Amendment to Employment Agreement between Sterling Bancorp and Louis J. Cappelli (2001)

Summary

Sterling Bancorp and its Chairman, Louis J. Cappelli, have agreed to amend Cappelli's employment agreement, originally dated February 19, 1993, and previously amended several times. The main change extends the term of Cappelli's employment with the company to December 31, 2005. This amendment was recommended by the Compensation Committee and approved by the Board of Directors. Cappelli's acceptance is confirmed by his signature.

EX-10.X.A 2 y46910ex10-x_a.txt AMENDMENTS TO EMPLOYMENT AGREEMENT RE CAPPELLI 1 Exhibit 10(x)(a) [STERLING BANCORP LETTERHEAD] February 26, 2001 Mr. Louis J. Cappelli, Chairman Sterling Bancorp 430 Park Avenue New York, New York 10022 Dear Mr. Cappelli: This will confirm the following amendments to your employment agreement, dated February 19, 1993 (as amended, February 14, 1995, February 8, 1996, February 28, 1997, February 19, 1998, May 22, 1998, March 9, 1999 and February 24, 2000), with our Company: The date in the third line of Paragraph 1 (captioned "Term") is amended to December 31, 2005. The foregoing amendment was recommended by the Compensation Committee and approved by the Board of Directors at its February 15, 2001 meeting. Kindly sign and return the enclosed copy to the Company in order to confirm your understanding and acceptance of the foregoing amendments. Sincerely, STERLING BANCORP By /s/ Jerrold Gilbert -------------------------- Executive Vice President Agreed: /s/ Louis J. Cappelli - ------------------------ Louis J. Cappelli