Executive Stock Option Agreement – Bank of NY Mellon

THE BANK OF NEW YORK MELLON CORPORATION

The Bank of New York Mellon Corporation Long-Term
Incentive Plan

FORM OF NONSTATUTORY STOCK OPTION AGREEMENT

The Bank of New York Mellon Corporation (the “Corporation”) and
, a key employee (the
“Optionee”) of the Corporation, in consideration of the covenants and agreements
herein contained and intending to be legally bound hereby, agree as follows:

SECTION 1: Grant

1.1 Grant of Option. Subject to the terms and conditions set forth in
this Nonstatutory Stock Option Agreement (this “Agreement”) and to the terms of
The Bank of New York Mellon Corporation Long-Term Incentive Plan (the “Plan”),
the Corporation hereby grants to the Optionee a stock option (the “Option”) to
purchase shares of the Corporation153s common stock, par
value $.01, (the “Common Stock”) from the Corporation at a price of
$ per share (the “Option Price”), which is the Fair Market Value
of the shares of Common Stock covered by the Option on
(the “Grant Date”). Capitalized terms not otherwise
defined herein shall have the meaning set forth in the Plan.

1.2 Acceptance. The Optionee accepts the grant of the Option confirmed
hereby, and agrees to be bound by the terms and provisions of this Agreement and
the Plan, as this Agreement and the Plan may be amended from time to time;
provided, however, that no alteration, amendment, revocation or
termination of the Agreement or the Plan shall, without the written consent of
the Optionee, adversely affect the rights of the Optionee with respect to the
Option.

SECTION 2: Vesting, Exercise and Expiration

2.1 Vesting. Subject to Sections 3 and 4.8 of this Agreement, the
Option will vest and become exercisable in annual installments over a four-year
vesting period according to the following vesting schedule:

¹/4 of the Option will vest upon the 1^st anniversary
of the Grant Date;

an additional ¹/4 of the Option will vest upon the 2^nd
anniversary of the Grant Date;

an additional ¹/4 of the Option will vest upon the 3^rd
anniversary of the Grant Date; and

an additional ¹/4 of the Option will vest upon the 4^th
anniversary of the Grant Date;

provided that the Optionee is employed by the Corporation on such
anniversary, with all fractional shares, if any, rounded up and vesting as whole
shares upon the earlier vesting date(s). “Corporation,” when used herein with
reference to employment of the Optionee, shall include any Affiliate of the
Corporation. To the extent vested, the Option may be exercised in whole or in
part from the date of vesting through and including the Option Expiration Date,
as defined in Section 2.3 hereof, subject to any limits provided in Section 3.

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2.2 Exercise. This Option shall be exercised by the Optionee by
delivering to the Executive Compensation Division of the Corporation153s Human
Resources Department (i) this Agreement signed by the Optionee, (ii) a written
(including electronic) notification specifying the number of shares which the
Optionee then desires to purchase, (iii) a check payable to the order of the
Corporation, which may include cash forwarded through the broker or other
agent-sponsored exercise or financing program approved by the Corporation,
and/or shares, or certification of ownership for shares, of Common Stock equal
in value to the aggregate Option Price of such shares and/or an instruction from
the Optionee directing the Corporation to withhold shares of Common Stock
otherwise receivable upon exercise of this Option (subject to any restrictions
regarding prior ownership of such shares or an equivalent number of shares
imposed by the Corporation), and (iv) a stock power executed in blank for any
shares of Common Stock delivered or withheld pursuant to clause (iii) hereof.
Shares of Common Stock surrendered, certified or withheld in exercise of this
Option shall be subject to terms and conditions imposed by the Committee and
shall be valued as of the date, and by the means, prescribed by the
Corporation153s procedures in effect at the time of such exercise and in
accordance with the terms of the Plan. As soon as practicable after each
exercise of this Option and compliance by the Optionee with all applicable
conditions, the Corporation will credit the number of shares of Common Stock, if
any, which the Optionee is entitled to receive upon such exercise under the
provisions of this Agreement to a book-entry account in the Optionee153s name.

