Document:

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Exhibit 10.2 
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DATED 13th August 2021
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(1) MEPC MILTON PARK NO.1 LIMITED AND MEPC MILTON PARK NO.2 LIMITED
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and
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(2) ADAPTIMMUNE LIMITED
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and
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(3) ADAPTIMMUNE THERAPEUTICS PLC
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deed of variation
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relating to a lease of
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60 Jubilee Avenue
Milton Park 
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Knights plc
Midland House
West Way
Botley
Oxford
OX2 0PH                                                                                                                      

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PARTICULARS
	DATE
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	13th August 2021

	LANDLORD
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:
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	MEPC MILTON PARK NO. 1 LIMITED (Company number 5491670) and MEPC MILTON PARK NO. 2 LIMITED (Company number 5491806), on behalf of MEPC Milton LP (LP No. 014504), both of whose registered offices are at Sixth Floor, 150 Cheapside, London EC2V 6ET

	TENANT
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	ADAPTIMMUNE LIMITED (Company number 6456741) whose registered office is at 60 Jubilee Avenue, Milton Park, Abingdon, Oxfordshire, England OX14 4RX 

	GUARANTOR
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	ADAPTIMMUNE THERAPEUTICS PLC (Company number 9338148) whose registered office is at 60 Jubilee Avenue, Milton Park, Abingdon, Oxfordshire, England OX14 4RX

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BACKGROUND
	(A)
	This Deed is supplemental to the Lease;

	(B)
	The Landlord, the Tenant and the Guarantor have agreed that the Lease shall be varied as set out in this Deed and that the obligations of the Guarantor in relation to the Lease shall also be varied as set out in this Deed.

The parties agree as follows:
	1	definitions

	1.1	In this Deed, unless the context requires otherwise, the following definitions shall apply:

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Guarantor
Landlord
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Adaptimmune Therapeutics plc;
includes successors in title to the freehold estate in the Property; 

	Lease
	a lease of the Property dated 24 October 2016 made between (1) MEPC Milton Park No. 1 Limited and MEPC Milton Park No. 2 Limited (2) Adaptimmune Limited and (3) Adaptimmune Therapeutics PLC and all documents supplemental thereto; 

	Property
	60 Jubilee Avenue, Milton Park, Abingdon, Oxfordshire, OX14 4RX as more particularly defined in the Lease; and 

	Tenant
	includes successors in title to the term created by the Lease.

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	1.2	The Particulars are incorporated in and form part of this Deed so that in this Deed the words and expressions set out in the Particulars shall have the meanings ascribed to them in the Particulars.

	1.3	Expressions defined in the Lease shall (save where the context requires otherwise) have the same meanings as in this Deed.

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	1.4	The provisions of the Lease relating to its interpretation apply to this Deed except to the extent that they are expressly varied by this Deed.

	2	variation

In consideration of the sum of one pound (£1) paid by the Tenant to the Landlord (receipt of which the Landlord acknowledges) it is mutually agreed and declared that with effect from the date of this Deed the Lease shall be varied in accordance with the provisions set out in the Schedule.
	3	continuing effect

	3.1	The Lease shall continue in full force and effect save as modified by this Deed and the covenants, conditions, stipulations and provisions of the Lease shall have effect as though the provisions contained in the Schedule had been incorporated in the Lease from and including the date of this Deed;

	3.2	The Guarantor’s obligations shall continue in full force and effect save as modified by this Deed and shall have effect as though the provisions contained in Schedule 2 had been incorporated in the Lease from and including the date of this Deed.

	4	exclusion of contracts (rights of third parties) act 1999

A person who is not a party to this Deed shall not have any right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Deed.
	5	SUCCESSORS 

This Deed binds the respective successors in title of the Landlord and the Tenant.
	6	GOVERNING LAW

This Deed and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England.
	7	JURISDICTION 

Each party irrevocably agrees that the courts of England shall have non-exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this Deed or its subject matter or formation (including non-contractual disputes or claims).
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Executed by the parties as a Deed on the date stated at the beginning of this document
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SCHEDULE 
Agreed Variations to the Lease
		1.	In Clause 1 the definitions Bank Guarantee and Release Tests shall be deleted;

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		2.	In Clause 1 the definitions Break Date 1 and Break Date 2 shall be deemed to read as follows:

“Break Date 1 means 24 October 2031;
Break Date 2 means 24 October 2036;”
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		3.	In Clause 1 the definition Break Date 3 shall be deleted;

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		4.	In Clause 1 the definition Review Dates shall be deemed to read as follows:

“Review Dates means 24 October 2026 and 24 October 2036;”
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		5.	In Clause 1 the following definition shall be inserted:

“Indexation Review Dates means 24 October 2021 and 24 October 2031;”
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		6.	Clause 4.26 Bank Guarantee shall be deleted;

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		7.	Clause 8.1 shall be deemed to read as follows:

“The Tenant may terminate the Contractual Term on Break Date 1 or Break Date 2 by giving to the Landlord not less than twelve (12) months’ previous notice in writing;”
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		8.	The Second Schedule shall be deemed to read as follows:

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“The Second Schedule
Part I – Indexation Rent Review

	1	In this Part of this Schedule:

	1.1	Indexation Review Date means each of the Indexation Review Dates and Relevant Indexation Review Date shall be interpreted accordingly;

	1.2	Current Rent means the Principal Rent payable under this lease immediately before the Relevant Indexation Review Date; 

	1.3	Index means the Consumer Prices Index published by the Office for National Statistics or (if not available) such index of comparative prices as the Landlord shall reasonably require;

	1.4	Indexed Rent means:

Current Rent multiplied by (A/B) per annum where:
A = The figure shown in the Index for the month immediately before the Relevant Indexation Review Date; and
 B = (In the case of the first Indexation Review Date) the figure shown in the Index for September 2016 and (in the case of the subsequent Indexation Review Date) the figure shown in the Index for September 2026 

	1.5	Revised Rent means the new Principal Rent following each Indexation Review Date pursuant to paragraph 2 of the Second Schedule.

	2	The Principal Rent shall be reviewed on each Indexation Review Date to the higher of:

	2.1	the Current Rent (disregarding any suspension or abatement of the Principal Rent); and

	2.2	the Indexed Rent ascertained in accordance with this lease; 

	3	If a Revised Rent has not been ascertained by the Relevant Indexation Review Date:

	3.1	the Current Rent shall continue to be payable until the Revised Rent is ascertained;

	3.2	when the Revised Rent is ascertained:

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		3.2.1	the Tenant shall pay within 14 days of ascertainment of the Revised Rent:

		(i)	any difference between the Principal Rent payable immediately before the Relevant Indexation Review Date and the Principal Rent which would have been payable had the Revised Rent been ascertained on the Relevant Indexation Review Date (the Balancing Payment); and

		(ii)	interest on the Balancing Payment at Base Rate from the date or dates when the Balancing Payment or the relevant part or parts would have been payable had the Revised Rent been ascertained on the Relevant Indexation Review Date;

		3.2.2	the Landlord and Tenant shall sign and exchange a memorandum recording the amount of the Revised Rent.

	4	Time shall not be of the essence for the purposes of this Schedule.

Part II – Rent Review

	1	In this Part of this Schedule:

	1.1	Review Date means each of the Review Dates and Relevant Review Date shall be interpreted accordingly;

	1.2	Rack Rental Value means the annual rent (exclusive of VAT) at which the Property might reasonably be expected to be let in the open market at the Relevant Review Date

ASSUMING

		1.2.1	the letting is on the same terms as those contained in this lease but subject to the following qualifications:

		(i)	the term shall commence on the Relevant Review Date and be for a term equal to the unexpired residue of the Term;

		(ii)	the amount of the Principal Rent shall be disregarded, but it shall be assumed that the Principal Rent is subject to review every five (5) years to the Rack Rental Value;

		1.2.2	the Property is available to let as a whole, with vacant possession, by a willing landlord to a willing tenant, without premium;

		1.2.3	the Property is ready, fit and available for immediate occupation and use for the Permitted Use;

		1.2.4	all the obligations on the part of the Tenant contained in this lease have been fully performed and observed;

		1.2.5	no work has been carried out to the Property which has reduced the rental value of the Property;

		1.2.6	if the whole or any part of the Property has been destroyed or damaged it has been fully reinstated; 

		1.2.7	that there is no alternative basis in the hypothetical lease for the assessment of rent on review other than for assessment of the Rack Rental Value;

