Document:

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                                                                    EXHIBIT 10.1

                         YORK INTERNATIONAL CORPORATION

                      EXECUTIVE DEFERRED COMPENSATION PLAN

                 AS AMENDED AND RESTATED EFFECTIVE JULY 1, 2001
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                         YORK INTERNATIONAL CORPORATION
                      EXECUTIVE DEFERRED COMPENSATION PLAN

                                TABLE OF CONTENTS

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                                                                           PAGE
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ARTICLE I       PURPOSE AND EFFECTIVE DATE...............................    1
   1.1.     Purpose......................................................    1
   1.2.     Effective Date...............................................    1

ARTICLE II      DEFINITIONS..............................................    1
   2.1.     Definitions..................................................    1

ARTICLE III     ELIGIBILITY..............................................    3
   3.1.     Eligibility..................................................    3
   3.2.     Participation and Deferral Agreements........................    3

ARTICLE IV      DEFERRED COMPENSATION....................................    5
   4.1.     Bonus Deferrals..............................................    5
   4.2.     Salary Deferrals.............................................    6
   4.3.     Matching Contributions.......................................    6
   4.4.     Directors' Fee Deferrals.....................................    6
   4.5.     Vesting......................................................    7

ARTICLE V       ACCOUNTING FOR DEFERRED COMPENSATION.....................    7
   5.1.     Accounts.....................................................    7
   5.2.     Value Adjustments............................................    7

ARTICLE VI      DISTRIBUTIONS OF DEFERRED COMPENSATION...................    8
   6.1.     Time and Manner of Distributions.............................    8
   6.2.     Death of Participant After Commencement of Benefit Payments..    9
   6.3.     Hardship Withdrawals.........................................    9
   6.4.     Incapacity of Recipient......................................    9
   6.5.     Withdrawal at Age 65.........................................    9

ARTICLE VII     FUNDING..................................................   10

ARTICLE VIII    ADMINISTRATION...........................................   10
   8.1.     Administration...............................................   10
   8.2.     Administrative Review........................................   10
   8.3.     General......................................................   11
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ARTICLE IX      CLAIMS PROCEDURE.........................................   11
   9.1.     Initial Claim................................................   11
   9.2.     Procedure for Review.........................................   11
   9.3.     Claim Denial Procedure.......................................   11
   9.4.     Appeal Procedure.............................................   12
   9.5.     Decision on Appeal...........................................   12
   9.6.     Litigation...................................................   12
   9.7.     Disputes:Enforcement of Rights...............................   13

ARTICLE X       AMENDMENT, DISCONTINUANCE AND TERMINATION................   13

ARTICLE XI      YORK STOCK FUND..........................................   13
   11.1.    Directors' Fees Only.........................................   13
   11.2.    Investment Allocation Directions.............................   13
   11.3.    No Reallocation..............................................   13
   11.4.    No Hardship Withdrawals......................................   13
   11.5.    No Stockholders' Rights......................................   14
   11.6.    York Stock Fund Account......................................   14

ARTICLE XII     MISCELLANEOUS............................................   14
   12.1.    Non-Guarantee of Employment..................................   14
   12.2.    Rights of Participants to Benefits...........................   14
   12.2.    Beneficiaries of such Participants...........................   15
   12.3.    No Assignment................................................   15
   12.4.    Withholding..................................................   15
   12.5.    Account Statements...........................................   15
   12.6.    Gender.......................................................   15
   12.7.    Titles.......................................................   15
   12.8.    Governing Law................................................   15
   12.9.    Other Plans..................................................   15
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                         YORK INTERNATIONAL CORPORATION
                      EXECUTIVE DEFERRED COMPENSATION PLAN

                                   ARTICLE I
                           PURPOSE AND EFFECTIVE DATE

         1.1.     PURPOSE. The Plan is intended to provide deferred compensation
for outside directors and for a select group of management or highly compensated
employees of the Employer. The Plan is an unfunded plan that is not intended to
be (i) subject to Parts 2, 3 or 4 of Title I, Subtitle B of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA") or (ii) qualified
under Section 401(a) of the Internal Revenue Code.

         1.2.     EFFECTIVE DATE. This amendment and restatement is effective
July 1, 2001. The original effective date for this Plan was December 5, 1993.

                                   ARTICLE II
                                   DEFINITIONS

         2.1.     DEFINITIONS. As used herein, the following terms shall have
the following meanings:

                  (a)      ACCOUNT. The bookkeeping reserve account established
and maintained for each Participant pursuant to Section 5.1 for purposes of
determining the amount payable to the Participant pursuant to Article VI.

                  (b)      ADMINISTRATIVE COMMITTEE. The Corporation's Pension
and Investment Committee which shall be comprised of the individuals who shall
from time to time serve as the Corporation's Chief Financial Officer, Vice
President of Human Resources and General Counsel and any other individuals
designated by the Board.

                  (c)      BENEFICIARY. The person or persons designated by a
Participant to receive Plan benefits in the event of the Participant's death,
such designation to be made in writing on a form satisfactory to the
Administrative Committee and effective when received by the Administrative
Committee thereby revoking any and all prior designations. If the Participant
has not designated a Beneficiary, or if no Beneficiary survives the Participant,
the aggregate amount then credited to the Participant's Account shall be paid in
a single sum to the Participant's estate.

                  (d)      BOARD. The board of directors of the Corporation or,
if the Board so directs, the Compensation Committee of such Board acting on
behalf of the Board in the exercise of any and all powers and duties of the
Board pursuant to this Plan.

                  (e)      BONUS DEFERRALS. Part or all of a Participant's
annual performance bonus, the receipt of which is deferred by the Participant
pursuant to Section 4.1.

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                  (f)      CODE. The Internal Revenue Code of 1986, as amended.

                  (g)      COMPENSATION COMMITTEE. The compensation committee of
the Board.

                  (h)      CORPORATION. York International Corporation and any
successor.

                  (i)      DEFERRAL AGREEMENT. The written agreement entered
into between the Participant and the Employer pursuant to Article III.

                  (j)      DEFERRED COMPENSATION. The total amount of a
Participant's Bonus Deferrals, Salary Deferrals, and Directors' Fee Deferrals.

                  (k)      DIRECTORS' FEE DEFERRALS. Part or all of a
Participant's directors' fees, the receipt of which is deferred by the
Participant pursuant to Section 4.4.

                  (l)      EMPLOYER. The Corporation, its successors and
assigns, any subsidiary or affiliated organization of the Corporation, unless
such subsidiary or affiliated organization is otherwise excluded as a
participating employer designated by the Board, and any organization into which
an Employer may be merged or consolidated or to which all or substantially all
of its assets may be transferred.

                  (m)      MATCHING CONTRIBUTION. Amounts credited to a
Participant's Account pursuant to Section 4.3.

                  (n)      OUTSIDE DIRECTOR. A member of the Board who is not an
employee of the Employer.

                  (o)      PARTICIPANT. An individual who is eligible to
participate pursuant to Article III and who has delivered an executed Deferral
Agreement to the Administrative Committee in accordance with the provisions of
Article III.

                  (p)      PLAN. The York International Corporation Executive
Deferred Compensation Plan as set forth herein and as amended from time to time.

                  (q)      SALARY DEFERRALS. Part or all of a Participant's base
salary, the receipt of which is deferred by the Participant pursuant to Section
4.2.

                  (r)      VALUATION DATE. Valuation Date shall mean the end of
the business day immediately preceding the date as of which any payment, or
other determination dependent on the value of Participant Accounts, is to be
made. If exact information concerning the value of a Participant's Account as of
the close of the business day immediately preceding the date of a distribution
is not available, the Administrative Committee shall make a reasonable, good
faith, determination of the value in accordance with procedures established by
the Administrative Committee.

