 2005 or later for performance year 2004 shall not be included as an Eligible Incentive
Award and shall not otherwise be deferrable under the Restoration Plan. 
  
 401(k) Plan means, with respect to an Eligible Associate, the applicable tax-qualified 401(k) plan in which the Eligible Associate participates: namely, either The Bank of America 401(k) Plan or the FleetBoston
Financial Savings Plan, as such plans are in effect from time to time. 
  
 Matchable Compensation means the total gross Base Salary and Eligible Incentive Awards payable to a Participant during the portion of a Plan Year (if any) during which the Participant is eligible to receive
matching contributions under the 401(k) Plan; provided, however, that in no event shall Matchable Compensation for the Plan Year exceed Two Hundred Fifty Thousand Dollars ($250,000). 
  
 Matchable Deferrals means the aggregate pre-tax
retirement savings contributions made by a Participant under the 401(k) Plan during the portion of a Plan Year (if any) during which the Participant is eligible to receive matching contributions under the 401(k) Plan plus the aggregate deferrals of
Base Salary and Eligible Incentive Awards made by the Participant under the Restoration Plan during such period. 
  
 Matching Contribution Restoration Account means the account established and maintained on the books of a Participating Employer to
record a Participant’s interest under the Restoration Plan attributable to amounts credited to the Participant pursuant to Section 3.4(b) or Section 3.4(c) of the Restoration Plan. 
  
 Match Rate for a Participant for a Plan Year means
the Participant’s Matchable Deferrals for the Plan Year divided by the Participant’s Matchable Compensation for the Plan Year; provided, however, that in no event shall the Match Rate for the Plan Year exceed five percent
(5%). 
  
 Participant means an Eligible
Associate who has elected to participate in the Restoration Plan for a Plan Year, or any other current or former Associate who has an Account balance under the Restoration Plan. 
  
 Participating Employer means (i) the Corporation, (ii) each other “Participating
Employer” under (and as defined in) the 401(k) Plan on the date hereof and (iii) any other incorporated or unincorporated trade or business which may hereafter adopt both the 401(k) Plan and the Restoration Plan. In addition, the Personnel
Group, in its sole and exclusive discretion, may designate certain other entities as “Participating Employers” under the Restoration Plan for such purposes as the Personnel Group may determine from time to time. 
  
 Personnel Group means the Personnel Group of the
Corporation. 
  
 Plan Year means the
twelve-month period commencing January 1 and ending the following December 31. 
  
 Pre-2005 Account means deferrals, matching contributions or any other contributions that were credited to the Restoration Plan
prior to 2005, including any related adjustments for deemed investments in accordance with Section 3.5 below. 
  

 4 

 Restoration Plan is defined in the Statement of Purpose as this plan: the Bank of
America 401(k) Restoration Plan as in effect from time to time. 
  
 Rule of 60 with respect to a Participant means the Participant’s having (i) completed at least ten (10) years of “Vesting Service” under the tax-qualified Pension Plan sponsored by Bank
of America in which the Participant participates (namely, either The Bank of America Pension Plan or the FleetBoston Financial Pension Plan, as such plans are in effect from time to time) and (ii) attained a combined age and years of
“Vesting Service” equal to at least sixty (60). 
  
 2005 Account means (i) deferrals, matching contributions or any other contributions that were credited to the Restoration Plan during 2005 plus (ii) any deferral of an Eligible Incentive Award for
performance year 2005 credited to the Restoration Plan after 2005, in each case including any related adjustments for deemed investments in accordance with Section 3.5 below. 
  
 ARTICLE II 
 PLAN
ADMINISTRATION 
  
 Section 2.1 Committee. The
Restoration Plan shall be administered by the “Committee” under (and as defined in) the 401(k) Plan (although certain provisions of the Restoration Plan shall be administered by the Personnel Group as specified herein). The Committee shall
be empowered to interpret the provisions of the Restoration Plan and to perform and exercise all of the duties and powers granted to it under the terms of the Restoration Plan by action of a majority of its members in office from time to time. The
Committee may adopt such rules and regulations for the administration of the Restoration Plan as are consistent with the terms hereof and shall keep adequate records of its proceedings and acts. All interpretations and decisions made (both as to law
and fact) and other action taken by the Committee with respect to the Restoration Plan shall be conclusive and binding upon all parties having or claiming to have an interest under the Restoration Plan. Not in limitation of the foregoing, the
Committee shall have the discretion to decide any factual or interpretative issues that may arise in connection with its administration of the Restoration Plan (including without limitation any determination as to claims for benefits hereunder), and
the Committee’s exercise of such discretion shall be conclusive and binding on all affected parties as long as it is not arbitrary or capricious. The Committee may delegate any of its duties and powers hereunder to the extent permitted by
applicable law. 
  
 ARTICLE III 
 DEFERRED COMPENSATION PROVISIONS 
  
 Section 3.1 Eligibility. Prior to each Plan Year, or at such other times as the Personnel Group shall determine consistent with applicable
law, the Personnel Group shall determine which Associates shall be Eligible Associates for such Plan Year in accordance with the provisions of this Section. An Associate shall be an Eligible Associate with respect to the 2005 Plan Year if:

  
 (i) the Personnel Group determines that the
Associate has either (A) an annual rate of Base Salary as of the date of eligibility determination equal to or exceeding One Hundred Fifty Thousand Dollars ($150,000), (B) total cash compensation year-to-date through the date of
eligibility determination for the 2005 Plan Year equal to or exceeding One Hundred Fifty Thousand Dollars ($150,000) or (C) total cash compensation year-to-date through the date of eligibility determination for the 2005 Plan Year plus Base
Salary projected to year-end equal to or exceeding One Hundred Fifty Thousand Dollars ($150,000); or 
  
 (ii) with respect to a newly hired Associate, the Associate has an annual rate of Base Salary equal to or exceeding One Hundred Fifty
Thousand Dollars ($150,000). 
  
 An Associate shall be an Eligible
Associate with respect to any Plan Year after the 2005 Plan Year if: 
  
 (x) the Personnel Group determines that the Associate either (A) has an annual rate of Base Salary as of the date of eligibility determination equal to or exceeding One Hundred Fifty Thousand Dollars ($150,000)
or (B) had total cash compensation for the one-year period immediately prior to the date of eligibility determination equal to or exceeding One Hundred Fifty Thousand Dollars ($150,000); or 
  
 (y) with respect to a newly hired Associate, the Associate
has an annual rate of Base Salary equal to or exceeding One Hundred Fifty Thousand Dollars ($150,000). 
  
 The Personnel Group, in its discretion, shall establish the administrative procedures with respect to the foregoing eligibility determinations, including
without limitation the measurement of total cash compensation for any period. Notwithstanding the foregoing, the Personnel Group may, in its discretion, determine that an Associate or group of Associates who otherwise meet the foregoing requirements
are nonetheless ineligible to participate in the Restoration Plan. 
  

 5 

 Section 3.2 Form and Time of Elections. Each Eligible Associate for a Plan Year may elect to
defer under the Restoration Plan such amounts as provided by this Article III in accordance with the procedures set forth in this Section 3.2. Such deferral elections shall be made prior to January 1 of the Plan Year, provided that a newly
hired Associate who first becomes eligible to participate in the Restoration Plan after the start of the Plan Year may make such deferral election within thirty (30) days after first becoming eligible to participate in the Restoration Plan as
notified by the Personnel Group. All elections made under this Section 3.2 shall be made in writing on a form, or pursuant to such other non-written procedures, as may be prescribed from time to time by the Personnel Group and shall be
irrevocable for such Plan Year. In addition, if an Eligible Associate elects to defer any Base Salary or Eligible Incentive Awards under the Restoration Plan for a Plan Year, any election by the Eligible Associate to defer compensation under the
401(k) Plan shall also be irrevocable for the Plan Year. An election to defer by a newly hired Associate made after the start of the Plan Year shall only apply prospectively to amounts otherwise payable after the date of the applicable deferral
election. An election by an Eligible Associate under this Section 3.2 shall continue in effect for all subsequent Plan Years (during which the Eligible Associate remains an Eligible Associate) unless and until changed or terminated by the
Eligible Associate in accordance with procedures established from time to time by the Personnel Group. Any such change in or termination of an election under this Section 3.2 shall be effective as of the January 1 of the next succeeding
Plan Year and shall be irrevocable for such Plan Year. If an Eligible Associate elects to participate in the Restoration Plan for a Plan Year, terminates employment during the Plan Year and is subsequently re-hired during the same Plan Year as an
Eligible Associate, the election to defer under the Restoration Plan with respect to such Plan Year that was in effect prior to termination of employment shall remain in effect for the Plan Year after the re-hire date. Notwithstanding any provision
herein to the contrary, Eligible Associates who made an election to defer Eligible Incentive Awards earned for performance during 2005 and otherwise payable in 2006 shall be given the opportunity during 2005 to rescind or reduce such deferral
election at such time and pursuant to such procedures as adopted by the Personnel Group for such purpose. 
  