2.3 Expiration. The Option shall expire and cease to be exercisable on
the earlier of (a) either (i) the last trading day immediately preceding the ten
year anniversary of the Grant Date or, if earlier, (ii) the date of cancellation
provided for in Section 4.8 (the earlier of (i) and (ii) referred to as the
“Option Expiration Date”) or (b) the expiration date provided for in Section 3.

SECTION 3: Termination of Employment and Disability

3.1 Termination of Employment.

(a) General. If the Optionee153s employment with the Corporation is
terminated, this Option will expire on the Termination Date except as provided
in Sections 3.2 or 3.3 hereof.

(b) Meaning of Terms. As used in this Agreement, (i) “Termination
Date” shall mean the date upon which the Optionee ceases performing services as
an employee of the Corporation, without regard to accrued vacation, severance or
other benefits or the characterization thereof on the payroll records of the
Corporation; and (ii) “Payroll Separation Date” shall mean the last day for
which the Optionee receives salary continuance or separation/transition pay from
the Corporation, if any, without regard to any period during which receipt of
payments may be delayed to avoid imposition of additional taxes under
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). If
the Optionee does not receive salary continuance or separation/transition pay
from the Corporation, the Payroll Separation Date will be the same date as the
Termination Date.

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3.2 Specified Terminations of Employment.

(a) Termination Without Cause/With Cause. If the Optionee153s employment
is terminated by the Corporation “without cause,” as defined in Section 3.5(e)
of the Plan, the unvested portion of the Option will expire on the Termination
Date and the Optionee will have thirty days following the Termination Date to
exercise the portion of the Option that was vested on the Termination Date;
provided, however, if the Optionee is entitled to separation/transition
pay from the Corporation, the unvested portion of the Option will expire on the
Payroll Separation Date and the vested portion of the Option may be exercised
for one year following the Payroll Separation Date; provided further,
in any case the Option may not extend beyond the Option Expiration Date.
Upon the effective date of a termination of the Optionee153s employment with the
Corporation for cause, the Option will immediately expire without consideration
or further action being required of the Corporation, and without regard to any
delay pursuant to Section 3.4 below.

(b) Termination following Satisfaction of Age and Service
Criteria:

(i) Age 55 until 60. If the Payroll Separation Date occurs on or
after the Optionee153s attainment of age 55 but prior to age 60, the Option will
continue to vest as set forth in Section 2.1 hereof through the Payroll
Separation Date and the Optionee will have three years from the Payroll
Separation Date to exercise the portion of the Option that was vested as of such
date (or, if earlier, until the Option Expiration Date).

(ii) Age 60 until 65. If the Payroll Separation Date occurs on or
after the Optionee153s attainment of age 60 but prior to age 65, the Option will
continue to vest as set forth in Section 2.1 hereof during the five year period
following the Payroll Separation Date and the Optionee will have five years
following the Payroll Separation Date to exercise the Option to the extent it is
or becomes vested during such period (or, if earlier, until the Option
Expiration Date).

(iii) Age 65 and over. If the Payroll Separation Date occurs on or
after the Optionee153s attainment of age 65, this Option will automatically become
fully exercisable upon the Termination Date (or, if the Optionee has not
attained age 65 on the Termination Date, upon the date on which the Optionee
attains age 65) and the Optionee will have seven years following the Payroll
Separation Date to exercise the Optionee153s vested Option (or if earlier, until
the Option Expiration Date).

(c) Sale of Business Unit or Subsidiary. If the Optionee153s employment
with the Corporation is terminated by the Corporation due to the sale of a
business unit or subsidiary of the Corporation by which the Optionee is
employed, and the Optionee is not otherwise entitled to transition/separation
pay from the Corporation, upon the Termination Date any then unvested Option
shall vest on a pro-rata basis equal to (i) the number of whole and fractional
months from the Grant Date through the Termination Date (without regard to any
delayed vesting under Section 3.4 below), divided by (ii) 48 months, with the
result multiplied by (iii) the total number of the shares subject to the Option,
with that result reduced by (iv) the number of shares subject to the Option that
were already vested as of the Termination Date. Any then remaining portion of
the Option will expire immediately. In such case, the Optionee will have two
years following the Termination Date to exercise the Option that was or became
vested as of the Termination Date (or if earlier, until the Option Expiration
Date).