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                  (s)      VALUE ADJUSTMENTS. Amounts debited and credited to
the Participant's Account pursuant to Section 5.2.

                  (t)      YORK COMMON STOCK. The common stock of York
International Corporation.

                  (u)      YORK STOCK FUND. An investment fund which may be
established by the Administrative Committee, which shall be a unitized fund
consisting of York Common Stock and such other investments necessary to allow
for liquidity as determined by the Administrative Committee. The York Common
Stock Fund shall be subject to the provisions of Article XI.

                                 ARTICLE III
                                   ELIGIBILITY

         3.1.     ELIGIBILITY. Each highly compensated employee or member of
management of the Employer who is selected by the Compensation Committee, shall
be eligible to become a Participant as of the date designated by the
Compensation Committee. An eligible employee shall remain eligible until such
time as the Compensation Committee affirmatively revokes such employee's
eligibility. Each Outside Director shall be eligible to participate in the Plan.
Notwithstanding the foregoing, upon attainment of age 70, a Participant shall no
longer be permitted to make future deferrals and shall cease to be eligible to
participate in the Plan.

         3.2.     PARTICIPATION AND DEFERRAL AGREEMENTS.

         In order to become a Participant in the Plan for purposes of having
Deferred Compensation credited to such Participant's Account, an eligible
individual must deliver an executed Deferral Agreement to the Administrative
Committee in accordance with the following provisions:

                  (a)      BONUS DEFERRALS.

                           (i)      Newly Eligible Employees.

                                    (A)      Each newly eligible employee must
deliver an executed Deferral Agreement to the Administrative Committee by the
later of (1) March 31 of the calendar year in which the employee first becomes
eligible or (2) within thirty days of first becoming eligible, in order to elect
Bonus Deferrals pursuant to Section 4.1 with respect to the annual performance
bonus that may become payable for services rendered during the calendar year in
which such individual first becomes eligible.

                                    (B)      Notwithstanding Section 3.2(a)(i),
if an individual first becomes eligible anytime during the last quarter of a
calendar year, such individual may elect Bonus Deferrals pursuant to Section 4.1
only with respect to the annual performance bonus that may become payable for
services to be rendered during the calendar year next following the

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calendar year in which such individual first becomes eligible and for subsequent
calendar years (i.e., no Bonus Deferrals may be elected for the calendar year in
which such individual first becomes eligible).

                           (ii)     Previously Eligible Employees. After the
period described in Section 3.2(a)(i)(A) above, an eligible employee may make a
Bonus Deferral election with respect to a subsequent calendar year by delivering
an executed Deferral Agreement to the Administrative Committee by March 31 of
each such calendar year to which the Bonus Deferral election is to apply.

                           (iii)    Subsequent Elections. A Participant's
executed Deferral Agreement with respect to Bonus Deferrals shall be effective
only with respect to the specific year to which such Deferral Agreement applies
and shall not be effective for any subsequent year.

                  (b)      SALARY DEFERRALS AND MATCHING CONTRIBUTIONS.

                           (i)      Newly Eligible Employees. Each newly
eligible employee may choose to participate in the Plan for purposes of having
Salary Deferrals and Matching Contributions credited to his or her Account by
delivering an executed Deferral Agreement electing Salary Deferrals to the
Administrative Committee within 30 days of first becoming eligible. Such
employee shall become a Participant in the Plan, for purposes of having Salary
Deferrals and Matching Contributions credited to his or her Account, as of the
first day of the first pay period after such employee delivers such executed
Deferral Agreement to the Administrative Committee.

                           (ii)     Previously Eligible Employees. After the
30-day period described in Section 3.2(b)(i) above, any eligible employee may
elect to begin participating in the Plan for purposes of having Salary Deferrals
and Matching Contributions credited to his or her Account by delivering an
executed Deferral Agreement electing Salary Deferrals to the Administrative
Committee. Such employee shall become a Participant in the Plan for purposes of
having Salary Deferrals and Matching Contributions credited to his or her
Account, as of the first day of the calendar quarter after such employee
delivers such executed Deferral Agreement to the Administrative Committee;
provided, however, that such election must be filed not less than 30 days prior
to the beginning of a calendar quarter in order to be effective for such
calendar quarter.

                           (iii)    Subsequent Elections. A Participant's
executed Deferral Agreement with respect to Salary Deferrals shall remain in
effect indefinitely until revoked or changed by delivery of a subsequent
Deferral Agreement to the Administrative Committee pursuant to Section 4.2.

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                  (c)      DIRECTORS' FEE DEFERRALS.

                           (i)      Newly Eligible Individuals. Each newly
eligible individual may choose to participate in the Plan for purposes of having
Directors' Fee Deferrals credited to such Participant's Account by delivering an
executed Deferral Agreement electing Directors' Fee Deferrals to the
Administrative Committee within 30 days of first becoming eligible. Such
individual shall become a Participant in the Plan, for purposes of having
Directors' Fee Deferrals credited to his or her Account, as of the first day of
the first period for which such fees are payable after such individual delivers
such executed Deferral Agreement to the Administrative Committee.

                           (ii)     Previously Eligible Individuals. After the
30-day period described in Section 3.2(c)(i) above, any eligible individual may
elect to begin participating in the Plan for purposes of having Directors' Fee
Deferrals credited to his or her Account by delivering an executed Deferral
Agreement electing Directors' Fees Deferrals to the Administrative Committee.
Such individual shall become a Participant in the Plan for purposes of having
Directors' Fee Deferrals credited to his or her Account, as of the first day of
the calendar quarter after such individual delivers such executed Deferral
Agreement to the Administrative Committee; provided, however, that such election
must be filed not less than 30 days prior to the beginning of a calendar quarter
in order to be effective for such calendar quarter.

                           (iii)    Subsequent Elections. A Participant's
executed Deferral Agreement with respect to Directors' Fee Deferrals shall
remain in effect indefinitely until revoked or changed by delivery of a
subsequent Deferral Agreement to the Administrative Committee pursuant to
Section 4.4.

                                   ARTICLE IV
                              DEFERRED COMPENSATION

         4.1.     BONUS DEFERRALS.

                  (a)      A Participant may elect to defer the right to receive
all or any portion of any bonus the Participant might be awarded under the
annual performance bonus program of the Employer with respect to the
Participant's services performed during a calendar year. The amount of such
Bonus Deferral must be specified in an executed Deferral Agreement delivered to
the Administrative Committee in accordance with the provisions of Section 3.2. A
Bonus Deferral election is irrevocable once the applicable executed Deferral
Agreement is delivered to the Administrative Committee.

                  (b)      The amount of any annual performance bonus deferred
with respect to any calendar year shall reduce the amount of such bonus
otherwise payable to the Participant as of the date such payment otherwise would
have been made, and the amount of such reduction shall be allocated to a
Participant's Account as soon as administratively feasible in accordance with
policies established by the Administrative Committee.

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         4.2.     SALARY DEFERRALS.

                  (a)      A Participant may elect to defer the right to receive
all or any part of the Participant's base salary scheduled to be paid during a
calendar year. The amount of such Salary Deferrals must be specified in an
executed Deferral Agreement delivered to the Administrative Committee in
accordance with the provisions of Section 3.2(b), and shall commence as of the
date such individual becomes a Participant in the Plan pursuant to Section
3.2(b).

