Exhibit 10.1
CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT
THIS CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT (“Agreement”) is made and entered into this 9th day of January 2023 (the “Execution Date”) by and between James R. Gordon (the “Executive”) and First Financial Bankshares, Inc. and any and all parent, subsidiary, or affiliated entities, companies, partnerships, successors, and assigns, and all of its past, present, and future partners, officers, directors, managers, agents, administrators, trustees, insurers, successors, employees, and legal counsel (collectively hereinafter referred to as the “Bank”). The Executive and the Bank are collectively referred to herein as the “Parties” and each is a “Party.”
WHEREAS, the Executive resigned from his employment with the Bank effective as January 9, 2023;
WHEREAS, the Executive and the Bank desire to enter into this Agreement to clarify and resolve any issues that may exist between them arising out of the employment relationship between the Parties and its termination, and any continuing obligations of the Parties to one another following the end of the employment relationship.
NOW THEREFORE, in consideration of the mutual covenants, terms and conditions herein contained, and other good and valuable consideration, the sufficiency of which the Parties acknowledge, the Parties agree as follows:
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Notwithstanding anything to the contrary in this Agreement, this release does not constitute a release or waiver of any claim by the Executive (i) for unemployment or workers’ compensation, (ii) for vested rights under ERISA-covered employee benefit plans as applicable on the date the Executive signs this Agreement, (iii) in connection with any deposits (as defined in 12 U.S.C. § 1813(l) of the Executive at the Bank, or (iv) that may arise after the Executive signs this Agreement. Further, and notwithstanding anything to the contrary in this Agreement, this release does not constitute a release or waiver of the Executive’s right to file a charge or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission (“EEOC”), the National Labor Relations Board (“NLRB”), or any other governmental entity with jurisdiction to regulate employment conditions or relations, or from reporting possible violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission (“SEC”), Congress, or any agency Inspector General, or from making other disclosures that are protected under the whistleblower provisions of federal law or regulation; however, the Executive does release and relinquish any right to receive any money, property, or any other thing of value, or any other financial benefit or award from the Released Parties as a result of any proceeding of any kind or character initiated by the EEOC, NLRB, SEC, or any other governmental entity with jurisdiction to regulate employment conditions or relations. Further, and as set forth in Paragraph 14 below, the Executive represents that he is unaware of any act or omission on the part of the Bank that may constitute a violation of any law, nor does he know of any basis on which any third party or governmental entity could assert such a claim.
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F. Scott Dueser, President and Chief Executive Officer
First Financial Bankshares, Inc.
P.O. Box 701
Abilene, Texas 79604-0701
sdueser@ffin.com
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THE EXECUTIVE ACKNOWLEDGES THAT HE HAS READ THIS AGREEMENT, UNDERSTANDS IT AND IS VOLUNTARILY ENTERING INTO THIS AGREEMENT.
PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.
**THIS SPACE INTENTIONALLY LEFT BLANK – SIGNATURE PAGE FOLLOWS**
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the earliest date written below.
EXECUTIVE:
/s/ James R. Gordon
James R. Gordon
Date: January 9, 2023
FIRST FINANCIAL BANKSHARES, INC.
/s/ F. Scott Dueser
F. Scott Dueser
Date: January 9, 2023
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