Document:

Restated Stock Ownership Program, effective as of January 1, 2008

 Exhibit 10.29 
  

					
		 	 JONES LANG LASALLE
 STOCK OWNERSHIP PROGRAM
	  	

 Jones Lang LaSalle Incorporated (the “Company”) sponsors a series of compensation and benefit programs
that can help Directors manage risk and assist them in meeting their personal financial goals. In an effort to help increase awareness and understanding of these programs, the Company has created this summary of its Stock Ownership Program
(“SOP”) and encourages your questions and feedback. 
 PROGRAM OBJECTIVES 
 The SOP establishes desirable ownership guidelines for National, Regional and International Directors in order to: 
  

	 	•	 	 Align a portion of the compensation of those employees who are most responsible for the results of the Company with the interests of shareholders.

  

	 	•	 	 Reward people who make long-term contributions to the Company and encourage retention through long-term wealth building incentives. 

  

	 	•	 	 Reinforce the “one firm” mindset by encouraging employee ownership across business units and regions. 

 The following desirable minimum stock ownership guidelines have been established: 
 Table 1: Stock Ownership Guidelines 
  

			
	 Director Level
	 	 Beneficial Ownership Guideline

		
	 International Director
	 	Four times annual base salary
		
	 Regional Director
	 	Three times annual base salary
		
	 National Director
	 	Two times annual base salary

 The Company evaluates Directors’ positions relative to these guidelines each year, using the current
annualized base salary, the fair market value of Company stock and the Director’s beneficial ownership of Company stock. 
 Directors may satisfy their
ownership guideline through shares owned directly, shares owned by a spouse or a trust, the potential gain from outstanding stock options, and unvested or deferred restricted stock units. Although there is no specific period of time in which covered
employees should achieve the ownership guidelines, Directors are expected to make continuous progress toward the target and to ideally maintain the applicable level once it has been achieved. 
 PARTICIPATION REQUIREMENTS 
 To help Directors reach these
ownership objectives, National, Regional and International Directors are separately paid a portion of their incentive compensation (“Total Award”) as a discretionary Stock Bonus (rather than as a discretionary Cash Bonus), awarded in the
form of restricted stock units (“SOP Shares”) under the Company’s Stock Award and Incentive Plan (the “Plan”). In addition, effective for the 2007 performance period (for Total Awards payable in 2008) the Company increases
the value of SOP Shares by 20% when granted. Members of the Global Executive Committee are not eligible for this Company “uplift”. The number of SOP Shares to be granted as a Stock Bonus is based upon the following criteria and the
schedule provided in Table 2. 
  

  
 Jones
Lang LaSalle Incorporated Stock Ownership Program 

 (a) The employee’s Director level status as of January 1 for the year to which the Total Award
relates (or date of hire if hired during the year). Employees who may be promoted to National Director during the year do not participate in the SOP for the remaining portion of the year they were promoted. Similarly, Regional Directors promoted to
International Director continue to participate at the Regional Director level for the remaining portion of the year they were promoted and begin new participation at the International Director level for the following year. 
 (b) The closing price per share of Company common stock as of the first trading day in January of the year following the year in which the Total Award
relates. For example, the number of SOP Shares granted in January, 2008 as part of the 2007 Stock Bonus was determined based on the closing price of the Company’s common stock as of January 2, 2008, or $71.38, while discretionary Cash
Bonuses for 2007 were paid in 2008 (at a time when the closing price per share was between $70 and $80). With the 20% “uplift” described above, the $71.38 closing price would have resulted in a share price of approximately $59.50 when
recalculating the number of shares granted in lieu of the Cash Bonus. 
 (c) The currency exchange rate in effect as of the last trading day
in December of the year to which the Total Award relates, as determined by the Company. 
 Table 2: Cash Bonus and Stock Bonus Levels 
  

					
	 Director Level
	  	 Percentage of Total Award
 Paid as Cash Bonus
	  	 Percentage of Total Award
 Separately Paid as SOP Shares

	 International Director
	  	80%	  	20%
	 Regional Director
	  	85%	  	15%
	 National Director
	  	90%	  	10%

 For example, if a Regional Director received a Total Award of $60,000, the Director would
receive a Cash Bonus of $51,000 (85% of $60,000) and a Stock Bonus of $9,000 (15% of $60,000). The number of SOP Shares to be granted, assuming a closing price of $71.38 per share and an exchange rate of €1.00 to $1.50, is shown below in each
of the two examples: 
 Example 1: Total Award paid in U.S. dollars: 
  

					
	 SOP Shares
	 	=	 	Stock Bonus ($9,000) plus 20% Company contribution (uplift is $1,800)
		 	=	 	$ 10,800 divided by $71.38 (closing price)
		 	=	 	151 shares

 Example 2: Total Award paid in Euros: 
  

					
	 SOP Shares
	 	=	 	Stock Bonus (€ 6,000) plus 20% Company contribution (€1,200)
		 	=	 	€ 7,200 times $1.50 (exchange rate) divided by $71.38 (closing price)
		 	=	 	151 shares

 Minimum Participation Levels 
 Participation in the SOP requires that the minimum value of Stock Bonus to be paid as SOP Shares be no less than US $2,000. For example, a National Director would need to be eligible to receive a US $20,000 Total
Award to qualify for SOP Shares. For those that do not have Total Awards that meet the minimum Stock Bonus threshold, no SOP Shares are granted and the employee receives his/her Total Award paid in cash, with no 20% premium. 
  

