Document:

Letter Agreement, dated as of April 22, 2011

 Exhibit 10.33 
 Confidential Treatment Requested 
 Chrysler Group LLC

 1000 Chrysler Drive 
 Auburn Hills, Michigan 48326 
 April 20, 2011 

The United States Department of the Treasury 

1500 Pennsylvania Avenue, NW 
 Washington, D.C.
20220 
 Ladies and Gentlemen: 
 Reference is hereby made to (i) the First Lien Credit Agreement, dated as of June 10, 2009 (as amended, supplemented and modified from time to time, the “Credit Agreement”),
among Chrysler Group LLC (“Chrysler”) and the United States Department of the Treasury (the “Treasury”), and (ii) the letter agreement, dated as of the date hereof, among Chrysler, the UAW Retiree Medical
Benefits Trust, the VEBA Holdcos (as defined therein), Fiat North America LLC (“Fiat”), the Treasury and Canada CH Investment Corporation (the “Transaction Letter Agreement”). The parties hereto intend this letter
agreement to record their agreement with respect to certain obligations that would survive the termination of the Credit Agreement. The parties hereto are entering into this letter agreement in order to facilitate certain refinancing transactions,
which include, without limitation, the repayment of the Obligations under the Credit Agreement and the termination of all Commitments under the Credit Agreement. Capitalized terms used in this letter agreement and not defined herein are defined in
the attached Annex. 
 In accordance with the Transaction Letter Agreement, Chrysler intends to refinance its outstanding
debt and, following the Effective Date, Fiat intends, pursuant to the Master Transaction Agreement, dated as of April 30, 2009 (as amended, the “MTA”), and Chrysler’s LLC Operating Agreement, dated as of June 10, 2009
(as amended, the “LLC Operating Agreement”), to exercise the Incremental Equity Call Option (as defined in the LLC Operating Agreement). Under the terms of the MTA and the LLC Operating Agreement, the exercise of the Incremental
Equity Call Option in full would result in Fiat becoming the holder of a majority of the outstanding membership interests of Chrysler following the occurrence of the remaining Class B Event described in the LLC Operating Agreement. 

THEREFORE, in consideration of the promises and covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged by the parties, Chrysler and the Treasury agree as follows: 

ARTICLE I CONTINUATION AS AN EXCEPTIONAL TARP RECIPIENT 

1.1 Continuation as an Exceptional TARP Recipient. During the period from the Effective Date through the date on which the
Treasury has sold or transferred all of the 

 
Subject Shares (the “TARP Restricted Period”), Chrysler hereby agrees to, and to cause each of its Subsidiaries to, continue to comply in all respects with the requirements of
section 111 of EESA as implemented by any guidance, rule or regulation thereunder, as the same shall be in effect from time to time, as though Chrysler and its Subsidiaries remained a “TARP recipient” receiving “exceptional
financial assistance” (as such terms are defined in the Interim Final Rule (as defined below)). 
 1.2 Specific
Requirements. Without limiting the generality of Section 1.1 hereof, Chrysler agrees that: 
 (a) the requirements of
Section 1.1 hereof include continued compliance during the TARP Restricted Period with the requirements of Section 30.16 of the Interim Final Rule; 
 (b) the obligations under this Article I and Section 2.2 shall survive any change of control or acquisition regardless of the characterization of such event under the TARP Standards for
Compensation and Corporate Governance (31 C.F.R. Part 30), as the same shall be in effect from time to time (the “Interim Final Rule”) (which for purposes of this letter agreement shall be applied without regard to the
provisions of Section 30.14(a) of the Interim Final Rule); and 
 (c) during the TARP Restricted Period, neither Chrysler
nor any of its Subsidiaries shall claim a deduction for remuneration for federal income tax purposes in excess of $500,000 for each SEO that would not be deductible if section 162(m)(5) of the Code applied to Chrysler or any of its
Subsidiaries. 
 1.3 No Application to Fiat. For the avoidance of doubt, the requirements in this letter agreement are
intended to be limited to Chrysler and its Subsidiaries and nothing in this letter agreement shall in any way be interpreted to require Fiat or any of its affiliates (other than Chrysler and its Subsidiaries) to comply in any respect with the
requirements of section 111 of EESA, the Compensation Regulations (as defined in Section 2.2(a)) or the covenants and other agreements provided for in this letter agreement. 

ARTICLE II TARP COVENANTS 
 In addition, Chrysler hereby agrees to comply with each of the following additional covenants (the “TARP Covenants”) during the TARP Restricted Period: 

2.1 Inspection of Property; Books and Records; Discussions. Chrysler shall, and shall cause each of its Subsidiaries to,
(a) keep proper books of records and account in which full, true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities, and
(b) permit representatives of the Treasury, the Special Inspector General of the Troubled Asset Relief Program or the Comptroller General of the United States to visit and inspect any of its properties and examine and make abstracts from any of
its books and records at any reasonable time during normal office hours and as often as may reasonably be desired and to discuss the business, operations, properties and financial and other condition of Chrysler and its Subsidiaries with

 
officers and employees of Chrysler and its Subsidiaries and with its independent certified public accountants. 
 2.2 Affirmative Obligations Relating to Executive Privileges and Compensation. Chrysler shall, and shall cause each of its Subsidiaries to, comply with the following restrictions on executive
privileges and compensation as though Chrysler remained a “TARP recipient” receiving “exceptional financial assistance” subject to EESA during the TARP Restricted Period: 

(a) Chrysler and each of its Subsidiaries shall take all necessary action to ensure that its Specified Benefit Plans comply in all
respects with EESA, including the rules set forth in the Interim Final Rule, or any other guidance or regulations under EESA, as the same shall be in effect from time to time (collectively, the “Compensation Regulations”), and shall
not adopt any new Specified Benefit Plan (x) that does not comply therewith or (y) that does not expressly state and require that such Specified Benefit Plan and any compensation thereunder shall be subject to all relevant Compensation
Regulations adopted, issued or released on or after the date any such Specified Benefit Plan is adopted. To the extent that the Compensation Regulations change during the TARP Restricted Period in a manner that requires changes to then-existing
Specified Benefit Plans, Chrysler and its Subsidiaries shall effect such changes to its Specified Benefit Plans as promptly as practicable after it has actual knowledge of such changes in order to be in compliance with this Section 2.2(a) (and
shall be deemed to be in compliance for a reasonable period within which to effect such changes); 
 (b) neither Chrysler nor
any of its Subsidiaries shall pay or accrue any bonus or incentive compensation to any Senior Employees except as may be permitted under EESA or the Compensation Regulations; 
 (c) neither Chrysler nor any of its Subsidiaries shall adopt or maintain any compensation plan that would encourage manipulation of its reported earnings to enhance the compensation of any of their
respective employees; and 
 (d) Chrysler and each of its Subsidiaries shall maintain all suspensions and other restrictions on
contributions to Specified Benefit Plans that are in place as of the Effective Date. 
 At all times during the TARP Restricted
Period, the Treasury shall have the right to require Chrysler and each of its Subsidiaries to claw back any bonuses or other compensation, including golden parachutes, paid to any Senior Employees in violation of any of the foregoing. 

2.3 Restrictions on Expenses. (a) Chrysler and each of its Subsidiaries shall maintain and implement an Expense Policy and
distribute the Expense Policy to all employees covered under the Expense Policy. Any material amendments to the Expense Policy shall require the prior written consent of the Treasury, and any material deviations from the Expense Policy, whether in
contravention thereof or pursuant to waivers provided for thereunder, shall be reported to the Treasury promptly after Chrysler obtains actual knowledge thereof. 
 (b) The Expense Policy shall, at a minimum: (i) require compliance with all Requirements of Law, (ii) apply to Chrysler and all of its Subsidiaries, (iii) govern (A) the

 
hosting, sponsorship or other payment for conferences and events, (B) travel accommodations and expenditures, (C) consulting arrangements with outside service providers, (D) any
new lease or acquisition of real estate, (E) expenses relating to office or facility renovations or relocations, and (F) expenses relating to entertainment or holiday parties, and (iv) provide for (A) internal reporting and
oversight, and (B) mechanisms for addressing non compliance with the Expense Policy. 
 2.4 Aircraft. Neither
Chrysler nor any of its Subsidiaries shall acquire or lease any private passenger aircraft or interest in private passenger aircraft. 
 2.5 Employ American Workers Act. Chrysler shall comply, and shall take all necessary action to ensure that its Subsidiaries comply, in all respects with the provisions of the EAWA as if Chrysler
remained a “TARP recipient” receiving “exceptional financial assistance” subject to EESA. 
 2.6 Internal
Controls; Recordkeeping; Additional Reporting. Chrysler shall promptly establish internal controls to provide reasonable assurance of compliance in all material respects with each of the covenants and agreements set forth in Sections 2.1
through 2.5 hereof and shall collect, maintain and preserve reasonable records evidencing such internal controls and compliance therewith, a copy of which records shall be provided to the Treasury promptly upon request. On the 30th day after the
last day of each calendar quarter (or, if such day is not a Business Day, on the first Business Day after such day), Chrysler shall deliver to the Treasury a report setting forth in reasonable detail (x) the status of implementing such internal
controls and (y) Chrysler’s compliance (including any instances of material non compliance) with such covenants and agreements. Such report shall be accompanied by a certification duly executed by an SEO of Chrysler stating that such
quarterly report is accurate in all material respects to the best of such SEO’s knowledge, which certification shall be made subject to the requirements and penalties set forth in Title 18, United States Code, Section 1001.

 2.7 Waivers. 
 (a) For any Person who becomes an SEO after the Effective Date, Chrysler shall cause a waiver, in substantially the form as Exhibit D-2 to the Credit Agreement, to be duly executed by such SEO, and
promptly delivered to the Treasury. 
 (b) For any Person who becomes an SEO after the Effective Date, Chrysler shall cause a
consent and waiver, in substantially the form as Exhibit D-3 to the Credit Agreement, to be duly executed by such SEO, and promptly delivered to Chrysler (with a copy to the Treasury). 

