Document:

AMENDED AND RESTATED EMPLOYMENT
AGREEMENT

 

THIS AMENDED AND RESTATED EMPLOYMENT
AGREEMENT (“Agreement”) is effective as of the 1st day of January 2013, between QNB CORP., a Pennsylvania
business corporation (the “Corporation”), QNB BANK, a state chartered banking institution (the “Bank”),
and DAVID W. FREEMAN, an adult individual (“Executive”).

 

WITNESSETH:

 

WHEREAS, the Corporation, the Bank
and the Executive previously entered into an employment agreement dated September 7, 2010 (the “Prior Employment Agreement”);

 

WHEREAS, the Corporation, the Bank
and the Executive desire to amend and restate the Prior Employment Agreement to revise Executive’s title to President and
Chief Executive Officer of the Corporation and the Bank and to add a provision providing for an increased severance payment in
the event of termination of Executive’s employment under certain circumstances after a change in control of the Corporation
or the Bank.

 

WHEREAS, Executive desires to accept
such employment with the Corporation and the Bank, on the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, the parties hereto,
intending to be legally bound, agree as follows:

 

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

 

2. Duties of Employee.

 

(a) Executive shall serve as President
and Chief Executive Officer of the Corporation and the Bank, respectively, and shall perform all duties and accept all responsibilities
incident to such positions as may be assigned to Executive by the Board of Directors of the Corporation (the “Board”)
or the Board of Directors of the Bank (the “Bank Board”). Executive shall devote Executive’s full time, attention,
and energies to the business of the Corporation and the Bank during the Employment Period (as defined in Section 3 of this
Agreement); provided, however, that this Section 2 shall not be construed as preventing Executive from (a) engaging in
activities incident or necessary to personal investments, (b) acting as a member of the board of directors of any non-profit
association or corporation, or (c) being involved in any other activity with the prior approval of the Board or the Bank Board.
Executive shall not engage in any business or commercial activities, duties, or pursuits which compete with the business or commercial
activities of the Corporation or the Bank, nor may Executive serve as a director or officer or in any other capacity in a company
which competes with the Corporation or the Bank.

 

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(b) During the term of this Agreement,
the Bank shall cause Executive to be nominated to the Bank Board, and use its reasonable efforts to cause Executive to be re-elected
to the Bank Board.

 

3. Term of Agreement.

 

(a) Employment Period. This
Agreement shall be for a period (the “Employment Period”) beginning on the effective date of this Agreement (January
1, 2013), and if not previously terminated pursuant to the terms of this Agreement, ending one year later; provided, however, that
the Employment Period shall be automatically renewed on the first anniversary date of the commencement of the Employment Period
(the “Renewal Date”) for a period ending one year from the Renewal Date unless either party shall give written notice
of non-renewal to the other party at least 90 days prior to the Renewal Date, in which event this Agreement shall terminate at
the end of the Employment Period. If this Agreement is renewed on the Renewal Date, it will be automatically renewed on the first
anniversary date of the Renewal Date and each subsequent anniversary (the “Annual Renewal Date”) for a period ending
one year from each Annual Renewal Date, unless either party gives written notice of non-renewal to the other party at least 90
days prior to the Annual Renewal Date, in which case this Agreement shall terminate at the end of the Employment Period.

 

(b) Termination for Cause. Notwithstanding
the provisions of Section 3(a) of this Agreement, this Agreement may be terminated by the Corporation or the Bank for Cause
(as defined herein). As used in this Agreement, “Cause” shall mean any of the following:

 

(i) Executive is convicted of or
pleads guilty or nolo contendere to a felony, a crime of falsehood, or a crime involving moral turpitude, or the actual
incarceration of Executive for a period of 30 consecutive days or more;

 

(ii) A government regulatory agency
recommends or orders in writing that the Corporation or the Bank terminate the employment of Executive with the Corporation or
the Bank or relieve Executive of Executive’s duties as such relate to the Corporation or the Bank;

 

(iii) Executive willfully and continuously
fails to follow the lawful instructions of the Board or the Bank Board (which instructions must be consistent with the terms of
this Agreement), other than a failure resulting from Disability;

 

(iv) A willful act of material dishonesty
on the part of Executive with respect to any material matter involving the Corporation or the Bank;

 

(v) Executive willfully fails to
timely report to the Board or the Bank Board information having a material adverse effect on Corporation or Bank business operations;

 

(vi) Theft or material misuse by
Executive of Corporation or Bank property;

 

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(vii) Executive fails to conform
in any material respect to the Corporation’s or Bank’s code of conduct; or

 

(viii) A material breach of this
Agreement by Executive.

