Document:

EX-10.1

 Exhibit 10.1 
 RELEASE OF ALL CLAIMS 
 This Release of All Claims (“Release”) is made
and entered into by and between Gary W. Banbury (hereinafter sometimes referred to as “Employee”), and Allied Nevada Gold Corporation (hereinafter sometimes referred to as the “Company”). 

WITNESSETH: 

WHEREAS, Employee’s employment with the Company terminated as a result of Employee’s voluntary resignation, and Employee and
the Company desire to settle fully and finally all differences between them in connection with Employee’s departure from the Company. Consequently, in consideration of the mutual covenants and promises herein contained and other good and
valuable consideration, the value of which is hereby acknowledged, and to avoid unnecessary litigation, the parties agree as follows: 
 1)
Releasees. As used in this Release, the term “Company Releasees” shall include the Company and each of the Company’s successors, assigns, heirs, agents, directors, board members, officers, employees, insurers, former employees,
employee benefit plans and trusts, representatives, attorneys, parent or subsidiary entities, acquiring or acquired entities, related entities (and agents, directors, officers, employees, representatives and attorneys of such related entities), and
all persons acting by, through, under or in concert with any of them. 
 As used in this Release, the term “Employee
Releasees” shall include Employee and each of Employee’s assigns, heirs, agents, insurers, representatives, attorneys, related entities (and agents, directors, officers, employees, representatives and attorneys of such related entities),
and all persons acting by, through, under or in concert with any of them. 
 2) No Admission of Liability. This Release and compliance
with this Release shall not be construed as an admission by the Company or Employee of any liability whatsoever, or as an admission by the Company or Employee of any violation of the rights any person, violation of any order, law, statute, duty, or
contract whatsoever against the Company, Employee, or any person. 
 3) Consideration. As consideration for this Release, the Company
will pay Employee the following within 10 days of Employee signing this Release: $120,000.00 subject to normal taxes and $18,000.00 taxable for COBRA. 
 a) Adequacy of Consideration. Employee agrees that the consideration the Company is providing to Employee under this Release is sufficient, just and adequate. Employee will not seek any further
compensation in connection with the matters encompassed in this Release. 
 b) Tax Issues. Employee is hereby advised
that the severance amount is likely to be considered taxable income and subject to disclosure to the appropriate taxing authorities. Employee is hereby advised that he should consult a tax expert with any relevant tax questions. Employee agrees to
pay federal or state taxes, if any, which are required by law to be paid with respect to this severance and Release. Employee further agrees to indemnify, defend and hold Releasees harmless from any claims, demands, deficiencies, levies,
assessments, executions, judgments or recoveries by any governmental entity against Releasees for any amounts claimed due on account of this Release. 
 4) No Claims and Covenant Not to Sue. Employee represents that he has not filed any complaints, claims, charges, appeals, or actions against the Company Releasees with any state, federal, or local
agency or court and that he will not do so at any time hereafter. Nothing in this Release shall be construed to prohibit Employee from filing a charge or complaint with the Equal Employment Opportunity Commission, the

 
National Labor Relations Board (NLRB), or any other federal, state or local agency charged with the enforcement of any employment laws, challenging the validity of this Release or participating
in any investigation or proceeding conducted by such agency. With regard to the release of claims under the Age Discrimination in Employment Act (“ADEA”) and the Older Workers Benefit Protection Act (“OWBPA”), Employee may
challenge the knowing and voluntary nature of this release as it extends to such age discrimination claims. However, Employee is hereby releasing and forever waiving any private right to sue. The Company similarly represents that it has not filed
any complaints, claims, charges, appeals, or actions against the Employee Releasees with any state, federal, or local agency or court and that it will not do so at any time hereafter. 
 5) Confidential Information. Employee hereby represents and acknowledges that in the course of Employee’s employment with the Company, Employee has had access to and made use of certain
confidential information of actual or potential independent economic value relating to the Company Releasees’ business (“Confidential Information”). Such confidential information includes, but is not limited to existing and
contemplated services, programs, joint ventures, exploration programs, documentation and/or schematics; business, accounting and financial information and data; marketing plans and strategies; business proposals and communications; identities of
existing investors; details of current mineral exploration land packages, technical reports/studies and associated technical data; and the identity of any persons or entities associated with or engaged as consultants, advisers, or agents. Such
information is and shall be the property of the Company exclusively. Employee will not disclose or use any of the aforesaid confidential information, directly or indirectly. 
 6) Trade Secrets. Employee shall continue to keep secret and retain in the strictest confidence, and shall not disclose, publish, disseminate, or otherwise reveal or use, for the benefit of himself
or others, any of the Company’s trade secrets, defined as information which: (a) derives economic value, actual or potential, from not being generally known to the public or readily ascertainable by other persons (outside the Company) who
can obtain economic value from its disclosure or use; and (b) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy or confidentiality. 
 7) Company Property. Employee further represents that all of the Company’s property, including its files, records, documents, drawings, specifications, client lists, equipment, graphics,
designs, and similar items, including any and all copies whether prepared by Employee or otherwise coming into Employee’s possession, shall remain the exclusive property of the Company Releasees and have not and will not be removed from the
premises of the Company Releasees by Employee or Employee’s agent(s). With the exception of the Company iPad and iPhone which the Company allowed Employee to maintain as his personal property, Employee represents that all such property is no
longer in his possession. 
 8) No Disparagement. Except as otherwise required by law, Employee agrees to refrain from any publication,
oral, written or by implication, of a defamatory, disparaging or otherwise derogatory matter pertaining to the Company Releasees or to Employee’s employment relationship with the Company Releasees. Except as otherwise required by law, the
Company agrees that, as a company, it will refrain from any publication, oral and/or written, of a defamatory, disparaging or of an untruthful nature pertaining to Employee and/or Employee’s employment with the Company. (Actions by individual
Company employees in their private capacity and not on behalf of the Company which are inconsistent with this Paragraph will not amount to a breach of the Paragraph by the Company.) 
 9) Release. With the exception of any claim that the law precludes Employee from waiving by agreement, Employee irrevocably and unconditionally releases, acquits and forever discharges Releasees
from any and all charges, complaints, claims, promises, agreements, controversies, liabilities, obligations, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorney’s fees and costs
actually incurred), of any nature whatsoever, known, whether based on contract, statute or common law, or 

