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PNC » Topics » FIRST AMENDMENT TO SUPPLEMENTAL RETIREMENT AGREEMENT

This excerpt taken from the PNC 10-Q filed May 9, 2007.

FIRST AMENDMENT TO SUPPLEMENTAL RETIREMENT AGREEMENT

WHEREAS, MERCANTILE BANKSHARES CORPORATION and MERCANTILE SAFE-DEPOSIT AND TRUST COMPANY (collectively, the “Employer”) and Edward J. Kelly, III (the “Executive”) entered into a Supplemental Retirement Agreement dated February 2, 2001; and

WHEREAS, the Employer and the Executive wish to amend the Supplemental Retirement Agreement in order that it may comply with Section 409A of the Internal Revenue Code of 1986, as amended.

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