 

For purposes of this Agreement,
“code of conduct” means the policies and procedures related to employment of employees by the Corporation or the Bank
set forth in the Corporation’s or Bank’s employee handbook or any similar document. The code of conduct may be amended
and updated at any time. The term “code of conduct” shall also include any other policy or procedure that may be adopted
by the Corporation or the Bank and communicated to Executive.

 

Anything herein to the contrary
notwithstanding, Executive’s employment shall not be terminated for Cause, within the meaning of clauses (iii) — (viii)
above unless written notice stating the basis for the termination is provided to Executive and Executive (together with Executive’s
own counsel) has an opportunity to be heard before the Board or the Bank Board, as applicable, and, after such hearing, a majority
of the Board or the Bank Board (excluding Executive), as applicable, duly votes to terminate Executive for Cause.

 

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 that:

 

(i) the Bank shall pay to Executive
the unpaid portion, if any, of Executive’s Annual Base Salary through the date of termination; and

 

(ii) the Bank shall provide to Executive
such post-employment benefits, if any, as may be provided for under the terms of the employee benefit plans of the Corporation
and the Bank then in effect.

 

(c) Termination for Good Reason.
Notwithstanding the provisions of Section 3(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s
termination of employment for Good Reason. The term “Good Reason” shall mean, without Executive’s express written
consent, (i) a material reduction in Executive’s Annual Base Salary; (ii) a material diminution in Executive’s authority,
duties, or responsibilities; (iii) a material change in the geographic location at which Executive must perform the services under
this Agreement; or (iv) any other action or inaction that constitutes a material breach by the Corporation or the Bank of this
Agreement, in all cases after notice from Executive to the Corporation or the Bank within ninety (90) days after the initial existence
of any such condition that the condition constitutes Good Reason and the failure of the Corporation or the Bank to cure such situation
within thirty (30) days after said notice.

 

If such termination occurs for Good Reason,
then the Bank shall pay Executive such benefits as are set forth in Sections 5 or 6 of this Agreement, as applicable.

 

(d) Death. Notwithstanding the
provisions of Section 3(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s death and
Executive’s rights under this Agreement shall cease as of the date of such termination, except that (i) the Bank shall
pay to Executive’s spouse, personal representative, or estate the unpaid portion, if any, of Executive’s Annual Base
Salary through date of death and the balance of the payments (if any) owing pursuant to Section 15(b) below, and (ii) the
Bank shall provide to Executive’s dependents any benefits due under the Corporation’s and the Bank’s employee
benefit plans.

 

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(e) Disability. Executive, the
Corporation, and the Bank agree that if, in the judgment of the Board, Executive is unable, as a result of illness or injury, to
perform the essential functions of Executive’s position on a full-time basis with or without a reasonable accommodation and
without posing a direct threat to Executive or others for a period of six months (a “Disability”), the Corporation
and the Bank will suffer an undue hardship in continuing Executive’s employment as set forth in this Agreement. Accordingly,
this Agreement shall terminate at the end of the six-month period, and all of Executive’s rights under this Agreement shall
cease, with the exception of those rights which Executive may have under the Corporation’s and the Bank’s benefit plans.

 

(f) Resignation from Board of Directors.
In the event Executive’s employment under this Agreement is terminated for any reason, if applicable, Executive’s service
as a Director of the Corporation, the Bank, and any affiliate or subsidiary thereof shall immediately terminate. This Section 3(f)
shall constitute a resignation notice for such purposes.

 

4. Employment Period Compensation.
Benefits and Expenses.

 

(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 $305,000 per year, minus applicable withholdings and deductions, payable at the same times as salaries are
payable to other executive employees of the Bank (the “Annual Base Salary”). The Annual Base Salary shall be reviewed
annually by the Board or the Bank Board and either may, from time to time, increase Executive’s Annual Base Salary, and any
and all such increases shall be deemed to constitute amendments to this Section 4(a) to reflect the increased amounts, effective
as of the date established for such increases.

 

(b) Bonus. The Board and the
Bank Board may provide for the payment of an annual bonus to Executive as it deems appropriate to provide incentive to Executive
and to reward Executive for Executive’s performance. Such bonus may, but need not be, determined in accordance with any incentive
bonus programs for executive officers as approved by the Board and the Bank Board.

