Chairman Critelli retires as employee; signs consulting deal through Dec 2022 with $20K/mo retainer

NORWOOD FINANCIAL CORP

Consulting agreement effective July 1 to Dec 31, 2022; extends $1,500/mo stipend through restricted period.
Monthly retainer of $20,000 plus $1,500 for insurance and technology costs.
Non-compete covers PA (Lackawanna, Luzerne, Monroe, Pike, Wayne) and NY (Delaware, Sullivan, Ontario, Otsego, Yates) counties.
Critelli continues as director and receives director compensation and retirement benefits.

item 5.02 item 9.01

Executive movements

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Role change

Lewis J. Critelli

Chairman of the Board of Directors

NWFL · NORWOOD FINANCIAL CORP

Effective: 2022-06-30
Filed: July 5, 2022, 7:59 PM ET

As of June 30, 2022, Mr. Critelli retired as an employee of the Company and Wayne Bank, the Company’s wholly-owned subsidiary (the “Bank”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Lewis J. Critelli retired as Chairman of the Board of Directors at NORWOOD FINANCIAL CORP.

Action: retired
Role: Chairman of the Board of Directors

Exact text from the filing

As of June 30, 2022, Mr. Critelli retired as an employee of the Company and Wayne Bank, the Company’s wholly-owned subsidiary (the “Bank”).

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NORWOOD FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001193125-22-187738

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