Letter Agreement Amendment to Employment Agreement and Change in Control Continuity Agreement, dated as of October 26, 2023, by and among CapStar Financial Holdings, CapStar Bank and Kenneth E. Webb
Exhibit 10.2
October 26, 2023
Dear Ken,
This letter agreement (this Letter Agreement) memorializes our discussions and agreement concerning certain modifications to (a) the Employment Agreement, entered into as of June 1, 2022, by and among CapStar Financial Holdings (the Company), CapStar Bank (the Bank) and you (the Employment Agreement) and (b) the Change in Control Continuity Agreement, entered into as of June 1, 2022, by and among the Company, the Bank and you (the CIC Agreement).
1. Amendment to Severance Multiple. For purposes of both the Employment Agreement and the CIC Agreement, the term Severance Multiple is hereby amended and restated as follows:
Severance Multiple shall mean one and one-half (1.5).
2. Miscellaneous. This Letter Agreement constitutes an amendment of the Employment Agreement and the CIC Agreement. Except as provided herein, the Employment Agreement and the CIC Agreement shall continue to apply in accordance with their respective terms.
[Signature Page Follows]
Please indicate your agreement with the foregoing terms of this Letter Agreement by signing where indicated below.
Sincerely, | ||
CAPSTAR FINANCIAL HOLDINGS | ||
By: | /s/ Timothy K. Schools | |
Name: | Timothy K. Schools | |
Title: | President and CEO | |
CAPSTAR BANK | ||
By: | /s/ Timothy K. Schools | |
Name: | Timothy K. Schools | |
Title: | President and CEO |
Acknowledged and Agreed:
/s/ Ken Webb |
Ken Webb |
[Signature Page to Letter Agreement]