 Section 3.3 Deferrals. 
  
 (a) Deferral Accounts. A Participating Employer shall establish and maintain on its books a Deferral Account for each Eligible Associate employed
by such Participating Employer who elects pursuant to Section 3.2 to defer the receipt of any amount under the Restoration Plan. Such Deferral Account shall be designated by the name of the Eligible Associate for whom established. The amount to
be deferred under this Section 3.3 for a payroll period shall be credited to such Deferral Account on, or as soon as administratively practicable after, the payroll date. See Section 3.10 below regarding the effect of “catch-up”
contribution elections under the 401(k) Plan. 
  
 (b) Election
to Defer Base Salary. An Eligible Associate for a Plan Year may elect pursuant to Section 3.2 above to defer up to thirty percent (30%) of the Eligible Associate’s Base Salary for the Plan Year; provided, however,
that no such deferral shall be made unless and until no additional deferrals may be made to the 401(k) Plan because of the Code Limitations. 
  
 (c) Election to Defer Eligible Incentive Awards. Each Eligible Associate for a Plan Year may elect pursuant to Section 3.2 above to defer up
to ninety percent (90%) of any Eligible Incentive Award otherwise payable to the Eligible Associate for services rendered during the Plan Year (regardless of whether the Eligible Incentive Award is payable during or after the applicable Plan
Year). Such deferral shall be made without regard to the Code Limitations. Any portion of an Eligible Incentive Award not deferred under the Restoration Plan shall be excluded from the Eligible Associate’s compensation under the 401(k) Plan in
accordance with, and subject to, the terms and provisions of the 401(k) Plan (and therefore shall not be included in determining the amount of the Eligible Associate’s pre-tax retirement savings contributions or employer matching contributions
under the 401(k) Plan). 
  
 Section 3.4 Matching
Contributions. 
  
 (a) Matching Contribution Restoration
Account. A Participating Employer shall establish and maintain on its books a Matching Contribution Restoration Account for each Eligible Associate employed by such Participating Employer who is credited with a matching contribution under this
Section 3.4. Such Matching Contribution Restoration Account shall be designated by the name of the Eligible Associate for whom established. 
  
 (b) Matching Contributions for Restoration Plan Deferrals. Subject to the provisions of Section 3.4(d) below, if a Participant defers any
amount under the Restoration Plan during a Plan Year in which the Participant is eligible to receive matching contributions under the 401(k) Plan, the Participant shall be eligible to be credited with a matching contribution to the
Participant’s Matching Contribution Restoration Account for the Plan Year. The amount of the matching contribution shall equal Amount A less Amount B (but not less than zero), where: 
  
 Amount A equals the Participant’s Match Rate for
the Plan Year multiplied by the Participant’s Matchable Compensation for the Plan Year; and 
  

 6 

 Amount B equals the aggregate amount of matching contributions allocated to the
Participant’s account under the 401(k) Plan for each payroll period ending during the Plan Year plus the amount of any additional “true-up” match under the 401(k) Plan for the Plan Year. 
  
 Matching contributions under the Restoration Plan shall be determined and credited as soon as
administratively practicable following the end of the applicable Plan Year. 
  
 (c) Matching Contributions for EIP Awards. Under the EIP, a percentage of an eligible Associate’s annual incentive award earned for a performance period beginning on or after January 1, 2002 is made
in the form of an award of restricted stock shares or restricted stock units granted under the Bank of America Corporation 2003 Key Associate Stock Plan (or any successor stock plan). The remaining portion of the Associate’s annual incentive
award is payable in cash. Only the portion of the Associate’s annual incentive award payable in cash is eligible for deferral under the 401(k) Plan or the Restoration Plan. However, for an Associate covered by the EIP who is eligible to receive
matching contributions under the 401(k) Plan at the time when the cash portion of such annual incentive award is payable and who either: 
  
 (i) is an Eligible Associate who has made a deferral election under the Restoration Plan applicable to the cash portion of such annual
incentive award; or 
  
 (ii) is not an Eligible
Associate but who has made a deferral election under the 401(k) Plan applicable to the cash portion of such annual incentive award, 
  
 the Associate’s Participating Employer shall credit to the Participant’s Matching Contribution Restoration Account an amount equal to five percent (5%) of
the “Principal Amount” (as defined in the EIP) with respect to such annual incentive award; provided, however, that in no event shall the combined matching contributions under Section 3.4(b) above, this Section 3.4(c) and
the 401(k) Plan for the Plan Year exceed Twelve Thousand Five Hundred Dollars ($12,500). For purposes of this Section, the EIP Principal Amount for an Associate who is in Band 0 shall be the amount communicated to the Personnel Group by the
Corporation’s Executive Compensation group as the EIP Principal Amount. Notwithstanding any provision herein to the contrary, for a legacy Fleet Associate who is an Eligible Associate for Plan Year 2005 and who receives an EIP award with
respect to performance during 2004, no matching contribution shall be provided under this Section 3.4(c) with respect to such EIP award. 
  
 (d) Transition for Performance Year 2004 Incentive Awards. Notwithstanding any provision herein to the contrary, for an Associate who was a
“Key Associate” for performance year 2004 under the Restoration Plan as in effect prior to January 1, 2005, the determination of matching contributions under the Restoration Plan with respect to any “Annual Incentive Award”
(as defined under the Restoration Plan as in effect before January 1, 2005) or EIP award made with respect to performance year 2004 and which is payable or awarded in 2005 or later shall be made in accordance with the provisions of the
Restoration Plan as in effect prior to January 1, 2005 (including application of the $1,000,000 compensation limit that applied under the Restoration Plan prior to January 1, 2005). Any such “Annual Incentive Awards” and any
Restoration Plan deferrals with respect thereto shall not be included in determining the Participant’s Matchable Compensation or Matchable Deferrals under Section 3.4(b) for Plan Year 2005 or after. 
  
 (e) Payroll Taxes. The Personnel Group may determine, in its sole and
exclusive discretion, to deduct from the amount otherwise to be credited to the Matching Contribution Restoration Account of a Participant for a Plan Year an amount necessary to pay any related payroll taxes. 
  
 Section 3.5 Account Adjustments. 
  
 (a) Account Adjustments for Deemed Investments. The Committee shall
from time to time designate one or more investment vehicle(s) in which the Accounts of Participants shall be deemed to be invested. The investment vehicle(s) may be designated by reference to the investments available under other plans sponsored by
a Participating Employer (including the 401(k) Plan). Each Participant shall designate the investment vehicle(s) in which his or her Account shall be deemed to be invested according to the procedures developed by the Personnel Group, except as
otherwise required by the terms of the Restoration Plan. No Participating Employer shall be under an obligation to acquire or invest in any of the deemed investment vehicle(s) under this subparagraph, and any acquisition of or investment in a deemed
investment vehicle by a Participating Employer shall be made in the name of the Participating Employer and shall remain the sole property of the Participating Employer. The Committee shall also establish from time to time a default fund into which a
Participant’s Account shall be deemed to be invested if the Participant fails to provide investment instructions pursuant to this Section 3.5(a). Effective January 1, 2005, such default fund shall be the Stable Capital Fund (or Stable
Asset Fund for a legacy Fleet Associate). 
  
 (b) Periodic
Account Adjustments. Each Account shall be adjusted from time to time at such intervals as determined by the Personnel Group. The Personnel Group may determine the frequency of account adjustments by reference to the 

  

 7 

 
frequency of account adjustments under another plan sponsored by a Participating Employer. The amount of the adjustment shall equal the amount that each
Participant’s Account would have earned (or lost) for the period since the last adjustment had the Account actually been invested in the 401(k) Plan in the deemed investment vehicle(s) designated by the Participant for such period pursuant to
Section 3.5(a). The Personnel Group may establish any limitations on the frequency in which Participants may make investment designations under this Section 3.5 as the Personnel Group may determine necessary or appropriate from time to
time, including limitations related to frequent trading or market timing activities. 
  
 Section 3.6 Vesting of Accounts. All Deferral Accounts are fully (100%) vested. Because all 401(k) matching contributions are fully (100%) vested as of January 1, 2005, all Matching
Contribution Restoration Accounts shall be fully (100%) vested for any active Associate who participates in the Restoration Plan from and after January 1, 2005. The vesting provisions of the Restoration Plan as in effect prior to
January 1, 2005 shall continue to apply to any Associate who terminated employment with the Participating Employers prior to January 1, 2005. 
  
