EMPLOYMENT AGREEMENT


 


 


THIS
AGREEMENT is made as of the 28th day of October 2022, by and among ENB Financial Corp (“Corporation”), The Ephrata
National Bank (“Bank”), and Rachel G. Bitner (“Executive”), an adult individual residing at 740 Dustin
Drive, Lancaster, PA 17601.


 


WITNESSETH:


 


WHEREAS, the Corporation is a bank
holding company;


 


WHEREAS, the Bank is a subsidiary of
the Corporation;


 


WHEREAS, the Corporation and the Bank
wish to employ the Executive as Executive Vice President/Chief Financial Officer and Treasurer in accordance with the terms and conditions
set forth herein;


 


WHEREAS, Executive is not a party nor subject
to any employment, noncompete, non-solicitation or restrictive covenant agreements, or any other restrictions or agreements that would
hinder or limit his ability to fully perform his duties hereunder, except as identified on Schedule I attached hereto and deemed an integral
part hereof;


 


WHEREAS, as additional consideration for entering
into this Agreement, the Corporation is providing the Executive with a Restricted Stock Unit Grant of the Corporation’s Common Stock
as delineated on Schedule 2 hereto; and


 


WHEREAS, Executive wishes to
serve the Corporation and the Bank in accordance with the terms and conditions herein.


 


AGREEMENT:


 


NOW THEREFORE, in consideration
of the mutual covenants herein, the parties hereto, intending to be legally bound, agree as follows:


 


		1.	Employment. The Corporation and the Bank hereby employ Executive and Executive hereby accepts employment with the Corporation
and the Bank, under the terms and conditions set forth in this Agreement.



 


		2.	Duties of Executive. Executive shall serve as the Executive Vice President/Chief Financial Officer and Treasurer of
the Corporation and of the Bank reporting only to the President and CEO, and to the Board of Directors, or committee thereof, as may be
required by law, rule or regulation. Executive shall have such other duties and hold such other titles as may be given to her from time
to time by the Boards of Directors of the Corporation and the Bank provided that such duties are consistent with the Executive’s
position as Executive Vice President/Chief Financial Officer and Treasurer.



 



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		3.	Engagement in Other Employment. Executive shall devote all of her working time, ability and attention to the business
of the Corporation and the Bank and/or their subsidiaries or affiliates, during the term of this Agreement. The Executive shall seek approval
of the President and CEO of the Corporation and of the Bank in writing before the Executive engages in any other business or commercial
duties or pursuits, including but not limited to, directorships of other companies. Under no circumstances may the Executive engage in
any business or commercial activities, duties or pursuits which compete with the business or commercial activities of the Corporation,
the Bank and/or any of their subsidiaries or affiliates nor may the Executive serve as a director or officer or in any other capacity
in a company which competes with the Corporation, the Bank and/or any of their subsidiaries
or affiliates. Executive shall not be precluded, however, upon written notification to the President and CEO, from engaging in voluntary
or philanthropic endeavors, from engaging in activities designed to maintain and improve her professional skills, or from engaging in
activities incident or necessary to personal investments, so long as they are, in the President and CEO’s reasonable opinion, not
in conflict with or detrimental to the Executive’s rendition of services on behalf of the Corporation, the Bank and/or any of their
subsidiaries or affiliates.





 


		4.	Term of Agreement.



 


		(a)	This Agreement shall be for a three (3) year period (the “Employment Period”) beginning October 28, 2022, and if not previously
terminated pursuant to the terms of this Agreement, the Employment Period shall end three (3) years later (the “Initial Term”).
The Employment Period shall be extended automatically for successive three (3) year terms after the expiration of the Initial Term (each
successive term shall be referred to as a “Renewal Term”) unless the Corporation, the Bank, or Executive gives written notice
on non-renewal of this Employment Agreement to the other not less than one hundred eighty (180) days before the expiration of the Initial
Term or any Renewal Term, the Employment Period shall be and continue for a three (3) year period thereafter. References in the Agreement
to “Employment Period” shall refer to the Initial Term of this Agreement and any Renewal Term. It is the intention of the
parties that this Agreement be “Evergreen” unless (i) either party gives written notice to the other party of his or its intention
not to renew this Agreement as provided above or (ii) this Agreement is terminated pursuant to Section 4(b) hereof.



