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EBSB > SEC Filings for EBSB > Form 8-K on 18-Dec-2013All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statements a

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

East Boston Savings Bank, a wholly-owned subsidiary of Meridian Interstate Bancorp, Inc., has entered into a change in control agreement (the "Agreement") with Mr. John Migliozzi, Executive Vice President. The Agreement has an initial term of twenty-four (24) months and renews daily unless written notice of non-renewal is provided to the executive. The Agreement provides that upon the occurrence of a "change in control" (as defined in the Agreement) followed by the executive's involuntary termination of employment without "cause" (as defined in the Agreement) or the executive's voluntary termination of employment for "good reason" (as defined in the Agreement), the Bank will pay Mr. Migliozzi a lump sum amount equal to the sum of two (2) times his base salary and the highest cash incentive compensation earned by the executive in any one of the three calendar years immediately preceding the year of termination and the Bank will provide Mr. Migliozzi with continued medical and dental insurance coverage for two (2) years, with the executive paying his share of employee premiums.

The foregoing description of the Agreement is qualified in its entirety by reference to the Agreement that is attached hereto as Exhibit 10.1 of this Current Report, and is incorporated by reference into this Item 5.02.

Item 9.01. Financial Statements and Exhibits.

(a) Not Applicable.

(b) Not Applicable.

(c) Not Applicable.

(d) Exhibits.

Exhibit No.                                   Exhibit

Exhibit 10.1    Change in Control Agreement between East Boston Savings Bank and
                John Migliozzi, dated December 17, 2013.

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