| NATIONAL                PENN BANCSHARES, INC.LONG-TERM                INCENTIVE COMPENSATON                PLAN  RESTRICTED                STOCK AGREEMENT BETWEEN NATIONAL                PENN BANCSHARES, INC. AND |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| _____________________(the                Grantee)                                                                                                                                                                                        |
| Date                of Grant:                                                                                                                                                                                                       |                   February 25, 2008 |
| Number                of Shares:                                                                                                                                                                                                    |                   400 shares |
| End                of Restricted Period   (Vesting                Period):                                                                                                                                      |                   February 25, 2009 |
|                                                                                                                                                                                                                                          |   |

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| ·   | Threshold                - $1.20 per                share                                                                                     350 |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Stretch                Target - $1.33 per                share                                                                               375 |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Optimum                - $1.44 per                share                                                                          400 |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                          5. |   | Committee |
|------------------------------------------------------------------------------------|--------|-----------|

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