 


		(b)	Notwithstanding the provisions of Section 4(a) of this Agreement, this Agreement shall terminate automatically for Cause (as defined
herein) upon written notice from the Board of Directors of the Corporation or the Bank to Executive. As used in this Agreement, “Cause”
shall mean any of the following:



 



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(i)       Executive’s
conviction of or plea of guilty or nolo contendere to a felony, a crime of falsehood or a crime involving moral turpitude, or the actual
incarceration of Executive;


 


(ii)       Executive’s
failure to follow the good faith lawful instructions of the Boards of Directors or the President and CEO of the Corporation or the Bank
with respect to their operations;


 


(iii)       Executive’s
willful failure to substantially perform Executive’s duties to the Corporation or the Bank, other than a failure resulting from
Executive’s incapacity because of physical or mental illness, as provided in subsection (d) of this Section 4;


 


(iv)       Executive’s
intentional violation of the provisions of this


Agreement;


 


(v)       dishonesty
or gross negligence of the Executive in the performance of her duties;


 


(vi)       Executive’s
removal or prohibition from being an institutional-affiliated party by a final order of an appropriate federal banking agency pursuant
to Section 8(e) or 8(g) of the Federal Deposit Insurance Act or by any state or federal regulatory agency or any other correspondence
from the Bank’s regulators instructing the Bank to terminate, remove or limit the authority or activities of the Executive;


 


(vii)       conduct
by the Executive as determined by an affirmative vote of seventy-five percent (75%) of the disinterested members of the Board of Directors
of the Corporation which brings public discredit to the Corporation or the Bank and which results or may be reasonably expected to result
in material financial or reputational harm to the Corporation or the Bank;


 


(viii)       Executive’s
breach of fiduciary duty involving personal profit;


 


(ix)unlawful harassment by the Executive
against employees, customers, business associates, contractors, or vendors of the Corporation or the Bank, as determined by an affirmative
vote of seventy-five percent (75%) of the disinterested members of the Board of Directors of the Corporation;


 


(x)       the
willful violation by the Executive of the provisions of Sections 9, 10, or 11 hereof, after notice from the Corporation;


 



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(xi)       the
willful violation of any law, rule or regulation governing banks or bank officers or any Bank policy, or receipt of any cease and desist
order issued by a bank regulatory authority;


 


(xii)       theft
or abuse by Executive of the Corporation’s or the Bank’s property or the property of the Corporation’s or the Bank’s
customers, employees, contractors, vendors, or business associates;


 


(xiii)       any
act of fraud, misappropriation or personal dishonesty;


 


(xiv)       insubordination
as determined by an affirmative vote of seventy-five percent (75%) of the disinterested members of Board of Directors of the Corporation,
after written notice from the Corporation and a failure to cure such violation within fifteen (15) days of said written notice;


 


(xv)       the
existence of any material conflict between the interests of the Corporation or the Bank and the Executive that is not disclosed in writing
by the Executive to the Corporation and the Bank and approved in writing by the Boards of Directors of the Corporation and the Bank; or


 


(xvi)       gross
neglect or incompetence in the performance of one’s duties as determined by the affirmative vote of seventy-five percent (75%) of
the disinterested members of the Board of Directors of the Corporation.


 


If this Agreement is terminated for
Cause, all of Executive’s rights under this Agreement shall cease as of the effective date of such termination, except for the rights
under Section 20 hereof with respect to arbitration.


 


		(c)	Notwithstanding the provisions of Section 4(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s
voluntary termination of employment for Good Reason. The term “Good Reason” shall mean (i) the assignment of duties and responsibilities
materially inconsistent with Executive’s status as Executive Vice President/Chief Financial Officer and Treasurer of the Corporation
or of the Bank, (ii) a reassignment which requires Executive to move her principal residence or her office more than twenty five (25)
miles from the Bank’s principal executive office immediately prior to this Agreement, (iii) any removal of Executive from office
or any materially adverse change in the terms, conditions, responsibilities, duties, reporting, compensation, or benefits of Executive’s
employment, except for any termination of Executive’s employment for Cause, or unless in accordance with this Agreement, (iv) any
reduction in the Executive’s Annual Base Salary as in effect on the date hereof or as the same may be increased from time to time
unless such reduction is the result of a reduction applicable to all employees (provided that such reduction does not result in a proportionately
greater adverse change in the Annual Base Salary of Executive as compared with any other executive officers of the Bank or the executive
group of which Executive is a member), or (v) any failure of the Bank to provide the Executive with benefits at least as favorable as
those enjoyed by the Executive during the Employment Period under any of the pension, life insurance, medical, health and accident, disability
or other employee plans of the Bank, or the taking of any action that would materially reduce any of such benefits unless such reduction
is part of a reduction applicable to all employees or the executive group which the Executive is a member of at the time of the change.



