Document:

EX-10.1

 Exhibit 10.1 

MERCANTIL BANK HOLDING CORPORATION 

FORM OF CLASS A STOCK PURCHASE AGREEMENT 

This Stock Purchase Agreement (this “Agreement”) is dated as of February 25, 2019, by and among Mercantil Bank Holding
Corporation, a Florida corporation (the “Company”), and to the purchaser identified on the signature page hereto (the “Purchaser”). 

The Company is offering (the “Offering”) solely to limited number of accredited investors, in a private placement exempt from
registration under Section 4(a)(2) of the Securities Act and Securities and Exchange Commission (“SEC”) Rule 506, up to an aggregate of 1.9 million shares of Company Class A $0.10 par value common stock (the
“Class A Shares”). The Purchaser seeks to purchase, on the terms and subject to the conditions set forth in this Agreement, the aggregate number of Class A Shares shown on such purchaser’s signature
page. 
 In consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are acknowledged,
the parties, intending to be legally bound, agree as follows: 
 ARTICLE 1. 

PURCHASE AND SALE 
 1.1
Purchase and Sale. Subject to the terms and conditions set forth in this Agreement, at the Closing, the Company shall issue, sell and deliver to each Purchaser, and each Purchaser shall, severally and not jointly, purchase from the Company,
the respective number of Class A Shares set forth on such Purchaser’s signature page (the “Purchased Shares”) in uncertificated book-entry form pursuant to instructions of such Purchaser provided to the Company at least
three Business Days in advance of the Closing Date. 
 1.2 Closing. Subject to the terms and conditions of this Agreement, the
purchase and sale of the Purchased Shares contemplated hereby shall take place at a closing (the “Closing”) to be held at 10:00 A.M., Atlanta time, not later than the second Business Day after the last of the conditions to Closing
set forth in Articles 5 and 6 have been satisfied or waived (the “Closing Date”). The Closing will be held at the offices of Jones Day, 1420 Peachtree Street, N.E., Suite 800, Atlanta, Georgia, 30309, or at such other place
as the parties may mutually agree. 
 1.3 Settlement. As payment in full for the Purchased Shares, on the Closing Date, upon receipt
of the Purchased Shares, each Purchaser shall deliver to the Company the price per share indicated on such Purchaser’s signature page, multiplied by the number of Purchased Shares (such aggregate amount, the “Purchase Price”).
Payment of the Purchase Price shall be made in funds immediately available to the Company by wire transfer on the Closing Date. 

 ARTICLE 2. 

COMPANY REPRESENTATIONS AND WARRANTIES 

The Company represents and warrants to each Purchaser, as of the date hereof and as of the Closing Date, as follows: 

2.1 Organization and Authority. The Company is a corporation duly organized, validly existing, and in good standing under the Laws of
State of Florida and is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company has full corporate power and authority to enter into this Agreement and the other
Transaction Documents to which the Company is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby and thereby. The execution and delivery by the Company of this Agreement and any
other Transaction Document to which the Company is a party, the performance by the Company of its obligations hereunder and thereunder, and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized
by all requisite action on the part of the Company. This Agreement and each Transaction Document constitute legal, valid, and binding obligations of the Company enforceable against the Company in accordance with their respective terms. 

2.2 No Conflicts or Consents. Neither the execution, delivery or performance by the Company of this Agreement and the other Transaction
Documents to which it is a party, the compliance by the Company with all the provisions hereof and thereof, nor the consummation by the Company of the transactions contemplated hereby and thereby: (i) requires any consent, approval,
authorization, notice, or other order of, or registration or filing with, any federal, state or local court, governmental, legislative, judicial, administrative authority, regulatory authority, taxing authority, agency, commission, body or other
governmental entity or self-regulatory organization (each, a “Governmental Authority”) (except such as may be required under the securities or “Blue Sky” Laws of the various states) or any third party; (ii) conflicts
with or will conflict with or constitutes or will constitute a breach of or a default under, the Company’s organizational documents or any agreement, indenture, lease or other instrument to which the Company is bound; or (iii) violates any
Law applicable to the Company. 
 2.3 No Proceedings. There are no proceedings by or before any Governmental Authority pending to
which the Company is a party that, if determined adversely to the Company, individually or in the aggregate, would prevent or materially impair the consummation of the transactions contemplated by this Agreement. 

2.4 SEC Filings; Financial Statements. 

(a) The Company has made timely, all filings required of it by the Securities Act or the Exchange Act (such filings, including the exhibits
thereto, the “SEC Reports”). The SEC Reports, at the later of the time any of these became effective or were filed with the Commission, as the case may be, or as to any specific dates as of which such information was given in such
filings, complied in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and the SEC’s rules and regulations thereunder, and none of such documents as of the dates of filing or effectiveness, or
the specific dates such information was given in such filings, as applicable, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances under which they were made. 

  
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 (b) The Company and each of its subsidiaries maintain disclosure controls and procedures (as
defined in SEC Rule 13a-15(e) under the Exchange Act) designed to ensure that the material information relating to the Company and its consolidated subsidiaries that is required to be disclosed by the Company
and its subsidiaries in the reports they file or submit under the Exchange Act is collected and communicated to management of the Company and its subsidiaries, including their respective principal executive officers and principal financial officers,
as appropriate, to allow timely decisions regarding required disclosure to be made, and such disclosure controls and procedures are effective in all material respects to perform the functions for which they were established. 

(c) The consolidated financial statements of the Company and its consolidated subsidiaries included in the SEC Reports comply in all material
respects with the SEC rules and regulations applicable thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis
during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto, and except for the absence of footnotes in unaudited interim financial statements, which are subject to
normal year-end adjustments, and fairly present in all material respects the consolidated financial position of the Company and its consolidated subsidiaries as of the dates thereof and the consolidated
results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. There are no financial statements (historical
or pro forma) that are required to be included in the SEC Reports that are not so included as required. The Company does not have any material liability, direct or contingent, that is not disclosed in the SEC Reports. 

(d) Since the date of the latest financial statements included in the SEC Reports, and except as disclosed in a subsequent SEC Report filed
prior to the Closing, there has not been any event or development that has had, or which is reasonably expected to have, a material adverse effect on the (A) financial condition, results of operations, properties, business or prospects of the
Company and its subsidiaries, taken as a whole, (B) the transactions contemplated by this Agreement or (C) the Company’s ability to perform its obligations under this Agreement (a “Material Adverse Effect”). 

2.5 Issuance of the Shares. The issuance of the Purchased Shares has been duly authorized and the Purchased Shares, when issued and paid
for in accordance with the terms of the Transaction Documents, will be duly and validly issued, fully paid and non-assessable and free and clear of all Liens, other than restrictions imposed by applicable
securities Laws. 
 2.6 Offering. 

(a) Neither the Company nor any Person acting on behalf of the Company has offered or sold any shares of the Class A Common Stock by any
form of general solicitation or general advertising. Assuming the accuracy of the Purchaser’s representations and warranties, and the Purchaser’s performance of its obligations hereunder, the offer and sale of the Purchased Shares are
exempt from (i) registration under the Securities Act, Section 4(a)(2) and SEC Rule 506, and (ii) subject to the making of any required filings, exempt from registration or qualification under applicable state securities or “blue
sky” laws. 

  
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 (b) The Company has offered the Purchased Shares for sale only to the Purchaser and certain
other persons reasonably believed by the Company or the Placement Agent to be “accredited investors” within the meaning of SEC Rule 501 under the Securities Act. 

