Evans Bancorp Revises Executive Agreements and Incentive Plan
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Evans Bancorp Revises Executive Agreements and Incentive Plan

Evans Bancorp (EVBN) has provided an update.

Evans Bancorp, Inc. has updated its change in control agreements with two top executives, John B. Connerton and Kenneth D. Pawlak, removing non-competition clauses while maintaining non-solicitation rules and revising confidentiality terms and the definition of “good reason.” Additionally, the company has made changes to its Executive Incentive Retirement Plan, including the removal of non-competition restrictions and the deletion of references to two subsidiaries. These amendments, effective May 09, 2024, also allow for cash compensation in lieu of insurance benefits under certain conditions following a change in control.

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