 Section 3.7 Distribution Provisions for 2005. 
  
 (a) In-Service Withdrawals. Up through September 30, 2005 (or such other date during 2005 as selected by the Personnel Group), each
Participant who is in the active service of a Participating Employer shall continue to be eligible to receive in-service withdrawals with a ten percent (10%) forfeiture consistent with the provisions of Section 3.8(a) of the Restoration
Plan as in effect on December 31, 2004, but without the requirement that the Participant be suspended from making any deferral elections under the Restoration Plan for the 2006 Plan Year. In addition, each Participant who is in the active
service of a Participating Employer shall be given the opportunity to elect up through September 30, 2005 (or such other date during 2005 as selected by the Personnel Group) a distribution of some or all of the Participant’s Account
balance as of such date (without requirement of a ten percent (10%) forfeiture). Such distribution shall be made on or about October 31, 2005 (or such other date during 2005 as determined by the Personnel Group). In addition, Participants
shall be eligible during 2005 to make in-service withdrawals for unforeseeable emergency in accordance with the provisions of Section 3.8(h) below. 
  
 (b) Special Payment Elections. Each Participant who is in the active service of a Participating Employer on any date during 2005 shall be given the
opportunity during 2005 to make a payment election applicable separately to the Participant’s (i) Pre-2005 Account and (ii) 2005 Account, in each case to the extent such amounts are not otherwise withdrawn during 2005 pursuant to
Section 3.7(a) above. The Participant may in each case elect from among the class year payment options set forth in Section 3.8(b) below, and such election shall be immediately effective. In the event a Participant covered by this
Section 3.7(b) fails to make a payment election with respect to either the Participant’s Pre-2005 Account or 2005 Account, as applicable, the payment method shall be (x) the payment method most recently elected by the Participant
under the Restoration Plan according to the records of the Personnel Group, even if that prior payment election had not yet become effective, or (y) in the absence of any such prior payment election, a lump sum payment following termination of
employment as set forth in Section 3.8(b) below. Any subsequent change to such payment election must comply with the requirements of Section 3.8(c) below. Payments pursuant to such election shall otherwise be subject to the requirements of
Section 3.8 below, including without limitation the default lump sum payment rules of Section 3.8(d) and the special rules for certain “specified employees” pursuant to Section 3.8(i). 
  
 Section 3.8 Distribution Provisions After 2005. 
  
 (a) Class Year Payment Elections. A Participant for a Plan Year
beginning on or after January 1, 2006 shall elect from among the available forms of payment set forth in Section 3.8(b) below the form of payment that shall apply to the Class Year Deferrals for such Plan Year. The class year payment
election shall be made coincident with the deferral elections under Section 3.3(b) and (c) above for such Plan Year. In addition, as to the Class Year Deferrals comprised of all matching contributions credited after 2005 pursuant to
Section 3.4 above or any other amounts credited after 2005 pursuant to Section 3.12 below for a Participant, the applicable class year payment election shall be made by the Participant coincident with the first time the Participant makes a
deferral election under the Restoration Plan for any Plan Year beginning on or after January 1, 2006. 
  
 (b) Available Forms of Payment. A Participant shall select from among the following forms of payment for each set of Class Year Deferrals. The
Participant must select a single form of payment applicable to each set of Class Year Deferrals (i.e., a set of Class Year Deferrals may not be “split” among more than one form of payment): 
  
 Lump Sum Payment Following Termination of Employment.
The balance of the applicable Class Year Deferrals shall be payable following the Participant’s termination of employment with the Participating Employers in a single cash payment. 
  
 Lump Sum Payment In Specified Year. The balance of the applicable Class Year Deferrals shall be
payable in the calendar year elected by the Participant, not to exceed the calendar year in which the Participant attains age 75, in a single cash payment. 
  

 8 

 Annual Installments Following Termination of Employment. The balance of the
applicable Class Year Deferrals shall be payable following the Participant’s termination of employment with the Participating Employers in annual installment payments over a period of years selected by the Participant not to exceed ten (10).

  
 Annual Installments Commencing In
Specified Year. The balance of the applicable Class Year Deferrals shall be payable commencing in the calendar year elected by the Participant, not to exceed the calendar year in which the Participant attains age 75, in annual installment
payments over a period of years selected by the Participant not to exceed ten (10). 
  
 A Participant who fails to make a class year payment election for a set of Class Year Deferrals in accordance with the provisions of this Section 3.8(b) shall be deemed to have elected for such set of Class Year
Deferrals a lump sum payment following termination of employment. 
  
 (c) Subsequent Changes to Payment Elections. A Participant may change the form of payment elected under Section 3.8(b), or the form of payment subsequently elected under this Section 3.8(c), with respect to a set of Class
Year Deferrals only if (i) such election is made at least twelve (12) months prior to the date the payment of the Class Year Deferrals would have otherwise commenced and (ii) the effect of such election is to defer commencement of
such payments by at least five (5) years. 
  
 (d) Default
Lump Sum Payment. Notwithstanding any provision herein to the contrary, a Participant’s entire Account balance shall be payable in a single cash payment following the Participant’s termination of employment with the Participating
Employers if, as of the Participant’s date of termination of employment with the Participating Employers, either (i) the amount of the Participant’s Account balance equals Fifty Thousand Dollars ($50,000) or less or (ii) the
Participant had less than five (5) years of “Vesting Service” under the tax-qualified Pension Plan sponsored by Bank of America in which the Participant participates (namely, either The Bank of America Pension Plan or the FleetBoston
Financial Pension Plan, as such plans are in effect from time to time). 
  
 (e) Timing of Lump Sum Payments. 
  
 Lump Sum Payment Following Termination of Employment. Class Year Deferrals payable as a lump following a Participant’s termination of employment with the Participating Employers shall be paid in a single cash payment to the
Participant within ninety (90) days following the end of the Plan Year in which the termination of employment occurs; provided, however, that if the Personnel Group is not notified of a Participant’s termination of employment
with the Participating Employer’s until after the end of the Plan Year in which such termination of employment occurs, then payment shall be made by the end of the Plan Year following the Plan Year of termination of employment. The Class Year
Deferrals shall continue to be credited with adjustments under Section 3.5 through the last business day immediately preceding the payment date. 
  
 Lump Sum Payment In Specified Year. For any Class Year Deferrals payable as a lump in a specified year elected by a Participant,
the Participant shall be paid during the first ninety (90) days of the applicable Plan Year of payment elected by the Participant a single cash payment in an amount equal to the balance of the Class Year Deferrals as of the last business day
immediately preceding the payment date. If the Plan Year of payment is after the date of the Participant’s termination of employment with the Participating Employers, then: 
  

	 	(i)	 	if the Participant terminated employment having satisfied the Rule of 60, the Participant shall continue to be eligible to elect from among the available deemed investment vehicles
pursuant to Section 3.5 through the last business day immediately preceding the payment date; and 

  

	 	(ii)	 	for any other Participant, the Participant shall continue to be eligible to elect from among the available deemed investment vehicles pursuant to Section 3.5 through the end of
the Plan Year in which the Participant terminates employment (or, if applicable, through the end of a subsequent calendar year as determined by the Personnel Group if the Personnel Group is not notified of a Participant’s termination of
employment with the Participating Employer’s until after the end of the Plan Year in which such termination of employment occurs), and thereafter through the last business day immediately preceding the payment date the Class Year Deferrals
shall be deemed invested in Stable Capital Fund (or Stable Asset Fund for a legacy Fleet Associate). 

  
 (f) Timing of Annual Installments. 
  
 Annual Installments Following Termination of Employment. For any Class Year Deferrals payable as annual installments following
termination of employment, the first installment shall be paid within ninety (90) days following the end of the Plan Year in which the Participant terminates employment with the Participating Employers; provided, however, that if the
Personnel Group is not notified of a Participant’s termination of employment with the Participating Employer’s until after the Plan Year in which the termination of employment 

  

 9 

 
occurs, then the first installment shall be paid by the end of the Plan Year following the Plan Year of termination of employment. Each subsequent
installment shall be paid within ninety (90) days following the end of each subsequent Plan Year during the selected payment period. The amount of each installment payment shall equal the balance of the Class Year Deferrals as of the last
business day immediately preceding the applicable payment date divided by the number of remaining installments (including the installment then payable). For a Participant who terminates employment with the Participating Employers having satisfied
the Rule of 60, the Participant shall continue to be eligible to elect from among the available deemed investment vehicles pursuant to Section 3.5 through the last business day immediately preceding the final payment. For any other Participant,
the Participant shall continue to be eligible to elect from among the available deemed investment vehicles pursuant to Section 3.5 through the end of the Plan Year in which the Participant terminates employment (or, if applicable, through the
end of a subsequent calendar month as determined by the Personnel Group if the Personnel Group is not notified of a Participant’s termination of employment with the Participating Employer’s until after the end of the Plan Year in which
such termination of employment occurs), and thereafter until the last business day immediately preceding the final payment the Class Year Deferrals shall be deemed invested in the Stable Capital Fund (or Stable Asset Fund for a legacy Fleet
Associate). 
  
