Flagstar enters employment agreement with President Raffetto: $700k base, $700k target bonus

FLAGSTAR BANK, NATIONAL ASSOCIATION

Annual base salary of $700,000 and target annual cash bonus of $700,000.
Eligible for long-term equity awards starting in fourth year of employment.
Company will pay Raffetto's relocation costs to the NYC metropolitan area.
Upon termination without cause or for good reason, gets 3 years' base salary plus target bonus lump sum.
Post-employment covenants: 12-month non-solicitation, 6-month non-compete, perpetual confidentiality.

item 5.02

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