 



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Executive shall within sixty (60)
days of the occurrence of any of the foregoing events, provide notice to the Bank of the existence of the condition and provide the Bank
thirty (30) days in which to cure such condition. In the event that the Bank does not cure the condition within thirty (30) days of such
notice, Executive may resign from employment for Good Reason by delivering written notice ("Notice of Termination") to the Bank.


 


If such termination occurs for Good
Reason and such termination constitutes a Separation of Service as defined by Internal Revenue Code of 1986, as amended (“Code”)
Section 409A (“Separation of Service”), then the Bank shall pay Executive an amount equal to the Executive’s remaining
Annual Base Salary that would otherwise be due and payable under the Agreement to the Executive for the remaining Employment Period, minus
applicable taxes and withholdings, payable in equal monthly installments over the remaining Employment Period. Such amount in the aggregate
shall not exceed 2.99 times Executive’s Annual Base Salary or be less than 2.00 times Executive’s Annual Base Salary. In addition,
for a period of two (2) years from the date of Separation of Service, or until Executive secures benefits of comparable coverage through
other employment, whichever shall first occur, Executive shall receive a continuation of all life, disability, medical insurance and other
normal health and welfare benefits in effect or that would otherwise be provided, and available with respect to Executive and her spouse
during the two (2) years prior to her termination of employment at the time of her termination of employment under the terms of and as
provided by the medical insurance plan then in effect in which she and her spouse were participants, or, if the Bank cannot legally provide
such benefits because Executive is no longer an employee, or future law or plans do not permit so, the Bank shall reimburse Executive
in an amount equal to the monthly premium paid by her to obtain comparable coverage for employee benefits which she and her spouse enjoyed
prior to termination, subject to Code Section 409A if applicable.


 


		(d)	Notwithstanding the provisions of Section 4(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s
Disability and Executive’s rights under this Agreement shall cease as of the date of such termination; provided, however, that Executive
shall nevertheless be entitled to receive any amount payable under any disability plan of the Bank for which she is eligible. Disability
shall have the meaning provided in Code Section 409A and the regulations promulgated thereunder.



 



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		(e)	In the event that Executive terminates her employment without Good Reason as defined in Section 4(c), or retires, all of Executive’s
rights under this Agreement shall cease as of the effective date of such termination, except for the rights under Paragraph 20 hereof
with respect to arbitration.



 

		(f)	Upon the expiration or termination of the Employment Period and this Agreement, all of Executive’s rights under this Agreement
shall cease; however, the provisions of Paragraphs 9 and 10 shall survive the expiration or termination of the Employment Period and the
termination of this Agreement regardless of reason.



 


		(g)	Executive agrees that in the event her employment under this Agreement is terminated, Executive shall resign and by this Agreement
does upon such event resign as a director of the Corporation and the Bank, or any affiliate or subsidiary thereof, if she is then serving
as a director of any of such entities.



 


		5.	Employment Period Compensation.



 


		(a)	Annual Base Salary. For services performed by Executive under this Agreement, the Bank shall pay Executive an Annual Base Salary
during the Employment Period at the rate of $202,144.80 per year, minus applicable withholdings and deductions, payable at the same times
as salaries are payable to other executive employees of the Bank. The Bank may, from time to time, increase Executive’s Annual Base
Salary or in the event a reduction applicable to all employees reduce Executive’s Annual Base Salary, (provided that such reduction
does not result in a proportionately greater adverse change in the Annual Base Salary of Executive as compared with other executive officers
of the Bank or the executive group of which Executive is a member), and any and all such increases or reductions shall be deemed to constitute
amendments to this Section 5(a) to reflect the increased or reduced amounts, effective as of the date established for such increases or
reductions by the Board of Directors of the Bank or any committee of such Board.



 


		(b)	Bonus. For services performed by Executive under this Agreement, the Bank may, from time to time, pay a bonus or bonuses to
Executive as the Bank or an affiliate thereof, in its sole discretion, deems appropriate. The payment or nonpayment of any such bonuses
shall not reduce or otherwise affect any other obligation of the Bank to Executive provided for in this Agreement. In addition, the Corporation
shall provide (as of the date of execution of this Agreement) the Executive with a Restricted Stock Unit Grant of the Corporation’s
Common Stock as delineated on Schedule 2 hereto.



 



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		(c)	Paid Time-Off. During the term of this Agreement, Executive shall be entitled to Paid Time-Off in accordance with the manner
provided under the paid time-off plan then in effect.



