Document:

EX-10.3

Deed of Floating Charge

between

Lionbridge Mauritius Ltd.

and

Wachovia Bank, National Association,

as administrative agent

1

December 4, 2006

TABLE OF CONTENTS

1. Preamble

2. Definitions.

3. Creation of Charge

4. Perfection of Security

5. Representations & Warranties

6. Conversion of Floating Charge into Fixed Charge; Remedies

7. Appointment of Receiver and Manager.

8. Unconditional and Continuing Security

9. Release

10. Amendments

11. No Waiver

12. Indemnity

13. Binding effect; Assignment

14. Severability

15. Governing Law

2

Deed of Floating Charge

This Agreement is made on December 4, 2006 between:

	 	1.	 	LIONBRIDGE MAURITIUS LTD.

a private company incorporated in the Republic of Mauritius, with its registered office
at IFS Court, Twenty-Eight, Cybercity, Ebène, Mauritius (the “Chargor”); and

	 	2.	 	WACHOVIA BANK, NATIONAL ASSOCIATION

a U.S. national banking association, having its principal office at One Wachovia Center,
Charlotte, North Carolina 28288-0737, United States of America, as Administrative Agent
under the Credit Agreement (defined below), (the “Chargee”).

	 	 	1. Preamble

	1.1	 	The Chargor has determined that the execution, delivery and performance of this Deed
directly benefit, and are in the best interests of, the Chargor.

	1.2	 	In consideration of the Chargee making certain financial accommodations available to the
Credit Parties pursuant to the Credit Agreement, the Chargor agrees with the Chargee as below.

	 	 	2. Definitions.

	2.1	 	In this Deed, the terms in the first column shall have the definitions set out in the
second column, as follows:

	 	 	 
	Borrowers

	 	The Company, the Irish Borrower, Lionbridge

Holdings BV and Lionbridge of Europe B.V.;
	 
	 	 
	Charged Assets

	 	All the present and future assets of the Chargor;
	 
	 	 
	Code

	 	The Civil Code of Mauritius;
	 
	 	 
	Company

	 	Lionbridge Technologies, Inc, a company

incorporated in the State of Delaware, USA and

having its principal office at 1050 Winter

Street, Waltham, MA 02451, USA;
	 
	 	 
	Credit Agreement

	 	A credit agreement dated 1st September

2005 (as amended, restated, supplemented or

otherwise modified) by and among the Borrowers,

the US Guarantors, the Foreign Guarantors, the

lenders from time to time party thereto and the

Pledgee, to which the Company has joined by

virtue of the Joinder Agreement;
	 
	 	 
	Deed

	 	This deed of floating charge;
	 
	 	 
	Dutch Borrowers

	 	Lionbridge Holdings BV and Lionbridge Global

Solutions Holdings (Netherlands) B.V. (f/k/a

Bowne Global Solutions Holdings (Netherlands)

B.V.);
	 
	 	 
	Foreign Guarantors

	 	The Borrowers, the US Guarantors, Lionbridge

Holdings Luxembourg S.A.R.L., Lionbridge

Luxembourg S.A.R.L. and the Subsidiaries of the

Irish Borrower and the Dutch Borrowers;
	 
	 	 
	Irish Borrower

	 	Lionbridge International (f/k/a Lionbridge

Technologies Ireland);
	 
	 	 
	Joinder Agreement

	 	An agreement dated December 4, 2006 between the

Chargor, the Borrowers, the US Guarantors, the

Foreign Guarantors and the Pledgee;
	 
	 	 
	Lionbridge Holdings BV

	 	Lionbridge Technologies Holdings B.V.;
	 
	 	 
	Secured Obligations

	 	all the Credit Party Obligations of the Credit

Parties as defined in the Credit Agreement; and
	 
	 	 
	US Guarantors

	 	The Material Domestic Subsidiaries of the Company.

	2.2	 	Terms not otherwise defined herein shall, where the context so permits, have the same meaning
as in the Credit Agreement.

	 	 	3. Creation of Charge

	3.1	 	As continuing security for the due and punctual discharge of the Secured Obligations, the
Chargor hereby creates in favour of the Chargee (as Security Trustee) a first rank floating
charge over the Charged Assets.

	3.2	 	For the purpose of this Deed but without prejudice to the terms of the Credit Documents, the
Obligations shall be valued at the sum of US$ 175,000,000 (including interest, costs,
commissions, etc).

	 	 	4. Perfection of Security

	4.1	 	Immediately following the execution of this Deed, the Chargor shall cause, at its own
costs, this Deed to be registered with the Registrar General and inscribed in the registers of
the Conservator of Mortgages.

	4.2	 	Following such inscription, the Chargor shall deliver to the Chargee an original of this Deed
bearing the original stamp witnessing the inscription of the charge created herein in the
registers of the Conservator of Mortgages.

