Leadership & Pay ·
Franklin Financial Services Corporation filed an 8-K disclosing a First Amendment to the employment agreement of…
FRAFFranklin Financial Services Corp
Franklin Financial Services Corporation filed an 8-K disclosing a First Amendment to the employment agreement of Charles B. Carroll, effective August 17, 2026. The amendment updates Carroll's title from Executive Vice President and Chief Operating Officer to President and Chief Operating Officer of Farmers and Merchants Trust Company. It establishes a three-year initial term with automatic one-year renewals unless notice is given 180 days prior. The filing defines 'Agreed Compensation' as the highest annual base salary plus the average cash bonuses from the preceding three years. In the event of termination following a Change in Control, Carroll is entitled to a lump sum payment up to 2.99 times Agreed Compensation and two years of continued health benefits. Franklin Financial Services Corporation operates in the banking industry.