 


		(d)	Employee Benefit Plans. During the term of this Agreement, Executive shall be entitled to participate in or receive the benefits
of any employee benefit plan currently in effect at the Bank, subject to the terms of said plan, until such time that the Board of Directors
of the Bank authorize a change in such benefits. The Bank shall not make any changes in such plans or benefits which would materially
and adversely affect Executive’s rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all
executive officers of the Bank, or the executive group which the Executive is a member of at the time of the change, and does not result
in a proportionately greater adverse change in the rights of or benefits to Executive as compared with any other executive officers of
the Bank or the executive group of which Executive is a member. Nothing paid to Executive under any plan or arrangement presently in effect
or made available in the future shall be deemed to be in lieu of the salary payable to Executive pursuant to Section 5(a) hereof.



 


		(e)	Business Expenses. During the term of this Agreement, Executive shall be entitled to receive prompt reimbursement for all reasonable
expenses incurred by him, which are properly accounted for, in accordance with the policies and procedures established by the Board of
Directors of the Bank for its executive officers.



 


		6.	Termination of Employment Following Change in Control.



 


		(a)	If a Change in Control (as defined in Section 6(b) of this Agreement) shall occur and Executive experiences an involuntary separation
of service as defined in Code Section 409A (“Separation of Service”) without Cause within two (2) years after the Change in
Control, then the provisions of Section 7 of this Agreement shall apply.



 


		(b)	As used in this Agreement, “Change in Control” shall mean the change in ownership or effective control of the Corporation
as further defined by Treasury Regulation §1.409A-3(i)(5).



 


		7.	Rights in Event of Termination Following a Change in Control.



 


		(a)	In the event that Executive is involuntarily terminated without Cause within two (2) years after a Change in Control (as defined in
Section 6(b) of this Agreement) and such termination of employment constitutes a Separation of Service, then the Bank shall pay Executive
a lump sum amount equal to 2.5 times the Executive’s Annual Base Salary, minus applicable taxes and withholdings, payable within
thirty (30) days of Executive’s Separation of Service. In addition, for a period of two (2) years from the date of Separation of
Service, or until Executive secures benefits of comparable coverage through other employment, whichever shall first occur, Executive shall
receive a continuation of all life, disability, medical insurance and other normal health and welfare benefits in effect with respect
to Executive and her spouse during the two (2) years prior to her termination of employment at the time of her termination of employment
under the terms of and as provided by the medical insurance plan then in effect in which she and her spouse were participants, or, if
the Bank cannot legally provide such benefits because Executive is no longer an employee, or future law or plans do not permit so, the
Bank shall reimburse Executive in an amount equal to the monthly premium paid by her to obtain comparable coverage for employee benefits
which she and her spouse enjoyed prior to termination, subject to Code Section 409A if applicable.



 



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		(b)	Executive shall not be required to mitigate the amount of any payment provided for in this Section 7 by seeking other employment or
otherwise. Unless otherwise agreed to in writing, the amount of payment or the benefit provided for in this Section 7 shall not be reduced
by any compensation earned by Executive as the result of employment by another employer or by reason of Executive’s receipt of or
right to receive any retirement or other benefits after the date of termination of employment or otherwise.



 


This Section 7 and the provisions
and terms hereof shall be subject to Sections 19 and 21 of this Agreement.


 


		8.	Rights in Event of Termination of Employment Absent Change in Control.



 


		(a)	In the event that Executive’s employment is involuntarily terminated by the Corporation and the Bank without Cause and no Change
in Control has occurred at the date of such termination and such termination constitutes a Separation of Service, then the Bank shall
pay Executive an amount equal to the Executive’s remaining Annual Base Salary that would otherwise be due and payable under the
Agreement to the Executive for the remaining Employment Period, minus applicable taxes and withholdings, payable in equal monthly installments
over the remaining Employment Period. Such amount in the aggregate shall not exceed 2.99 times Executive’s Annual Base Salary or
be less than 2.00 times Executive’s Annual Base Salary. In addition, for a period of two (2) years from the date of Separation of
Service, or until Executive secures benefits of comparable coverage through other employment, whichever shall first occur, Executive shall
receive a continuation of all life, disability, medical insurance and other normal health and welfare benefits in effect with respect
to Executive during the two (2) years prior to her termination of employment at the time of her termination of employment under the terms
of and as provided by the medical insurance plan then in effect in which she and her spouse were participants, or, if the Bank cannot
legally provide such benefits because Executive is no longer an employee, or future law or plans do not permit so, the Bank shall reimburse
Executive in an amount equal to the monthly premium paid by her to obtain comparable coverage for employee benefits which she enjoyed
prior to termination, subject to Code Section 409A if applicable.



