Salary. The Company will pay you a salary at the rate of ​ per year, payable in accordance with the Company’s standard payroll schedule, prorated in accordance with time spent working and subject to applicable deductions and withholdings. This salary will be subject to periodic review and adjustments at the Company’s discretion.

Salary. For services rendered hereunder, the Company shall pay Employee a base salary at the per annum rate of $325,000 less standard payroll deductions and withholdings, and payable in accordance with the Company’s regular payroll schedule. Employee’s base salary (as well as his eligibility for incentive equity grants) shall be subject to annual review and his base salary may, at the discretion of the Company’s Board of Directors, be increased from time to time.

Salary. During the Employment Period, Executive shall be paid a base salary at the rate of $184,000 per year, payable bi-weekly at such times as salaries are paid to other executive officers of Penns Woods. The Board of Directors of Penns Woods, or applicable Boad Committee, shall review Executive’s base salary annually and may, from time to time, in its discretion increase Executive’s base salary. Any and all such increases in base salary shall be deemed to constitute amendments to this subsection to reflect the increased amounts, effective as of the dates established for such increases by appropriate corporate action.

Salary. Loggenberg will be paid a base salary of ​ per year, payable in installments according to the ​'s regular payroll schedule. The base salary shall be adjusted in January following each year of employment at the discretion of the board of directors, with minimum salary increase on an annual basis determined by the same formula and factors the ​ and ​ use for other upper management positions.

Salary. For all services rendered by Executive under this Agreement Employer shall pay Executive a salary at the rate of ​ per year. Executive’s salary shall be payable bi-weekly in accordance with Employer’s usual practice for its officers. Performance reviews shall be conducted every calendar year. Salary increases shall be considered at each year end and shall be awarded at the discretion of the Board of Directors of Employer.

Salary. During the Employment Term, ​ shall pay you a base salary at the annual rate of ​ per annum. The Compensation Committee of the Board (the “Compensation Committee”) will review your salary at least annually and may increase (but not decrease, including from a level to which it was increased following the Start Date) the base salary. The result of any such annual review shall be reported to you by the Compensation Committee promptly after it occurs. The amount of annual base salary actually paid to you will be reduced to the extent you elect to defer such salary under the terms of any deferred compensation or savings plan or arrangement maintained or established by ​. Your annual base salary payable hereunder, without reduction for any amounts deferred as described in the preceding sentence, is referred to herein as the “Salary.” ​ shall pay the portion of the Salary not deferred at your election in accordance with its generally applicable payroll practices for senior executives of ​, but not less frequently than in equal monthly installments.

Salary. For services to be rendered hereunder, Executive shall continue to receive a base salary at the rate of [Number] ($ ) per year (the “Base Salary”),

"Adverse Event" means that the Executive has experienced an event that has a material adverse impact on Executive’s job position, responsibilities, duties, authorities, compensation or opportunities within the Company. An Adverse Event shall be considered "material" under this Paragraph I.A when: # the Executive experiences any reduction in base salary; # the Executive experiences a reduction in salary range or opportunity for increases in salary; # the Executive experiences a reduction in incentive compensation range or opportunity; # there is a material reduction in the Executive’s executive benefits or perquisites; # the Executive is reassigned to a position or role with a lower salary range, salary opportunity, incentive range or incentive opportunity; or # the Executive experiences a material reduction in responsibilities.

"Base Salary" shall mean Executive's regular basic annual rate of compensation prior ​ any reduction therein under a salary reduction agreement pursuant ​ [Section 401(k)] or Section 125 of the Code, and shall not include (without limitation) cost of living allowances, fees, retainers, reimbursements, bonuses, incentive awards, prizes or similar payments.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior irrevocable written notice from the Borrower to the Administrative Agent, to permanently reduce, without premium or penalty, # the entire Revolving Credit Commitment at any time or # portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination. Notwithstanding the foregoing, any notice to reduce the Revolving Credit Commitment delivered in connection with any refinancing of all of the Credit Facility with the proceeds of such refinancing or of any incurrence of Indebtedness or the occurrence of some other identifiable event or condition, may be, if expressly so stated to be, contingent upon the consummation of such refinancing or incurrence or occurrence of such identifiable event or condition and may be revoked by the Borrower in the event such contingency is not met (provided that the failure of such contingency shall not relieve the Borrower from its obligations in respect thereof under [Section 5.9]).