Document:

Change in Control, Severance and Employment Agreement - David S. Yanagisawa

 Exhibit 10.9 
 CHANGE IN CONTROL, SEVERANCE AND EMPLOYMENT AGREEMENT 
 THIS CHANGE IN CONTROL, SEVERANCE AND
EMPLOYMENT AGREEMENT (the “Agreement”), is made as of November 24, 2008, among Lakeland Bancorp, Inc. (the “Holding Company”), a New Jersey corporation with headquarters at 250 Oak Ridge Road, Oak Ridge,
New Jersey 07438, Lakeland Bank (the “Bank”), a New Jersey chartered commercial bank, with headquarters at 250 Oak Ridge Road, Oak Ridge, New Jersey 07438 (the Holding Company and the Bank are collectively referred to herein as the
“Company”), and David S. Yanagisawa (the “Executive”). 
 Background 
 WHEREAS, the Executive is employed as Chief Lending Officer and Executive Vice President of the Company; and 
 WHEREAS, the Company believes that the future services of the Executive are of great value to the Company and that it is important for the growth and
development of the Company that the Executive continue in his position; and 
 WHEREAS, the Board of Directors of the Holding Company (the
“Board”) believes it is imperative that the Company be able to rely upon the Executive to continue in his position in the event that the Holding Company receives any proposal from a third person concerning a possible business
combination with, or acquisition of equity securities of, the Company, and that they be able to receive and rely upon his advice, if they request it, as to the best interests of the Company and its shareholders, without concern that the Executive
might be distracted by the personal uncertainties and risks created by such a proposal; and 
 WHEREAS, to achieve that goal, and to retain
the Executive’s services prior to any such activity, the Company and the Executive have agreed to enter into this Agreement to provide the Executive with continued employment and to govern the Executive’s termination benefits in the event
of a Change in Control, as hereinafter defined, 
 NOW, THEREFORE, to assure the Company that it will have the continued dedication of the
Executive and the availability of his advice and counsel notwithstanding the possibility, threat or occurrence of a bid to take over control of the Company, and to induce the Executive to remain in the employ of the Company, and for other good and
valuable consideration, the Company and the Executive, each intending to be legally bound, hereby agree as follows: 
 1. Definitions.

 a. Cause. For purposes of this Agreement, “Cause” with respect to the termination by the Company of
Executive’s employment shall mean (i) failure by the Executive to materially perform his duties for the Company under this Agreement after at least one (1) warning in writing from the Chief Executive Officer or Chief Operating Officer
of the Holding Company identifying specifically any such material failure and offering a reasonable opportunity to cure such failure; (ii) the willful engaging by the 

 
Executive in material misconduct which causes material injury to the Company; or (iii) conviction of a crime (other than a traffic violation), habitual
drunkenness, drug abuse, or excessive absenteeism other than for illness, after a warning (with respect to drunkenness or absenteeism only) in writing from the Chief Executive Officer or Chief Operating Officer of the Holding Company to refrain from
such behavior. No act or failure to act on the part of the Executive shall be considered willful unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the action or omission was in the best
interest of the Company. The Company shall have the burden of proving “Cause” by clear and convincing evidence. 
 b. Change in Control. For purposes of this Agreement, a “Change in Control” shall mean the occurrence of any of the following events with respect to the Holding Company: 
 (A) the consummation of any consolidation or merger of the Holding Company in which the Holding Company is not the continuing or surviving
corporation or pursuant to which shares of the Holding Company’s common stock (“Common Stock”) would be converted into cash, securities or other property, other than a merger of the Holding Company in which the holders of the
shares of the Holding Company’s Common Stock immediately prior to the merger have the same proportionate ownership of common stock of the surviving corporation immediately after the merger; or 
 (B) the consummation of any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or
substantially all, of the assets of the Holding Company, other than to a subsidiary or affiliate; or 
 (C) an approval by the shareholders
of the Holding Company of any plan or proposal for the liquidation or dissolution of the Holding Company; or 
 (D) any action pursuant to
which any person (as such term is defined in Section 13(d) of the Exchange Act), corporation or other entity (other than any person who owns more than ten percent (10%) of the outstanding Common Stock on the date this Agreement is entered
into, the Holding Company or any benefit plan sponsored by the Holding Company or any of its subsidiaries) shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
shares of capital stock entitled to vote generally for the election of directors of the Holding Company (“Voting Securities”) representing fifty-one percent (51%) or more of the combined voting power of the Holding
Company’s then outstanding Voting Securities (calculated as provided in Rule 13d-3(d) in the case of rights to acquire any such securities), unless, prior to such person so becoming such beneficial owner, the Board shall determine that such
person so becoming such beneficial owner shall not constitute a Change in Control; or 
 (E) the individuals (x) who, as of the date on
which this Agreement is entered into, constitute the Board (the “Original Directors”) and (y) who thereafter are elected to the Board and whose election, or nomination for election, to the Board was approved by a vote of at
least two thirds of the Original Directors then still in office (such directors being called “Additional Original Directors”) and (z) who thereafter are elected to the Board and whose election, or nomination for election, to
the Board was approved by a vote of at least two thirds of the Original Directors and Additional Original Directors then still in office, cease for any reason to constitute a majority of the members of the Board. 
 c. Contract Period. “Contract Period” shall mean the period commencing on the day immediately preceding a Change in
Control (provided that the Change in Control occurs during the term of this Agreement, as described in Section 13(a) hereof) and ending on the earlier of (i) the second anniversary of the Change in Control, (ii) the date the Executive
would attain age 65, or (iii) the death of the Executive. 
 d. Exchange Act. “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 e. Good Reason. When used with reference to a voluntary termination by
Executive of his employment with the Company, “Good Reason” shall mean any of the following, if taken without Executive’s express written consent: 
 (i) The assignment to Executive of any duties inconsistent with, or the reduction of authority, powers or responsibilities associated
with, Executive’s position, title, duties, responsibilities and status with the Company immediately prior to a Change in Control (a “Change in Assignment”) or any removal of Executive from, or any failure to re-elect
Executive to, any position(s) or office(s) Executive held immediately prior to such Change in Control. A change in position, title, duties, responsibilities and status or position(s) or office(s) following a Change in Control shall constitute a
Change in Assignment unless the Executive’s new title, duties and responsibilities are accepted in writing by the Executive, in the sole discretion of the Executive; 

