State Street Corp – ‘10-K’ for 12/31/93 – EX-10

As of:  Wednesday, 3/30/94   ·   For:  12/31/93   ·   Accession #:  950156-94-9   ·   File #:  0-05108

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        State Street Boston Corp. Form 10-K                   19    123K 
 2: EX-10       Material Contracts                                     6±    29K 
 3: EX-10       Material Contracts                                     2±    11K 
 4: EX-10       Material Contracts                                     1      8K 
 5: EX-10       Material Contracts                                     2±    11K 
 6: EX-10       Material Contracts                                     2±    10K 
 7: EX-10       Material Contracts                                     2±     9K 
 8: EX-10       Material Contracts                                    13±    60K 
 9: EX-11       Statement Re Computation of Per Share Earnings         1     10K 
10: EX-12       Statement Re Computation of Ratios                     2±    11K 
11: EX-13       Annual Report to Stockholders                          2±    12K 
12: EX-13       Annual Report to Stockholders                         24±    97K 
13: EX-13       Annual Report to Stockholders                          2±    13K 
14: EX-13       Annual Report to Stockholders                         20    106K 
15: EX-21       Subsidiaries of the Registrant                         2±    11K 
16: EX-23       Consents of Experts and Counsel                        1      8K 

EX-10   —   Material Contracts

                                                             EXHIBIT 10.12

INDIVIDUAL PENSION AGREEMENT FOR A. E. PETERSEN                         

   The State Street Boston Corporation (the "Bank") maintains the State Street
Boston Retirement Plan ("Retirement Plan").  The bank also maintains the        
Supplemental Executive Retirement Plan ("SERP"), as amended from time to time,  
which establishes the retirement benefit you are eligible for as a supplement   
to the benefit you are entitled to under the terms of the Retirement Plan.      
Nothing herein shall modify or amend any benefit or supplemental benefit        
payable under the Retirement Plan or SERP and nothing herein shall act to       
modify any term of the Retirement Plan or SERP.                                 

With effect from August 1, 1991, State Street Boston Corporation agrees to      
provide you with an additional benefit in accordance with the terms of this     
letter:                                                                         

1.  AMOUNT OF ADDITIONAL BENEFIT.  The benefit shall be calculated as if a      
contribution had been made to the Retirement Plan in the following percentages  
of your Base Compensation under the Retirement Plan:                            

Additional Pension Contribution                                         
Year                As a Percent of Base Compensation     
1                               5.00%                   
Each Subsequent Year                    2.50%                           

For purposes of this calculation, a year shall have the same meaning as a Year  
of Service under the Retirement Plan, provided that 1991 shall be considered a  
year notwithstanding any term of the Retirement Plan.                           

Further for purposes of this calculation, your Base Compensation shall be       
calculated in accordance with the terms of the Retirement Plan, but             
notwithstanding any limitation on includible compensation or maximum benefit    
accruals imposed by the Internal Revenue Code upon qualified plans.             

2.  FORM AND PAYMENT OF BENEFIT.  The benefit provided for in this Agreement    
will be payable at the same time and in the same form as benefit payments from  
the Retirement Plan.  Your election as to the form and commencement of your     
Retirement Plan benefit shall automatically apply to the payment of any benefit 
hereunder.  Any consent or waiver effected by you or your spouse under any      
provision of the Retirement Plan will automatically operate as a consent or     
waiver to benefits hereunder.                                                   

3.  NON-ASSIGNMENT.  The right to benefits hereunder shall not be assignable    
and neither you, your spouse or any designated beneficiary under the Retirement 
Plan shall be entitled to have such benefits made or commuted otherwise than in 
accordance with Section 2.                                                      

4.  VESTING.  Your benefits hereunder shall vest fully on August 1, 1996 or     
such later date upon which you will have completed five Years of Service as     
such term is defined in the Retirement Plan.  Thereafter, all accruals shall    
vest immediately.                                                               

5.  MISCELLANEOUS.  This agreement does not create a trust or require current   
funding.  This Agreement can be amended at any time by mutual written agreement 
between you and the Bank.  This agreement shall be governed according to the    
laws of the Commonwealth of Massachusetts and you agree to bring any action     
related hereto in a court sitting in the Commonwealth.                          

State Street Boston Corporation           

By:  K. D. Stuart                             4/5/92
     -------------------------------          ------
    K. D. Stuart, S.V.P.                      Date
Human Resources, its Authorized           
Representative                            

Albert E. Petersen                        
     -------------------------------          ------
    Albert E. Petersen                        Date

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
		8/1/96
Filed on:		3/30/94
For Period End:		12/31/93		11-K,  DEF 14A
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