  
 Jones
Lang LaSalle Incorporated Stock Ownership Program 

 Maximum Participation Levels 
 The maximum amount of Stock Bonus to be paid as SOP Shares will be US $150,000. For example, an International Director receiving a Total Award greater than US $750,000 would have no more than US $150,000 paid as a
Stock Bonus. Any Total Award not paid as SOP Shares under this provision would be paid as a Cash Bonus. 
 Voluntary Election to Not Participate

 Employees may (but are not required to) opt out of receiving SOP Shares if they hold shares in the Company whose value exceeds the minimum stock
ownership guidelines described in the first page of this booklet. If such an election is made, these individuals receive their Total Award in cash at the same time all other annual bonuses are paid, with no 20% premium. 
 Individuals must inform the Company of their election not to receive SOP Shares (or SOP Units) by no later than December 31 each year.
This notification must be communicated in writing to the Regional HR Director and have supporting documentation showing that the minimum required level of individual stock ownership has been achieved. This election is not available in certain
countries where the availability of the election would result in immediate taxation of SOP Shares. 
 Voluntary Election to Reduce SOP Shares 

 In order to balance the amount of stock and cash an employee may receive for their Total Award, Directors can voluntarily reduce, by five
(5) percentage points, the amount of the Total Award he or she would receive as SOP Shares. If this election results in a Stock Bonus of less than US$2,000, the Total Award is paid in cash. If no notice to reduce SOP is received within the
required deadlines, the amount of SOP Shares to be awarded defaults to the standard SOP schedule shown in Table 2 above. 
 VESTING OF SOP SHARES

 Any SOP Shares that a Director receives will be granted as of the immediately preceding
January 1st and will vest according to the following schedule, subject to the Director continuing to be employed by the Company as of each
Vesting Date, and the terms of the specific agreement which memorializes the terms of the award: 
  

	 	 •
	 	 50% of SOP Shares vest on the 1st July that is 18 months after the grant date; and 

  

	 	 •
	 	 50% of SOP Shares vest on the 1st July that is 30 months after the grant date. 

 For example, SOP
Shares were granted on January 1, 2008 as part of the Total Award for 2007 that were made in February 2008. Half of those SOP Shares will vest on July 1, 2009 and the other half will vest on July 1, 2010. 
 DIVIDEND EQUIVALENTS; NO VOTING RIGHTS 
 Since a cash dividend
was first announced in August 2005, employees who were granted SOP Shares received an additional benefit in the form of a semi-annual dividend equivalent payment. The Board of Directors may, in its discretion from time to time, continue to grant
dividend equivalents to employees who were granted SOP Shares. Dividend equivalents are the rights to receive cash, common stock, or other property equal in value to the amount of dividends paid with respect to the Company’s common stock. SOP
Shares do not otherwise have a legal right to receive dividends until vested. SOP Shares do not have voting rights until they have vested. 
  

  
 Jones
Lang LaSalle Incorporated Stock Ownership Program 

 FORFEITURE 
 All SOP Shares are subject to the terms and conditions outlined in a grant agreement and to the terms and conditions contained in the Plan. By receiving and accepting a discretionary award of SOP Shares, all Directors accept all terms and
conditions. For example, these conditions apply for terminated employees: 
  

	 	•	 	 Voluntary Resignation or Termination for Cause – results in the immediate forfeiture of SOP Shares that are not yet vested. 

  

	 	•	 	 Termination by Reason of Retirement – outstanding grants will continue to vest according to their standard vesting schedule and shares of stock
shall be issued in accordance with the standard vesting schedule. For purposes of SOP Shares, Retirement means age 65 or where any combination of age and years of service equals 65, as long as the employee is at least 55 years old. If a specific
local legal requirement requires this employee stock program to comply with a different definition, the local laws would prevail. In either case, the retired employee will be required to sign a non-solicitation and non-compete agreement at the time
of retirement; 

  

	 	•	 	 Termination by Reason of Death, Total and Permanent Disability, – the grant will continue to vest according to the standard vesting schedule;

  

	 	•	 	 SOP Shares will not be forfeited, and will continue to vest on their original schedules in the event an employee is involuntarily terminated due to a position
elimination. 

 TAX CONSIDERATIONS 
 All Cash Bonuses are subject to normal taxes and social charges, as required by local tax laws. The tax consequences associated with the grant and payment of a Stock Bonus as SOP Shares, as well as any anticipated dividend equivalent
payments and eventual sale of stock, are always subject to individual income tax circumstances at the time of grant, vesting and sale. In general, the Company anticipates that there will be no income tax obligations for an employee at the time SOP
Shares are granted. Subject to the tax laws in the countries that apply to different employees, the vesting of SOP Shares will create a tax reporting event based on the number of shares vesting and the closing price of the stock the day before the
vesting date. Individuals should seek advice of their personal tax advisor to obtain specific information concerning the tax consequences associated with participation in SOP. 
 RIGHTS AS A STOCKHOLDER 
 The holder of an award will have no rights as a shareholder with respect to any
shares covered by the award except as expressly contained or provided for in the award agreement or the Plan until the vesting of the award. 
 Disclaimer 
 This summary of our Stock Ownership Program is subject to the terms and conditions of the Plan and each underlying
grant agreement issued thereunder. In the event of a conflict, the terms of the Plan or the underlying grant agreement shall prevail. Any terms not otherwise defined in this summary shall have the meaning provided for in the Plan or the grant
agreement issued thereunder. 
  

