Amendment to Employment Agreements between Sterling Bancorp and Louis J. Cappelli and John C. Millman
Sterling Bancorp has amended the employment agreements of its Chairman, Louis J. Cappelli, and its President, John C. Millman. The amendment extends the term of Mr. Cappelli’s agreement to December 31, 2015, and Mr. Millman’s agreement to December 31, 2012. These changes were approved by the Compensation Committee and the Board of Directors. Both executives are required to sign and return the amendment to confirm their acceptance.
E X H I B I T 1 0 ( i i i ) ( K ) ( a )
S T E R L I N G B A N C O R P
March 8, 2011
Mr. Louis J. Cappelli, Chairman
Sterling Bancorp
650 Fifth Avenue
New York, New York 10019
Dear Mr. Cappelli:
This will confirm the following amendment to your Amended and Restated Employment Agreement, dated as of March 22, 2002, with our Company, which was last amended by letter agreement dated March 25, 2010:
The date in the third line of Paragraph 1 (captioned “Term”) is amended to December 31, 2015.
The foregoing amendment was adopted by the Compensation Committee and approved by the Board of Directors at its March 24, 2011 meeting.
Kindly sign and return the enclosed copy to the Company in order to confirm your understanding and acceptance of the foregoing amendment.
| Sincerely, | |||
| Sterling Bancorp | |||
| By: | /s/ Dale Fredston | ||
| Dale Fredston, Secretary | |||
Agreed:
/s/ Louis J. Cappelli
Louis J. Cappelli
E X H I B I T 1 0 ( i i i ) ( K ) ( b )
S T E R L I N G B A N C O R P
March 8, 2011
Mr. John C. Millman, President
Sterling Bancorp
650 Fifth Avenue
New York, New York 10019
Dear Mr. Millman:
This will confirm the following amendment to your Amended and Restated Employment Agreement, dated as of March 22, 2002, with our Company, which was last amended by letter agreement dated March 25, 2010:
The date in the third line of Paragraph 1 (captioned “Term”) is amended to December 31, 2012.
The foregoing amendment was adopted by the Compensation Committee and approved by the Board of Directors at its March 25, 2010 meeting.
Kindly sign and return the enclosed copy to the Company in order to confirm your understanding and acceptance of the foregoing amendment.
| Sincerely, | |||
| Sterling Bancorp | |||
| By: | /s/ Dale Fredston | ||
| Dale Fredston, Secretary | |||
Agreed:
/s/ John C. Millman
John C. Millman
