Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 168

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 168
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 a pro rata annual bonus payment. The employment
agreement includes non-competition and non-solicitation provisions for the benefit of Norwood and Wayne Bank to expire the later of (i) one year after termination
of employment (in the case of non-solicitation) and (ii) six-months (in the case of non-competition), or the expiration date
of the restrictions under the Non-Competition and Non-Solicitation Agreement among Mr. Byers, Norwood and Wayne Bank commencing on the effective date of the merger.
Mr. Byers will also have use of an automobile suitable for business use .

As of July 30, 2025, Mr. Byers also entered into
a three-year Non-Competition and Non-Solicitation Agreement with Norwood and Wayne Bank. Such agreement provides that for a period of three-years following the merger,
Mr. Byers will adhere to the Non-Competition Restrictions and Non-Solicitation Restrictions referenced above as applicable to Mr. Amin. In consideration of
Mr. Byers’ obligations, agreements and covenants under this agreement, Norwood agrees to pay to Mr. Byers the sum of $75,000.00 as of the date which is six (6) months following the Effective Time of the Merger, plus the sum of
$75,000.00 on the one-year anniversary of the date of such payment and the sum of $75,000 on the two-year anniversary of the date of such payment thereafter (the
“Consideration”); provided that Mr. Byers is in compliance with the terms of this agreement at the time of each such payment. In accordance with the agreement, Mr. Byers irrevocably waives

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any compensation which might otherwise become due and payable from PB Bankshares, Presence Bank, Norwood or Wayne Bank to him in accordance with his Change in Control Agreement between him and
Presence Bank, dated March 1, 2021, with regard to any possible severance payments associated with any future termination of his employment with PB Bankshares, Presence Bank, Norwood or Wayne Bank upon or following the merger. Further,
Mr. Byers agrees that the payments under this agreement shall be reduced in such manner and to such extent, but not below zero dollars, so that no such payments made in good faith hereunder when aggregated with all other payments to be made to
Mr. Byers by Norwood or Wayne Bank shall be deemed an “