  
 Jones
Lang LaSalle Incorporated Stock Ownership ProgramThe Valley National Bancorp, Benefit Equalization Plan

 EXHIBIT (10.J) 
 VALLEY NATIONAL BANCORP 
 BENEFIT EQUALIZATION PLAN 
 Amended and Restated Effective as of January 1, 2009 

 VALLEY NATIONAL BANCORP 
 BENEFIT EQUALIZATION PLAN 
 Valley National Bancorp hereby amends and
restates the Valley National Bancorp Benefit Equalization Plan (the “Plan”) in its entirety effective January 1, 2009. The terms of this Plan are applicable only to Participants who are in the employ of the Company on or after
January 1, 2009. This amendment and restatement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
 The purpose of this Plan is to attract and retain certain key officers by permitting them to enter into agreements with the Company which will provide
for the payment of a supplemental benefit on retirement, Disability, death or a Change in Control. 
 The Plan is intended to constitute an
excess benefit plan under Section 3(36) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), with respect to that portion of the Plan which provides benefits in excess of Section 415 of the Code, and an
unfunded pension plan maintained primarily for a select group of management or highly compensated employees with respect to all other benefits provided hereunder. The Plan makes-up the amount of the accrued benefits which cannot be provided under
the Valley National Bank Pension Plan (the “Pension Plan”) as a result of the limitations under Section 401(a)(17) of the Code on the amount of compensation which can be taken into account under a qualified plan and the limitation
under Section 415 of the Code on the amount of benefits which can be paid from a qualified plan. The Plan is not a qualified plan under the Code and benefits are paid directly by the Company out of its general assets. 
  

 ARTICLE I 
 Definitions 
 1.1 “Average Annual Compensation” shall mean the
Participant’s highest average annual Compensation averaged over the five (5) highest consecutive calendar years with the Company preceding the calendar year in which the Participant attains his or her Normal Retirement Date or otherwise
terminates his or her employment. 
 1.2 “Average Social Security Limit” shall mean one-twelfth of the average annual amount
of wages covered under the Federal Insurance Contribution Act during the period of calendar years ending with the first year preceding such calculation date and starting with the later of the 35th year preceding such date or the year 1959.

 1.3 “BEP Benefit” means the annual retirement benefit payable pursuant to the terms of this Plan. 
 1.4 “Board of Directors” means the Board of Directors of Valley National Bancorp. 
 1.5 “Change in Control” means any of the following events, provided that such event constitutes a “change in control” under
Section 409A of the Code: (i) when Valley National Bancorp (“Valley”) or a Subsidiary acquires actual knowledge that any person (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), other than an affiliate of
Valley or a Subsidiary or an employee benefit plan established or maintained by Valley, a Subsidiary or any of their respective affiliates, is or becomes the beneficial owner (as defined in Rule 13d-3 of the Exchange Act) directly or indirectly, of
securities of Valley representing more than twenty-five percent (25%) of the combined voting power of Valley’s then outstanding securities (a “Control Person”), (ii) upon the first purchase of Valley’s common stock
pursuant to a tender or exchange offer (other than a tender or exchange offer made by Valley, a Subsidiary or an employee benefit plan established or 

  

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maintained by Valley, a Subsidiary or any of their respective affiliates), (iii) the consummation of (A) a transaction, other than a Non-Control
Transaction, pursuant to which Valley is merged with or into, or is consolidated with, or becomes the subsidiary of another corporation, (B) a sale or disposition of all or substantially all of Valley’s assets or (C) a plan of
liquidation or dissolution of Valley, (iv) if during any period of two (2) consecutive years, individuals (the “Continuing Directors”) who, at the beginning of such period constitute the Board, cease for any reason to constitute
at least 60% thereof or, following a Non-Control Transaction, 60% of the board of directors of the Surviving Corporation; provided that any individual whose election or nomination for election as a member of the Board (or, following a
Non-Control Transaction, the board of directors of the Surviving Corporation) was approved by a vote of at least two-thirds of the Continuing Directors then in office shall be considered a Continuing Director, or (v) upon a sale of
(A) common stock of the Valley National Bank, a Subsidiary (the “Bank”), if after such sale any person (as such term is used in Section 13(d) and 14(d)(2) of the Exchange Act) other than Valley, an employee benefit plan
established or maintained by Valley or a Subsidiary, or an affiliate of Valley or a Subsidiary, owns a majority of the Bank’s common stock or (B) all or substantially all of the Bank’s assets (other than in the ordinary course of
business). No person shall be considered a Control Person for purposes of clause (i) above if (A) such person is or becomes the beneficial owner, directly or indirectly, of more than ten percent (10%) but less than twenty-five percent
(25%) of the combined voting power of Valley’s then outstanding securities if the acquisition of all voting securities in excess of ten percent (10%) was approved in advance by a majority of the Continuing Directors then in office or
(B) such person acquires in excess of ten percent (10%) of the combined voting power of Valley’s then outstanding voting securities in violation of law and by order of a court of competent jurisdiction, settlement or otherwise,
disposes or is required to dispose 
  