 (ii) A reduction by the Company in Executive’s annual base compensation as in effect
immediately prior to a Change in Control; 
 (iii) A failure by the Company to continue for Executive any bonus plan in which
Executive participated immediately prior to the Change in Control or a failure by the Company to continue Executive as a participant in such plan on at least the same basis as Executive participated in such plan prior to the Change in Control;

 (iv) After a Change in Control, the Company’s transfer of Executive to another geographic location outside of New
Jersey or more than twenty-five (25) miles from his present office location, except for required travel on the Company’s business to an extent substantially consistent with Executive’s business travel obligations immediately prior to
such Change in Control; 
 (v) The failure by the Company to continue in effect for Executive any employee benefit plan,
program or arrangement (including, without limitation, any 401(k) plan, life insurance plan, health and accident plan, disability plan or equity compensation plan) in which Executive is participating immediately prior to a Change in Control (except
that the Company may institute or continue plans, programs or arrangements providing Executive with substantially similar benefits); the taking of any action by the Company after a Change in Control which would adversely affect Executive’s
participation in or materially reduce Executive’s benefits under, any of such plans, programs or arrangements, the failure to continue, or the taking of any action which would deprive Executive of, any material fringe benefit enjoyed by
Executive immediately prior to such Change in Control; or the failure by the Company to provide Executive with the number of paid vacation days to which Executive was entitled immediately prior to such Change in Control; or 
 (vi) The failure by the Company to obtain an assumption in writing of the obligations of the Company to perform this Agreement by any
successor to the Company and to provide such assumption to the Executive upon consummation of the event giving rise to the Change in Control. 
 2. Employment. During the Contract Period, the Company hereby agrees to employ the Executive, and the Executive hereby accepts employment, upon the terms and conditions set forth herein. 
 3. Position. During the Contract Period, the Executive shall be employed as Executive Vice President and Chief Lending Officer of the Company
or such other corporate or divisional profit center as shall then be the principal successor to the business, assets and properties of the Company, with substantially the same title and the same duties and responsibilities as before the Change in
Control. The Executive shall devote his full time and attention to the business of the Company, and shall not during the Contract Period be engaged in any other business activity. This Section shall not be construed as preventing the Executive from
managing any investments of his which do not require any substantial service on his part in the operation of such investments. 
 4. Cash
Compensation. During the Contract Period, the Company shall pay to the Executive salary and bonus compensation for his services as follows: 
 a. Annual Salary. An annual salary equal to the annual salary in effect immediately prior to the Change in Control. The annual salary shall be payable in installments in accordance with the Company’s usual payroll method. The
annual salary shall not be reduced during the Contract Period. 

 b. Annual Bonus. Any annual cash bonus shall be payable at the time and in the manner in which the
Company paid such annual bonuses prior to the Change in Control. 
 5. Expenses and Fringe Benefits. 
 a. Expenses. During the Contract Period, the Executive shall be entitled to reimbursement for all business expenses incurred by him with
respect to the business of the Company in the same manner and to the same extent as such expenses were previously reimbursed to him immediately prior to the Change in Control. 
 b. Automobile. During the Contract Period, the Company shall provide Executive with the use of an automobile at least comparable to the
automobile provided to him immediately prior to the Change in Control. During the Contract Period, the Executive shall be entitled to reimbursement from the Holding Company for all costs and expenses incurred in operating such automobile.

 c. Other Benefits. The Executive also shall be entitled to vacations and sick days, in accordance with the practices and
procedures of the Company, as such existed immediately prior to the Change in Control. During the Contract Period, the Executive also shall be entitled to participate in the Company’s 401(k) plan and the Bank’s profit sharing plan, and
shall be entitled to hospital, health, medical and life insurance, and any other benefits enjoyed, from time to time, by Executive officers of the Company, all upon terms as favorable as those enjoyed by other Executive officers of the Company.

 Notwithstanding anything in this Section 5 to the contrary, if the Company adopts any change in the expenses allowed to, or fringe
benefits provided for, senior officers of the Company, and such policy is uniformly applied to all Executive officers of the Company (and any successor or acquirer of the Company, if any), including the chief executive officer of such entities, then
no such change shall be deemed to be contrary to this Section. 
 6. Termination for Cause. During the Contract Period, the
Company shall have the right to terminate the Executive for Cause, upon written notice to him of the termination, which notice shall specify the reasons for the termination. In the event of a valid termination for Cause, the Executive shall not be
entitled to any further compensation or benefits under this Agreement. 
 7. Disability. During the Contract Period, if the
Executive becomes permanently disabled, or is unable to perform his duties hereunder for six (6) consecutive months, the Company may terminate the employment of the Executive. In such event, the Executive shall not be entitled to any further
benefits under this Agreement other than payments under any disability policy which the Company may obtain for the benefit of senior officers generally. 
 8. Death Benefits. Upon the Executive’s death during the Contract Period, the Executive shall be entitled to the benefits of any life insurance policy paid for by the Company and naming the estate of
the Executive as the beneficiary or having allowed the Executive to name the beneficiary, but his estate shall not be entitled to any further benefits under this Agreement. 
 9. Termination Without Cause or Resignation for Good Reason. The Company may terminate
the Executive without Cause during the Contract Period by written notice to the Executive, or the Executive may resign for Good Reason during the Contract Period upon four (4) weeks’ prior written notice to the Company specifying the Good
Reason. If the Company terminates the Executive’s employment during the Contract Period without Cause or if the Executive resigns for Good Reason, the Company shall, no later than the twentieth (20th) business day following the Executive’s termination of employment, pay the Executive a lump sum equal to two (2) times the highest annual compensation, including only
salary and cash bonus, paid to the Executive during any of the three (3) calendar years immediately prior to the Change in Control (the “Lump Sum Payment”); provided, however, that the Company shall not be in
breach of this Agreement if such Lump Sum Payment is paid within twenty (20) business days following the Executive’s termination of employment; and provided, further, however, that if necessary to comply with
Section 409A(a)(2)(B) of the Internal Revenue Code of 1986, as amended (the “Code”) concerning payments to “specified employees”, the Lump Sum Payment shall be paid on the first business day of the seventh month
following the Executive’s termination of employment (or on death, if earlier), together with 