 

(c) Vacations, Holidays, etc.
Executive shall be entitled to five weeks vacation. Such vacation time shall be subject to the policies as established from time
to time by the Bank Board. Executive shall also be entitled to all paid holidays, sick days, and personal days provided by the
Bank to its regular full-time employees and executive officers.

 

(d) Stock Based Incentives.
During the term of this Agreement, Executive shall be eligible for such stock based incentives as may be granted from time to time
by the Board under the Corporation’s stock based incentive plans and as are consistent with Executive’s responsibilities
and performance.

 

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(e) Employee Benefits Plans.
Executive shall be entitled to participate in all health, dental, vision, life insurance, and disability benefit plans available
on a general basis to other executive officers of the Corporation and the Bank; provided, however, that the Corporation and the
Bank reserve the right, from time to time, to amend in any respect and to terminate all such benefit plans; and provided further
that any reduction in such benefits must be applicable to all employees generally.

 

(f) Additional Benefits.

 

(i) Executive shall be entitled
to participate in the Bank’s long-term disability and accidental death benefit plans; provided, however, that the Bank reserves
the right, from time to time, to amend in any respect and to terminate such benefit plans; and provided further that any reduction
in such benefits must be applicable to all employees generally.

 

(ii) The Executive shall be eligible
to participate in the Corporation’s retirement savings plan in accordance with the terms of the plan; provided, however,
that the Corporation reserves the right, from time to time, to amend in any respect and to terminate such benefit plan; and provided
further that any reduction in such benefits must be applicable to all employees generally.

 

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

 

(h) Club Membership and Dues.
During the term of this Agreement, the Bank agrees to pay the initiation fees and dues for Executive to be a member of a country
club to be agreed upon by the Bank and Executive. The Bank also agrees to reimburse Executive for all ordinary, necessary, and
reasonable business-related expenses incurred by Executive on Bank business at such country club. As a condition to receiving such
reimbursements, the Executive shall submit to the Bank on a timely basis business expense reports, including substantiation sufficient
to enable the Bank to deduct the reimbursed expenses for tax purposes.

 

5. Rights in Event of Termination
of Employment after a Change in Control.

 

(a) In the event that Executive’s
employment is involuntarily terminated by the Corporation or the Bank without Cause (other than for death or Disability) during
the term of this Agreement after a Change in Control (as defined in Section 5(c) below) or Executive’s employment is voluntarily
terminated by Executive for Good Reason (as defined in Section 3(c) above) after a Change in Control, Executive shall be entitled
to receive:

 

(i) Executive shall be paid, within
twenty (20) days following termination, a lump-sum cash payment equal to two (2) times Executive’s Annual Base Salary then
in effect (or immediately prior to any reduction resulting in a termination by Executive for Good Reason). Such amount shall be
subject to federal, state, and local tax withholdings.

 

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(ii) Continuation of employer-provided
healthcare benefits for two years at the levels and cost to Executive and his qualified dependents in effect on the date of Executive’s
termination, and thereafter to elect, at Executive’s or his qualified dependents’ cost, COBRA continuation for the
remainder of Executive’s or his qualified dependents’ COBRA eligibility, if any, it being understood that Executive’s
and his dependents’ COBRA eligibility period will include the period during which the Company is providing benefits under
this Section. Notwithstanding the foregoing, in the event the Bank is unable to provide such healthcare benefits due to the applicable
nondiscrimination requirements of Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”), Executive
shall receive a dollar amount equal to the cost to Executive of obtaining such benefits (or substantially similar benefits) on
or within 30 days following the date of termination.

 

(b) Executive shall not be required
to mitigate the amount of any payment provided for in this Section 5 by seeking other employment or otherwise, nor shall the
amount of payment or the benefit provided for in this Section 5 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.

 

(c) As used in this Agreement, “Change
in Control” of the Corporation shall mean

 

(i) a merger, consolidation or division
involving the Corporation or the Bank, (B) a sale, exchange, transfer or other disposition of substantially all of the assets
of the Corporation or the Bank, or (C) a purchase by the Corporation or the Bank of substantially all of the assets of another
entity, unless (y) such merger, consolidation, division, sale, exchange, transfer, purchase or disposition is approved in
advance by sixty-six and two-thirds percent (66 2/3%) or more of the members of the Board of Directors of the Corporation or the
Bank who are not interested in the transaction and (z) a majority of the members of the Board of Directors of the legal entity
resulting from or existing after any such transaction and the Board of Directors of such entity’s parent corporation, if
any, are former members of the Board of Directors of the Corporation or the Bank; or

 