 Annual Installments Commencing
In Specified Year. For any Class Year Deferrals payable as annual installments commencing in a specified year elected by a Participant, the first annual installment shall be payable during the first ninety (90) days of the applicable Plan
Year of commencement elected by the Participant. Each subsequent installment shall be paid within ninety (90) days following the end of each subsequent Plan Year during the selected payment period. The amount of each installment payment shall
equal the balance of the Class Year Deferrals as of last business day immediately preceding the applicable payment date divided by the number of remaining installments (including the installment then payable). If the Participant terminates
employment with the Participating Employers during the installment payment period, then: 
  

	 	(i)	 	if the Participant terminated employment having satisfied the Rule of 60, the Participant shall continue to be eligible to elect from among the available deemed investment vehicles
pursuant to Section 3.5 through the last business day immediately preceding the final payment; and 

  

	 	(ii)	 	for any other Participant, the Participant shall continue to be eligible to elect from among the available deemed investment vehicles pursuant to Section 3.5 through the end of
the Plan Year in which the Participant terminates employment (or, if applicable, through the end of a subsequent calendar year as determined by the Personnel Group if the Personnel Group is not notified of a Participant’s termination of
employment with the Participating Employer’s until after the end of the Plan Year in which such termination of employment occurs), and thereafter until the last business day immediately preceding the final payment the Class Year Deferrals shall
be deemed invested in the Stable Capital Fund (or Stable Asset Fund for a legacy Fleet Associate). 

  
 (g) Death of a Participant. If a Participant dies before having been paid the entire balance of the Participant’s Account (including a
Participant receiving installment payments), the remaining unpaid balance of the Account shall be payable to the Participant’s Beneficiary in a single cash payment within ninety (90) days following the end of the Plan Year in which the
Participant dies; provided, however, that if the Personnel Group is not notified of a Participant’s death until more than ninety (90) days after the end of the Plan Year in which such death occurs, then payment shall be made
within ninety (90) days after the end of the Plan Year in which such notice of death is received by the Personnel Group. The Account shall be deemed invested in the Stable Capital Fund (or Stable Asset Fund for a legacy Fleet Associate) from
the date notice of death is received by the Personnel Group until the last business day immediately preceding the final payment of the Account. 
  
 (h) Withdrawals on Account of an Unforeseeable Emergency. A Participant may, in the Personnel Group’s sole discretion, receive a refund of all
or any part of the amounts previously credited to the Participant’s Accounts in the case of an “unforeseeable emergency.” A Participant requesting a payment pursuant to this Section shall have the burden of proof of establishing, to
the Personnel Group’s satisfaction, the existence of such “unforeseeable emergency,” and the amount of the payment needed to satisfy the same. In that regard, the Participant shall provide the Personnel Group with such financial data
and information as the Personnel Group may request. If the Personnel Group determines that a payment should be made to a Participant under this Section such payment shall be made within a reasonable time after the Personnel Group’s
determination of the existence of such “unforeseeable emergency” and the amount of payment so needed. The Personnel Group may in its discretion establish the order in which amounts shall be withdrawn under this Section from a
Participant’s Accounts. As used herein, the term “unforeseeable emergency” means a severe financial hardship to a Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent of the
Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that shall constitute an
“unforeseeable emergency” shall depend upon the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or 

  

 10 

 
otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial
hardship. Examples of what are not considered to be “unforeseeable emergencies” include the need to send a Participant’s child to college or the purchase of a home. Withdrawals of amounts because of an “unforeseeable
emergency” shall not exceed an amount reasonably needed to satisfy the emergency need. The Personnel Group shall also permit an “unforeseeable emergency” request to be made under this Section 3.8(h) by a Participant’s
Beneficiary following the Participant’s death. 
  
 (i)
Special Provisions for “Specified Employees”. Notwithstanding any provision herein to the contrary, to the extent applicable, in no event shall any payment hereunder be made to a “specified employee” within the meaning of
Code Section 409A earlier than six months after the date of the Participant’s termination of employment with the Participating Employers, except in connection with the Participant’s death. 
  
 Section 3.9 General Payment Provisions. 
  
 (a) Payments for Participants Who Terminated Employment Prior to
2005. Payments to any Participant who terminated employment with the Participating Employers prior to 2005 shall be made in accordance with the provisions of the Restoration Plan as in effect prior to 2005. 
  
 (b) Other Payment Provisions. To be effective, any elections under
Sections 3.7 or 3.8 above shall be made on such form, at such time and pursuant to such procedures as determined by the Personnel Group in its sole discretion from time to time. Any deferral or payment hereunder shall be subject to applicable
payroll and withholding taxes. In the event any amount becomes payable under the provisions of the Restoration Plan to a Participant, Beneficiary or other person who is a minor or an incompetent, whether or not declared incompetent by a court, such
amount may be paid directly to the minor or incompetent person or to such person’s fiduciary (or attorney-in-fact in the case of an incompetent) as the Personnel Group, in its sole discretion, may decide, and the Personnel Group shall not be
liable to any person for any such decision or any payment pursuant thereto. 
  
 Section 3.10 Catch-Up Contributions. Certain Eligible Associates may become eligible under the 401(k) Plan to make “catch-up” contributions (within the meaning of Section 414(v) of the
Code). Any such catch-up contributions made to the 401(k) Plan shall not in any manner affect the determination of the amount of deferrals to the Restoration Plan under Section 3.3. Instead, such catch-up contributions shall be in addition to
the aggregate combined deferrals elected to the 401(k) Plan and Restoration Plan hereunder. 
  
 Section 3.11 Special Provisions Related to Completion Incentives. For an Eligible Associate who receives a Completion Incentive in a Plan Year which relates to one or more prior Plan Years, the following
provisions shall apply: 
  
 (i) The Personnel
Group, upon consultation with the appropriate business unit, shall allocate the Completion Incentive among the applicable Plan Years for which it was deemed earned. 
  
 (ii) Any deferral under Section 3.3 above shall be determined separately with respect to the
Restoration Plan deferral election (if any) in effect for each Plan Year for which the Completion Incentive was deemed earned. The applicable Restoration Plan deferral election in effect for each such Plan Year shall be applied against the portion
of the Completion Incentive allocated to such Plan Year under subparagraph (i) above. Any such portion of the Completion Incentive deferred under the Restoration Plan with respect to a Plan Year shall be part of the Class Year Deferrals for
that Plan Year. 
  
 (iii) Each deferral to the
Restoration Plan with respect to the Completion Incentive determined under subparagraph (ii) above shall be eligible for a matching contribution under the Restoration Plan in accordance with, and subject to, the provisions of Section 3.4
above. Such matching contributions shall be determined separately with respect to each Plan Year for which the Completion Incentive was deemed earned. 
  
 (iv) Although the Completion Incentive may relate to one or more prior Plan Years, the related deferrals and matching contributions to be
made under subparagraphs (ii) and (iii) above shall be credited in an administratively reasonable time following notification to the Personnel Group of the Completion Incentive having been paid without any adjustment for earnings.

  
 Section 3.12 Other Contributions. The
Participating Employers may from time to time, in their sole and exclusive discretion, elect to credit a Participant’s Account with additional amounts not otherwise contemplated by this Article III. 
  

 11 

 ARTICLE IV 
 AMENDMENT AND TERMINATION 
  
 Section 4.1 Amendment and Termination. The Corporation shall have the right and power at any time and from time to time to amend the Restoration Plan in whole or in part, on behalf of all Participating Employers, and at any time
to terminate the Restoration Plan or any Participating Employer’s participation hereunder; provided, however, that no such amendment or termination shall reduce the amount actually credited to the Account(s) of any Participant (or
beneficiary of a deceased Participant) on the date of such amendment or termination, or further defer the due dates for the payment of such amounts, without the consent of the affected person. To the extent permitted by Code Section 409A, in
connection with any termination of the Restoration Plan the Corporation shall have the authority to cause the Accounts of all Participants (and beneficiary of any deceased Participants) to be paid in a single sum payment as of a date determined by
the Corporation or to otherwise accelerate the payment of all Accounts in such manner as the Corporation shall determine in its discretion. 
  