	4.3	 	The Chargor shall cause the particulars of the charge created herein to be filed with the
Registrar of Companies for the purpose of Section 127 of the Companies Act 2001.

	 	 	5. Representations & Warranties

	5.1	 	The Chargor represents and warrants as follows:

	 	(i)	 	the Chargor:

	 	(a)	 	is a corporation duly organized, validly existing and in good
standing under the laws of Mauritius, and

	 	(b)	 	has all requisite power and authority to execute, deliver and
perform this Agreement;

	 	(ii)	 	the execution, delivery and performance by the Chargor of this Agreement:

	 	(a)	 	have been duly authorized by all necessary action; and

	 	(b)	 	do not and will not contravene its constitution or any
applicable law or any material contractual restriction binding on or affecting
it or any of its properties;

	 	(iii)	 	all necessary authorisations to enable the Chargor to enter into this
Agreement have been obtained and are, and will remain, in full force and effect;

	 	(iv)	 	the exercise by the Chargee of any of its rights and remedies in accordance
with the terms of this Agreement will not contravene any law or any contractual
restriction binding on or affecting the Chargor or any of the properties of the
Chargor;

	 	(v)	 	save as is expressly mentioned in Clause 4 above, no authorization or approval
or other action by, and no notice to or filing with, any governmental authority is
required to be obtained or made by the Chargor for:

	 	(a)	 	the due execution, delivery and performance by the Chargor of
this Agreement,

	 	(b)	 	the grant by the Chargor, or the perfection, of the security
created hereby in the Charged Assets; or

	 	(c)	 	the exercise by the Chargee of any of its rights and remedies
hereunder; and

	 	(vi)	 	this Deed will, after the steps set out in Clause 4.1 above have been taken,
create a legal, valid and binding first ranking floating charge on the Charged Assets
as effective security for the Secured Obligations;

	 	(vii)	 	it shall not, at any time during the subsistence of this Agreement, create or
permit to subsist any lien or any other security over all or any part of the Assets
other than as permitted in accordance with the Credit Documents;

	 	(viii)	 	it has not performed and will not perform any act which might prevent the Chargee
from enforcing any of the terms and conditions of this Deed or which would limit or
restrict the Chargee in such enforcement;

	 	(ix)	 	the above representations, warranties and undertakings are and will be correct
and complied with in all respects as at the date of this Deed and also at all times
thereafter so long as the Secured Obligations have not been duly and irrevocably
discharged in full, as if repeated by reference to the then existing circumstances.

	 	 	6. Conversion of Floating Charge into Fixed Charge; Remedies

	6.1	 	For so long as any of the Secured Obligations shall not have been duly and irrevocably
discharged, the Chargee shall have the right, pursuant to the provisions of the Civil Code, at
any time and at its sole discretion and upon giving notice to the Chargor, to convert and
crystallise in its favour the charge herein created over the Charged Assets or any part
thereof into a fixed charge.

	6.2	 	In case such right of conversion is exercised, the Chargee shall upon conversion cause the
inventory prescribed under the Code to be made and fulfil all the other formalities and
procedures prescribed by the Code.

	6.3	 	The Chargor shall bear all the costs incurred in converting and crystallising the Charge into
a fixed charge.

	6.4	 	The Chargee shall be entitled to all the remedies provided by law. The remedies provided in
this Deed are cumulative and not exclusive of any remedies provided by law.

	 	 	7. Appointment of Receiver and Manager.

	7.1	 	If any of the Secured Obligations is due and payable but not paid or discharged on demand
or if the Chargor has breached any provision of this Deed or any other Credit Document or in
the case of any other Event of Default, the Chargee may appoint any person to be a receiver
and manager of the Charged Assets or any part thereof and may in like manner from time to time
remove any receiver and manager so appointed and appoint another in his stead.

	7.2	 	A receiver and manager so appointed shall be the agent of the Chargor and the Chargor shall
alone be liable for his acts and defaults and remuneration and he shall have authority and be
entitled to exercise the powers hereinafter set forth and to do all such acts and things which
a receiver and manager lawfully may or can do which may be necessary for or considered to be
incidental or conductive to the carrying on of the business of the Chargor including the
raising of money with the consent of the Chargee on the security of the Charged Assets or
without security and generally to take possession of and collect all or part of the Charged
Assets and for that purpose to take proceedings in the name of the Chargor to sell all or any
part of the Charged Assets and to make any compromises.

