Hanover Bancorp, Inc. /MD — Form 10-Q

Hanover Bancorp amended and restated employment and change-of-control agreements for five executives effective July 1–31, 2026: Michael P. Locorriere (Senior EVP, Chief Municipal Officer; base salary $370,000/year, 2× severance multiple on change of control); Kevin Corbett (Chief Credit Officer; 1× severance multiple, 24 months COBRA); Joseph Burns (Chief Lending Officer; 1× severance multiple, 12 months COBRA); John Vivona (Chief Risk Officer; 1× severance multiple, 12 months COBRA); and Lisa Diiorio (Chief Accounting Officer; 1× severance multiple, 24 months COBRA). All agreements include 1-year non-solicitation and confidentiality covenants, clawback rights, and Section 409A compliance provisions. Locorriere's agreement is unique with 3-year term auto-renewing annually, while others are at-will with 1-year rolling terms.