(c) For any Person who becomes a Senior Employee after the Effective Date, Chrysler shall cause a waiver, in substantially the form as
Exhibit D-4 to the Credit Agreement, to be duly executed by such Senior Employee, and promptly delivered to the Treasury. 

(d) For any Person who becomes a Senior Employee after the Effective Date, Chrysler shall cause a consent and waiver, in substantially
the form as Exhibit D-5 to the Credit Agreement, to be duly executed by such Senior Employee, and promptly delivered to Chrysler (with a copy to the Treasury). 

 2.8 Vitality Commitment. Chrysler shall, for each of its fiscal years through
June 10, 2014, cause: 
 (a) at least 40% of the United States sales volumes of Chrysler and its Subsidiaries for such year
to be manufactured in the United States; or 
 (b) the production volume of the United States manufacturing plants of Chrysler
and its Subsidiaries for such fiscal year to equal at least 995,433 units. 
 ARTICLE III REPORTING COVENANTS

 In addition, Chrysler hereby agrees, during the TARP Restricted Period, to deliver the Treasury each of the financial
statements and other information required to be delivered pursuant to Section 12.4 of the LLC Operating Agreement (the “Reporting Covenants”). 
 ARTICLE IV ENFORCEMENT, CREDIT AGREEMENT AND OTHER 
 4.1
Enforcement. Chrysler, on behalf of itself and each of its Subsidiaries, acknowledges that the undertakings set forth in Article I hereof, the TARP Covenants set forth in Article II hereof and the Reporting Covenants set forth in
Article III hereof (collectively, the “Undertakings”) are a material inducement to the Treasury to enter into this letter agreement, and Chrysler further acknowledges that neither Chrysler nor any of its Subsidiaries will
contest that the Treasury does not have an adequate remedy at law for a breach of any of the Undertakings and that the Treasury cannot be made whole by monetary damages. The Treasury is entitled to seek specific performance of the Undertakings and
the appointment of a court-ordered monitor acceptable to the Treasury (and at the sole expense of Chrysler) to ensure compliance with the Undertakings. In addition, Chrysler agrees that (i) neither Chrysler nor any of its Subsidiaries shall
oppose any motion for preliminary or permanent injunctive relief or any other similar form of expedited relief in an action by the Treasury to enforce any of the Undertakings on the grounds that the Treasury has not sustained irreparable harm or on
any other basis (other than a defense on the merits), and (ii) Chrysler, on behalf of itself and each of its Subsidiaries, waives all defenses and counterclaims which may at any time be available to or be asserted by Chrysler or any of its
Subsidiaries against the Treasury with respect to the enforceability of any of the Undertakings and/or the remedy of specific performance of any of the Undertakings. Chrysler, on behalf of itself and each of its Subsidiaries, submits to the
jurisdiction of the United States District Court for the District of Columbia for purposes of enforcement of the Undertakings and any appellate court therefrom, and consents that any such action or proceeding to enforce the Undertakings may be
brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim
the same. 
 4.2 Credit Agreement. This letter agreement is subject to, and all agreements herein conditioned on, the
full and indefeasible repayment in cash of the Obligations under the Credit Agreement and the termination in full of the Credit Agreement and all Commitments, agreements and covenants thereunder (notwithstanding any provision in the Credit Agreement
to the contrary) other than the obligations in Sections 2.16, 8.5 and 8.15 of the 

 
Credit Agreement, which the parties hereto agree expressly survive such termination. This letter agreement does not constitute, directly or by implication, an amendment or waiver of any provision
of the Credit Agreement, extension of the time for performance of any obligation or other act or any right, remedy, power or privilege of any party to the Credit Agreement. 
 4.3 Miscellaneous. (a) THIS LETTER AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE FEDERAL LAW OF THE UNITED STATES IF AND TO THE EXTENT SUCH LAW IS APPLICABLE, AND
OTHERWISE IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. 
 (b) Each of the Treasury and Chrysler hereby irrevocably and unconditionally agrees: 
 (i) to submit to the exclusive jurisdiction and venue of the United States District Court for the District of Columbia and the United States Court of Federal Claims for any and all civil actions, suits or
proceedings arising out of or relating to this letter agreement or the transactions contemplated hereby; and 

(ii) that notice may be served upon Chrysler in accordance with federal law. 

(c) CHRYSLER AND THE TREASURY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO
THIS LETTER AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 (d) No amendments, alterations or modifications of this letter
agreement will be valid unless made in writing and signed by a duly authorized officer or director of Chrysler and the Treasury. 
 (e) This letter agreement may be executed and delivered in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed and delivered shall be deemed
to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed signature page of this letter agreement by facsimile or other electronic transmission shall be effective as delivery of a manually
executed counterpart hereof. A set of the copies of this letter agreement signed by all the parties shall be lodged with Chrysler and the Treasury. 
 [Signature Page to Follow] 

 Please sign where indicated below to evidence your agreement to the foregoing. 

 

			
	Very truly yours,
	  
 CHRYSLER GROUP LLC

		
	By:	 	 /s/ Richard K. Palmer

		 	Name: Richard K. Palmer
		 	 Title: Senior Vice President and
 Chief Financial Officer

			
	Agreed as of the date first above written:
	
	THE UNITED STATES DEPARTMENT OF THE TREASURY
		
	By:	 	 /s/ Timothy G. Massad

		 	Name: Timothy G. Massad
		 	Title: Acting Assistant Secretary for Financial Stability

 Annex 
 DEFINITIONS 
 For purposes of this letter agreement, the following
terms shall have the following meanings: 
 “Additional Note” means the Additional Note dated as of
June 10, 2009, made by Chrysler in favor of the Treasury, in a principal amount equal to $288,000,000. 

“Business Day” means any day other than a Saturday, Sunday or other day on which banks in New York City are
permitted to close. 
 “Capital Stock” means any and all shares, interests, participations or other
equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Commitments” means any and all agreements by the Treasury to make loans or advances to Chrysler pursuant
to the Credit Agreement. 
 “EAWA” means the Employ American Workers Act (Section 1611 of
Division A, Title XVI of the American Recovery and Reinvestment Act of 2009), Public Law No. 111-5, effective as of February 17, 2009, as amended. 
 “EESA” means the Emergency Economic Stabilization Act of 2008, Public Law No. 110-343, effective as of October 3, 2008, as amended by Section 7000 et al. of
Division A, Title VII of the American Recovery and Reinvestment Act of 2009, Public Law No. 111-5, effective as of February 17, 2009, as amended. 
 “Expense Policy” means Chrysler’s comprehensive written policy on corporate expenses maintained and implemented in accordance with Section 2.3. 

“Effective Date” means the date on which the Obligations under the Credit Agreement are fully and indefeasibly
paid in cash and the Commitments under the Credit Agreement have been terminated. 
 “GAAP” means
generally accepted accounting principles in the United States as in effect from time to time. 
 “Governmental
Authority” means any federal, state, provincial, municipal or other governmental department, commission, board, bureau, agency or instrumentality, or any federal, state or municipal court, in each case whether of the United States or
foreign. 
 “Loans” means the loans outstanding under the Credit Agreement on the Effective Date.

  
 Annex –
Pg. 1 

 “Obligations” means, the unpaid principal of and interest on
(including, without limitation, payable-in-kind interest, interest accruing after the maturity of the Loans, the Additional Note and the Zero Coupon Note and interest accruing after the filing of any petition in bankruptcy, or the commencement of
any insolvency, reorganization or like proceeding, relating to Chrysler, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) the Loans, the Additional Note and the Zero Coupon Note and all other
obligations and liabilities of Chrysler to the Treasury, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, the
Additional Note, the Zero Coupon Note, any other Loan Document or any other document made, delivered or given in connection herewith or therewith, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs,
expenses (including, without limitation, all fees, charges and disbursements of counsel to the Treasury that are required to be paid by Chrysler pursuant hereto) or otherwise. 
 “Person” means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture,
Governmental Authority or other entity of whatever nature. 
 “Requirements of Law” means as to any
Person, the Certificate of Incorporation and By-Laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court of competent jurisdiction or other Governmental
Authority, in each case applicable to and binding upon such Person and any of its property, and to which such Person and any of its property is subject. 
 “Senior Employee” means with respect to Chrysler and its Subsidiaries collectively, the SEOs and any of the 20 next “most highly compensated employees” as defined in
section 111 of EESA as implemented by the Compensation Regulations. 
 “SEO” means Chrysler’s
“senior executive officers” as defined in section 111 of EESA as implemented by the Compensation Regulations. 

“Special Inspector General of the Troubled Asset Relief Program” means The Special Inspector General of the
Troubled Asset Relief Program, as contemplated by section 121 of EESA. 
 “Specified Benefit Plan”
means any employee benefit plan within the meaning of section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, and any other plan, arrangement or agreement which provides for compensation, benefits, fringe benefits or
other remuneration to any employee, former employee, individual independent contractor or director, including any bonus, incentive, supplemental retirement plan, golden parachute, employment, individual consulting, change of control, bonus or
retention agreement, whether provided directly or indirectly by Chrysler and each of its Subsidiaries or otherwise. 

“Subject Shares” means the 98,461 Class A membership units issued to the Treasury in June 2009
pursuant to the MTA and the LLC Operating Agreement (it being understood that, for purposes of administration of this letter agreement, any membership units acquired by the Treasury will be deemed to be sold or transferred on a first-in, first out
basis). 