                  (b)      The amount of Salary Deferrals elected on a Deferral
Agreement shall remain in effect indefinitely until changed or revoked by
delivery of a subsequent Deferral Agreement to the Administrative Committee. A
Participant may make four changes per calendar year to the amount of Salary
Deferrals elected, including electing to cease Salary Deferrals. Such change or
revocation shall become effective as of the first day of the calendar quarter
after the new Deferral Agreement is delivered to the Administrative Committee,
provided that such change was submitted at least 30 days prior to the start of
such calendar quarter.

                  (c)      Salary Deferrals pursuant to this Section 4.2 with
respect to a calendar year shall reduce the Participant's regular salary
payments on a ratable basis over such calendar year. Salary Deferrals shall be
allocated to a Participant's Account as soon as administratively feasible in
accordance with policies established by the Administrative Committee.

         4.3.     MATCHING CONTRIBUTIONS.

                  (a)      For each calendar year, the Administrative Committee
shall allocate to each Participant's Account an amount equal to twenty-five
percent (25%) of the Participant's Salary Deferrals for such calendar year;
provided however, that such Matching Contributions shall not exceed four percent
(4%) of any Participant's base salary for the calendar year. Subject to the
foregoing limit, Matching Contributions shall be allocated to Participant's
Account ratably as such Participant's Salary Deferrals are allocated to his or
her Account pursuant to Section 4.2(c).

                  (b)      Matching Contributions shall not be made with respect
to Bonus Deferrals or Directors' Fee Deferrals.

         4.4.     DIRECTORS' FEE DEFERRALS.

                  (a)      A Participant may elect to defer the right to receive
all or any portion of the fees earned for services rendered as an Outside
Director. The amount of such Directors' Fee Deferrals must be specified in an
executed Deferral Agreement delivered to the Administrative Committee in
accordance with the provisions of Section 3.2, and shall commence as of the date
such individual becomes a Participant in the Plan pursuant to Section 3.2(c).

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                  (b)      The amount of any Directors' Fee Deferrals elected on
a Deferral Agreement shall remain in effect indefinitely until changed or
revoked by delivery of a subsequent Deferral Agreement to the Administrative
Committee. A Participant may make four changes per calendar year to the amount
of Directors' Fee Deferrals elected, including electing to cease Directors' Fee
Deferrals. Such change or revocation shall become effective as of the first day
of the calendar quarter after the new Deferral Agreement is delivered to the
Administrative Committee, provided that such change was submitted at least 30
days prior to the start of such calendar quarter.

                  (c)      The amount of any Directors' Fee Deferrals with
respect to any calendar year shall reduce Participant's directors' fees
otherwise payable to the Participant on a ratable basis over such calendar year.
Directors' Fee Deferrals shall be allocated to a Participant's Account as soon
as administratively feasible in accordance with policies established by the
Administrative Committee.

         4.5.     VESTING. Each Participant shall be at all times fully vested
in and have a nonforfeitable right to the aggregate amount of Deferred
Compensation allocated to his or her Account. A Participant shall become vested
in the amount of any Matching Contributions allocated to his or her Account in
accordance with the vesting provisions of the York International Corporation
Investment Plan (as amended from time to time) which are incorporated here by
reference.

                                    ARTICLE V
                      ACCOUNTING FOR DEFERRED COMPENSATION

         5.1.     ACCOUNTS. The Administrative Committee shall establish a
Account on behalf of each Participant which shall be credited (or debited) with
Deferred Compensation and Matching Contributions pursuant to Article IV, Value
Adjustments as provided in Section 5.2, distributions pursuant to Article VI,
and, with respect to Directors' Fee Deferrals, adjustments pursuant to Article
XI, as applicable. Each such Account shall consist of such subaccounts as are
necessary or desirable to the Administrative Committee for the convenient
administration of the Plan. The Accounts and subaccounts shall be bookkeeping
reserve accounts only and shall not require segregation of any funds of the
Corporation or the Employer or provide any Participant with any rights to any
assets of the Corporation or the Employer, except as a general creditor thereof.
A Participant shall have no right to receive payment of any amount credited to
the Participant's Account except as expressly provided in Article VI of this
Plan.

         5.2.     VALUE ADJUSTMENTS.

                  (a)      As of each Valuation Date (and such other dates as
the Administrative Committee, in its sole and absolute discretion, may
determine), the Account of each Participant shall be credited or debited to
reflect the amount of net earnings or losses that would have been realized since
the immediately preceding Valuation Date if an amount equal to the balance of
the Participant's Account had been invested in certain investment funds
designated by the Administrative Committee from time to time, and if so
permitted by the

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Administrative Committee pursuant to Section 5.2(b), allocated in the manner
specified by the Participant pursuant to procedures established by the
Administrative Committee from time to time. Value Adjustments pursuant to this
Section 5.2 with respect to any Valuation Date shall be determined based upon
the balance of the Participant's Account as of the immediately preceding
Valuation Date, with appropriate adjustments for credits of Deferred
Compensation and Matching Contributions pursuant to Article IV and distributions
pursuant to Article VI since the immediately preceding Valuation Date.

                  (b)      Notwithstanding anything in this Plan to the
contrary, the Administrative Committee may, but is not required to, implement
investment allocation directions submitted by the Participants and will exercise
its discretion in this regard in a nondiscriminatory manner with respect to the
Participants.

                                   ARTICLE VI
                     DISTRIBUTIONS OF DEFERRED COMPENSATION

         6.1.     TIME AND MANNER OF DISTRIBUTIONS.

                  (a)      Upon the earliest of a Participant's termination of
employment, ceasing to be an eligible Outside Director, death or attainment of
age 70, the Administrative Committee shall commence payment of the Participant's
Account to the Participant or the Participant's Beneficiary, as applicable, as
soon as practicable thereafter; provided, however, that the Administrative
Committee may determine in its sole and absolute discretion to delay payment
commencement to any Participant if necessary to avoid application of the
deduction limitation of section 162(m) of the Code to the Employer.

                  (b)      All distributions will be based on the value of a
Participant's Account measured as of the Valuation Date immediately preceding
the date of the distribution. The Administrative Committee determination of
value shall be conclusive and binding upon the Employer, the Participant and any
other person claiming benefits though the Participant.

                  (c)      Unless otherwise elected by the Participant, all
payments under this Plan shall be made in a single sum payment.

                  (d)      A Participant may elect, by a written election filed
with the Administrative Committee, no later than 180 days before the benefit
described in Section 6.1(a) would otherwise become payable, to receive
distribution in substantially equal quarterly, semi-annual or annual payments
(adjusted periodically to reflect Value Adjustments allocated to the
Participant's Account pursuant to Section 5.2) over a period of time not to
exceed ten years. Any such election, once made, shall be irrevocable.

                  (e)      A Participant who has not elected a form of
distribution described in Section 6.1(d) at least 180 days or more before
distribution of the Participant's benefit is to commence, or a Participant's
Beneficiary, may request that his benefit be distributed in a form permitted
under Section 6.1(d) by a written request filed with the Compensation Committee,

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which request may be granted or denied in the sole and absolute discretion of
the Compensation Committee.

                  (f)      Notwithstanding any provision of this Plan to the
contrary, the Compensation Committee may, if it determines that such action is
in the best interest of the Employer, the Participant or the Participant's
Beneficiary, pay the remaining amount of any benefit otherwise payable under (d)
or (e) above, in a single-sum payment. The Compensation Committee's
determination under this Section 6.1(f) shall be conclusive and binding upon the
Employer, the Participant and any other person claiming benefits through the
Participant.

