Exhibit 10.3

 

RENEWAL OF

 

EMPLOYMENT AGREEMENT BETWEEN

 

GREGORY A. DUNCAN AND

 

SUSQUEHANNA BANCSHARES, INC.

 

As of February 28, 2004, the employment of Gregory A. Duncan is hereby deemed to
be renewed for three (3) years under the terms and conditions per the Employment
Agreement dated March 12, 2001 (but effective as of February 28, 2001), as
amended.

 

The base salary as per Section 4.1 will be $316,020.00 per year.

 

           

SUSQUEHANNA BANCSHARES, INC.

Attest:

           

/s/ Lisa M. Cavage

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By:

 

/s/ Edward Balderston, Jr.

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Secretary and Counsel

     

Edward Balderston, Jr.

           

EVP & Chief Administrative Officer

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