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(d) Death. If the Optionee shall die while employed by the
Corporation, or within a period following termination of employment during which
this Option remains exercisable, the then remaining unvested portion of this
Option shall automatically become fully exercisable and the executor or
administrator of the Optionee153s estate or the person or persons to whom the
Optionee shall have transferred such right by Will or by the laws of descent and
distribution will have two years following the date of death to exercise the
Optionee153s vested Option (or if earlier, until the Option Expiration Date).

(e) Change in Control. If the Optionee153s employment is terminated by
the Corporation “without cause,” as defined in Section 3.5(e) of the Plan,
within two years after a Change in Control, as defined in Section 3.2(f) of this
Agreement, occurring after the Grant Date, this Option shall automatically
become fully exercisable and the Optionee will have one year following the
Payroll Separation Date to exercise the Optionee153s vested Option (or if earlier,
until the Option Expiration Date). The definition of Change in Control as
provided in the Plan is expressly inapplicable to this Agreement.

(f) Change in Control Definition. For purposes of this Agreement,
“Change in Control” means the occurrence of any one of the following events:

(i) During any period of not more than two (2) years, the Incumbent Directors
no longer represent a majority of the Board. “Incumbent Directors” are (A) the
members of the Board as of July 1, 2007 and (B) any individual who becomes a
director subsequent to the date hereof whose appointment or nomination was
approved by at least a majority of the Incumbent Directors then on the Board
(either by specific vote or by approval, without prior written notice to the
Board objecting to the nomination, of a proxy statement in which the member was
named as nominee). However, the Incumbent Directors will not include anyone who
becomes a member of the Board after the date hereof as a result of an actual or
threatened election contest or proxy or consent solicitation on behalf of anyone
other than the Board, including as a result of any appointment, nomination or
other agreement intended to avoid or settle a contest or solicitation;

(ii) There is a beneficial owner of securities entitled to 30% or more of the
total voting power of the Corporation153s then-outstanding securities in respect
of the election of the Board (the “Voting Securities”), other than (A) the
Corporation, any Subsidiary of it or any employee benefit plan or related trust
sponsored or maintained by the Corporation or any Subsidiary of it; (B) any
underwriter temporarily holding securities pursuant to an offering of them;
(C) anyone who becomes a beneficial owner of that percentage of Voting
Securities as a result of an Excluded Transaction (as defined below); or
(D) anyone who becomes a beneficial owner of that percentage of Voting
Securities as a result of a transaction in which Voting Securities are acquired
from the Corporation, if the transaction is approved by a majority of the
Incumbent Directors in a resolution that expressly states that the transaction
is not a Change in Control under Section 2(e) of the Corporation153s Executive
Severance Plan;

(iii) Consummation of a merger, consolidation, statutory share exchange or
similar transaction (including an exchange offer combined with a merger or
consolidation) involving the Corporation (a “Reorganization”) or a sale, lease
or other disposition (including by

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way of a series of transactions or by way of merger, consolidation, stock
sale or similar transaction involving one or more subsidiaries) of all or
substantially all of the Corporation153s consolidated assets (a “Sale”) other than
an Excluded Transaction. A Reorganization or Sale is an “Excluded Transaction”
if immediately following it: (A) 50% or more of the total voting power of the
Surviving Corporation153s then-outstanding securities in respect of the election
of directors (or similar officials in the case of a non-corporation) is
represented by Voting Securities outstanding immediately before the
Reorganization or Sale or by securities into which such Voting Securities were
converted in the Reorganization or Sale; (B) there is no beneficial owner of
securities entitled to 30% or more of the total voting power of the
then-outstanding securities of the Surviving Corporation in respect of the
election of directors (or similar officials in the case of a non-corporation);
and (C) a majority of the board of directors of the Surviving Corporation (or
similar officials in the case of a non-corporation) were Incumbent Directors at
the time the Board approved the execution of the initial agreement providing for
the Reorganization or Sale. The “Surviving Corporation” means in a
Reorganization, the entity resulting from the Reorganization or in a Sale, the
entity that has acquired all or substantially all of the assets of the
Corporation, except that, if there is a beneficial owner of securities entitled
to 95% of the total voting power (in respect of the election of directors or
similar officials in the case of a non-corporation) of the then-outstanding
securities of the entity that would otherwise be the Surviving Corporation, then
that beneficial owner will be the Surviving Corporation; or