 “Subsidiary” means, with respect to any Person, any corporation,
association, joint venture, partnership, limited liability company or other business entity (whether now existing or hereafter organized) of which at least a majority of the Voting Stock is, at the time as of which any determination is being made,
owned or controlled by such Person or one or more subsidiaries of such Person or by such Person and one or more subsidiaries of such Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in
this letter agreement shall refer to a Subsidiary or Subsidiaries of Chrysler. 
 “TARP” means the
Troubled Asset Relief Program, established pursuant to EESA. 
 “Voting Stock” means with respect to any
Person, such Person’s Capital Stock having the right to vote for election of directors (or the equivalent thereof) of such Person under ordinary circumstances. 
 “Zero Coupon Note” means the Zero Coupon Note dated as of June 10, 2009, made by Chrysler in favor of the Treasury, in a principal amount equal to $100,000,000.Amended and Restated 2006 Equity Incentive Plan

 EXHIBIT 10.1 
 STATE STREET CORPORATION 
 2006 EQUITY INCENTIVE PLAN 

as Amended and Restated 
  

	1.	DEFINED TERMS; EFFECTIVE DATE 

 Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those terms. The Plan shall take effect on the Effective Date.

  

	2.	PURPOSE 

 The Plan has
been established to advance the interests of the Company by providing for the grant to Participants of Stock-based Awards. 
  

	3.	ADMINISTRATION 

 The
Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan, determine eligibility for and grant or cancel Awards; determine, modify or waive the terms and conditions, size, or type of any
Award, prescribe forms, rules and procedures, and otherwise do all things necessary to carry out the purposes of the Plan. In the case of any Award intended to be eligible for the performance-based compensation exception under Section 162(m),
the Administrator will exercise its discretion consistent with qualifying the Award for that exception. Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 

 

	4.	LIMITS ON AWARDS UNDER THE PLAN 

 (a) Number of Shares. The number of shares of Stock available for delivery in satisfaction of Awards under the Plan shall be determined in accordance with this Section 4(a). 

(1) Subject to Section 7(b), the maximum number of shares of Stock that may be delivered in satisfaction of Awards under the
Plan shall be 37,000,000 plus the number (not to exceed 8,000,000) of unused Prior Plan shares. For purposes of the preceding sentence, shares of Stock shall be unused Prior Plan shares (i) if they were subject to awards under the Prior Plan,
other than restricted stock awards, that were outstanding on the day preceding the Effective Date to the extent such Prior Plan awards are exercised or are satisfied, or terminate or expire, on or after the Effective Date without the delivery of
such shares, or (ii) if they were outstanding on the day preceding the Effective Date as restricted stock awards under the Prior Plan and are thereafter forfeited. The number of shares of Stock delivered in satisfaction of an Award shall be,
for purposes of the first sentence of this Section 4(a)(1), the number of shares of Stock subject to the Award reduced by the number of shares of Stock (a) withheld by the Company in payment of the exercise price of the Award or in
satisfaction of tax withholding requirements with respect to the Award, or (b) awarded under the Plan as Restricted Stock but thereafter forfeited, or (c) made 

 
subject to an Award that is exercised or satisfied, or that terminates or expires, without the delivery of such shares. 

(2) To the extent consistent with the requirements of Section 422 and with other applicable legal
requirements (including applicable stock exchange requirements), Stock issued under awards of an acquired company that are converted, replaced, or adjusted in connection with the acquisition shall not reduce the number of shares available for Awards
under the Plan. 
 (b) Type of Shares. Stock delivered by the Company under the Plan may be authorized but
unissued Stock or previously issued Stock acquired by the Company. No fractional shares of Stock will be delivered under the Plan. 
 (c) Section 162(m) Limits. Subject to Section 7(b), the maximum number of shares of Stock for which Stock Options may be granted to any person in any calendar year and the maximum
number of shares of Stock subject to SARs granted to any person in any calendar year shall each be 2,000,000, and the maximum number of shares subject to other Awards granted to any person in any calendar year shall be 2,000,000 shares. The
provisions of this Section 4(c) shall be construed in a manner consistent with Section 162(m). 
  

	5.	ELIGIBILITY AND PARTICIPATION 

 The Administrator will select Participants from among those key Employees and directors of, and consultants and advisors to, the Company or its Subsidiaries who, in the opinion of the Administrator, are
in a position to make a significant contribution to the success of the Company and its Subsidiaries. Eligibility for ISOs is limited to employees of the Company or of a “parent corporation” or “subsidiary corporation” of the
Company as those terms are defined in Section 424 of the Code. 
  

	6.	RULES APPLICABLE TO AWARDS 

(a) All Awards 
 (1) Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations provided herein. By accepting any Award granted hereunder, the Participant agrees
to the terms of the Award and the Plan. Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may contain terms and conditions that are
inconsistent with the terms and conditions specified herein, as determined by the Administrator. 
 (2) Term of
Plan. No Awards may be made after May 19, 2019, but previously granted Awards may continue beyond that date in accordance with their terms. 
 (3) Transferability. Neither ISOs nor, except for gratuitous transfers (i.e., transfers for no consideration) to the extent permitted by the Administrator, other Awards may be transferred
other than by will or the laws of descent and distribution, and during a Participant’s 

  
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lifetime ISOs (and, except as the Administrator otherwise expressly provides, other non-transferable Awards requiring exercise) may be exercised only by the Participant. 

(4) Vesting, Etc. The Administrator may determine the time or times at which an Award will vest or become exercisable and
the terms on which an Award requiring exercise will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax
consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply: immediately upon the cessation of the Participant’s Employment, each Award requiring exercise that is
then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate, and all other Awards that are then held by the Participant or by the Participant’s permitted transferees,
if any, to the extent not already vested will be forfeited, except that: 
 (A) subject to (B) and
(C) below, all Stock Options and SARs held by the Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain
exercisable for the lesser of (i) a period of three months or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate;

 (B) all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any,
immediately prior to the Participant’s death, to the extent then exercisable, will remain exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s death or (ii) the period
ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate; and 

(C) all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately
prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation if the Administrator in its sole discretion determines that such cessation of Employment has resulted for reasons which cast such discredit on
the Participant as to justify immediate termination of the Award. 
 (5) Taxes. The Administrator will make such
provision for the withholding of taxes as it deems necessary. The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding
requirements (but not in excess of the minimum withholding required by law). 
 (6) Dividend Equivalents, Etc. The
Administrator may provide for the payment of amounts in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award. Any entitlement to dividend equivalents or similar entitlements shall be established and

  
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administered consistent either with exemption from, or compliance with, the requirements of Section 409A to the extent applicable. 

(7) Rights Limited. Nothing in the Plan will be construed as giving any person the right to continued employment or service
with the Company or its Subsidiaries, or any rights as a shareholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential profit in Awards will not constitute an element of damages in the event of
termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or Subsidiary to the Participant. 
 (8) Section 162(m). This Section 6(a)(8) applies to any Performance Award intended to qualify as performance-based for the purposes of Section 162(m) other than a Stock Option
or SAR. In the case of any Performance Award to which this Section 6(a)(8) applies, the Plan and such Award will be construed to the maximum extent permitted by law in a manner consistent with qualifying the Award for such exception. With
respect to such Performance Awards, the Administrator will preestablish, in writing, one or more specific Performance Criteria no later than 90 days after the commencement of the period of service to which the performance relates (or at such earlier
time as is required to qualify the Award as performance-based under Section 162(m)). Prior to grant, vesting or payment of the Performance Award, as the case may be, the Administrator will certify whether the applicable Performance Criteria
have been attained and such determination will be final and conclusive. No Performance Award to which this Section 6(a)(8) applies may be granted after the first meeting of the shareholders of the Company held in 2014 until the listed
performance measures set forth in the definition of “Performance Criteria” (as originally approved or as subsequently amended) have been resubmitted to and reapproved by the shareholders of the Company in accordance with the requirements
of Section 162(m) of the Code, unless such grant is made contingent upon such approval. 
 (b) Awards Requiring
Exercise 
 (1) Time And Manner Of Exercise. Unless the Administrator expressly provides
otherwise, an Award requiring exercise by the holder will not be deemed to have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator) signed by the appropriate person and accompanied by
any payment required under the Award. If the Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so. 

(2) Section 409A Exemption. Except as the Administrator otherwise determines, no Award requiring exercise shall have
deferral features, or shall be administered in a manner, that would cause such Award to fail to qualify for exemption from Section 409A. 
 (3) Exercise Price. The exercise price (or the base value from which appreciation is to be measured) of each Award requiring exercise shall be 100% of the fair market value of the Stock
subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant. No such Award, once granted, 

  
 -4-

 
may be repriced other than in accordance with the applicable shareholder approval requirements of the New York Stock Exchange. Fair market value shall be determined by the Administrator
consistent with the requirements of Section 422 and Section 409A. 
 (4) Payment Of Exercise Price.
Where the exercise of an Award is to be accompanied by payment, the Administrator may determine the required or permitted forms of payment, subject to the following: all payments will be by cash or check acceptable to the Administrator, or, if so
permitted by the Administrator and if legally permissible, (i) through the delivery of shares of Stock that have been outstanding for at least six months (unless the Administrator approves a shorter period) and that have a fair market value
equal to the exercise price, (ii) through a broker-assisted exercise program acceptable to the Administrator, (iii) by other means acceptable to the Administrator, or (iv) by any combination of the foregoing permissible forms of
payment. The delivery of shares in payment of the exercise price under Section 6(b)(3)(i) above may be accomplished either by actual delivery or by constructive delivery through attestation of ownership, subject to such rules as the
Administrator may prescribe. 
 (c) Awards Not Requiring Exercise 

Restricted Stock and Unrestricted Stock, whether delivered outright or under Awards of Stock Units or other Awards that do not require
exercise, may be made in exchange for such lawful consideration, including services, as the Administrator determines. Any Award resulting in a deferral of compensation subject to Section 409A shall be construed to the maximum extent possible,
as determined by the Administrator, consistent with the requirements of Section 409A. 
  

	7.	EFFECT OF CERTAIN TRANSACTIONS 

 (a) Mergers, etc. Except as otherwise provided in an Award, the following provisions shall apply in the event of a Covered Transaction: 

(1) Assumption or Substitution. If the Covered Transaction is one in which there is an acquiring or surviving entity, the
Administrator may provide for the assumption of some or all outstanding Awards or for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor. 

