Document:

Exhibit
10.j

 

AMENDMENT TO THE

CHANGE IN CONTROL,

SEVERANCE AND EMPLOYMENT AGREEMENT

FOR D. LYNN VAN BORKULO-NUZZO

 

 

This Amendment to
the Change in Control, Severance and Employment Agreement for D. Lynn Van
Borkulo-Nuzzo (the “Amendment”), is made this 17th day of September, 2003,
between Hudson United Bancorp and Hudson United Bank (collectively, the
“Company”), a New Jersey corporation which maintains its principal office at
1000 MacArthur Boulevard, Mahwah, New Jersey, and D. Lynn Van Borkulo-Nuzzo (the
“Executive”), and amends the Change in Control, Severance and Employment
Agreement for D. Lynn Van Borkulo-Nuzzo, which was made effective as of October
1, 2002 (the “Agreement”).

 

WHEREAS, the
Executive is presently an executive officer of the Company;  and

 

WHEREAS, the
Executive and the Company wish to amend the Agreement to clarify certain
provisions therein;

 

NOW, THEREFORE,
for the good and valuable consideration set forth herein and the Executive’s
continued valuable service to the Company, the Company and the Executive, each
intending to be legally bound hereby, agree as follows:

 

1.             Paragraph 9(d) of the Agreement,
relating to “Payments and Benefits,” is amended by adding the following
language after the end of the first sentence thereof:

 

“For purposes of
the calculation of the bonus amount component of the Lump Sum only, Paragraph
1(b)(ii)(B), regarding the Time of the Change of Control, will be disregarded.”

 

2.             The Company agrees that it will not
treat (for tax reporting purposes or for calculation purposes under Section 10
of the Agreement) any benefits under the Hudson United Bancorp Supplemental
Employees’ Retirement Plan (the “SERP”) as parachute payments under Section
280G of the Internal Revenue Code, to the extent that such benefits were vested
and accrued prior to the occurrence of the change of control, as the SERP was
not adopted in contemplation of such change of control.

 

 

IN WITNESS WHEREOF, the
Company has caused this Amendment to be signed by its duly authorized
representatives pursuant to the authority of its Board of Directors’
Compensation Committee, and the Executive has personally executed this
Agreement, all as of the day and year first above written.

 

	
  ATTEST:

  	
  HUDSON UNITED BANCORP
  AND

  
	
   

  	
  HUDSON UNITED BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Charles F.X. Poggi

  	
   

  
	
   

  	
   

  	
  Charles F. X. Poggi

  	
   

  
	
   

  	
   

  	
  Chairman, Compensation Committte

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  WITNESS:

  	
  EXECUTIVE

  
	
   

  	
  /s/ D. Lynn Van Burkolo
  Nuzzo

  	
   

  
	
   

  	
  D. Lynn Van
  Borkulo-NuzzoExhibit
10.k

 

AMENDMENT
TO THE

CHANGE
IN CONTROL,

SEVERANCE
AND EMPLOYMENT AGREEMENT

FOR
JAMES MAYO

 

This Amendment to
the Change in Control, Severance and Employment Agreement for James Mayo (the
“Amendment”), is made this 17th day of September, 2003, between Hudson United
Bancorp and Hudson United Bank (collectively, the “Company”), a New Jersey
corporation which maintains its principal office at 1000 MacArthur Boulevard,
Mahwah, New Jersey, and James Mayo (the “Executive”), and amends the Change in
Control, Severance and Employment Agreement for James Mayo, which was made
effective as of January 30, 2002 (the “Agreement”).

 

WHEREAS, the
Executive is presently an executive officer of the Company;  and

 

WHEREAS, the
Executive and the Company wish to amend the Agreement to clarify certain
provisions therein, and to provide a greater period of protection for the
Executive under the terms of the Agreement;

 

NOW, THEREFORE,
for the good and valuable consideration set forth herein and the Executive’s
continued employment with the Company, the Company and the Executive, each
intending to be legally bound hereby, agree as follows:

 

1.                                       Paragraph
1(c) of the Agreement, relating to the term “Contract Period,” is amended by
deleting the words “one year” from subparagraph (i) thereof, and replacing them
with the words “three years”.

