Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 169

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 169
---
Non-Competition Restrictions”). In consideration of
Mr. Amin’s obligations, agreements and covenants under this agreement, Norwood agrees to pay to the Executive the aggregate sum of One Million and Two Hundred and Forty-Four Thousand and Three Hundred and Ninety-Eight Dollars
($1,244,398.00) (the “Consideration”) payable simultaneous with the closing of the Merger. Such payment shall be subject to applicable tax withholding as may be deemed necessary by Norwood. Upon the execution of this agreement on
July 7, 2025 by the parties, Mr. Amin has irrevocably waived any compensation which might otherwise become due and payable from PB Bankshares, Presence Bank, Norwood or Wayne Bank to him in accordance with the Employment 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

108

PB Bankshares, Presence Bank, Norwood or Wayne Bank upon or following the merger. Further, Mr. Amin agrees that the Consideration 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. Amin by Norwood or Wayne Bank, shall be deemed an “excess parachute payment” for purposes of
Section 280G of the Internal Revenue Code of 1986, as amended (“Code”), thereby subjecting Mr. Amin to liability for the payment of the excise tax provided at Section 4999(a) of the Code.

During the three-year restriction period, Mr. Amin also will not, in any manner, directly or indirectly (without the prior written
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