         6.2.     DEATH OF PARTICIPANT AFTER COMMENCEMENT OF BENEFIT PAYMENTS.
In the event that a Participant dies after the commencement of benefit payments
and prior to the Participant having received 100% of the value of the
Participant's Account, the balance of the Participant's Account shall be
distributed to the Participant's Beneficiary in accordance with the method of
distribution already in effect, subject to the sole and absolute discretion of
the Compensation Committee to pay the remaining balance of the Participant's
Account to the Beneficiary in a single-sum payment.

         6.3.     HARDSHIP WITHDRAWALS. The Administrative Committee shall
establish procedures under which a Participant may request a withdrawal of some
or all of the Participant's Account in the event of an unforeseeable severe
financial emergency. In general, an unforeseeable severe financial emergency
would include circumstances resulting from a sudden and unexpected illness or
accident of the Participant or of the Participant's spouse or dependent, loss of
the Participant's property due to casualty, or other similar extraordinary and
unforeseeable circumstances arising as a result of events beyond the control of
the Participant and for which the resulting financial hardship cannot be
reasonably relieved through other sources of funds or by cessation of deferrals
under this Plan. The Compensation Committee, in its sole and absolute
discretion, shall determine whether any such financial emergency warrants a
withdrawal from the Participant's Account and shall determine the amount of such
withdrawal so as to limit the withdrawal to that amount which is needed to
satisfy the emergency need.

         6.4.     INCAPACITY OF RECIPIENT. If any person entitled to a
distribution under this Plan is deemed by the Compensation Committee to be
incapable of personally receiving and giving a valid receipt for such payment,
then, unless and until claim therefor shall have been made by a duly appointed
guardian or other legal representative of such person, the Compensation
Committee may provide for such payment or any part thereof to be made to any
other person or institution then contributing toward or providing for the care
and maintenance of such person. Any such payment shall be a payment for the
account of such person and a complete discharge of any liability of the
Corporation, the Employer and the Plan therefor.

         6.5.     WITHDRAWAL AT AGE 65. Notwithstanding the provisions of
Section 6.1, a Participant who commences participating in the Plan on or after
October 1, 2000, may make a one time irrevocable election upon first becoming a
Participant to receive a distribution at age 65 of all or any portion of his or
her Account. Any distributions made under this Section 6.5 shall

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be made in the form of a single-sum payment as soon as practicable after the
Participant's attainment of age 65 and shall be valued in accordance with
Section 6.1.

                                  ARTICLE VII
                                     FUNDING

         The obligations of the Corporation and the Employer to distribute
benefits under this Plan shall be interpreted solely as an unfunded, contractual
obligation to distribute only those amounts credited to the Participant's
Account pursuant to Article V in the manner and under the conditions prescribed
in Article VI. Any assets set aside, including any assets transferred to a rabbi
trust or purchased by the Corporation or the Employer with respect to amounts
payable under the Plan, shall be subject to the claims of the Corporation's or
the Employer's general creditors, and no person other than the Corporation or
the Employer shall, by virtue of the provisions of the Plan, have any interest
in such assets. All amounts deferred pursuant to this Plan may, in the
Compensation Committee's discretion, be transferred to an irrevocable rabbi
trust as soon as practicable after such amounts are allocated to a Participant's
Account pursuant to Article IV.

                                  ARTICLE VIII
                                 ADMINISTRATION

         8.1.     ADMINISTRATION. The Plan will be administered by the
Administrative Committee. The Administrative Committee shall be the named
fiduciary for purposes of the claims procedure pursuant to Article IX and shall
have authority to act to the full extent of its absolute discretion to:

                  (a)      interpret the Plan;

                  (b)      resolve and determine all disputes or questions
arising under the Plan subject to the provisions of Article IX, including the
power to determine the rights of Participants and Beneficiaries, and their
respective benefits, and to remedy any ambiguities, inconsistencies or omissions
in the Plan;

                  (c)      create and revise rules and procedures for the
administration of the Plan and prescribe such forms as may be required for
Participants to make elections under, and otherwise participate in, the Plan;
and

                  (d)      take any other actions and make any other
determinations as it may deem necessary and proper for the administration of the
Plan.

Any expenses incurred in the administration of the Plan will be paid by the
Corporation or the Employer.

         8.2.     ADMINISTRATIVE REVIEW. Except as the Compensation Committee
may otherwise determine (and subject to the claims procedure set forth in
Article IX), all decisions

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and determinations by the Administrative Committee shall be final and binding
upon all Participants and Beneficiaries.

         8.3.     GENERAL. No member of the Administrative Committee or the
Compensation Committee shall participate in any matter involving any questions
relating solely to his or her own participation or benefits under the Plan. The
Administrative Committee and Compensation Committee shall be entitled to rely
conclusively upon, and shall be fully protected in any action or omission taken
by it in good faith reliance upon the advice or opinion of any persons, firms or
agents retained by it, including but not limited to accountants, actuaries,
counsel and other specialists. Nothing in this Plan shall preclude the
Corporation or any Employer from indemnifying the members of the Administrative
Committee and Compensation Committee for all actions under this Plan, or from
purchasing liability insurance to protect such persons with respect to the Plan.

                                   ARTICLE IX
                                CLAIMS PROCEDURE

         The Administrative Committee shall administer a claims procedure as
follows:

         9.1.     INITIAL CLAIM. A Participant or Beneficiary who believes
himself entitled to benefits under the Plan (the "Claimant"), or the Claimant's
authorized representative acting on behalf of such Claimant, must make a claim
for those benefits by submitting a written notification of his or her claim of
right to such benefits. Such notification must be on the form and in accordance
with the procedures established by the Administrative Committee. No benefit
shall be paid under the Plan until a proper claim for benefits has been
submitted.

         9.2.     PROCEDURE FOR REVIEW. The Administrative Committee shall
establish administrative processes and safeguards to ensure that all claims for
benefits are reviewed in accordance with the Plan document and that, where
appropriate, Plan provisions have been applied consistently to similarly
situated Claimants. Any notification to a Claimant required hereunder may be
provided in writing or by electronic media, provided that any electronic
notification shall comply with the applicable standards imposed under 29 C.F.R.
Section 2520.104b-1(c).

         9.3.     CLAIM DENIAL PROCEDURE. If a claim is wholly or partially
denied, the Administrative Committee shall notify the Claimant within a
reasonable period of time, but not later than 90 days after receipt of the
claim, unless the Administrative Committee determines that special circumstances
require an extension of time for processing the claim. If the Administrative
Committee determines that an extension of time for processing is required,
written notice of the extension shall be furnished to the Claimant prior to the
termination of the initial 90-day period. In no event shall such extension
exceed a period of 180 days from receipt of the claim. The extension notice
shall indicate: (i) the special circumstances necessitating the extension and
(ii) the date by which the Administrative Committee expects to render a benefit
determination. A benefit denial notice shall be written in a manner calculated
to be understood by the Claimant and shall set forth: (i) the specific reason or
reasons for the denial, (ii) the

                                      -11-
<PAGE>
specific reference to the Plan provisions on which the denial is based, (iii) a
description of any additional material or information necessary for the Claimant
to perfect the claim, with reasons therefor, and (iv) the procedure for
reviewing the denial of the claim and the time limits applicable to such
procedures, including a statement of the Claimant's right to bring a legal
action under section 502(a) of ERISA following an adverse benefit determination
on review.

