8k termination agreements
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report - January 12, 2007


Commission File Number: 0-23863

PEOPLES FINANCIAL SERVICES CORP.
(Exact name of registrant as specified in its charter)
 
 
 
PENNSYLVANIA
 
23-2391852
(State of incorporation)
 
(IRS Employer Identification No.)
 
 
 
50 MAIN STREET, HALLSTEAD, PA
 
18822
(Address of principal executive offices)
 
(Zip code)
 
 
 
(570) 879-2175
(Registrant’s telephone number including area code)
 
 
 
 

 
 
 
 
 
 

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Item 1.01
Entry into a Material Definitive Agreement
 
 
On January 1, 2007, the Company entered into Termination Agreements with Stephen N. Lawrenson and Joseph M. Ferretti with the initial term commencing as of January 1, 2007, and ending on December 31, 2008 and will be automatically extended to provide for a two (2) year term, annually, on January 1, 2008, and again on January 1 of each year thereafter. The Company considers the continued services of these Executives to be in the best interest of the Company and its shareholders and desires to induce the Executive to remain in the employ of the Bank on an impartial and objective basis in the event of a change in control.
 
A copy of these agreements are included as Exhibit 10.11 and 10.12 to this report.


 

 
 
Item 9.01 (c)
Financial Statements and Exhibits
 
10.11  Termination Agreement Between Peoples Financial Services Corp. and Stephen N. Lawrenson
10.12  Termination Agreement Between Peoples Financial Services Corp. and Joseph M. Ferretti

 
 
 
 

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 EXHIBIT INDEX

 
 
 
 
 
Exhibit
 
Page Number of Manually Signed Original
10.11
Termination Agreement Between Peoples Financial Services Corp. and Stephen N. Lawrenson
5
10.12
Termination Agreement Between Peoples Financial Services Corp. and Joseph M. Ferretti
12

 
 
 






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 SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 
 
 
 
/s/
Richard S. Lochen, Jr.
Dated: January 12, 2007
 
By: Richard S. Lochen, Jr.
President & CEO
 
 
 
 
 
 
 
/s/
Debra E. Dissinger
Dated: January 12, 2007
 
By: Debra E. Dissinger
Executive Vice President/COO
 
 
 
 
 
 
 
/s/
Joseph M. Ferretti
Dated: January 12, 2007
 
By: Joseph M. Ferretti
Vice President/CCO
 
 
 
 
 
 
 
/s/
Frederick J. Malloy
Dated: January 12, 2007
 
By: Frederick J. Malloy
Asst. Vice President/Controller
 
 
 
 
 

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