	7.3	 	No purchaser, mortgagor, mortgagee or other person or company dealing with the Chargee or any
receiver and manager or with their attorneys or agents shall be concerned to enquire whether
the powers exercised or purported to be exercised have been exercisable or whether any money
remains due on the security of this Deed or as to the necessity or expediency of the
stipulations and conditions subject to which any sale shall have been made or otherwise as to
the propriety or regularity of such sale, calling in, collection or conversion or to see to
the application of any money paid to the Chargee or such receiver and manager and in the
absence of mala fides on the part of such purchaser, mortgagor, mortgagee or other person or
company, such dealing shall be deemed in so far as regards the safety and protection of such
purchaser, mortgagor, mortgagee person or company to be within the powers hereby conferred and
to be valid and effectual accordingly.

	7.4	 	Subject to the law, all proceeds of any sale, transfer, or other disposal of the Charged
Assets pursuant to this Deed shall be applied by the Chargee in accordance with the Credit
Agreement.

	 	 	8. Unconditional and Continuing Security

	8.1	 	The charge and security interest created by this Deed and the obligations of the Chargor
hereunder are unconditional and shall not be affected by any invalidity or unenforceability of
provision of this Deed or any provision of the other Credit Documents or any other agreement
between the Chargee and the Chargor (whether made before or after the date of this Deed).

	8.2	 	The security created by this Deed:

	 	(i)	 	shall constitute and be a continuing security notwithstanding any intermediate
discharge or settlement or reduction or satisfaction of the Secured Obligations or any
other matter or thing whatsoever;

	 	(ii)	 	is in addition to and is not in any way prejudiced or affected by any
collateral or other security, judgement or order or any lien to which the Chargee or
any other Credit Party may be otherwise entitled; and

	 	(iii)	 	shall be reinstated by the Chargor if, for any reason, any payment by or on
behalf of the Chargor under the Credit Agreement or this Deed shall be rescinded or
must otherwise be restored, whether as a result of any proceedings in bankruptcy or
reorganisation or the like or otherwise.

	8.3	 	To the extent that the Chargor has or hereafter may acquire any immunity or any other defence
from any legal action, suit or proceeding, from the jurisdiction of any court or any legal
process (whether service or notice, attachment prior to judgment, attachment in aid of
execution of judgment, execution of judgment or otherwise) with respect to itself or any of
its property, the Chargor hereby irrevocably waives and agrees not to plead or claim such
immunity or other defence in respect of its obligations under this Deed.

	 	 	9. Release

	9.1	 	The Chargee hereby undertakes that if the Secured Obligations are duly and irrevocably
discharged in full in accordance with the provisions of the Credit Agreement and this Deed,
the Chargee shall, as soon as reasonably practicable after the first written request and at
the expense of the Chargor, discharge the Charged Assets from the charge created herein.

	 	 	10. Amendments

	10.1	 	No amendment or waiver of any provision of this Deed, nor consent to any departure by the
Chargor therefrom, shall in any event be effective unless the same shall be in writing and
signed by the Chargee and registered with the Registrar General and inscribed with the
Conservator of Mortgages, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given.

	 	 	11. No Waiver

	11.1	 	No failure on the part of the Chargor to exercise, and no delay in exercising, any right
under this Deed shall operate as a waiver thereof; nor shall any single or partial exercise of
any such right preclude any other or further exercise thereof or the exercise of any other
right.

	 	 	12. Indemnity

	12.1	 	The Chargor agrees to pay, indemnify, and hold the Chargee harmless from and against any
and all other liabilities, obligations, losses, damages, penalties, actions (whether in
contract, in tort or on any other ground), judgments, suits, costs, expenses or disbursements
of any kind or nature whatsoever with respect to the enforcement of this Deed (the
“indemnified liabilities”), provided, that the Chargor shall have no obligation hereunder to
the Chargee with respect to indemnified liabilities arising from the gross negligence or
wilful misconduct of the Chargee.

	 	 	13. Binding effect; Assignment

	13.1	 	This Deed shall be binding upon and inure for the benefit of the Parties and their
respective successors.

	13.2	 	The Chargor shall not assign any of its rights or obligations under this Deed without the
prior written consent of the Chargee.

	13.3	 	The Chargee may assign any of its rights or obligations under this Deed in accordance with
the provisions of any Credit Document.

	 	 	14. Severability

	14.1	 	In the event that any Clause or part of a Clause in this Deed shall, for any reason, be
determined by a court or arbitration tribunal to be invalid, illegal or unenforceable, the
validity, legality or enforceability of the remaining Clauses shall not be affected or
impaired.

	14.2	 	The Chargor shall take all steps, execute all documents and do everything reasonably required
by the Chargee in order to give full legal effect to that Clause or part of its intended
purpose.

	 	 	15. Governing Law

	15.1	 	This Deed shall be governed by and construed in accordance with the laws of the Republic
of Mauritius.

IN WITNESS WHEREOF, the Chargor and the Chargee have executed this Deed the day and year first
written above in two originals.