 



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		(b)	Executive shall not be required to mitigate the amount of any payment provided for in this Section 8 by seeking other employment or
otherwise. Unless otherwise agreed to in writing, the amount of payment or the benefit provided for in this Section 8 shall not be reduced
by any compensation earned by Executive as the result of employment by another employer or by reason of Executive’s receipt of or
right to receive any retirement or other benefits after the date of termination of employment or otherwise.



 


This Section 8 and the provisions and terms
hereof shall be subject to Sections 19 and 21 of this Agreement.


 


		9.	Covenant Not to Compete.



 


		(a)	Executive hereby acknowledges and recognizes the highly competitive nature of the business of the Corporation and the Bank and accordingly
agrees that, during employment and for two years following termination of employment regardless of the reason for termination, Executive
shall not, except as otherwise permitted in writing by the Bank:



 


		(i)	(A) in any county in which, as of the date of Executive’s termination, a branch, office or other facility of the Corporation
or the Bank is located or in any county contiguous to such county, or (B) in the area which is within 25 miles from any branch office
or other facility of the Corporation or Bank (“Non-Competition Area”), be engaged, directly or indirectly, either for her
own account or as agent, consultant, employee, partner, officer, director, proprietor, investor (except as an investor owning less than
5% of the stock of a publicly owned company) or otherwise of any person, firm, corporation or enterprise engaged in (1) the banking (including
bank holding company) or financial services industry, or (2) any other activity in which the Corporation or the Bank or any of their subsidiaries
are engaged during the Employment Period;



 


		(ii)	provide financial or other assistance to any person, firm, corporation, or enterprise engaged in (1) the banking (including bank holding
company) or financial services industry, or (2) any other activity in which the Corporation or the Bank or any of their subsidiaries are
engaged during the Employment Period, in the Non-Competition Area;



 



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		(iii)	directly or indirectly solicit persons or entities who were customers or referral sources of the Corporation, the Bank or their subsidiaries
within one (1) year prior to Executive’s termination of employment, to become a customer or referral source of a person or entity
other than the Corporation, the Bank or their subsidiaries; or



 


		(iv)	directly or indirectly solicit employees of the Corporation, the Bank or their subsidiaries who were employed within two (2) years
prior to Executive’s termination of employment to work for anyone other than the Corporation, the Bank or their subsidiaries.



 


		(b)	It is expressly understood and agreed that, although Executive and the Corporation and the Bank consider the restrictions contained
in Section 9(a) hereof reasonable for the purpose of preserving for the Corporation and the Bank and their subsidiaries their good will
and other proprietary rights, if a final judicial determination is made by a court having jurisdiction that the time or territory or any
other restriction contained in Section 9(a) hereof is an unreasonable or otherwise unenforceable restriction against Executive, the provisions
of Section 9(a) hereof shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such
other extent as such court may judicially determine or indicate to be reasonable.



 


		10.	Unauthorized Disclosure. During the term of her employment hereunder, or at any later time, Executive shall not, without
the written consent of the Board of Directors of the Bank or a person authorized thereby, knowingly disclose to any person, other than
an employee of the Corporation or the Bank or a person to whom disclosure is reasonably necessary or appropriate in connection with the
performance by Executive of her duties as an executive of the Bank, any material confidential information obtained by her while in the
employ of the Bank with respect to any of the Corporation’s and the Bank’s services, products, improvements, formulas, designs
or styles, processes, customers, methods of business, strategic, business, capital, or human resource plans, or any business practices
the disclosure of which could be or will be damaging to the Corporation or the Bank; provided, however, that confidential information
shall not include any information known generally to the public (other than as a result of unauthorized disclosure by Executive or any
person with the assistance, consent or direction of the Executive) or any information of a type not otherwise considered confidential
by persons engaged in the same business or a business similar to that conducted by the Corporation and the Bank or any information that
must be disclosed as required by law.



 


		11.	Work Made for Hire. Any work performed by the Executive under this Agreement is considered a “Work Made for Hire”
as the phrase is defined by the Copyright Act of 1976 and shall be owned by and for the express benefit of Bank and its subsidiaries and
affiliates. In the event it is established that such work does not qualify as a Work Made for Hire, the Executive agrees to and does hereby
assign to Bank, and its affiliates and subsidiaries, all of her rights, title, and/or interest in such work product, including, but not
limited to, all copyrights, patents, trademarks, and proprietary rights.