2.7 Capitalization. 
 (a)
The authorized capital of the Company consists solely of 400 million Class A Shares, of which 27,235,996 shares are issued and outstanding, and 100 million authorized shares of class B common stock, par value $0.10 per share
(“Class B Shares”), of which 16,330,917 shares are issued and outstanding. Herein, Class A Shares and Class B Shares are referred to as “Company Shares”. 

(b) Except pursuant to this Agreement and the other purchase agreements entered into by the Company in connection with the Offering (such other
purchase agreements, the “Other Offering Agreements”), and Company Shares which may be issued from time to time in the ordinary course in connection with Company compensation, incentive or benefit plans or arrangements
(“Company Plans”), the Company has no agreements to issue additional Company Shares. 
 (c) The issued and outstanding
Class A Shares are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “AMTB.” The Company has taken no action to
terminate the registration of the Class A Shares under the Exchange Act or the listing of the Class A Shares on Nasdaq, and has no knowledge that the SEC has taken or is threatening any action to terminate the Company’s registration
under the Exchange Act or that Nasdaq has taken or is threatening any action to delist Class A Shares. 
 (d) Except as set forth in the
SEC Reports, in this Agreement and the Other Offering Agreements, or in connection with Company Plans, the Company has granted no outstanding options, rights (including conversion, preemptive rights or rights of first refusal) with respect to any
Company Shares. Except as set forth in the SEC Reports, there are no voting agreements between the Company and any other Person relating to the Company’s Class A Shares or Class B Shares. 

(e) Except for Class B Shares held by Mercantil Servicios Financieros, C.A. (“MSF”), the Company is not obligated to
register any Company Shares held by any holder, except as may be required by any purchaser in the Offering. 
 (f) The Company and the Bank
are each well-capitalized for bank regulatory purposes and the Offering of Class A Shares is not being made to meet any Regulatory Authority’s (as defined below) regulatory capital requirements. The Company and the Bank are not required by
any Regulatory Authority to issue or incur any debt. 

  
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 (g) There are no anti-dilution or price adjustment provisions contained in any security
issued by the Company (or in any agreement providing rights to security holders) that will be triggered by the issuance of the Purchased Shares. 

2.8 Disclosure. 
 (a) The
Company has not provided, and to the Company’s knowledge, none of its officers or directors nor any other Person acting on its or their behalf has provided, and it has not authorized the Placement Agent to provide, the Purchaser or its
respective agents or counsel with any information that it believes constitutes material non-public information regarding the Company or its subsidiaries, except the existence and terms of this Agreement and
the transactions contemplated hereby may constitute such information, all of which will be disclosed by the Company as contemplated by the Nondisclosure Agreement dated as of January 23, 2019, and Section 4.1 below.

 (b) Within 10 days of the Closing, the Company will file Current Reports on Form 8-K disclosing
the Offering and all sales of the Class A Shares made pursuant to the Offering and the information described in the penultimate clause of Section 2.8(a) above. 

2.9 Compliance with Law. 

(a) The Company and its subsidiaries are in compliance in all material respects with all applicable Law (including, without limitation,
applicable regulations, the U.S. Foreign Corrupt Practices Act of 1977, as amended, and all applicable Anti-Money Laundering Laws), except where such noncompliance would not, individually or in the aggregate, be reasonably expected to have a
Material Adverse Effect. 
 (b) No action, suit or proceeding by or before any court or governmental agency, authority or body or any
arbitrator alleging violations by the Company or any of its subsidiaries with respect to any of the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 

(c) For the last five years, the Company and each of its subsidiaries have filed all material periodic reports, registrations and statements,
together with any required amendments thereto, required to be filed with the Board of Governors of the Federal Reserve System (“Federal Reserve”), the Office of the Comptroller of the Currency (“OCC”), the Federal
Deposit Insurance Corporation (“FDIC”). Herein, the Federal Reserve, the OCC and the FDIC are referred to as the “Regulatory Authorities.” 

2.10 Regulatory Actions. 

(a) Except as described or contemplated in the Company’s SEC Reports, or as would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, none of the Company, Amerant Bank, N.A. (the “Bank”) nor any of the Company’s subsidiaries (i) is a party to or otherwise subject to any order, decree, agreement, memorandum of
understanding, corrective or cease and desist order, order of prohibition or suspension, written agreement or other written statement as described under 12 U.S.C. 1818(u) or other regulatory enforcement action, proceeding or order with or by, or is
a party to or recipient of a commitment 

  
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 letter, supervisory letter or similar undertaking to or from its Regulatory Authorities or other
governmental authorities, (ii) is subject to any directive by, any Regulatory Authority (whether or not such Regulatory Authority has determined that publication would be contrary to the public interest or otherwise cannot be made) or other
governmental authority, or (iii) has adopted any board resolutions at the request of any of the Regulatory Authorities. 
 (b) None of
the Company, the Bank nor any of the Company’s subsidiaries has been advised by any Regulatory Authority or any other applicable governmental authority that it is contemplating issuing or requesting (or is considering the appropriateness of
issuing or requesting) any order, decree, agreement, memorandum of understanding, corrective or cease and desist order, order of prohibition or suspension, commitment letter, supervisory letter or similar undertaking or other written agreement or
statement described or contemplated in Section 2.10(a), and there is no unresolved violation, criticism or exception by any Regulatory Authority or any other applicable governmental authority with respect to any examination
of the Company and its subsidiaries which could reasonably be expected to result in a Material Adverse Effect. 
 2.11 Absence of Material
Change. Except as described or contemplated in the Company’s SEC Reports, (i) neither the Company nor any of its subsidiaries has incurred any material liabilities or obligations, indirect, direct or contingent, or entered into any
material transaction that is not in the ordinary course of business other than the Offering, (ii) neither the Company nor any of its subsidiaries has sustained any material loss or interference with its business or properties from fire, flood,
windstorm, accident or other calamity, whether or not covered by insurance, (iii) the Company has not paid or declared any cash dividends or other distributions with respect to its capital stock and the Company is not in default under the terms
of any class of capital stock of the Company or any outstanding debt obligations, (iv) there has not been any material change in the authorized or outstanding capital stock of the Company or any material change in the indebtedness of the
Company (other than in the ordinary course of business) and (v) there has not been any material adverse change, or any development involving or that may reasonably be expected to result in a Material Adverse Effect, in the condition (financial
or otherwise), business, properties, result of operations or prospects of the Company 
 2.12 Other Offering Agreements. The Company
will not enter into any Other Offering Agreement that provides for any term that is more beneficial to the purchaser thereunder than is provided to the Purchaser under this Agreement without providing such Other Offering Agreement (which may be
redacted with respect to the identity of the applicable purchaser) to Purchaser, and, if Purchaser so elects, the Company and the Purchaser will promptly amend this Agreement to provide any such term to the Purchaser. 

  
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 ARTICLE 3. 

