Document:

EX-10.48

 Exhibit 10.48 
  

					
	 October 21, 2014
  

Mr. Denis J. Salamone
 10160 Northridge Ct.

Bonita Springs, FL 34135
	  	 

  
	  	
	  		  
	  		  	
	  		  	

 Dear Denis: 
 As
you are aware, Hudson City Bancorp, Inc. (the “Company”) has entered into an Agreement and Plan of Merger by and among M&T Bank Corporation, Hudson City Bancorp, Inc. and Wilmington Trust Corporation dated as of August 27, 2012,
which has been amended by Amendment No. 1 to Agreement and Plan of Merger (“Amendment No. 1”), dated as of April 13, 2013, and Amendment No. 2 to Agreement and Plan of Merger (“Amendment No. 2”), dated as
of December 16, 2013 (such agreement as amended, the “Merger Agreement”). The purpose of this letter is to (i) address changes to the Merger Agreement made by Amendment No. 2 relating to recognition of bonuses in the
determination of severance; (ii) address the agreement on bonus severance under Section 6.5(c) of the Merger Agreement; and (iii) make a technical correction. 

You agree and confirm that you are party to an Amended and Restated Employment Agreement, made and entered into as of October 29, 2001
and amended and restated as of June 7, 2005 and again as of December 1, 2008 and amended by a letter agreement dated December 24, 2012 (the “Prior Letter Agreement”), with each of the Company (the “Company
Agreement”) and its subsidiary, Hudson City Savings Bank (the “Bank Agreement”). You further agree with Hudson City Savings Bank (the “Bank”) that the Bank Agreement is hereby amended, and agree with the Company that the
Company Agreement is hereby amended, in each case as follows: 
 (a) Section 12(b)(iii) of each of the Company Agreement
and the Bank Agreement is amended to strike all language added to the end thereof by the Prior Letter Agreement, and to replace that language with the following: 

Notwithstanding anything in this agreement to the contrary, for purposes of calculating the Bonus Severance Payment under this
Section 12(b)(iii): (A) any annual bonus paid or declared for the year 2014 shall be considered only to the extent that it does not exceed Eight Hundred Thousand Dollars ($800,000), which is the target level established for such bonus; and
(B) for any termination of employment on or after the effective date of a Change of Control, the Bonus Severance Payment shall not, under any circumstance, and notwithstanding any other calculation hereunder, be less than Two Million Eight
Hundred Twelve Thousand Three Hundred Thirty Two ($2,812,332), the amount of such severance payment that would have resulted in respect of a termination as of August 27, 2012. 

(b) Section 12(b)(iv) of each of the Company Agreement and the Bank Agreement is amended to replace the reference to
“Table VI of § 1.72-9 of the Income Tax Regulations” therein with a reference to “Table V of § 1.72-9 of the Income Tax Regulations”. 

The provisions of this letter shall take effect when signed by you, the Bank and the Company; however, in the event that the
transactions contemplated by the Merger Agreement are not consummated 

  
 WEST
80 CENTURY ROAD   ¿
  PARAMUS, NJ 07652-1478   ¿
  201.967.1900 

 
and the Merger Agreement is terminated, following such termination, the language added to section 12(b)(iii) of the Company Agreement and the Bank Agreement under (a) above shall cease to be
of further force or effect. 
 We appreciate your cooperation in this matter and your continued dedication to Hudson City. If the terms of
this letter are acceptable to you, kindly indicate your agreement by signing where indicated below and returning it to the attention of Christopher Nettleton. 

 

			
	 Sincerely,
  

HUDSON CITY BANCORP, INC.

		
	By:	 	 

 
			
	Name:	 	William G. Bardel
	Title:	 	Lead Independent Director

 
			
		
		 	HUDSON CITY SAVINGS BANK

 
			
		
	By:	 	 

 
			
	Name:	 	William G. Bardel
	Title:	 	Lead Independent Director

  

	
	Acknowledged and Agreed to:
	
	 

	Denis J. Salamone

 Date: Oct. 21, 2014 
 For
Internal Use Only: 
 Received on: 10/21/14 
  

	
	
	 

	Authorized Signature

  
 2EX-10.49

 Exhibit 10.49 
  

 
 October 9, 2014 

                          
                

                          
                

                          
                
 Dear
                    : 
 As you
are aware, Hudson City Bancorp, Inc. (the “Company”) has entered into an Agreement and Plan of Merger by and among M&T Bank Corporation, Hudson City Bancorp, Inc. and Wilmington Trust Corporation dated as of August 27, 2012, which has
been amended by Amendment No. 1 to Agreement and Plan of Merger (“Amendment No. 1”), dated as of April 13, 2013, and Amendment No. 2 to Agreement and Plan of Merger (“Amendment No. 2”), dated as of December 16,
2013 (such agreement as amended, the “Merger Agreement”). The purpose of this letter is to (i) address changes to the Merger Agreement made by Amendment No. 2 relating to recognition of bonuses in the determination of severance;
(ii) address the agreement on bonus severance under Section 6.5(c) of the Merger Agreement; and (iii) make a technical correction. 