LIONBRIDGE MAURITIUS LTD. (“Chargor”)

	 	 	 
	By:

Name:

Title:

	 	/s/Stephen J. Lifshatz

Stephen J. Lifshatz

Director

[SIGNATURE PAGE OF CHARGEE FOLLOWS]

3

WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent (“Chargee”)

	 	 	 
	By:

Name:

Title:

	 	/s/ Mark B. Felker

Mark B. Felker

Managing Director,

	 	 	Wachovia Bank, National Association

4EX-10.1

EMPLOYMENT AGREEMENT

This Employment Agreement (the “Agreement”) is entered into to be effective as of
December 1, 2006 (the “Effective Date”), by and among Evans Bancorp Inc. (“EBI”)
and its subsidiary Evans National Bank (the “Bank”), with offices at 14-16 North Main
Street, Angola, New York 14006, and David J. Nasca, residing at 54 Lanoche Court, Williamsville,
New York 14221 (the “Employee”) to set forth the terms and conditions under which EBI and
the Bank shall employ the Employee.

For good and valuable consideration, the receipt of which is acknowledged by the parties, it
is agreed as follows:

1. EMPLOYMENT; POSITION. EBI and the Bank agree that the Employee shall succeed James
Tilley, EBI’s and the Bank’s current President and Chief Executive Officer. EBI and the Bank
hereby employ the Employee and the Employee hereby accepts such employment, subject to the terms
and conditions herein set forth. Employee shall serve as President of the Bank and of EBI
effective as of the Effective Date, and as Chief Executive Officer of the Bank and EBI effective as
of April 1, 2007. The Employee shall hold the offices of President and Chief Executive Officer of
the Bank and of EBI reporting to the Board of Directors of the Bank and of EBI, as the case may be.
The Employee shall perform such reasonable duties and functions as the Board of Directors of the
Bank and/or of EBI may lawfully assign to him and as are typically performed by executives in such
senior executive positions, and the Employee shall comply in the performance of his duties with the
policies of EBI and of the Bank and of their respective Board of Directors. The Employee agrees to
devote his full working time to the performance of his duties hereunder and not to accept paid
employment with any other corporation, bank, or other entity.

2. COMPENSATION. As compensation for the employment services to be rendered by the
Employee hereunder, the Employee shall be paid, and the Employee agrees to accept, an initial
annual base salary of $200,000. The Employee’s base salary shall be payable in equal installments
in accordance with the Bank’s practice, and shall be paid to the Employee by either the Bank or EBI
in such proportions as may be determined by their respective Boards of Directors. The Employee’s
annual salary hereunder for the remaining years of employment shall be determined by the Board of
Directors of EBI and of the Bank in their sole, respective discretions, provided, however, that the
Employee’s annual salary shall not be decreased. The Employee’s performance appraisal and salary
review shall occur annually on a calendar year basis with the first review to be held as of January
1, 2008.

3. STOCK OWNERSHIP. The Employee represents that he currently owns shares of common
stock of EBI having a current market value of at least $10,000.

4. TERM. The initial term of employment under this Agreement shall begin on the
Effective Date hereof and shall continue until December 31, 2011, subject to prior termination in
accordance with the terms of this Agreement (the “Initial Term”). Subject to the rights of
the parties hereunder to terminate employment hereunder, the Initial Term may be extended annually
by appropriate action of the Board of Directors of EBI and of the Bank for successive additional
periods of one (1) year commencing on December 31, 2007 and each anniversary thereof.

5. BENEFITS. Under current policies, as a senior executive officer of the Bank, the
Employee is entitled to four weeks paid vacation per year plus five personal days and customary
bank holidays, beginning and accruing on January 1, 2007. The Employee shall be entitled to
participate in all employee benefit plans, programs, and arrangements as customarily provided by
the Bank or by EBI, as the case may be, to their respective senior executive officers and for which
the Employee shall qualify, as set forth in the Employee’s offer of employment dated August 7,
2006, accepted August 14, 2006 and approved August 15, 2006 by the Board of Directors EBI and the
Bank, and as such plans, programs, and arrangements are from time to time amended (the “Benefit
Plans”).

6. BONUS COMPENSATION. The Employee shall be entitled to receive such bonus as may
from time to time be deemed appropriate by the Board of Directors of the Bank or of EBI, in their
sole, respective discretions. The Employee acknowledges and agrees that, in light of the level of
the Employee’s compensation and other factors, bonus arrangements for the Employee may be
separately considered from bonus arrangements for the other officers of the Bank or of EBI. The
Employee’s initial bonus review shall be for the calendar year 2007, and shall occur as of January
1, 2008.

