Provident Financial amends CEO Labozzetta's employment agreement with $1M base salary, enhanced severance

PROVIDENT FINANCIAL SERVICES INC

New base salary of $1,000,000 per year; term through June 26, 2028 with auto-renewals.
Non-change-of-control termination severance: 2x (base + target bonus) paid over 24 months; plus COBRA reimbursement.
Change-in-control termination severance: 3x (base + target bonus) plus cash for COBRA and life/disability for 36 months.
Non-compete period increased to one year from termination.
Agreement replaces prior March 2020 agreement; substantially similar except for above changes.

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