 

2.                                       Paragraph
9(c) of the Agreement, relating to “Payments and Benefits,” is amended by
deleting the first sentence thereof, and replacing it with the following:

 

“If the Company
terminates the Executive’s employment during the Contract Period without Cause
or if the Executive resigns for Good Reason under paragraph 9(b), the Company
shall, as promptly as practical but in no event later than 10 business days
after the termination of employment pay the Executive a lump sum (the “Lump
Sum”) equal to 2.0 times the sum of (i)

 

 

the annual salary
of the Executive immediately prior to the Change in Control, and (ii) the
highest bonus paid to the Executive during the three fiscal years prior to the Change
in Control.  For purposes of the
calculation of the bonus amount component of the Lump Sum only, Paragraph
1(b)(ii)(B), regarding the Time of the Change of Control, will be disregarded.”

 

3.                                       The
Company agrees that it will not treat (for tax reporting purposes or for
calculation purposes under Section 10 of the Agreement) any benefits under the
Hudson United Bancorp Supplemental Employees’ Retirement Plan (the “SERP”) as
parachute payments under Section 280G of the Internal Revenue Code, to the extent
that such benefits were vested and accrued prior to the occurrence of such
change of control, as the SERP was not adopted in contemplation of a change of
control.

 

IN WITNESS
WHEREOF, Company has caused this Amendment to be signed by its duly authorized representatives
pursuant to the authority of its Board of Directors’ Compensation Committee,
and the Executive has personally executed this Agreement, all as of the day and
year first above written.

 

	
  ATTEST:

  	
  HUDSON UNITED BANCORP
  AND

  
	
   

  	
  HUDSON UNITED BANK

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Charles F.X. Poggi

  	
   

  
	
   

  	
   

  	
  Charles F. X. Poggi

  	
   

  
	
   

  	
   

  	
  Chairman, Compensation Committee

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  WITNESS:

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/James Mayo

  	
   

  
	
   

  	
  James MayoExhibit
10.l

 

AMENDMENT TO THE

CHANGE IN CONTROL,

SEVERANCE AND EMPLOYMENT AGREEMENT

FOR THOMAS R. NELSON

 

This Amendment to
the Change in Control, Severance and Employment Agreement for Thomas R. Nelson
(the “Amendment”), is made this 17th day of September, 2003, between Hudson
United Bancorp and Hudson United Bank (collectively, the “Company”), a New
Jersey corporation which maintains its principal office at 1000 MacArthur
Boulevard, Mahwah, New Jersey, and Thomas R. Nelson (the “Executive”), and
amends the Change in Control, Severance and Employment Agreement for Thomas R.
Nelson, which was made effective as of October 1, 2002 (the “Agreement”).

 

WHEREAS, the
Executive is presently an executive officer of the Company;  and

 

WHEREAS, the
Executive and the Company wish to amend the Agreement to clarify certain
provisions therein;

 

NOW, THEREFORE,
for the good and valuable consideration set forth herein and the Executive’s
continued valuable service to the Company, the Company and the Executive, each
intending to be legally bound hereby, agree as follows:

 

1.                                       Paragraph
9(d) of the Agreement, relating to “Payments and Benefits,” is amended by
adding the following language after the end of the first sentence thereof:

 

“For purposes of
the calculation of the bonus amount component of the Lump Sum only, Paragraph
1(b)(ii)(B), regarding the Time of the Change of Control, will be disregarded.”

 

2.                                       The
Company agrees that it will not treat (for tax reporting purposes or for
calculation purposes under Section 10 of the Agreement) any benefits under the
Hudson United Bancorp Supplemental Employees’ Retirement Plan (the “SERP”) as
parachute payments under Section 280G of the Internal Revenue Code, to the
extent that such benefits were vested and accrued prior to the occurrence of
the change of control, as the SERP was not adopted in contemplation of such
change of control.

