0001104659-21-151179.txt : 20211217 0001104659-21-151179.hdr.sgml : 20211217 20211217163052 ACCESSION NUMBER: 0001104659-21-151179 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20211213 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20211217 DATE AS OF CHANGE: 20211217 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STERLING BANCORP CENTRAL INDEX KEY: 0001070154 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 800091851 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35385 FILM NUMBER: 211501983 BUSINESS ADDRESS: STREET 1: TWO BLUE HILL PLAZA STREET 2: SECOND FLOOR CITY: PEARL RIVER STATE: NY ZIP: 10965 BUSINESS PHONE: 8453698040 MAIL ADDRESS: STREET 1: TWO BLUE HILL PLAZA STREET 2: SECOND FLOOR CITY: PEARL RIVER STATE: NY ZIP: 10965 FORMER COMPANY: FORMER CONFORMED NAME: PROVIDENT NEW YORK BANCORP DATE OF NAME CHANGE: 20050728 FORMER COMPANY: FORMER CONFORMED NAME: PROVIDENT BANCORP INC/NY/ DATE OF NAME CHANGE: 19980910 8-K 1 tm2135747d1_8k.htm FORM 8-K
0001070154 false 0001070154 2021-12-13 2021-12-13 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): December 13, 2021

 

 

 

Sterling Bancorp

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-35385   80-0091851

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

     
Two Blue Hill Plaza, Second Floor, Pearl River, New York   10965
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (845) 369-8040

 

Not Applicable

(Former name or former address, if changed since last report.)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

  

 

 

 

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(e)Amendment to Amended and Restated Employment Agreements for Jack L. Kopnisky, Luis Massiani, Rodney Whitwell, Michael E. Finn, James P. Blose, Thomas X. Geisel and Javier L. Evans

 

On December 15, 2021, Sterling Bancorp, a Delaware corporation (the “Company”), and the Company’s wholly-owned subsidiary, Sterling National Bank, a national banking association (the “Bank” and, together with the Company, “Sterling”) and each of Jack L. Kopnisky, the Company's President and Sterling's Chief Executive Officer, Luis Massiani, Sterling’s Senior Executive Vice President and Chief Operating Officer and the Bank's President, Rodney Whitwell, Sterling’s Senior Executive Vice President and Chief Administrative Officer, Michael E. Finn, Sterling’s Senior Executive Vice President and Chief Risk Officer, James P. Blose, Sterling’s Executive Vice President and Chief Legal Officer, Thomas X. Geisel, Senior Executive Vice President, Corporate Banking President, and Javier L. Evans, Executive Vice President, Chief Business Operations Officer (each an “Executive” and collectively, the “Executives”), executed an amendment to their respective Amended and Restated Employment Agreement, (collectively, the “Employment Agreements”) to extend the duration of the term of each Employment Agreement, currently expiring on December 31, 2021, to provide for a term ending on December 31, 2022 (unless in the event of a “change in control” (as defined in such Employment Agreements), in such case the Employment Agreements will be terminated upon the second anniversary of the date of the change in control, if later (the “Amendments”).

 

As disclosed in a prior Form 8-K, on April 19, 2021, Sterling announced that it entered into an Agreement and Plan of Merger (the “Merger Agreement”), dated as of April 18, 2021, between Sterling and Webster Financial Corporation (“Webster”). The transactions contemplated by the Merger Agreement have not yet closed. Sterling and Webster agreed that it is in the best interests of both companies and their subsidiaries that the expiring Employment Agreements for Sterling’s executive officers be extended as proposed in the Amendments to ensure continuity of operations through the closing of the transactions contemplated by the Merger Agreement. Accordingly, Webster agreed to waive forbearance restrictions under the Merger Agreement otherwise prohibiting Sterling from amending employment agreements for its employees, including its executive officers.

 

The Amendments to the Employment Agreements are attached hereto as Exhibits 10.1, 10.2, 10.3, 10.4, 10.5, 10.6 and 10.7 and are incorporated by reference herein.

 

Amendment of Performance Period of the 2019-2021 Performance Awards

 

As part of the Company’s long-term incentive plan, the Company previously granted performance awards with a performance period of January 1, 2019 through December 31, 2021 that utilize the KBW Regional Bank Index to determine the achievement of certain performance metrics (the “2019-2021 Performance Awards”). On December 13, 2021, with Webster’s waiver of the forbearance restrictions under the Merger Agreement, the Compensation Committee of the Board of Directors approved amending the 2019-2021 Performance Awards to have a performance period ending on September 30, 2021 and certifying performance on the shortened performance period that is otherwise in the ordinary course and consistent with past practice.

 

 

 

 

Item 9.01. Financial Statements and Exhibits.

 

(d)Exhibits

 

Exhibit 10.1 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and Jack L. Kopnisky, dated December 15, 2021.
   
Exhibit 10.2 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and Luis Massiani, dated December 15, 2021.
   
Exhibit 10.3 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and Rodney Whitwell, dated December 15, 2021.
   
Exhibit 10.4 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and Michael E. Finn, dated December 15, 2021.
   
Exhibit 10.5 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and James P. Blose, dated December 15, 2021.
   
Exhibit 10.6 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and Thomas X. Geisel, dated December 15, 2021.
   
Exhibit 10.7 Amendment No. 1 to Amended and Restated Employment Agreement by and among Sterling Bancorp, Sterling National Bank, and Javier L. Evans, dated December 15, 2021.
   