(ii) any “person” (as
such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”)), other than
the Corporation or the Bank or any “person” who on the date hereof is a director or officer of the Corporation or the
Bank, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Corporation or the Bank representing twenty-five percent (25%) or more of the combined voting power of Corporation
or Bank’s then outstanding securities;

 

(iii) during the period of two (2) consecutive
years during the term of Executive’s employment under this Agreement, individuals who at the beginning of such period constitute
the Board of Directors of the Corporation or the Bank cease for any reason to constitute at least a majority thereof, unless the
election of each director who was not a director at the beginning of such period has been approved in advance by directors representing
at least sixty-six and two-thirds percent (66 2/3%) of the directors then in office who were directors at the beginning of the
period; or

 

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(iv) any other transaction involving
the Corporation or the Bank similar in effect to any of the foregoing and designated as a Change in Control by the Board.

 

(d) In the event Executive becomes
entitled to any of the payments set forth in this Section 5, he shall not be entitled to any of the payments set forth in Section
6.

 

6. Rights in Event of Termination
of Employment Prior to a Change in Control.

 

(a) In the event Executive’s
employment is involuntarily terminated by the Corporation or the Bank without Cause (other than for death or Disability) prior
to a Change in Control (as defined in Section 5(c) above) or Executive’s employment is voluntarily terminated by Executive
for Good Reason prior to a Change in Control, Executive shall be entitled to receive:

 

(i) Continuation of Executive’s
Annual Base Salary then in effect (or immediately prior to any reduction resulting in a termination by Executive for Good Reason)
for a period of 12 months commencing on or within 30 days following the date of such termination, in accordance with the Bank’s
normal payroll practices then in effect; and

 

(ii) Continuation of employer-provided
healthcare benefits for one year at the levels and cost to Executive and his qualified dependents in effect on the date of Executive’s
termination, and thereafter to elect, at Executive’s or his qualified dependents’ cost, COBRA continuation for the
remainder of Executive’s or his qualified dependents’ COBRA eligibility, if any, it being understood that Executive’s
and his dependents’ COBRA eligibility period will include the period during which the Company is providing benefits under
this Section. Notwithstanding the foregoing, in the event the Bank is unable to provide such healthcare benefits due to the applicable
nondiscrimination requirements of Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”), Executive
shall receive a dollar amount equal to the cost to Executive of obtaining such benefits (or substantially similar benefits) on
or within 30 days following the date of termination.

 

(b) Executive shall not be required
to mitigate the amount of any payment provided for in this Section 6 by seeking other employment or otherwise, nor shall the
amount of payment provided for in this Section 6 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.

 

(c) In the event Executive becomes
entitled to any of the payments set forth in this Section 6, he shall not be entitled to any of the payments set forth in Section
5.

 

 

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7. 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 and
for the applicable period set forth in Section 7(c) hereof, Executive shall not:

 

(i) enter into or be engaged (other
than by the Corporation or the Bank), directly or indirectly, either for Executive’s 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 (A) the banking (including bank holding
company) or financial services industry or (B) any other activity in which Corporation or the Bank or any of their subsidiaries
are engaged during the Employment Period, in any county in which, at the date of termination of Executive’s employment, a
branch location, office, loan production office, or trust or asset and wealth management office of Corporation, the Bank, or any
of their subsidiaries are located (“Non-Competition Area”); or

 

(ii) solicit, directly or indirectly,
any “person” (as such term is defined under Section 3 of the Employee Retirement Income Security Act of 1974, as amended)
who is, or was during the then most recent 12-month period, a customer of the Corporation or the Bank or any of their respective
subsidiaries to divert their business from the Corporation and/or the Bank; or

 

(iii) solicit, directly or indirectly,
any person who is, or was during the then most recent 12-month period, employed by the Corporation or the Bank or any of their
respective subsidiaries to leave the employ of the Corporation or the Bank.

 

(b) It is expressly understood and
agreed that, although the parties consider the restrictions contained in Section 7(a) hereof reasonable for the purpose of preserving
for the Corporation, 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 this Section 7(a) hereof
is an unreasonable or otherwise unenforceable restriction against Executive, the provisions of Section 7(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.

 

(c) The provisions of this Section
7 shall be applicable commencing on the effective date of this Agreement and continuing for 12 months after the effective date
of the termination of Executive’s employment; provided, however, that in the event Executive’s employment terminates
as a result of delivery of a notice of non-renewal by the Corporation or the Bank in accordance with Section 3(a), Executive shall
not be subject to the restrictions contained in Section 7(a)(i). Notwithstanding the above provisions, if Executive violates the
provisions of this Section 7 and the Corporation or the Bank must seek enforcement of the provisions of Section 7 and is successful
in enforcing the provisions, either pursuant to a settlement agreement, or pursuant to court order, the restrictions set forth
in this Section 7 shall remain in effect for one full year following the date of the settlement agreement or court order.

