Bonus and Paid-Time-Off Payments. The Company will pay the Executive:

Paid Time Off. Employee will receive 25 days of paid time off (“PTO”) (including vacation, sick, personal time off and company holidays) per calendar year, which shall be taken in accordance with Company policies as in effect from time to time, which may be modified in the sole discretion of the Company, and applicable law. The Company will additionally provide Employee with any paid or unpaid leave and any other benefits to which Employee is entitled and eligible to receive under applicable federal, state, and or local law.

Paid Time Off. During the Term, in addition to holidays observed by the Company, Executive shall be entitled to take such paid time off (“PTO”) in his discretion, so long as it does not interfere with his effective performance of his duties and responsibilities hereunder.

Paid Time Off. During the Employment Period, the Executive shall be entitled to paid time off in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120‑day period immediately preceding the Change of Control Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

Paid Time Off. During the Employment Period, Executive shall be entitled to such paid time off as may be determined in accordance with the personnel policies of Penns Woods from time to time in effect. Executive shall not be entitled to receive any additional compensation for failure to take all of his entitled paid time off, nor shall Executive be able to accumulate unused paid time off from one year to the next, unless otherwise provided by the personnel policies of Penns Woods from time to time in effect.

Accrued Paid Time Off. On or before the next regular payroll date following the Separation Date, Employee shall receive payment for five weeks of paid time off (PTO), less any PTO actually taken between January 1, 2023 and the Separation Date.

•Time Off: In addition to paid Company holidays, you are eligible for paid time off according to your tenure with the company.

i. ​ paid in four equal installments (each equal to ​) on the first day of each of the first four (4) calendar months following the submission of the first Investigational New Drug Application (“IND”) to the Food and Drug Administration (“FDA”) or an equivalent application to a regulatory agency anywhere in the world, for a Product.

Paid Leave. During the Term, Employee shall be entitled to twenty-four (24) days paid leave time each calendar year, which paid leave time will accrue in accordance with the Company’s then-existing policies, or monthly in the absence of any applicable policies.

“Bonus Compensation” means short-term bonus or incentive payments designated by the Committee and subject to taxation in the United States of America, provided, however, that such short-term bonus or incentive payments shall be considered Bonus Compensation in the year earned and not in the year paid.