CEO Scovill extends term to April 2027; receives 20,000 restricted stock shares as retention incentive

CITIZENS & NORTHERN CORP

Term extended through April 30, 2027; one-time grant of 20,000 restricted shares vests on that date, accelerating on termination without cause or for good reason.
Upon termination without cause or for good reason, all outstanding equity grants continue vesting; performance-based awards prorated based on days served.
Annual base salary maintained at $592,000; eligible for annual bonus, car allowance, country club dues, and employee benefits.
Change-in-control termination triggers lump sum of 2.99x highest annual compensation plus 36-month continuation of health/welfare benefits.

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