SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 9, 2009
MERIDIAN INTERSTATE BANCORP, INC.
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(Exact Name of Registrant as Specified in Charter)
Massachusetts 001-33898 20-4652200
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(State or Other Jurisdiction) (Commission File No.) (I.R.S.Employer
of Incorporation) Identification No.)
10 Meridian Street, East Boston, Massachusetts 02128
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (617) 567-1500
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Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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Meridian Interstate Bancorp, Inc. (the "Company") reports that Gregory
Derderian, Treasurer and Chief Financial Officer of the Company and East Boston
Savings Bank (the "Bank"), a subsidiary of the Company, will resign and retire
effective December 31, 2009.
The Company reports that Mark L. Abbate has been appointed as the new Senior
Vice President, Treasurer and Chief Financial Officer of the Company and Bank.
Mr. Abbate is expected to commence his duties on January 4, 2010.
Mr. Abbate, age 54, has 30 years of significant experience in the banking
business. Prior to joining the Company and the Bank, Mr. Abbate served as
Executive Vice President and Chief Financial Officer of Srata Bank in Franklin,
Massachusetts from 2007 until Strata's merger into Middlesex Savings Bank in
July 2009.
For more information regarding Mr. Abbate's appointment, please see the press
release dated December 15, 2009, attached as Exhibit 99.1 to this Current
Report.
In connection with the appointment, the Bank has entered into a change in
control agreement (the "Agreement") with Mr. Abbate. 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. Abbate 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. Abbate 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.
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(a) Not Applicable.
(b) Not Applicable.
(c) Not Applicable.
(d) Exhibits.
Exhibit No. Exhibit
99.1 Press release dated December 15, 2009
10.1 Change in Control Agreement between East
Boston Savings Bank and Mark L. Abbate,
dated January 4, 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
MERIDIAN INTERSTATE BANCORP, INC.
DATE: December 14, 2009 By:/s/ Richard J. Gavegnano
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Richard J. Gavegnano
Chairman of the Board and
Chief Executive Officer