You agree and confirm that you Hudson City Savings Bank (the “Bank”) and the Company are parties to an [Amended and Restated] Two
Year Change of Control Agreement , made and entered into as of                      and amended by a letter agreement (the “Prior Letter
Agreement”) dated December 14, 2012 (the “Change of Control Agreement”). 
 You further agree with the Bank and the Company
that the Change of Control Agreement is hereby amended as follows: 
 (a) Section 6(b)(iii) of the Change of Control
Agreement is amended to strike all language added to the end thereof by the Prior Letter Agreement, and to replace that language with the following: 

Notwithstanding anything in this agreement to the contrary, for purposes of calculating the Bonus Severance Payment under this
Section 6(b)(iii): (A) any annual bonus paid or declared for the year 2014 shall be considered only to the extent that it does not exceed [amount that is 65% of annual base salary], which is the target level established for such bonus; and (B)
for any termination of employment on or after the effective date of a Change of Control, the Bonus Severance Payment shall not, under any circumstance, and notwithstanding any other calculation hereunder, be less than
                            , the amount of such severance payment that would have resulted in respect
of a termination as of August 27, 2012. 
 (b) Section 6(b)(v) of the Change of Control Agreement is amended to
replace the reference to “Table VI of § 1.72-9 of the Income Tax Regulations” therein with a reference to “Table V of § 1.72-9 of the Income Tax Regulations”. 

The provisions of this letter shall take effect when signed by you, the Bank and the Company; however, in the event that the transactions
contemplated by the Merger Agreement are not consummated and the Merger Agreement is terminated, following such termination, the language added to section 6(b)(iii) of the Change of Control Agreement under (a) above shall cease to be of further
force or effect. 
 We appreciate your cooperation in this matter and your continued dedication to Hudson City. If the terms of this letter
are acceptable to you, kindly indicate your agreement by signing where indicated below and returning it to the attention of Christopher Nettleton. 

 

 
  

 Sincerely, 

 

			
	HUDSON CITY BANCORP, INC.
		
	 By:
	 	  

			
	 Name:
	 	  

	 Title:
	 	  

			
	
	HUDSON CITY SAVINGS BANK
		
	 By:
	 	  

			
	 Name:
	 	  

	 Title:
	 	  

 Acknowledged and Agreed to: 

	
	
	
             

	[Name]

  

			
	 Date:
	 	 

  

			
	For Internal Use Only:
		
	Received on:	 	 
	
	  

Authorized Signature

 Schedule of executive officers with an agreement in place with Hudson City Bancorp and Hudson City Savings on
substantially similar terms to the Change of Control Agreement as amended up to and including amendment by this letter agreement: 
 Dedrick, Tracey A 

Fabiano, Anthony J 
 Kranz, James C 

Laird, Thomas EEX-10.50

 Exhibit 10.50 
  

 
 October 9, 2014 
 Dear
                    : 
 As you
are aware, Hudson City Bancorp, Inc. (the “Company”) has entered into an Agreement and Plan of Merger by and among M&T Bank Corporation, Hudson City Bancorp, Inc. and Wilmington Trust Corporation dated as of August 27, 2012, which
has been amended by Amendment No. 1 to Agreement and Plan of Merger (“Amendment No. 1”), dated as of April 13, 2013, and Amendment No. 2 to Agreement and Plan of Merger (“Amendment No. 2”), dated as of
December 16, 2013 (such agreement as amended, the “Merger Agreement”). The purpose of this letter is to (i) address changes to the Merger Agreement made by Amendment No. 2 relating to recognition of bonuses in the
determination of severance; and (ii) make a technical correction. 
 You agree and confirm that you, Hudson City Savings Bank (the
“Bank”) and the Company are parties to an [Amended and Restated] Two Year Change of Control Agreement , made and entered into as of
                    and amended by a letter agreement (the “Prior Letter Agreement”) dated December 14, 2012 (the “Change
of Control Agreement”). You further agree with the Bank and the Company that the Change of Control Agreement is hereby amended as follows: 

(a) Section 6(b)(iii) of the Change of Control Agreement is amended to strike all language added to the end thereof by the
Prior Letter Agreement, and to replace that language with the following: 
 Notwithstanding anything in this agreement to the contrary, for
purposes of calculating the Bonus Severance Payment under this Section 6(b)(iii) any annual bonus paid or declared for the year 2014 shall be considered only to the extent that it does not exceed [amount that is 45% of annual base salary],
which is the target level established for such bonus. 
 (b) Section 6(b)(v) of the Change of Control Agreement is
amended to replace the reference to “Table VI of § 1.72-9 of the Income Tax Regulations” therein with a reference to “Table V of § 1.72-9 of the Income Tax Regulations”. 

The provisions of this letter shall take effect when signed by you, the Bank and the Company; however, in the event that the transactions
contemplated by the Merger Agreement are not consummated and the Merger Agreement is terminated, following such termination, the language added to section 6(b)(iii) of the Change of Control Agreement under (a) above shall cease to be of
further force or effect. 

 We appreciate your cooperation in this matter and your continued dedication to Hudson City. If
the terms of this letter are acceptable to you, kindly indicate your agreement by signing where indicated below and returning it to the attention of Christopher Nettleton. 

 

			
	Sincerely,
	
	HUDSON CITY BANCORP, INC.
		
	By:	 	  

	Name:	 	Anthony J. Fabiano
	Title:	 	President and Chief Operating Officer
	
	HUDSON CITY SAVINGS BANK
		
	By:	 	  

	Name:	 	Anthony J. Fabiano
	Title:	 	President and Chief Operating Officer

 Acknowledged and Agreed to: 

	
	
	              

[Name]

  

			
	 Date:
	 	 

  

			
	For Internal Use Only:
		
	Received on:	 	 
	
	  

Authorized Signature

 Schedule of executive officers with an agreement in place with Hudson City Bancorp and Hudson City Savings on
substantially similar terms to the Change of Control Agreement as amended up to and including amendment by this letter agreement: 
 Beierle, Louis J. 

Butkovich, Ronald J 
 Corridon, V. Barry 

Daly, Michael 
 Klarer, James A 

LaCalamito, William J 
 Mahler, Christopher L. 

McCambridge, Michael D. 
 McIntyre, Kenneth 

Nettleton, J. Christopher 
 Olszewski, Veronica A. 

Schlesinger, Steven M. 
 Valentovic, Dennis J

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