Customers Bancorp Amends CFO Mark McCollom Deal, Adding 12-Month Non-Compete
Updated
Updated · TradingView · Jul 24
Customers Bancorp Amends CFO Mark McCollom Deal, Adding 12-Month Non-Compete
2 articles · Updated · TradingView · Jul 24
Summary
July 24 amendments to Mark R. McCollom’s employment agreement changed the Customers Bancorp CFO’s term, notice period, severance terms and restrictive covenants.
The revised deal keeps substantially all prior material terms but alters the term-extension mechanics, requires a release for severance, and adjusts benefits continuation during any severance period.
Customers Bancorp also added a 12-month non-compete and a new restricted-area concept, expanding post-employment limits on the executive.
The bank did not disclose a reason for the amendment or any related board or committee role changes in the 8-K filing.