PURCHASER REPRESENTATIONS AND WARRANTIES 

Each Purchaser, solely for itself and for no other Purchaser, represents and warrants to the Company as follows: 

3.1 Organization and Authority of the Purchaser. The Purchaser is duly organized and validly existing under the laws of the jurisdiction
of its organization. The execution and delivery by the Purchaser of this Agreement and the other Transaction Documents to which the Purchaser is a party, the performance by the Purchaser of its obligations hereunder and thereunder, and the
consummation by the Purchaser of the transactions contemplated hereby and thereby have been duly authorized by all requisite action on the part of the Purchaser. This Agreement and each Transaction Document constitute legal, valid, and binding
obligations of the Purchaser enforceable against the Purchaser in accordance with their respective terms. 
 3.2 No Conflicts or
Consents. Neither the execution, delivery or performance by Purchaser of this Agreement and the other Transaction Documents to which it is a party, the compliance by the Purchaser with all the provisions hereof and thereof, nor the consummation
by the Purchaser of the transactions contemplated hereby and thereby: (i) requires any consent, approval, authorization, notice or other order of, or registration or filing with, any Governmental Authority (except such as may be required under
the securities or Blue Sky laws of the various states) or any third party; (ii) conflicts with or will conflict with or constitutes or will constitute a breach of or a default under, the Purchaser’s organizational documents or any
agreement, indenture, lease or other instrument to which the Purchaser is bound; or (iii) violates any Law applicable to the Purchaser. 

3.3 Purchaser Status, etc. At the time such Purchaser was offered the Purchased Shares, it was, and will be at Closing, an
“accredited investor” as defined in Rule 501(a) under the Securities Act or a “qualified institutional buyer”, as defined in SEC Rule 144A. The Purchaser (i) is not purchasing the Purchased Shares as a result of any
advertisement, article, notice or other communication regarding the Class A Common Stock published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation
or general advertisement, (ii) will not sell or otherwise dispose of any of the Purchased Shares, except in compliance with the registration requirements or exemption provisions of the Securities Act and any other applicable securities Laws,
and (iii) has such knowledge and experience in financial and business matters and in investments of this type in bank holding companies, including knowledge of the Company, that it is capable of evaluating the merits and risks of the Company
and of its investment in the Purchased Shares and of making an informed investment decision. The Purchaser is not a registered broker-dealer under Section 15 of the Exchange Act or a Person engaged in the business of being a broker-dealer. 

3.4 Access to Information. The Purchaser, either alone or through its representatives has: 

(a) had a reasonable opportunity to ask such questions as it has deemed necessary of, and to receive answers from, the officers and
representatives of the Company concerning the Company’s financial condition and results of operations, the business plan for the Company and any additional relevant information that the Company possesses, and any such questions have been
answered to its satisfaction; 
 (b) had the opportunity to review and evaluate all publicly available records and filings concerning the
Company, as well as all such other documents, records, filings, reports, agreements and other materials provided by the Company regarding its business, operations and financial condition sufficient to enable it to evaluate its investment; and 

  
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 (c) consulted with its own legal, regulatory, tax, business, investment, financial and
accounting advisers in connection herewith to the extent it has deemed necessary in its sole discretion in connection with this Agreement. 

(d) has not sought, nor to its knowledge, received any material nonpublic information regarding the Company, except the existence of the
transactions contemplated hereby and the terms of this Agreement. 
 3.5 No Reliance. The Purchaser has made its own investment
decisions based upon its own judgment, due diligence and advice from such advisers as it has deemed necessary and not upon any view expressed by any other Person, including the Placement Agent or any other Purchaser. The Purchaser has not relied
upon the Placement Agent or any other Purchaser in making its decisions to purchase the Purchased Shares, or to enter into this Agreement. The Purchaser understands that (i) its investment in the Purchased Shares involves risks and it is able
to afford a complete loss of this investment, (ii) no representation is being made as to the prospects of the Company or the value of the Purchased Shares, and (iii) no representation is being made as to any projections or estimates
delivered to or made available to the Purchaser (or any of its affiliates or representatives) of the Company’s future assets, liabilities, shareholders’ equity, regulatory capital ratios, net interest income, net income or any component of
any of the foregoing or any ratios derived therefrom. 
 3.6 Sufficient Funds. The Purchaser at the Closing will have all funds
necessary to pay for the Class A Shares purchased and to timely deliver the Purchase Price. 
 3.7 No Acting in Concert, etc.

 (a) Other than with affiliates of the Purchaser who may also be Purchasers, the Purchaser is not “acting in concert” with any
other Purchaser or Person(s) for the purpose of acquiring “control” of the Company, in each case as those terms are defined for purposes of the Change in Bank Control Act of 1978, as amended (the “CIBC Act”) and its
implementing regulations, and is not acting as part of or forming a “group” (as defined in the Exchange Act, Section 13(d)(3) and SEC rules thereunder) with any other Persons(s). Without limiting the foregoing, the Purchaser does not
and will not as a result of its purchase or holding of Purchased Shares or any other securities of the Company have “control” of the Company, and has no present intention of acquiring “control” of the Company, for purposes of the
BHC Act or the CIBC Act. 
 (b) For a period of one year from the date of this Agreement, without the prior written consent of the Company,
the Purchaser will not (i) solicit for employment any employees of the Company or its subsidiaries or (ii) solicit for employment, hire or divert any of the Company’s directors, officers or those employees of the Company. The
foregoing clauses (i) and (ii) shall not prohibit any general solicitation or advertisement or the use of a search firm or similar entity that has not been directed by you to contact or focus on such persons or the making of an offer of
employment to, and the employment of, any person who responds to such general solicitation or advertisement or search firm. 

  
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 (c) The Purchaser confirms that (i) it does not and will not at any time own 5% or more
of any class or series of debt or equity issued by Mercantil Servicios Financieros, C.A. or any of its affiliates (collectively, “MSF”), when the Purchaser also owns 5% or more of any class or series of Company’s capital stock,
beneficially or otherwise, directly or indirectly, and during such period (ii) no person affiliated with the Recipient is or will be a director, officer or “management official” (as defined in Federal Reserve Regulation L) of MSF. For
the purposes of this Section 3.7(c), none of the Company nor any of its subsidiaries is an affiliate of MSF. 
 3.8 No Filings,
etc. The Purchaser, when considered with any other holdings of Company securities by the Purchaser and its affiliates, does not require any notices to, filings with or approvals by any Governmental Authority, including the Federal Reserve, the
OCC and the SEC. 
 ARTICLE 4. 

OTHER AGREEMENTS 
 4.1
Certain Filings; Press Releases. 
 (a) On or prior to the fourth (4th) business day following the Closing Date, the Company will file
a Current Report on Form 8-K with the SEC describing the material terms of the acquisition of the Purchased Shares. The Company may also issue a press release describing such material terms. 

(b) Notwithstanding Section 4.1(a), the Company shall not publicly disclose the name of any Purchaser, or include the
name of any Purchaser in any filing with the SEC, any regulatory agency or Nasdaq, without the prior written consent of such Purchaser, except as required by applicable Law, in which case the Company shall provide the Purchasers with prior notice of
such disclosure. 
 4.2 Brokers and Finders. 

(a) None of the Company nor any of its subsidiaries has employed any broker or finder or incurred any liability for any brokerage fees,
commissions or finders or similar fees in connection with the transactions contemplated by this Agreement, except that the Company has retained and will compensate Raymond James & Associates, Inc., as its placement agent for the
Class A Shares sold hereby (the “Placement Agent”). The Company is solely obligated to pay the Placement Agent’s fees and expenses, and the Purchaser shall have no liability for the Placement Agent’s fees and expenses
in connection with the transactions contemplated by this Agreement. 
 (b) None of the Purchaser nor any of its subsidiaries has employed any
broker or finder or incurred any liability for any brokerage fees, commissions or finders or similar fees in connection with the transactions contemplated by this Agreement. 

