| NATIONAL                PENN BANCSHARES, INC.LONG-TERM                INCENTIVE COMPENSATON                PLAN  RESTRICTED                STOCK AGREEMENTBETWEENNATIONAL                PENN BANCSHARES, INC.AND |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| _____________________(the                Grantee)                                                                                                                                                                      |
| Date                of Grant:                                                                                                                                                                                | February                25, 2008 |
| Number                of Shares:                                                                                                                                                                   | 1,600                shares |
| End                of Restricted Period     (Vesting                Period):                                                                                                        | February                25, 2009 |
|                                                                                                                                                                                                                        |   |

----

| ·                  | Threshold | $                1.20 per share | 1,400 |
|------------------------------|-----------|---------------------------------|-------|
| ·                  | Target    | $                1.33 per share | 1,500 |
| ·                  | Optimum   | $                1.44 per share | 1,600 |

----

| NATIONAL                PENN BANCSHARES, INC.:                                                                                                                           | GRANTEE:                                                          |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|
| By:                _____________________________                                                                                                                         | ____________________________________                              |
|        J.                Ralph Borneman, Jr.       Chairman,                Compensation Committee | (Signature)                                                       |
|                                                                                                                                                                     | ___________________________________(Print                Name     |
|                                                                                                                                                                     | ___________________________________(Print                Address) |
|                                                                                                                                                                     |                                                              |