(2) Cash-Out of Awards. If the Covered Transaction is one in which holders of Stock will receive upon consummation a
payment (whether cash, non-cash or a combination of the foregoing), the Administrator may provide for payment (a “cash-out”), with respect to some or all Awards, equal in the case of each affected Award to the excess, if any, of
(A) the fair market value of one share of Stock (as determined by the Administrator in its reasonable discretion) times the number of shares of Stock subject to the Award, over (B) the aggregate exercise or purchase price, if any, under
the Award (in the case of an SAR, the aggregate base price above which appreciation is measured), in each case on such payment terms (which need 

  
 -5-

 
not be the same as the terms of payment to holders of Stock) and other terms, and subject to such conditions, as the Administrator determines. 

(3) Acceleration of Certain Awards. If the Covered Transaction (whether or not there is an acquiring or surviving entity)
is one in which there is no assumption, substitution or cash-out, each Award requiring exercise will become fully exercisable, and the delivery of shares of Stock deliverable under each outstanding Award of Stock Units (including Restricted Stock
Units and Performance Awards to the extent consisting of Stock Units) will be accelerated and such shares will be delivered, prior to the Covered Transaction, in each case on a basis that gives the holder of the Award a reasonable opportunity, as
determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a shareholder in the Covered Transaction. 
 (4) Termination of Awards Upon Consummation of Covered Transaction. Each Award (unless assumed pursuant to Section 7(a)(1) above), other than outstanding shares of Restricted Stock
(which shall be treated in the same manner as other shares of Stock, subject to Section 7(a)(5) below), will terminate upon consummation of the Covered Transaction. 
 (5) Additional Limitations. Any share of Stock delivered pursuant to Section 7(a)(2) or Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator,
contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was subject. In the case of Restricted Stock, the Administrator may require that any amounts
delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan.

 (b) Change in and Distributions With Respect to Stock; Other Adjustments 

(1) Basic Adjustment Provisions. In the event of a stock dividend, stock split or combination of shares (including a
reverse stock split), recapitalization or other change in the Company’s capital structure, the Administrator will make appropriate adjustments to the maximum number of shares specified in Section 4(a) that may be delivered under the Plan
and to the maximum share limits described in Section 4(c), and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted, any exercise prices
relating to Awards and any other provision of Awards affected by such change. 
 (2) Certain Other Adjustments.
The Administrator may also make adjustments of the type described in Section 7(b)(1) above to take into account distributions to shareholders other than those provided for in Section 7(a) and 7(b)(1), material changes in law or accounting
practices, principles, or interpretations, mergers, consolidations, acquisitions, dispositions, or similar corporate transactions, or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the
operation of the Plan, having due regard for 

  
 -6-

 
the qualification of ISOs under Section 422, the requirements of Section 409A, and the performance-based compensation rules of Section 162(m), where applicable. 

(3) Continuing Application of Plan Terms. References in the Plan to shares of Stock will be construed to include any stock
or securities resulting from an adjustment pursuant to this Section 7. 
 (c) Change in Control Provisions.
Notwithstanding any other provision of the Plan to the contrary, in the event of a Change of Control: 
 (1) Acceleration
of Stock Options and SARs; Effect on Other Awards. All Stock Options and SARs outstanding as of the date such Change of Control is determined to have occurred and which are not then exercisable shall (prior to application of the provisions
of Section 7(a), above, in the case of a Change of Control that also constitutes a Covered Transaction) become exercisable to the full extent of the original grant, all shares of Restricted Stock which are not otherwise vested shall vest, and
holders of Performance Awards granted hereunder as to which the relevant performance period has not ended as of the date such Change of Control is determined to have occurred shall be entitled at the time of such Change of Control to receive a
cash-out with respect to each Performance Award in the amount and in a form described in Section 7(a)(2). 
 (2)
Restriction on Application of Plan Provisions Applicable in the Event of Termination of Employment. After a Change of Control, Stock Options and SARs granted under Section 7(a)(1) as substitution for existing Awards shall remain
exercisable following a termination of employment or other service relationship (other than termination by reason of death, disability (as determined by the Company) or retirement (as defined in the Award)) for the lesser of (i) a period of
seven (7) months, or (ii) the period ending on the latest date on which such Stock Option or SAR could otherwise have been exercised. 
 (3) Restriction on Amendment. In connection with or following a Change of Control, neither the Committee nor the Board may impose additional conditions upon exercise or otherwise amend or
restrict any Award, or amend the terms of the Plan in any manner adverse to the holder thereof, without the written consent of such holder. 
 (d) Section 409A. Notwithstanding the foregoing provisions of this Section 7, Awards subject to and intended to satisfy the requirements of Section 409A shall be construed and
administered consistent with such intent. 
  

	8.	LEGAL CONDITIONS ON DELIVERY OF STOCK 

 The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the

  
 -7-

 
Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of
delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been
satisfied or waived. If the sale of Stock has not been registered under the Securities Act of 1933, as amended, the Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may
consider appropriate to avoid violation of such Act. The Company may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may
hold the certificates pending lapse of the applicable restrictions. 
  

	9.	AMENDMENT AND TERMINATION 

The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by
law, and may at any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so
as to affect materially and adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time of the Award. Any amendments to the Plan shall be conditioned upon shareholder approval
only to the extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 
  

	10.	OTHER COMPENSATION ARRANGEMENTS 

 The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to award a person bonuses or other compensation in addition to Awards under the Plan. 

 

	11.	MISCELLANEOUS 

 (a)
Waiver of Jury Trial. By accepting an Award under the Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver,
consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim shall be tried before a court and not before a jury. By
accepting an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim,
seek to enforce the foregoing waivers. 
 (b) Limitation of Liability. Notwithstanding anything to the contrary in
the Plan, neither the Company nor the Administrator, nor any person acting on behalf of the Company or 

  
 -8-

 
the Administrator, shall be liable to any Participant or to the estate or beneficiary of any Participant by reason of any acceleration of income, or any additional tax, asserted by reason of the
failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code; provided, that nothing in this Section 11(b) shall limit the ability of the Administrator or the
Company to provide by express agreement with a Participant for a gross-up payment or other payment in connection with any such tax or additional tax. 
 (c) Special Terms for Non-U.S. Participants. The Administrator may establish special rules under the Plan (which may be, but need not be, consistent with the rules applicable to
Participants and Awards generally) for Awards to Participants who are or are expected to be employed by or otherwise providing services outside the United States or to a non-U.S. Subsidiary, provided, that no such rules shall be established without
the approval of the shareholders of the Company to the extent they would be ineffective without such shareholder approval if accomplished as an amendment to the Plan pursuant to Section 9. 

  
 -9-

 EXHIBIT A 
 Definition of Terms 
 The following terms, when used in the Plan,
will have the meanings and be subject to the provisions set forth below: 
 “Administrator”: The Executive
Compensation Committee or, if the Board so determines, another committee of the Board, except that the Executive Compensation Committee or such other committee may delegate (i) to one or more of its members such of its duties, powers and
responsibilities as it may determine; (ii) to one or more officers of the Company the power and authority to grant or to allocate, consistent with the requirements of Chapter 156D of the Massachusetts General Laws and subject to such
limitations as the Executive Compensation Committee or such other committee may impose, Awards among such persons (other than officers of the Company) eligible to receive Awards under the Plan as such delegated officer or officers determine
consistent with such delegation; and (iii) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate. In the event of any delegation described in the preceding sentence, the term
“Administrator” shall include the person or persons so delegated to the extent of such delegation. If the Executive Compensation Committee or such other committee includes members who are not “non-employee directors” within the
meaning of Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, or “outside directors” within the meaning of paragraph (4)(c)(i) of Section 162(m), it shall act and shall be deemed to have acted, in any
case where it would be required to do so with respect to Awards to directors or executive officers of the Company to ensure exemption under Rule 16b-3 or Section 162(m), through a subcommittee consisting solely of its non-employee and outside
director members. 
 “Award”: Any or a combination of the following: 

(i) Stock Options. 
 (ii) SARs. 
 (iii) Restricted Stock. 

(iv) Unrestricted Stock. 
 (v) Stock Units, including Restricted Stock Units. 
 (vi) Performance Awards.

 (vii) Awards (other than Awards described in (i) through (vi) above) that are convertible into or otherwise based
on Stock. 

  
 -10-

 “Board”: The Board of Directors of the Company. 

“Change in Control”: Any of the following: 
 (1) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of 25% or more of either (x) the then outstanding shares of Stock of the Company (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then outstanding
voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, the following acquisitions of Outstanding Company Common Stock and Outstanding
Company Voting Securities: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company or (iv) any acquisition by any Person pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (3) of this definition; or 

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

  
 -11-

 
more of, respectively, the outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the outstanding voting securities of such
corporation entitled to vote generally in the election of directors except to the extent that such ownership existed with respect to the Company prior to the Business Combination and (iii) at least a majority of the members of the board of
directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

(4) The approval by the shareholders of the Company of a complete liquidation or dissolution of the Company; 

provided, that, to the extent necessary to ensure compliance with the requirements of Section 409A, where applicable, an event described
above shall be treated as a Change in Control only if it also constitutes or results in a change in ownership or control of the Company, or a change in ownership of assets of the Company, described in Section 409A. 

“Code”: The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as
from time to time in effect. Any reference to a provision of the Code shall include, as determined by the Administrator, a reference to applicable regulations and Internal Revenue Service guidance with respect to such provision. 

