Amended and Restated Change in Control Agreement with Executive Officers (Maria N. Janes and Mary E. Noons)

Contract Categories: Human Resources › Change of Control Agreements
Summary

This agreement is between the company (the Registrant) and two executive officers, Maria N. Janes and Mary E. Noons. It outlines the terms for continued benefits if there is a change in control of the company. Each executive is entitled to a severance payment equal to two times their base salary and continued benefits for 24 months following such an event. The agreement ensures financial protection for these executives in the event of a company takeover or similar change.

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EX-10.1 2 exhibit10110q2016q3.htm EXHIBIT 10.1 TO FORM 10-Q 9-30-16 Exhibit


EXHIBIT 10.1

TERMS OF AMENDED AND RESTATED CHANGE IN CONTROL AGREEMENT

The form of Amended and Restated Change in Control Agreement (the “Agreement”), filed as Exhibit 10.2 on the Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2014 contains blanks where the multiple of the executive’s base amount and the term of continued benefits provided under the Agreement vary for certain executives. On September 22, 2016, the Registrant entered into such an Agreement with the executive officers below, providing continued benefits for the term, and at the multiple of such executive's base amount, as listed in the following chart:

Executive Officer
Number of Times Base Amount Section (4a)
Term of Continued Benefits Section (4 b & c)
Maria N. Janes
2 times
24 months
Executive Vice President and Controller
 
 
 
 
 
Mary E. Noons
2 times
24 months
Executive Vice President, Retail Lending