Exhibit 10.14
SEVERANCE AGREEMENT AND RELEASE OF ALL CLAIMS
This SEVERANCE AGREEMENT AND RELEASE OF ALL CLAIMS (“Agreement”) is made and entered into between Justin K. Bigham (“Employee”) and Five Star Bank (“Employer”), a company with its principal office at 220 Liberty Street, Warsaw, New York 14569 (collectively, “Parties” and each individually “Party”) as of the Effective Date (as defined below).
WHEREAS, Employee has been employed by Employer and has received and had access to Confidential and Proprietary Information of Employer (as defined below); and
WHEREAS, Employer communicated to Employee that Employee’s position is being eliminated as a result of Employer’s business restructuring and resultant reduction in force of certain positions, and Employee has irrevocably agreed to resign and separate Employee’s employment with Employer effective on the Separation Date (defined below), and
WHEREAS, Employee and Employer have agreed, among other things, to fully and finally resolve any and all claims Employee has against Employer; ensure that Employer’s confidential, proprietary and business interests are protected under the terms and circumstances set forth herein; and ensure a smooth and orderly transition of the matters that Employee has been handling on behalf of Employer;
WHEREAS, in consideration of Employee’s service to Employer and Employee’s acceptance and non-revocation of this Agreement, Employer desires to offer severance benefits to Employee;
NOW, THEREFORE, the Parties, in consideration for the promises and mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which the Parties acknowledge, and the Parties acting on their own free will hereby irrevocably agree as follows:
Employee also agrees and acknowledges that the legal rights and claims Employee is giving up against Releasees includes all common law rights and claims, such as a breach of express or implied contract, violation of Employer’s personnel policies or handbooks, tort (whether negligent or intentional), personal injury, wrongful discharge, constructive discharge, intentional or negligent infliction of emotional distress or mental
anguish, defamation, promissory estoppel, interference with contract or business relations, and any claim for fraud, omission or misrepresentation, breach of express or implied duties, or violation of public policy or policies, practices, or procedures of Employer, any similar or related claims, and any claim relating to workplace discrimination or harassment on any protected basis, retaliation, or emotional distress.
In the event that any portion of any covenant or provision contained in this Agreement shall be deemed to be unreasonable in any respect by a court of competent jurisdiction, the Parties agree that such covenant shall be modified only to the minimum extent necessary to render the covenant enforceable.
IN WITNESS WHEREOF, Employee and Employer by its duly authorized agent, have hereunder executed this Agreement and intend to be legally bound by its provisions.
FIVE STAR BANK
By: Date: December 7, 2023
Laurie R. Collins
Chief Human Resources Officer
JUSTIN K. BIGHAM
______________________________ Date: _____________________________
Justin K. Bigham