         9.4.     APPEAL PROCEDURE. In the case of an adverse benefit
determination, the Claimant or his or her representative shall have the
opportunity to appeal to the Compensation Committee for review thereof by
requesting such review in writing to the Compensation Committee within 60 days
of receipt of notification of the denial. Failure to submit a proper application
for appeal within such 60 day period will cause such claim to be permanently
denied. The Claimant or his or her representative shall be provided, upon
request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant to the claim. A document, record or other
information shall be deemed "relevant" to a claim in accordance with 29 C.F.R.
Section 2560.503-1(m)(8). The Claimant or his or her representative shall also
be provided the opportunity to submit written comments, documents, records and
other information relating to the claim for benefits. The Compensation Committee
shall review the appeal taking into account all comments, documents, records and
other information submitted by the Claimant or his or her representative
relating to the claim, without regard to whether such information was submitted
or considered in the initial benefit determination.

         9.5.     DECISION ON APPEAL. The Compensation Committee shall notify a
Claimant of its decision on appeal within a reasonable period of time, but not
later than 60 days after receipt of the Claimant's request for review, unless
the Compensation Committee determines that special circumstances require an
extension of time for processing the appeal. If the Compensation Committee
determines that an extension of time for processing is required, written notice
of the extension shall be furnished to the Claimant prior to the termination of
the initial 60-day period. In no event shall such extension exceed a period of
60 days from the end of the initial period. The extension notice shall indicate:
(i) the special circumstances necessitating the extension and (ii) the date by
which the Compensation Committee expects to render a benefit determination. An
adverse benefit decision on appeal shall be written in a manner calculated to be
understood by the Claimant and shall set forth: (i) the specific reason or
reasons for the adverse determination, (ii) the specific reference to the Plan
provisions on which the denial is based, (iii) a statement that the Claimant is
entitled to receive, upon request and free of charge, reasonable access to and
copies of all documents, records, and other information relevant to the
Claimant's claim (the relevance of a document, record or other information will
be determined in accordance with 29 C.F.R. Section 2560-1(m)(8)) and (iv) a
statement of the Claimant's right to bring a legal action undEr section 502(a)
of ERISA.

         9.6.     LITIGATION. In order to operate and administer the claims
procedure in a timely and efficient manner, any Claimant whose appeal with
respect to a claim for benefits has been denied, and who desires to commence a
legal action with respect to such claim, must commence such action in a court of
competent jurisdiction within 90 days of receipt of

                                      -12-
<PAGE>
notification of such denial. Failure to file such action by the prescribed time
will forever bar the commencement of such action.

         9.7.     DISPUTES: ENFORCEMENT OF RIGHTS. All reasonable legal and
other fees and expenses incurred by the Claimant in connection with any disputed
claim regarding any right or benefit provided for in this Plan shall be paid by
the Corporation, to the extent permitted by law, provided that the Claimant
prevails on the merits of his or her claim in material part as the result of
litigation, arbitration or settlement.

                                   ARTICLE X
                    AMENDMENT, DISCONTINUANCE AND TERMINATION

         The Board or the Compensation Committee shall have the right to modify
or amend the Plan at any time and from time to time, and the Board shall have
the right to discontinue or terminate the Plan at any time and from time to
time; provided, however, that no modification, amendment, discontinuance or
termination shall adversely affect the rights of Participants to amounts
credited to the Accounts maintained on their behalf before such modification,
amendment, discontinuance or termination. In the case of termination of the
Plan, any amounts credited to the Account of a Participant may, in the sole
discretion of the Compensation Committee, be distributed in full to such
Participant as soon as reasonably practicable following such termination.

                                   ARTICLE XI
                                 YORK STOCK FUND

         Notwithstanding anything in the Plan to the contrary, the following
provisions shall apply to the York Stock Fund.

         11.1.    DIRECTORS' FEES ONLY. Only Directors' Fee Deferrals shall be
allocable to the York Stock Fund.

         11.2.    INVESTMENT ALLOCATION DIRECTIONS. A Participant may provide
the Administrative Committee with investment allocation directions, pursuant to
such procedures set forth by the Administrative Committee from time to time,
that direct that all or a portion of the Participant's Directors' Fee Deferrals
be allocated to the York Stock Fund. Any such investment allocation direction
shall be prospective in nature and shall apply only to Directors' Fee Deferrals
allocated to the Participant's Account after delivery of such investment
allocation direction to the Administrative Committee.

         11.3.    NO REALLOCATION. A Participant's Directors' Fee Deferrals
allocated to the York Stock Fund may not be reallocated to another investment
fund.

         11.4.    NO HARDSHIP WITHDRAWALS. No hardship withdrawals made pursuant
to Section 6.3 of the Plan may be made from the portion of a Participant's
Account allocated to the York Stock Fund.

                                      -13-
<PAGE>
         11.5.    NO STOCKHOLDERS' RIGHTS. The allocation of all or a portion of
a Participant's Account to the York Stock Fund shall not give such Participant
any right or interest in any shares of York Common Stock that may be held from
time to time in a rabbi trust incident to the Plan or otherwise.

         11.6.    YORK STOCK FUND ACCOUNT. The Administrative Committee shall
maintain a bookkeeping account for each Participant with respect to the York
Stock Fund to reflect the value of a Participant's Account allocated to the York
Stock Fund as of any determination date.

                  (a)      The bookkeeping account for a Participant shall be
credited, as of the day the applicable Directors' Fee Deferrals would otherwise
have been payable to the Participant, with units equal to the number of York
Stock Fund units (including fractions of a unit) that could have been purchased
with the amount of such Directors' Fee Deferrals on the Valuation Date
immediately preceding the date as of which the bookkeeping account is so
credited in accordance with procedures established by the Administrative
Committee.

                  (b)      The Administrative Committee shall adjust each
Participant's York Stock Fund Account as appropriate to reflect any stock
dividend, stock split, combination of shares, merger, share exchange,
consolidation or any other change in the corporate structure of the Corporation
or the York Common Stock.

                  (c)      For distribution purposes, the value of the portion
of the Participant's Account allocated to the York Stock Fund as of such
Valuation Date shall be equal to the value of such Participant's York Stock Fund
units credited to his or her bookkeeping account as valued in accordance with
procedures established by the Administrative Committee on the Valuation Date
immediately preceding such distribution.

                  (d)      In accordance with procedures established by the
Administrative Committee, the Trustee shall reinvest dividends paid on York
Common Stock in additional shares of York Stock Fund units. To the extent that
the amount of any dividend payment would result in a fractional York Stock Fund
unit, the Trustee will retain such excess amount in cash until there is an
amount sufficient to purchase a whole unit.

                                  ARTICLE XII
                                  MISCELLANEOUS

         12.1.    NON-GUARANTEE OF EMPLOYMENT. Participation in the Plan does
not give any person any right to be retained in the service of the Employer. The
right and power of the Employer to terminate any employee is expressly reserved.

         12.2.    RIGHTS OF PARTICIPANTS TO BENEFITS. All rights of a
Participant under the Plan to amounts credited to the Participant's Account are
mere unsecured contractual rights of the Participant (or his or her Beneficiary)
against the Employer. Each Employer shall be primarily responsible for payment
of benefits hereunder to the Participants it employs and the

                                      -14-
<PAGE>
Beneficiaries of such Participants. In the event an Employer fails to pay any
amount due under this Plan for any reason, the Corporation shall be jointly and
severally liable for the payment of such amount.

         12.3.    NO ASSIGNMENT. No amounts credited to Accounts nor any rights
or benefits under the Plan shall be subject in any way to voluntary or
involuntary alienation, sale, transfer, assignment, pledge, attachment,
garnishment, execution, or encumbrance, and any attempt to accomplish the same
shall be void.

