SEC Contract Filing

Filing Date: 2023-03-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.20
<SEQUENCE>3
<FILENAME>cvly-20221231xex10_20.htm
<DESCRIPTION>EX-10.20
<TEXT>
<!--HTML document created with Certent Disclosure Management 22.4.0.1-->
<!--Created on: 3/14/2023 4:19:57 PM-->
<html>
	<head>
 <title>
 Exhibit 1020
 </title>
	</head>
	<body><div style="margin-left:72pt;margin-right:72pt;"><div style="width:100%">

 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

 &nbsp;

 </p>

</div>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <a name="_GoBack"></a><font style="display: inline;font-weight:bold;">2017 LONG-TERM INCENTIVE PLAN</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">OF</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">CODORUS VALLEY BANCORP, INC.</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">(As Amended February 14, 2023)</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">ARTICLE I</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">GENERAL PROVISIONS</font>
 </p>
 <p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;font-weight:bold;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">1.1</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">PURPOSES</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">The purposes of the 2017 Long-Term Incentive Plan (the "Plan") are to advance the long-term success of Codorus Valley Bancorp, Inc. (the "Company" or "Codorus"), and to increase shareholder value by providing the incentive of long-term stock-based awards and cash awards to officers, non-employee directors and key employees.&nbsp;&nbsp;The Plan is designed to:&nbsp;&nbsp;(i) encourage stock ownership by Participants (hereinafter defined) to further align their interests with the interests of shareholders of the Company, (2) ensure that compensation practices are competitive in the industry and (3) assist in the attraction and retention of key employees vital to the Company's long-term success.</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">1.2</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">DEFINITIONS</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">For the purpose of the Plan, the following terms shall have the meanings indicated:</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">(a)</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">"Board" means the Board of Directors of the Company.</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;">&#xFEFF;</font>
 </p>
 <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
 <font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">(b)</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-le