(c) The Company will indemnify and hold harmless the Purchaser from any broker, finder or similar fees or expenses incurred by the Company in
connection with this Agreement and the transactions contemplated hereby. The Purchaser will indemnify and hold harmless the Company from any broker, finder or similar fees or expenses incurred by the Purchaser in connection with this Agreement or
the transactions contemplated hereby. 

  
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 4.3 Cooperation. In addition to each party’s express obligations under this
Agreement and the other Transaction Documents, each of the parties shall use its reasonable efforts, prior to, on and after the Closing, to take, or cause to be taken, all actions, and to do, or cause to be done, all things, reasonably necessary,
proper, advisable or expedient to consummate and make effective the transactions contemplated herein and in the Transaction Documents. 
 4.4
Transfer Restrictions; Current Information Under Rule 144. 
 (a) Each Purchaser acknowledges that the Purchased Shares are being
offered and sold to it by the Company through the Placement Agent in reliance on specific exemptions from the registration requirements of U.S. federal and state securities laws and regulations and that the Company is relying in part upon the truth
and accuracy of, and the Purchaser’s compliance with, the Purchaser’s representations, warranties, agreements, and acknowledgments set forth herein in order to determine the availability of such exemptions and the eligibility of the
Purchaser to acquire the Purchased Shares. 
 (b) In order to enable the Purchasers to sell the Purchased Shares under Rule 144 promulgated
under the Securities Act (as amended, “Rule 144”), for a period (the “Period”) beginning six months after the Closing and ending on the first anniversary of the Closing, the Company shall timely file all reports
required to be filed by the Company pursuant to the Exchange Act, or, if the Company is not required to file reports pursuant to the Exchange Act, it will prepare and make publicly available in accordance with Rule 144(c) such information as is
required for the Purchasers to sell the Purchased Shares under Rule 144. 
 (c) In the event that the Company has not provided the
“current public information” (as defined in SEC Rule 144(c)) sufficient to permit the Purchaser to rely on Rule 144 during the Period, the Company will, within 20 business days of failing to comply with this obligation, cure such failure
by providing any missing current public information. 
 (d) The Purchased Shares and any interest therein may only be disposed of by the
Purchaser in compliance with state and federal securities Laws. In connection with any transfer of Purchased Shares other than (i) pursuant to an effective Securities Act registration statement, (ii) pursuant to Rule 144, subject to
Purchaser’s delivery to the Company of reasonable assurances (in the form of seller and, if applicable, broker representation letters) that the Purchased Shares may be sold pursuant to Rule 144, or (iii) to the Company, the Company may
require the transferor thereof to provide to the Company and the Transfer Agent an opinion of counsel selected by the transferor and reasonably acceptable to the Company and its Transfer Agent, the form and substance of which opinion shall be
reasonably satisfactory to the Company and the Transfer Agent, to the effect that such transfer does not require registration of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee shall agree in
writing to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under this Agreement. 
 (e) Each
Purchaser covenants that it is purchasing the Purchased Shares without a view to any distribution thereof, and will not knowingly make any distribution, sale, transfer, or other disposition of any Purchased Shares, or engage in hedging or derivative
transactions with respect to such Purchased Shares, in violation of the Securities Act or the Exchange Act. 

  
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 (f) Each Purchaser acknowledges and agrees that: (a) notations reflecting the following
restrictions on transfer will be made with respect to the Purchased Shares on the books and records of the Company’s Transfer Agent; and (b) except to the extent such restrictions are waived by the Company, no Purchaser shall transfer any
Purchased Shares without complying such restrictions: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND NONE OF SUCH SECURITIES OR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT RELATING THERETO UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. 

(g) Upon the written request of the holder, the notations described in Section 4.4(h) shall be removed and the
Company shall reissue the Purchased Shares to such holder by electronic delivery at the applicable balance account at DTC, if (i) such Purchased Shares are registered for resale under the Securities Act, (ii) such Purchased Shares are sold
or transferred pursuant to and in compliance with Rule 144, (iii) such Purchased Shares are eligible for sale under Rule 144 and the Company is then in compliance with the current public information required under Rule 144(c) (or Rule 144(i)(2), if
applicable), (iv) such Purchased Shares are eligible for sale under Rule 144 without the requirement for the Company to be in compliance with such current public information as to such securities and without volume or
manner-of-sale restrictions or (v) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and
pronouncements issued by the staff of the SEC) (the conditions set forth in the foregoing clauses (i) through (v), the “Rule 144 Conditions”). 

(h) Upon the satisfaction of any of the Rule 144 Conditions, the Company, upon the written request of the holder, shall instruct its Transfer
Agent to remove such notations from its books and records with respect to the Purchased Shares and shall cause its counsel to issue any legal opinion necessary to remove such legend and stop transfer restrictions, which are required by the Transfer
Agent. Any fees (with respect to the Transfer Agent, Company counsel or otherwise) associated with the issuance of such opinion or the removal of such notations shall be borne by the Company. 

4.5 Blue Sky. The Company shall take such actions as are reasonably necessary in order to obtain an exemption for, or to qualify the
Class A Shares for, sale to the Purchaser at the Closing under applicable securities or “Blue Sky” laws of the states of the United States, and shall provide evidence of such actions promptly upon request of the Purchaser. 

  
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 4.6 Indemnification. The Company agrees to indemnify and hold harmless each
Purchaser, its partners, owners, affiliates, officers, directors, employees, and duly authorized agents (collectively, the “Purchaser Indemnified Parties”), from and against any loss, claim, damage, liability, cost or expense
(including, without limitation, attorneys’ fees expenses), to which such Purchaser Indemnified Person becomes subject, resulting from, arising out of or relating to any breach of any of the representations, warranties, covenants or agreements
made by the Company in this Agreement or in any other Transaction Document, except to the extent that any such loss, claim, damage, liability, cost or expense is attributable to the willful misconduct or fraud of such Purchaser Indemnified Party.

 ARTICLE 5. 

CONDITIONS TO THE OBLIGATIONS OF THE COMPANY 

The Company’s obligations to issue and sell the Purchased Shares to the Purchasers and to perform its obligations under this Agreement
are subject to the satisfaction or waiver by the Company, on or before such Closing Date, of the following conditions: 
 5.1
Representations and Warranties to be True and Correct. The representations and warranties of each Purchaser contained in Article 3 shall have been true and correct when made and on and as of the Closing Date with the same effect as
though made on and as of the Closing Date. 
 5.2 Performance. Each Purchaser shall have performed and complied in all material
respects with all obligations herein required to be performed or complied with by it prior to or at the Closing Date. 
 ARTICLE 6.

 CONDITIONS TO OBLIGATIONS OF THE PURCHASERS 

Each Purchaser’s obligations to purchase and pay for the Purchased Shares and to perform its obligations under this Agreement are subject
to the satisfaction or waiver by the Purchaser on or before such Closing Date, of the following conditions: 
 6.1 Representations and
Warranties to be True and Correct. The representations and warranties contained in Article 2 shall have been true and correct in all material respects when made and as of the Closing Date as though made on and as of the Closing Date. 