“Company”: State Street Corporation. 
 “Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related transactions, including a sale or other disposition of stock, in which the
Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or by a group of persons and/or entities acting in concert,
(ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered Transaction involves a tender offer that is reasonably expected to be followed by a
merger described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender offer. 
 “Effective Date”: The date on which the shareholders of the Company approve the Plan. 
 “Employee”: Any person who is employed by the Company or a Subsidiary. 
 “Employment”: A Participant’s employment or other service relationship with the Company and its Subsidiaries. Employment will be deemed to continue, unless the Administrator
expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or its Subsidiaries. If a Participant’s employment or other service
relationship is with a Subsidiary and that entity ceases to be a Subsidiary, the Participant’s Employment will be deemed to have 

  
 -12-

 
terminated when the entity ceases to be a Subsidiary unless the Participant transfers Employment to the Company or its remaining Subsidiaries. 

“Executive Compensation Committee”: The Executive Compensation Committee of the Board. 

“ISO”: A Stock Option intended to be an “incentive stock option” within the meaning of Section 422. Each
option granted pursuant to the Plan will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant, it is expressly designated as an ISO. No ISO shall be exercisable beyond ten years from the
date of grant. 
 “Participant”: A person who is granted an Award under the Plan. 

“Performance Award”: An Award subject to Performance Criteria. The Committee in its discretion may grant Performance
Awards that are intended to qualify for the performance-based compensation exception under Section 162(m) and Performance Awards that are not intended so to qualify. 
 “Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time, the satisfaction of which is a condition for the grant,
exercisability, vesting or full enjoyment of an Award. For purposes of Awards that are intended to qualify for the performance-based compensation exception under Section 162(m), a Performance Criterion will mean an objectively determinable
measure of performance relating to any or any combination of the following (measured either absolutely or by reference to an index or indices and determined either on a consolidated basis or, as the context permits, on a divisional, subsidiary, line
of business, project or geographical basis or in combinations thereof): sales; revenue; assets; expenses; expense control; earnings before or after deduction for all or any portion of interest, taxes, depreciation, or amortization, whether or not on
a continuing operations or an aggregate or per share basis; return on equity, investment, capital or assets; capital or capital ratios; one or more operating ratios; operating leverage; borrowing levels, leverage ratios or credit rating; market
share; capital expenditures; cash flow; stock price; shareholder return; sales of particular products or services; customer acquisition or retention; acquisitions and divestitures (in whole or in part); joint ventures and strategic alliances;
spin-offs, split-ups and the like; reorganizations; or recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings. A Performance Criterion and any targets with respect thereto determined by the Administrator need not
be based upon an increase, a positive or improved result or avoidance of loss. To the extent consistent with the requirements for satisfying the performance-based compensation exception under Section 162(m), the Administrator may provide in the
case of any Award intended to qualify for such exception that one or more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, but without limitation,
acquisitions or dispositions, changes in accounting principles or interpretations, impairment 

  
 -13-

 
charges) occurring during the performance period that affect the applicable Performance Criterion or Criteria. 
 “Plan”: The State Street Corporation 2006 Equity Incentive Plan as from time to time amended and in effect. 
 “Prior Plan”: The State Street Corporation 1997 Equity Incentive Plan as amended and in effect prior to the Effective Date. 

“Restricted Stock”: Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if
specified conditions are not satisfied. 
 “Restricted Stock Unit”: A Stock Unit that is, or as to which the
delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified performance or other vesting conditions. 
 “SAR”: A right entitling the holder upon exercise to receive an amount (payable in shares of Stock of equivalent value) equal to the excess of the fair market value of the shares of Stock
subject to the right over the fair market value of such shares at the date of grant. 
 “Section 409A”:
Section 409A of the Code. 
 “Section 422”: Section 422 of the Code. 

“Section 162(m)”: Section 162(m) of the Code. 

“Stock”: The Common Stock of the Company, par value $1 per share. 

“Stock Option”: An option entitling the holder to acquire shares of Stock upon payment of the exercise price.

 “Stock Unit”: An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash
measured by the value of Stock in the future. 
 “Subsidiary”: Any corporation or other entity that stands in a
relationship to the Company that would result in the Company and such corporation or other entity being treated as one employer under Section 414(b) or Section 414(c) of the Code, except that in determining eligibility for the grant of a
Stock Option or SAR by reason of service for a Subsidiary, Sections 414(b) and 414(c) of the Code shall be applied by substituting “at least 50%” for “at least 80%” under Section 1563(a)(1), (2) and (3) of the Code
and Treas. Regs. § 1.414(c)-2; provided, that to the extent permitted under Section 409A, “at least 20%” shall be used in lieu of “at least 50%”; and further provided, that the lower ownership
threshold described in this definition (50% or 20% as the case may be) shall apply only if the same definition of affiliation is used consistently with respect to all compensatory stock options or stock awards (whether under the Plan or

  
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another plan). The Company may at any time by amendment provide that different ownership thresholds (consistent with Section 409A) apply. Notwithstanding the foregoing provisions of this
definition, except as otherwise determined by the Administrator a corporation or other entity shall be treated as a Subsidiary only if its employees would be treated as employees of the Company for purposes of the rules promulgated under the
Securities Act of 1933, as amended, with respect to the use of Form S-8. 
 “Unrestricted Stock”: Stock not
subject to any restrictions under the terms of the Award. 

  
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 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 
 2011 Deferred Stock Award Agreement 
 Subject to your acceptance of the terms set
forth in this agreement (the “Agreement”), State Street Corporation (the “Company”) has awarded you a contingent right to receive the number of shares of Stock (the “Deferred Shares”) (the “Award”) detailed in
your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”) and pursuant to the State Street Corporation 2006 Equity Incentive Plan, as amended (the “Plan”) and the terms set forth below. A
copy of the Plan document and the Company’s U.S. Prospectus are located on this website for your reference. The provisions of the Plan are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the
Plan, except as otherwise expressly provided herein. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan, the provisions of the Plan shall control. 

The terms of your Award, are as follows: 
  

	1.	Grant of Deferred Stock Award. 

 To be entitled to any payment under the Award, you must accept your Award and in so doing agree to comply with the terms and conditions of this Agreement and Appendix A (which is incorporated into, and
forms a part of, this Agreement). Failure to accept the Award within 120 days of the delivery of the Statement will result in forfeiture of the Award.1 Subject to paragraphs 4 and 5 and this paragraph 1, your right to receive shares of Stock shall vest according to the
vesting schedule detailed in your Statement. The term “vest” as used herein means the lapsing of the restrictions described herein and in the Plan with respect to one or more shares of Stock. To vest in all or any portion of this Award as
of any date, you must have been continuously employed with the Company or any Subsidiary from and after the date hereof and until (and including) the applicable vesting date, except as otherwise provided herein. 

 

	2.	Form of Payment; Shareholder Rights. 

 Shares of Stock will be issued and transferred to you, pursuant to the vesting schedule in your Statement, only if and when all requirements of this Agreement have been satisfied. Prior to that time you
will have no rights as a shareholder with respect to the Deferred Shares. Without limiting the foregoing, you will have no right to receive dividends or amounts in lieu of dividends with respect to the Deferred Shares and no right to vote the
Deferred Shares. The Company’s obligation to issue and transfer Stock in the future pursuant to the Agreement is an unsecured and unfunded contractual obligation. 
  

	3.	Payment of Stock. 

 Except as
provided for below, the Award shall vest according to the vesting schedule detailed in your Statement. Upon your becoming vested, the Company will issue and transfer to you, upon 

 

	1 	 For purposes of clarity the 120 day period shall run from date of delivery of your Statement. Should the end of this period fall on a non-business day
this period shall extend until the next succeeding business day. 

  
 DSA 

	 	 
but no later than 60 days following such vesting dates, the number of shares of Stock specified. 

 

	4.	Termination of Employment. 

 (a) In the event you cease to be employed by the Company and its Subsidiaries due to Circumstances of Forfeiture, you will immediately forfeit any and all rights to receive shares of Stock under this
Agreement, less any shares that have previously vested. 
 (b) If your employment terminates by reason of Retirement, Disability
or for reasons other than for Circumstances of Forfeiture, your unvested right to receive shares of Stock shall continue to vest in accordance with the vesting schedule detailed in your Statement and subject to the restrictions in Appendix A.

 (c) For purposes hereof: 
 (i) “Circumstances of Forfeiture” means the termination of your employment with the Company and its Subsidiaries either (A) voluntarily (other than Retirement) or (B) involuntarily for
reasons determined by the Company in its sole and exclusive discretion to constitute “gross misconduct” (including while you are Retirement eligible). 

(ii) “Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its
Subsidiaries. 
 (iii) “Disability” means (A) your inability to engage in any substantially
gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”) or
(B) if you, as a result of the impairment described in subparagraph (A), receive income replacement benefits for a period of not less than 3 months under a plan of the Company or a Subsidiary. 

 

	5.	Acceleration of Award. 

 (a) If you die while employed by the Company or its Subsidiaries, or in the event that you die after your employment has terminated for a reason permitting continued vesting pursuant to subparagraph 4(b)
above, the Award shall become fully vested on the date of your death and the Company will issue and deliver to your beneficiary (designated in accordance with the terms of the Plan) within 60 days of your death any shares under this Award that you
had not otherwise had a right to receive prior to your death. 
 (b) In the event that a Change in Control as defined in the
Plan (and provided that such Change in Control constitutes a “change in control event” as that term is defined under Section 409A of the Internal Revenue Code of 1986, as amended, (the “Code”) and Treasury Regulations
1.409A-3(i)(5)) occurs prior to the full settlement of your Award, the Award shall become fully vested on the date of such Change in Control and the Company will promptly issue and deliver to you within 30 days of such Change in Control any shares
under this Award that you had not otherwise had a right to receive prior to such Change in Control. 
  