 
interest thereon during the period of such restriction at a rate, per annum, equal to the applicable federal short-term rate (compounded monthly) in effect
under Section 1274(d) of the Code on the Executive’s date of termination of employment (the “Date of Termination”). The Executive shall be a “specified employee” for the 12-month period beginning on the first day
of the fourth month following each “Identification Date” if he is a “key employee” (as defined in Section 416(i) of the Code without regard to Section 416(i)(5) thereof) of the Company at any time during the 12-month
period ending on the “Identification Date.” For purposes of the foregoing, the Identification Date shall be December 31. During the remainder of the Contract Period, the Company also shall continue to provide the Executive with and
pay for medical and hospital insurance, disability insurance and life insurance, as were provided and paid for at the time of the termination of his employment with the Company. The Executive shall also have the right to purchase from the Company,
at book value price, such automobile of the Company, if any, as was used by the Executive while employed by the Company. The Executive shall not have a duty to mitigate the damages suffered by him in connection with the termination by the Company of
his employment without Cause or a resignation for Good Reason during the Contract Period. 
 Payment of any amounts under this
Section shall be contingent upon Executive executing a general release of claims in favor of the Employer, its subsidiaries and affiliates, and their respective officers, directors, shareholders, partners, members, managers, agents or
employees, which release shall be provided to the Executive within five (5) business days following the Date of Termination, and which must be executed by the Executive and become effective within thirty (30) days thereafter. Severance
payments under this Section that are contingent upon such release shall commence within ten (10) days after such release becomes effective. 
 10. Resignation Without Good Reason. The Executive shall be entitled to resign from the employment of the Company at any time during the Contract Period without Good Reason, but upon such resignation the Executive shall not be
entitled to any additional compensation for the time after which he ceases to be employed by the Company, and shall not be entitled to any of the other benefits provided hereunder. No such resignation shall be effective unless in writing with four
weeks’ notice thereof. 
 11. Non-Disclosure of Confidential Information. In consideration of the covenants of the
Company herein, the Executive agrees as follows: 
 a. The Executive hereby agrees and acknowledges that he has and has had access to or is
aware of Confidential Information. The Executive hereby agrees that he shall keep strictly confidential and will not during and after his employment with the Company, without the Company’s express written consent, divulge, furnish or make
accessible to any person or entity, or make use of for the benefit of himself or others, any Confidential Information obtained, possessed, or known by him except as required in the regular course of performing the duties and responsibilities of his
employment by the Company while in the employ of the Company, and that he will, prior to or upon the Date of Termination deliver or return to the Company all such Confidential Information that is in written or other physical or recorded form or
which has been reduced to written or other physical or recorded form, and all copies thereof, in his possession, custody or control. The foregoing covenant shall not apply to (i) any Confidential Information that becomes generally known or
available to the public other than as a result of a breach of the agreements of the Executive contained herein, (ii) any disclosure of Confidential Information by the Executive that is expressly required by judicial or administrative order;
provided however that the Executive shall have (x) notified the Company as promptly as possible of the existence, terms and circumstances of any notice, subpoena or other process or order issued by a court or administrative authority that may
require him to disclose any Confidential Information, and (y) cooperated with the Company, at the Company’s request, in taking legally available steps to resist or narrow such process or order and to obtain an order or other reliable
assurance that confidential treatment will be given to such Confidential Information as is required to be disclosed. 
 b. For purposes of
this Agreement, “Confidential Information” means all non-public or proprietary information, data, trade secrets, “know-how”, or technology with respect to any products, designs, improvements, research, styles, techniques,
suppliers, clients, markets, methods of distribution, accounting, advertising and promotion, pricing, sales, finances, costs, profits, financial condition, organization, personnel, business systems (including without limitation computer systems,
software and programs), business activities, operations, budgets, plans, prospects, objectives or strategies of the Company. 

 12. Post-Employment Obligations. In consideration of the covenants of the Company
herein, the Executive agrees as follows: 
 a. The Executive agrees that while he is in the employ of the Company and during the
Post-employment Period (as defined below), he shall not, without the prior written consent of the Company, directly or indirectly, employ, solicit for employment, or advise or recommend to any other person that they employ or solicit for employment
or retention as a consultant, any person who is, or was at any time within twelve (12) months prior to the Date of Termination, an employee of, or exclusive consultant to, the Company. For purposes of this Agreement, “Post-employment
Period” shall mean the one (1) year period immediately following the Date of Termination. 
 b. If the Executive commits a
breach or is about to commit a breach, of any of the provisions of Sections 11 or 12 hereof, the Company shall have the right to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction without being
required to post bond or other security and without having to prove the inadequacy of the available remedies at law, it being acknowledged and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that
money damages will not provide an adequate remedy to the Company. In addition, the Company may take all such other actions and remedies available to them under law or in equity and shall be entitled to such damages as they can show they have
sustained by reason of such breach. 
 c. The parties acknowledge that the type and periods of restriction imposed in the provisions of
Sections 11 and 12 hereof are fair and reasonable and are reasonably required for the protection of the Company and the goodwill associated with the business of the Company; and that the provisions of Sections 11 and 12 have been specifically
negotiated by sophisticated parties and are given as an integral part of this Agreement. 
 13. Terms of Initial Executive
Compensation. The Company agrees to pay or provide the following compensation and/or benefits in consideration of Executive’s continued employment: 
 a. Executive’s initial base annual compensation will be $210,000; 
 b. Executive shall be granted
a one time “signing bonus” in the amount of $27,500 on the payroll period first following 90 days of employment with the Company; 
 c. Upon commencement of Executive’s employment with the Company on or about November 24, 2008, the Executive shall be granted 9,000 restricted shares (the “Restricted Shares”) of the Holding Company’s common
stock (the “Common Stock”) pursuant to the Lakeland Bancorp, Inc. Amended and Restated 2000 Equity Compensation Program (the “Plan”). A total of 12.5% of such Restricted Shares shall vest on each of the first,
second, third and fourth anniversary of the Executive’s employment commencement date, with the 50% balance of such Restricted Shares vesting on the fifth anniversary of the Executive’s employment commencement date, provided that the
Executive is an employee of the Employer on the respective vesting date. Except as provided in the Plan, any Restricted Shares that have not vested as of the date of the Executive’s termination of employment shall be forfeited; 
 d. Executive shall be entitled to use of a company owned vehicle (the make and model to be approved by the Chief Executive Officer of the Company) that
will include the costs of fuel and maintenance, in accordance with the Company’s guidelines in accordance for vehicles. The Executive shall be responsible for any tax liability associated with the personal use of the vehicle; 
 e. Executive shall be entitled to reimbursement of all expenses incurred in the performance of his duties; and 
 f. Executive shall be entitled to vacations and sick days, in accordance with the practices and procedures of the Company. The Executive also shall be
entitled to participate in the Company’s 401(k) plan and the Bank’s profit sharing plan, and shall be entitled to hospital, health, medical and life 

