---
schema_version: "secwatch.filing_event.v1"
accession: "0000826154-24-000179"
form_type: "8-K"
ticker: "ORRF"
cik: "0000826154"
company_name: "ORRSTOWN FINANCIAL SERVICES INC"
filed_at: "2024-07-11T23:59:59+00:00"
generated_at: "2026-05-31T21:57:11.531578+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Orrstown enters salary continuation agreement with COO Kauffman ($357K/yr) and amends CEO Quinn's benefit

## Summary
- New agreement for EVP/COO Craig L. Kauffman provides annual retirement benefit of $357,260 payable in monthly installments over 15 years.
- Amendment for CEO Thomas R. Quinn, Jr. increases his annual benefit by 0.3274% per month for each full month past his normal retirement age (65, reached April 2024), up to 60 months.
- Benefits are triggered by retirement, disability, change in control, or death; forfeiture for cause or competition.

## SEC filing metadata
- accession: 0000826154-24-000179
- form_type: 8-K
- ticker: ORRF
- cik: 0000826154
- company_name: ORRSTOWN FINANCIAL SERVICES INC
- filed_at: 2024-07-11T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826154/000082615424000179/0000826154-24-000179-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826154/000082615424000179/orrf-20240708.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826154-24-000179
- JSON: https://secwatch.observer/filing/0000826154-24-000179.json
- Plain text: https://secwatch.observer/filing/0000826154-24-000179.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.