Exhibit 10.2
first AMENDMENT
TO
DEFERRED COMPENSATION PLAN
This FIRST AMENDMENT TO DEFERRED COMPENSATION PLAN (the “First Amendment”), adopted this 26th day of June, 2026 (this “First Amendment”), to that certain Deferred Compensation Plan, adopted April 1, 2022, (the “Agreement”), by and between Peoples Security Bank and Trust Company (the “Employer”), and Susan L. Hubble (the “Executive”). Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Agreement.
WHEREAS, Employer and Executive are parties to the Agreement, pursuant to which the Employer established a deferred compensation arrangement for the benefit of the Executive; and
WHEREAS, the Agreement provides in Article 2 Section 2.1 that Employer shall contribute Twenty-Five Thousand and 00/100 Dollars ($25,0000) to the Contribution Account (defined therein) at the times listed therein and conditioned on Executive’s continued employment through such date; and
WHEREAS, Employer desires to amend Section 2.1 to conditionally add an additional contribution to the Contribution Account for the benefit of the Executive.
NOW, THEREFORE, in consideration of the foregoing mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows:
| 1. | Amendment to Section 2.1 of the Agreement. Section 2.1 of the Agreement is hereby amended to add the following Employer contribution to the Contribution Account, which shall be credited as of the following date and conditioned on the Executive’s continuous employment through such date: |
DateContribution
December 31, 2026$25,000
2.General.
IN WITNESS WHEREOF, the Executive and a representative of the Employer have caused this First Amendment to be executed as indicated below as of the date first above written.
PEOPLES SECURITY BANK AND TRUST COMPANY
By: /s/ Gerard A. Champi
Name:Gerard A. Champi
Title:President and Chief Executive Officer
/s/ Susan L. Hubble
Name:Susan L. Hubble
Title:Executive Vice President and Chief Information Officer