Amended and Restated Change in Control Agreement between Registrant and Dennis L. Algiere
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Summary
This agreement is between the company (the Registrant) and Dennis L. Algiere, its Executive Vice President, Chief Compliance Officer, and Director of Community Affairs. It outlines the terms for compensation and benefits if Mr. Algiere's employment ends due to a change in control of the company. Under this agreement, he is entitled to a severance payment equal to two times his base salary and continued benefits for 24 months following such an event.
EX-10.1 2 exhibit10110q2019q1.htm EXHIBIT 10.1 TO FORM 10-Q 3-31-19 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 March 27, 2019, the Registrant entered into such an Agreement with the executive officer 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) |
Dennis L. Algiere | 2 times | 24 months |
Executive Vice President, Chief Compliance Officer and Director of Community Affairs |