 
unknown which arise from any and all events occurring on or before the date of this Release, including without limitation, all claims arising from actions or inactions by any of the Releasees. To
the extent applicable law may prohibit a waiver of claims under a particular statute, Employee acknowledges that he has no valid claim under the statute. Employee does not waive or release any rights arising after the date of execution of this
Release. 
 Similarly, with the exception of any claim that the law precludes the Company from waiving by agreement, the Company
irrevocably and unconditionally releases, acquits and forever discharges the Employee Releasees from any and all charges, complaints, claims, promises, agreements, controversies, liabilities, obligations, damages, actions, causes of action, suits,
rights, demands, costs, losses, debts and expenses (including attorney’s fees and costs actually incurred), of any nature whatsoever, known, whether based on contract, statute or common law, or unknown which arise from any and all events
occurring on or before the date of this Release, including without limitation, all claims arising from actions or inactions by any of the Employee Releasees. To the extent applicable law may prohibit a waiver of claims under a particular statute,
the Company acknowledges that it has no valid claim under the statute. The Company does not waive or release any rights arising after the date of execution of this Release. 
 a) Additional Scope of Release as to Employee. In addition, and not by way of limitation, to the broad and general release set forth above, Employee specifically acknowledges and agrees that by
executing this Release he is releasing any claims against Releasees for disability discrimination in violation of the Americans with Disabilities Act of 1990 (“ADA”) (42 U.S.C. §§ 12101), any violation of the Civil Rights Act of
1964 (42 U.S.C. §§ 2000e, et. seq.)(“Title VII”), the Equal Pay Act of 1963 (29 U.S.C. § 2006(d)), any claims under 42 U.S.C. Section 1981, claims under the Employee Retirement Income Security Act (“ERISA”),
any claims under the Age Discrimination in Employment Act of 1967 (“ADEA”), the Older Workers Benefit Protection Act (“OWBPA”), the Family and Medical Leave Act (29 U.S.C. § 2601, et. seq.)(“FMLA”), the Worker
Adjustment Retraining and Notification Act, Nevada Revised Statutes §§ 613.310 to 613.430 (Employment Discrimination, Harassment and Retaliation); Nevada Revised Statutes §§ 608.005 to 608.195 (Payment and Collection of Wages and
Penalties); Nevada Revised Statutes §§ 608.250 to 608.290 (Minimum Wage); Nevada Revised Statutes §§ 612.010 to 612.760 (Unemployment Compensation Law); Nevada Revised Statutes Chapters 616A to 616D (Nevada Industrial Insurance
Act) and/or Chapter 617 (Nevada Occupational Diseases Act); Nevada Revised Statutes §§ 618.005 to 618.936 (Nevada Occupational Safety and Health Act); Nevada Genetic Information and Testing Law; Nevada Labor Relations Laws; any claims
under any state law, statute or ordinance, including state equal opportunities for employment laws and fair employment and housing laws, any claims arising under the Fair Labor Standards Act (29 U.S.C. § 201, et. seq.) and any similar state
statute, any wage, hour, tip or bonus claims arising under any federal, state or local law, any claim for retaliation, and any claims growing out of any legal restriction on the Company Releasees’ right to terminate or constructively terminate
its employees including, but not limited to, contract, tort, public policy or wrongful discharge, which arise from any and all events occurring on or before the date of this Release. This release shall also include claims for interference with
contract and/or prospective economic advantage and claims relating to or arising from any right to purchase, or actual purchase of equity or debt interests in the Company. 
 b) Waiver of Unknown Claims. Each party expressly waives all rights under Section 17.245 of the Nevada Revised Statutes, understanding and acknowledging the significance of such specific
waiver of Section 17.245, which reads as follows: 
 When a release or a covenant not to sue or not to enforce judgment is
given in good faith to one of two or more persons liable in tort for the same injury . . . : (a) It does not discharge any of the other tortfeasors from liability for the injury . . . unless its terms so provide, but it reduces the claim
against the others to the extent of any amount stipulated by the release or the covenant, or in the amount of the consideration paid for it, whichever is the greater[.] 

 This release includes, without limitation, all claims which the party does not know or suspect to exist in
his/its favor at the time he/it signs this Release. 
 c) Affirmations. Employee affirms that he reported all hours
worked as of the date of this Release and has been paid, all compensation, including wages, overtime, bonuses, commissions, vacation pay, tips, penalties, fines, shares, stock options, and/or other benefits and compensation to which Employee may
have been entitled. Employee agrees that the foregoing payment, along with any final wages paid to Employee, includes and exceeds all and other compensation due and payable to him through his last date of employment with the Company. Employee also
affirms that he received all leave (paid or unpaid) to which he was entitled, and/or that he was not denied requested leave (paid or unpaid) to which he was entitled under the Family Medical Leave Act (FMLA), the Americans With Disabilities Act
(ADA), or any other applicable federal, state, or local leave statute or law. Employee further affirms that he has no known workplace injuries or occupational diseases for which he has not filed a claim for workers’ compensation benefits.
Further, Employee affirms that all of the Company’s decisions regarding Employee’s pay and benefits through the date of Employee’s separation of employment were not discriminatory based on age, disability, race, color, sex, religion,
national origin, sexual orientation, Veteran status, or any other classification protected by law. 
 d) Mistake of Fact.
Each party expressly assumes the risk of any mistake of fact in connection with the matters compromised herein or in regard to facts relating thereto which are now unknown. In this connection, each party acknowledges and waives any provisions of law
or statute which limit in any way the giving of a general release. 
 10) Recitals. Employee understands and agrees that he: 

a) Has carefully read and fully understands all of the provisions of this Release. 

b) Is, through this Release, releasing the Company from any and all claims he may have against the Company. 

c) Is knowingly and voluntarily agreeing to all of the terms set forth in this Release, and knowingly and voluntarily intends to be
legally bound by the same. 
 d) Was advised and hereby is advised in writing to consider the terms of this Release and to
consult with an attorney of his choice prior to executing this Release and has had a reasonable period of time to consult with his attorney prior to executing this Release. Employee understands and agrees that the terms of this Release were
determined after negotiation, and as such, should not be strictly construed for or against any party. 
 e) Understands that
rights or claims under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621, et seq.) that may arise after the date this Release is executed are not waived. Employee acknowledges that this release of claims is not requested
in connection with an exit incentive program or other employment termination program offered to a group or class of employees within the meaning of OWBPA. 
 f) Has, by this Release and release, been advised to consult with an attorney of his choice before signing. Employee also understands that he has had at least twenty-one (21) full days to
consider whether to sign this Release. Any changes to this Release, whether they are material or immaterial, do not restart the 21-day period. By signing on any date prior to the expiration of the 21-day period, Employee voluntarily elects to forego
waiting 21 full days to sign the Release. Employee and the Company acknowledge and agree that for a period of seven (7) calendar days following his execution of this Release, Employee may revoke this Release, as it applies to claims under the
ADEA and/or the OWBPA, by providing the Company with written notification of such revocation. 