 

 

IN WITNESS WHEREOF, Company
has caused this Amendment to be signed by its duly authorized representatives
pursuant to the authority of its Board of Directors’ Compensation Committee,
and the Executive has personally executed this Agreement, all as of the day and
year first above written.

 

	
  ATTEST:

  	
  HUDSON UNITED BANCORP
  AND

  
	
   

  	
  HUDSON UNITED BANK

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Charles F.X. Poggi

  	
   

  
	
   

  	
   

  	
   

  	
  Charles F. X. Poggi

  	
   

  
	
   

  	
   

  	
   

  	
  Chairman, Compensation
  Committee

  
	
   

  	
   

  
	
   

  	
   

  
	
  WITNESS:

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  	
  /s/ Thomas R. Nelson

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Thomas R. NelsonExhibit
10.m

 

AMENDMENT
TO THE

CHANGE
IN CONTROL,

SEVERANCE
AND EMPLOYMENT AGREEMENT

FOR
JAMES RUDGERS

 

This Amendment to
the Change in Control, Severance and Employment Agreement for James Rudgers
(the “Amendment”), is made this 17th day of September, 2003, between Hudson
United Bancorp and Hudson United Bank (collectively, the “Company”), a New
Jersey corporation which maintains its principal office at 1000 MacArthur
Boulevard, Mahwah, New Jersey, and James Rudgers (the “Executive”), and amends
the Change in Control, Severance and Employment Agreement for James Rudgers,
which was made effective as of February 13, 2003 (the “Agreement”).

 

WHEREAS, the
Executive is presently an executive officer of the Company;  and

 

WHEREAS, the
Executive and the Company wish to amend the Agreement to clarify certain
provisions therein, and to provide a greater period of protection for the
Executive under the terms of the Agreement;

 

NOW, THEREFORE,
for the good and valuable consideration set forth herein and the Executive’s
continued employment with the Company, the Company and the Executive, each
intending to be legally bound hereby, agree as follows:

 

1.                                       Paragraph
1(c) of the Agreement, relating to the term “Contract Period,” is amended by
deleting the words “one year” from subparagraph (i) thereof, and replacing them
with the words “three years”.

 

2.                                       Paragraph
9(c) of the Agreement, relating to “Payments and Benefits,” is amended by
deleting the first sentence thereof, and replacing it with the following:

 

“If the Company terminates
the Executive’s employment during the Contract Period without Cause or if the
Executive resigns for Good Reason under paragraph 9(b), the Company shall, as
promptly as practical but in no event later than 10 business days after the
termination of employment pay the Executive a lump sum (the “Lump Sum”) equal
to 2.0 times the sum of (i)

 

 

the annual salary
of the Executive immediately prior to the Change in Control, and (ii) the
highest bonus paid to the Executive during the three fiscal years prior to the
Change in Control.  For purposes of the
calculation of the bonus amount component of the Lump Sum only, Paragraph
1(b)(ii)(B), regarding the Time of the Change of Control, will be disregarded.”

 

3.                                       The
Company agrees that it will not treat (for tax reporting purposes or for
calculation purposes under Section 10 of the Agreement) any benefits under the
Hudson United Bancorp Supplemental Employees’ Retirement Plan (the “SERP”) as
parachute payments under Section 280G of the Internal Revenue Code, to the
extent that such benefits were vested and accrued prior to the occurrence of
such change of control, as the SERP was not adopted in contemplation of a
change of control.

 

IN WITNESS
WHEREOF, the Company has caused this Amendment to be signed by its duly
authorized representatives pursuant to the authority of its Board of Directors’
Compensation Committee, and the Executive has personally executed this
Agreement, all as of the day and year first above written.

 

	
  ATTEST:

  	
  HUDSON UNITED BANCORP
  AND

  
	
   

  	
  HUDSON UNITED BANK

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Charles F.X. Poggi

  	
   

  
	
   

  	
   

  	
   

  	
  Charles F. X. Poggi

  	
   

  
	
   

  	
   

  	
   

  	
  Chairman, Compensation
  Committe

  
	
   

  	
   

  
	
   

  	
   

  
	
  WITNESS:

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  /s/ James Rudgers

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  James Rudgers

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