As you are aware, Bryn Mawr Bank Corporation (“BMBC”), is entering into a merger agreement with WSFS Financial Corporation (the “Merger Agreement”), pursuant to which WSFS Financial Corporation will acquire BMBC and its wholly owned subsidiary, Bryn...Merger Agreement • January 3rd, 2022 • WSFS Financial Corp • National commercial banks • Pennsylvania
In anticipation of the Transaction, you and WSFS have agreed that effective as of the Closing Date, and subject to our customary interview and onboarding process, you shall be designated to serve as a member of the boards of directors of WSFS Financial Corporation and Wilmington Savings Fund Society, FSB (collectively the “WSFS Boards”) and that the relationship between you and WSFS shall be governed by the terms and conditions of this letter agreement (this “Letter”). Importantly, your designation to serve as a member of the WSFS Boards, and the terms and conditions of this Letter, are contingent on the closing of the Transaction and, unless you are terminated without Cause (as defined in your BMBC Executive Change-of-Control Severance Agreement, dated as of November 2, 2009 (the “BMBC CIC Agreement”)), your continued employment with BMBC through the Closing Date. Unless effective earlier, your termination from employment will be effective as of the closing.
