other material
confidence high
sentiment neutral
materiality 0.35
Customers Bancorp enters into Supplemental Executive Retirement Plan for Lyle Cunningham
Customers Bancorp, Inc.
- Monthly benefit of $12,500 upon retirement after Normal Retirement Age for life.
- Early termination benefit if separation before Normal Retirement Age for any reason other than death or Change in Control.
- Change in Control benefit payable monthly for life if separation within 12 months after CIC.
- Plan includes clawback, noncompete, non-disclosure, and non-solicitation provisions; forfeiture for cause.
- Plan supersedes prior SERP adopted April 27, 2022.