         12.4.    WITHHOLDING. The Corporation shall have the right to deduct
from any distribution made hereunder any taxes required by law to be withheld
from a Participant with respect to such payment.

         12.5.    ACCOUNT STATEMENTS. Periodically (as determined by the
Administrative Committee), each Participant shall receive a statement indicating
the amounts credited to and payable from the Participant's Account.

         12.6.    GENDER. The masculine shall be read in the feminine, the
singular in the plural, and vice versa, whenever the context shall so require.

         12.7.    TITLES. The titles to articles and sections in this Plan are
placed herein for convenience of reference only, and the Plan is not to be
construed by reference thereto.

         12.8.    GOVERNING LAW. Except to the extent preempted by applicable
federal laws, the Plan shall be construed according to the laws of the state of
Delaware, other than its conflict of laws principles.

         12.9.    OTHER PLANS. Nothing in this Plan shall be construed to affect
the rights of a Participant, a Participant's beneficiaries, or a Participant's
estate to receive any retirement or death benefit under any tax-qualified or
nonqualified pension plan, deferred compensation agreement, insurance agreement
or other retirement plan of the Corporation or the Employer.

         IN WITNESS WHEREOF, the Corporation has caused this Plan to be executed
by a duly authorized officer on the ___________ day of September, 2001.

WITNESS:                             YORK INTERNATIONAL CORPORATION

                                     By:
------------------------------            ------------------------

Corporate Secretary                  Title:
                                             ---------------------------

[SEAL]

                                      -15-<PAGE>
                                  EXHIBIT 10.01

                         EXECUTIVE EMPLOYMENT AGREEMENT

         THIS AGREEMENT is made on the 1st day of July, 2001, between COMM
BANCORP, INC., a Pennsylvania business corporation ("Comm Bancorp"), COMMUNITY
BANK AND TRUST COMPANY, a Pennsylvania state-chartered banking institution (the
"Bank") and Scott A. Seasock, an adult individual and resident of the
Commonwealth of Pennsylvania ("Executive").

                                   WITNESSETH

         WHEREAS, Comm Bancorp and the Bank each desire to employ the Executive
as it's Executive Vice President and Chief Financial Officer under the terms and
conditions set forth herein; and

         WHEREAS, the Executive desires to serve Comm Bancorp and the Bank in an
executive capacity under the terms and conditions set forth in this Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein and intending to be legally bound hereby, the parties agree as
follows:

         1. TERM OF EMPLOYMENT. Comm Bancorp and the Bank each employ the
Executive and the Executive accepts employment with them for an initial period
of two (2) years beginning on the 1st day of July 2001, and ending on the 30th
day of June, 2003 subject, however, to one-year automatic extensions at the end
of each one (1) year period so that this Agreement "evergreens" so as to have a
constant two (2) year term as of the end of each contract year unless either
Comm Bancorp, the Bank or Executive gives the other written notice at least six
(6) months prior to the expiration of the then current contract year of their
intention not to extend this Agreement (subject to Paragraph 10 hereof), and
also subject to prior termination of this Agreement as set forth below.

         2. POSITION AND DUTIES. The Executive shall serve as the Executive Vice
President and Chief Financial Officer of Comm Bancorp and the Bank, reporting
only to the respective Boards of Directors and President and Chief Executive
Officer of Comm Bancorp and the Bank: shall have supervision and control over,
and responsibility for, the general financial management and operation and
general senior executive oversight of Comm Bancorp and the Bank; and shall have
such other powers and duties as may from time to time be prescribed by the
respective Boards of Directors and President and Chief Executive Officer of Comm
Bancorp and the Bank, provided that such duties are consistent with the
Executive's position as Executive Vice President and Chief Financial Officer in
charge of the general management of each.

                                       46
<PAGE>
         3. ENGAGEMENT IN OTHER EMPLOYMENT. The Executive shall devote
substantially all his available working time, ability and attention to the
business of Comm Bancorp and the Bank during the term of this agreement. Except
with the prior written approval of the Boards of Directors of each, the
Executive shall not engage in any other business or commercial activities,
duties or pursuits, during the term of this agreement. Under no circumstances
may the Executive engage in any business or commercial activities, duties or
pursuits which compete with the business or commercial activities or either Comm
Bancorp or the Bank nor may the Executive serve as a director or officer or in
any other capacity in a company or financial institution which competes with
either Comm Bancorp or the Bank. Passive investments and personal activities not
resulting in material compensation or a conflict of interest with either Comm
Bancorp or the Bank shall not be deemed a breach of the restrictions of this
paragraph. With the prior approval of the Board of Directors of Comm Bancorp,
which approval shall not be unreasonably withheld, the Executive may participate
in trade associations, charitable, civic or similar not-for-profit,
philanthropic or eleemosynary organizations, including services as an officer or
a director. Such participation shall not be deemed a breach of this Agreement,
but the total amount of time spent by the Executive in such activities during
normal working hours shall be periodically reviewed by the Board of Directors of
Comm Bancorp and the Bank.

         4. COMPENSATION.

                  A. ANNUAL DIRECT SALARY:

                           1. ANNUAL SALARY: As compensation for services
rendered under this Agreement, the Executive shall be entitled to receive an
annual salary of $97,985.00 Dollars per year, payable in substantially equal
bi-monthly installments (or such other more frequent intervals as may be
determined by the Board of Directors as payroll policy for senior executive
officers) prorated for any partial employment period. The annual salary shall be
reviewed by the Board of Directors prior to each calendar year of this Agreement
beginning January 1, 2002 and shall be adjusted based on performance, but no
less than the latest annual North-Eastern Pennsylvania Domestic Consumer Price
Index percentage rate. The increase in annual salary shall be communicated to
the Executive on or before February 28th and shall be effective as of January 1
of each year. In no event shall the annual salary be decreased.

                  B. INCENTIVE COMPENSATION. The Executive shall participate in
the Executive Bonus Plan.

         5. FRINGE BENEFITS, VACATION, EXPENSES AND PERQUISITES. It is agreed
that nothing paid to the Executive under any of the below-described benefit
plans or arrangements shall be deemed to be in lieu of compensation otherwise
payable to the Executive hereunder and shall not be deemed to be a part of
Annual Direct Salary. The Executive shall be entitled to:

                                       47
<PAGE>
                  A. EMPLOYMENT BENEFIT PLANS. The Executive shall be entitled
to participate in and to receive benefits under all employee benefit plans (e.g.
matching 401-K plan, salary continuation plan, supplemental retirement plan,
split-dollar life insurance plan) provided for other executive level employees
of either Comm Bancorp or the Bank, but it is not the parties intention to
create duplicate entitlements. The Executive may select which plan if more than
one plan is available.

                  B. VACATION AND HOLIDAYS. The Executive shall be entitled to
the number of paid vacation days in each calendar year determined by the Bank
from time to time for its senior executive officers, but no less than fifteen
(15) days in any calendar year (pro-rated in any calendar year during which the
Executive is employed hereunder for less than the entire such year in accordance
with the number of days in such calendar year during which he is so employed).
The Executive shall also be entitled to all paid holidays, personal days and
sick days given by the Bank to its senior executive officers. The parties agree
that no additional vacation or holidays shall be due to the Executive as a
result of his employment by Comm Bancorp.

                  C. BUSINESS EXPENSES. During the term of his employment
hereunder, the Executive shall be entitled to receive prompt reimbursement for
all reasonable expenses incurred by him in performing services hereunder, upon
presentation of proper receipts or other documents in accordance with the then
current policy of the Bank.

