Orange County Bancorp grants CFO Lesler and Deputy CLO Sousa 2x CIC severance and SERP benefits

Orange County Bancorp, Inc. /DE/

CFO Michael Lesler and Deputy CLO Gregory Sousa entered CIC Plan with 2x severance multiplier on Feb 21, 2024.
Lesler also joined SERP with annual performance contribution of 10% of base salary subject to financial goals.
CIC Plan provides lump sum cash: pro-rata bonus, severance multiple × base salary, plus 18 months COBRA cost.
SERP vests at age 62 with 10 years service, within 12 months of change in control, or death.
Severance benefits under CIC Plan may be reduced to avoid excise tax under Code Sections 280G/4999.

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