SEC Contract Filing

Filing Date: 2019-04-12

Document Content:
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<TYPE>EX-10.4
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<DESCRIPTION>EX-10.4
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Pay to Integrate/Produce </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RETENTION AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Name: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Employee Number: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As you know, it was announced
on February&nbsp;7, 2019 that SunTrust and BB&amp;T will merge (the &#147;<U>Merger</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SunTrust is implementing a retention
program to ensure that the integration of SunTrust and BB&amp;T and critical business initiatives go smoothly. You are a valued employee and SunTrust and BB&amp;T believe your continued service is essential to the business activities of the two
companies (the &#147;<U>Combined Company</U>&#148;). Recognizing that these are uncertain times, we are pleased to offer you participation in the retention program, as described below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Retention Award Terms </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the
program, you will be eligible to receive the Retention Award at the end of the Retention Period as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retention
Award</U>&#148; means $[&#9679;], less all applicable taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retention Period</U>&#148; means the period from March&nbsp;15,
2019 through October&nbsp;1, 2021. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Eligibility Requirements and Conditions for Retention Award </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To be eligible to receive the Retention Award: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">You must remain employed by the Combined Company through the end of the Retention Period, unless your employment
is involuntarily terminated following the date of the closing of the Merger and prior to the end of the Retention Period (as set forth in <U>Appendix A</U> attached hereto). </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">You must sign this Agreement, the accompanying Executive Severance Plan letter agreement and the Pay to Lead
Retention Agreement by [&#9679;] and abide by their terms. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">You must sign the attached Arbitration Agreement by [&#9679;], although nothing contained in the Arbitration
Agreement shall interfere with the claims procedures provided under any plans containing such provisions or required by applicable law. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you continue to be employed with the Combined Company through the last day of the
Retention Period, your right to receive the Retention Award will v