Accord and Satisfaction and Release Sample Contracts

RETIREMENT — RESIGNATION AND TRANSITION AGREEMENT

Accord and Satisfaction and Release • October 13th, 2006 • Sovereign Bancorp Inc • Savings institution, federally chartered • Pennsylvania

• Contract Type
  Accord and Satisfaction and Release
• Filed
  October 13th, 2006
• Company
  Sovereign Bancorp Inc
• Industry
  Savings institution, federally chartered
• Jurisdiction
  Pennsylvania

This RETIREMENT—RESIGNATION AND TRANSITION AGREEMENT (“Agreement”) is by and between Sovereign Bancorp, Inc. (“Bancorp”), a Pennsylvania corporation, and Sovereign Bank (“Bank,” and, collectively, with Bancorp, “Sovereign”), a Federal Savings Bank organized and existing under the laws of the United States, and Jay S. Sidhu (“Executive”), an individual residing in the Commonwealth of Pennsylvania. This Agreement is entered into as of October 10, 2006.