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 of all securities acquired in violation of law. For purposes of this paragraph: (I) Valley will be deemed to have
become a subsidiary of another corporation if any other corporation (which term shall include, in addition to a corporation, a limited liability company, partnership, trust, or other organization) owns, directly or indirectly, 50 percent or more of
the total combined outstanding voting power of all classes of stock of Valley or any successor to Valley; (II) “Non-Control Transaction” means a transaction in which Valley is merged with or into, or is consolidated with, or becomes the
subsidiary of another corporation pursuant to a definitive agreement providing that at least 60% of the directors of the Surviving Corporation immediately after the transaction are persons who were directors of Valley on the day before the first
public announcement relating to the transaction; (III) the “Surviving Corporation” in a transaction in which Valley becomes the subsidiary of another corporation is the ultimate parent entity of Valley or Valley’s successor; (IV) the
“Surviving Corporation” in any other transaction pursuant to which Valley is merged with or into another corporation is the surviving or resulting corporation in the merger or consolidation; and (V) the capitalized term
“Subsidiary” means any corporation in an unbroken chain of corporations, beginning with Valley, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain. 
 1.6 “Company” means Valley National
Bancorp, Valley National Bank, any successors thereto, and any of the Company’s subsidiaries which adopts the Plan with the consent of the Board of Directors. 
 1.7 “Compensation” shall mean a Participant’s annual rate of base earnings (excluding overtime and any other forms of additional compensation) paid to him or her for each 

  

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calendar year effective as of each January 1. In addition, Compensation shall include all bonus payments paid to a Participant in a given calendar year.

 1.8 “Compensation Committee” means the Human Resources and Compensation Committee of the Board of Directors. 

1.9 “Disability” or “Disabled” shall mean, with respect to a Participant, that the Participant has become mentally
or physically disabled such that he or she is, or is reasonably expected to be, unable to perform the usual and customary duties of his or her position for a period of long and continued duration. For this purpose, the determination of a
Participant’s Disability shall be determined by the Compensation Committee, in its sole but reasonable discretion. The Compensation Committee shall consult with one physician of its choosing and one physician of the subject Participant’s
choosing in helping it to determine the existence and extent of the Participant’s Disability. 
 1.10 “Effective Date”
of this amendment and restatement shall mean January 1, 2009. 
 1.11 “Eligible Employee” means an officer employed by
the Company who is a participant in the Pension Plan and whose Compensation exceeds the limit on compensation under Section 401(a)(17) of the Code. 
 1.12 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 1.13
“Normal Retirement Date” means the Normal Retirement Date as defined in the Pension Plan. 
 1.14
“Participant” means an Eligible Employee who becomes a Participant pursuant to Article II. 
  

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 1.15 “Participation Agreement” means the written agreement between the Company and the
Participant setting forth certain provisions related to the Plan, incorporating the terms and conditions of the Plan and authorizing an Eligible Employee’s participation in the Plan. 
 1.16 “Payment Election” means the Participant’s election as to the time and form of payment of his or her BEP Benefit upon a
Termination from Employment. 

	1.17	“Pension Plan” means the Valley National Bank Pension Plan. 

 1.18 “Pension Plan Benefit” means the annual retirement benefit payable to or on account of a Participant from the Pension Plan. 
 1.19 “Plan” means this Valley National Bancorp Benefit Equalization Plan, as set forth herein, as amended from time to time. 

	1.20	“Plan Administrator” means the Valley National Bancorp or any committee designated by the Board of Directors. 

 1.21 “Plan Year” means each twelve (12) consecutive month period commencing each January 1 and ending on the following
December 31. 
 1.22 “Separation from Service” shall occur when the Participant dies, retires, or otherwise has a
Termination from Employment (as defined under Section 409A of the Code) with the Company. 
 1.23 “Years of Credited
Service” means years of Credited Service as defined in the Pension Plan. Notwithstanding the foregoing, a Participant who served as a chief executive officer of a bank that the Company acquired after 1990 and who became an executive vice
president of the Company upon the acquisition of said bank, shall be credited with additional Years of Credited Service equal to 25% of the number of years such Participant served as the acquired bank’s chief executive officer, rounded up to
the next whole year, not in excess of 2 years. 
  