7. ADDITIONAL BENEFITS. The Bank shall provide the Employee with a $700 per month
automobile allowance. The Bank shall reimburse the Employee for his reasonable Brookfield Country
Club dues and his reasonable business expenses. The Bank shall pay or reimburse the Employee for
fees and expenses associated with membership in trade associations or professional memberships
related to the business of EBI or the Bank. Subject to the following conditions and limitations,
the Bank shall use its commercially reasonable efforts to obtain for and provide to the Employee
supplemental long-term disability insurance (“S-LDI”) that supplements the Bank’s long-term
disability plan benefits for which the Employee is eligible to participate and that provides the
Employee with long-term disability payments equal to not more than 70% of the Employee’s annual
salary, provided, the Employee is and remains eligible for S-LDI based on Employee’s health or
otherwise, S-LDI covering the Employee is available to the Bank and is available at commercially
reasonable premium rates.

8. TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION.

(a) The Employee’s employment hereunder shall terminate upon the first to occur of the
following:

(i) upon 90 days’ prior written notice to the Employee upon determination by the Board of
Directors of the Bank and/or of EBI that the Employee’s employment shall be terminated for any
reason which would not constitute termination “for cause” (as herein defined);

(ii) upon written notice to the Employee upon determination by the Board of Directors of the
Bank and/or of EBI that the Employee’s employment shall be terminated “for cause”;

	 	(iii)	 	automatically upon the death of the Employee;

(iv) in accordance with the terms of Section 9 upon the “disability” (as hereinafter defined)
of the Employee; and

(v) upon 90 days’ prior written notice by the Employee to EBI and the Bank of the Employee’s
voluntary termination of his employment.

(b) For the purposes of this Agreement “for cause” shall mean (i) dishonesty or fraud
in the Employee’s dealings with the Bank or EBI or their respective customers, (ii) indictment for
any crime which in the reasonable judgment of the Board of Directors of the Bank and/or EBI
adversely affects the good name and reputation of the Bank or of EBI or (iii) material neglect or
failure by the Employee to fulfill the Employee’s obligations as President or Chief Executive
Officer of the Bank or of EBI as contemplated by this Agreement where such neglect or failure shall
not have ceased or been remedied within 30 days following written warning from the Bank or EBI.
The determination that “for cause” exists shall be made by a 2/3rds vote of the Board of Directors
of the Bank and/or EBI (excluding the Employee for the purposes of determining such 2/3rds vote).

(c) In the event the Employee’s employment is terminated without cause pursuant to Section
8(a)(i) above, EBI or the Bank shall pay the Employee, for a period equal to the then remaining
term of this Agreement, a monthly payment (subject to applicable tax withholding) equal to
one-twelfth of his then annual base salary, which amount shall be in lieu of any and all other
payments due and owing to the Employee under the terms of this Agreement (other than any payments
or benefits payable under the terms of the Benefit Plans). EBI’s or the Bank’s obligation to make
payments under this Section 8(c) shall be conditional upon the Employee’s compliance with his
obligations under Sections 13, 14, 15 and 16 hereof.

(d) If the Employee should die during the term of his employment hereunder, this Agreement
shall terminate immediately. In such event, the estate of the Employee shall thereupon be entitled
to receive such portion of the Employee’s then annual base salary as has been accrued through the
date of his death. The Employee’s estate also shall be entitled to any amounts or benefits payable
under the terms of the Benefit Plans.

(e) Upon termination of the Employee’s employment by EBI or the Bank for cause or by the
Employee pursuant to Section 8(a)(v), the Employee shall not be entitled to any amounts or benefits
hereunder other than such portion of the Employee’s annual salary as has been accrued through the
date of his termination of employment and any accrued and unpaid vacation pay through the date of
his termination of employment (as provided in EBI’s or the Bank’s vacation policy as in effect from
time to time and consistent with applicable law).

9. DISABILITY. The Employee’s employment may also be terminated upon written notice
to the Employee by the Bank or EBI in the event of the Employee’s disability. For purposes of this
Agreement “disability” shall mean the Employee’s physical or mental incapacity which
prevents the Employee from performing the Employee’s normal duties on a full time basis, which
condition, in the reasonable judgment of the Board of Directors of the Bank and/or of EBI after
consultation with medical advisors satisfactory to such Boards and the Employee, is likely to
continue for a sufficiently long period of time so as to be materially detrimental to the Bank’s
and/or EBI’s operations. Any termination pursuant to this Section 9 shall be effective on the date
30 days after which the Employee shall have received written notice of EBI’s or the Bank’s election
to terminate hereunder. In such event, the Employee shall thereupon be entitled to receive, for a
period equal to the shorter of (i) 180 days from the effective date of the Employee’s termination
of employment under this Section 9 or (ii) until such date the Employee becomes eligible for long
term disability payments under either the Bank’s or EBI’s then existing long term disability plan,
continued scheduled monthly payments of the Employee’s then annual base salary. Executive shall
also be entitled to any amounts or benefits payable under the terms of the Benefit Plans.

