SEC Contract Filing

Filing Date: 2021-08-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>evbn-20210813xex10_1.htm
<DESCRIPTION>EX-10.1
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 Exhibit 101 - CIC
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 <font style="display: inline;font-weight:bold;">CHANGE IN CONTROL AGREEMENT</font>
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 <font style="display: inline;">This Change in Control Agreement (the &#x201C;Agreement&#x201D;) is made effective as of </font><font style="display: inline;">August 11</font><font style="display: inline;">, 2021 </font><font style="display: inline;">(the &#x201C;Effective Date&#x201D;), by and between Evans Bancorp, Inc. (the &#x201C;Company&#x201D;) and </font><font style="display: inline;">Aaron Whitehouse</font><font style="display: inline;"> (the &#x201C;Executive&#x201D;).&nbsp;&nbsp;References to the &#x201C;Bank&#x201D; shall mean Evans Bank, NA, the wholly owned subsidiary of the Company.</font><font style="display: inline;"> &nbsp;References to the &#x201C;Agency&#x201D; shall mean The Evans Agency, LLC, also a wholly owned subsidiary of the Company.</font>
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 <font style="display: inline;font-weight:bold;">WHEREAS</font><font style="display: inline;">, the Executive is currently employed by the </font><font style="display: inline;">Agency</font><font style="display: inline;">; and</font>
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 <font style="display: inline;font-weight:bold;">WHEREAS</font><font style="display: inline;">, the </font><font style="display: inline;">Agency </font><font style="display: inline;">wishes to recognize the contributions of the Executive to the </font><font style="display: inline;">Agency </font><font style="display: inline;">by providing the severance benefits described in this Agreement in the event the Executive&#x2019;s employment is terminated under the circumstances described in this Agreement following a Change in Control (as defined below).</font>
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 <font style="display: inline;font-weight:bold;">NOW, THEREFORE</font><font style="display: inline;">, in consideration of the contribution of the Executive, and upon the other terms and conditions hereinafter provided, the parties hereto agree as follows:</font>
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 <font style="margin:0pt 0pt 12pt;font-weight:bold;font-family:Times New Roman;font-weight:bold;font-style:normal;font-size:12pt;text-decoration:none;;"> 1.</font>
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 <font style="display: inline;color:#000000;">TERM OF AGREEMENT</font></p></td></tr></table></div>
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 <font style="display: inline;color:#000000;">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 (&#x201C;Non-Renewal Notice&#x201D;).&nbsp;&nbsp;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.</font>
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 <font style="margin:0pt 0pt 12pt;font-weight:bold;font-family:Times New Roman;font-weight:bold;font-style:normal;font-size:12pt;text-decoration:none;;"> 2.</font>
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 <font style="display: inline;color:#000000;">PAYMENTS TO EXECUTIVE UPON CHANGE IN CONTROL</font></p></td></tr></table></div>
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 <font style="display: inline;color:#000000;">This Agreement provides for certain payments and benefits to Executive only in the event of Change in Control followed by a termination of Executive&#x2019;s services with the Company as set forth in this Agreement.</font>
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