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 1.24 “Years of Continuous Service” means years of Continuous Service as defined in the
Pension Plan. Notwithstanding the foregoing, a Participant who served as a chief executive officer of a bank that the Company acquired after 1990 and who became an executive vice president of the Company upon the acquisition of said bank, shall be
credited with additional Years of Continuous Service equal to 25% of the number of years such Participant served as the acquired bank’s chief executive officer, rounded up to the next whole year, not in excess of 2 years. 
 1.25 Any defined term which is not set forth in Article I of this Plan, shall be defined pursuant to the terms of the Pension Plan. 
 1.26 For purposes of this Plan, unless the context requires otherwise, the masculine includes the feminine, the singular the plural, and vice-versa. Any
reference to a “Section” or “Article” shall mean the indicated section or article of this Plan unless otherwise specified. 
 ARTICLE II 
 Participation 
 Any Eligible Employee who was a Participant in this Plan on the day prior to the date the Board of Directors adopts this amendment and restatement shall remain a Participant herein. Each other Eligible Employee shall
become a Participant on the first day of the month following appointment to the Plan by the Compensation Committee and execution of a Participation Agreement. The Compensation Committee shall, in its sole and absolute discretion, select which
Eligible Employees shall be appointed as Participants. The decision of the Compensation Committee shall be conclusive and binding on all persons. A Participant shall remain a Participant hereunder until the later of his or her Separation from
Service or the date he or she is no longer entitled to benefits under the Plan. 
  

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 ARTICLE III 
 BEP Benefit 
 3.1 Amount of BEP Benefit. Each Participant who qualifies for a normal,
early, disability or deferred retirement benefit under the Pension Plan, or who has completed at least five Years of Continuous Service under the Pension Plan and is entitled to an immediately distributable benefit from the Pension Plan, shall be
entitled to a BEP Benefit equal to (a) minus (b) as follows: 
  

	 	(a)	The sum of: 

  

	 	(i)	.75% of the Participant’s Average Annual Compensation not in excess of his or her Average Social Security Limit multiplied by his or her Years of Credited Service up to 40;
plus 

  

	 	(ii)	1.25% of the Participant’s Average Annual Compensation in excess of his or her Average Social Security Limit multiplied by his or her Years of Credited Service up to 40,
expressed as a straight life annuity with no ancillary benefits; 

 minus 
  

	 	(b)	the Participant’s Pension Plan Benefit expressed as a straight life annuity with no ancillary benefits. 

 The amount calculated pursuant to Section 3.1(a) shall be adjusted as set forth in the Pension Plan for any Participant who is entitled to an early or disability
retirement benefit under the Pension Plan and for the form of benefit selected by the Participant under the Pension Plan and the Plan. 
 3.2
Benefits Upon Reemployment. If a Participant is rehired after commencing payment of his or her BEP Benefit, payments shall continue during such period of reemployment. The BEP Benefit payable to a Participant after his or her subsequent
Separation from Service shall be the additional benefits computed in accordance with Section 3.1 of the Plan insofar as additional employment entitles the Participant to additional benefits. 
  

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 ARTICLE IV 
 Vesting 
 A Participant shall be fully vested in his or her BEP Benefit; provided, however,
that the Participant’s rights to benefits under this Plan shall be forfeited under the following circumstances: (i) the Participant’s employment with the Company is terminated on account of an act of fraud, larceny, misappropriation
or embezzlement committed against the Company; (ii) the Participant’s employment with the Company is terminated for any reason, voluntarily or involuntarily. Notwithstanding the foregoing, if a Particpant’s employment terminates
(voluntarily or involuntarily) (A) as a result of the Participant’s death or Disability, or (B) on or after the earlier of the Participant’s attainment of age 55 or completion of 25 Years of Continuous Service, such Participant
shall be fully vested in his or her BEP Benefit. A Participant shall be fully vested in his or her BEP Benefit upon a Change in Control. 
 ARTICLE V 
 Death Benefits 
 5.1 Preretirement Survivor Annuity. In the event that a vested Participant is married and
dies before commencing payment of his or her BEP Benefit, the Participant’s spouse may be entitled to a Preretirement Survivor Annuity. If the Participant is actively employed on his or her date of death, the Preretirement Survivor Annuity is
payable for the spouse’s life and equal to 66 2/3% of the benefit calculated pursuant to Section 3.1 of the Plan,
adjusted for payment in the form of a qualified joint and 66 2/3% survivor annuity based on the factors in Appendix A to the
Plan. If the Participant has Terminated from Employment prior to his or her death, the Preretirement Survivor Annuity shall be equal to the survivor benefit under the form of payment elected by the Participant. Notwithstanding the foregoing, if on
the date that the Participant’s BEP Benefit would otherwise commence to the surviving spouse pursuant to Section 5.2 of the Plan, 

  

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the lump sum present value of his or her BEP Benefit is less than the amount specified in Section 402(g) of the Code, payment of the Participant’s
BEP Benefit shall be paid in a lump sum on the date specified in Section 5.2 of the Plan. For purpose of the preceding sentence, all other non-qualified deferred compensation plans of the Company shall be aggregated with this Plan to the extent
required by Section 409A of the Code. 
 If the Participant elected a single life annuity, no Preretirement Survivor Annuity shall be
payable to the surviving spouse. 
 5.2 Payment of a Preretirement Survivor Annuity. If the Participant is at least age 55 on the date
of his or her death, payment of the Preretirement Survivor Annuity shall commence, or be paid in the case of a lump sum, on the first business day of the month following the Participant’s death, but in no event later than 90 days following the
Participant’s death. If the Participant has not attained age 55 on the date of his or her death, payment of the Preretirement Survivor Annuity shall commence, or be paid in the case of a lump sum, on the first business day of the month
following the date that the Participant would have attained age 55 if he or she had lived, but in no event later than 90 days following the date the Participant would have attained age 55 if he or she had lived. Payments under the Preretirement
Survivor Annuity shall cease upon the death of the surviving spouse. 
  