(iv) the stockholders of the Corporation approve a plan of complete
liquidation or dissolution of the Corporation.

For purposes of the foregoing definition, “Subsidiary” means any corporation
or other entity in which the Corporation has a direct or indirect ownership
interest of 50% or more of the total combined voting power of the then
outstanding securities or interests of such corporation or other entity entitled
to vote generally in the election of directors (or members of any similar
governing body) or in which the Corporation has the right to receive 50% or more
of the distribution of profits or 50% of the assets or liquidation or
dissolution.

[(g) Special Termination Right. If the Optionee153s employment is
terminated pursuant to the terms and conditions of the Special Termination
Right, as such term is defined in
, the unvested portion of the Option will fully vest and become immediately
exercisable upon the Termination Date, and will continue to be outstanding and
in effect for five years following the Termination Date.]

(h) Limitation. During any interim period in which Optionee153s
entitlement to separation/transition pay is not yet established, Optionee shall
not be permitted to exercise this Option in cases where the exercise or vesting
thereof is dependent upon whether the Optionee is so entitled.

3.3 Disability. This Option shall automatically vest and become fully
exercisable on the first day for which the Optionee receives long-term
disability benefits under the Corporation153s long-term disability plan, and the
Optionee will have two years following such date to exercise the Optionee153s
vested Option (or if earlier, until the Option Expiration Date).

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3.4 Delayed Vesting. Notwithstanding the foregoing provisions of this
Section, any vesting under this Agreement which would otherwise occur within one
year from the Grant Date will be delayed until the one year anniversary of the
Grant Date except in the case of vesting due to death, disability or as may be
required by prior contractual obligation.

SECTION 4: Miscellaneous

4.1 No Right to Employment. Neither the grant of the Option nor
anything else contained in this Agreement or the Plan shall be deemed to limit
or restrict the right of the Corporation to terminate the Optionee153s employment
at any time, for any reason, with or without cause.

4.2 Nontransferable. This Option may not be transferred except by the
Optionee upon his or her death. No other assignment or transfer of this Option,
or of the rights represented thereby, whether voluntary or involuntary, by
operation of law or otherwise shall be permitted, but immediately upon any such
assignment or transfer this Option shall terminate and become of no further
effect. During the Optionee153s life this Option shall be exercisable only by the
Optionee, and after the Optionee153s death the Option shall remain subject to any
restrictions on exercise and otherwise as if held by the Optionee. Whenever the
word “Optionee” is used in any provision of this Option under circumstances
where the provision should logically be construed to apply to the executors, the
administrators or other persons to whom this Option may be transferred, the word
“Optionee” shall be deemed to include such person or persons.

4.3 Adjustment. This Option is subject to adjustment as provided in
Article IX of the Plan.

4.4 Compliance with Laws. Notwithstanding any other provision hereof,
the Optionee hereby agrees that he or she will not exercise the Option, and that
the Corporation will not be obligated to issue any shares to the Optionee
hereunder, if the exercise thereof or the issuance of such shares shall
constitute a violation by the Optionee or the Corporation of any provision of
law or regulation of any governmental authority. Any determination in this
connection by the Committee shall be final, binding and conclusive. The
Corporation shall in no event be obliged to register any securities pursuant to
the Securities Act of 1933 (as the same shall be in effect from time to time) or
to take any other affirmative action in order to cause the exercise of the
Option or the issuance of shares pursuant thereto to comply with any law or
regulation of any governmental authority. For the avoidance of doubt, the
Optionee understands and agrees that if any payment or other obligation under of
arising from this Agreement or the Plan is in conflict with or is restricted by
any U.S. federal, state or local or other applicable law (including without
limitation, any regulations and interpretations thereunder), then the
Corporation may reduce, revoke, cancel, clawback or impose different terms and
conditions to the extent it deems necessary or appropriate, in its sole
discretion, to effect such compliance.

