May 14, 2012Separation Agreement • June 8th, 2012 • Beneficial Mutual Bancorp Inc • Savings institution, federally chartered • Pennsylvania
This is to memorialize the understanding we have reached regarding your separation from employment, which will be effective June 15, 2012 regardless of whether you sign this Agreement. By way of background, you entered into an employment agreement with Beneficial Mutual Bancorp, Inc. (the “Company”) and Beneficial Mutual Savings Bank (the “Bank”) which was amended and restated in its entirety effective March 17, 2009 and again amended May 20, 2010 (the “Employment Agreement”). Due to multiple reasons, you have decided to resign your employment and positions with the Company and the Bank.
