CZFS enters change-in-control agreement with CFO Guillaume: 1x salary, 18-mo benefits

CITIZENS FINANCIAL SERVICES INC

CFO Guillaume receives lump sum of 1x annual base salary upon qualifying termination after change-in-control.
Health insurance and long-term disability coverage continued for 18 months post-termination.
Payments reduced to avoid Section 280G excise tax; six-month delay under Section 409A if required.
Qualifying termination includes termination without cause or resignation for good reason within one year post-change.
Change in control defined as 50% ownership change, board majority change, or merger/asset sale.

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