4.5 Plan Governs. This is the Award Agreement referred to in
Section 2.3(b) of the Plan. To the extent that any written and effective offer
letter or employment agreement with the Optionee contains terms with respect to
vesting and exercise periods of stock options that are more

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favorable than those contained herein, such terms shall apply as if part of
this Agreement, provided that the Optionee has complied with the terms
of such offer letter and/or employment agreement. In the event of any
inconsistency between the provisions of this Agreement and the Plan, the Plan
shall govern. A copy of the Plan may be obtained from the Executive Compensation
Division of the Corporation153s Human Resources Department. No amount of income
received by an Optionee pursuant to this Agreement shall be considered
compensation for purposes of any pension or retirement plan, insurance plan or
any other employee benefit plan of the Corporation.

4.6 Nonstatutory Stock Option. The parties hereto agree that the
Option granted hereby is not, and should not be construed to be, an incentive
stock option under Section 422 of the Code.

4.7 Tax Withholding. In each case where the Optionee exercises this
Option in whole or in part, the Corporation will notify the Optionee of the
amount of withholding tax, if any, required under federal and, where applicable,
state and local law, and the Optionee shall, forthwith upon the receipt of such
notice, remit the required amount to the Corporation or, in accordance with such
regulations as the Committee may prescribe, elect to have the withholding
obligation satisfied in whole or in part by the Corporation withholding full
shares of Common Stock and crediting them against the withholding obligation.
The Corporation153s obligation to issue or credit shares to the Optionee is
contingent upon the Optionee153s satisfaction of an amount sufficient to satisfy
any federal, state, local or other withholding tax requirements.

4.8 Forfeiture and Repayment. If, directly or indirectly:

(a) during the course of the Optionee153s employment with the Corporation or,
if longer, the period during which this Option is outstanding, the Optionee
engages in conduct or it is discovered that the Optionee engaged in conduct that
is materially adverse to the interests of the Corporation, including failures to
comply with the Corporation153s rules or regulations, fraud, or conduct
contributing to any financial restatements or irregularities;

(b) during the course of the Optionee153s employment with the Corporation and,
unless the Optionee has post-termination obligations or duties owed to the
Corporation or its Affiliates pursuant to an individual agreement set forth in
subsection (d) below, for one year thereafter, the Optionee engages in
solicitation and/or diversion of customers or employees;

(c) during the course of the Optionee153s employment with the Corporation, the
Optionee engages in competition with the Corporation or its Affiliates;

(d) following termination of the Optionee153s employment with the Corporation
for any reason, with or without cause, the Optionee violates any
post-termination obligations or duties owed to the Corporation or its Affiliates
or any agreement with the Corporation or its Affiliates, including without
limitation, any employment agreement, confidentiality agreement or other
agreement restricting post-employment conduct; or

(e) any compensation otherwise payable or paid to Optionee is required to be
forfeited and/or repaid to the Corporation pursuant to applicable regulatory
requirements;

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the Corporation may cancel all or any portion of this Option with respect to
the shares not yet exercised and/or require repayment of any shares (or the
value thereof) or amounts which were acquired from exercise of the Option. The
Corporation shall have sole discretion to determine what constitutes such
conduct and/or the application of regulatory requirements.

4.9 Governing Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of New York, other than any choice of law
rules calling for the application of laws of another jurisdiction.

4.10 Severability. The provisions of this Agreement are severable and
if any one or more provisions are determined to be illegal or otherwise
unenforceable, in whole or in part, the remaining provisions shall nevertheless
be binding and enforceable.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
Grant Date.

THE BANK OF NEW YORK MELLON CORPORATION
By:
		[Name/Title]
		OPTIONEE
		[Name/Title]

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