Bancorp says commercial lending head Jeffrey Nager gets $2.5 million severance payout

• The Bancorp disclosed separation terms for commercial lending head Jeffrey Nager, updating an earlier restructuring-related departure notice.
• Severance agreement signed Oct. 2 becomes effective Oct. 10 unless revoked.
• Provides a USD 2.5 million lump-sum payment within 30 days of the effective date, net of taxes and withholdings.
• Includes up to six months of outplacement services.
• Contains customary release, non-disparagement, non-solicitation, and confidentiality provisions.

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