0001362310-08-005481 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • September 30th, 2008 • Sovereign Bancorp Inc • Savings institution, federally chartered • Massachusetts

EMPLOYMENT AGREEMENT (this “Agreement”), dated September 30, 2008, between Sovereign Bancorp, Inc., a Pennsylvania Corporation (the “Company” or “SBI”), and Paul A. Perrault (the “Executive”).

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SEPARATION AND CONSULTING AGREEMENT
Separation and Consulting Agreement • September 30th, 2008 • Sovereign Bancorp Inc • Savings institution, federally chartered • Pennsylvania

This SEPARATION AND CONSULTING AGREEMENT (the “Agreement”) is entered into on September 30, 2008, by and between Sovereign Bancorp, Inc., a Pennsylvania corporation (the “Company”), and Joseph P. Campanelli (the “Executive”).

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • September 30th, 2008 • Sovereign Bancorp Inc • Savings institution, federally chartered

This AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is made and entered into as of the 30th day of September 2008, by and between SOVEREIGN BANCORP, INC., a Pennsylvania corporation (“SBI”), and KIRK W. WALTERS, an individual (the “Executive”).

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