Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 167

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 167
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consent of Norwood or Wayne Bank: (1) solicit any Client, as defined in the agreement, to transact business with a Competitive Enterprise or to reduce, end, diminish or refrain from doing any business with Norwood or any of its subsidiaries, or
had previously done business with PB Bankshares or Presence Bank, whether or not such entity has continued its relationship with Norwood or Wayne Bank after the Merger, (2) transact business with any Client that would cause Mr. Amin or his
associates to be a Competitive Enterprise, or (3) interfere with or damage any relationship between Norwood or any of its subsidiaries and a Client, including a prior Client of PB Bankshares or Presence Bank, whether or not such entity has
continued its relationship with Norwood or Wayne Bank after the Merger. Also, he will not solicit anyone who is then an employee of Norwood or any of its subsidiaries (or who was an employee of Norwood or any of its subsidiaries, including PB
Bankshares and Presence Bank prior to the Merger, within the prior 12 months) to resign from or refrain from renewing or extending their employment or to apply for or accept employment with any other business or enterprise other than Norwood or any
of its subsidiaries (collectively, the “Non-Solicitation Restrictions”).

Employment Agreements and Non-Competitionand Non-SolicitationAgreements with Other Executive Officers

Mr. Byers:

As of July 30, 2025, Mr. Byers entered into a three-year employment agreement with Norwood and Wayne Bank, which supersedes
Mr. Byers’ current change in control agreement with Presence Bank. In accordance with this employment agreement, Mr. Byers will serve as Executive Vice President and Market President, Central Pennsylvania, of the combined companies
following the completion of the merger with an annual base salary of $230,000. In addition, during the term of the agreement, Mr. Byers will be eligible to receive annual and long-term incentive awards on a discretionary basis. If
Mr. Byers’s employment is terminated without cause or if Mr. Byers terminates his employment for good reason (as defined in the agreement), he would be entitled to receive a lump sum payment equal to his then annual base salary. If
such termination of employment occurs in connection with a future change in control of Norwood or Wayne Bank, Mr. Byers would receive a severance payment equal to two times his base salary plus