leadership
confidence high
sentiment neutral
materiality 0.50
Customers Bancorp amends CFO McCollom's employment agreement, adds 12-month non-compete
Customers Bancorp, Inc.
- Term automatically extends by one year each anniversary unless 60-day cancellation notice given.
- McCollom's notice period for resignation shortened from 60 to 45 days.
- Severance conditioned on execution of a release of claims in form approved by Company.
- Health, dental, and life insurance benefits continue during severance payment period.
- New 12-month non-compete prohibits roles with similar duties in Company's Field of Interest and Restricted Area.