 



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		12.	Return of Company Property and Documents. The Executive agrees that, at the time of termination of her employment, regardless
of the reason for termination, she will deliver to Bank and its subsidiaries and affiliates, any and all company property, including,
but not limited to, keys, security codes or passes, mobile telephones, laptops, electronic notebooks, smart devices, automobiles, strategic,
business, capital or human resource plans, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings,
blueprints, sketches, software programs, equipment, other documents or property, or reproductions of any of the aforementioned items developed
or obtained by the Executive during the course of her employment.



 


		13.	Liability Insurance. The Bank shall obtain liability insurance coverage, if available, for the Executive under an insurance
policy with similar terms as that which is currently covering officers and directors of Bank against lawsuits, arbitrations or other legal
or regulatory proceedings.



 


		14.	Notices. Except as otherwise provided in this Agreement, any notice required or permitted to be given under this Agreement
shall be deemed properly given if in writing and if mailed by registered or certified mail, postage prepaid with return receipt requested,
to Executive’s residence, in the case of notices to Executive, and to the principal executive office of the Bank, in the case of
notices to the Bank.



 


		15.	Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge
is agreed to in writing and signed by Executive and an executive officer specifically designated by the Board of Directors of the Bank.
No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision
of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the
same or at any prior or subsequent time.



 


		16.	Assignment. This Agreement shall not be assignable by any party, except by the Corporation or the Bank to any successor
in interest to its respective businesses.



 


		17.	Entire Agreement. This Agreement supersedes any and all agreements, either oral or in writing, among or between the
parties with respect to the employment of the Executive by the Bank and/or Corporation. This Agreement contains all the covenants and
agreements between the parties with respect to employment and termination of employment.



 



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		18.	Successors; Binding Agreement. 



 


		(a)	The Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially
all of the businesses and/or assets of Bank to expressly assume and agree to perform this Agreement in the same manner and to the same
extent that Bank would be required to perform it if no such succession had taken place. Failure by Bank to obtain such assumption and
agreement prior to the effectiveness of any such succession shall constitute a breach of this Agreement and the provisions of Section
7 of this Agreement shall apply. As used in this Agreement, “Corporation” and “Bank” shall mean Corporation and
Bank, as defined previously and any successor to their respective businesses and/or assets as aforesaid which assumes and agrees to perform
this Agreement by operation of law or otherwise.



 


		(b)	This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors,
administrators, heirs, distributees, devisees and legatees. If Executive should die after a Change in Control or following termination
of Executive’s employment without Cause, and any amounts would be payable to Executive under this Agreement if Executive had continued
to live, all such amounts shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other
designee, or, if there is no such designee, to Executive’s estate.



 


		19.	Code Section 409A



 


		(a)	Any payments made pursuant to this Agreement, to the extent of payments made from the date of termination through March 15th of the
calendar year following such date, are intended to constitute separate payments for purposes of Treas. Reg. §1.409A-2(b)(2) and thus
payable pursuant to the “short-term deferral” rule set forth in Treas. Reg. §1.409A-1(b)(4); to the extent such payments
are made following said March 15th, they are intended to constitute separate payments for purposes of Treas. Reg. §1.409A-2(b)(2)
made upon an involuntary termination from service and payable pursuant to Treas. Reg. §1.409A-1(b)(9)(iii), to the maximum extent
permitted by said provision.



 


		(b)	The parties hereto intend that any and all post-employment compensation under this Agreement satisfy the requirements of Section 409A
or an exception or exclusion therefrom to avoid the imposition of any accelerated or additional taxes pursuant to Section 409A. Any terms
not specifically defined shall have the meaning as set forth in Section 409A.



 



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		(c)	If when the Executive’s employment terminates, the Executive is a “specified employee,” as defined in Code Section
409A(a)(2)(B)(i), then despite any provision of this Agreement or other plan or agreement to the contrary, the Executive will not be entitled
to the payments until the earliest of: (a) the date that is at least six months after the Executive’s Separation from Service for
reasons other than the Executive’s death, (b) the date of the Executive’s death, or (c) any earlier date that does not result
in additional tax or interest to the Executive under Code Section 409A. As promptly as possible after the end of the period during which
payments are delayed under this provision, the entire amount of the delayed payments shall be paid to the Executive in a single lump sum
with any remaining payments to commence in accordance with the terms of this Agreement or other applicable plan or agreement.