6.2 Performance. The Company shall have performed and complied in all material respects with all obligations herein required to be
performed or complied with by it prior to or at the Closing Date. 
 6.3 Legal Opinion. The Company shall provide a legal opinion in
customary form to the Purchaser as to (i) the Company’s corporate power and authority to enter into and perform this Agreement, (ii) this Agreement is enforceable in accordance with its terms, (iii) this Agreement and the
issuance of the Purchased Shares have been duly authorized by all necessary corporate action by the Company, and upon payment for the Purchased Shares by the Purchaser, the Class A Shares purchased by the Purchaser will be validly issued, fully
paid and nonassessable, (iv) no consent of any Governmental Authority is required in connection with the execution, delivery and 

  
 12 

 performance of this Agreement or in connection with the sale or issuance of the Class A Shares sold
pursuant to this Agreement, except as may be required by the federal or state securities or “blue sky” laws and (v) that the offer and sale of such Class A Shares did not require registration under the Securities Act. 

ARTICLE 7. 
 TERMINATION

 7.1 Termination. 

(a) This Agreement may be terminated and the sale and purchase of the Purchased Shares abandoned at any time prior to the Closing: 

(i) by the mutual written consent of the Company and any Purchaser (with respect to that Purchaser only); 

(ii) by either the Company or any Purchaser (with respect to that Purchaser only) upon written notice to the other, if the Closing has not
been consummated on or prior to 5:00 p.m., Eastern Time, on February 15, 2019, as long as the terminating party has not been the cause of the failure of the Closing to occur on or before such time; 

(iii) by the Company or any Purchaser, upon written notice to the other parties, in the event that any Governmental Authority shall have
issued any order, decree or injunction or taken any other action restraining, enjoining or prohibiting any of the transactions contemplated by this Agreement, and such order, decree, injunction or other action shall have become final and
nonappealable; 
 (iv) by the Company, upon written notice to a Purchaser, if there has been a breach of any representation, warranty,
covenant or agreement made by such Purchaser in this Agreement or in any nondisclosure or confidentiality agreement with the Company, or any such representation or warranty shall have become untrue after the date of this Agreement, in each case such
that a closing condition in Section 5.1 or Section 5.2 would not be satisfied with respect to such Purchaser; provided, however, that such termination by the Company shall only be as
to the breaching Purchaser and that notice of such termination shall be provided to the non-breaching Purchaser(s); or 

(v) by any Purchaser (with respect to itself only), upon written notice to the Company, if there has been a breach of any representation,
warranty, covenant or agreement made by the Company in this Agreement, or any such representation or warranty shall have become untrue after the date of this Agreement, in each case such that a closing condition in
Section 6.1 or Section 6.2 would not be satisfied. 
 (b) Nothing in this
Section 7.1 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel
specific performance by any other party of its obligations under this Agreement or the other Transaction Documents. Upon a termination in accordance with this Section 7.1, the Company and the terminating Purchaser(s) shall
have no further obligation or liability (including arising from such termination) to the other, and no Purchaser will have any liability to any other Purchaser under the Transaction Documents as a result therefrom. 

  
 13 

 ARTICLE 8. 

MISCELLANEOUS 
 8.1
Defined Terms; Rules of Construction. 
 (a) When used in this Agreement, the following terms shall have the respective meanings
specified below: 
 “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls
or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 405 under the Securities Act. 

“Anti-Money Laundering Laws” means the Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable
money laundering statutes of all jurisdictions where the Company or its subsidiaries conduct business, the rules and regulations thereunder and any applicable related or similar rules, regulations or guidelines, issued, administered or enforced by
any Governmental Authority and applicable to the Company and its subsidiaries. 
 “Business Day” means any day except
Saturday, Sunday or a day on which banks are generally not open for business in New York, New York or Miami, Florida. 

“DTC” means the Depository Trust Company. 

“Exchange Act” means the Securities Exchange Act of 1934. 

“Law” means any federal, state or foreign statute, rule, regulation, ruling, judgment, injunction, order or decree of a court
of competent jurisdiction or any agreement, consent decree or similar document or instrument with any Governmental Authority. 

“Lien” means any lien, charge, claim, encumbrance, security interest, right of first refusal, preemptive right or other
restrictions of any kind. 
 “Material Adverse Effect” has the meaning set forth in
Section 2.4(d). 
 “Person” means an individual, corporation, partnership, joint venture, limited
liability company, Governmental Authority, unincorporated organization, trust, association, or other entity. 
 “Rule 144”
means SEC Rule 144 under the Securities Act. 
 “Securities Act” means the Securities Act of 1933. 

“Transaction Documents” means this Agreement, including any and all agreements, documents and instruments between or among
the Purchasers and the Company, and any other documents or agreements executed by the Company or the Purchasers in connection with the transactions contemplated hereunder. 

  
 14 

 “Transfer Agent” means Computershare, or any successor transfer agent for
the Company. 
 (b) The words “include,” “includes,” “including” and their derivations are to be read as if
these were followed by the phrase “without limitation.” The headings and section references contained in this Agreement are for convenience of reference only and do not affect the meanings of this Agreement’s provisions. Any reference
to an agreement means that agreement as amended or supplemented, subject to any restrictions on amendment contained herein or therein. Any reference to a Law means such Law as amended or supplemented from time to time, and includes any rules and
regulations promulgated thereunder, as amended or supplemented. Any reference to gender includes all genders, and the singular shall include the plural and vice versa. If any date specified in this Agreement as a date for taking action falls on a
day that is not a Business Day, then that action may be taken on the immediately following Business Day. 
 (c) Each party has participated
in negotiating and drafting this Agreement, and if an ambiguity or question of intent or interpretation arises, this Agreement is to be construed as if the parties had drafted it jointly, and not construed against a party because it was responsible
for drafting one or more provisions of this Agreement. 
 8.2 Fees and Expenses. Each party hereto shall be responsible for the
payment of all expenses incurred by it in connection with the preparation and negotiation of the Transaction Documents and the consummation of the transactions contemplated hereby. The Company shall pay all amounts owed to the Placement Agent
relating to or arising out of the transactions contemplated hereby. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties, if any, levied in connection with the sale and issuance of the Purchased Shares to the
Purchasers. 
 8.3 Amendment and Waivers. The parties may amend this Agreement only by a written agreement executed by both parties.
The parties may waive any provision of this Agreement only by a writing executed by the party against whom the waiver is sought to be enforced. No failure or delay in exercising any right or remedy, or in requiring the satisfaction of any condition,
under this Agreement or any Transaction Documents, and no act, omission or course of dealing between the parties, operates as a waiver or estoppel of any right, remedy or condition. A waiver made in writing on one occasion is effective only in that
instance and only for the purpose and period stated in such waiver. 
 8.4 Counterparts and Execution. 

(a) This Agreement may be executed in two or more identical counterparts, each of which will be an original and all of which will constitute
one and the same agreement. This Agreement will become effective when counterparts have been signed by each party and delivered to the other party. All parties need not sign the same counterparts. 

