Franklin Financial amends President Carroll's employment agreement; term extended to 3 years

FRANKLIN FINANCIAL SERVICES CORP /PA/

Amendment effective Aug 17, 2026 extends Carroll's term to 3 years with auto-renewal.
Agreed Compensation defined as highest base salary plus average of last 3 years' cash bonuses.
Change-in-control severance: lump sum up to 2.99x Agreed Compensation, 2 years benefits continuation.
Includes appraisal of non-compete/non-solicit for 280G parachute reduction and limited gross-up.
Carroll promoted to President and COO of the Bank (from EVP/COO).

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