 
insurance, and any other benefits enjoyed, from time to time, by senior officers of the Company, all upon terms as favorable as those enjoyed by other senior
officers of the Company, except that Executive shall be entitled to participate in the Company’s bonus and restricted stock plans starting in such plans’ 2009 programs. 
 Notwithstanding anything in this Section 13 to the contrary, if the Company adopts any change in the expenses allowed to, or fringe benefits
provided for, senior officers of the Company, and such policy is uniformly applied to all senior officers of the Company (and any successor or acquirer of the Company), then no such change shall be deemed to be contrary to this Section. 

14. No Effect Prior to Change in Control. This Agreement shall not affect any rights of the Company to terminate the Executive prior
to a Change in Control or any other rights of the Executive granted in any other agreement, plan or arrangements. In addition, if the employment of the Executive by the Company is ended for any reason whatsoever prior to a Change in Control, the
provisions of Sections 11 and 12 hereof shall survive. Other than as described in this Section 14, if the employment of the Executive by the Company is ended for any reason whatsoever prior to a Change in Control, this Agreement shall
thereafter be of no further force and effect. 
 15. Certain Reduction of Payments by the Company. 
 a. Anything in this Agreement to the contrary notwithstanding, prior to the payment of any compensation or benefits payable under Section 9
hereof, the certified public accountants of the Company immediately prior to a Change of Control (the “Certified Public Accountants”) shall determine as promptly as practical and in any event within twenty (20) business days
following the termination of employment of Executive whether any payment or distribution by the Company to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or
otherwise) (a “Payment”) would more likely than not be nondeductible by the Company for federal income tax purposes because of Section 280G of the Code, and, if it is, then the aggregate present value of amounts payable or
distributable to or for the benefit of Executive pursuant to this Agreement (such amounts are hereinafter referred to as “Agreement Payments”) shall be reduced (but not below zero) to the Reduced Amount. For purposes of this
paragraph, the “Reduced Amount” shall be an amount expressed in present value which maximizes the aggregate present value of Agreement Payments without causing any Payment to be nondeductible by the Company because of said
Section 280G of the Code. 
 b. If under paragraph a of this section the Certified Public Accountants determine that any Payment
would more likely than not be nondeductible by the Company because of Section 280G of the Code, the Company shall promptly give the Executive notice to that effect and a copy of the detailed calculation thereof and of the Reduced Amount, and
the Executive may then elect, in his sole discretion, which and how much of the Agreement Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Agreement Payments equals the Reduced Amount), and
shall advise the Company in writing of his election within twenty (20) business days of his receipt of notice. If no such election is made by the Executive within such twenty (20) day period, the Company may elect which and how much of the
Agreement Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Agreement Payments equals the Reduced Amount) and shall notify the Executive promptly of such election. For purposes of this
paragraph, present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Certified Public Accountants shall be binding upon the Company and Executive and shall be made within twenty
(20) days of a termination of employment of Executive. The Company may suspend for a period of up to thirty (30) days after termination of employment the Lump Sum Payment and any other payments or benefits due to the Executive under
Section 9 hereof until the Certified Public Accountants finish the determination and the Executive (or the Company, as the case may be) elect how to reduce the Agreement Payments, if necessary. As promptly as practicable following such
determination and the elections hereunder, the Company shall pay to or distribute to or for the benefit of Executive such amounts as are then due to Executive under this Agreement and shall promptly pay to or distribute for the benefit of Executive
in the future such amounts as become due to Executive under this Agreement. 

 c. As a result of the uncertainty in the application of Section 280G of the Code, it is
possible that Agreement Payments may have been made by the Company which should not have been made (“Overpayment”) or that additional Agreement Payments which will not have been made by the Company could have been made
(“Underpayment”), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Certified Public Accountants, based upon the assertion of a deficiency by the Internal Revenue Service against
the Company or Executive which said Certified Public Accountant believe has a high probability of success, determines that an Overpayment has been made, Executive shall repay such Overpayment to the Company together with interest at the applicable
federal rate provided for in Section 7872(f)(2)(A) of the Code; provided, however, that no amount shall be payable by Executive to the Company in and to the extent such payment would not reduce the amount which is subject to taxation under
Section 4999 of the Code. In the event that the Certified Public Accountants, based upon controlling precedent, determine that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of
the Executive together with interest at the applicable federal rate provided for in Section 7872(f)(2)(A) of the Code. 
 16. Severance Compensation and Benefits Not in Derogation of Other Benefits. Anything to the contrary herein contained notwithstanding, the payment or obligation to pay any monies, or the granting of any benefits, rights or
privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of the Company, except that the Executive shall not be entitled
to the benefits of any other plan or program of the Company expressly providing for severance or termination pay if the Executive is terminated without Cause or resigns for Good Reason after a Change in Control. 
 17. Miscellaneous. The terms of this Agreement shall be governed by, and interpreted and construed in accordance with the provisions of,
the laws of New Jersey and, to the extent applicable, federal law. This Agreement supersedes all prior agreements and understandings with respect to the matters covered hereby. The amendment or termination of this Agreement may be made only in a
writing executed by the Company and the Executive, and no amendment or termination of this Agreement shall be effective unless and until made in such a writing. This Agreement shall be binding upon any successor (whether direct or indirect, by
purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the assets of the Company. This Agreement is personal to the Executive and the Executive may not assign any of his rights or duties hereunder, but this
Agreement shall be enforceable by the Executive’s legal representatives, executors or administrators. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, and it shall not be necessary
in making proof of this Agreement to produce or account for more than one such counterpart. Each of the parties hereto expressly waives trail by jury in connection with any action involving or relating to this Agreement. 

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

			
	LAKELAND BANCORP, INC.
		
