Re: Amendment to the Investment AgreementInvestment Agreement • November 23rd, 2005 • Independence Community Bank Corp • Savings institutions, not federally chartered
Reference is made to (i) the Agreement and Plan of Merger, dated as of October 24, 2005 (the “Merger Agreement”), among Sovereign Bancorp, Inc., a Pennsylvania corporation (“Sovereign”), Iceland Acquisition Corp., a Delaware corporation and wholly owned subsidiary of Sovereign, and Independence Community Bank Corp. ( “ICBC”) and (ii) the Investment Agreement, dated as of October 24, 2005 (the “Investment Agreement”), between Banco Santander Central Hispano, S.A., a Spanish sociedad anónima, and Sovereign. Capitalized terms used in this letter agreement and not otherwise defined herein shall have the meanings given such terms in the Investment Agreement.