  
 15 

 (b) The exchange of copies of this Agreement and of signature pages by facsimile
transmission, by electronic mail in “portable document format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, or by combination of such means,
will constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile, .pdf or electronic form shall be deemed to
be original signatures and shall have the same effect as manually signed originals for all purposes. 
 8.5 Governing Law; Jurisdiction
and Venue. 
 (a) This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, applicable to
contracts executed in and to be performed entirely within that State. 
 (b) All actions, claims and proceedings arising out of this
Agreement, together with the enforcement of any judgments or orders resulting from such proceedings, shall be heard and determined in any state or federal court sitting in New York City, and the parties hereby irrevocably submit to the exclusive
jurisdiction of such courts (and, in the case of appeals, appropriate appellate courts therefrom). The parties irrevocably waive the defense of an inconvenient forum to the maintenance of any such action or proceeding. Each party hereby consents to
process being served in any such action or proceeding by the delivery of a copy thereof to the addresses and set forth in Section 8.8, and each party acknowledges that such service shall constitute good and sufficient
service of process or notice thereof. The consents to jurisdiction set forth in this Section 8.5 do not constitute general consents to service of process in the State of New York and will have no effect for any purpose
except as provided in this Section 8.5. 
 (c) EACH PARTY HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY CLAIM, ACTION OR PROCEEDING BETWEEN THE PARTIES DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED
HEREBY. 
 8.6 Assignment and Successors. 

(a) The Purchaser may not assign any of its rights or delegate its obligations under this Agreement, except with the prior written consent of
the Company. The Company may not assign this Agreement except by operation of law pursuant to a merger, consolidation, or other reorganization. Any purported assignment of rights or delegation of performance or obligations in violation of this
Section 8.6 is void ab initio. 
 (b) This Agreement binds and benefits the parties and their respective
permitted successors and assigns. 
 8.7 No Third Party Beneficiaries. Nothing in this Agreement is intended to or shall confer upon
any Person other than the parties hereto any rights or remedies hereunder, whether as third beneficiaries or otherwise.  

  
 16 

 8.8 Notices. All notices, consents, waivers and other communications required or
permitted by this Agreement will be in writing and will be deemed given to a party when (a) delivered to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); or (b) sent by facsimile or e-mail with confirmation of transmission by the transmitting equipment confirmed with a copy delivered as provided in clause (a), in each case to the following addresses, facsimile numbers or e-mail addresses and marked to the attention of the Person (by name or title) designated below (or to such other address, facsimile number, e-mail address or Person as a party
may designate by notice to the other parties): 
 If to the Company: 

220 Alhambra Circle, 12th Floor 

Coral Gables, FL 33134 

Attention: Millar Wilson 
 E-mail address: mwilson@amerantbank.com 
 with copies to: 

Jones Day 
 1420 Peachtree Street,
N.E. 
 Suite 800 
 Atlanta,
Georgia 30309-3053 
 Telephone: (404) 581-8622 

Attention: Ralph F. MacDonald, III 

E-mail: cmacdonald@jonesday.com 

If to any Purchaser: 
 As provided
on such Purchaser’s signature page hereto. 
 8.9 Enforcement. The parties agree that time is of the essence in the performance
of this Agreement. If any of the provisions of this Agreement are not performed in accordance with their specific terms or were otherwise breached, the parties could not be adequately compensated by monetary damages alone. Accordingly, in addition
to any other right or remedy, including damages, to which the parties may be entitled, each party shall be entitled to enforce any provision of this Agreement by temporary or permanent restraining orders, injunctions or similar equitable relief to
prevent breaches or threatened breaches of this Agreement, without posting any bond or security, or making any other undertaking. 
 8.10
Relationship of Parties. 
 The Purchaser and the Company are acting solely in an arm’s length capacity with respect to the
Transaction Documents and the transactions contemplated thereby. The Purchaser is making its own independent investment decision to buy Purchased Shares hereby and has received or had access to all information that Purchaser believed necessary to
enter into the Transaction Documents. Neither party is acting as a financial advisor or fiduciary to the other party. No statement made by either party or any of its representatives or agents, including the Placement Agent, in connection with this
Agreement and the transactions contemplated hereby constitutes advice or a recommendation as to the purchase or sale of any security. Notwithstanding the foregoing, each party is relying on the representations and warranties of the other party. 

  
 17 

 8.11 Severability. If any term or other provision of this Agreement is determined by
a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any Law, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible to the fullest extent
permitted by applicable Law in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent practical. 

8.12 Entire Agreement. This Agreement constitutes the entire agreement and understanding between the parties to this Agreement, which
supersedes all other prior agreements and understandings, both written and oral, among or between the parties with respect to the transactions contemplated by this Agreement, except the Nondisclosure Agreement, which shall remain in full force and
effect until it expires pursuant to its terms. The provisions of this Agreement may not be explained, supplemented or qualified through evidence of trade usage or course of dealings. 

[signature page to follow] 

  
 18 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective undersigned officers. 
  

			
	MERCANTIL BANK HOLDING CORPORATION
		
	By:	 	
                     
                            

	Name:
	Title:

  
 [Company Signature Page]

							
	Price Per Purchased Share:	 		 	PURCHASER:
				
	                                      
                                         
 	 		 		 	
				
	Number of Purchased Shares:	 		 	By:	 	
                     
                            

		 		 	Name:
	                                      
                                         
 	 		 	Title:
			
	Purchase Price:	 		 	Address for purposes of Section 8.8 (Notice):
		 		 	
	                                      
                                         
 	 		 		 	
		 		 		 	
		 		 		 	

  
 [Purchaser Signature
Page]Exhibit 10.1

 

 

CONFIDENTIAL

 

VIA HAND DELIVERY

 

February 26, 2019

 

Ms. Vanessa E. Maskal

 

Re:                             Retirement Agreement and General Release

 

Dear Vanessa:

 

Consistent with our discussions concerning the terms of your retirement, this letter constitutes an agreement between you and B&G Foods, Inc. (“B&G Foods”), on behalf of itself and its subsidiaries (collectively with B&G Foods, the “Company”), setting forth all terms of your retirement from the Company.

 

By signing this letter agreement, and not revoking it, you agree as follows:

 

1.              Retirement Date.  It is understood that your last day of employment with the Company shall be April 5, 2019 (the “Retirement Date”).

 

2.              Treatment Under Employment Agreement and Long-Term Incentive Agreements.  Your retirement from the Company shall be treated (i) as a termination without cause pursuant to Section 7 of the Amended and Restated Employment Agreement by and between you and B&G Foods, dated as of December 31, 2018 (the “Employment Agreement”), and (ii) as a retirement pursuant to your currently outstanding performance share long-term incentive award agreements and stock option agreements, except that for purposes of your stock option agreements, the vested portion of options, including any portion that vests as a result of your retirement pursuant to the terms of the stock option agreements, shall remain exercisable until the earlier of (A) the end of the three-year period immediately following your Retirement Date and (B) the current expiration date of such options.

 

3.              Severance and Other Benefits.  In accordance with Section 7 of the Employment Agreement and in consideration of the general release and waiver of all claims against the Company and the other Releasees (as defined below) and your other promises made in this letter agreement, and conditioned on your not revoking this letter agreement as described in paragraph 22 below, the Company shall provide you with the following severance payments and other benefits:

 

A.            The Company shall pay you salary continuation payments equal in the aggregate to $735,683.20 (less any state, federal, FICA and other applicable taxes and, as set forth below in subsection B, less the amount of medical and dental insurance contributions), which reflects payment of 160% of your annual base salary for an additional one year following the Retirement Date (the “Severance Period”).  Such payments shall be paid in the same manner and pursuant to the same payroll procedures that were in effect prior to the Retirement Date and shall commence no later than the Company’s next regular pay day that is at least seven

 

Quality Foods Since 1889

 

 

(7) days after the date on which this letter agreement becomes effective in accordance with paragraph 22 below (the “Initial Payment Date”).

