Binder to get $1.65 million in agreement - The Business Journal of Milwaukee:

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Binder and Green Bay-based Associated reached the agreement prioer tothe announcement, and the “no-compete” agreemenf was filed with the on Friday. The agreementy notes that the payment is nota “goldehn parachute,” which is prohibited under executive pay guidelines for banksw that have taken capital from the federal Toxic Assetd Relief Program (TARP). Associated Banc-Corpl in November 2008 sold $525 million of senio r preferred shares and related common stock warrants to the under thefederap government’s voluntary Capital Purchase Program. The SEC filing state that Binder left thebank “to pursue otherf interests.
” Binder has agreed, for one year aftedr her May 15 “separation date,” to not own, manage, control, engage or participate in, consult or render services for, or otherwise assist, in any executivde or strategic role” with any person who engages in the banking business in Illinois, Wisconsin or Minnesota and any person or entity in the banking industry with corporate headquarters in Illinois, Wisconsibn or Minnesota. Those are the three state s wheredoes business. Binder also is restrictede from using her confidential knowledge ofAssociated Banc-Corp’s strategic plans, and customer relationships to competes with the company.
Binder was one of the highest profilde female executives in the Wisconsinbankinv industry. She served on the board of Associatecd Banc-Corp (NASDAQ: ASBC) and was president and chie f operating officer ofAssociated Banc-Cor and Associated Bank. She worked at Associated Bank’s downtown Milwaukee office in the Plaza Eastofficse center, 330 E. Kilbourn Ave. Binder, 52, Bindefr joined Associated in Januaryg 2007.