	By:	 	 /s/ Thomas J. Shara

		 	Thomas J. Shara, President and CEO
		 	Dated: December 23, 2008
	
	LAKELAND BANK
		
	By:	 	 /s/ Thomas J. Shara

		 	Thomas J. Shara, President and CEO
		 	Dated: December 23, 2008
		
		 	 /s/ David S. Yanagisawa

		 	David S. Yanagisawa
		 	Dated: December 23, 2008Exhibit 10.1

 Exhibit 10.1 
 RESTATED EMPLOYMENT AGREEMENT 
 THIS RESTATED EMPLOYMENT AGREEMENT (this
“Agreement”), dated December 29, 2008, is by and between ICF International, Inc., a Delaware corporation headquartered at 9300 Lee Highway, Fairfax, Virginia (the “Company”), and Sudhakar Kesavan (the
“Executive”). 
 WHEREAS, the Executive has served as Chief Executive Officer of the Company and its predecessor, ICF
Incorporated, since 1999 under the terms of an Employment Agreement dated as of June 25, 1999 (the “Original Agreement”) and an Amended and Restated Employment Agreement dated September 27, 2006 (the “Amended
Employment Agreement”); 
 WHEREAS, the Company became a publicly traded company on September 28, 2006, through an initial
public offering; and 
 WHEREAS, the Company and the Executive desire to restate the Amended Employment Agreement to comply fully with the
provisions of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance issued thereunder (collectively, “Section 409A”); 
 NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

	1.	Term of Employment. 

 The Company hereby employs the
Executive, and the Executive hereby accepts continued employment with the Company, upon the terms and conditions set forth in this Agreement. Subject to the provisions of Section 5, this Agreement may be terminated by either party upon
forty-five (45) days’ prior written notice. 
  

	2.	Title; Duties. 

  

	 	(a)	President and Chief Executive Officer and Chairman of the Board of Directors. The Executive shall be employed as President and Chief Executive Officer and shall serve as
Chairman of the Board of Directors of the Company. The Executive shall perform such services consistent with his position as may be assigned to him from time to time by the Board of Directors of the Company and are consistent with the applicable law
and the Certificate of Incorporation and Bylaws of the Company, including, but not limited to, managing the business and affairs of the Company. 

  

	 	(b)	Committees. At all times during the Executive’s employment, the Executive shall be a member of the Company’s Executive Committee if there shall be such a Committee
and may serve, at the discretion of the Board, as a member of such other committees as may be established by the Board. 

	 	(c)	Employment of Company Officers. No offers of employment by the Company to senior executive officers shall be made without the prior approval of the Executive.

  

	3.	Extent of Services. 

  

	 	(a)	General. The Executive agrees not to engage in any business activities during the Executive’s employment except those which are for the sole benefit of the Company, and
to devote his entire business time, attention, skill and effort to the performance of his duties under this Agreement. Notwithstanding the foregoing, the Executive may (i) engage in personal investments; provided that the Executive shall not
acquire more than 5% of the equity of another business without the prior approval of the Compensation Committee of the Board of Directors, (ii) engage in charitable, professional and civic activities (including serving on the board of directors
of non-profit, charitable and civic organizations) which do not impair the performance of his duties to the Company, and (iii) with the prior approval of the Compensation Committee, serve on the boards of directors or trustees of for-profit
corporations other than the Company. The Executive shall, to the best of his ability, execute the strategic plan of the Company as approved by the Board, perform his duties, adhere to the Company’s published policies and procedures, promote the
Company’s interests, reputation, business and welfare, and work actively with the Board of Directors and other senior managers to help augment the existing business base, increase the corporate contract backlog and identify and develop new
business opportunities. 

  

	 	(b)	Corporate Opportunities. The Executive agrees that, unless approved by the Board of Directors, he will not take personal advantage of any business opportunities which arise
during his employment with the Company and which may be of benefit to the Company. All material facts regarding such opportunities must be promptly reported to the Board of Directors for consideration by the Company. 

  

	4.	Compensation and Benefits. 

  

	 	(a)	 Salary. The Company shall pay the Executive a gross base annual salary (“Base Salary”) of not less than $375,000. Effective January 1,
2007, the annual rate of Base Salary was increased by no less than $25,000 over the annual rate of Base Salary in effect for the preceding year. Effective January 1, 2008, and on each subsequent January 1 during the Executive’s
employment, the annual rate of Base Salary shall be increased by no less than the increase in the CPI National Index for the year over the annual rate of Base Salary in effect for the preceding year. In addition to the aforementioned increases in
Base Salary, the Compensation Committee may, from time to time, increase the Executive’s Base Salary based on the performance of the Company and other factors deemed relevant by the Compensation Committee. Effective as of the date of any such
increase, the Base Salary as so increased shall be considered the new Base Salary for all purposes of this Agreement and thereafter may not be reduced. The salary 

  

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shall be payable in arrears in approximately equal bi-weekly installments on the Company’s regularly scheduled payroll dates, minus such deductions as
may be required by law or reasonably requested by the Executive. 

  

	 	(b)	Incentive Compensation. In the discretion of the Compensation Committee of the Board of Directors, the Executive shall be eligible for annual incentive compensation
(“IC”) awards for the immediately preceding fiscal year in an amount up to 100% of the Executive’s Base Salary for the prior fiscal year. 

  

	 	(c)	Equity Awards. In the discretion of the Compensation Committee of the Board of Directors, the Executive shall be eligible to receive stock options, restricted shares and
other equity awards on such terms as may be determined by the Compensation Committee. 

  

	 	(d)	Deductions from Compensation. The Company shall withhold from the Executive’s compensation any and all applicable local, state, federal, or foreign taxes, including, but
not limited to, income tax, withholding tax, and social security tax as well as any elective deferrals under tax-qualified pension plans and nonqualified deferred compensation plans maintained by the Company. 

  

	 	(e)	Employee Benefits. The Executive shall be entitled to participate in any and all employee benefit programs for which the Executive may be eligible, as may exist at any
particular time and from time to time during the Executive’s employment. 