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 5.3 Exceptions to the Payment of a Preretirement Survivor Annuity. A Preretirement Survivor
Annuity shall not be payable in the event of the Participant’s death if: 
  

	 	(a)	The Participant is not married on his or her date of death; 

  

	 	(b)	The Participant and his or her spouse have not been married throughout the one-year period preceding the Participant’s death; and 

  

	 	(c)	The Participant has incurred a Termination from Employment and elected to have his or her BEP Benefit paid in the form of a single life annuity. 

  

	 	(d)	The Participant has commenced payment of his or her BEP Benefit. 

 ARTICLE VI 
 Form of Payment 
 6.1 Payment Election. Each Participant who has not commenced payment of his or her BEP Benefit on or before December 31, 2008 shall make an election as to the time and form of payment of his or her BEP
Benefit no later than December 31, 2008. An Eligible Employee who becomes a Participant in the Plan after December 31, 2008, shall make an election as to the time and form of payment of his or her BEP Benefit upon becoming a Participant in
the Plan. 
 A Participant may make one subsequent election as to the time of payment of his or her BEP Benefit. The election must be made at
least twelve months prior to the date that payments would have commenced but for the subsequent election, and payments shall not commence before the date that is five years after the date that payments would have commence but for the subsequent
election. 
 6.2 Commencement of BEP Benefit. Payment of a Participant’s BEP Benefit shall commence, or be paid in the case of a
lump sum, on the later of (a) the first business day of the seventh month following the Participant’s Termination from Employment, (b) the first business day of the month following the Participant’s attainment of age 55, or
(c) the date specified by the Participant in his or her Payment Election. 
  

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 In the event that payment is made under subsection (a), payment of the Participant’s BEP Benefit
commence no later than the later of (i) December 31 of the calendar year which includes the date that is the first business day of the seventh month following the Participant’s Termination from Employment, and (ii) the fifteenth
day of the third calendar month following the date that is the first business day of the seventh month following the Participant’s Termination from Employment. If a Participant’s BEP Benefit is paid in the form of an annuity, on the first
day of the seventh month following the Participant’s Termination from Employment, he or she shall receive a lump sum payment equal to the payments that would have been paid during the six-month suspension period described in the preceding
sentence, adjusted for interest. Interest shall be the six-month certificate of deposit rate based on the average of New Jersey banks on the date of the Participant’s Termination from Employment. 
 In the event that payment is made under subsection (b), payment of the Participant’s BEP Benefit commence no later than the later of
(i) December 31 of the calendar year in which the Participant attained age 55, or (ii) the fifteenth day of the third calendar month following the date that the Participant attained age 55. 
 In the event that payment is made under subsection (c), payment of the Participant’s BEP Benefit commence no later than the later of
(i) December 31 of the calendar year which includes the date specified by the Participant in his or her Payment Election, or (ii) the fifteenth day of the third calendar month following the date specified by the Participant in his or
her Payment Election. 
 6.3 Forms of Payment. 
  

	 	(a)	A Participant shall elect to have his or her BEP Benefit paid in one of the following forms of payment: 

  

 12 

	 	(i)	Single life annuity; 

  

	 	(ii)	Joint and 50% survivor annuity; 

  

	 	(iii)	Joint and 66 2/3% survivor annuity; 

  

	 	(iv)	Joint and 75% survivor annuity; 

  

	 	(v)	Joint and 100% survivor annuity; 

  

	 	(vi)	Five-year period certain annuity; and 

  

	 	(vii)	Ten-year period certain annuity. 

 The forms of payment set
forth in this Section 6.3 of the Plan shall be actuarially equivalent and shall be based on the actuarial assumptions described in Appendix A of the Plan. 
  

	 	(b)	A Participant who elects a form of payment other than a single life annuity shall designate a beneficiary. A married Participant shall be permitted to designate a non-spousal
beneficiary without the consent of his or her spouse. 

  

	 	(c)	Prior to commencement of payment of a Participant’s BEP Benefit, the Participant may elect a different form of annuity, provided that the payment forms are actuarially
equivalent. Such a change in annuity shall not be considered a change in the time and form of a payment under Section 409A of the Code. 

  

	 	(d)	If on the date that the Participant’s BEP Benefit would otherwise commence pursuant to Section 6.2 of the Plan, the lump sum present value of his or her BEP Benefit is
less than the amount specified in Section 402(g) of the Code, payment of his or her BEP Benefit shall be paid in a lump sum on the date specified in Section 6.2 of the Plan. For purpose of this subsection (d), all other non-qualified
deferred compensation plans of the Company shall be aggregated with this Plan to the extent such aggregation is required by Section 409A of the Code. 

 6.4 Default Election. In the event Participant incurs a Termination from Employment and has not made a Payment Election, such Participant’s BEP Benefit shall be paid as a single life annuity (if the
Participant is not married on the date of his or her Termination from Employment) or a joint and 66 2/3% survivor annuity (if the Participant is married on the date of his or her Termination from Employment). 
  