 

B.            The Company shall continue your current medical and dental coverage for the duration of the Severance Period.  Your contributions will be the same as those of a currently active participant and will automatically be withheld on a pre-tax basis from your salary continuation payments set forth in subsection A above.  At the end of the Severance Period you will be eligible to continue your coverage pursuant to COBRA for up to an additional eighteen months at your sole expense, subject to the terms and conditions of the Company’s medical and dental benefit plans and COBRA rules and provisions.

 

C.            The Company shall pay you on the Initial Payment Date a lump sum payment of $10,000.00 (less any state, federal, FICA and other applicable taxes), which amount reflects the estimated market value of your life insurance and disability insurance benefits for the duration of the Severance Period that will not be available to you because of your status as a terminated employee.

 

D.            The Company shall provide you with one additional year of service under the Company’s qualified pension plan during the Severance Period.

 

4.              Vacation Pay.  You understand and agree that your vacation accrual will cease as of the Retirement Date.  You will be paid for any unused vacation pay for 2019 earned and accrued from January 1, 2019 through the Retirement Date (less any state, federal, FICA and other applicable taxes) in accordance with the Company’s existing paid time off policies and practices and applicable law.

 

5.              No Admission of Liability.  You understand and agree that the severance and other benefits to be provided to you pursuant to the terms of this letter agreement are not and shall not be construed or represented to be an admission of liability of any kind by the Company.

 

6.              Termination of Certain Other Benefits.

 

A.            Life Insurance.  You understand and agree that your participation in any life insurance plan maintained by the Company will automatically terminate on the Retirement Date.  Subject to the terms and conditions of the Company’s life insurance plan and applicable law, you may convert your life insurance to an individual policy by notifying the life insurance carrier not later than thirty-one (31) days after your life insurance ends.

 

B.            Accidental Death and Dismemberment Insurance.  You understand and agree that your participation in the Company’s accidental death and dismemberment insurance plan will automatically terminate on the Retirement Date.  The accidental death and dismemberment insurance policy does not include a conversion option.

 

C.            Short-Term and Long-Term Disability Insurance.  You understand and agree that your participation in the Company’s short-term and long-term disability plans automatically terminates on the Retirement Date.  The short-term and long-term disability insurance plans do not include a conversion option.

 

2

 

D.            Other Benefits.  You understand and agree that all other benefits that you may currently receive, including, without limitation, your automobile allowance and company paid cell phone or cell phone allowance, if any, will also terminate on the Retirement Date.

 

E.             401(k) Defined Contribution Plan and Defined Benefit Pension Plan.  The Company will separately forward to you a letter with further details regarding your options with respect to the Company’s 401(k) plan and defined benefit pension plan following your retirement from the Company.

 

7.              General Release and Waiver.  In exchange for the severance and other benefits described in paragraph 3 above, and for other good and valuable consideration, you, on behalf of yourself and your family, heirs, executors, successors and assigns, hereby irrevocably and unconditionally release and forever discharge the Company and its past, present and future affiliates, parents, subsidiaries and divisions and the Company’s and each of the foregoing person’s or entity’s respective shareholders, directors, officers, employees, agents, employee benefit plans (and the administrators and fiduciaries thereof) and representatives (collectively with the Company, the “Releasees”), and agree to hold the Releasees harmless from and against, and hereby waive, any and all claims, causes of action, charges or demands, in law or in equity, whether known or unknown, which may have existed or which may now exist from the beginning of time to the date on which you sign this letter agreement.  This release includes, without limitation, all claims, causes of action, charges or demands arising from or relating to your employment with, or separation from employment with, the Company or otherwise, other than claims that the law does not permit you to waive by signing this letter agreement.

 

Without limiting the generality of the foregoing, this release includes a release of any rights or claims you may have under any and all federal, state or local statutes, including, without limitation, the following:

 

A.            Title VII of the Civil Rights Act of 1964, as amended, and the Civil Rights Act of 1991, as amended;

 

B.            the Americans with Disabilities Act of 1990, as amended, and the Rehabilitation Act of 1973, as amended;

 

C.            the Family and Medical Leave Act of 1993, as amended;

 

D.            Section 1981 of the Civil Rights Act of 1866, as amended;

 

E.             Section 1985(3) of the Civil Rights Act of 1871, as amended;

 

F.              the Age Discrimination in Employment Act of 1967 (the “ADEA”), as amended, and the Older Workers Benefit Protection Act of 1990, as amended;

 

G.            the Occupational Safety and Health Act, as amended;

 

H.           the Equal Pay Act, as amended;

 

I.                the Employee Retirement Income Security Act of 1974, as amended;

 

3

 

J.                the New Jersey Conscientious Employee Protection Act, as amended; and

 

K.            any and all other federal, state or local laws and regulations against discrimination, including but not limited to the laws and regulations of the State of New Jersey and the New Jersey Department of Labor and Workforce Development; and any other federal, state, or local law, regulation or common law relating to employment, wages, hours, or any other terms and conditions of employment.

 

This release includes a release by you of any claims for wrongful discharge, breach of contract, torts or any other claim in any way related to your employment with or retirement from the Company, including, without limitation, any claim under any policy, agreement, understanding or promise, written or oral, formal or informal, between the Company and yourself, and including any claims for wages, monetary or equitable relief, damages of any nature and attorneys’ fees.

 

Notwithstanding the above, nothing in this release shall be construed to waive (i) your rights to the payments and benefits expressly provided for in this letter agreement; (ii) any claims you may have to the payment of vested benefits under the terms of the Company’s retirement and benefit plans and your individual performance share long-term incentive award agreements and stock option agreements; or (iii) any rights to reimbursement or indemnification you may have in your capacity as an officer or employee of the Company under the governing documents of the Company, any insurance policy or applicable law for any of your acts (or failures to act) made in good faith while you were employed by the Company.

 

8.              Workers Compensation.  You represent that no incident has occurred that could form the basis for any claim by you against the Company or any other Releasee under the worker’s compensation laws of any jurisdiction.

 

9.              No Complaints, Claims or Actions.  You represent that you have not filed any complaints, claims or actions against the Company or any other Releasee with any federal, state or local agency or court.

 

10.       No Assignment or Reservation of Claims.  You hereby represent that you have not assigned or transferred to any person or entity all or any portion of any claim against the Company or any other Releasee, and you do not reserve any claim against the Company or any other Releasee from the effect of this letter agreement.

 

11.       Restrictive Covenants.

 

A.            Non-Disturbance; Non-Disparagement.  You understand and agree that you shall not perform any act that is intended, or may reasonably be expected to, disrupt, damage, impair, or interfere with the business, reputation, prospects or operations of the Company or any other Releasee, or their respective relationships with their respective employees, customers, vendors, agents or representatives.  You further agree that you shall not issue or make or cause to be issued or made any communication, written or oral, that disparages, criticizes or otherwise reflects adversely upon, or encourages any adverse action against, the Company or any of the other Releasees, except as required by law.  Notwithstanding the foregoing, nothing in this letter agreement shall prohibit you from providing truthful testimony or information in connection with any governmental proceeding, including but not limited to

 

4

 

any investigation by the Equal Employment Opportunity Commission or similar state or local agency, or in response to a lawful subpoena or other legal process.