 11) Effective Date. This Release shall become binding and effective as of the
date and time Employee and the Company sign this Release, except for any age claims for which this Release shall become binding and effective after expiration of the seventh (7th) day after Employee signs this Release. Employee agrees that should he revoke his waiver/release of any claims or
rights under the ADEA and/or the OWBPA that is contained in this Release, pursuant to Paragraph 10(f), he is only revoking the waiver/release of those claims and rights that arise under the ADEA and the OWBPA. All non-age claims, provisions,
covenants and releases contained in this Release are not subject to being revoked after Employee signs below. Further, should Employee revoke his waiver of the applicable age claims, he understands that Employee will receive only 20% of the money
and benefits to be paid under this Release, and Employee agrees that such reduced payment represents an appropriate amount to be paid for Employee’s release of all applicable non-age claims and other provisions of this Release. Further, should
Employee revoke his release/waiver of the applicable age claims and rights, all of the remaining covenants, promises and consideration remain in effect. 
 12) Counterparts. This Release may be executed in counterparts, and each executed counterpart shall have the efficacy and validity of a signed original and with the same effect as if all parties
hereto had signed the same document. All counterparts so executed shall be deemed to be an original, shall be construed together and shall constitute one Release. Photographic copies of such executed counterparts may be used in lieu of the original
for any purpose. 
 13) Successors. This Release shall be binding upon the parties hereto and upon their heirs, administrators,
representatives, executors, successors, and assigns, and shall inure to the benefit of said parties and each of them and to their heirs, administrators, representatives, executors, successors, and assigns. Each party expressly warrants that he/it
has not transferred to any person or entity any rights, causes of action, or claims released in this Release. 
 14) Governing Law and
Consent to Personal Jurisdiction. The laws of the state of Nevada shall govern this Release. In any legal proceeding arising under this Release, venue shall be in Washoe County, Nevada, and Employee consents to personal jurisdiction in Nevada
and Washoe County. The venue choice set forth herein shall not limit or restrict the Company’s right, at its sole discretion, to pursue the equitable, injunctive or specific performance remedies set forth in this Release in any jurisdiction or
venue where Employee may be found or where a breach or threatened breach may or has occurred. 
 15) Waiver and Modification. A waiver by
either party of any term, condition or provision of this Release shall not be construed as a waiver of any other or subsequent term, condition or provision. This Release may not be altered, amended or modified, or otherwise changed in any respect
whatsoever, except by a subsequent writing executed by authorized representatives of the parties. 
 16) Representations. Each party
represents and acknowledges that in executing this Release he/it does not rely and has not relied upon any representation or statement made by Releasees or by any of Releasees’ agents, attorneys, or representatives with regard to the subject
matter of this Release, other than those specifically stated in this written Release. 
 17) Remedies and Relief. In addition to any
remedies at law or equity that may be available to each party for any breach by the other party, the non-breaching party may also seek specific performance, seek appropriate injunctive relief to prevent a breach, and seek any other relief that may
be available. Such relief shall be in addition to other remedies available and shall not constitute an election of remedies. 

 a) Costs and Attorneys’ Fees. In the event that a dispute under this Release
arises, the prevailing party shall be entitled to recover its reasonable attorney’s fees and costs incurred in pursuing or defending the matter. Any violation of this Release that relates to Employee’s assertion of any right(s) under the
ADEA or the OWBPA, shall not subject Employee to damages, costs or attorneys’ fees under this Release, except those authorized by statute. 

18) Enforceability. If any provision of this Release is determined to be to be wholly or partially illegal, invalid, contrary to public policy or
unenforceable, the legality, validity, and enforceability of the remaining parts, terms, or provisions shall not be affected thereby, and said illegal, unenforceable, or invalid part, term, or provision shall be first amended to give it/them the
greatest effect allowed by law and to reflect the intent of the parties. If modification is not possible, such term shall be severed from this Release. 
 19) Entire Release. Except for Employee’s Nondisclosure, Noncompetition, Nonsolicitation and Inventions Agreement with the Company, which is expressly incorporated by reference herein, this
Release sets forth the entire agreement between the parties and fully supersedes any and all prior or contemporaneous agreements or understandings, written or oral, between the parties pertaining to the subject matter hereof. 

20) Information to Prospective Employers. Prospective employers requesting employment information regarding Employee will be provided with neutral
information concerning the dates of employment, job title and function. 
 21) Employment Benefits. With the exception of the $18,000.00
COBRA payment included herein, the Company shall not be obligated to continue and/or provide for, or pay, Employee’s existing health, dental, and life insurance or any other benefits from or after the date of Employee’s resignation.
Employee may have the right to invoke the Consolidated Omnibus Budget Reconciliation Act of 1985, to continue certain benefits. If Employee desires to exercise such rights, he shall immediately notify Human Resources. A failure to do so may result
in a loss of benefits. This Release shall not alter Employee’s statutory rights. 
 22) Pension Benefits. After the date of
Employee’s resigation, no further contributions shall be made to the 401(k) or Profit-Sharing Plans or any other benefits plans, on behalf of Employee; however, he shall be entitled to receive any and all benefits that have vested in him solely
as determined by the terms and conditions of the Plan and Trust Agreements. 
 THE SIGNATURES BELOW ACKNOWLEDGE THAT EACH PARTY HAS READ AND
UNDERSTANDS THE FOREGOING PROVISIONS AND THAT SUCH PROVISIONS ARE REASONABLE AND ENFORCEABLE. EACH SIGNATURE BELOW ALSO ACKNOWLEDGES THAT EACH PARTY HAS SIGNED THIS RELEASE AS HIS/ITS OWN FREE AND VOLUNTARY ACT, AND THAT EACH PARTY ACKNOWLEDGES THIS
IS AN IMPORTANT AND BINDING LEGAL CONTRACT WHICH SHOULD BE REVIEWED BY AN INDEPENDENT ATTORNEY. 
  