		1.2.8	that the works referred to in the agreement for the grant of this lease and defined as Landlord’s Works have been carried out and completed at the Landlord’s sole expense

BUT DISREGARDING

		1.2.9	any goodwill attached to the Property by reason of any business carried on there;

		1.2.10	any effect on rent of the fact that any Tenant and any undertenant is or has been in occupation of the Property;

		1.2.11	any effect on rent of any improvements at the Property made with the Landlord’s consent by the Tenant or any undertenant, except improvements carried out pursuant to an obligation to the Landlord or at the expense of the Landlord;

PROVIDED THAT the Rack Rental Value shall be that which would be payable after the expiry of any rent free period or concessionary rent period for fitting out (or the receipt of any contribution to fitting out works or other inducement in lieu thereof) which might be given on a letting of the Property, so that no discount reduction or allowance is made to reflect (or compensate the tenant for the absence of) any such rent free or concessionary rent period or contribution or other inducement;

	1.3	Revised Rent means the new Principal Rent following each Review Date pursuant to paragraph 2 of the Second Schedule.

	1.4	Expert means a surveyor (who shall be a Fellow of the Royal Institution of Chartered Surveyors with at least ten (10) years’ experience in the letting and valuation of premises of a similar nature to and situate in 

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		the same region as the Property) agreed between the Landlord and the Tenant, or in the absence of agreement nominated on the application of either party by the President for the time being of the Royal Institution of Chartered Surveyors.

	2	The Principal Rent shall be reviewed on each Review Date to the higher of:

	2.1	the Principal Rent payable immediately before the Relevant Review Date (disregarding any suspension or abatement of the Principal Rent); and

	2.2	the Rack Rental Value on the Relevant Review Date agreed or determined in accordance with this lease.

	3	The Rack Rental Value at any Review Date shall be:

	3.1	agreed in writing between the Landlord and the Tenant; or

	3.2	determined by an Expert (acting as an expert) on the application of either Landlord or Tenant at any time after the Relevant Review Date; 

	4	In the case of determination by an Expert:

	4.1	the Expert will be instructed to afford the Landlord and the Tenant the opportunity to make written representations to him and comment upon written representations received by him;

	4.2	if an Expert dies, refuses to act or becomes incapable of acting, or if he fails to notify the parties of his determination within 2 months after receiving the last submission delivered to him, either the Landlord or the Tenant may apply to the President to discharge him and appoint another in his place;

	4.3	the fees and expenses of the Expert and any VAT thereon shall be paid by the Landlord and the Tenant in such shares as the Expert shall decide (or in equal shares if the Expert does not decide this point); if one party pays all the Expert’s fees and expenses, the paying party may recover the other’s share from the other party, in the case of the Landlord as arrears of rent.

	5	If a Revised Rent is not agreed or determined by the Relevant Review Date:

	5.1	the Principal Rent payable immediately before the Relevant Review Date shall continue to be payable until the Revised Rent is ascertained;

	5.2	when the Revised Rent is ascertained:

		5.2.1	the Tenant shall pay within 14 days of ascertainment:

		(i)	any difference between the Principal Rent payable immediately before the Relevant Review Date and the Principal Rent which would have been payable had the Revised Rent been ascertained on the Relevant Review Date (the Balancing Payment); and

		(ii)	interest on the Balancing Payment at Base Rate from the date or dates when the Balancing Payment or the relevant part or parts would have been payable had the Revised Rent been ascertained on the Relevant Review Date;

		5.2.2	the Landlord and Tenant shall sign and exchange a memorandum recording the agreed amount of the Revised Rent.

	6	Time shall not be of the essence for the purposes of this Schedule.”

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EXECUTED as a DEED by 
MEPC MILTON PARK NO. 1 LIMITED acting by:
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A director in the presence of:
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/s/ Chris Darroch
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Director 

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	/s/ Marie Clare Darroch
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Witness name: Marie Clare Darroch
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Address: 12 Langtree Ave, Glasgow
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EXECUTED as a DEED by
MEPC MILTON PARK NO. 2 LIMITED acting by: 
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A director in the presence of:
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/s/ Chris Darroch
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Director

