Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 66

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 66
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Payments Made Upon Termination of Employment.The following chart summarizes the total benefits payable to the named executive officers upon a termination of employment,
assuming that the termination occurred on December 31, 2024 and based on a closing price of $51.18 per share of our common stock
on December 31, 2024:

| Name                 |     | Termination     
 Without “Cause” |           |     | Termination for 
 “Good Reason”   |           |     | Termination After a 
 Change in Control   |           |
|:---------------------|:----|:----------------|----------:|:----|:----------------|----------:|:----|:--------------------|----------:|
| Craig W. Best        |     | $               | 4,007,721 |     | $               | 4,007,721 |     | $                   | 4,007,721 |
| Thomas P. Tulaney    |     | $               | 2,742,201 |     | $               | 2,742,201 |     | $                   | 3,255,872 |
| Neal D. Koplin       |     | $               |   943,395 |     |                 |         – |     | $                   | 1,709,522 |
| Timothy H. Kirtley   |     | $               |   460,242 |     | $               |   369,372 |     | $                   | 1,132,077 |
| John R. Anderson III |     | $               |   503,017 |     | $               |   376,447 |     | $                   | 1,194,506 |

Payments Made Upon Termination for Cause. Under the employment agreements with Mr. Tulaney, Mr. Koplin and Mr. Kirtley, we may terminate their
employment for cause (as defined in the agreement) at any time. Mr. Best’s employment agreement included similar provisions.
Mr. Anderson is an at-will employee without an employment agreement, although he does have severance agreement (which is described
above) that would apply in certain circumstances other than a for cause termination by the Company. If any of the named executive officers
is terminated for cause, he will receive only accrued compensation and vested benefits through his termination date.

Payments Made Upon Termination Without Cause or For Good Reason. Craig W. Best – Mr. Best entered into his Separation Agreement on October 25,