                  D. BANKING INDUSTRY FUNCTIONS. The Executive may devote
reasonable time to attending conventions, seminars and meetings sponsored by the
Pennsylvania Banking Association, American Bankers Association and other banking
or educational organizations at the expense of the Bank or Comm Bancorp, as the
case may be. Such attendance at conventions will be approved by the Board of
Directors of the Bank.

                  E. CLUB MEMBERSHIP. The Bank shall provide Executive with
application fees, bond costs and annual dues in connection with his membership
in such private clubs, social, civic and community organizations that the Board
of Directors of the Bank may reasonably determine during the term of employment
hereunder.

                  F. AUTOMOBILE. The Executive shall be furnished a new
automobile, model to be set by the Board, every three years, with insurance,
maintenance, fuel and all fees and costs paid by the Bank.

                  G. OTHER PERQUISITES AND BENEFITS. The Executive shall be
entitled to receive such additional perquisites and fringe benefits as the
Boards of Directors of either Comm Bancorp or the Bank reasonably deem
appropriate in their sole discretion.

         6. INDEMNIFICATION. Comm Bancorp and the Bank agree that their By-Laws
shall continue to provide for indemnification of their directors, officers,
employees and agents, to the fullest extent allowed under Pennsylvania law,

                                       48
<PAGE>
including the Executive during the full term of this Agreement, and shall at all
times provide adequate insurance for such purposes.

         7. UNAUTHORIZED DISCLOSURE. At no time during the period of his
employment hereunder and thereafter, shall the Executive, without the written
consent of the Boards of Directors of Comm Bancorp or the Bank or a person
authorized thereby, knowingly disclose to any person, other than an employee of
either Comm Bancorp or the Bank, as the case may be, or a person to whom
disclosure is reasonably necessary or appropriate in connection with the
performance by the Executive of his duties as an executive, any material
confidential information obtained by him while in the employ of either Comm
Bancorp or the Bank with respect to any of their services, products,
improvements, formulas, designs or styles, processes, customers, methods of
distribution or any business practice the disclosure of which he knows will be
materially damaging to either Comm Bancorp 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 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 Comm
Bancorp or the Bank.

         8. RESTRICTIVE COVENANTS. The Executive covenants and agrees as
follows: the Executive shall not directly or indirectly, within the marketing
area of the Bank (defined as Lackawanna County, Susquehanna County, Wayne County
and Wyoming County, Pennsylvania), or any future market area of the Bank
(defined as an area within 20 miles of any branch office located outside of
those counties, and begun during the Executive's employment under the terms of
this Agreement), enter into or engage generally in competition with the Bank
either as sole proprietor or as partner or joint venturer, or as a director,
officer, shareholder (except as a shareholder of less than five (5.0%) percent
of the outstanding shares of a corporation if Executive is not an employee,
officer or Director of such corporation), employee or agent for any person,
during the term of this Agreement and for a period of six (6) months after the
date of termination of his employment hereunder if (i) the Executive's
employment is terminated for Cause by the Bank pursuant to paragraph 9 C of this
Agreement, or (ii) such termination is the result of the resignation by the
Executive for other than a "Good Reason" under paragraph 9 D of this Agreement.
The Executive agrees that any breach of the restriction set forth in this
paragraph shall result in irreparable injury to the Bank for which it shall not
have adequate remedy at law and the Bank shall be entitled to injunctive relief
in order to enforce the provisions hereof. In the event that this paragraph
shall be determined by any court of competent jurisdiction to be unenforceable
in part by reason of its being too great a period of time or covering too great
a geographical area, it shall be in full force and effect as to that period of
time or geographical area determined to be reasonable by the court.

         9. TERMINATION.

                  A. DEATH. The Executive's employment hereunder by Comm Bancorp
or the Bank shall terminate upon his death.

                                       49
<PAGE>
                  B. DISABILITY. The Executive's employment hereunder shall, at
Comm Bancorp's or the Bank's option, terminate if he becomes totally and
permanently disabled. The Executive shall be deemed totally or permanently
disabled if he becomes unable to perform a substantial portion of his duties
under this Agreement and a physician mutually selected by Bank and the Executive
determines such inability will continue for a period of one hundred eighty (180)
days or more and is likely to be permanent. The Executive shall be deemed
disabled if he receives total disability benefits under either Comm Bancorp's or
the Bank's disability insurance plan. Such termination shall be without
prejudice to any right Executive may have to receive benefits under any
disability insurance plan maintained by either Comm Bancorp or the Bank.

                  C. CAUSE. Either Comm Bancorp or the Bank may terminate the
Executive's employment hereunder for Cause. For the purposes of this Agreement,
either Comm Bancorp, or the Bank shall have "Cause" to terminate the Executive's
employment hereunder upon:

         1. The willful failure by the Executive to substantially perform his
duties hereunder after Comm Bancorp or the bank has given the Executive written
notice of his failure to perform and the Executive does not cure such failure
within thirty (30) business days of the receipt of such notice, other than any
such failure resulting from the Executive's incapacity due to physical or mental
illness; or

         2. conviction of a felony; or

         3. the willful violation by the Executive of the provisions of
Paragraphs 3, 7 or 8 of this Agreement; or

         4. the willful violation of state or federal banking, securities, tax
or financial laws or financial regulations in the operation of Comm Bancorp or
the Bank.

             The Executive will be notified in writing of the grounds for
termination.

         Either Comm Bancorp or the Bank may terminate this Agreement without
notice upon receipt of a final, unappealable written directive or order of any
governmental body or entity having jurisdiction over Comm Bancorp or the Bank,
as the case may be, requiring termination, disciplinary action, a fine, or
removal of the Executive or Chief Executive Officer, President or Director of
Comm Bancorp or the Bank. Such termination shall be deemed to be termination for
cause.

         Termination for cause by either Comm Bancorp or the Bank shall be
deemed also to be termination for cause by the other.

         D. HEALTH AND GOOD REASON. The Executive may terminate his employment
hereunder (1) if his health should become impaired to an extent that it makes
continued performance of his duties hereunder hazardous to his physical or
mental health or (2) for Good Reason. The term "Good Reason"

                                       50
<PAGE>
shall mean (i) any assignment to the Executive, without his consent, of any
duties other than those specifically contemplated by, Section 2 hereof, (ii) any
removal of the Executive from or any failure to re-elect the Executive to any of
the positions indicated in Section 2 hereof, except in connection with
termination of the Executive's employment for Cause, (iii) failure of either
Comm Bancorp or the Bank, as the case may be, to comply with Section 5 hereof,
(iv) any other material breach by either Comm Bancorp or the Bank of this
Agreement or (v) any Change in Control (as defined herein).

                  Should Executive terminate employment for reasons set forth in
Section 9D, notice thereof shall be given to Comm Bancorp or the Bank prior to
thereto and Comm Bancorp or the Bank shall have thirty (30) days to cure such
condition which precipitated Executive's desire to terminate. These reasons set
forth in said notice to Comm Bancorp or the Bank shall thereby be established
and fixed as "good reason" as the same is defined within this contract for any
future arbitration or court proceeding following termination.

         10. PAYMENTS UPON TERMINATION/NON-EXTENSION.

                  A. DEATH, DISABILITY, OR FOR CAUSE. If the Executive's
employment shall be terminated because of death, disability or for Cause, Comm
Bancorp and the Bank shall pay the Executive his full Annual Direct Salary
through the date of termination at the rate in effect at the time of termination
and in the case of termination because of death or disability, any other amounts
owing to Executive at the time of termination (e.g. reimbursements and the value
of his accrued but unused fringe benefits) and death or disability payments
otherwise thereafter coming due pursuant to Paragraph 5A hereof and neither Comm
Bancorp nor the Bank shall have further obligations to the Executive under this
Agreement, except Executive shall receive all other vested employee benefits to
which Executive may be entitled when due and payable.