  

	 	(f)	Executive Benefits. The Executive shall be entitled to all executive benefits that the Company makes available to other executives, as may exist at any particular time and
from time to time during the Executive’s employment. In addition, the Company shall assist the Executive with his purchase of a term life insurance policy on the Executive in an amount of at least $1,000,000; provided that the Executive is
eligible for such a life insurance policy at reasonable rates. The Company also shall pay expenses up to $3,000 per year relating to the Executive’s tax and estate planning. Further, the Executive may attend, at the Company’s expense,
subject to prior approval of expenses by the Compensation Committee, two weeks of management education during each year of the Executive’s employment. To the extent that any such benefits are subject to the provisions of Section 409A, in
compliance with Section 409A: (i) the amount of expenses eligible for reimbursement and/or the provision of in-kind benefits during any calendar year shall not affect the amount of expenses eligible for reimbursement or the provision of
in-kind benefits in any other calendar year; (ii) the reimbursement of an eligible expense shall be made on or before December 31 of the calendar year following the calendar year in which the expense was incurred; and (iii) the right
to reimbursement or the right to in-kind benefits shall not be subject to liquidation or exchange for another benefit. 

  

	 	(g)	 Reimbursement of Business Expenses. The Company shall reimburse the Executive for all reasonable business travel, business entertainment and other business
expenses incurred or paid by the Executive in connection with, or related 

  

 - 3 - 

	 	 
to, the performance of his duties, responsibilities or services under this Agreement, upon presentation by the Executive of documentation, expense
statements, vouchers, and/or such other supporting information as the Company may reasonably request. To the extent that any such reimbursements are subject to the provisions of Section 409A, in compliance with Section 409A: (i) the
amount of expenses eligible for reimbursement during any calendar year shall not affect the amount of expenses eligible for reimbursement in any other calendar year; (ii) the reimbursement of an eligible expense shall be made on or before
December 31 of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement shall not be subject to liquidation or exchange for another benefit. 

  

	5.	Termination. 

 Termination of employment for all
purposes under this Agreement shall mean a separation from service as defined under Section 409A. 
  

	 	(a)	Termination by the Company for Cause. The Company may terminate the Executive’s employment at any time for Cause upon written notice by the Company to the Executive.
“Cause” for termination shall mean any of the following: (i) any act that would constitute a material violation of the Company’s material written policies; (ii) willfully engaging in conduct materially and
demonstrably injurious to the Company; provided, however, that no act or failure to act, on the Executive’s part, shall be considered “willful” unless done, or omitted to be done, by the Executive not in good faith and without
reasonable belief that his action or omission was in the best interest of the Company; (iii) being indicted for, or if charged with but not indicted for, being tried for (a) a crime of embezzlement or a crime involving moral turpitude or
(b) a crime with respect to the Company involving a breach of trust or dishonesty or (c) in either case, a plea of guilty or no contest to such a crime; or (iv) abuse of alcohol in the workplace, use of any illegal drug in the
workplace or a presence under the influence of alcohol or illegal drugs in the workplace. 

  

	 	(b)	Termination by the Executive. The Executive may voluntarily terminate his employment upon forty-five (45) days’ prior written notice to the Company. As provided in
the Original Agreement, because the Executive has served continuously since 1999, the Executive may, in his discretion, declare that such termination is for “Good Reason” and be entitled to the benefits of Section 6(c) hereof.

  

	 	(c)	 Involuntary Termination by the Company Without Cause. Termination of the Executive’s employment without Cause shall mean involuntary termination by the
Company (i) for any reason other than for Cause, (ii) upon the death of the Executive, or (iii) in the Company’s sole discretion, upon thirty (30) days’ prior written notice in the event the Executive becomes
“Disabled,” as defined in any group long-term disability insurance contract maintained by the Company under which the Executive is covered, or, if the Company shall not maintain such 

  

 - 4 - 

	 	 
insurance, “Disabled” shall mean that the Executive is incapacitated by reason of a physical or mental illness which is long-term in nature
and which prevents the Executive from performing the substantial and material duties of his employment with the Company; provided that such incapacity can reasonably be expected to prevent the Executive from working at least six consecutive months
in any twelve month period. The Company may require the Executive to have an examination at any time for the purpose of determining whether the Executive has a long-term disability described in the preceding sentence, and the Executive agrees to
submit to such examination upon request of the Board of Directors; provided that the Company shall pay all costs and expenses associated with such examination. 

  

	6.	Effect of Termination. 

  

	 	(a)	General. Regardless of the reason for termination of the Executive’s employment, the Executive shall be entitled to the following (provided that the Severance Protection
Agreement originally dated September 27, 2006 and restated to be effective as of December 31, 2008, shall govern, in accordance with its terms, the benefits, if any, to which the Executive is entitled following any termination of the
Executive’s employment following a Change in Control as defined in such Severance Protection Agreement): 

  

	 	(i)	payment of any unpaid portion of his Base Salary through the effective date of termination (the “Termination Date”); 

  

	 	(ii)	reimbursement for any outstanding reasonable business expense he has incurred in performing his duties hereunder prior to the Termination Date; 

  

	 	(iii)	continued insurance benefits to the extent required by law; 

  

	 	(iv)	payment of any accrued but unpaid amount as required independently of this Agreement by the terms of any bonus or other incentive pay, or any other employee benefit plan or program
of the Company, including but not limited to the Company’s incentive compensation arrangements, that is not subject to any deferral election shall be prorated through the Termination Date, subject to satisfaction of any established performance
goals, and will be paid at the normal time of payment pursuant to the incentive compensation plan (or other plan) under which such amount is payable; and 

  

	 	(v)	any unvested equity awards that are not subject to Section 409A (such as stock options and restricted stock) and that were issued to the Executive prior to the Termination Date
will become vested but will remain exercisable for the balance of their terms; and any unvested equity awards that are subject to Section 409A (such as restricted units) and that were issued to the Executive prior to Termination Date will
become vested but not payable until their original vesting dates. 

  

 - 5 - 

	 	(b)	Termination by the Company for Cause or by the Executive Without Good Reason. If the Company terminates the Executive’s employment for Cause pursuant to
Section 5(a) or the Executive terminates his employment without Good Reason (less than 45 days’ notice), the Executive shall have no rights or claims against the Company except to receive the payments and benefits described in
Section 6(a). 

  

	 	(c)	Termination by the Company Without Cause or by the Executive for Good Reason. If the Company terminates the Executive’s employment without Cause pursuant to
Section 5(c), or the Executive terminates his employment for Good Reason pursuant to Section 5(b), the Executive shall be entitled to receive, in addition to the items referenced in Section 6(a) the amounts set forth below.