 

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(d) Executive hereby agrees that the
provisions of this Section 7 are fully assignable by the Corporation and the Bank to any successor. Executive also acknowledges
that the terms and conditions of this Section 7 will not be affected by the circumstances surrounding Executive’s termination
of employment.

 

(e) Executive acknowledges and agrees
that any breach of the restrictions set forth in this Section 7 will result in irreparable injury to the Corporation and the Bank
for which it shall have no meaningful remedy at law, and the Corporation and the Bank shall be entitled to injunctive relief in
order to enforce provisions hereof. Upon obtaining any such final and nonappealable injunction, the Corporation and the Bank shall
be entitled to pursue reimbursement from Executive and/or Executive’s employer of attorney’s fees and costs reasonably
incurred in obtaining such final and nonappealable injunction. In addition, the Corporation and the Bank shall be entitled to pursue
reimbursement from Executive and/or Executive’s employer of costs reasonably incurred in securing a qualified replacement
for any employee enticed away from the Corporation and the Bank by Executive. Further, the Corporation and the Bank shall be entitled
to set off against or obtain reimbursement from Executive of any payments owed or made to Executive hereunder.

 

8. Unauthorized Disclosure.
During the term of Executive’s employment hereunder, or at any later time, Executive shall not, without the written consent
of the Board and the Bank Board or a person authorized thereby (except as may be required pursuant to a subpoena or other legal
process), knowingly disclose to any person, other than an employee of the Corporation and the Bank or a person to whom disclosure
is reasonably necessary or appropriate in connection with the performance by Executive of Executive’s duties as an executive
of the Corporation and the Bank, any material confidential information obtained by Executive while in the employ of the Corporation
and the Bank with respect to any of the Corporation’s and the Bank’s or any of their subsidiaries’ services,
products, improvements, formulas, designs or styles, processes, customers, methods of business, or any business practices the disclosure
of which could be or will be damaging to the Corporation and 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 Executive) or any information of a type not other 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.

 

9. Cessation and Recovery on
Competition. If, during the applicable period set forth in Section 7(c), Executive, in the good faith judgment of the Board,
breaches, in any material respect, any of the restrictions contained in Section 7, the Corporation shall have the right, upon written
notice to Executive, to cease to make any further payments under Sections 5 or 6, as applicable, in addition to any other remedies
available the Corporation.

 

10. Indemnification; Liability
Insurance. The Corporation and the Bank shall indemnify Executive, to the fullest extent permitted by Pennsylvania law,
with respect to any threatened, pending, or contemplated action, suit, or proceeding brought against Executive by reason of the
fact that Executive is or was a director, officer, employee, or agent of the Corporation and the Bank or is or was serving at the
written request of the Corporation or the Bank as a director, officer, employee, or agent of another person or entity. Executive’s
right to indemnification provided herein is not exclusive of any other rights to which Executive may be entitled under any bylaw,
agreement, vote of shareholders, or otherwise, and shall continue beyond the term of this Agreement.

 

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11. 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
address, in the case of notices to Executive, and to the principal executive office of the Corporation, in the case of notice to
the Corporation or the Bank.

 

12. 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. 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.

 

13. Assignment. This
Agreement shall not be assignable by any party, except by the Bank and the Corporation to any successor in interest to its business.

 

14. Entire Agreement.
This Agreement contains the entire agreement of the parties relating to the subject matter of this Agreement and supersedes and
replaces any prior written or oral agreements between them respecting the within subject matter (including, without limitation,
the Prior Employment Agreement”).

 

15. Successors; Binding Agreement.

 

(a) The Corporation and the Bank will
require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all
of the business and/or assets of the Corporation and/or the Bank to expressly assume and agree to perform this Agreement in the
same manner and to the same extent that the Corporation and the Bank would be required to perform it if no such succession had
taken place. As used in this Agreement, “Corporation” and “Bank” shall mean the Corporation and the Bank
as defined previously and any successor to its respective business 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, or legatees. If Executive should die after a notice of termination for Good Reason is delivered by Executive, 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.