									
	Dated:	 	June 3 2013.	 		 	By:	 	 /s/ Gary W. Banbury

		 		 		 		 	Gary W. Banbury
					
	Dated:	 	June 3 2013.	 		 	By:	 	 /s/ Stephen M. Jones

		 		 		 		 	Stephen M. Jones, EVP and CFOEX-10.1

 Exhibit 10.1 
 Summary of Employment Terms 
 May 22, 2013 

Michael Bell 
 This Summary of Employment
Terms (the “Terms Summary”) is intended to describe the initial terms of your employment by State Street Bank and Trust Company (together with its parent, State Street Corporation, and their direct and indirect subsidiaries, “State
Street” or the “Company”), should you accept State Street’s offer of employment. The Terms Summary also includes all of the terms and provisions set forth in the Restrictive Covenant Agreement attached hereto as Appendix A, which
terms and provisions form a part hereof. To accept State Street’s offer of employment, please sign and contemporaneously date one copy of this document and return it as directed below no later than ten calendar days from the date reflected
above. This offer of employment will lapse on the earlier to occur (if either) of the passing of ten calendar days from the date reflected above without your acceptance of this offer in accordance with the prior sentence or State Street’s prior
revocation. A second copy of this Terms Summary is enclosed for your records. 
  

	I.	General Terms. 

  

	 	1.	Position Details. 

 Subject to the
approval of the Board of Directors, on or about September 1, 2013, you will be employed to serve as Chief Financial Officer, with the title of Executive Vice President. Prior to that date, you will serve as an Executive Vice President in the
Finance Division and as a member of State Street’s Management Committee. At the time of your employment, you will report to the Chief Executive Officer, Joseph L. Hooley, and will be located at State Street Financial Center in Boston,
Massachusetts. 
  

	 	2.	Base Salary. 

 You will receive an
annualized base salary of $800,000, less all applicable taxes and deductions, payable in accordance with the Company’s ordinary payroll practices in effect from time to time. Your base salary and pay cycle may be adjusted from time to time at
State Street’s sole discretion and in accordance with the Company’s business practices. 
  

	 	3.	Incentive Compensation Plan Participation. 

 You will be eligible for discretionary incentive compensation awards under State Street’s incentive compensation program in effect from time to time (the “IC Program”). Any such awards may
be divided between immediately available or deferred cash- or equity-based awards or other forms of compensation. Awards under the IC Program are made at the sole discretion of State Street’s Board of Directors (the “Board”) and, in
the past, have been based upon the Company’s performance, individual performance, risk factors and such other factors as the Board or its delegates may determine in its discretion. In addition, the type, form and structure of each award, the
proportion of immediately available to deferred compensation, the terms and conditions applicable to each award (including, without limitation, applicable vesting periods, performance standards and forfeiture provisions) and the eligibility criteria
for participation in the IC Program or for receipt of one or more types of awards thereunder may be adjusted by State Street in its sole discretion at any time. 
 Incentive compensation awards with respect to any one fiscal year are typically made in the first quarter of the succeeding fiscal year. 
 You are eligible for a long-term incentive compensation award for 2013 (the “2013 LTI”), granted under and subject to the terms of the IC Program in effect on the date the award is made in the
first quarter of 2014, including that you continue to be employed by State Street on such award date. A full-year target amount of $5,000,000 will be used in determining the amount of your 2013 LTI, to be paid as described below; provided,
however, that you hereby acknowledge and agree that the 2013 LTI will be paid or not paid, in whole or in part (and in such type, form and structure and with such terms and conditions), as determined and approved by, and solely within the
absolute discretion of, the Executive Compensation Committee (“ECC”) of the Board. 
  

	 	•	 	 100% in the form of deferred equity, either in the form of deferred stock units or deferred shares (“Deferred Stock”). All or a portion of
the Deferred Stock may be performance-based, with the vesting and payment of the Deferred Stock conditioned on the satisfaction of applicable performance conditions. It is anticipated that the Deferred Stock will vest, subject to satisfaction of any
applicable performance conditions in equal annual installments over a four-year period, with the first installment vesting in 

  
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February 2015, and with the remaining three installments vesting each February thereafter through and including February 2018. Vesting and payment of the Deferred Stock is conditioned on your
acceptance of the terms and conditions of your equity award agreement(s), as approved by the ECC at the time your award is made in the first quarter of 2014. The Deferred Stock will be subject to all terms and conditions set forth in the applicable
plan documents and the applicable equity award agreement(s), including, without limitation, forfeiture and clawback provisions and any restrictive covenants set forth therein. The number of shares subject to your award will be determined based upon
the closing price of State Street common stock on the New York Stock Exchange on the date the award is approved by the ECC. 
 You are eligible
for a long-term incentive compensation award for 2014 under the IC Program (the “2014 LTI”), granted under and subject to the terms of the IC Program in effect on the date the award is made in the first quarter of 2015, including that you
continue to be employed by State Street on such award date. A full-year target amount of $4,000,000 will be used in determining the amount of your 2014 LTI; provided, however, that you hereby acknowledge and agree that the 2014 LTI
will be paid or not paid, in whole or in part (and in such type, form and structure and with such terms and conditions), as determined and approved by, and solely within the absolute discretion of, the ECC. 

In addition, you are eligible for an annual incentive compensation award for 2013 under the IC Program (the “2013 AI”), which may be divided
between immediately available or deferred cash- or equity-based according to the terms of the IC Program then in effect. A full-year target amount of $1,950,000 (delivered at least 50% in cash) will be used in determining the amount of your 2013 AI;
provided, however, that you acknowledge and agree that the 2013 AI will be paid or not paid, in whole or in part (and in such type, form and structure and with such terms and conditions), as determined and approved by, and solely
within the absolute discretion of, the ECC. Similarly, a full-year target amount of $1,950,000 will be used in determining the amount of your annual incentive compensation award for 2014 under the IC Program (the “2014 AI”);
provided, however, that you acknowledge and agree that the 2014 AI will be paid or not paid, in whole or in part (and in such type, form and structure and with such terms and conditions), as determined and approved by, and solely
within the absolute discretion of, the ECC. 
  

	 	4.	Relocation Assistance. 

 You will
be eligible to receive relocation assistance as stipulated in, and subject to the terms and conditions of, a summary or summaries of relocation benefits enclosed with this Terms Summary, and managed by the State Street Global Mobility department.