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	/s/ Marie Clare Darroch
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Witness name: Marie Clare Darroch
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Address: 12 Langtree Ave, Glasgow
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EXECUTED as a DEED by ADAPTIMMUNE LIMITED acting by two directors or a director and the company secretary
Director
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Director/Company Secretary
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	/s/ Margaret Henry
/s/ Gavin Wood
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	EXECUTED AS A DEED by ADAPTIMMUNE THERAPEUTICS PLC acting by two directors or a director and the company secretary
	

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/s/ James Noble 
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/s/ Margaret Henry 
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	Director

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	Director/Company Secretary
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​Exhibit 101 - CIC

		
			CHANGE IN CONTROL AGREEMENT
		

		
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			This Change in Control Agreement (the “Agreement”) is made effective as of August 11, 2021 (the “Effective Date”), by and between Evans Bancorp, Inc. (the “Company”) and Aaron Whitehouse (the “Executive”).  References to the “Bank” shall mean Evans Bank, NA, the wholly owned subsidiary of the Company.  References to the “Agency” shall mean The Evans Agency, LLC, also a wholly owned subsidiary of the Company.
		

		
			WHEREAS, the Executive is currently employed by the Agency; and
		

		
			WHEREAS, the Agency wishes to recognize the contributions of the Executive to the Agency by providing the severance benefits described in this Agreement in the event the Executive’s employment is terminated under the circumstances described in this Agreement following a Change in Control (as defined below).
		

		
			NOW, THEREFORE, in consideration of the contribution of the Executive, and upon the other terms and conditions hereinafter provided, the parties hereto agree as follows:
		

			
	
			
				 1.
			

			
	
			
			TERM OF AGREEMENT

		
			The term of this Agreement shall be twenty-four (24) full calendar months from the effective date of this Agreement set forth above, and shall renew daily, such that the remaining unexpired term of the Agreement shall always be twenty-four (24) months, until the date that the Company gives the Executive written notice of non-renewal (“Non-Renewal Notice”).  The term shall end on the date that is twenty-four (24) months after the date of the Non-Renewal Notice, unless the parties agree that the term shall end on an earlier date.
		

			
	
			
				 2.
			

			
	
			
			PAYMENTS TO EXECUTIVE UPON CHANGE IN CONTROL

		
			This Agreement provides for certain payments and benefits to Executive only in the event of Change in Control followed by a termination of Executive’s services with the Company as set forth in this Agreement.
		

			
	
			
				 (a)
			Upon the occurrence of a Change in Control of the Company during the term of this Agreement, followed by Executive’s voluntary termination of employment for “Good Reason,” as defined in Section 2(a) hereof, or involuntary termination of the Executive’s employment by the Company or the Agency, other than for Cause (as defined in Section 2(c) hereof), the provisions of Section 3 shall apply.  “Good Reason” shall mean the following: (i) a material demotion, loss of title, office or significant authority (in each case, other than as a result of the fact that the Company or the Agency is merged into another entity in connection with the Change in Control and will not operate as a stand-alone, independent entity), (ii) a material reduction in annual base compensation, (iii) or relocation of his principal place of employment by more than thirty-five (35) miles from its location immediately prior to the Change in Control.  Upon the occurrence of any event described above in clauses (i), (ii), and (iii), Executive shall have the right to elect to terminate the Agreement by resignation for Good Reason within ninety (90) days after the event giving rise to said right to elect.  The Company shall have at least thirty (30) days  thereafter to remedy the occurrence of any of the events described above, provided, however, that the Company shall be entitled to waive such cure period and make an immediate 
		

		 

 

			payment hereunder.  If the Company remedies the event within the thirty (30) day cure period, then no Good Reason shall be deemed to exist with respect to such event.  If the Company does not remedy the event within such thirty (30) day cure period, then the Executive may deliver a Notice of Termination, as defined in Section 4 hereof at any time within sixty (60) days following the expiration of such cure period.

			
	
			
				 (b)
			For these purposes, a Change in Control of the Company shall mean a change in control of a nature that:

		
			(i)would be required to be reported in response to Item 5.01 of the current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”); or
		

		
			(ii)results in a Change in Control of the Company within the meaning of the Bank Holding Company Act, as amended, and applicable rules and regulations promulgated thereunder by the Federal Reserve Board (collectively, the “BHCA”), or under the Bank in Control Act and the rules and regulations promulgated thereunder by the Federal Reserve Board, as in effect at the time of the Change in Control; or results in a Change in Control of the Agency within the meaning of a material change in the ownership of the Agency from the Company.
		