Exhibit 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  STERLING BANCORP
   
Date: December 17, 2021  
  By:  /s/ Jack Kopnisky
    Jack Kopnisky
    President and Chief Executive Officer

 

 

EX-10.1 2 tm2135747d1_ex10-1.htm EXHIBIT 10.1

 

Exhibit 10.1

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and Jack L. Kopnisky ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

  

  STERLING BANCORP
   
  By:  /s/ Richard O’Toole
  Name: Richard O’Toole
  Title: Chairman of the Board of Directors

 

  STERLING NATIONAL BANK
   
  By:  /s/ Richard O’Toole
  Name: Richard O’Toole
  Title: Chairman of the Board of Directors

 

  EXECUTIVE
   
  /s/ Jack L. Kopnisky
  Jack L. Kopnisky

 

 

 

EX-10.2 3 tm2135747d1_ex10-2.htm EXHIBIT 10.2

 

Exhibit 10.2

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and Luis Massiani ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

 

  STERLING BANCORP
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: President and Chief Executive Officer

 

  STERLING NATIONAL BANK
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title:  Chief Executive Officer

 

  EXECUTIVE
   
  /s/ Luis Massiani
  Luis Massiani

 

 

EX-10.3 4 tm2135747d1_ex10-3.htm EXHIBIT 10.3

 

Exhibit 10.3

 

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and Rodney Whitwell ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

 

  STERLING BANCORP
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: President and Chief Executive Officer

 

  STERLING NATIONAL BANK
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title:  Chief Executive Officer

 

  EXECUTIVE
   
  /s/ Rodney Whitwell
  Rodney Whitwell

 

 

EX-10.4 5 tm2135747d1_ex10-4.htm EXHIBIT 10.4

 

Exhibit 10.4

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and Michael Finn ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

 

  STERLING BANCORP
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: President and Chief Executive Officer

 

  STERLING NATIONAL BANK
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title:  Chief Executive Officer

 

  EXECUTIVE
   
  /s/ Michael Finn
  Michael Finn

 

 

 

 

EX-10.5 6 tm2135747d1_ex10-5.htm EXHIBIT 10.5

 

Exhibit 10.5

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and James Blose ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

 

  STERLING BANCORP
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: President and Chief Executive Officer

 

  STERLING NATIONAL BANK
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title:  Chief Executive Officer

 

  EXECUTIVE
   
  /s/ James Blose
  James Blose

 

 

EX-10.6 7 tm2135747d1_ex10-6.htm EXHIBIT 10.6

 

Exhibit 10.6

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and Thomas Geisel ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

 

  STERLING BANCORP
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: President and Chief Executive Officer

 

  STERLING NATIONAL BANK
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title:  Chief Executive Officer

 

  EXECUTIVE
   
  /s/ Thomas Geisel
  Thomas Geisel

 

 

 

EX-10.7 8 tm2135747d1_ex10-7.htm EXHIBIT 10.7

 

Exhibit 10.7

 

Amendment No. 1 to

Amended and Restated
Employment Agreement

 

This Amendment No. 1 (the "Amendment"), to the Amended and Restated Employment Agreement dated April 3, 2019, by and among Sterling Bancorp, a Delaware corporation (the "Company"), Sterling National Bank, a national banking association organized and existing under the laws of the United States of America (the "Bank" and, together with the Company, "Sterling"), and Javier Evans ("Executive") (the "Agreement") is made and entered into as of December 15, 2021, to be effective on January 1, 2022 (the "Effective Date").

 

WHEREAS, the Company, the Bank and Executive desire to amend the Agreement to extend the term of the Executive's employment with the Company and the Bank on the Effective Date for a period of one year.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows:

 

1.        Section 2(a) of the Agreement is hereby amended as follows:

 

2.       Employment Period.

 

(a)       Duration. Executive's period of employment with Sterling under this Agreement shall begin on the Effective Date and shall continue until December 31, 2022 (or, if a Change in Control (as defined below) occurs prior to such anniversary, the second anniversary of the date of the Change in Control, if later), unless terminated prior thereto by either Sterling or Executive in accordance with Section 6 hereof (such period of employment being the "Employment Period").

 

2.       Except as expressly stated herein, this Amendment does not amend or otherwise modify any of the terms or conditions of the Agreement, which shall remain in full force and effect pursuant to its terms. Any terms not defined herein shall have the meaning set forth in the Agreement. To the extent applicable, each Party hereby represents and warrants that its respective signatory has been and is on the date of this Amendment duly authorized by all necessary corporate action to execute this Amendment.

 

3.       This Amendment may be executed in a number of identical counterparts, which, taken together, shall constitute collectively one and the same agreement.

 

[Signature Page Follows]

 

 

 

 

IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be executed and Executive has hereunto set his hand, all as of the Effective Date specified above.

 

  STERLING BANCORP
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: President and Chief Executive Officer

 

  STERLING NATIONAL BANK
   
  By:  /s/ Jack L. Kopnisky
  Name: Jack L. Kopnisky
  Title: Chief Executive Officer

 

  EXECUTIVE
   
  /s/ Javier Evans
  Javier Evans

 

 

 

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Entity Address, City or Town Pearl River
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10965
City Area Code 845
Local Phone Number 369-8040
Written Communications false
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Pre-commencement Issuer Tender Offer false
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