10. ASSIGNMENT. This Agreement is personal to the Employee and the Employee may not
assign or transfer any part of his rights or duties hereunder, or any compensation due to the
Employee hereunder, to any other person, except that this Agreement shall inure to the benefit of
and be enforceable by the Employee’s personal or legal representatives, executors, administrators,
heirs, distributees, devises, legatees or beneficiaries. No payment pursuant to any will or the
laws of descent and distribution shall be made hereunder unless the Bank and EBI shall have been
furnished with a copy of such will and/or such other evidence as the respective Boards of Directors
may deem necessary to establish the validity of the payment.

11. AMENDMENT. No provisions of this Agreement may be modified, waived, or discharged
unless such waiver, modification, or discharge is agreed to in a writing signed by the Employee and
by the Chairman of the Board of Directors of the Bank and of EBI or such other director or officer
as may be specifically designated by the respective Boards of Director. Waiver by any party of any
breach of or failure to comply with any provision of this Agreement by the other party shall not be
construed as, or constitute, a continuing waiver of such provision, or a waiver of any other breach
of, or failure to comply with, any other provision of this Agreement.

12. ARBITRATION.

(a) Any disagreement, dispute, controversy or claim arising out of or relating to this
Agreement or the interpretation or validity hereof shall be settled exclusively and finally by
arbitration. It is specifically understood and agreed that any disagreement, dispute or controversy
which cannot be resolved between the parties, including without limitation any matter relating to
the interpretation of this Agreement, may be submitted to arbitration irrespective of the magnitude
thereof, the amount in controversy or whether such disagreement, dispute or controversy would
otherwise be considered justifiable or ripe for resolution by a court or arbitral tribunal. The
arbitration shall be conducted in accordance with the Commercial Arbitration Rules of the American
Arbitration Association (the “AAA”).

(b) The arbitral tribunal shall consist of one arbitrator who shall be an attorney of
recognized standing at the bar with at least 15 years experience in the practice of law. The
parties to the arbitration jointly shall directly appoint such arbitrator within 30 days of
initiation of the arbitration. If the parties shall fail to appoint such arbitrator as provided
above, such arbitrator shall be appointed by the AAA as provided in the Commercial Arbitration
Rules and shall be a person who (i) maintains his or her principal place of business either within
75 miles of Buffalo, New York and (ii) has had substantial experience in commercial and business
matters. The Bank and EBI shall pay all of the fees and expenses of the arbitrator. The
arbitration shall be conducted within the Buffalo, New York metropolitan area or in such other city
in the United States of America as the parties to the dispute may designate by mutual written
consent.

(c) At any oral hearing of evidence in connection with the arbitration, each party thereto or
its legal counsel shall have the right to examine its witnesses and to cross-examine the witnesses
of any opposing party. No evidence of any witness shall be presented unless the opposing party or
parties shall have the opportunity to cross-examine such witness, except as the parties to the
dispute otherwise agree in writing or except under extraordinary circumstances where the interests
of justice require a different procedure.

(d) A decision or award of the arbitral tribunal shall be final and binding upon the parties
to the arbitration proceeding. The parties hereto hereby waive to the extent permitted by law any
rights to appeal or to seek review of such award by any court or tribunal. The parties hereto agree
that the arbitral award may be enforced, against the parties to the arbitration proceeding or their
assets wherever they may be found and that a judgment upon the arbitral award may be entered in any
court having jurisdiction thereof.

(e) Nothing herein contained shall be deemed to give, the arbitral tribunal any authority,
power, or right to alter, change, amend, modify, add to, or subtract from any of the provisions of
this Agreement.

13. CONFIDENTIALITY. The Employee 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 Employee’s assigned duties and for the benefit of EBI or the Bank, either during the
period of the Employee’s employment or at any time thereafter, any nonpublic, proprietary or
confidential information, knowledge or data relating or belonging to EBI or the Bank, any of their
respective subsidiaries, affiliated companies or businesses, which shall have been obtained by the
Employee during the Employee’s employment by EBI or the Bank. The foregoing shall not apply to
information that (i) was known to the public prior to its disclosure to the Employee; (ii) becomes
known to the public subsequent to disclosure to the Employee through no wrongful act of the
Employee or any representative of the Employee; or (iii) the Employee is required to disclose by
applicable law, regulation or legal process (provided that the Employee provides EBI or the Bank,
as the case may be, with prior notice of the contemplated disclosure and reasonably cooperates with
EBI or the Bank, as the case may be, 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 Employee’s obligation to maintain such disclosed information in confidence shall not
terminate where only portions of the information are in the public domain.