 

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16. Arbitration. The
Corporation, the Bank, and Executive recognize that in the event a dispute should arise 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, with the exception of the covenant provisions in Section 7, which the Corporation and/or
the Bank may seek to enforce in any court of competent jurisdiction, each party agrees that all disputes, disagreements, and questions
of interpretation concerning this Agreement are to be submitted to resolution, in Philadelphia, 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, the Bank, or Executive may initiate an
arbitration proceeding at any time by giving notice to the other in accordance with the Rules. The Corporation, the Bank, and Executive
may, as a matter or 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 act, 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, the 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.

 

17. 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.

 

18. 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.

 

19. 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.

 

20. Regulatory Matters.
The obligations of the Corporation and the Bank under this Agreement shall in all events be subject to any required limitations
or restrictions imposed by or pursuant to the Federal Deposit Insurance Act or the Pennsylvania Banking Code of 1965 as the same
may be amended from time to time.

 

21. Limitations on Payments.
Notwithstanding anything in this Agreement to the contrary, in the event the payments and benefits payable hereunder to or on behalf
of Executive, when added to all other amounts and benefits payable to or on behalf of Executive, would result in the imposition
of an excise tax under Code Section 4999, the amounts and benefits payable hereunder shall be reduced to such extent as may be
necessary to avoid such imposition. All calculations required to be made under this Section will be made by the Corporation’s
independent public accountants, subject to the right of Executive’s representative to review the same. The parties recognize
that the actual implementation of the provisions of this Section are complex and agree to deal with each other in good faith to
resolve any questions or disagreements arising hereunder.

 

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22. Recovery of Bonuses and
Incentive Compensation. Notwithstanding anything in this Agreement to the contrary, all bonuses and incentive compensation
paid hereunder (whether in equity or in cash) shall be subject to recovery by the Corporation or the Bank in the event that such
bonuses or incentive compensation are based on materially inaccurate financial statements or other materially inaccurate performance
metric criteria; provided that a determination as to the recovery of a bonus or incentive compensation shall be made within 36
months following the date such bonus or incentive compensation was paid. In the event that the Board or the Bank Board, as applicable,
determines by at least a majority vote that a bonus or incentive compensation payment to Executive is recoverable pursuant to this
Section, Executive shall reimburse all or a portion of such bonus or incentive compensation, to the fullest extent permitted by
law, as soon as practicable following written notice to Executive by the Corporation or the Bank of the same.

 

23. Application of Code Section
409A.

 

(a) Notwithstanding anything in this
Agreement to the contrary, the receipt of any benefits under this Agreement as a result of a termination of employment shall be
subject to satisfaction of the condition precedent that Executive undergo a “separation from service” within the meaning
of Treas. Reg. § 1.409A-1(h) or any successor thereto. In addition, if Executive is deemed to be a “specified employee”
within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provisions of any benefit
that is required to be delayed pursuant to Code Section 409A(a)(2)(B), such payment or benefit shall not be made or provided prior
to the earlier of (i) the expiration of the six (6) month period measured from the date of Executive’s “separation
from service” (as such term is defined in Treas. Reg. § 1.409A-1(h)), or (ii) the date of Executive’s death (the
“Delay Period”). Within ten (10) days following the expiration of the Delay Period, all payments and benefits delayed
pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such
delay) shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement
shall be paid or provided in accordance with the normal payment dates specified for them herein.

 

(b) Except as otherwise expressly provided
herein, to the extent any expense reimbursement or other in-kind benefit is determined to be subject to Code Section 409A, the
amount of any such expenses eligible for reimbursement or in-kind benefits in one calendar year shall not affect the expenses eligible
for reimbursement or in-kind benefits in any other taxable year (except under any lifetime limit applicable to expenses for medical
care), in no event shall any expenses be reimbursed or in-kind benefits be provided after the last day of the calendar year following
the calendar year in which Executive incurred such expenses or received such benefits, and in no event shall any right to reimbursement
or in-kind benefits be subject to liquidation or exchange for another benefit.

 

    	12

    	 

    
 

 

(c) Any payments made pursuant to Sections
5 or 6, 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.

 

(d) To the extent it is determined
that any benefits described in Sections 5 or 6 are taxable to Executive, they are intended to be payable pursuant to Treas. Reg.
§1.409A-1(b)(9)(v), to the maximum extent permitted by said provision.

 

IN WITNESS WHEREOF, the parties have
executed this Agreement as of the date first above written.

 

	ATTEST:	 	QNB CORP.	 
	 	 	 	 