 13 

 Payment of a Participant’s BEP Benefit shall commence, or be paid in the case of a lump sum, on the
later of (a) the first business day of the seventh month following the Participant’s Termination from Employment, (b) the first business day of the month following the Participant’s attainment of age 55, or (c) the date
specified by the Participant in his or her Payment Election. Payment of the Participant’s BEP Benefit commence on the first business day of the seventh month following the date of the Participant’s Termination from Employment, but in no
event later than the later of (i) December 31 of the calendar year which includes the date that is the first business day of the seventh month following the Participant’s Termination from Employment, (ii) the fifteenth day of the
third calendar month following the date that is the first business day of the seventh month following the Participant’s Termination from Employment. On the first business day of the seventh month following the date of the Participant’s
Termination from Employment, the Participant shall receive a lump sum payment equal to the payments that would have been paid during the six-month suspension period described in the preceding sentence, adjusted for interest. Interest shall the
six-month certificate of deposit rate based on the average of New Jersey banks on the date of the Participant’s Termination from Employment. 
 6.5 Payment upon a Change in Control. Each Participant in the Plan who has not commenced payment of his or her BEP Benefit on or before December 31, 2008 may make an election no later than December 31, 2008 as to whether
his or her BEP Benefit shall be paid in a lump sum upon a Change in Control. Each Participant who is receiving annuity payments under the Plan may make an election no later than December 31, 2008 as to whether his or her remaining BEP Benefit
shall be paid in a lump sum upon a Change in Control. An Eligible Employee who becomes a Participant in the Plan after December 31, 2008 may make an election upon becoming a Participant in the Plan as to whether his or her BEP Benefit shall be
paid in a lump sum upon a Change in Control. 
  

 14 

 The lump sum payment shall be made on the first business day of the month following the Change in
Control, but in no event later than the later of (i) December 31 of the calendar year which includes the Change in Control, or (ii) the fifteenth day of the third calendar month following the Change in Control. Payment under this
Section 6.4 of the Plan shall be made regardless of whether the Participant has incurred a Separation from Service. The amount of the lump sum payment shall be equal to the present value of the lump sum payable at the Participant’s normal
retirement age (as defined under the Pension Plan) based on the actuarial assumptions specified in Appendix A of the Plan. The Participant’s lump sum payable at his or her normal retirement age shall be actuarially reduced for payment prior to
his or her normal retirement age using the reduction factors specified in Appendix A of the Pension Plan for such purpose. 
 If a
Participant elects to have his or her BEP Benefit paid in a lump sum upon a Change in Control, such Participant shall cease to accrue a benefit under the Plan upon a Change in Control, except to the extent otherwise provided in an individual
agreement. Payment of any additional BEP Benefit shall be paid in a lump sum on the first business day of the month following the Participant’s Termination from Employment, provided that Termination of Employment occurs not more than two years
following Change in Control. If the Participant’s Termination from Employment occurs more than two years following a Change in Control, the Participant’s BEP Benefit shall be paid in accordance with the Participant’s Payment Election.

 ARTICLE VII 
 Administration 
 7.1 Plan Administrator. The Plan Administrator shall supervise the daily management and
administration of the Plan. The Plan Administrator shall serve without compensation. 
  

 15 

 7.2 Responsibilities and Powers of the Plan Administrator. The Plan Administrator shall have the
responsibility: 
  

	 	(a)	To administer the Plan in accordance with the terms hereof, and to exercise all powers specifically conferred upon the Plan Administrator hereby or necessary to carry out the
provisions thereof. 

  

	 	(b)	To construe this Plan, which construction shall be conclusive, correct any defects, supply omissions, and reconcile inconsistencies to the extent necessary to effectuate the Plan.

  

	 	c)	To keep all records relating to Participants of the Plan and such other records as are necessary for proper operation of the Plan. 

 7.3 Operation of the Plan Administrator. In carrying out the Plan Administrator’s functions hereunder: 
  

	 	(a)	The Plan Administrator may adopt rules and regulations necessary for the administration of the Plan and which are consistent with the provisions hereof. 

  

	 	(b)	If the Plan Administrator is a committee, all acts and decisions of the Plan Administrator shall be approved by a majority of the members of the committee. All decisions shall apply
uniformly to all Participants in like circumstances. Written records shall be kept of all acts and decisions. 

  

	 	(c)	If the Plan Administrator is a committee, the Plan Administrator may authorize one or more of its members to act on its behalf. The Plan Administrator may also delegate, in writing,
any of its responsibilities and powers to an individual(s) who is not a member of the committee. 

  

	 	(d)	The Plan Administrator shall have the right to hire, at the expense of the Company, such professional assistants and consultants as it, in its sole discretion, deems necessary or
advisable, including, but not limited to, accountants, actuaries, consultants, counsel and such clerical assistance as is necessary for proper discharge of its duties. 

 7.4 Indemnification. In addition to any other indemnification that a fiduciary, including but not limited to a member of the Plan Administrator or
Compensation Committee, is entitled to, the Company shall indemnify such fiduciary from all claims for liability, loss or damage (including payment of expenses in connection with defense against such claim) arising from any act or failure to act
which constitutes a breach of such individual’s fiduciary responsibilities with respect to this Plan. 
  