  

	 	5.	Benefits Program Participation. 

You may participate in any and all benefit programs that State Street establishes and makes available to its employees, subject to your eligibility for
such programs under the applicable plan documents. Enclosed for your review and reference is the State Street Benefits Overview for 2013, which provides information regarding benefit plan options that may be available to you. A few highlights of
State Street’s benefits program, all subject to eligibility and applicable plan provisions from time to time in effect, include: 
  

	 	•	 	 Eligibility to participate in the Executive Supplemental Retirement Plan, which currently provides for an annual share award (pro-rated for your first
year of employment). 

  

	 	•	 	 Eligibility to execute and receive specific, enumerated “change of control”-related protections under, and subject to the terms and
provisions of, a separate agreement with State Street. 

  

	 	•	 	 Availability of certain additional benefits, as provided to others at the Executive Vice President level within the Company, such as executive
financial planning, an annual executive physical, and umbrella liability insurance. 

  

	 	•	 	 Several medical, dental and vision plan options, as well as flexible spending account options. 

 

	 	•	 	 Participation in the State Street Salary Savings Program (State Street’s 401(k) plan), which provides the opportunity to receive a Company match
to the extent set forth in the Plan and subject to Internal Revenue Service limits. 

  

	 	•	 	 Life insurance and business travel accident insurance. 

 

	 	•	 	 Access to State Street’s work/life programs, such as paid parental leave, an employee assistance program (“EAP”), child and dependent
care resources and flexible work programs. 

  

	 	•	 	 Parking benefit. 

 The
State Street Benefits Center website, located at https://www.benefitsweb.com/statestreet.html, can help to familiarize you with the State Street benefit plan offerings for which you may be eligible. To access this information, click on
“Health & Welfare Info” under the Plan Information section. 

  
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 Although State Street currently intends to continue its benefit programs, it reserves the right to amend,
modify or terminate such programs at any time. 
  

	 	6.	Vacation. 

 You will be eligible to
take four (4) weeks of vacation per calendar year of employment, which amount will be prorated in your first year of employment based on your date of hire. Vacation accrual is governed by State Street’s vacation policy. For more
information, please refer to the enclosed State Street Benefits Overview. 
 II. Additional Notices and Provisions. 

 

	 	1.	At-Will Employment. 

 This Terms
Summary is not a contract of employment, does not guarantee employment for any fixed term, and may not be construed as an agreement to pay you any compensation or grant you any benefit beyond the end of your employment with State Street. Each of you
and State Street may terminate your employment relationship at any time, for any reason, subject to the notice provision below. 
  

	 	2.	Notice Period Upon Resignation. 

In order to permit State Street to safeguard its business interests and goodwill in the event of your resignation from employment, including by arranging
to transition your duties and any client responsibilities or relationships in an orderly manner or, if necessary, to hire a replacement for you, by signing this Terms Summary you agree : 

 

	 	•	 	 To give State Street no less than 60 days notice (the “Notice Period”) before terminating your employment with State Street for any reason.
During the Notice Period, you agree to cooperate with State Street and to provide State Street with any requested information to assist State Street with transitioning your duties, accomplishing State Street’s business, and/or preserving its
client relationships. During the Notice Period, State Street may, in its sole discretion, either ask you to continue performing your regular duties or may place you on a partial or complete leave of absence and relieve you of some or all of your
duties and responsibilities. In these circumstances, for the duration of the Notice Period, you shall remain an employee of State Street, shall continue to receive your regular salary and benefits (although you will not be eligible for any new
incentive compensation awards) and State Street’s corporate and other policies will continue to apply to you. 

  

	 	•	 	 That should you breach this paragraph II(2) and fail to provide notice as required herein, in addition to any and all remedies available under
applicable law, State Street shall be entitled to seek injunctive relief restricting you from employment for a period equal to the period for which notice of resignation was required but not provided. 

 

	 	•	 	 That State Street may, in its sole discretion and at any time during the Notice Period, release you from your obligations under this paragraph II(2)
and terminate your employment with immediate effect and without any payment in lieu of any unexpired Notice Period. For the avoidance of doubt, State Street’s exercise of this right shall not affect your obligations under Appendix A.

 Any termination of your employment pursuant to this paragraph II(2), including by State Street during the Notice Period as
provided in the subparagraphs contained within this paragraph II(2), will be a voluntary termination constituting circumstances of forfeiture for purposes of any incentive awards granted to you under State Street’s incentive plans.
Notwithstanding anything herein to the contrary, this paragraph II (2) shall not apply in the event you terminate your employment for Good Reason as defined in an agreement or plan relating to a change in control of State Street. 

 

	 	3.	Conditions to Employment. 

  

	 	•	 	 Background Investigation. Please note that State Street’s offer of employment to you is contingent upon your satisfactory completion, as
determined by State Street in its sole discretion, of a background investigation (including credit history, criminal background, education and employment verification), and that failure of the background investigation will result in withdrawal of
this offer of employment or termination of your employment. 

  

	 	•	 	 Appendix A. Your employment with State Street is conditioned upon your agreement, represented by your execution and return of this Terms
Summary, to abide by the Restrictive Covenant Agreement attached hereto as Appendix A. You understand, acknowledge and agree that the restrictions contained in Appendix A form a material and integral part of the Terms Summary, and that
by your acceptance of this offer you are agreeing to comply with the terms and conditions of Appendix A. You understand, acknowledge and agree that the restrictions contained in Appendix A do not supersede or replace, but shall supplement and
be in addition to, any restrictive covenants and other agreements contained in benefit or other plans, incentive award agreements or other agreements between you and State Street, now or hereafter existing. 

  
 Page 3 of 10

	 	•	 	 Additional Employment-Related Agreements and Codes. As a condition of your employment, you also will be required to timely complete State
Street’s on-line Standard of Conduct certification and learning assessment upon commencement of employment. A copy of the Standard of Conduct is enclosed.

 

	 	•	 	 Eligibility for Employment. State Street’s offer of employment also is conditioned upon your providing employment eligibility documents
which comply with the Immigration Reform and Control Act (I-9). The approved list of acceptable documents for establishing proof of employment eligibility is enclosed. State Street will use an electronic system established by the federal government
(E-Verify) to verify your employment eligibility following State Street’s receipt of the completed I-9 form. Further information regarding State Street’s use of E-Verify is posted in the workplace. In addition, you may be required, as
a condition of this offer, to complete a questionnaire regarding certain state and local political contributions made by you or your dependents in order to establish eligibility for employment with State Street. 