	/s/ Charles Meredith III	 	By:	/s/ Thomas J. Bisko
	Secretary	 	 	 
	 	 	 	 
	 	 	 	 
	ATTEST:	 	QNB BANK	 
	 	 	 	 
	/s/ Charles Meredith III	 	By:	/s/ Thomas J. Bisko
	Secretary	 	 	 
	 	 	 	 
	 	 	 	 
	WITNESS:	 	EXECUTIVE	 
	 	 	 	 
	/s/ Bret H. Krevolin	 	 	/s/ David W. Freeman

 

 

    	13Stock
Purchase Agreement

 

 

Dated as of December 17, 2012

 

 

By and Among

 

 

IRINA CUDINA,

 

 

ALEX STANBURY,

 

and

 

FARMACIA CORPORATION

 

 

 

    	 

    	 	

    

 

Stock
Purchase Agreement

 

This stock purchase
agreement (“Agreement”), dated as of December __, 2012, is entered into by and among FARMACIA CORPORATION (“Farmacia”
or the “Company”) and IRINA CUDINA (the “Seller”), and ALEX STANBURY (the “Purchaser”
and together with the Company and the Seller, the “Parties”).

 

W
i t n e s s e t h:

 

Whereas,
the Seller is a shareholder of Farmacia, a corporation organized and existing under the laws of the State of Nevada, who owns and/or
controls in the aggregate 1,100,000 shares of common stock, par value $0.00001 per share, of the Company, which represents 52%
of the issued and outstanding shares; and

 

Whereas,
the Purchaser desires to acquire 1,100,000 shares.

 

Now,
Therefore, in consideration of the premises and of the covenants, representations, warranties and agreements herein
contained, the Parties have reached the following agreement with respect to the sale by the Seller of such shares to the Purchaser:

 

Section
1. Construction and Interpretation

 

1.1. Principles of
Construction.

 

(a) All references
to Articles, Sections, subsections and Appendixes are to Articles, Sections, subsections and Appendixes in or to this Agreement
unless otherwise specified. The words “hereof,” “herein” and “hereunder” and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.
The term “including” is not limiting and means “including without limitations.”

 

(b) In the computation
of periods of time from a specified date to a later specified date, the word “from” means “from and including;”
the words “to” and “until” each mean “to but excluding;” and the word “through”
means “to and including.”

 

(c) This Agreement
is the result of negotiations among and has been reviewed by each Party’s counsel. Accordingly, this Agreement shall not
be construed against any Party merely because of such Party’s involvement in its preparation.

 

(d) Wherever in this
Agreement the intent so requires, reference to the neuter, masculine or feminine shall be deemed to include each of the other,
and reference to either the singular or the plural shall be deemed to include the other.

 

Section
2. The Transaction

 

2.1. Purchase Price.

 

The Seller hereby agrees
to sell to the Purchaser, and the Purchaser, in reliance on the representations and warranties contained herein, and subject to
the terms and conditions of this Agreement, agrees to purchase from the Seller 1,100,000 shares (the “Acquired Shares”)
for a total purchase price of $40,000 (the “Purchase Price”), payable in full to the Seller according to the
terms of this Agreement, in United States currency as directed by the Seller at the closing of the transaction contemplated herein
(the “Closing”).

 

    	 

    	 	

    

 

2.2. Transfer of Shares
and Terms of Payment.

 

In consideration for
the transfer of the Acquired Shares by the Seller to the Purchaser, the Purchaser shall pay the Purchase Price in accordance with
the terms of this Agreement. Transfer of the shares and payment thereof shall be in the following manner:

 

		i)	Upon execution of this Agreement, the Purchaser shall transfer the Purchase Price to Anslow &
Jaclin, LLP (the “Escrow Agent”);

 

		ii)	Simultaneously with the transfer of the Purchase Price, the Seller shall deliver to the Escrow
Agent the certificates for the Acquired Shares duly endorsed for transfer or with executed stock powers medallion guaranteed attached
to be released and delivered to Purchaser upon receipt of the Purchase Price by the Escrow Agent.

 

2.3. Closing.

 

Subject to the terms
and conditions of this Agreement, the Closing shall take place by wire transfer and overnight mail on or before December __, 2012
(the “Closing Date”).

 

Section
3. Representations and Warranties 

 

3.1. Representations
and Warranties of the Seller and the Company. The Seller and the Company hereby make the following representations and warranties
to the Purchaser:

 

3.1.1The Company
is a corporation duly organized and validly existing under the laws of the State of Nevada and has all corporate power necessary
to engage in all transactions in which it has been involved, as well as any general business transactions in the future that may
be desired by its directors.

