Brookline Bancorp Inc. Announces Retention Bonus Agreement for Chief Credit Officer Amid Merger with Berkshire Hills Bancorp
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Brookline Bancorp Inc. has announced a retention bonus agreement for its Chief Credit Officer, Mark J. Meiklejohn, in relation to its merger with Berkshire Hills Bancorp. The agreement, effective upon merger closing, provides a cash bonus of $720,750, payable in three installments over three years, contingent on continued employment. If terminated without cause or if he resigns for good reason, unpaid bonuses will be accelerated and paid within 60 days, adjusted for severance payments.
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