                  B. UNILATERAL AND GOOD REASON TERMINATION. If the Executive's
employment by either Comm Bancorp or the Bank is terminated (other than pursuant
to paragraphs 9A, 9B or 9C hereof or as a result of non-extension of this
Agreement), or if the Executive shall terminate his employment for Good Reason,
then Comm Bancorp and the Bank shall pay the Executive within thirty (30) days
of such termination date, the lump sum equivalent (without discounting for
present value) of his full Annual Direct Salary from the date of termination for
the remaining term of this Agreement. If termination is by reason of Change of
Control, either by the Executive under Paragraph 9D or by the controlling
interests resulting from the change of control, then the Bank and Comm Bancorp
shall pay to the Executive, the Executive's Annual Direct Salary for twenty-four
(24) months from the date of termination. In any such event, the Bank and Comm
Bancorp shall continue and pay for long-term disability and medical benefits
throughout such period of time that a payment is made under this sub-paragraph
10B. Executive shall receive all other vested employee benefits to which
Executive may be entitled when due and payable. All other employee fringe
benefits shall cease upon either such termination.

                                       51
<PAGE>
                  C. NON-EXTENSION OF AGREEMENT. In the event the Executive
serves at least a full contract year of the initial term of this Agreement, and
Comm Bancorp and/or the Bank gives written notice that the contract will not be
renewed, the Executive shall be entitled at his sole option and discretion to
terminate his employment and shall thereupon receive a severance payment
equivalent to twenty-four (24) months of his then current Annual Direct Salary
plus such vested employee benefits to which Executive may be entitled when due
and payable, and neither Comm Bancorp nor the Bank shall have further
obligations to the Executive under this Agreement.

                  D. MAXIMUM SEVERANCE PAYMENT. Notwithstanding any provision or
clause above set forth to the contrary, Comm Bancorp and the Bank shall in no
case be liable to Executive for any amount in excess of twenty-four (24) months
of Executive's Annual Direct Salary plus such benefits as listed in Section 10B,
and the same shall represent the maximum severance payment or benefit to
Executive for termination under Paragraphs 10(B) and 10(C) above.

         11. DEFINITION OF CHANGE OF CONTROL. A Change of Control shall be
deemed to have occurred when (a) substantially all of Comm Bancorp's or the
Bank's assets and/or operations are sold or otherwise disposed of; (b) any
person becomes the beneficial owner directly or indirectly, of securities of
Comm Bancorp or the Bank with a combined voting power in sufficient amount to
gain majority control of either Board of Directors; or (c) at any time during
any twenty-four (24) consecutive months (commencing on July 1, 2001) when a
majority of the members of either Comm Bancorp's and the Bank's Board of
Directors are individuals who were not members of the respective Board of
Directors at the beginning of such period, unless such changes result from death
or voluntary or historically-consistent retirement. For purposes of this
paragraph, "person and beneficial owner" shall have the meanings ascribed to
them pursuant to the Securities Exchange Act of 1934, as amended and the
regulations promulgated pursuant thereto. This Paragraph shall be liberally
construed in favor of the Executive.

         12. NOTICE. For the purposes of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States
certified mail, return receipt requested, postage prepaid, addressed as follows:

         If to the Executive:                Scott A. Seasock
                                             5 Millcreek Road
                                             Wilkes-Barre, PA 18702

         with a required copy to:            James F. Mangan, Esquire
                                             Koff, Wendolowski, Ferguson &
                                             Mangan, P.C.
                                             22 East Union Street, Suite 115
                                             Wilkes-Barre, PA 18701-2721

                                       52
<PAGE>
         If to Comm Bancorp:                 Comm Bancorp, Inc.
                                             125 North State Street
                                             Clarks Summit, PA 18411

         If to Bank:                         Community Bank and Trust Company
                                             125 North State Street
                                             Clarks Summit, PA 18411

         with a required copy to:            John B. Lampi, Esquire
                                                 Saul Ewing LLP
                                             2 North Second Street, 7th Floor
                                             Harrisburg, PA 17101

or to such other address as any party may have furnished to the others in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.

         13. SUCCESSORS. This Agreement shall inure to the benefit of and be
binding upon the Executive, Comm Bancorp and the Bank and their respective
heirs, personal representatives, successors and assigns.

         14. ARBITRATION. In the event that any dispute should arise between the
parties regarding the meaning or effect of this Agreement, which dispute cannot
be resolved by the parties (except the question of Employee's disability which
is governed in Subparagraph 9B) the parties shall appoint a panel of three
persons as arbitrators who shall be present or former executives of financial
institutions located in the United States. The Executive shall appoint one such
arbitrator, Comm Bancorp shall appoint another, and the third shall be appointed
by the first two. Proceedings under this paragraph may be initiated by either
party informing the other in writing of the necessity for arbitration and the
subject matter of the arbitration. The parties shall select the first two
arbitrators within 45 days after such notice has been sent. The panel of two
arbitrators shall select the third arbitrator within 30 days after their
appointment from a list or lists of eligible persons submitted to them by the
parties. Proceedings under this paragraph shall be commenced and pursued as
expeditiously as possible and in accordance with the applicable rules of the
American Arbitration Association relating to executive employment agreements.
The parties shall compensate the arbitrator selected by him or it. All other
costs of the arbitration shall be borne equally. The enforceability of any award
and all other matters pertaining thereto shall be governed by the Uniform
Arbitration Act in force in Pennsylvania or any applicable succeeding
legislation. The arbitrators shall conduct their proceedings in Lackawanna
County, Pennsylvania.

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

         16. ENTIRE AGREEMENT. This instrument contains the entire agreement of
the parties relating to the subject matter hereto and may not be waived,

                                       53
<PAGE>
changed, modified, extended or discharged orally but only by agreement in
writing, consented to in a writing signed by the parties.

         17. GOVERNING LAW. This Agreement and the rights and obligations
hereunder shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania and the United States of America.

         18. RIGHTS AND REMEDIES; NO WAIVER. No course of action between Comm
Bancorp, the Bank and the Executive and no delay or omission of Comm Bancorp,
the Bank or the Executive to exercise any right or power given under this
Agreement shall; (A) impair the subsequent exercise of any right or power, or,
(B) be construed to be a waiver of any default or any acquiescence in or consent
to the curing of any default or of any other right or power that shall have
arisen. Every power and remedy granted by law and by this Agreement to any party
may be exercised as may be deemed expedient.

All such rights and powers shall be cumulative to the fullest extent permitted
by law.

                                       54
<PAGE>
         IN WITNESS WHEREOF, the parties have signed and sealed this Agreement
the day and the year first above written.

ATTEST:                            COMM BANCORP, INC.

----------------                   By:/s/ William F. Farber, Sr.
Title                                       Chairman of the Board of Directors

ATTEST:                            COMM BANCORP, INC.

----------------                   By:/s/ John P. Kameen
Title                                       Secretary of the Board of Directors

ATTEST:                            COMMUNITY BANK AND TRUST COMPANY

----------------                   By:/s/ William F. Farber, Sr.
Title                                       Chairman of the Board of Directors

ATTEST:                            COMMUNITY BANK AND TRUST COMPANY

---------------                    By:/s/ John P. Kameen
Title                                       Secretary of the Board of Directors

ATTEST:                            By:/s/ Scott A. Seasock

---------------
Title

                                       55

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