 

	 	4.	Section 409A. 

 It is
expressly intended and contemplated that this agreement comply with the provisions of Section 409A of the United States Internal Revenue Code of 1986, as amended, and the applicable guidance thereunder (together, “Section 409A”) and
that any payments made pursuant to or in accordance with this Terms Summary either will be exempt from Section 409A or will comply with the provisions of Section 409A. The provisions of this Terms Summary, and of any agreements entered
into in furtherance of the intentions of the parties set forth herein, will be administered and interpreted in a manner, consistent with this intent, and any provision that would cause this Terms Summary, or any other agreement entered into in
furtherance of the intentions of the parties set forth herein, to fail to satisfy Section 409A will be amended to satisfy Section 409A or be exempt therefrom (which amendment may be retroactive to the extent permitted by
Section 409A), and which shall be done as soon as possible. In no event shall State Street be relieved of its obligation to make any payment due under this Terms Summary by reason of this paragraph. Notwithstanding any other provision of this
Terms Summary, if you are a “specified employee” within the meaning of Treas. Reg. §1.409A-1(i)(1), then the payment of any amount or the provision of any benefit under this agreement which is considered deferred compensation subject
to Section 409A shall be deferred for six (6) months after your “separation from service” or, if earlier, your death to the extent required by Section 409A(a)(2)(B)(i) of the Code (the “409A Deferral Period”). In
the event payments are otherwise due to be made in installments or periodically during the 409A Deferral Period, the payments which would otherwise have been made in the 409A Deferral Period shall be accumulated and paid in a lump sum on the
Company’s first standard payroll date that arises on or after the 409A Deferral Period ends, and the balance of the payments shall be made as otherwise scheduled. For purposes of any provision of this Terms Summary providing for reimbursements
to you, such reimbursements shall be made no later than the end of the calendar year following the calendar year in which you incurred such expenses, and in no event shall the unused reimbursement amount during one calendar year be carried over into
a subsequent calendar year. For purposes of this Terms Summary, you shall not be deemed to have terminated employment unless you have a “separation from service” within the meaning of U.S. Treasury Regulations Section 1.409A-1(h),
where it is reasonably anticipated that no further services will be performed after such date or that the level of bona fide services you will perform after that date (whether as an employee or independent contractor) will permanently decrease to no
more than 20 percent of the average level of bona fide services performed by you over the immediately preceding 36-month period. All rights to payments and benefits under this Terms Summary shall be treated as rights to receive a series of separate
payments and benefits to the fullest extent allowed by Section 409A. No provision of this Terms Summary shall be interpreted or construed to transfer any liability for failure to comply with the requirements of Section 409A from you or any
other individual to the Company or any of its affiliates, employees or agents. 
  

	 	5.	Release of Claims. 

 Upon the termination of your employment with State Street, you will be required to sign a waiver and mutual release agreement in a form satisfactory to State Street (a “Release”), on or prior to
the 60th day following the termination of your employment (the “Release Date”). You acknowledge, understand and agree that your receipt of any payments and benefits as a result of the termination of your employment shall be subject to your
execution, delivery and non-revocation of such a Release. Notwithstanding anything to the contrary in this Terms Summary, to the extent that any payments of “nonqualified deferred compensation” (within the meaning of Section 409A) due
under this Terms Summary, or under any agreements entered into in furtherance of the intentions of the parties set forth herein, as a result of the termination of your employment are subject to your execution, delivery and non-revocation of a
Release and are payable prior to the Release Date, such amounts shall be paid in a lump sum on State Street’s first standard payroll date to occur on or after the Release Date, provided that, as of the Release Date, you have executed, delivered
and have not revoked the Release (and any applicable revocation period has expired). 

  
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	 	6.	Entire Agreement. 

 This Terms
Summary may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same agreement. The initial terms contained herein, and in the attachments hereto, shall supersede all
prior understandings and representations between you and State Street, whether written or oral, relating to the terms of your employment. 
  

	 	7.	Governing Law. 

 This Terms Summary
shall be governed by, and interpreted and construed in accordance with, the laws of the Commonwealth of Massachusetts applicable to contracts executed in and to be performed in Massachusetts. 
 By signing and dating below, you represent, acknowledge and agree that: 
 You have read,
understand and agree to the terms and conditions of this Terms Summary as set forth above, including the Restrictive Covenant Agreement attached hereto as Appendix A; are not subject to or a party to any agreement, restrictive covenant or other
understanding or undertaking that would be breached if you became employed by State Street (or, to the extent you may be subject to such an agreement, restrictive covenant or other understanding or undertaking, you have provided to State Street a
waiver, satisfactory to State Street, of the restrictions contained therein); and will not disclose to State Street or any of its subsidiaries or affiliates, or use during the course of your employment with State Street, any confidential or
proprietary information belonging to any third party, including without limitation, your current or any past employers.  
 Effective
Date of Hire: June 17, 2013 

  
 Page 5 of 10

									
	 ACCEPTED AND AGREED TO:
  

EXECUTIVE
	 		 	 ACCEPTED AND AGREED TO:
  

STATE STREET CORPORATION

				
	 /s/ Michael W. Bell
	 		 	By:	 	/s/ Alison Quirk
	Michael Bell	 		 		 	Alison Quirk
				
	Dated: May 23, 2013	 		 		 	Dated: 5/22/13

  
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 Appendix A 
 Restrictive Covenant Agreement. 
  

	 	1.	Confidentiality. 

 You acknowledge
that you have access to Confidential Information (as defined herein) which is not generally known or made available to the general public, and that such Confidential Information is the property of State Street, its Subsidiaries and/or its or their
licensors, suppliers or customers. You agree specifically as follows, in each case whether during your employment or following the termination thereof: 
  

	 	•	 	 You will always preserve as confidential all Confidential Information, and will never use it for your own benefit or for the benefit of others; this
includes that you will not use the knowledge of activities or positions in clients’ securities portfolio accounts or cash accounts for your own personal gain or for the gain of others. 

 

	 	•	 	 You will not disclose, divulge, or communicate Confidential Information to any unauthorized person, business or corporation during or after the
termination of your employment with State Street or any of its Subsidiaries. You will use your best efforts and exercise due diligence to protect, to not disclose and to keep as confidential all Confidential Information.

