Document:

EX-10.2

Exhibit 10.2

FORM OF TREASURY DEPARTMENT WAIVER

STERLING BANCORP

UST Sequence No. 299

I, [Insert Name], an executive of Sterling Bancorp, hereby agree as follows:

In consideration for the benefits I will receive as a result of my employer’s participation
in the United States Department of the Treasury’s TARP Capital Purchase Program, I hereby
voluntarily waive any claim against the United States or my employer for any changes to my
compensation or benefits that are required to comply with the regulation issued by the
Department of the Treasury as published in the Federal Register on October 20, 2008.

I acknowledge that this regulation may require modification of the compensation, bonus,
incentive and other benefit plans, arrangements, policies and agreements (including
so-called “golden parachute” agreements) that I have with my employer or in which I
participate as they relate to the period the United States holds any equity or debt
securities of my employer acquired through the TARP Capital Purchase Program.

This waiver includes all claims I may have under the laws of the United States or any state
related to the requirements imposed by the aforementioned regulation, including without
limitation a claim for any compensation or other payments I would otherwise receive, any
challenge to the process by which this regulation was adopted and any tort or constitutional
claim about the effect of these regulations on my employment relationship.

Agreed and acknowledged as of December __, 2008

 

[Insert Name]EX-10.3

Exhibit 10.3

FORM OF LETTER AGREEMENT

December 23, 2008

Re: Sterling Bancorp: UST Sequence No. 299

[Insert Name]

c/o Sterling Bancorp

650 Fifth Avenue

New York, New York 10019

Dear [Insert Name]

     Sterling Bancorp (the “Company”) has entered into a Securities Purchase Agreement, dated
December 23, 2008 (the “Securities Purchase Agreement”), with the United States Department of
Treasury (“Treasury”) as part of the Company’s participation in the Treasury’s TARP Capital
Purchase Program (the “CPP”).

     For the Company to participate in the CPP and as a condition to the closing of the investment
contemplated by the Securities Purchase Agreement, the Company is required to establish specified
standards for incentive compensation to its “senior executive officers” (as defined below) and to
make changes to certain of its compensation arrangements. To comply with these requirements, and
in consideration of the benefits that you will receive as a result of the Company’s participation
in the CPP, you agree as follows:

	 	(1)	 	No Golden Parachute Payments. The Company is prohibiting any “golden parachute
payment” (as defined below) to you during any “CPP Covered Period”. A “CPP Covered
Period” is any period during which (A) you are a senior executive officer and (B)
Treasury holds an equity or debt position acquired from the Company in the CPP.
	 
	 	(2)	 	Recovery of Bonus and Incentive Compensation. Any bonus or incentive
compensation payments to you during a CPP Covered Period is subject to recovery or
“clawback” by the Company if the payments were based on materially inaccurate financial
statements or any other materially inaccurate performance metric criteria.

 

 

	 	(3)	 	Compensation Program Amendments. Each of the Company’s compensation, bonus,
incentive and other benefit plans, programs, arrangements and agreements (including,
without limitation, the Key Executive Incentive Bonus Plan, the Stock Incentive Plan
and each award agreement thereunder and any employment or change in control severance
agreement) (collectively, “Benefit Plans”) applicable to you is hereby amended if and
to the extent necessary to give effect to provisions (1) and (2) and as required under
the Securities Purchase Agreement.

     In addition, the CPP requires the Compensation Committee of the Company’s Board of Directors
to review annually with the Company’s senior risk officers the features of the Benefit Plans to
ensure that they do not encourage senior executive officers to take unnecessary and excessive risks
that threaten the value of the Company. If and to the extent that, as a result of any such review,
the Compensation Committee determines any revision to any Benefit Plan is appropriate, you hereby
agree to any such revisions and you agree to execute such additional documents as the Company deems
necessary to effect such revisions.

	 	(4)	 	Definitions and Interpretation. This letter shall be interpreted as follows:

	 	•	 	“Senior executive officer” means the Company’s “senior executive officers” as
defined in subsection 111(b)(3) of EESA and the regulations governing the CPP.
	 
	 	•	 	“Golden parachute payment” has the same meaning as in subsection 111(b)(2)(C)
of EESA.
	 
	 	•	 	“EESA” means the Emergency Economic Stabilization Act of 2008 as implemented by
guidance or regulation that has been issued and is in effect as of the “Closing
Date” as defined in the Securities Purchase Agreement.
	 
	 	•	 	The term “Company” includes any entities treated as a single employer with the
Company under 31 C.F.R. § 30.1(b) (as in effect on the Closing Date). (We note
that you are also delivering a waiver pursuant to the Securities Purchase
Agreement, and, as between the Company and you, the term “employer” in that waiver
will be deemed to mean the Company as used in this letter.
	 
	 	•	 	The term “CPP Covered Period” shall be limited by, and interpreted in a manner
consistent with, 31 C.F.R. § 30.11 (as in effect on the Closing Date).
	 
	 	•	 	Provisions (1) and (2) of this letter are intended to, and will be interpreted,
administered and construed to, comply with Section 111 of EESA and the regulations
thereunder and the regulations governing the CPP (as in effect on the Closing
Date) and, to the maximum extent consistent with the preceding, to permit
operation

 

 

	 	 	 	of the Benefit Plans in accordance with their terms before giving effect to this
letter.

	 	•	 	This letter will be governed by, and construed in accordance with, the laws of
the State of New York applicable to agreements made and to be performed in New
York. Any dispute arising under this letter shall be resolved by the Federal or
state courts located in New York City, New York.

