Amendment to Employment Agreement between Sterling Bancorp and Louis J. Cappelli (March 12, 2009)
Sterling Bancorp and its Chairman, Louis J. Cappelli, have agreed to amend Mr. Cappelli's existing employment agreement. The amendment changes the term of his employment, extending it until December 31, 2013. This change was approved by the company's Compensation Committee and Board of Directors. Mr. Cappelli is required to sign and return the amendment to confirm his acceptance.
EXHIBIT 10 (iii)(I)(a)
STERLING BANCORP LETTERHEAD
MARCH 12, 2009
March 12, 2009
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 13, 2009:
The date in the third line of Paragraph 1 (captioned “Term”) is amended to December 31, 2013.
The foregoing amendment was adopted by the Compensation Committee and approved by the Board of Directors at its March 12, 2009 meeting.
Kindly sign and return the enclosed copy to the Company in order to confirm your understanding and acceptance of the foregoing amendment.
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| Sincerely, |
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| By: | /s/ Dale C. Fredston |
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| Dale C. Fredston |
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| Secretary |
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| Agreed: |
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| /s/ Louis J. Cappelli |
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| Louis J. Cappelli |
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