  

	 	•	 	 You will not initiate or facilitate any unauthorized attempts to intercept data in transmission or attempt entry into data systems or files. You will
not intentionally affect the integrity of any data or systems of State Street or any of its Subsidiaries through the introduction of unauthorized code or data, or through unauthorized deletion or addition. You will abide by all applicable Corporate
Information Security procedures and policies designed to protect State Street’s (or any of its Subsidiaries’) data. 

  

	 	•	 	 Upon the earlier of State Street’s request and the termination of your employment, you agree to return to State Street (or the relevant
Subsidiary), or if so directed by State Street (or the relevant Subsidiary), destroy any and all copies of materials in your possession containing Confidential Information. 

 These terms do not apply to any information which is previously known to you without an obligation of confidence, is publicly disclosed (other than by a violation by you of the terms of this Appendix A)
either prior to or subsequent to your receipt of such information, or is rightfully received by you from a third party without obligation of confidence and other than in relation to your employment with State Street or any of its Subsidiaries.

  

	 	2.	Assignment and Disclosure. 

 You
acknowledge that in the course of your employment you have assigned or will assign all of your rights, title and interest in any work performed by you and all deliverables and products created by you or jointly by you and any other party to State
Street, including any track record you may have as investment manager or fund manager. You will not pursue any ownership or other interest in such work product or deliverables including any rights as to copyright, trademark or patent. 

 

	 	•	 	 You will disclose promptly and in writing to State Street all inventions and creative works, whether or not patentable or copyrightable, conceived or
created solely or jointly by you during the period of your employment which relate to the business of State Street or any of its Subsidiaries, and you hereby assign and agree to assign all of your interest in them to State Street. You will execute
all papers at State Street’s expense, which State Street shall deem necessary to apply for and obtain domestic and foreign patents, copyright and other registrations, and to protect and enforce State Street's interest in them.

  

	 	•	 	 These obligations shall continue beyond the period of your employment with respect to inventions or creations conceived or made by you during the
period of your employment. 

  

	 	3.	Non-Solicitation. 

 You understand,
acknowledge and agree that during your employment and for a period of six (6) months from the date of termination of your employment for any reason (or, if longer, for the period of time set forth in any benefit or other plan or agreement you
have with State Street or any of its Subsidiaries) you will not, without the prior written consent of State Street: 

  
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	 	•	 	 Solicit, directly or indirectly (other than through a general solicitation of employment not specifically directed to employees of State Street or any
of its Subsidiaries), the employment of, hire or employ, recruit, or in any way assist another in soliciting or recruiting the employment of, or otherwise induce the termination of the employment of, any person who then or within the preceding
twelve (12) months was an officer of State Street or any of its Subsidiaries (excluding any such officer whose employment was involuntarily terminated other than for cause); or 

 

	 	•	 	 Engage in the Solicitation of Business from any Client on behalf of any person or entity other than State Street or any of its Subsidiaries.

 For this purpose, “officer” shall include any person holding a position title of Assistant Vice President or SSgA
Principal 4 or higher. Your compliance during any Notice Period specified in your Summary of Employment Terms with (i) the Non-Solicitation provisions in this Section 3, (ii) a post-employment non-solicitation or non-competition
provision contained in any other agreement you enter into with State Street or its Subsidiaries, and (iii) any other post-employment non-solicitation or non-competition covenant otherwise imposed as a condition precedent to the receipt of
compensation or benefits under other awards, plans or arrangements of State Street and its Subsidiaries, in each case will be applied towards satisfaction of the restriction period in this Section 3. 

 

	 	4.	Non-Competition 

 You agree that
during your employment by State Street or any of its Subsidiaries and for a period of one (1) year following the termination of such employment for any reason (or, if longer, for the period of time set forth in any benefit plan or agreement you
have with State Street or its Subsidiaries), you shall not engage, either directly or indirectly, in any manner or capacity as an advisor, principal, agent, partner, officer, director or employee of, or as consultant to, American Express, Bank of
America, Bank of New York Mellon, BlackRock, Citibank, Franklin Resources, Goldman Sachs, JP Morgan Chase, Marsh & McLennon, Morgan Stanley, Northern Trust Corporation, PNC Financial Services, U.S. Bancorp, Wells Fargo, Fidelity Management
and Research, the Vanguard Group, Wellington Management Co., Invesco, Deutsche Bank, Principal Financial Group, Prudential Financial (each an “Institution”). For purposes of this paragraph, each Institution shall also include any
subsidiary or 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 the Terms Summary. 
 You agree that the nature of State Street’s and its Subsidiaries’ business is such
that it could be conducted anywhere in the world, that it is not limited to a geographic scope or region, that activities can be directed from anywhere in the world into territories where State Street and its Subsidiaries do business, and therefore
a worldwide scope for the covenant not to compete is necessary. If any restriction set forth in this Paragraph 4 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a
range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. You acknowledge and agree that the restrictions
contained in this Paragraph 4 are necessary for the protection of the business and goodwill of State Street and its Subsidiaries and are considered by you to be reasonable for such purpose. You agree that any breach or threatened breach of the
provisions in this Paragraph 4 will cause State Street and its Subsidiaries substantial and irrevocable damage that is incapable of being measured. Therefore, in the event of any such breach or threatened breach, you agree that State Street and its
Subsidiaries, in addition to such other remedies that may be available, shall have the right to seek specific performance and injunctive relief without posting a bond. You hereby waive the adequacy of a remedy at law as a defense to such relief. If
you violate any of the provisions of this Paragraph 4, you shall continue to be bound by the restrictions set forth herein until a period equal to the period of restriction has expired without any violation. 

 

	 	5.	Definitions. 

 For the purpose of
clarity, the following terms are defined as follows: 
  

	 	•	 	 “Client” means a present or former customer or client of State Street or any of its Subsidiaries with whom you have had, or with whom
persons you have supervised have had, substantive and recurring personal contact during your employment with State Street or any of its Subsidiaries. A former customer or client means a customer or client for which State Street or any of its
Subsidiaries stopped providing all services within twelve months prior to the date your employment with State Street ends. 

  
 Page 8 of 10

	 	•	 	 “Confidential Information” includes but is not limited to all trade secrets, trade knowledge, systems, software, code, data
documentation, files, formulas, processes, programs, training aids, printed materials, methods, books, records, client files, policies and procedures, client and prospect lists, employee data and other information relating to the operations of State
Street or its Subsidiaries or its or their customers, and any and all discoveries, inventions and improvements thereof made or conceived by you or others for State Street or its Subsidiaries or its or their customers whether or not patented or
copyrighted, as well as cash and securities account transactions and position records of clients, regardless of whether such information is stamped “confidential.” 

