Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 70

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 70
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 Anderson would have received $12,657 per year, payable in monthly
installments for ten years, under his SERP.

Payments Made Upon Disability or Death. The employment agreements with Messrs. Tulaney, Koplin and Kirtley provide that, upon termination due to the executive’s
death or disability, he will receive only accrued compensation and vested benefits through his termination date. Likewise, upon a termination
due to Mr. Anderson’s death or disability, he will receive only accrued compensation and vested benefits through his termination
date. Payments to Mr. Best are governed by his Separation Agreement.

If Mr. Tulaney’s
employment terminated December 31, 2024 due to his death or disability, under his SERP he would be entitled to receive $114,600 per
year, payable in monthly installments for twenty years. In addition, he would have received accelerated vesting of $21,700 or $60,137
in restricted stock, if terminated due to death or disability, respectively, and accelerated vesting of $45,755 in RSUs if terminated
due to death. If terminated due to death at December 31, 2024, Mr. Tulaney’s estate would have been entitled to $100,000
in life insurance benefits under a BOLI split-dollar arrangement, in addition to any benefit under the group life insurance plan maintained
for employees generally.

If Mr. Koplin’s
employment terminated December 31, 2024 due to his death or disability, under his SERP he would be entitled to receive, respectively,
$62,000 per year or $43,173 per year, in either case payable in monthly installments for fifteen years. In addition, he would have received
accelerated vesting of $19,295 or $53,227 in restricted stock, if terminated due to death or disability, respectively, and accelerated
vesting of $40,381 in RSUs if terminated due to death.

If Mr. Kirtley’s
employment terminated December 31, 2024 due to his death or disability, under his SERP he would be entitled to receive, respectively,
$50,000 per year or $9,087 per year, in either case payable in monthly installments for ten years. If Mr. Kirtley’s employment
terminated December 31, 2024 he would have received accelerated vesting of $16,889 or $46,881 in restricted stock, if terminated
due to death or