Peoples Financial Services adopts severance plan for CEO and leadership team with CIC benefits up to 36 months

PEOPLES FINANCIAL SERVICES CORP.

CEO (Tier I): non-CIC severance = 18 months base salary; CIC = 36 months base + 2.99x target bonus; COBRA for 18/36 months.
Tier II (CFO, Pres, CBO, CRO, CIO, GC, COO, CHRO, CLO): non-CIC = 12 months base; CIC = 24 months base + 2x target bonus.
Tier III (CAO, Market Presidents, Trust Admin Leader, etc.): non-CIC = 12 months base; CIC = 12 months base + 1x target bonus.
Plan effective Sept 2, 2025; benefits require signed release and 12-month non-solicitation; offsets if rehired.
Outplacement services up to $10k for 6 months offered through nationally recognized firm.

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