14. NONCOMPETITION AGREEMENT.

(a) In view of the unique and valuable services expected to be rendered by the Employee to EBI
and/or the Bank and in consideration of the compensation to be received hereunder, during the
Employee’s employment by EBI and/or the Bank and, unless the Employee’s employment is terminated
for cause as defined in Section 8, for a period of one year following the termination of the
Employee’s employment hereunder (the “Non-Competition Period”), the Employee agrees that
the Employee will not, directly or indirectly, own, manage, operate, control, be employed by
(whether as an employee, consultant, independent contractor or otherwise, and whether or not for
compensation) or render services to any person, firm, corporation or other entity, in whatever
form, engaged in any business of the same type as any business in which EBI or the Bank or any of
their respective subsidiaries or affiliates is engaged at the effective date of termination or in
which they have proposed, on or prior to such date, to be engaged in on or after such date and in
which the Employee has been involved to any extent (other than DE MINIMIS) at any time during the
12-month period ending with the effective date of termination, in any locale of the United States
in which EBI or the Bank conducts business. This Section 14 shall not prevent the Employee from
owning not more than one percent of the total shares of all classes of stock outstanding of any
publicly held entity engaged in such business, nor will it restrict the Employee from rendering
services to charitable organizations, as such term is defined in Section 501(c) of the Internal
Revenue Code of 1986 (the “Code”).

(b) If any portion of the restrictions set forth in this Section 14 should, for any reason
whatsoever, be declared invalid by a court or tribunal of competent jurisdiction, the validity or
enforceability of the remainder of such restrictions shall not thereby be adversely affected.

(c) The Employee acknowledges that the territorial and time limitations set forth in this
Section 14 are reasonable and properly required for the adequate protection of the business of each
of EBI and the Bank. The Employee hereby waives, to the extent permitted by law, any and all right
to contest the validity of this Section 14 on the ground of breadth of its geographic or product
and service coverage or length of term. In the event any such territorial or time limitation is
deemed to be unreasonable by a court or tribunal of competent jurisdiction, the Employee agrees to
the reduction of the territorial or time limitation to the area or period which such court or
tribunal shall deem reasonable.

15. NON-SOLICITATION AGREEMENT.

During the Employee’s employment with EBI or the Bank and continuing during the
Non-Competition Period, the Employee agrees that he will not, directly or indirectly, individually
or on behalf of any other person, firm, corporation or other entity, knowingly solicit, aid or
induce (a) any managerial level employee of EBI or the Bank or any of their respective subsidiaries
or affiliates to leave such employment in order to accept employment with or render services to or
with any other person, firm, corporation or other entity unaffiliated with either EBI or the Bank
or knowingly take any action to materially assist or aid any other person, firm, corporation or
other entity in identifying or hiring any such employee or (b) any customer of EBI or the Bank or
any of their respective subsidiaries or affiliates to purchase goods or services then sold by EBI
or the Bank or any of their respective subsidiaries or affiliates from another person, firm,
corporation or other entity or assist or aid any other persons or entity in identifying or
soliciting any such customer.

16. NONCOMPETITION ACKNOWLEDGEMENTS RESPECTING RESTRICTIVE COVENANTS

(a) No Adequate Remedy at Law. The Employee acknowledges that it is impossible to
measure in money the damages that will accrue to either EBI or the Bank in the event that the
Employee breaches, or threatens to commit a breach of, any of the restrictive covenants set forth
in Sections 13, 14 and 15 (individually, a “Restrictive Covenant”) and collectively, the
“Restrictive Covenants”) and that any such damages, in any event, would be inadequate and
insufficient. Therefore, if the Employee breaches, or threatens to commit a breach of, any
Restrictive Covenant, EBI or the Bank and any of their respective subsidiaries or affiliates shall
have, in addition to, and not in lieu of, any other rights and remedies available to them under law
and in equity, the right to injunctive relief and/or to have the Restrictive Covenants specifically
enforced by a court or tribunal of competent jurisdiction, without the posting of any bond or other
security. If EBI or the Bank or any of their respective subsidiaries or affiliates shall institute
any action or proceeding to enforce a Restrictive Covenant, the Employee hereby waives, and agrees
not to assert in any such action or proceeding, the claim or defense that EBI or the Bank or any of
their respective subsidiaries or affiliates have an adequate remedy at law. Notwithstanding the
foregoing, nothing herein shall constitute a waiver by the Employee of his right to contest whether
a breach or threatened breach of any Restrictive Covenant has occurred. The Employee shall inform
any future employer of the Restrictive Covenants and provide such employer with a copy thereof,
prior to the commencement of that employment.

(b) Injunctive Relief Not Exclusive Remedy. In the event of a breach of any of the
Restrictive Covenants, the Employee agrees that, in addition to any injunctive relief as described
in Section 16(a) above, EBI or the Bank and any of their respective subsidiaries or affiliates
shall be entitled to any other appropriate legal or equitable remedy.

