SEC Contract Filing

Filing Date: 2020-03-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.22
<SEQUENCE>4
<FILENAME>ex-10d22.htm
<DESCRIPTION>EX-10.22
<TEXT>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">Exhibit&nbsp;10.22</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;text-decoration:underline;">AMENDED AND RESTATED NON-COMPETE AGREEMENT</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">THIS AMENDED AND RESTATED NON-COMPETE AGREEMENT (&#x201C;Agreement&#x201D;) is made and entered into as of the 31</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:5pt;top:-4pt;position:relative;line-height:100%">st </font><font style="display:inline;font-family:Times New Roman,Times,serif;">day of December, 2019, &nbsp;by and among Eagle Bancorp. Inc., a Maryland corporation (&#x201C;Bancorp&#x201D;), EagleBank, a Maryland chartered commercial bank and the wholly owned subsidiary of Bancorp (the &#x201C;Bank&#x201D;), and Norman R. Pozez (&#x201C;Pozez&#x201D;).</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, the Bank, Bancorp and Pozez have entered into an amended and restated Chairman Compensation Agreement of even date herewith (the &#x201C;Chairman Agreement&#x201D;) memorializing Pozez&#x2019;s continued service as the Chairman of the Board of Directors of&nbsp;&nbsp;Bancorp and the Bank;</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, &nbsp;the parties previously entered into a supplemental agreement regarding certain rights, benefits and obligations in the event that the Chairman Agreement is terminated following a Change in Control in accordance with the terms of the Chairman Agreement; and</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, the parties desire to amend and restate such supplemental agreement as set forth herein.</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;text-decoration:underline;">Chairman Agreement</font><font style="display:inline;font-family:Times New Roman,Times,serif;">.&nbsp;&nbsp;Pozez acknowledges and agrees that this Agreement supplements the Chairman Agreement, which contains provisions that are independent of this Agreement. and that the parties&#x2019; rights and obligations under the Chairman Agreement are not modified or impaired by this Agreement, except to the extent expressly set forth herein.&nbsp;&nbsp;The obligations of the Bank Entities under this Agreement, including the obligation to pay the compensation provided for in this Agreement, are contingent upon Pozez&#x2019;s performance of Pozez&#x2019;s obligations under this Agreement. All capitalized terms used but not defined herein shall have the meanings assigned to them in the Chairman Agreement.</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;text-decoration:underline;">Certain Definitions</font><font style="display:inline;font-family:Times New Roman,Times,serif;">.&nbsp;&nbsp;As used in this Agreement, the following terms have the meanings set forth below:</font>
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 <font style="display:inline;font-family:Times New Roman,Times,serif;">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#x201C;Affiliate&#x201D; means, with respect to any Person, (i) any Person directly or indirectly controlling, controlled by or under