 16 

 ARTICLE VIII 
 Miscellaneous 
 8.1 Benefits Payable by the Company. All benefits payable under this
Plan constitute an unfunded obligation of the Company. Payments shall be made, as due, from the general funds of the Company. The Company, at its option, may maintain one or more bookkeeping reserve accounts to reflect its obligations under the Plan
and may make such investments as it may deems desirable to assist it in meeting with obligations. Any such investments shall be assets of the Company subject to claims of its general creditors. No person eligible for a benefit under this Plan shall
have any right, title to interest in any such investments. 
 8.2 Amendment or Termination. 
  

	 	(a)	The Board of Directors reserves the right to amend, modify, restate or terminate the Plan; provided, however, that no such action by the Board of Directors shall reduce a
Participant’s BEP Benefit accrued as of the time thereof. The provisions of this Section prohibiting an action by the Board of Directors which would reduce a Participant’s accrued BEP Benefit cannot be amended without the consent of all
Participants (including those who have retired). Any amendment to the Plan shall be made in writing by the Board of Directors, with or without a meeting, or shall be made in writing by the Plan Administrator or Compensation Plan Administrator, to
the extent that Board of Directors has specifically delegated the authority to make such amendment to the Plan the Plan Administrator or Compensation Plan Administrator. 

  

	 	(b)	Notwithstanding anything in the Plan to the contrary, the Board of Directors may change the 6% cap on the interest rate specified in Appendix A of the Plan, provided that all
Participants (including those who have retired) consent in writing to such change. 

  

	 	(c)	 If the Plan is terminated, a determination shall be made of each Participant’s BEP Benefit as of the Plan termination date (determined in accordance with
Section 8.2(a)). The amount of such benefits shall be payable to the Participant at the time it would have been payable under Article VI if the 

  

 17 

	 	 
Plan had not been terminated, but in no event later than the date specified in Section 409A of the Code. No interest shall be credited on a BEP Benefit.

 8.3 Status of Employment. Nothing herein contained shall be construed as conferring any rights upon any
Participant or any person for a continuation of employment, nor shall it be construed as limiting in any way the right of the Company to discharge any Participant or to treat him or her without regard to the effect which such treatment might have
upon him or her as a Participant of the Plan. 
 8.4 Payments to Minors and Incompetents. If a Participant or beneficiary entitled to
receive any benefits hereunder is a minor or is deemed by the Plan Administrator or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, they will be paid to the duly appointed guardian of such minor or
incompetent or to such other legally appointed person as the Plan Administrator might designate. Such payment shall, to the extent made, be deemed a complete discharge of any liability for such payment under the Plan. 
 8.5 Inalienability of Benefits. The right of any person to any benefit or payment under the Plan shall not be subject to voluntary or involuntary
transfer, alienation or assignment, and, to the fullest extent permitted by law, shall not be subject to attachment, execution, garnishment, sequestration or other legal or equitable process. In the event a person who is receiving or is entitled to
receive benefits under the Plan attempts to assign, transfer or dispose of such right, or if an attempt is made to subject said right to such process, such assignment, transfer or disposition shall be null and void. 
 8.6 Arbitration. The parties agree that any dispute or claim arising out of or relating to this Plan, including whether such disputes or claims
are arbitrable, will be settled by binding arbitration. The arbitration proceeding will be conducted before a single arbitrator at a location within the State of New Jersey convenient to the parties and under the rules of the 

  

 18 

 
American Arbitration Association. The decision or award of the Arbitrator made under these rules shall be exclusive, final and binding on both parties, their
beneficiaries, executors, administrators, successors and assigns. This arbitration procedure may be invoked by written notice to the American Arbitration Association stating with particularity the issue proposed for arbitration. A copy of that
written notice shall be served upon the other party by registered mail. In the event of a Change in Control as defined in the Participation Agreement, this Section 8.6 will cease to apply. 
 8.7 Governing Law. Except to the extent pre-empted by federal law, the provisions of the Plan will be construed according to the laws of the State
of New Jersey. 
 IN WITNESS WHEREOF, the Board of Directors has directed its duly authorized officer to set his hand this
             day of                         , 2008
effective as of January 1, 2009. 
  

			
	VALLEY NATIONAL BANCORP
		
	By:	 	 
		 	

  

 19 

 APPENDIX A 
 ACTUARIAL ASSUMPTIONS 
 1. For purposes of determining the amount of a Participant’s BEP
Benefit payable in the form of annuity described in Section 6.3 of the Plan or under Article V of the Plan, the following actuarial assumptions shall be used: [actuary to insert] 
 2. For purposes of determining the amount of a Participant’s BEP Benefit paid as a lump sum, the following actuarial assumptions shall be used:

  

	 	(a)	The Applicable Mortality Table, as defined under the Pension Plan; and 

  

	 	(b)	The lesser of: 

  

	 	(i)	The Applicable Interest Rate determined as of the end of the calendar month immediately preceding the month the lump sum payment is made, or 

  

	 	(ii)	6%. 

 The Applicable Interest Rate shall have the same
meaning as such term has under the Pension Plan, except that the Applicable Interest Rate under the Plan shall be determined as of the date specified in subsection (ii) rather than the date specified in the Pension Plan. 
  

 20

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