1
Exhibit 10.7
AMENDMENT 1 TO SUPPLEMENTAL RETIREMENT AGREEMENT
This Amendment 1 to Supplemental Retirement Agreement dated as of this 3rd day
of May, 1996, by and between Charter One Financial, Inc., its successors and
assigns (the "Company") and Xxxxxx X. Xxxx (the "Executive") for the purpose
of modifying and amending that certain Supplemental Retirement Agreement between
the parties as of October 31, 1995 (the "SRA").
WITNESSETH
In consideration of the Company entering into a Split-Dollar Agreement (the
"Death Benefit Agreement") with the Executive on even date herewith, the parties
have agreed to modify and amend the SRA in the following manner:
1. Notwithstanding anything contained in Section 1(d)(v) of the SRA or
otherwise in the SRA, in the event of the death of the Executive while
employed by the Company or any of its affiliates under circumstances in
which a beneficiary of the Executive or his/her estate is entitled to
death proceeds (a) in accordance with the Death Benefit Agreement
(including any amendments or modifications hereinafter made thereto
with the written consent of the Executive) or (b) under any other
written agreement between the Company and the Executive that replaces
the Death Benefit Agreement, then in that event, neither the Executive
nor his/her spouse will be entitled to any benefits under the SRA.
2. Except as modified and amended herein, the SRA shall remain in full
force and effect.
The parties have caused this Amendment to be executed and delivered as of the
date first above herein written.
CHARTER ONE FINANCIAL, INC.
By: /s/ Xxxxxxx X. Xxx
-------------------------------
Authorized Officer: Xxxxxxx X. Xxx
EXECUTIVE
/s/ Xxxxxx X. Xxxx
--------------------------------
Xxxxxx X. Xxxx
2
AMENDMENT 1 TO SUPPLEMENTAL RETIREMENT AGREEMENT
This Amendment 1 to Supplemental Retirement Agreement dated as of this 3rd day
of May, 1996, by and between Charter One Financial, Inc., its successors and
assigns (the "Company") and Xxxxxxx Xxxx Xxxx (the "Executive") for the purpose
of modifying and amending that certain Supplemental Retirement Agreement between
the parties as of October 31, 1995 (the "SRA").
WITNESSETH
In consideration of the Company entering into a Split-Dollar Agreement (the
"Death Benefit Agreement") with the Executive on even date herewith, the parties
have agreed to modify and amend the SRA in the following manner:
1. Notwithstanding anything contained in Section 1(d)(v) of the SRA or
otherwise in the SRA, in the event of the death of the Executive while
employed by the Company or any of its affiliates under circumstances in
which a beneficiary of the Executive or his/her estate is entitled to
death proceeds (a) in accordance with the Death Benefit Agreement
(including any amendments or modifications hereinafter made thereto
with the written consent of the Executive) or (b) under any other
written agreement between the Company and the Executive that replaces
the Death Benefit Agreement, then in that event, neither the Executive
nor his/her spouse will be entitled to any benefits under the SRA.
2. Except as modified and amended herein, the SRA shall remain in full
force and effect.
The parties have caused this Amendment to be executed and delivered as of the
date first above herein written.
CHARTER ONE FINANCIAL, INC.
By: /s/ Xxxxxx X. Xxxx
-----------------------------------
Authorized Officer: Xxxxxx X. Xxxx
EXECUTIVE
/s/ Xxxxxxx Xxxx Xxxx
-----------------------------------
Xxxxxxx Xxxx Xxxx
3
AMENDMENT 1 TO SUPPLEMENTAL RETIREMENT AGREEMENT
This Amendment 1 to Supplemental Retirement Agreement dated as of this 3rd day
of May, 1996, by and between Charter One Financial, Inc., its successors and
assigns (the "Company") and Xxxx X. Xxxxxx (the "Executive") for the purpose of
modifying and amending that certain Supplemental Retirement Agreement between
the parties as of October 31, 1995 (the "SRA").