		
			(iii)without limitation such a Change in Control shall be deemed to have occurred at such time as (a) any “person” (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of Company’s outstanding securities, except for any securities purchased by the Company’s employee stock ownership plan or trust; or (b) individuals who constitute the Board on the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the Company’s stockholders was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this clause (b), considered as though he were a member of the Incumbent Board; or (c) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the Company or similar transaction in which the Company is not the surviving institution occurs or is implemented; or (d) a proxy statement soliciting proxies from stockholders of the Company is distributed, by someone other than the current management of the Company, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Company or similar transaction with one or more corporations as a result of which the outstanding shares of the class of securities then subject to the plan are exchanged for or converted into cash or property or securities not issued by the Company; or (e) a tender offer is made for 25% or more of the voting securities of the Company and the shareholders owning beneficially or of record 25% or more of the outstanding securities of the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender offeror.  
		

			
	
			
				 (c)
			Even if a Change in Control shall occur, the Executive shall not have the right to receive termination benefits pursuant to Section 3 hereof upon termination of employment for Cause.  “Cause” as used herein, shall include termination because of the Executive’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, material breach of the Agency’s or the Company’s Code of Ethics, material violation of the 
		

		 

		

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			Sarbanes-Oxley requirements for officers of public companies that in the reasonable opinion of the Chief Executive Officer will likely cause substantial financial harm or substantial injury to the reputation of the Agency or the Company, willfully engaging in actions that in the reasonable opinion of the Chief Executive Officer will likely cause substantial financial harm or substantial injury to the business reputation of the Agency or the Company, failure to perform stated duties after receiving written notice of Executive’s failure to perform assigned duties, willful violation of any law, rule or regulation (other than routine traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of the Agreement.

			
	
			
				 3.
			

			
	
			
			TERMINATION

			
	
			
				 (a)
			If, within twenty-four (24) months after the occurrence of a Change in Control, there is an involuntary termination of the Executive’s employment with the Agency or the Company other than for Cause, or a voluntary termination of employment with the Agency and the Company for Good Reason, the Company shall be obligated to pay the Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay, a lump sum equal to two times the highest rate of gross base salary earned by the Executive during the prior twelve (12) months, subject to applicable withholding taxes, but that such payment is conditioned upon the Executive signing a general release in a form acceptable to the Company.  Upon an Event of Termination, the Executive shall have such rights as specified in any other employee benefit plans or programs maintained by the Employer, as may be in effect from time to time. 

			
	
			
				 (b)
			Upon the occurrence of an Event of Termination, the Agency will continue to provide, under the same cost-sharing arrangement as is in effect upon the Event of Termination, life insurance and non-taxable medical and health insurance coverage substantially comparable, as reasonably or customarily available, to the coverage maintained by the Agency for Executive prior to his termination, except to the extent such coverage may be changed in its application to all Employer employees.  Such coverage shall cease twenty-four (24) months following the Event of Termination.  

			
	
			
				 (c)
			The benefit described in Section 3(a) shall be paid in a lump sum within thirty (30) days following the Executive’s Date of Termination, as defined in Section 4 hereof.  Such payments shall not be reduced in the event the Executive obtains other employment following termination of employment.  Notwithstanding the foregoing, in the event Executive is a “Specified Employee” (within the meaning of Treasury Regulations §1.409A-1(i)), then solely to the extent necessary to avoid penalties under Code Section 409A, Executive shall be paid the benefit described in Section 3(a) on the first day of the seventh month following the Executive’s Date of Termination; provided, however, that the six-month delay for such payment shall not apply in the event that the separation pay is due to upon an involuntary Separation from Service or a Good Reason Separation from Service and the amount of the separation pay does not exceed two times the lesser of (i) the Executive’s annualized compensation based upon his annual rate of pay for the taxable year preceding the year in which the Separation from Service occurs; or (ii) the limit set forth in Section 401(a)(17) of the Internal Revenue Code for the year in which the Separation from Service occurs (i.e. for 2010, $245,000), as provided in Treasury Regulation Section 1.409A-1(b)(9)(iii).  