 ARTICLE V 
 MISCELLANEOUS PROVISIONS 

 
 Section 5.1 Nature of Plan and Rights. The Restoration Plan
is unfunded and intended to constitute an incentive and deferred compensation plan for a select group of officers and key management employees of the Participating Employers. If necessary to preserve the above intended plan status, the Committee, in
its sole discretion, reserves the right to limit or reduce the number of actual participants and otherwise to take any remedial or curative action that the Committee deems necessary or advisable. The Accounts established and maintained under the
Restoration Plan by a Participating Employer are for accounting purposes only and shall not be deemed or construed to create a trust fund of any kind or to grant a property interest of any kind to any Associate, designated beneficiary or estate. The
amounts credited by a Participating Employer to such Accounts are and for all purposes shall continue to be a part of the general assets of such Participating Employer, and to the extent that an Associate, beneficiary or estate acquires a right to
receive payments from such Participating Employer pursuant to the Restoration Plan, such right shall be no greater than the right of any unsecured general creditor of such Participating Employer. 
  
 Section 5.2 Termination of Employment. For the purposes of the
Restoration Plan, an Associate’s employment with a Participating Employer shall not be considered to have terminated so long as the Associate is in the employ of any Participating Employer, other member of the Controlled Group or any other
entity as the Personnel Group may designate. 
  
 Section 5.3
Spendthrift Provision. A Participant’s or Beneficiary’s rights and interests under the Plan may not be assigned or transferred by the Participant or Beneficiary. In that regard, no part of any amounts credited or payable hereunder
shall, prior to actual payment, (i) be subject to seizure, attachment, garnishment or sequestration for the payment of debts, judgments, alimony or separate maintenance owed by the Participant or any other person, (ii) be transferable by
operation of law in the event of the Participant’s or any person’s bankruptcy or insolvency or (iii) be transferable to a spouse as a result of a property settlement or otherwise. Notwithstanding the foregoing, the Participating
Employers shall have the right to offset from a Participant’s unpaid benefits under the Restoration Plan any amounts due and owing from the Participant to the extent permitted by law. 
  
 Section 5.4 Employment Noncontractual. The establishment of the
Restoration Plan shall not enlarge or otherwise affect the terms of any Associate’s employment with his Participating Employer, and such Participating Employer may terminate the employment of the Associate as freely and with the same effect as
if the Restoration Plan had not been established. 
  
 Section 5.5 Adoption by Other Participating Employers. The Restoration Plan may be adopted by any Participating Employer participating under the 401(k) Plan, such adoption to be effective as of the date specified by such
Participating Employer at the time of adoption. 
  
 Section 5.6 Applicable Law. The Restoration Plan shall be governed and construed in accordance with the laws of the State of North Carolina, except to the extent such laws are preempted by the laws of the United States of
America. 
  
 Section 5.7 Merged Plans. From time to
time the Participating Employers may cause other nonqualified plans to be merged into the Restoration Plan. Schedule 5.7 attached hereto sets forth the names of the plans that merged into the Restoration Plan by January 1, 2005 and their
respective merger dates. Schedule 5.7 shall be updated from time to time to reflect mergers after January 1, 2005. 
  
 Upon such a merger, the account balance(s) immediately prior to the date of merger of each participant in the merged plan shall be transferred and
credited as of the merger date to one or more accounts established under the 

  

 12 

 
Restoration Plan for such participant, including without limitation a Predecessor Company Account as determined by the Personnel Group. From and after the
merger date, the participant’s rights shall be determined under the Restoration Plan, and the participant shall be subject to all of the restrictions, limitations and other terms and provisions of the Restoration Plan. Not in limitation of the
foregoing, each Restoration Plan Account established for the participant as a result of the merger shall be periodically adjusted when and as provided in Section 3.5 hereof as in effect from time to time and shall be paid at such time and in
such manner as provided in Section 3.7 and Section 3.8 hereof, except to the extent otherwise provided on Schedule 5.7. The Personnel Group shall, in its discretion, establish any procedures it deems necessary or advisable in order to
administer any such plan mergers, including without limitation procedures for transitioning from the method of account adjustments under the prior plan to the methods provided for under the Restoration Plan. The Personnel Group may also establish
any special distribution or other rules with respect to such balances, which such special rules shall be specified on Schedule 5.7. 
  
 Section 5.8 Status Under the Act. The Restoration Plan is maintained for purposes of providing deferred compensation for a select group of
management or highly compensated employees. In addition, to the extent that the Restoration Plan makes up benefits limited under the 401(k) Plan as a result of Section 415 of the Code, the Restoration Plan shall be considered an “excess
benefit plan” within the meaning of the Employee Retirement Income Security Act of 1974, as amended. 
  
 Section 5.9 Compliance With Code Section 409A. The Restoration Plan is intended to comply with Code Section 409A. Notwithstanding
any provision of the Restoration Plan to the contrary, the Restoration Plan shall be interpreted, operated and administered consistent with this intent. 
  
 Section 5.10 Claims Procedure. Any claim for benefits under the Restoration Plan by a Participant or Beneficiary shall be made in accordance
with the claims procedures set forth in the 401(k) Plan. 
  
 [SIGNATURE ON NEXT PAGE] 
  

 13 

 IN WITNESS WHEREOF, this instrument has been executed by the Corporation on December 20, 2005 and
effective as of January 1, 2005. 
  

			
	 BANK OF AMERICA CORPORATION

		
	 By:
	 	 /s/    J. STEELE
ALPHIN        

	 	 	 J. Steele Alphin
 Corporate Personnel Executive

  

 14 

 SCHEDULE 5.7 
  
 MERGED PLANS AS OF JANUARY 1, 2005 
  

			
	 Plan Name

	  	 Date of Merger

	 C&S Policy Committee Supplemental Savings Plan
	  	December 31, 1992
		
	 C&S Key Executive Supplemental Savings Plan
	  	December 31, 1992
		
	 C&S/Sovran Supplemental Retirement Plan for Former Sovran Executives (Thrift Restoration Benefits)
	  	December 31, 1992
		
	 First & Merchants Corporation Deferred Management Incentive Compensation Plan
	  	March 31, 1993
		
	 Sovran Deferred Compensation Plan
	  	 March 31, 1993

		
	 NationsBank of Texas, N.A. Profit Sharing Restoration Plan
	  	 March 31, 1993

		
	 Thrift Plan Reserve Account Maintained Under the NationsBank Corporation and Designated Subsidiaries Supplemental Executive Retirement
Plan
	  	
 March 31, 1993

		
	 Bank South Executive Bonus Deferral Plan
	  	 July 1, 1996

		
	 Boatmen’s Bancshares, Inc. Executive Deferred Compensation Plan
	  	 December 31, 1997

		
	 Fourth Financial Corporation Executive Deferred Compensation Plan
	  	 December 31, 1997

		
	 NationsBank Corporation Key Employee Deferral Plan
	  	 April 1, 1998

		
	 Deferred compensation components of the NationsBank Corporation Executive Incentive Compensation Plan
	  	
 April 1, 1998

		
	 Management Excess Savings Plan of Barnett Banks, Inc. and its Affiliates
	  	 December 31, 1998

		
	 BankAmerica Deferred Compensation Plan
	  	 June 30, 2000

		
	 BankAmerica Supplemental Retirement Plan
	  	 June 30, 2000

  

 15Bank of America 2003 Key Associate Stock Plan

 Exhibit 10(i) 
  
 

 
  
 2003 KEY ASSOCIATE STOCK PLAN
RESTRICTED STOCK UNITS AWARD AGREEMENT 
  

							
	 GRANTED TO

	  	GRANT
DATE

	  	NUMBER OF
RESTRICTED
STOCK UNITS

	  	FAIR MARKET
VALUE PER
SHARE

	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

  
 Note: The number of Restricted
Stock Units is based on a “divisor price” of $00.00, which is the five-day average closing price of Bank of America Corporation common stock for the five business days immediately preceding and including February 15, 2006.

  
 This Restricted Stock Units Award Agreement and all Exhibits
hereto (the “Agreement”) is made between Bank of America Corporation, a Delaware corporation (“Bank of America”), and you, an associate of Bank of America or one of its Subsidiaries. 
  
 Bank of America sponsors the Bank of America Corporation 2003 Key Associate
Stock Plan (the “Stock Plan”). A Prospectus describing the Stock Plan has been delivered to you. The Stock Plan itself is available upon request, and its terms and provisions are incorporated herein by reference. When used herein, the
terms which are defined in the Stock Plan shall have the meanings given to them in the Stock Plan, as modified herein (if applicable). 
  
