SEC Contract Filing

Filing Date: 2021-06-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1_8k062821.htm
<DESCRIPTION>FORM OF AMENDMENT TO EMPLOYMENT AGREEMENT ENTERED INTO WITH KEVIN M. O'CONNOR, STUART H. LUBOW, AVINASH REDDY AND CONRAD J. GUNTHER
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 <div style="text-align: right;"><font style="font-weight: bold;">EXHIBIT 10.1</font><br>
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 <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">FORM OF AMENDMENT TO</div>
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 <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">EMPLOYMENT AGREEMENT</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Amendment, dated as of June 28, 2021 (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Amendment</font>&#8221;), to the Employment Agreement, dated as of ___________&#160; ___, 2020 (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Agreement</font>&#8221;), by and between Dime Community
 Bancshares, Inc., a New York corporation (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Company</font>&#8221;)<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">, Dime
 Community Bank, a New York chartered trust company and a wholly owned subsidiary of the Company (the &#8220;</font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Bank</font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">&#8221;), and</font> _____________________________ (&#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Executive</font>&#8221;).&#160; Capitalized terms which are not
 defined herein shall have the same meaning as set forth in the Agreement.</div>
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 <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">W I T N E S S E T H:</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">WHEREAS, </font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">Section 7(c)(iv) of the Agreement provides that </font>if a Change in Control occurs within twenty-four (24) months after the Effective Date, the payments in Section 7(c) shall be reduced (but
 not below zero) by the value (determined as of the date of vesting) of any portion of the One-Time Equity Grant specified under Section 3(C) of the Retention and Award Agreement between the Executive and the Company, dated as of _______ __, ____,
 that vests as a result of such Change in Control; and</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">WHEREAS, </font>the Company, Bank and
 Executive have agreed to amend the Agreement to delete Section 7(c)(iv).</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NOW, THEREFORE,</font> in consideration
 of the premises, the mutual agreements herein set forth and such other consideration the sufficiency of which is hereby acknowledged, the Company, Bank and Executive hereby agree as follows:</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Section 1.&#160; Section 7(c)(iv) of the Agreement is deleted in its entirety.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Section 2. <font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Effectiveness</u></font>.&#160; This Amendment
 shall be deemed effective as of the date first above written, as if executed on such date.&#160; Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms,
 conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">&#160;Section 3.&#160;&#160;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Governing Law</u></font>.&#160; This Amendment
 and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of New York.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Section 4.&#160;&#160;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Counterparts</u></font>.&#160; This Amendment may
 be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrume