Peoples Financial amends SERP for former president Tulaney, adds lifetime annuity benefit

PEOPLES FINANCIAL SERVICES CORP.

Amendment effective Aug 28, 2026 to SERP with former President Thomas P. Tulaney.
Bank purchased Nationwide Life annuity contract #073044905 to fund the benefit.
After 20-year normal retirement benefit, Bank pays monthly for Tulaney's life equal to annuity payout.
If Tulaney dies during 20-year period, remaining benefits go to beneficiary; no further annuity payments.
Bank remains sole owner of annuity contract, subject to creditors' claims.

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