 

B.            Confidentiality.  You shall comply with the confidentiality agreements set forth in Section 11 of the Employment Agreement.  Notwithstanding the foregoing, nothing in this letter agreement or the Employment Agreement shall prohibit you from making any disclosure that is required by a lawful order of a court of competent jurisdiction, any governmental authority or agency, or any recognized subpoena power, or in connection with reporting possible violations of federal law or regulation to any governmental agency or entity, or making other disclosures that are protected under the whistleblower provisions of applicable law or regulation.  Notwithstanding anything to the contrary herein, in accordance with the Defend Trade Secrets Act of 2016, you shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

 

C.            Non-Solicitation.  You understand and agree that the Company has expended and continues to expend significant time and expense in recruiting and training its employees and that the loss of employees would cause significant and irreparable harm to the Company.  You shall not directly or indirectly solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company during the Severance Period.

 

12.       Breach of Agreement.  You understand and agree that the general release and wavier set forth in Section 7 and the restrictive covenants set forth in Section 11 of this this letter agreement are essential consideration for this letter agreement and an award of damages may be made for violation thereof.  Any such award shall not affect the enforceability of the general release of all claims made by you.  Consistent with and without limiting the foregoing, you acknowledge and agree that your severance and other benefits shall be subject to forfeiture and repayment to the Company if you violate paragraphs 7, 11 or 14 or any of the other terms of this letter agreement, or any other surviving obligation owed to the Company, without prejudice to any additional relief that may be available to the Company and without effecting the validity and enforceability of the general release of all claims made by you.  Notwithstanding the foregoing sentence, your severance and other benefits shall not be subject to forfeiture solely due to a challenge to the validity of the release contained in this agreement pursuant to the ADEA.  In addition, in the event of a breach or threatened breach by you of any of the provisions of this letter agreement, you hereby consent and agree that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.

 

13.       Attorneys’ Fees.  Should you breach or threaten to breach any of the terms of this letter agreement or the post-termination obligations set forth herein, to the extent authorized by New Jersey law, you shall be responsible for payment of all reasonable attorneys’ fees and costs that the Company incurs in the course of enforcing the terms of the letter agreement, including

 

5

 

demonstrating the existence of a breach or threatened breach and any other contract enforcement efforts.

 

14.       Covenant Not to Sue.  You agree that you will not file any complaint, claim or action asserting any claim waived in paragraph 7 of this letter agreement, and that if you breach this promise, and the action is found to be barred in whole or in part by this letter agreement,  you shall be liable for all costs, including attorneys’ fees, incurred by the Company or any other Releasee in defending the claim, and shall assign to the Company and any such other Releasee your right and interest to collect any monetary damages awarded to you.  Notwithstanding the foregoing, nothing in this paragraph precludes you from challenging the validity of the release above under the requirements of the ADEA, and you shall not be responsible for reimbursing the attorneys’ fees and costs of the Releasees in connection with such a challenge to the validity of the release.  However, you acknowledge that the release contained in this letter agreement applies to all claims you have under the ADEA, and that, unless the release is held to be invalid, all of your claims under the ADEA shall be extinguished.  Further, nothing in this letter agreement shall preclude or prevent you from filing a charge with, participating in an investigation by or proceeding before, or providing truthful information to the United States Equal Employment Opportunity Commission or a similar state or local agency, but you acknowledge and agree that you shall not be entitled to or accept any relief obtained on your behalf in any proceeding by any government agency, private party, class, or otherwise with respect to any claims covered by the above release.

 

15.       Return of Company Property.  You agree to promptly return to the Company any and all Company documents, materials, records, equipment and other property issued to you or otherwise in your possession or control, as a condition for receipt of the severance and other benefits.  In addition, you agree to promptly reconcile any outstanding expense accounts.

 

16.       Governing Law.  This letter agreement and any claim, controversy or dispute arising under or related to this letter agreement, the relationship of the parties or the interpretation and enforcement of the rights and duties of the parties to this letter agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without reference to the conflicts of laws principles thereof.

 

17.       Entire Agreement.  This letter agreement and the Employment Agreement shall constitute the sole and exclusive understanding between the Company and you concerning the subject matter of this letter agreement, and expressly supersedes any and all prior agreements or understandings, written or oral, concerning the subject matter hereof.  The parties acknowledge that this letter agreement is intended to embody a complete and final resolution of the employer-employee relationship.  You further acknowledge and agree that the payments and benefits described in this letter agreement are all that you are entitled to receive from the Company (other than the payment of any shares of the Company’s common stock that you may earn pursuant to and subject to the terms and conditions of your 2016 to 2018 Performance Share Award Agreement, 2017 to 2019 Performance Share Award Agreement and 2018 to 2020 Performance Share Award Agreement), and that the Company shall have no liability or obligation to you in excess of such amounts (other than the payment of any shares of the Company’s common stock that you may earn pursuant to and subject to the terms and conditions of your 2016 to 2018 Performance Share Award Agreement, 2017 to 2019 Performance Share Award Agreement and 2018 to 2020 Performance Share Award Agreement).

 

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18.       Severability.          If any provision of this letter agreement is held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this letter agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of this letter agreement, the balance of which shall continue to be binding upon the parties with any such modification to become a part hereof and treated as though originally set forth in this letter agreement.  The parties further agree that any such court is expressly authorized to modify any such unenforceable provision of this letter agreement in lieu of severing such unenforceable provision from this letter agreement in its entirety, whether by rewriting the offending provision, deleting any or all of the offending provision, adding additional language to this letter agreement or by making such other modifications as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted by law.  The Parties expressly agree that this letter agreement as so modified by the court shall be binding upon and enforceable against each of them. In any event, should one or more of the provisions of this letter agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision or provisions are not modified as provided above, this letter agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein.

 

19.       No Amendments.  This letter agreement may not be amended, supplemented or otherwise modified, except as mutually agreed in writing by B&G Foods and you.

 

20.       Successors and Assigns.  The Company may freely assign this letter agreement at any time.  This letter agreement shall inure to the benefit of the Company and its successors and assigns.  You may not assign this letter agreement or any part hereof.  Any purported assignment by you shall be null and void from the initial date of purported assignment.

 

21.       Adequate Review.  You are hereby advised to consult with an attorney before signing this letter agreement.  You acknowledge that you have read and fully understand the terms and conditions of this letter agreement.  You further acknowledge that you have entered into this letter agreement voluntarily and not as the result of coercion, duress or undue influence.  Additionally, you acknowledge that you have been afforded the opportunity of at least twenty-one (21) days to consider this letter agreement.  Modifications to this letter agreement, whether material or non-material, do not restart the aforementioned period.

 

22.       Revocation.  You understand that you will have seven (7) days from the date you sign this letter agreement to revoke it by notifying the Company’s Human Resources Department of your decision.  This letter agreement shall not become effective or enforceable until the revocation period has expired.  No revocation of this letter agreement by you shall be effective unless the Company has received written notice of any revocation within the 7-day revocation period.

 

[Signature Page Follows]

 

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If you agree with the foregoing, please so indicate by signing in the space designated below.

 

	
Sincerely,
    	
 
    
	
 
    	
 
    
	
/s/   Eric H. Hart
    	
 
    
	
 
    	
 
    
	
Eric   H. Hart
    	
 
    
	
Executive Vice President of Human Resources and   Chief Human Resources Officer
    
	
 
    	
 
    
	
Agreed to and accepted:
    	
 
    
	
 
    	
 
    
	
/s/   Vanessa E. Maskal
    	
 
    
	
Vanessa   E. Maskal
    	
 
    
	
 
    	
 
    
	
Date:
    	
February 26,   2019
    	
 
    
			

 

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