 The Restricted Stock Units covered by this Agreement are being awarded to you in connection with your participation in the Bank of America Corporation
Executive Incentive Compensation Plan, subject to the following terms and provisions: 
  

	1.	 	Subject to the terms and conditions of the Stock Plan and this Agreement, Bank of America awards to you the number of Restricted Stock Units shown above. Each Restricted Stock Unit
shall have a value equal to the Fair Market Value of one (1) share of Bank of America common stock. 

  

	2.	 	You acknowledge having read the Prospectus and agree to be bound by all the terms and conditions of the Stock Plan and this Agreement. 

  

	3.	 	If a cash dividend is paid with respect to Bank of America common stock, you shall be paid in cash, at the same time as cash dividends on actual shares of Bank of America common
stock are paid, an amount equal to the total cash dividend you would have received had your Restricted Stock Units been actual shares of Bank of America common stock. 

  

	4.	 	The Restricted Stock Units covered by this Award shall become earned by, and payable to, you in the amounts and on the dates shown on the enclosed Exhibit A.

  

	5.	 	You agree that you shall comply with (or provide adequate assurance as to future compliance with) all applicable securities laws and income tax laws as determined by Bank of America
as a condition precedent to the delivery of any shares of Bank of America common stock pursuant to this Agreement. In addition, you agree that, upon request, you will furnish a letter agreement providing that (i) you will not distribute or
resell any of said shares in violation of the Securities Act of 1933, as amended, (ii) you will indemnify and hold Bank of America harmless against all liability for any such violation and (iii) you will accept all liability for any such
violation. 

  

	6.	 	By executing and returning a Beneficiary Designation Form, you may designate a beneficiary to receive payment in connection with the Restricted Stock Units awarded hereunder in the
event of your death while in service with Bank of America. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. A Beneficiary Designation Form has been included in
your Award package and may also be obtained by contacting Executive Compensation as described in the Prospectus. 

  

	7.	 	 The existence of this Award shall not affect in any way the right or power of Bank of America or its stockholders to make or authorize any or all adjustments,
recapitalizations, reorganizations or other changes in Bank of America’s capital structure or its business, or any merger or consolidation of Bank of America, or any issue of bonds, 

  

 1 

	 	 
debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Bank of America common stock or the rights thereof,
or the dissolution or liquidation of Bank of America, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

  

	8.	 	Bank of America may, in its sole discretion, decide to deliver any documents related to this grant or future Awards that may be granted under the Stock Plan by electronic means or
request your consent to participate in the Stock Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, agree to participate in the Stock Plan through an on-line or electronic system
established and maintained by Bank of America or another third party designated by Bank of America. 

  
 Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice
mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your
electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. 
  

	9.	 	Regardless of any action Bank of America or your employer takes with respect to any or all income tax, payroll tax or other tax-related withholding (“Tax-Related Items”),
you acknowledge that the ultimate liability for all Tax-Related Items owed by you is and remains your responsibility and that Bank of America and/or your employer (i) make no representations or undertakings regarding the treatment of any
Tax-Related Items in connection with any aspect of the grant of Restricted Stock Units, including the grant and vesting the Restricted Stock Units, the subsequent sale of Shares acquired upon the vesting of the Restricted Stock Units and the receipt
of any dividends; and (ii) do not commit to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate your liability for Tax-Related Items. 

  

	    	 	In the event Bank of America determines that it and/or your employer must withhold any Tax-Related Items as a result of your participation in the Stock Plan, you agree as a
condition of the grant of the Restricted Stock Units to make arrangements satisfactory to Bank of America and/or your employer to enable it to satisfy all withholding requirements, including, but not limited to, withholding any applicable
Tax-Related Items from the pay-out of the Restricted Stock Units. In addition, you authorize Bank of America and/or your employer to fulfill its withholding obligations by all legal means, including, but not limited to: withholding Tax-Related Items
from your wages, salary or other cash compensation your employer pays to you; withholding Tax-Related Items from the cash proceeds, if any, received upon sale of any Shares received in payment for your Restricted Stock Units; and at the time of
payment, withholding Shares sufficient to meet minimum withholding obligations for Tax-Related Items. Bank of America may refuse to issue and deliver Shares in payment of any earned Restricted Stock Units if you fail to comply with any withholding
obligation. 

  

	10.	 	The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States, as provided in the
Stock Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North
Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be
performed, and no other courts. 

  

	11.	 	In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and
the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding the Restricted Stock Units. Any prior
agreements, commitments or negotiations concerning the Restricted Stock Units are superseded. Subject to the terms of the Stock Plan, this Agreement may only be amended by a written instrument signed by both parties. 

  
 IN WITNESS WHEREOF, Bank of America has caused this Agreement to be executed
by its duly authorized officer effective as of the Grant Date listed above. 
  

			
	BANK OF AMERICA CORPORATION
		
	By:	 	 

	 	 	Chairman, Chief Executive Officer and President

  

 2 

 Exhibit A 
  

Bank of America Corporation 
 2003
Key Associate Stock Plan 
  
 PAYMENT
OF RESTRICTED STOCK UNITS 
  
 (a) PAYMENT SCHEDULE. Subject to the provisions of paragraph (b) below, the Restricted Stock Units shall become earned and payable on February 15, 2009 if
you remain employed with Bank of America and its Subsidiaries through that date. Shares will be issued as soon as administratively practicable, generally within 15 days after the payment date. 
  
 (b) TERMINATION OF EMPLOYMENT
PRIOR TO PAYMENT. If your employment with Bank of America and its Subsidiaries terminates prior to the above payment date, then any unearned Restricted Stock Units shall become earned
and payable or be forfeited depending on the reason for termination as follows: 
  

	 	(i)	 	Death, Disability, or Termination by Bank of America due to Workforce Reduction or Divestiture. Any unearned Restricted Stock Units shall become immediately earned and
payable as of the date of your termination of employment if your termination is due to (A) death, (B) Disability, (C) Workforce Reduction or (D) Divestiture. (Shares will be issued as soon as administratively practicable,
generally within 30 days after notification of termination from the payroll system.) 

  

	 	(ii)	 	Termination by Bank of America Without Cause. If your employment is terminated by your employer without Cause (not including Workforce Reduction or Divestiture), then any
unearned Restricted Stock Units shall become immediately earned and payable as of such date. (Shares will be issued as soon as administratively practicable, generally within 30 days after notification of termination from the payroll system.)

  

	 	(iii)	 	Termination by Bank of America With Cause. If your employment is terminated by your employer with Cause, then any unearned Restricted Stock Units shall be immediately
forfeited as of your employment termination date. 

  

	 	(iv)	 	Termination by You. If you voluntarily terminate your employment prior to attaining the Rule of 60, then any unearned Restricted Stock Units shall be immediately forfeited as
of your employment termination date. 

  

	 	(v)	 	Rule of 60. If you voluntarily terminate your employment having attained the Rule of 60, then any unearned Restricted Stock Units shall continue to become earned and payable
in accordance with the schedule set forth in paragraph (a) above, provided that (A) you do not engage in Competition during such period and (B) prior to each of February 15, 2007, February 15, 2008, and
February 15, 2009, you provide Bank of America with a written certification that you have not engaged in Competition. To be effective, such certification must be provided on such form, at such time and pursuant to such procedures as Bank of
America shall establish from time to time. If Bank of America determines in its reasonable business judgment that you have failed to satisfy either of the foregoing requirements, then any unearned Restricted Stock Units shall be immediately
forfeited as of the date of such determination. In addition, from time to time following your termination of employment after having attained the Rule of 60, Bank of America may require you to further certify that you are not engaging in
Competition, and if you fail to fully cooperate with any such requirement Bank of America may determine that you are engaging in Competition. 

  

	 	(vi)	 	6-Month Payment Delay. Notwithstanding the foregoing, the issuance of any Shares in payment of Restricted Stock Units that have become earned and payable upon your
termination of employment shall be delayed until six (6) months following the date of your termination of employment if and to the extent required by Section 409A of the Code. 

  
 (c) FORM OF
PAYMENT. Payment of Restricted Stock Units shall be payable in the form of one share of common stock for each Restricted Stock Unit that is payable. 
  