 

	 	•	 	 “State Street” means State Street Bank and Trust Company. 

 

	 	•	 	 “Solicitation of Business” means the attempt through direct or indirect contact by you or by any other person or entity with your
assistance to induce a Client to: 

  

	 	a.	transfer the Client’s business from State Street or any of its Subsidiaries to any other person or entity; 

 

	 	b.	cease or curtail the Client’s business with State Street or any of its Subsidiaries; or 

 

	 	c.	divert a business opportunity from State Street or any of its Subsidiaries to any other person or entity, which business or business opportunity concerns or relates to
the business with which you were actively connected during your employment with State Street or any of its Subsidiaries. 

  

	 	•	 	 “Subsidiaries” means any entity controlling, controlled by or under common control with State Street, including State Street
Corporation and its direct and indirect subsidiaries and the direct and indirect subsidiaries of State Street. 

  

	 	6.	Post-Employment Cooperation. 

 You
agree that, following the termination of your employment with State Street or any of its Subsidiaries, you will reasonably cooperate with State Street or any of its Subsidiaries with respect to any matters arising during or related to your
employment, including, but not limited, to reasonable cooperation in connection with any litigation, governmental investigation, or regulatory or other proceeding which may have arisen during your employment. State Street shall reimburse you for any
reasonable out-of-pocket and properly documented expenses you incur in connection with such cooperation. 
  

	 	7.	Non-Disparagement. 

 You agree
that, whether during your employment or following the termination thereof, you shall not make any false, disparaging, or derogatory statements to any media outlet (including, but not limited to, Internet-based chat rooms, message boards, social
media (such as Facebook), and/or web pages), industry groups, financial institutions, or to any current, former or prospective employees, consultants, clients, or customers of State Street, its Subsidiaries or any of their respective directors,
officers, employees, agents or representatives, or about State Street’s or its Subsidiaries’ business affairs and/or financial condition. 
  

	 	8.	Enforcement. 

 You acknowledge and
agree that the provisions contained in this Appendix are necessary to the protection of State Street’s and its Subsidiaries’ business and good will, and are material and integral to the undertakings of State Street and its Subsidiaries.
You further agree that State Street and its Subsidiaries will be irreparably harmed in the event such provisions are not performed in accordance with their specific terms or are otherwise breached. Accordingly, if you fail to comply with such
provisions, State Street or any of its Subsidiaries shall be entitled, if it so elects to institute and prosecute proceedings in any court of competent jurisdiction to seek injunctive or other equitable relief or remedy in addition to, and not in
lieu of, any other relief or remedy at law to which it or they may be entitled hereunder in order to protect its or their legitimate business interests. 

  
 Page 9 of 10

	 	9.	No Waiver. 

 No delay or waiver by
State Street or any of its Subsidiaries in exercising any rights under this Appendix shall operate as a waiver of that right or of any other right. Any waiver or consent as to any of the provisions herein provided by State Street or any of its
Subsidiaries must be in writing, is effective only in that instance, and may not be construed as a broader waiver of rights or as a bar to enforcement of the provision(s) at issue on any other occasion. 

 

	 	10.	Interpretation of Business Protections. 

 The representations and agreements made by you in this Appendix shall be construed and interpreted in any judicial or other adjudicatory proceeding to permit their enforcement to the maximum extent
permitted by law, and each of the provisions in this Appendix is severable and independently enforceable without reference to the enforcement of any other provision. If any restriction set forth in this Appendix is found by any court of competent
jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities
or geographic area as to which it may be enforceable. 

  
 Page 10 of 10

 SUMMARY OF RELOCATION BENEFITS 

 
 May 29, 2013 

 

			
	 Program Provision
	  	 Description

		
	Eligibility	  	 Your transfer/relocation must be initiated by State Street; you must be a full-time new hire or current employee. The move must meet
the IRS requirements of time and distance tests.
 You are required to execute a Relocation Repayment Agreement prior to receiving any benefits
under this program. Should you voluntarily resign or be terminated for cause within the first 12 months of relocating, you will be required to repay 100% of gross relocation costs.

		
	Apartment Rental Brokerage Fees	  	You will receive a one-time payment of $32,000, subject to all applicable taxes, in calendar year 2013 to be used toward brokerage fees to rent an apartment.
		
	Home Finding, Temporary Living	  	You will receive a one-time payment of $70,000, subject to all applicable taxes, in calendar year 2013 to be used toward: costs for your spouse to join you for a home finding
trip, 6 months of temporary housing, car rental while your personal vehicle is en route to the new location, and transportation costs for your initial trip to Boston as well as up to 3 trips home while in temporary housing.
		
	Initial Household Goods Move	  	You will be reimbursed for the following expenses, to the extent incurred within 12 months following your first day of employment: Initial movement of household goods that will
be needed for temporary housing purposes via van line with full replacement insurance. Unavoidable storage up to 90 days. Shipment of up to one car if the move mileage exceeds 350 miles. All applicable taxes due on these benefits will be your
responsibility.
		
	Final Move (En route Expenses, Movement of Household Goods, Home Sale/Purchase, Rental Costs)	  	You will receive a one-time payment of $200,000 in July 2014, subject to all applicable taxes. This payment covers all relocation costs not covered above, including without
limitation (1) en route expense reimbursements, including transportation, mileage, lodging, meals etc.; (2) movement of household goods; (3) home sale and home purchase costs and expenses; (4) rental costs for any apartment rental in Boston beyond
the six-months temporary housing provided above. You will be responsible for all relocation expenses that exceed the amounts provided above.

 I understand the terms of the relocation assistance being offered. I also understand that if my employment with State
Street should terminate either voluntarily, or involuntarily due to individual job performance or actions which are not consistent with corporate guidelines and ethical standards, within one year of my relocation, I will repay to State Street all
relocation benefits provided (including, but not limited to those listed above). 
 The policies and procedures summarized in this agreement
have been adopted voluntarily by State Street and are not intended to give rise to contractual rights or obligations or otherwise modify your terms of employment (e.g., your at-will status). 
 Employee Signature: /s/ Michael W. Bell
                                         
               Date: May 30, 2013  
 Print Employee
Name: Michael Bell

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