Document:

EX-10.1

 Exhibit 10.1 

[SunTrust Banks, Inc. Letterhead] 

●, 2019 
 [Name]  

At the address on file with the Company 
 Dear ●,

 You are a valued enterprise executive, and we hope you will play a key role in the integration of SunTrust Banks, Inc.
(“SunTrust”) and BB&T Corporation (“BB&T”) following the merger provided for by the Agreement and Plan of Merger, dated as of February 7, 2019 (the “Merger”). This letter confirms our
discussions regarding your ongoing role following the Merger and the changes we have agreed to with respect to your existing arrangements in support of your role. 

Your Role During the Integration 
 On the
closing of the Merger, you will have the title, position and principal work location with the combined SunTrust and BB&T (the “Combined Company”) set forth on the attached Annex (your “Integration Role and
Location”). 
 Your Pay to Lead and Pay to Integrate Awards 

We are separately communicating to you the amount and terms of your Pay to Lead and Pay to Integrate incentive awards. These awards have been
designed in light of your Integration Role and Location and eligibility for the awards is subject to your agreement to be bound by this letter. 

Protection During the Integration Period and Right to Reevaluate “Good Reason” 

The integration period is scheduled to end on October 1, 2021 (the “Extension Date”). 

If your employment is terminated by the Combined Company without “Cause” (as defined in the SunTrust Banks, Inc. Executive Severance
Pay Plan, as amended and restated as of January 1, 2019 (the “Executive Severance Plan”)) during the period from the date of consummation of the Merger and through the sixtieth (60th) day after the Extension Date, you will
receive your Change in Control Termination entitlements under the Executive Severance Plan, calculated under the terms of the Executive Severance Plan based on the greater of (a) your base salary and target bonus percentage in effect
immediately before the Merger and (b) your base salary and target bonus percentage in effect on your termination date (your “Enhanced Entitlements”). In the event of your death prior to the Extension Date, your Enhanced
Entitlements will be paid in a lump sum to your estate, sixty (60) days after the date of your death. 

 In addition, if you remain employed with the Combined Company through the Extension Date,
you will have thirty (30) days immediately following the Extension Date to determine whether, based upon your position, duties, authority and principal work location as of the Extension Date, as compared to your position, duties, authority and
principal work location as of immediately prior to the date of the closing of the Merger, to resign your employment (a) for “Good Reason” under the Executive Severance Plan and (b) for “Good Reason” under your
outstanding SunTrust equity or equity-based incentive awards. For this purpose, your benefits under the Executive Severance Plan if you have Good Reason will be your Enhanced Entitlements and any applicable Good Reason cure period will be limited to
thirty (30) days. 
 You agree that, until the Extension Date, you waive any right you may have to terminate your employment
(a) for “Good Reason” under the Executive Severance Plan or (b) for “Good Reason” under any outstanding SunTrust equity or equity-based incentive award granted to you (including, but not limited to, restricted stock
units, performance share units, stock options or phantom shares), in each case, as a result of your transition to your Integration Role and Location (or, with respect to your title and position, the assignment to you of the duties, responsibilities
and authority associated therewith, or any substantially similar title and position). 
 Your rights to your Enhanced Entitlements and with
respect to Good Reason following the Extension Date under this Agreement will be administered and construed consistent with the terms and claims procedures of the Executive Severance Plan (after giving effect to the “Legal Fees” paragraph
below) as if such terms were set forth therein. 
 Legal Fees 

In the event any claim, contest or dispute arises between you and the Combined Company regarding the characterization of your termination as it
affects your right to benefits under (a) this letter or (b) the Executive Severance Plan, upon a termination of employment prior to the thirtieth (30th) day after the Extension Date,
whether instituted by formal legal proceedings or otherwise, the Combined Company shall reimburse you for all reasonable costs and expenses, including reasonable attorneys’ fees, arising from any such claim, contest or dispute, if you prevail
in any action initiated by you or you have acted reasonably and in good faith in defending against any action initiated by the Combined Company (notwithstanding Section 9 of the Arbitration Agreement). Such reimbursement shall be paid within
ten (10) days after you furnish the Combined Company with written evidence of any costs and expenses you have incurred. All reimbursements provided under this letter will be made or provided in accordance with the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended. 
 Effectiveness 

This letter agreement will become effective on the closing of the Merger. If your employment terminates for any reason before the closing of
the Merger or the Merger is abandoned, this letter will automatically terminate and be of no further force or effect and neither of us will have any obligations under it. 