  

	 	(i)	Basic Severance Pay and Additional Severance Pay as defined below and payable in the manner hereinafter set forth. The amount of Basic Severance Pay will be paid in approximately
equal installments by the Company to the Executive over the 24-month period following his Termination Date on the Company’s regularly scheduled payroll dates, subject to all legally required payroll deductions and withholdings. The amount of
Additional Severance Pay will be paid in a single lump sum cash payment by the Company to the Executive (or his designated beneficiary) on the earliest of (i) the first business day after six months following his Termination Date, (ii) the
Executive’s death, or (iii) such other date that will cause such payment not to be subject to any additional tax imposed pursuant to the provisions of Section 409A. Each payment of such severance benefits shall be deemed to be a
separate payment for purposes of applying Section 409A, and in no event shall the payment of Basic Severance Pay be made later than the last day of the second taxable year following the taxable year in which his Termination Date occurs.

 For purposes of this paragraph 6(c)(i): 
  

	 	(A)	“Basic Severance Pay” means an amount equal to the Executive’s Base Salary multiplied by two; provided, however, in no event shall such amount exceed the
amount permitted to be paid pursuant to Treas. Reg. §1.409A-1(b)(9)(iii)(A). 

  

	 	(B)	“Additional Severance Pay” means an amount equal to the product of Executive’s Base Amount in effect on his Termination Date multiplied by two minus the amount
permitted to be paid pursuant to Treas. Reg. §1.409A-1(b)(9)(iii)(A). 

  

	 	(ii)	Any unvested equity awards that are not subject to Section 409A (such as stock options and restricted stock) and that were issued to the Executive prior to his Termination Date
will become vested but will remain exercisable for the balance of their terms; and any unvested equity awards that are subject to Section 409A (such as restricted units) and that were issued to the Executive prior to his Termination Date will
become vested but not payable until their original vesting dates. 

  

 - 6 - 

	 	(iii)	A pro-rata share of any IC that is not subject to any deferral election to which the Executive otherwise would have actually been entitled for the fiscal year in which his
employment terminates; subject to satisfaction of any established performance goals, with such IC (pro-rated on a daily basis) to be paid to the Executive at the normal time of payment pursuant to the incentive compensation plan under which such
amount is payable. 

  

	 	(iv)	At the expense of the Company, and subject to contractual eligibility requirements, continuation of the Executive’s family health and dental insurance policy in effect as of
the date of termination for twenty-four (24) months following his Termination Date, or, in the event the Company cannot continue coverage of such policy, the Company shall pay for equivalent coverage for twenty-four (24) months following
his Termination Date. To the extent that any such medical benefits are subject to the provisions of Section 409A, in compliance with Section 409A and not withstanding any other provision of the Company’s plans in effect from time to
time: (i) the amount of expenses eligible for reimbursement and the provision of in-kind benefits during any calendar year shall not affect the amount of expenses eligible for reimbursement or the provision of in-kind benefits in any other
calendar year; (ii) the reimbursement of an eligible expense shall be made on or before December 31 of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement or the right
to in-kind benefits shall not be subject to liquidation or exchange for another benefit. To the extent such benefits constitute “nonqualified deferred compensation” subject to Section 409A and the Executive is a “specified
employee” within the meaning of Section 409A, the Executive shall pay the Company and employee, if any, costs for the first six months following his Termination Date, and the Company shall reimburse the Executive for such costs in the
first payroll thereafter. 

  

	 	(d)	Except as permitted under Section 409A, no acceleration of the time or form of payment of deferred compensation under this Agreement shall be permitted. Notwithstanding any
other provision in the Plan or any agreement to the contrary, if and to the extent that Section 409A is deemed to apply to the Agreement, it is the intention of the parties that the Agreement shall comply with Section 409A, and the
Agreement, to the extent practicable, shall be construed in accordance therewith. Without in any way limiting the effect of the foregoing, in the event that the provisions of Section 409A require any special terms, provisions or conditions be
included in the Agreement, then such terms, provisions, and conditions, to the extent practicable, shall be deemed to be made a part of the Agreement. Notwithstanding the foregoing, the parties agree that the Company, any Affiliate, the Board of
Directors of the Company or their designees or agents shall not be liable for any taxes, penalties, interest or other monetary amount that may be owed by you as a result of any deferral or payments under the Agreement or as a result of the
administration of amounts subject to the Agreement. 

  

 - 7 - 

	7.	Confidentiality and Inventions. 

 The Executive
acknowledges that he shall continue to be bound by the ICF Incorporated Employee Agreement on Ideas, Inventions, and Confidential Information executed by the Executive on September 16, 1987, and the ICF Incorporated Employee Confidentiality
Agreement executed by the Executive on July 31, 1986. 
  

	8.	Non-Solicitation. 

  

	 	(a)	Non-Solicitation of Clients. The Executive agrees that, for a period of (i) twenty-four (24) months from the date of termination of the Executive’s employment
for Cause pursuant to Section 5(a) or by the Executive without Good Reason pursuant to Section 5(b), or (ii) twelve (12) months from the date of termination of the Executive’s employment without Cause pursuant to
Section 5(c), by the Executive for Good Reason pursuant to Section 5(b) or pursuant to the Severance Protection Agreement (the “Client Non-Solicitation Term”), the Executive shall not, directly or indirectly, solicit any
Client of the Company (as defined below) for the purpose of providing services which are competitive with the Company’s major practice areas, as described in the final prospectus relating to the Offering. The Executive further agrees that,
during the Client Non-Solicitation Term, the Executive shall not, directly or indirectly, whether as employee, agent, partner, member, consultant or in any other capacity, participate, assist or be involved, in any respect, in any proposal or
project which the Company is or was involved in during the one (1) year period prior to the date of termination of the Executive’s employment with the Company. 

  

	 	(b)	“Client of the Company” shall mean any person or entity which is or was a client of the Company at any time during the one (1) year period prior to the
termination of the Executive’s employment with the Company or any person or entity which the Company is or was soliciting during the one (1) year period prior to the termination of the Executive’s employment with the Company. If any
such person or entity described above is an agency or department of any federal, state or local government, the “Client of the Company” shall be deemed to be only the specific agency or department with which the Company had or has a client
relationship or to which the Company has made a solicitation and not any other agency or department of such federal, state or local government. 