 


		(d)	Notwithstanding the foregoing, no payment shall be made pursuant to this Agreement unless such termination of employment is a “separation
of service” as defined in Code Section 409A.



 


		(e)	409A Safe Harbor. Notwithstanding anything in this Agreement to the contrary, in no event shall the
Corporation or Bank be obligated to commence payment or distribution to the Executive of any amount that constitutes nonqualified deferred
compensation within the meaning of Code Section 409A (“Section 409A”) earlier than the earliest permissible date under Section
409A that such amount could be paid without additional taxes or interest being imposed under Section 409A. The Corporation, Bank and Executive
agree that they will execute any and all amendments to this Agreement as they mutually agree in good faith may be necessary to ensure
compliance with the distribution provisions of Section 409A, to be paid or distributed in a single sum payment at the earliest permissible
date under Section 409A. Without limiting the generality of the foregoing, in the event Executive is to receive a payment of compensation
hereunder that is or account of a Separation from Service, such payment is subject to the provisions of Section 409A, and Executive is
a key employee of the Corporation or Bank, then payment shall not be made before the date that is six months after the date of Separation
from Service (or, if earlier than the end of the six month period, the date of the Executive’s death). Amounts otherwise payable
during such six month payment shall be accumulated and paid in a lump sum on the first day of the seventh month. For purposes hereof,
Executive is a key employee of the Corporation or Bank if, on his date of separation from service, the Corporation is publicly traded
and he met the definition key employee found in Code Section 416(i)(1)(A)(i), (ii) or (iii) (disregarding Section 416(i)(5)) as of the
last day of the calendar year preceding the date of separation.



 



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		20.	Arbitration. The Corporation, Bank and Executive recognize that in the event a dispute should arise among or between
them concerning the interpretation or implementation of this Agreement, lengthy and expensive litigation will not afford a practical resolution
of the issues within a reasonable period of time. Consequently, each party agrees that all disputes, disagreements and questions of interpretation
concerning this Agreement (except for any enforcement sought with respect to Sections 9, 10, 11 or 12 which may be litigated in court,
including an action for injunction or other relief) are to be submitted for resolution, in Lancaster, Pennsylvania, to the American Arbitration
Association (the “Association”) in accordance
with the Association’s National Rules for the Resolution of Employment Disputes or other applicable rules then in effect (“Rules”).
The Corporation, Bank or Executive may initiate an arbitration proceeding at any time by giving notice to the other in accordance with
the Rules. The Corporation, Bank and Executive may, as a matter of right, mutually agree on the appointment of a particular arbitrator
from the Association’s pool. The arbitrator shall not be bound by the rules of evidence and procedure of the courts of the Commonwealth
of Pennsylvania but shall be bound by the substantive law applicable to this Agreement. The decision of the arbitrator, absent fraud,
duress, incompetence or gross and obvious error of fact, shall be final and binding upon the parties and shall be enforceable in courts
of proper jurisdiction. Following written notice of a request for arbitration, the Corporation, Bank and Executive shall be entitled to
an injunction restraining all further proceedings in any pending or subsequently filed litigation concerning this Agreement, except as
otherwise provided herein or any enforcement sought with respect to Sections 9, 10, 11 or 12 of this Agreement, including an action for
injunction or other relief.




 


		21.	Code Sections 280G and 4999. In the event the payment described herein, when added to all other amounts or benefits
provided to or on behalf of the Executive in connection with her termination of employment, would result in the imposition of an excise
tax under Section 4999 of the Code, such payments shall be retroactively reduced to the extent necessary to avoid such excise tax imposition.
Upon written notice to Executive, together with calculations from the Corporation, Executive shall remit to Corporation the amount of
the reduction plus such interest as may be necessary to avoid the imposition of such excise tax. Notwithstanding the foregoing or any
other provision of this contract to the contrary, if any portion of the amount herein payable to the Executive is determined to be non-deductible
pursuant to the regulations promulgated under Section 280G of the Code, then Corporation shall be required only to pay to Executive the
amount determined to be deductible under Section 280G.



 


		22.	Validity. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, which shall remain in full force and effect.



 


		23.	Applicable Law. This Agreement shall be governed by and construed in accordance with the domestic, internal laws of
the Commonwealth of Pennsylvania, without regard to its conflicts of laws principles.