	 	 	 	 	 
	 	Very truly yours,

STERLING BANCORP

 	 
	 	By:  	 	 
	 	 	Name:  	Dale C. Fredston	 
	 	 	Title:  	S.V.P. & Corporate Secretary	 
	 

Intending to be legally bound, I agree

with and accept the foregoing terms.

	 	 	 
	 

[Insert Name]exv10w1

Exhibit 10.1

LEASE TERMINATION AGREEMENT

     THIS LEASE TERMINATION AGREEMENT (this “Agreement”) is made as of December 23, 2008 by
and between HAYDEN FERRY LAKESIDE, LLC, an Arizona limited liability company (“Lessor”) and
RENEGY HOLDINGS, INC., a Delaware corporation (“Lessee”). All capitalized terms not
otherwise defined herein shall have the respective meanings set forth in the Lease (as defined
below).

RECITALS

     WHEREAS, Lessor and Lessee are parties to that certain Office Lease dated January 17, 2008, as
subsequently amended (the “Lease”), whereby Lessor leases to Lessee, and Lessee leases from
Lessor, certain Premises including approximately 7,824 rentable square feet of space formerly
designated as Suite 1101 of that certain office building more commonly known as Hayden Ferry
Lakeside – Phase II, 60 East Rio Salado Parkway, Tempe, Arizona 85281, as more particularly
described in the Lease;

     WHEREAS, Lessor and Lessee desire to terminate the Lease and the leasing relationship set
forth therein upon the terms and conditions set forth herein; and

     WHERAS, pursuant to the Lease, Lessee delivered a Security Deposit upon execution thereof in
the amount of $144,744.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee
hereby agree as follows:

     1. Termination of Lease. Lessor and Lessee each hereby agree that the Lease shall be
terminated effective as of December 31, 2008 (the “Lease Termination Date”), and neither
party shall have any liabilities, rights, duties or obligations as to the other party (or its
successors and assigns) under or in connection with the Lease from and after the Lease Termination
Date except as otherwise provided by this Agreement.

     2. Surrender. On the Lease Termination Date, Lessee will vacate and surrender
possession of the Premises to Lessor in the condition required of Lessee under the Lease and
deliver all keys to the Premises to Lessor; provided, however, that Lessee shall be granted access
to the Premises, consistent with Lessee’s current access rights under the Lease, between January 1,
2009 and January 16, 2009 primarily for the purpose of removing from the Premises property that is
not part of the property set forth on Exhibit A hereto. Lessor and Lessee shall conduct a
“move-out inspection” of the Premises prior to the Lease Termination Date.

     3. Lease Termination Payment. In consideration for Lessor agreeing to terminate the
Lease prior to the expiration of the term of the Lease as provided for therein:

 

	 	(a)	 	Lessor shall be entitled to retain the Security Deposit;
	 
	 	(b)	 	Lessee shall pay to Lessor the sum of $56,724, provided, however,
that if Lessor is able to re-let the Premesis on or before September
30th 2009, Lessor shall, within thirty (30) days of re-letting the
Premises, pay to Lessee an amount equal to the base rent, if any, paid to Lessor
under a new lease in each of July, August and September 2009 (each, the “Monthly
Refund Amount”) not to exceed the amount that would have otherwise been owed by
Lesee to Lessor under the Lease during the same period that rent is collected
under a new lease.
	 
	 	(c)	 	Lessee shall transfer and convey to Lessor full right and title,
free and clear of all liens, the property described on Exhibit A hereto.

     4. Performance Through Lease Termination Date: Each of Lessee and Lessor expressly
understands and agrees that it shall be obligated to fully comply with all terms and conditions of
and to perform all of its respective obligations under the Lease through and until the Lease
Termination Date.

     5. Termination of Specified Lease Obligations: Following the Lease Termination Date,
neither Lessor nor Lessee nor any of their respective successors or assigns shall have any further
rights or obligations thereunder except as provided in this Agreement.

     6. Lessor’s Efforts to Relet Premises. Commencing as of the date hereof, Lessor shall
use its best efforts to relet the Premises, as contemplated by Section 3 above, as soon as
practicable following the Lease Termination Date.

     7. Miscellaneous: This Agreement can be amended only by an amendment in writing
signed by all the parties, and any term herein can be waived only by a written waiver signed by the
party against whom such waiver is to be asserted. This Agreement is intended to be the final
expression of the parties’ agreement and supersedes any and all prior restrictions, promises,
representations, warranties, agreements, understandings and undertakings between the parties with
respect to the within subject matter. There are no restrictions, promises, representations,
warranties, agreements, understandings or undertakings with respect to such subject matter other
than those set forth or referred to herein. This Agreement shall be governed by and construed in
accordance with the laws of the State of Arizona, without regard to its conflicts of laws
principles. This Agreement may be executed in any number of counterparts, all of which together
shall be deemed to constitute one instrument, and each of which shall be deemed and original. Time
is of the essence in this Agreement.

[Signature Page Follows]

2

 

     IN WITNESS WHEREOF, the parties hereto have executed or caused their duly authorized
representatives to execute, this Agreement as of the date and year first above written.

	 	 	 
	LESSOR:

	 	LESSEE:
	 
	 	 
	Hayden Ferry Lakeside, LLC:

	 	Renegy Holdings, Inc.:
	 
	 	 
	By: /s/ Yukinari Shiraishi

	 	By: /s/ Hugh Smith
	 
	 	 
	Title: Vice President

	 	Title: President and COO

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