Associated’s Binder resigns, will be paid $1.6 million
Green Bay-based Associated Banc-Corp announced Friday that Lisa Binder has resigned from her position as president and chief operating officer of Associated Bank and its holding company.
According to documents filed with the SEC, Binder has agreed to a one year non-compete and non-solicitation agreements, as well as three year non-disclosure and non-disparagement covenants. Under terms of her severance package, Binder will be paid $1.65 million in monthly payments beginning May 29 and ending March 15, 2010.
"I have significant respect for my colleagues at Associated Banc-Corp. I appreciate their hard work and support and wish them continued success. I look forward to the next chapter in my career," Binder said.
Chairman and CEO Paul S. Beideman said, "In the nearly two and half years that Lisa has served as our president and COO, she has made important contributions and accomplished a number of very significant initiatives for us. We wish Lisa and her family well."