 


		24.	Consent to Jurisdiction. To the extent that any court action is permitted consistent with
or to enforce this Agreement, the parties hereby consent to the jurisdiction of the Court of Common Pleas of Lancaster County located
in Lancaster, Pennsylvania. Accordingly, with respect to any such court action, Executive (a) submits to the personal jurisdiction of
such court; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court or otherwise)
with respect to personal jurisdiction or service of process.



 



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		25.	Headings. The section headings of this Agreement are for convenience only and shall not control or affect the meaning
or construction or limit the scope or intent of any of the provisions of this Agreement.



 


 


 


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left blank)


 


 




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IN WITNESS WHEREOF, the parties
have executed this Agreement as of the date below.


 


 


	ATTEST:	 	ENB FINANCIAL CORP
	 	 	 	 	 
	/s/ Adrienne L. Miller	 	By	/s/ Jeffrey S. Stauffer
	 	 	 	 	Jeffrey S. Stauffer
	Date:	October 31, 2022	 	 	President and Chief Executive Officer
	 	 	 
	ATTEST:	 	THE EPHRATA NATIONAL BANK
	 	 	 	 	
	/s/ Adrienne L. Miller	 	By	/s/ Jeffrey S. Stauffer
	 	 	 	 	Jeffrey S. Stauffer
	Date:	October 31, 2022	 	 	President and Chief Executive Officer
	 	 	 	 
	 	 	 	EXECUTIVE
	 	 	 	/s/ Rachel G. Bitner
	 	 	 	Rachel G. Bitner





 


 




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Schedule 1


 


None.


 


 


 





 


 


 



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Schedule 2


 


Participant’s
Restricted Stock Unit Grant


 


A. Declaration of Award to Participant


 


As additional
consideration for entering into an Employment Agreement dated October 28, 2022 with the ENB Financial Corp and The Ephrata National Bank,
(“Company”), (the “Employment Agreement”) and in recognition of the Participant's role in the Company and the
extent of opportunities for the executive to contribute to the growth and success of the business, the Board of Directors of the Company
hereby grants to the Participant on the Grant Date an award of “1204” units of Company common stock, par value $0.10 per share
(“Restricted Company Stock”), at $16.80 per share, the Fair Market Value (FMV) of the stock on the Grant Date, on the terms,
conditions and subject to the restrictions set forth in this Exhibit to Employment Agreement, which terms are incorporated therein.


 


B. Terms and Conditions of the Restricted Stock
Unit Grant


 


		1.	Vesting of Interests in the Grant. The Participant will vest interests in
the grant over a three (3) year period at a rate of 33 1/3% on each anniversary of the grant.



 


Further, if
the Participant voluntarily terminates employment for any reason, but violates the noncompetition/nonsolicitation provisions of the Employment
Agreement, any interests that have not yet been distributed will be forfeited.


 


		2.	Restricted Period. The foregoing vesting schedule notwithstanding, if the
Participant's continuous service terminates for any reason at any time before all of his or her Restricted Company Stock has vested, the
Participant's unvested Restricted Company Stock shall be automatically forfeited upon such termination of continuous service and neither
the Company nor any affiliate shall have any further obligations to the Participant under the Employment Agreement.



 


		3.	Participant's Rights. Participant will enjoy rights and privileges accorded
Shareholders, including voting rights and receipt of dividends, on those portions of the grant that have vested. Any dividends received
on vested portions of this award will be treated as ordinary income for tax purposes.



 


		4.	Investment Requirement. The Participant is not required to make any investment
in the Company in order to participate in this grant.



 


		5.	Distribution of Vested Interests. Vested portions of this grant will be distributed
to the Participant as soon as practical following vesting in shares of Company common stocks.



 


		6.	Nontransferability of Grant. The Participant's rights and financial interests in this award may
not be transferred other than by will or laws of descent and distribution.



 



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		7.	Tax Liability and Withholding. The ultimate liability for all Tax-Related
Items is and remains the Participant's responsibility and the Company (a) makes no representation or undertakings regarding the treatment
of any Tax-Related Items in connection with the grant or vesting of the Restricted Stock or the subsequent sale of any shares; and (b)
does not commit to structure the Restricted Stock to reduce or eliminate the Grantee's liability for Tax-Related Items.



 


		8.	Compliance with Law. The issuance and transfer of shares of common stock
shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws
and with all applicable requirements of any stock exchange on which the Company's shares of common stock may be listed or quoted. No shares
of common stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory
agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company
is under no obligation to register the shares of common stock with the Securities and Exchange Commission, any state securities commission
or any stock exchange to effect such compliance.



 


 






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