EX-10.1
from 8-K
8 pages
In Anticipation of the Transaction, You and WSFS Have Agreed That Effective as of the Closing Date, and Subject to Our Customary Interview and Onboarding Process, You Shall Be Designated to Serve as a Member of the Boards of Directors of WSFS Financial Corporation and Wilmington Savings Fund Society, Fsb (Collectively the “WSFS Boards”) and That the Relationship Between You and WSFS Shall Be Governed by the Terms and Conditions of This Letter Agreement (This “Letter”). Importantly, Your Designation to Serve as a Member of the WSFS Boards, and the Terms and Conditions of This Letter, Are Contingent on the Closing of the Transaction And, Unless You Are Terminated Without Cause (As Defined in Your Bmbc Executive Change-Of-Control Severance Agreement, Dated as of November 2, 2009 (The “Bmbc Cic Agreement”)), Your Continued Employment With Bmbc Through the Closing Date. Unless Effective Earlier, Your Termination From Employment Will Be Effective as of the Closing. 1. Term; Positions; Location. A. Agreement Term. Except as Otherwise Set Forth Below, the Terms and Conditions Contained in This Letter Shall Be Effective During the Agreement Term. “Agreement Term” Shall Be the Period Beginning on the Closing Date and Ending on the Thirty-Six Month Anniversary of the Closing Date
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EX-10.3
from 10-Q
13 pages
Third Amendment to the Beneficial Bank Stock-Based Deferral Plan (Successor Amendment) This Amendment Is Adopted by the Board of Trustees (The "Board") of Beneficial Bank (The "Bank") on February 14, 2019. Whereas, the Bank Maintains the Beneficial Bank Stock-Based Deferral Plan (The "Plan") to Enable the Bank's Trustees and Selected Executives to Defer Compensation Earned for Their Services at the Bank; and Whereas, the Bank Desires to Amend the Plan to Clarify Rights of Any Successor to the Bank; and Whereas, Section 12 of the Plan Provides That the Plan May Be Amended or Modified From Time to Time by the Board. Now, Therefore, the Board Hereby Amends the Plan as Follows: First Change the Definition of Committee in Section 2 of the Plan Is Amended to Provide as Follows: Committee Means the Retirement Plan Committee of the Bank or the Compensation Committee of Any Successor to the Bank by Merger, Purchase of Stock or Assets, or Otherwise. Second Change Section 12 of the Plan Is Amended to Provide as Follows: 12. Amendment of the Plan. the Board (And the Board of Any Successor to the Bank by Merger, Purchase of Stock or Assets, or Otherwise) May Suspend or Terminate the Plan or Revise or Amend the Plan in Any Respect; Provided, Any Amendment or Termination of the Plan Shall Not Adversely Affect a Participant With Respect to Any Benefit Previously Deferred Under the Plan. in Witness Whereof, the Bank Has Caused This Amendment to Be Executed by Its Duly Authorized Officer on the 21 Day of February, 2019. Beneficial Bank /S/ Thomas Cestare for the Board of Trustees Us2008 15153492 2
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EX-10
from 10-K
4 pages
Executive Vice President (“Evp”) Is Released Without Cause (As Defined in Attachment A), a Minimum of Six Months Severance and Professional Level Outplacement Will Be Offered. if the Associate Has Not Found New Full Time Employment on or Before Six Months After Termination, Severance Pay and Outplacement Would Continue for Another Six Months or Until the Associate Found Employment, Whichever Occurred First. in the Event the Associate Found a Job, but at a Lower Rate of Pay Than Previously Received at WSFS, Then WSFS Would Make Up the Difference Until the Second Six-Month Period Has Ended. Medical and Dental Benefits Will Be Offered at the Associate Rate Through the Severance Period
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