 (d) DEFINITIONS. For purposes hereof, the following terms shall have the following
meanings: 
  
 Cause shall be defined as
that term is defined in your offer letter or other applicable employment agreement; or, if there is no such definition, “Cause” means a termination of your employment with Bank of America and its Subsidiaries if it occurs in conjunction
with a determination by your employer that you have (i) committed an act of fraud or dishonesty in the course of your employment; (ii) been convicted of (or plead no contest with respect to) a crime constituting a felony; (iii) failed
to perform your job function(s), which Bank of America views as being material to your position and the overall business of Bank of America and its Subsidiaries under circumstances where such failure is detrimental to Bank of America or any
Subsidiary; (iv) materially breached any written policy applicable to associates of Bank of America and its Subsidiaries including, but not limited to, the Bank of America 

  

 3 

 
Corporation Code of Ethics and General Policy on Insider Trading; or (v) made an unauthorized disclosure of any confidential or proprietary information
of Bank of America or its Subsidiaries or have committed any other material violation of Bank of America’s written policy regarding Confidential and Proprietary Information. 
  
 Competition means your being engaged, directly or indirectly, whether as a director, officer,
employee, consultant, agent, or otherwise, with a business entity that is designated as a “Competitive Business” as of the date of your termination of employment. Bank of America shall communicate such list to you. 
  
 Divestiture means a termination of your employment
with Bank of America and its Subsidiaries as the result of a divestiture or sale of a business unit as determined by your employer based on the personnel records of Bank of America and its Subsidiaries. 
  
 Rule of 60 means, as of the date of your termination
of employment with Bank of America and its Subsidiaries, you have (i) completed at least ten (10) years of “Vesting Service” under the tax-qualified Pension Plan sponsored by Bank of America in which you participate and
(ii) attained a combined age and years of “Vesting Service” equal to at least sixty (60). 
  
 Workforce Reduction means your termination of employment with Bank of America and its Subsidiaries as a result of a labor force
reduction, realignment or similar measure as determined by the your employer and (i) you receive severance pay under the Corporate Severance Program (or any successor program) upon termination of employment, or (ii) if not eligible to
receive such severance pay, you are notified in writing by an authorized officer of Bank of America or any Subsidiary that the termination is as a result of such action. Your termination of employment shall not be considered due to Workforce
Reduction unless you have first executed all documents required under the Corporate Severance Program or otherwise, including without limitation any required release of claims. 
  

 4 

 

 
  
 2003 KEY ASSOCIATE STOCK PLAN

 STOCK OPTION AWARD AGREEMENT 
  

									
	 GRANTED TO

	  	GRANT
DATE

	  	EXPIRATION
DATE

	  	NUMBER
OF
SHARES

	  	OPTION
PRICE
PER
SHARE

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  
 This Stock Option
Award Agreement and all Exhibits hereto (the “Agreement”) is made between Bank of America Corporation, a Delaware corporation (“Bank of America”), and you, an associate of Bank of America or one of its Subsidiaries. 

 
 Bank of America sponsors the Bank of America Corporation 2003 Key
Associate Stock Plan (the “Stock Plan”). A Prospectus describing the Stock Plan has been delivered to you. The Stock Plan itself is available upon request, and its terms and provisions are incorporated herein by reference. When used
herein, the terms which are defined in the Stock Plan shall have the meanings given to them in the Stock Plan, as modified herein (if applicable). 
  
 You and Bank of America mutually covenant and agree as follows: 
  

	1.	 	Subject to the terms and conditions of the Stock Plan and this Agreement, Bank of America grants to you the option (the “Option”) to purchase from Bank of America the
above-stated number of Shares of Bank of America Common Stock at the Option Price per share stated above. This Option is not intended to be an Incentive Stock Option. You acknowledge having read the Prospectus and agree to be bound by all of the
terms and conditions of the Stock Plan and this Agreement. 

  

	2.	 	This Option vests and is exercisable by you as described on Exhibit A attached hereto and incorporated herein by reference. The manner of exercising the Option and the method for
paying the applicable Option Price shall be as set forth in the Stock Plan. Any applicable withholding taxes must also be paid by you in accordance with the Stock Plan. Shares issued upon exercise of the Option shall be issued solely in your name.
The right to purchase Shares pursuant to the Option shall be cumulative so that when the right to purchase additional Shares has vested pursuant to the schedule on Exhibit A, such Shares or any part thereof may be purchased thereafter until the
expiration of the Option. 

  

	3.	 	In the event of your termination of employment with Bank of America and its Subsidiaries and subject to the provisions of this paragraph 3 and Exhibit A, this Option shall expire on
the earlier of the Expiration Date stated above or the following cancellation date depending on the reason for termination: 

  

			
	 Reason for Termination

	  	Cancellation Date

	 Death or Disability
	  	12 months from termination date
		
	 Workforce Reduction or Divestiture
	  	12 months from termination date
		
	 Cause
	  	termination date
		
	 Rule of 60
	  	Expiration Date (as stated above)*
		
	 All Other Terminations
	  	90 days from termination date

	*	 	Note: Subject to compliance with the Rule of 60 vesting conditions set forth on Exhibit A. 

  
 The reasons for termination are as defined on Exhibit A. For purposes of this Agreement, your employment termination date
will be determined by Bank of America based on the personnel records of Bank of America and its Subsidiaries and will be prior to your commencement of any period of severance pay, if applicable. 
  

	4.	 	The Option may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. If the Option is
exercisable following your death, the Option shall be exercisable by such person empowered to do so under your will, or if you fail to make a testamentary disposition of the Option or shall have died intestate, by your executor or other legal
representative. 

  

 5 

	5.	 	“Net Profit Shares” (as defined below) acquired upon exercise of the Option must be held by you until the earlier of (i) the third anniversary of the exercise date or
(ii) the date of your termination of employment with Bank of America and its Subsidiaries (other than termination of employment for “Cause,” as defined in Exhibit A). Any attempt to sell, transfer, pledge, assign or otherwise alienate
or hypothecate Net Profit Shares prior to completion of such period shall be null and void. For purposes hereof, “Net Profit Shares” means the aggregate number of Shares with respect to which the Option is exercised minus Shares having an
aggregate Fair Market Value as of the exercise date equal to the sum of (x) the aggregate Option Price with respect to the exercise and (y) the amount of all applicable taxes with respect to the exercise, assuming your maximum applicable
federal, state and local tax rates for such purpose. 

  

	6.	 	If your employment with Bank of America and its Subsidiaries is terminated for Cause, any Net Profit Shares held by you on the date of termination that have not yet become
transferable in accordance with paragraph 5 above shall be immediately forfeited. In that case, (i) your right to vote and to receive cash dividends on, and all other rights, title or interest in, to or with respect to, such forfeited Net
Profit Shares shall automatically, without further act, terminate and (ii) such forfeited Net Profit Shares shall be returned to Bank of America. You hereby irrevocably appoint (which appointment is coupled with an interest) Bank of America as
your agent and attorney-in-fact to take any necessary or appropriate action to cause such forfeited Net Profit Shares to be returned to Bank of America, including without limitation executing and delivering stock powers and instruments of transfer,
making endorsements and/or making, initiating or issuing instructions or entitlement orders, all in your name and on your behalf. You hereby ratify and approve all acts done by Bank of America as such attorney-in-fact. Without limiting the
foregoing, you expressly acknowledge and agree that any transfer agent for such forfeited Net Profit Shares is fully authorized and protected in relying on, and shall incur no liability in acting on, any documents, instruments, endorsements,
instructions, orders or communications from Bank of America in connection with such forfeited Net Profit Shares or the transfer thereof, and that any such transfer agent is a third party beneficiary of this Agreement. 

  

	7.	 	You acknowledge that, as of the Grant Date of this Award, Fidelity Brokerage Services LLC, National Financial Services LLC and their affiliated companies (collectively,
“Fidelity”) have been engaged by Bank of America to provide recordkeeping, administrative and brokerage services to participants in the Stock Plan. In that regard, so long as Fidelity remains engaged by Bank of America to provide those
services, the Net Profit Shares shall be held in a brokerage account administered by Fidelity during the period of non-transferability described in paragraph 5 above. BY ENTERING INTO THIS AGREEMENT, YOU ARE ALSO HEREBY ENTERING INTO THE
INSTRUCTION LETTER WITH FIDELITY IN THE FORM ATTACHED HERETO AS EXHIBIT B, pursuant to which you authorize Fidelity to follow any duly authorized instructions of Bank of America regarding the forfeiture of Net Profit Shares in
accordance with paragraph 6 above. Fidelity shall be a third party beneficiary of this Agreement for purposes of relying on the provisions of this paragraph 7. 

  

	8.	 	You agree that, upon request, you will furnish a letter agreement providing (i) that you will not distribute or resell in violation of the Securities Act of 1933, as amended,
any of the Shares acquired upon your exercise of the Option, (ii) that you indemnify and hold Bank of America harmless against all liability for any such violation and (iii) that you will accept all liability for any such violation.

