Company: MCHB
Filing Date: 2025-04-03
Form Type: 8-K
Source: 0001518715-25-000056
Chunk: 1

Company: Mechanics Bancorp
Filing Date: 2025-04-03
Form: 8-K
Item: Item 5.02
Chunk 1
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers  

Consulting Agreement

In connection with the Merger Agreement, HomeStreet and Mechanics Bank entered into a consulting agreement (the “Consulting Agreement”) with Mark Mason, the Chairman, Chief Executive Officer and President of HomeStreet, pursuant to which Mr. Mason’s employment with HomeStreet and HomeStreet Bank will terminate on the first day following the closing of the Merger, and HomeStreet and Mechanics Bank will retain Mr. Mason as a consultant to perform certain transitional services beginning on the day following the closing of the Merger and ending on the earliest of (a) the second anniversary of the closing of the Merger, (b) the death or disability of Mr. Mason and (c) the termination of the Consulting Agreement pursuant to its terms (the “Consulting Period”). The Consulting Agreement is attached to this Current Report on Form 8-K as Exhibit 10.3 and is incorporated by reference herein.