(c) Sections Reasonable, Fair and Equitable. The Employee agrees that the provisions
of Sections 13, 14, 15 and this Section 16 are reasonable, fair and equitable in light of his
duties and responsibilities under this Agreement and the benefits to be provided to him under this
Agreement and that it is necessary to protect the legitimate business interests of EBI and the Bank
and that the Employee has had independent legal advice in so concluding.

17. MISCELLANEOUS

17.1 NOTICE. All notices, requests, demands, and other communications required or
permitted to be given by either party to the other party by this Agreement (including, without
limitation, any notice of termination of employment and any notice under the Commercial Arbitration
Rules of an intention to arbitrate) shall be in writing and shall be deemed to have been duly given
when delivered personally or when mailed by certified or registered mail, return receipt requested,
postage prepaid, at the address of the other party, as set forth below, and shall be deemed to have
been duly received when delivered personally or received by such mailing or upon refusal of the
receiving party to accept such personal delivery or receipt of such mailing:

If to the Bank or EBI, to:

Evans Bancorp Inc.

Evans National Bank

14-16 North Main Street

Angola, New York 14006

Attention: Chairman of the Board of Directors of Evans National Bank

or Chairman of the Board of Directors of Evans Bancorp, Inc., as required

If to the Employee, to:

David J. Nasca

54 Lanoche Court

Williamsville, New York 14221

Either party hereto may change its address for purposes of this Section 17 by giving written notice
to the other party hereto.

17.2 ENFORCEABILITY. If any term or provision of this Agreement or the application
thereof to any person or circumstance shall to any extent be invalid or unenforceable, the
remainder of this Agreement or the application of such term or provision to persons or
circumstances other than those as to which it is held invalid or unenforceable shall not be
affected thereby, and each term, and provision of this Agreement shall be valid and enforceable to
the fullest extent permitted by law.

17.3 COUNTERPARTS. This Agreement may be signed in counterparts with the same effect
as if the signatures to each counterpart were upon a single instrument, and all such counterparts
together shall be deemed an original of this Agreement. For purposes of this Agreement, a
facsimile copy of a party’s signature shall be sufficient to bind such party.

17.4 GOVERNING LAW. This Agreement has been executed and delivered in the State of
New York and shall in all respects be governed by, and construed and enforced in accordance with,
the laws of the State of New York.

17.5 ENTIRE AGREEMENT. Except as explicitly provided for herein, this Agreement
supersedes any and all other oral or written agreements heretofore made relating to the subject
matter hereof (including the letter agreement accepted by the Employee on August 14, 2006) and
constitutes the entire agreement of the parties relating to the subject matter hereof.

17.6 TREATMENT AS NON-QUALIFIED DEFERRED COMPENSATION. The parties acknowledge that
certain payments under this Agreement may be treated as non-qualified deferred compensation subject
to Section 409A of the Internal Revenue Code of 1986, as amended. In order that this Agreement
complies with Section 409A, the parties agree (i) that the benefits payable under Section 8 hereof
are payable only upon the Employee’s separation from service, as such term is used in Section 409A,
(ii) that if the Employee is determined to be a “specified employee”, as defined in Section 409A,
of a “corporation with publicly traded stock”, as such phrase is used in Section 409A, than all
payments under Section 8 which are subject to Section 409A shall be delayed for a period of six (6)
months after the date of the Employee’s separation from service, (iii) that the payments under
Section 8 cannot be accelerated under the terms of this Agreement, (iv) that there is neither any
“initial deferral election” nor any “subsequent elections”, as such terms are used in Section 409A,
provided to the Employee relating to any benefits under Section 8 which are subject to Section
409A, and (v) that the benefits under Section 8 hereof are not, and shall not be funded through a
trust located outside the United States. It is the expressed intention of the parties that this
Agreement comply with Section 409A, and its terms and provisions shall be construed and interpreted
to the extent possible in a manner consistent with such intent.

17.7 SURVIVAL. Except as otherwise expressly provided herein, the termination of the
Employee’s employment hereunder or the expiration of this Agreement shall not affect the
enforceability of Sections 8(c), 13, 14, 15, 16 and Section 17 hereof or of any provisions hereof
requiring the payment of certain amounts following such termination or expiration

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written.

EVANS BANCORP INC.

	 	 	 
	By:

	 	/s/ Phillip Brothman
	
 
	 	 
	Name:

	 	Phillip Brothman
	
 
	 	 
	Title:

	 	Chairman of the Board
	
 
	 	 

EVANS NATIONAL BANK

	 	 	 
	By:

	 	/s/ Phillip Brothman
	
 
	 	 
	Name:

	 	Phillip Brothman
	
 
	 	 
	Title:

	 	Chairman of the Board
	
 
	 	 
	 
	 	 
	By:

	 	/s/ David J. Nasca
	
 
	 	 
	Name:

	 	David J. Nasca

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