	6.	Withholding. 

 Regardless of any
action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of
other tax-related withholding (“Tax-

  
 DSA 

 
Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility. Furthermore, the Company and/or your Employer
(a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant of the Award, the vesting of the Award and the issuance of shares of Stock in
settlement, the subsequent sale of any shares of Stock acquired upon vesting and the receipt of any dividends and/or dividend equivalents; and (b) do not commit to structure the terms of the grant or any aspect of the Award to reduce or
eliminate your liability for Tax-Related Items. 
 Prior to the delivery of the Stock upon the vesting of the Award, if any taxing jurisdiction
requires withholding of Tax-Related Items, the Company may withhold a sufficient number of whole shares of Stock otherwise issuable upon the vesting of the Award that have an aggregate fair market value sufficient to pay the minimum Tax-Related
Items required to be withheld with respect to the Award; provided, however, that the total tax withholding cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state
tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). The cash equivalent of the shares of Stock withheld will be used to settle the obligation to withhold the Tax-Related Items (determined in the
Company’s reasonable discretion). No fractional shares of Stock will be withheld or issued pursuant to the grant of the Deferred Shares and the issuance of Stock hereunder. Alternatively, the Company and/or your Employer may, in its discretion,
withhold any amount necessary to pay the Tax-Related Items from your salary or other amounts payable to you, with no withholding in shares of Stock. In the event the withholding requirements are not satisfied through the withholding of shares of
Stock or through your salary or other amounts payable to you, no shares of Stock will be issued upon vesting of the Award unless and until satisfactory arrangements (as determined by the Company or Employer) have been made by you with respect to the
payment of any Tax-Related Items which the Company and your Employer determines, in its sole discretion, must be withheld or collected with respect to such Award. By accepting the grant of this Award, you expressly consent to the withholding of
shares of Stock and/or cash as provided for hereunder. All other Tax-Related Items related to the Award and any Stock delivered in payment thereof are your sole responsibility. 

 

	7.	Changes in Capitalization or Corporate Structure. 

 The number and kind of Deferred Shares subject to this Award, and the number and kind of shares of Stock to be delivered in satisfaction of the Company’s obligations hereunder, shall be subject to
adjustment in accordance with Section 7(b) of the Plan. 
  

	8.	Employee Rights. 

 Nothing in this
Award shall be construed to guarantee you any right of employment with the Company or any Subsidiary or to limit the discretion of any of them to terminate your employment at any time, with or without cause. 

 

	9.	Non-Transferability, Etc. 

 This
Award shall not be transferable other than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death, by your beneficiary) to assign or transfer the Award, either voluntarily or involuntarily, contrary to the
provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 

  
 DSA 

	10.	Compliance with Section 409A of the Code. 

 The provisions of this Award are intended to be exempt from, or compliant with, Section 409A of the Code, and shall be construed and interpreted consistently therewith. Notwithstanding the foregoing,
the Company shall have no liability to you or to any other person if the Award is not so exempt or compliant. 
  

	11.	Miscellaneous. 

  

	 	(b)	The grant of the awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in
the future. 

  

	 	(c)	The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your participation in the Plan, to the
extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with applicable laws or regulations or to facilitate the administration of the Plan. Such requirements may include (but
are not limited to) requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing. 

  

	 	(d)	Your participation in the Plan is voluntary. The value of the your Award under the Plan is an extraordinary item of compensation and this Award is not part of your
normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments. 

 

	 	(e)	The Company may, in its sole discretion, decide to deliver any documents related to the Award granted under the Plan by electronic means. You hereby consent to receive
such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company, Morgan Stanley Smith Barney or another third party designated by the Company.

  

	 	(f)	By accepting this Award electronically, you will be deemed to have acknowledged and agreed that you are bound by the terms of this Agreement and the Plan, and it shall
be deemed to have been accepted by the Company. 

  

	 	(g)	You acknowledge and agree that it is your express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or
instituted pursuant to the Award, be drawn up in English. If you have received the Agreement, the Plan or any other documents related to the Award translated into a language other than English, and if the meaning of the translated version is
different than the English version, the English version will control. 

  

	 	(h)	 Notwithstanding any provisions of this Agreement to the contrary, the Award shall be subject to any special terms and conditions for your country of
residence (and country of employment, if different), as are set forth in the applicable Addendum to the Agreement. Further, if you transfer residence and/or employment to another country reflected in an Addendum to the Agreement, the special terms
and conditions for such country will apply to you to the extent the 

  
 DSA 

	 	 
Company determines, in its sole discretion, that the application of such terms are necessary or advisable in order to comply with applicable laws or regulations or to facilitate administration of
the Plan. Any applicable Addendum shall constitute part of the Agreement. 

  
 DSA 

 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 
 Restricted Stock Unit Award Agreement with Performance Criteria 
 Subject to your
acceptance of the terms set forth in this agreement (the “Agreement”), State Street Corporation (the “Company”), has awarded you a Restricted Stock Unit Award, under the Company’s 2006 Equity Incentive Plan, as amended (the
“Plan”), which shall be payable if certain performance and other conditions are satisfied as described below. A copy of the Plan document and the Company’s U.S. Prospectus are located on this website for your reference. The provisions
of the Plan are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the Plan, except as otherwise expressly provided herein. In the event of any conflict between the provisions of this Agreement and
the provisions of the Plan, the provisions of the Plan shall control. 
  

	1.	Grant of Performance Award. 

 You
have been granted an award (the “Award”) of restricted stock units, as detailed in your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”) subject to the terms of the Plan and this
Agreement. To be entitled to any payment under the Award, you must accept your Award and in so doing agree to comply with the terms and conditions of this Agreement and Appendix A (which is incorporated into, and forms a part of, this Agreement).
Failure to accept the Award within 120 days of the delivery of the Statement will result in forfeiture of the Award. The Award will be payable based in part on performance measures (described below and in Exhibit I) over the calendar year period
shown on Exhibit I (the “Performance Period”). 
  

	2.	Performance Targets; Administrator Certification. 

 Whether your Award will be paid and in what amounts will depend on achievement of GAAP return on equity (“ROE”) as described in Exhibit I during the Performance Period and the other terms and
conditions as set forth herein. 
 The specific ROE performance targets for the Performance Period are established and set forth on Exhibit I
attached hereto and made a part hereof. Subject to the other terms and conditions of the Award, payment under this Award will only be made if the Administrator certifies, following the close of the Performance Period, that the pre-established
threshold performance targets have been exceeded and then only to the extent of the level of performance so certified as having been achieved. 
  

	3.	Form of Payment. 

 Any portion of
the Award earned by reason of the Administrator’s certification as described above will vest and be payable in shares of the Company’s common stock (“Stock”) to you (or your beneficiary, in the case of your death) in four equal
annual installments between January 1 and April 30 beginning after the end of the Performance Period and during the same period in the immediately succeeding three calendar years, as shown on Exhibit I. The total number of shares of Stock
to be paid will be determined by multiplying the number of units referred to in your Statement by the Total Vesting Percentage. For this purpose, “Total Vesting Percentage” means the vesting percentage achieved for the ROE performance
target for the Performance Period, as provided in Exhibit I and certified by the Administrator. 

  
 RSU 

	4.	Non – Transferability, Etc. 

This Award shall not be transferable otherwise than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death,
your beneficiary) to assign or transfer the Award, either voluntarily or involuntarily, contrary to the provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 

 

	5.	Termination of Employment. 

 (a) No amount shall be paid in respect of the Award in the event that you cease to be employed by the Company and its Subsidiaries due to Circumstances of Forfeiture prior to the date of payment. If your
employment with the Company and its Subsidiaries ceases by reason of Retirement, Disability, death, or any reason other than for Circumstances of Forfeiture, then you shall be eligible to receive a payment under this Award subject to the
certification of the Administrator in accordance with paragraph 2 and your compliance with Appendix A. Any amount payable pursuant to this paragraph 5 shall be paid in accordance with paragraph 3. 

(b) For purposes hereof: 
 (i) “Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its Subsidiaries. 

(ii) “Disability” means (A) your inability to engage in any substantially gainful activity by reason of any
medically determinable physical or mental impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”) or (B) if you, as a result of the
impairment described in subparagraph (A), receive income replacement benefits for a period of not less than 3 months under a plan of the Company or a Subsidiary. 

(iii) “Circumstances of Forfeiture” means the termination of your employment with the Company and its
Subsidiaries either (A) voluntarily (other than Retirement) or (B) involuntarily for reasons determined by the Company in its sole and exclusive discretion to constitute “gross misconduct” (including in situation where you are
Retirement eligible). 
  

	6.	Acceleration of Performance Award. 

Notwithstanding anything in this Agreement to the contrary, in the event of a Change in Control occurring prior to the full settlement of your Award, you
shall be entitled within 30 days of such Change in Control to receive a cash payment equal to the adjusted fair market value of a share of the Stock (1) multiplied by the number of units referred to in your Statement, (2) in the case of a
Change in Control occurring after the end of the Performance Period, further multiplied by the Total Vesting Percentage, and (3) decreased by the number of units paid in accordance with paragraph 3 prior to the date of such Change in Control;
provided, to the extent an Award or any portion thereof constitutes “nonqualified deferred compensation” within the meaning of Section 409A of the Code, that such Change in Control constitutes a “change in control event” as
that term is defined under Section 409A of the Internal Revenue Code of 1986, as amended, (the “Code”) and Treasury Regulations 1.409A-3(i)(5). For purposes of the preceding sentence, “adjusted fair market value” shall mean
the higher of the (i) the highest average of the reported daily high and low prices per share of the Stock during the 60-day period prior to the first date of actual knowledge by the Board of circumstances that resulted in a Change in Control,
and (ii) if the Change in Control is the result of a transaction or series of transactions described in paragraph 1 or 2 of the definition of Change in Control in the Plan, the highest price per share of the Stock

  
 RSU 

 
paid in such transaction series of transactions (which in the case of a transaction described in paragraph 1 of such definition in the Plan shall be the highest price per share of the Stock as
reflected in a Schedule 13D filed by the person having made the acquisition). 
  

	7.	Changes in Capitalization or Corporate Structure. 

 The Award is subject to adjustment pursuant to Section 7(b) of the Plan in the circumstances therein described. 
  

