Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 326

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 326
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 or decrease the rate of interest paid on time deposits or on certificates of deposit, except in the ordinary course of
business and in a manner, and pursuant to policies, consistent with past practices;

A-40

(xv) take any action that is intended or may reasonably be expected to result in any of the
conditions to the Merger set forth in Article 7 or Article 8 not being satisfied;

(xvi) make any equity investment or commitment to make
such an investment in real estate or in any real estate development project, other than in connection with foreclosures, settlements in lieu of foreclosure or troubled loan or debt restructuring in the ordinary course of business;

(xvii) purchase or sell or otherwise acquire any investment securities other than those issued by the U.S. Treasury, a U.S. agency or
government sponsored enterprise with a maximum remaining maturity of five years or less;

(xviii) commence any cause of action or
proceeding other than in accordance with past practice or settle any action, claim, arbitration, complaint, criminal prosecution, demand letter, governmental or other examination or investigation, hearing, inquiry or other proceeding against it for
material money damages or material restrictions upon any of their operations;

(xix) waive, release, grant or transfer any material
rights of value or modify or change in any material respect any existing agreement or indebtedness to which it is a party, other than in the ordinary course of business, consistent with past practices;

(xx) enter into, renew, extend or modify any other transaction (other than a deposit transaction) with any Affiliate;

(xxi) except for swaps entered into in the ordinary course of business with customers to hedge their interest rate exposure, enter into any
futures contract, option, interest rate caps, interest rate floors, interest rate exchange agreement or other agreement, or take any other action for purposes of hedging the exposure of its interest-earning assets and interest-bearing liabilities to
changes in market rates of interest;

(xxii) except for the execution of this Agreement, and actions taken or which will be taken in
accordance with this Agreement and performance thereunder, take any action that would give rise to a right of payment to any individual, other than salary earned for prior service;

(xxiii) make any change in policies in existence on the date of this Agreement with regard to: the extension of credit, or the establishment
of reserves with respect to the possible loss thereon or the charge off of losses incurred thereon, investments, asset/li