WITNESSETH
In consideration of the Company entering into a Split-Dollar Agreement (the
"Death Benefit Agreement") with the Executive on even date herewith, the parties
have agreed to modify and amend the SRA in the following manner:
1. Notwithstanding anything contained in Section 1(d)(v) of the SRA or
otherwise in the SRA, in the event of the death of the Executive while
employed by the Company or any of its affiliates under circumstances in
which a beneficiary of the Executive or his/her estate is entitled to
death proceeds (a) in accordance with the Death Benefit Agreement
(including any amendments or modifications hereinafter made thereto
with the written consent of the Executive) or (b) under any other
written agreement between the Company and the Executive that replaces
the Death Benefit Agreement, then in that event, neither the Executive
nor his/her spouse will be entitled to any benefits under the SRA.
2. Except as modified and amended herein, the SRA shall remain in full
force and effect.
The parties have caused this Amendment to be executed and delivered as of the
date first above herein written.
CHARTER ONE FINANCIAL, INC.
By: /s/ Xxxxxx X. Xxxx
-----------------------------------
Authorized Officer: Xxxxxx X. Xxxx
EXECUTIVE
/s/ Xxxx X. Xxxxxx
-----------------------------------
Xxxx X. Xxxxxx
4
AMENDMENT 1 TO SUPPLEMENTAL RETIREMENT AGREEMENT
This Amendment 1 to Supplemental Retirement Agreement dated as of this 3rd day
of May, 1996, by and between Charter One Financial, Inc., its successors and
assigns (the "Company") and Xxxx X. Xxxx (the "Executive") for the purpose of
modifying and amending that certain Supplemental Retirement Agreement between
the parties as of October 31, 1995 (the "SRA").
WITNESSETH
In consideration of the Company entering into a Split-Dollar Agreement (the
"Death Benefit Agreement") with the Executive on even date herewith, the parties
have agreed to modify and amend the SRA in the following manner:
1. Notwithstanding anything contained in Section 1(d)(v) of the SRA or
otherwise in the SRA, in the event of the death of the Executive while
employed by the Company or any of its affiliates under circumstances in
which a beneficiary of the Executive or his/her estate is entitled to
death proceeds (a) in accordance with the Death Benefit Agreement
(including any amendments or modifications hereinafter made thereto
with the written consent of the Executive) or (b) under any other
written agreement between the Company and the Executive that replaces
the Death Benefit Agreement, then in that event, neither the Executive
nor his/her spouse will be entitled to any benefits under the SRA.
2. Except as modified and amended herein, the SRA shall remain in full
force and effect.
The parties have caused this Amendment to be executed and delivered as of the
date first above herein written.
CHARTER ONE FINANCIAL, INC.
By: /s/ Xxxxxx X. Xxxx
-----------------------------------
Authorized Officer: Xxxxxx X. Xxxx
EXECUTIVE
/s/ Xxxx X. Xxxx
-----------------------------------
Xxxx X. Xxxx
5
AMENDMENT 1 TO SUPPLEMENTAL RETIREMENT AGREEMENT
This Amendment 1 to Supplemental Retirement Agreement dated as of this 3rd day
of May, 1996, by and between Charter One Financial, Inc., its successors and
assigns (the "Company") and Xxxxxxx X. Xxx (the "Executive") for the purpose of
modifying and amending that certain Supplemental Retirement Agreement between
the parties as of October 31, 1995 (the "SRA").
WITNESSETH
In consideration of the Company entering into a Split-Dollar Agreement (the
"Death Benefit Agreement") with the Executive on even date herewith, the parties
have agreed to modify and amend the SRA in the following manner:
1. Notwithstanding anything contained in Section 1(d)(v) of the SRA or
otherwise in the SRA, in the event of the death of the Executive while
employed by the Company or any of its affiliates under circumstances in
which a beneficiary of the Executive or his/her estate is entitled to
death proceeds (a) in accordance with the Death Benefit Agreement
(including any amendments or modifications hereinafter made thereto
with the written consent of the Executive) or (b) under any other
written agreement between the Company and the Executive that replaces
the Death Benefit Agreement, then in that event, neither the Executive
nor his/her spouse will be entitled to any benefits under the SRA.
2. Except as modified and amended herein, the SRA shall remain in full
force and effect.
The parties have caused this Amendment to be executed and delivered as of the
date first above herein written.
CHARTER ONE FINANCIAL, INC.
By: /s/ Xxxxxx X. Xxxx
-----------------------------------
Authorized Officer: Xxxxxx X. Xxxx
EXECUTIVE
/s/ Xxxxxxx X. Xxx
-----------------------------------
Xxxxxxx X. Xxx