  

	 	(c)	 Non-Solicitation of Employees. The Executive agrees that, for a period of (i) twenty-four (24) months from the date of termination of the
Executive’s employment for Cause pursuant to Section 5(a) or by the Executive without Good Reason pursuant to Section 5(b), or (ii) eighteen (18) months from the date of termination of the Executive’s employment without
Cause pursuant to Section 5(c) or by the Executive for Good Reason pursuant to Section 5(b), the Executive 

  

 - 8 - 

	 	 
shall not hire, solicit or encourage, or cause others to hire, solicit or encourage, any employee of the Company to terminate their employment with the
Company. Notwithstanding anything to the contrary above, this Section shall not prohibit the Executive from hiring or attempting to hire, directly or indirectly, any former employee of the Company whose employment with the Company shall have
terminated at least six (6) months prior to such efforts by the Executive. 

  

	 	(d)	Acknowledgement. The Executive acknowledges that he will acquire much confidential information concerning the past, present and future business of the Company as the result
of his employment, as well as access to the relationships between the Company and its clients and employees. The Executive further acknowledges that the business of the Company is very competitive and that competition by him in that business during
his employment, or after his employment terminates, would severely injure the Company. The Executive understands and agrees that the restrictions contained in this Section 8 are reasonable and are required for the Company’s legitimate
protection, and do not unduly limit his ability to earn a livelihood. 

  

	9.	Employee Representations and Warranties. The Executive represents and warrants to the Company as follows: 

  

	 	(a)	The Executive is not now under any obligation of a contractual or other nature to any person, business or other entity which is inconsistent or in conflict with this Agreement or
which would prevent him from performing his obligations under this Agreement. 

  

	 	(b)	The Executive has never been affiliated with, in any capacity, a government contractor that has been suspended or debarred from its contract with the government during the
Executive’s affiliation with such contractor. 

  

	 	(c)	There are no pending or threatened claims against the Executive in any court or agency of any jurisdiction. 

  

	10.	Arbitration. 

  

	 	(a)	Any disputes between the Company and the Executive in any way concerning the Executive’s employment, the termination of his employment, this Agreement or its enforcement shall
be submitted at the initiative of either party to mandatory arbitration in Fairfax County, Virginia before a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association, or its successor, then in effect.
The decision of the arbitrator shall be rendered in writing, shall be final, and may be entered as a judgment in any court in the Commonwealth of Virginia. The parties irrevocably consent to the jurisdiction of the federal and state courts located
in the Commonwealth of Virginia for this purpose. Each party shall be responsible for its or his own costs incurred in such arbitration and in enforcing any arbitration award, including attorney’s fees. 

  

 - 9 - 

	 	(b)	Notwithstanding the foregoing, the Company, in its sole discretion, may bring an action in any court of competent jurisdiction located in the Commonwealth of Virginia to seek
injunctive relief and such other relief as the Company shall elect to enforce the Executive’s covenants in Section 8 of this Agreement. 

  

	11.	Miscellaneous. 

  

	 	(a)	Notices. Any notices, requests, demands, waivers, comments, or other communications contemplated hereunder shall be deemed to have been duly given if personally delivered or
if sent by a nationally recognized overnight courier, by facsimile, or by registered or certified mail, return receipt requested and postage prepaid, addressed as follows: 

 If to the Company: 
 ICF International, Inc. 
 9300 Lee Highway 
 Fairfax, Virginia 22301 
 Attention: Chairman 
 If to the Executive: 
 ICF International, Inc. 
 9300 Lee Highway 
 Fairfax, Virginia 22301 
 Attention: Sudhakar Kesavan 
 or 
 to such other address specified by the Executive 
 and shall be deemed to have been received (a) in the case of personal delivery, on the date of such delivery, (b) in the case of a nationally
recognized overnight courier, on the next business day after the date when sent, (c) in the case of facsimile transmission, when received, and (d) in the case of mailing, on the third business day following posting. 
  

	 	(b)	Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of
nouns and pronouns shall include the plural, and vice versa. 

  

	 	(c)	 Entire Agreement. This Agreement, together with the Severance Protection Agreement, constitutes the entire agreement between the parties and supersedes all
prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. In the event of a conflict between any terms of this Agreement and any terms of the Severance Protection Agreement or any of the other
agreements mentioned herein, the terms of this Agreement shall govern, 

  

 - 10 - 

	 	 
provided that the Severance Protection Agreement shall govern, in accordance with its terms, the benefits, if any, to which the Executive is entitled
following any termination of the Executive’s employment following a Change in Control as defined in the Severance Protection Agreement. 

  

	 	(d)	Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Executive. 

  

	 	(e)	Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Virginia, without regard to its conflicts of
laws principles. 

  

	 	(f)	Assignment. This Agreement is a personal contract and, except as specifically set forth herein, the rights and interests of the Executive herein may not be sold, transferred,
assigned, pledged or hypothecated. 

  

	 	(g)	Waiver. No delays or omission by the Company or the Executive in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or
consent given by the Company or the Executive on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

  

	 	(h)	Captions. The captions appearing in this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any Section of this
Agreement. 

  

	 	(i)	Time. All references in this Agreement to periods of days are to calendar days, unless expressly provided otherwise. Where the time period specified in this Agreement would
end on a weekend or holiday, the time period shall be deemed to end on the next business day. 

  

	 	(j)	Severability. In case any provision of this Agreement shall be held by a court or arbitrator with jurisdiction over the parties to this Agreement to be invalid, illegal or
otherwise unenforceable, such provision shall be restated to reflect, as nearly as possible, the original intentions of the parties in accordance with applicable law, and the validity, legality and enforceability of the remaining provisions shall in
no way be affected or impaired thereby. 

  

	 	(k)	Binding Effect. This Agreement shall inure to the benefit of and be binding upon the parties and their respective executors, administrators, personal representatives, heirs,
assigns and successors in interest. 

  

	 	(l)	Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the
same instrument. 

  

 - 11 - 

	 	(m)	Survival of the Executive’s Rights. All of the Executive’s rights hereunder, including his rights to compensation and benefits pursuant to Section 4, rights
upon termination pursuant to Section 6, and his obligations pursuant Section 8, shall survive the termination of the Executive’s employment and/or the termination of this Agreement. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written. 
  

							
	 	 	 	 	ICF INTERNATIONAL, INC.
				
	 /s/ Sudhakar Kesavan
	 		 	By:	 	 /s/ Judith B. Kassel

	Sudhakar Kesavan	 		 		 	Judith B. Kassel
		 		 		 	 Executive Vice President, General Counsel
 &
Corporate Secretary

  

 - 12 -

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