	8.	Amendments to Performance Units. 

Subject to the specific limitations set forth in the Plan, the Administrator may at any time suspend or terminate any rights or obligations relating to
the Award prior to the full settlement of your Award without your consent. 
  

	9.	Compliance with Section 162(m). 

 The Administrator shall exercise its discretion with respect to this Award so as to preserve the deductibility of payments under the Award against disallowance by reason of Section 162(m) of the
Code, where applicable. 
  

	10.	Shareholder Rights. 

 You are not
entitled to any rights as a shareholder with respect to any shares of Stock subject to the Award until they are transferred to you. Without limiting the foregoing, you will have no right to receive dividends or amounts in lieu of dividends with
respect to the shares of Stock subject to the Award nor any right to vote the shares of Stock prior to any shares being transferred to you. 
  

	11.	Withholding. 

 Regardless of any
action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of
other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility. Furthermore, the Company and/or your Employer (a) make
no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant of the Award, the vesting of the Award and the issuance of shares of Stock in settlement, the
subsequent sale of any shares of Stock acquired upon vesting and the receipt of any dividends and/or dividend equivalents; and (b) do not commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate your
liability for Tax-Related Items. 
 Prior to the delivery of any Stock upon the vesting of the Award, if any taxing jurisdiction requires
withholding of Tax-Related Items, the Company may withhold a sufficient number of whole shares of Stock otherwise issuable upon the vesting of the Award that have an aggregate fair market value sufficient to pay the minimum Tax-Related Items
required to be withheld with respect to the Award; provided, however, that the total tax withholding cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax
purposes, including payroll taxes, that are applicable to such supplemental taxable income). The cash equivalent of the shares of Stock withheld will be used to settle the obligation to withhold the Tax-Related Items (determined in the
Company’s reasonable discretion). No fractional shares of Stock will be withheld or issued pursuant to the issuance of Stock hereunder. Alternatively, the Company and/or your Employer may, in its

  
 RSU 

 
discretion, withhold any amount necessary to pay the Tax-Related Items from your salary or other amounts payable to you, with no withholding in shares of Stock. In the event the withholding
requirements are not satisfied through the withholding of shares of Stock or through your salary or other amounts payable to you, no shares of Stock will be issued upon vesting of the Award unless and until satisfactory arrangements (as determined
by the Company or Employer) have been made by you with respect to the payment of any Tax-Related Items which the Company and your Employer determines, in its sole discretion, must be withheld or collected with respect to such Award. By accepting the
grant of this Award, you expressly consent to the withholding of shares of Stock and/or cash as provided for hereunder. All other Tax-Related Items related to the Award and any Stock delivered in payment thereof are your sole responsibility.

  

	12.	Employee Rights. 

 Nothing in this
Award shall be construed to guarantee you any right of employment with the Company or any Subsidiary or to limit the discretion of any of them to terminate your employment at any time, with or without cause. 

 

	13.	Provisions of the Plan. 

 The
provisions of the Plan are incorporated herein by reference, and all terms not otherwise defined herein shall have the meaning given to them in the Plan. In the event of any conflict between the provisions of this Agreement and the provisions of the
Plan, the provisions of the Plan shall control. You acknowledge that you have received a copy of the Plan and a copy of the U.S. Prospectus for the Plan. 
 If the Award and the foregoing terms and conditions are acceptable to you, please sign the enclosed counterpart of this letter and return the same to the undersigned. By signing this letter, you
acknowledge and agree that you are bound by the terms of the Agreement and the Plan. 
  

	14.	Compliance with Section 409A of the Code. 

 The provisions of this Award are intended to be exempt from, or compliant with, Section 409A of the Code, and shall be construed and interpreted consistently therewith. Notwithstanding the foregoing,
the Company shall have no liability to you or to any other person if the Award is not so exempt or compliant. Each installment of the Award paid in accordance with paragraph 3 shall be treated as a separate payment for purposes of Section 409A
of the Code. 
  

	15.	Miscellaneous 

 a)
The grant of awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in the future. 
 b) The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your participation in the Plan, to the extent the Company determines,
in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the administration of the Plan. Such requirements may include (but are not limited to) requiring you to sign any
agreements or undertakings that may be necessary to accomplish the foregoing. 
 c) Your participation in the Plan is voluntary.
The value of the your Award under the Plan is an extraordinary item of compensation and this Award is not part of your normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments,
bonuses, long-service awards, pension, or retirement benefits or similar payments. 

  
 RSU 

 d) The Company may, in its sole discretion, decide to deliver any documents related to the
Award granted under the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company, Morgan
Stanley Smith Barney or another third party designated by the Company. 
 e) By accepting this Award electronically, you will be
deemed to have acknowledged and agreed that you are bound by the terms of this Agreement and the Plan, and it shall be deemed to have been accepted by the Company. 
 f) You acknowledge and agree that it is your express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or instituted pursuant to the Award, be
drawn up in English. If you have received the Agreement, the Plan or any other documents related to the Award translated into a language other than English, and if the meaning of the translated version is different than the English version, the
English version will control. 
 g) Notwithstanding any provisions of this Agreement to the contrary, the Award shall be subject
to any special terms and conditions for your country of residence (and country of employment, if different), as are set forth in the applicable Addendum to the Agreement. Further, if you transfer residence and/or employment to another country
reflected in an Addendum to the Agreement, the special terms and conditions for such country will apply to you to the extent the Company determines, in its sole discretion, that the application of such terms are necessary or advisable in order to
comply with local law or to facilitate administration of the Plan. Any applicable Addendum shall constitute part of the Agreement. 

  
 RSU 

 STATE STREET CORPORATION 

2006 EQUITY INCENTIVE PLAN 
 SSgA Performance-Based Equity Award Agreement 
 Subject to your acceptance of the
terms set forth in this agreement (the “Agreement”), State Street Corporation (the “Company”), has awarded you a Performance Award, granted to you under the State Street Global Advisors (“SSgA”) 2011 Performance-Based
Equity Program under the 2006 Equity Incentive Plan of State Street Corporation (the “Company”), as amended (the “Plan”), which shall be payable if certain performance and other conditions are satisfied as described below. A copy
of the Plan document and the Company’s U.S. Prospectus are located on this website for your reference. The provisions of the Plan are incorporated herein by reference, and all terms used herein shall have the meaning given to them in the Plan,
except as otherwise expressly provided herein. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan, the provisions of the Plan shall control. 

 

	1.	Grant of Performance Award. 

 You
have been granted an award (the “Award”) of restricted stock units, as detailed in your Award information on the website maintained by Morgan Stanley Smith Barney (the “Statement”) and pursuant to the SSgA 2011 Performance-Based
Equity Program under the Plan and the terms set forth below. To be entitled to any payment under the Award, you must accept your Award and in so doing agree to comply with the terms and conditions of this Agreement and the Award. All terms and
conditions of this Award must have been satisfied. The Award will be payable based in part on the achievement by SSgA of certain performance measures (described below and in Exhibit I) over the calendar-year period shown on Exhibit I (the
“Performance Period”). The December 31 on which the calendar-year Performance Period ends is referred to herein as the “Maturity Date.” 
  

	2.	Performance Targets; Administrator Certification. 

 Whether your Award will be paid and in what amounts will depend on SSgA’s achievement of Net Income Before Taxes (“NIBT”) growth during the Performance Period and the other terms and
conditions as set forth herein. 
 The specific NIBT performance targets for the Performance Period were established by the Administrator as set
forth on Exhibit I attached hereto and made a part hereof. Subject to the other terms and conditions of the Award, payment under this Award will only be made if the Administrator certifies, following the close of the Performance Period, that the
pre-established threshold performance targets have been exceeded on the Maturity Date and then only to the extent of the level of performance so certified as having been achieved. 

 

	3.	Form of Payment. 

 Any portion of
the Award earned by reason of the Administrator’s certification as described above will be payable in shares of the Company’s common stock (“Stock”) to you (or your beneficiary, in the case of your death) between January 1
and April 30 next following the second anniversary of the Maturity Date. The number of shares of Stock to be paid will be determined by multiplying the number of units set forth in your Statement by the Total Funding Percentage. For this
purpose, “Total Funding Percentage” means the funding percentage achieved for the NIBT performance target, for the Performance Period as certified by the Administrator. 

	4.	Non – Transferability, Etc. 

This Award shall not be transferable otherwise than by will or the laws of descent and distribution. Any attempt by you (or in the case of your death,
your beneficiary) to assign or transfer the Award, either voluntarily or involuntarily, contrary to the provisions hereof, shall be null and void and without effect and shall render the Award itself null and void. 

 

	5.	Termination of Employment. 

 (a) No amount shall be paid in respect of the Award in the event that you cease to be employed by the Company and its Subsidiaries due to Circumstances of Forfeiture prior to the date of payment. If your
employment with the Company and its Subsidiaries ceases by reason of: Retirement, Disability, death or any reason other than for Circumstances of Forfeiture, then you shall be eligible to receive an Award based on the certification under paragraph
2, subject to your compliance with paragraph (b) below and Section 6. Any amount payable pursuant to this paragraph 5 shall be paid in accordance with paragraph 3. 
 (b) Payment to you of any Award otherwise than by reason of your death shall be subject to the conditions that until the date on which the Award is paid you 

(i) shall not, without the prior written consent of the Company, (A)(1) solicit, directly or indirectly (other than
through a general solicitation of employment not specifically directed to employees of the Company and its Subsidiaries) the employment of, (2) hire or employ, (3) recruit, or (4) in any way assist another in soliciting or recruiting
the employment of, or (B) induce the termination of the employment of, any person who within the previous 12 months was an officer or principal of the Company or any of its Subsidiaries; and 

(ii) shall not, without the prior written consent of the Company, engage in the Solicitation of Business (as defined
below) from any client on behalf of any person or entity other than the Company and its Subsidiaries. 
 The term “Solicitation of
Business” means the attempt through direct or indirect contact by you or by any other person or entity with your assistance with a client with whom you have had or with whom persons supervised by you have had significant personal contact while
employed by the Company and its Subsidiaries to induce such client to (A) transfer its business from the Company and its Subsidiaries to any other person or entity, (B) cease or curtail its business with the Company and its Subsidiaries,
or (C) divert a business opportunity from the Company and its Subsidiaries to any other person or entity. If you do not comply with the above conditions, you shall forfeit all rights to any and all unpaid or unvested equity awards held by you,
and the Company may seek injunctive relief in addition to, and not in lieu of, any other relief to which it may be entitled. Any determination by the Administrator that you are, or have engaged in any prohibited conduct as described above shall be
conclusive and binding on all persons. Notwithstanding the foregoing, this paragraph 5 (b) shall be inapplicable following a Change of Control or the Administrator’s determination that a Covered Transaction has occurred. 