		 

		

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				 (d)
			Notwithstanding the preceding paragraphs of this Section 3, in no event shall the aggregate payments or benefits to be made or afforded to the Executive under said paragraphs (the “Termination Benefits”) constitute an “excess parachute payment” under Section 280G of the Code or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to three (3) times the Executive’s “base amount”, as determined in accordance with said Section 280G. The allocation of the reduction required hereby among Termination Benefits provided by the preceding paragraphs of this Section 3 shall be determined by the Executive, provided, however, that if it is determined that such election by Executive shall be in violation of Code Section 409A, the cash severance payable under Section 3 herein shall be reduced by the minimum amount necessary to result in no portion of the payments and benefits payable by the Company being non-deductible pursuant to Code Section 280G and subject to an excise tax imposed under Code Section 4999.  

			
	
			
				 (e)
			For purposes of Section 3, termination of employment shall be construed to require a “Separation from Service” as defined in Code Section 409A and the Treasury Regulations promulgated thereunder, such that the Company and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period.

			
	
			
				 (f)
			Notwithstanding anything in this Agreement to the contrary, this Agreement shall be construed to comply with Code Section 409A and the regulations and other guidance published thereunder.

			
	
			
				 4.
			

			
	
			
			NOTICE OF TERMINATION

		
			Any purported termination of employment by the Agency or the Company or by the Executive shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the Date of Termination and, in the event of termination by the Executive, the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated.  “Date of Termination” shall mean the date specified in the Notice of Termination (which, in the case of a termination for Cause, shall be immediate).  In no event shall the Date of Termination exceed thirty (30) days from the date Notice of Termination is given.
		

			
	
			
				 5.
			

			
	
			
			POST-TERMINATION OBLIGATIONS AND CONFIDENTIALITY.

		
			(a)The Executive hereby covenants and agrees that, for a period of one year following his termination of employment with the Agency or the Company, he shall not, without the written consent of the Company, either directly or indirectly:
		

		
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			(i)solicit, offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would expect) to have the effect of causing any officer or employee of the Company or the Agency or any of its affiliates to terminate his or her employment and accept employment or become affiliated with, or provide services for compensation in any capacity whatsoever to, any business whatsoever that competes with the 
		
		
 

		

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		business of the Bank or the Company or any of its affiliates or has headquarters or offices within thirty-five (35) miles of the locations in which the Agency or the Company or its affiliates has business operations or has filed an application for regulatory approval to establish an office;

		
		
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			(ii)become an officer, employee, consultant, director, independent contractor, agent, sole proprietor, joint venturer, greater than 5% equity-owner or stockholder, partner or trustee of any savings bank, savings and loan association, savings and loan holding company, credit union, bank or bank holding company, insurance company or agency, any mortgage or loan broker or any other entity competing with the Agency or the Company or its affiliates in the same geographic locations where the Company or its affiliates has material business interests; provided, however, that this restriction shall not apply if the Executive’s employment is terminated following a Change in Control or due to Termination for Cause; or
		

		
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			(iii)solicit, provide any information, advice or recommendation or take any other action intended (or that a reasonable person acting in like circumstances would expect) to have the effect of causing any customer of the Agency or the Company or its affiliates to terminate an existing business or commercial relationship with the Agency or the Company or its affiliates.
		

		
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			(b)Executive shall, upon reasonable notice, furnish such information and assistance to the Company and/or its affiliates, as may reasonably be required by the Company and/or its affiliates, in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party; provided, however, that Executive shall not be required to provide information or assistance with respect to any litigation between the Executive and the Company, or any of its affiliates.
		

		
			(c)Executive agrees that he shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of the Executive’s assigned duties and for the benefit of the Company or the Agency, either during the period of the Executive’s employment or at any other time thereafter, any nonpublic, proprietary or confidential information, knowledge or data relating or belonging to the Company, any of its subsidiaries, affiliated companies or businesses, which shall have been obtained by the Executive during the Executive’s employment with the Company or the Agency.  The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to the Executive; (ii) becomes known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive of any representative of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided that the Executive provides the Company, with prior notice of the contemplated disclosure and reasonably cooperates with the Company, at its expense in seeking a protective order or other appropriate protection of such information).  Notwithstanding clauses (i) and (ii) of the preceding sentence, the Executive’s obligation to maintain such disclosed information in confidence shall not terminate where only portions of the information are in the public domain.
		