Interpretation 
 Except as specifically
provided for in this letter, your and our rights under the Executive Severance Plan and outstanding SunTrust equity or equity-based incentive awards will remain in full force and effect. 

 This letter may not be amended or modified otherwise than by a written agreement executed by
the parties hereto or their respective successors and legal representatives. This letter is not intended to create a contract of employment and you acknowledge that your employment will continue to be “at will.” 

*                    *   
                 * 
 We appreciate your efforts leading
up to the Merger and look forward to your continued contribution. 
  

			
	Sincerely,
	
	SUNTRUST BANKS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 I agree with and accept the terms and conditions of this letter: 

 

	
	  

	Name:
	Date:

 ANNEX 

Name: 
 Title: 

Primary Work Location: 
 Reporting
Relationship(s):EX-10.2

 Exhibit 10.2 
  

					
	

	 		 	

 Pay to Lead 

RETENTION AGREEMENT 
 Name: 

Employee Number: 
 As you know, it was announced
on February 7, 2019 that SunTrust and BB&T will merge (the “Merger”). 
 SunTrust is implementing a retention
program to ensure that we build a premier financial institution. You are a valued employee and SunTrust and BB&T believe your service with the merged company (the “Combined Company”) is essential to our success. Recognizing the
talents and experience you bring to the Combined Company, we are pleased to offer you participation in the retention program, as described below. 

Retention Award Terms 
 Under the
retention program, you will be eligible to receive the Retention Award at the end of the Retention Period as follows: 
  

	 	•	 	 “Retention Award” means an award of restricted stock units (“RSUs”), with a
grant date fair value equal to $[●] (with the actual number of shares of SunTrust common stock subject to such RSU awards to be determined based on the closing price of SunTrust common stock on the date of grant, which is expected to occur on
April 23, 2019). The RSUs will be subject to adjustment on the closing of the Merger to reflect the transaction on the same basis as other SunTrust time-vested restricted stock unit awards. The Retention Award will be subject to all applicable
taxes. 

  

	 	•	 	 “Retention Period” means the period from April 23, 2019 through October 1, 2022.

 Eligibility Requirements and Conditions for Retention Award 

To be eligible to receive the Retention Award: 
  

	 	•	 	 You must remain employed with the Combined Company through the end of the Retention Period.

  

	 	•	 	 You must sign this Agreement, the accompanying Executive Severance Plan letter agreement and the Pay to
Integrate/Produce Retention Agreement by [●] and the Pay to Lead RSU award agreement as soon as practicable following the date of grant, and you must abide by their terms. 

 

	 	•	 	 You must sign the attached Arbitration Agreement by [●], although nothing contained in the Arbitration
Agreement shall interfere with the claims procedures provided under any plans containing such provisions or required by applicable law. 

					
	

	 		 	

  

 To receive the Retention Award, you must remain employed with the Combined Company through
October 1, 2022. If you terminate for any reason prior to October 1, 2022, the Retention Award will be forfeited in its entirety, notwithstanding anything to the contrary in the SunTrust incentive plan under which such award is granted or
any severance plan in which you are eligible to participate. If your employment is terminated during the Retention Period, you will be eligible for severance pursuant to the terms and conditions of the severance plan applicable to you as of your
date of termination. For this purpose, the Change in Control termination benefits under Article V of the SunTrust Executive Severance Pay Plan (the “Executive Severance Plan”) will apply if you experience a “Change in Control
Termination” (as defined in the Executive Severance Plan) within two (2) years following the date of the closing of the Merger. 

Additional terms and conditions relevant to the Retention Award are set forth in the forthcoming RSU Agreement and are considered part of this
letter. 
 Questions 
 If you
have questions or concerns about the terms of the Retention Award, please contact [●] at [●]. 
 We thank you again for your
service and look forward to your continued contributions to SunTrust’s and the Combined Company’s success. 
 IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed and effective on the day and year first above written. 
  

					
	  SunTrust Banks, Inc.	 		 	  Employee
			
	  
   Signature
	 		 	  

  Signature

			
	   Bill Rogers

  Printed Name
	 		 	  
   Printed
Name

			
	   Chairman and CEO

  Title
	 		 	  
   Date

			
	    

  Date

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