(c) For purposes hereof: 
 (i) “Retirement” means your attainment of age 55 and completion of 5 years of service with the Company and its Subsidiaries. 

(ii) “Disability” means (A) your inability to engage in any substantially gainful activity by reason of any
medically determinable physical or mental impairment that can be expected to result in your death or can be expected to last for a continuous period of not less than 12 months (an “impairment”) or (B) if you, as a result of the

 
impairment described in subparagraph (A), receive income replacement benefits for a period of not less than 3 months under a plan of the Company or a Subsidiary. 

(iii) “Circumstances of Forfeiture” means the termination of your employment with the Company and its
Subsidiaries either (A) voluntarily (other than Retirement) or (B) involuntarily for reasons determined by the Company in its sole and exclusive discretion to constitute “gross misconduct” (including in a situation where you are
Retirement eligible). 
 (iv) “Covered Transaction” means the sale by the Company of all or
substantially all of the assets of SSgA as determined by the Administrator. 
  

	6.	Non-Competition. 

 By signing this
Agreement and accepting the Award, you, for and during a period of 12 months following your termination of employment with the Company and all of its Subsidiaries for any reason (other than death), shall not engage, either directly or indirectly, in
any manner or capacity as advisor, principal, agent, partner, officer, director or employee of, or as consultant to Fidelity Investments, The Vanguard Group, Inc., Wellington Management Co, LLP, Bank of NY Mellon CP, Goldman Sachs Asset Management
LP, BlackRock Inc. (each an “Institution”) For purposes of this paragraph 6(b) each Institution shall also include any subsidiary and affiliate of the Institution, including any successor entity to an Institution, by way of merger,
acquisition (either of stock or substantially all of the assets), reorganization, change of name or other similar event occurring subsequent to the date of this Award. If you do not comply with the above conditions, you shall forfeit all rights to
any and all unpaid or unvested equity awards then held by you, and the Corporation may seek injunctive relief in addition to, and not in lieu of, any other relief to which it may be entitled. Notwithstanding the foregoing, this paragraph 6 shall be
inapplicable following a Change of Control. 
  

	7.	Acceleration of Performance Award. 

Notwithstanding anything in this Agreement to the contrary, in the event of a Change in Control, as defined in the Plan, or a Covered Transaction,
occurring prior to the full settlement of your Award, you shall be entitled, within 30 days of the date of such Change in Control or Covered Transaction to receive a cash payment equal to the adjusted fair market value of a share of the Stock
(1) multiplied by the number of units set forth in your Statement, and, in the case of a Change in Control occurring after the end of the Performance Period, (2) multiplied further by the Total Funding Percentage; provided that such Change
in Control or Covered Transaction constitutes a “change in control event” as that term is defined under Section 409A of the Internal Revenue Code of 1986, as amended, (the “Code”) and Treasury Regulations 1.409A-3(i)(5). For
purposes of the preceding sentence, “adjusted fair market value” shall mean the higher of the (i) the highest average of the reported daily high and low prices per share of the Stock during the 60-day period prior to the first date of
actual knowledge by the Board of circumstances that resulted in a Change in Control or Covered Transaction, and (ii) if the Change in Control or Covered Transaction is the result of a transaction or series of transactions described in paragraph
1 or 2 of the definition of Change in Control in the Plan, the highest price per share of the Stock paid in such transaction or series of transactions (which in the case of a transaction described in paragraph 1 of such definition in the Plan shall
be the highest price per share of the Stock as reflected in a Schedule 13D filed by the person having made the acquisition). 
  

	8.	Changes in Capitalization or Corporate Structure. 

 The Award is subject to adjustment pursuant to Section 7(b) of the Plan in the circumstances therein described. 

	9.	Amendments to Performance Units. 

Subject to the specific limitations set forth in the Plan, the Administrator may at any time suspend or terminate any rights or obligations relating to
the Award prior to the full settlement of your Award without your consent. 
  

	10.	Compliance with Section 162(m). 

 The Administrator shall exercise its discretion with respect to this Award so as to preserve the deductibility of payments under the Award against disallowance by reason of Section 162(m) of the
Code, where applicable. 
  

	11.	Shareholder Rights. 

 You are not
entitled to any rights as a shareholder with respect to any shares of Stock subject to the Award until they are transferred to you. Without limiting the foregoing, you will have no right to receive dividends or amounts in lieu of dividends with
respect to the shares of Stock subject to the Award or any right to vote such shares prior to any shares being transferred to you. 
  

	12.	Withholding. 

 Regardless of any
action the Company or the Subsidiary that employs you (the “Employer”) takes with respect to any or all income tax (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account of
other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility. Furthermore, the Company and/or your Employer (a) make
no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant of the Award, the vesting of the Award and the issuance of shares of Stock in settlement, the
subsequent sale of any shares of Stock acquired upon vesting and the receipt of any dividends and/or dividend equivalents; and (b) do not commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate your
liability for Tax-Related Items. 
 Prior to the delivery of any Stock upon the vesting of the Award, if any taxing jurisdiction requires
withholding of Tax-Related Items, the Company may withhold a sufficient number of whole shares of Stock otherwise issuable upon the vesting of the Award that have an aggregate fair market value sufficient to pay the minimum Tax-Related Items
required to be withheld with respect to the Award; provided, however, that the total tax withholding cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax
purposes, including payroll taxes, that are applicable to such supplemental taxable income). The cash equivalent of the shares of Stock withheld will be used to settle the obligation to withhold the Tax-Related Items (determined in the
Company’s reasonable discretion). No fractional shares of Stock will be withheld or issued pursuant to the issuance of Stock hereunder. Alternatively, the Company and/or your Employer may, in its discretion, withhold any amount necessary to pay
the Tax-Related Items from your salary or other amounts payable to you, with no withholding in shares of Stock. In the event the withholding requirements are not satisfied through the withholding of shares of Stock or through your salary or other
amounts payable to you, no shares of Stock will be issued upon vesting of the Award unless and until satisfactory arrangements (as determined by the Company or Employer) have been made by you with respect to the payment of any Tax-Related Items
which the Company and your Employer determines, in its sole discretion, must be withheld or collected with respect to such Award. By accepting the grant of this Award, you expressly consent to the withholding of shares of Stock and/or cash as
provided for hereunder. All other Tax-Related Items related to the Award and any Stock delivered in payment thereof are your sole responsibility. 

	13.	Employee Rights. 

 Nothing in this
Award shall be construed to guarantee you any right of employment with the Company or any Subsidiary or to limit the discretion of any of them to terminate your employment at any time, with or without cause. 

 

	14.	Provisions of the Plan. 

 The
provisions of the Plan are incorporated herein by reference, and all terms not otherwise defined herein shall have the meaning given to them in the Plan. In the event of any conflict between the provisions of this Agreement and the provisions of the
Plan, the provisions of the Plan shall control. You acknowledge that you have received a copy of the Plan and a copy of the U.S. Prospectus for the Plan. 
  

	15.	Compliance with Section 409A of the Code. 

 The provisions of this Award are intended to be exempt from, or compliant with, Section 409A of the Code, and shall be construed and interpreted consistently therewith. Notwithstanding the foregoing,
the Company shall have no liability to you or to any other person if the Award is not so exempt or compliant. 
  

	16.	Miscellaneous 

 h)
The grant of awards under the Plan is a one-time benefit and does not create any contractual or other right to receive an award or benefits in lieu of an award in the future. 
 i) The Company reserves the right to impose other requirements on the Award, any shares of Stock acquired pursuant to the Award, and your participation in the Plan, to the extent the Company determines,
in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the administration of the Plan. Such requirements may include (but are not limited to) requiring you to sign any
agreements or undertakings that may be necessary to accomplish the foregoing. 
 j) Your participation in the Plan is voluntary.
The value of the your Award under the Plan is an extraordinary item of compensation and this Award is not part of the your normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments,
bonuses, long-service awards, pension, or retirement benefits or similar payments. 
 k) The Company may, in its sole
discretion, decide to deliver any documents related to the Award granted under the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic
system established and maintained by the Company, Morgan Stanley Smith Barney or another third party designated by the Company. 

l) By accepting this Award electronically, you will be deemed to have acknowledged and agreed that you are bound by the terms of this
Agreement and the Plan, and it shall be deemed to have been accepted by the Company. 
 m) You acknowledge and agree that it is
your express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or instituted pursuant to the Award, be drawn up in English. If you have received the Agreement, the Plan or any other
documents related to the Award translated into a language other than English, and if the meaning of the translated version is different than the English version, the English version will control. 

 n) Notwithstanding any provisions of this Agreement to the contrary, the Award shall be
subject to any special terms and conditions for your country of residence (and country of employment, if different), as are set forth in the applicable Addendum to the Agreement. Further, if you transfer residence and/or employment to another
country reflected in an Addendum to the Agreement, the special terms and conditions for such country will apply to you to the extent the Company determines, in its sole discretion, that the application of such terms are necessary or advisable in
order to comply with local law or to facilitate administration of the Plan. Any applicable Addendum shall constitute part of the Agreement.

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