		
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			(d)All payments and benefits to the Executive under this Agreement shall be subject to the Executive’s compliance with this Section.  The parties hereto, recognizing that irreparable injury will result to the Company, its business and property in the event of the Executive’s breach of this Section, agree that, in the event of any such breach by the Executive, the Company will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by the Executive and all persons acting for or with the Executive.  The Executive 
		

		 

		

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		represents and admits that the Executive’s experience and capabilities are such that the Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Company, and that the enforcement of a remedy by way of injunction will not prevent the Executive from earning a livelihood.  Nothing herein will be construed as prohibiting the Company from pursuing any other remedies for such breach or threatened breach, including the recovery of damages from the Executive.
		

		
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				 6.
			

			
	
			
			SOURCE OF PAYMENTS

		
			It is intended by the parties hereto that all payments provided in this Agreement shall be paid in cash or check from the general funds of the Company.  
		

			
	
			
				 7.
			

			
	
			
			EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS

		
			This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Company and the Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to the Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that the Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement.
		

			
	
			
				 8.
			

			
	
			
			NO ATTACHMENT

			
	
			
				 (a)
			Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no effect.

			
	
			
				 (b)
			This Agreement shall be binding upon, and inure to the benefit of, the Executive, the Company and their respective successors and assigns.

			
	
			
				 9.
			

			
	
			
			MODIFICATION AND WAIVER

			
	
			
				 (a)
			This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto.

			
	
			
				 (b)
			No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived.

			
	
			
				 10.
			

			
	
			
			REQUIRED PROVISIONS

		
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				 (a)
			Notwithstanding anything herein contained to the contrary, any payments to Executive by the Company, whether pursuant to this Agreement or otherwise, are subject to and 
		

		 

		

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			conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359.

			
	
			
				 (b)
			The Company may terminate the Executive’s employment at any time and for any reason, but any termination by the Company, other than termination for Cause, shall not prejudice Executive’s right to compensation or other benefits under this Agreement.

			
	
			
				 11.
			

			
	
			
			SEVERABILITY

		
			If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law continue in full force and effect.
		

			
	
			
				 12.
			

			
	
			
			HEADINGS FOR REFERENCE ONLY

		
			The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.
		

			
	
			
				 13.
			

			
	
			
			GOVERNING LAW

		
			The validity, interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of New York.
		

			
	
			
				 14.
			

			
	
			
			ARBITRATION

		
			Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a single arbitrator sitting in a location selected by the Executive within thirty-five (35) miles of Williamsville, New York in accordance with the rules of the American Arbitration Association then in effect.  Judgment may be entered on the arbitrator’s award in any court having jurisdiction.
		

			
	
			
				 15.
			

			
	
			
			PAYMENT OF LEGAL FEES

		
			All reasonable legal fees paid or incurred by the Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Company if the Executive is successful on the merits pursuant to a legal judgment, arbitration or settlement.  Such reimbursement shall occur as soon as practicable but not later than two and one-half months after the calendar year in which the dispute is settled or resolved in the Executive’s favor.  
		

			
	
			
				 16.
			

			
	
			
			SUCCESSOR TO THE EMPLOYER

		
			Any successor or assignee to the Company, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all the business or assets of the Company, expressly and unconditionally to assume and agree to perform the Company’s obligations under this Agreement, in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment had taken place.
		

		 

		

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				 17.
			

			
	
			
			OBLIGATIONS OF EMPLOYER

		
			The termination of Executive’s employment, other than following a Change in Control, shall not result in any obligation of the Company under this Agreement.
		

		

		

		 

		

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				 18.
			

			
	
			
			SIGNATURES

		
			IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized representative, and the Executive has signed this Agreement, effective on the date first above written.
		

			
					
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						EVANS BANCORP, INC.

				
	
					
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						8/13/2021

					
						Date

					
					
						By: /s/ David J. Nasca

					
						      David J. Nasca, President and 

					
						       Chief Executive Officer

				
	
					
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						EXECUTIVE

				
	
					
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						8/11/2021

					
						Date

					
					
						/s/ Aaron Whitehouse

					
						Aaron Whitehouse

				
	
					
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