  

	9.	 	The existence of this Option shall not affect in any way the right or power of Bank of America or its stockholders to make or authorize any or all adjustments, recapitalizations,
reorganizations or other changes in Bank of America’s capital structure or its business, or any merger or consolidation of Bank of America, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or
otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of Bank of America, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar
character or otherwise. 

  

	10.	 	Bank of America may, in its sole discretion, decide to deliver any documents related to this Option grant or future Awards that may be granted under the Stock Plan by electronic
means or request your consent to participate in the Stock Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, agree to participate in the Stock Plan through an on-line or electronic system
established and maintained by Bank of America or another third party designated by Bank of America. 

  
 Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice
mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your
electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. 
  

	11.	 	 Regardless of any action Bank of America or your employer takes with respect to any or all income tax, payroll tax or other tax-related withholding
(“Tax-Related Items”), you acknowledge that the ultimate liability for all 

  

 6 

	 	 
Tax-Related Items owed by you is and remains your responsibility and that Bank of America and/or your employer (i) make no representations or
undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Option grant, including the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt
of any dividends; and (ii) do not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate your liability for Tax-Related Items. 

  

	    	 	Prior to exercise of the Option, you shall pay or make adequate arrangements satisfactory to Bank of America and/or your employer to satisfy all withholding obligations of Bank of
America and/or your employer. In this regard, you authorize Bank of America and/or your employer to withhold all applicable Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by Bank of America and/or
your employer or from proceeds of the sale of the Shares. Alternatively, or in addition, to the extent permissible under applicable law, Bank of America may (i) sell or arrange for the sale of Shares that you acquire to meet the withholding
obligation for Tax-Related Items, and/or (ii) withhold in Shares, provided that Bank of America only withholds the amount of Shares necessary to satisfy the minimum withholding amount. Finally, you shall pay to Bank of America or your employer
any amount of Tax-Related Items that Bank of America or your employer may be required to withhold as a result of your participation in the Stock Plan or your purchase of Shares that cannot be satisfied by the means previously described. Bank of
America may refuse to honor the exercise and refuse to deliver the Shares if you fail to comply with your obligations in connection with the Tax-Related Items as described in this paragraph 11. 

  

	12.	 	The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States, as provided in the
Stock Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North
Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be
performed, and no other courts. 

  

	13.	 	In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and
the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding the Option. Any prior agreements, commitments or
negotiations concerning the Option are superseded. Subject to the terms of the Stock Plan, this Agreement may only be amended by a written instrument signed by both parties. 

  
 IN WITNESS WHEREOF, Bank of America has caused this Agreement to be executed by its duly authorized officer, and you have
hereunto set your hand, all effective as of the Grant Date listed above. 
  

									
	 BANK OF AMERICA CORPORATION
	 	 	 	 ASSOCIATE

				
	 By:
	 	 	 	 	 	

	 	 

	 	 	 	 	 	 
	Chairman, Chief Executive Officer and President	 	 	 	 	 	 

  

 7 

 Exhibit A 
  

Bank of America Corporation 
 2003
Key Associate Stock Plan 
  
 VESTING
OF STOCK OPTION AWARD 
  
 (a) VESTING SCHEDULE. Subject to the provisions of paragraph (b) below, the Option shall vest and become exercisable on February 15, 2009 (i.e., the third
anniversary of the Grant Date) if you remain employed with Bank of America and its Subsidiaries through that date. 
  
 (b) EFFECT OF TERMINATION OF EMPLOYMENT ON
VESTING. The termination of your employment with Bank of America and its Subsidiaries before the vesting date in paragraph (a) above shall affect the vesting of the Option depending on the reason for
termination as follows: 
  
 Death, Disability,
Workforce Reduction or Divestiture: To the extent the Option was not already vested pursuant to paragraph (a) above, the Option shall become fully (100%) vested as of the date of your death, Disability, or termination of employment due
to Workforce Reduction or Divestiture. If you satisfied the Rule of 60 as of the date of your termination of employment due to your death or Disability, then notwithstanding the provisions of paragraph 3 of the Agreement to the contrary, the Option
will remain exercisable until the Expiration Date of the Option. 
  
 Cause: The Option shall immediately terminate and be forfeited as of the date of termination of employment, even if it had previously vested to any extent pursuant paragraph (a) above prior to termination
of employment. 
  
 Rule of 60: If your
employment terminates for any reason other than death, Disability or Cause after you have attained the Rule of 60, then, after applying the vesting rules applicable to termination due to Workforce Reduction or Divestiture as set forth above in this
paragraph (b) (if applicable), any unvested Options shall continue to become vested and exercisable in accordance with the schedule set forth in paragraph (a) above, provided that (A) you do not engage in Competition during such
period and (B) prior to each of February 15, 2007, February 15, 2008 and February 15, 2009, you provide Bank of America with a written certification that you have not engaged in Competition. To be effective, such
certification must be provided on such form, at such time and pursuant to such procedures as Bank of America shall establish from time to time. If Bank of America determines in its reasonable business judgment that you have failed to satisfy either
of the foregoing requirements, then: 
  

	 	(A)	 	any unvested Options shall be immediately forfeited as of the date of such determination; and 

  

	 	(B)	 	any vested Options shall cease to be exercisable as of the later of (i) the date of such determination or (ii) the applicable Cancellation Date under paragraph 3 of the
Agreement that would have applied if you had not attained the Rule of 60. 

  
 In addition, from time to time following your termination of employment after having attained the Rule of 60, Bank of America may require
you to further certify that you are not engaging in Competition, and if you fail to fully cooperate with any such requirement Bank of America may determine that you are engaging in Competition. 
  
 All Other Terminations: Any portion of the Option
that was not already vested pursuant to paragraph (a) above as of the date of termination of employment shall terminate and be forfeited as of such date. 
  

The Option, to the extent vested as provided by this paragraph (b), shall remain exercisable following termination of employment pursuant to the provisions of
paragraph 3 of the Agreement. 
  
 (c) DEFINED
TERMS. For purposes of this Exhibit A and the Agreement, the following terms shall have the following meanings: 
  
 All Other Terminations means any termination of your employment with Bank of America and its Subsidiaries prior to your having
attained the Rule of 60, whether initiated by you or your employer, other than a termination due to your death or Disability and other than a termination which constitutes Workforce Reduction, Divestiture or Cause. 
  
 Cause shall be defined as that term is defined in
your offer letter or other applicable employment agreement; or, if there is no such definition, “Cause” means a termination of your employment with Bank of America and its Subsidiaries if it occurs in conjunction with a determination by
your employer that you have (i) committed an act of fraud or dishonesty in the course of your employment; (ii) been convicted of (or plead no contest with respect to) a crime constituting a felony; (iii) failed to perform your job
function(s), which Bank of America views as being material to your position and the overall business of Bank of America and its Subsidiaries under circumstances 

  

 8 

 
where such failure is detrimental to Bank of America or any Subsidiary; (iv) materially breached any written policy applicable to associates of Bank of
America and its Subsidiaries including, but not limited to, the Bank of America Corporation Code of Ethics and General Policy on Insider Trading; or (v) made an unauthorized disclosure of any confidential or proprietary information of Bank of
America or its Subsidiaries or have committed any other material violation of Bank of America’s written policy regarding Confidential and Proprietary Information. 
  
 Competition means your being engaged, directly or indirectly, whether as a director, officer,
employee, consultant, agent, or otherwise, with a business entity that is designated as a “Competitive Business” as of the date of your termination of employment. Bank of America shall communicate such list to you. 
  
 Disability is as defined in the Stock Plan.

  
 Divestiture means a termination of
your employment with Bank of America and its Subsidiaries as the result of a divestiture or sale of a business unit as determined by your employer based on the personnel records of Bank of America and its Subsidiaries. 
  
 Rule of 60 means, as of the date of your termination
of employment with Bank of America and its Subsidiaries, you have (i) completed at least ten (10) years of “Vesting Service” under the tax-qualified Pension Plan sponsored by Bank of America in which you participate and
(ii) attained a combined age and years of “Vesting Service” equal to at least sixty (60). 
  
 Workforce Reduction means your termination of employment with Bank of America and its Subsidiaries as a result of a labor force
reduction, realignment or similar measure as determined by your employer and (i) you receive severance pay under the Corporate Severance Program (or any successor program) upon termination of employment, or (ii) if not eligible to receive
such severance pay, you are notified in writing by an authorized officer of Bank of America or any Subsidiary that the termination is as a result of such action. Your termination of employment shall not be considered due to Workforce Reduction
unless you have first executed all documents required under the Corporate Severance Program or otherwise, including without limitation any required release of claims. 
  

 9

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