 

3.1.2The Company
is in good standing with the Secretary of State of Nevada.

 

3.1.3Prior to or at Closing, all
of the Company’s outstanding debts and obligations shall be paid off (at no expense or liability to the Purchaser) and the
Seller shall provide evidence of such payoff to the Purchaser’s reasonable satisfaction. Should the Purchaser discover any
obligation of the Company that was not paid prior to the Closing Date, the Seller shall indemnify the Purchaser for any and all
such liabilities, whether outstanding or contingent at the time of Closing.

 

3.1.4The Company
will have no assets or liabilities at the Closing Date.

 

3.1.5The Company
is not subject to any pending or threatened litigation, claims or lawsuits from any party, and there are no pending or threatened
proceedings against the Company by any federal, state or local government, or any department, board, agency or other body thereof.

 

3.1.6The Company
is not a party to any contract, lease or agreement which would subject it to any performance or business obligations after the
Closing.

 

    	2

    	 

    

 

3.1.7The Company
does not own any real estate or any interests in real estate.

 

3.1.8The Company
is not liable for any taxes, including income, real or personal property taxes, to any governmental or state agencies whatsoever.
The Company has timely filed all income, real or personal property, sales, use, employment or other governmental tax returns or
reports required to be filed by it with any federal, state or other governmental agency and all taxes required to be paid by the
Company in respect of such returns have been paid in full. None of such returns are subject to examination by any such taxing authority
and the Company has not received notice of any intention to require the Company to file any additional tax returns in any jurisdiction
to which it may be subject.

 

3.1.9The Company,
to the actual knowledge of Seller, is not in violation of any provision of laws or regulations of federal, state or local government
authorities and agencies.

 

3.1.10The Seller
is the lawful owner of record of the Acquired Shares, and the Seller presently has, and will have at the Closing Date, the power
to transfer and deliver the Acquired Shares to the Purchaser in accordance with the terms of this Agreement. The delivery to the
Purchaser of certificates evidencing the transfer of the Acquired Shares pursuant to the provisions of this Agreement will transfer
to the Purchaser good and marketable title thereto, free and clear of all liens, encumbrances, restrictions and claims of any kind.

 

3.1.11There are
no authorized shares of the Company other than 75,000,000 common shares, and there are 2,100,000 issued and outstanding shares
of the Company. Seller at the Closing Date will have full and valid title to the Acquired Shares, and there will be no existing
impediment or encumbrance to the sale and transfer of the Acquired Shares to the Purchaser; and on delivery to the Purchaser of
the Acquired Shares being sold hereby, all of such Shares shall be free and clear of all liens, encumbrances, charges or assessments
of any kind; such Shares will be legally and validly issued and fully paid and non-assessable shares of the Company’s common
stock; and all such common stock has been issued under duly authorized resolutions of the Board of Directors of the Company.

 

3.1.12All issuances
of the Company of the Shares in past transactions have been legally and validly effected, without violation of any preemptive rights,
if any existed, and all of such shares of common stock are fully paid and non-assessable.

 

3.1.13There are no outstanding subscriptions, options,
warrants, convertible securities or rights or commitments of any nature in regard to the Company’s authorized but unissued
common stock or any agreements restricting the transfer of outstanding or authorized but unissued common stock. There are no shareholders
agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to which the Company
is a party or, to the knowledge of the Company, between or among any of the Company’s shareholders.

 

3.1.14There are
no outstanding judgments, liens or any other security interests filed against the Company or any of its properties.

 

3.1.15The Company
has no subsidiaries.

 

    	3

    	 

    

 

3.1.16The Company
has no employment contracts or agreements with any of its officers, directors, or with any consultants; and the Company has no
employees or other such parties.

 

3.1.17The Company
has no insurance or employee benefit plans whatsoever.

 

3.1.18The Company
is not in default under any contract, or any other document.

 

3.1.19The Company
has no outstanding powers of attorney and no obligations concerning the performance of the Seller concerning this Agreement.

 

3.1.20The execution
and delivery of this Agreement, and the subsequent Closing, will not result in the breach by the Company or the Seller of (i) any
agreement or other instrument to which they are or have been a party or (ii) the Company’s Articles of Incorporation or Bylaws.

 

3.1.21All financial
and other information which the Company and/or the Seller furnished or will furnish to the Purchaser, including information with
regard to the Company and/or the Seller contained in the SEC filings filed by the Company since its inception (i) is true, accurate
and complete as of its date and in all material respects except to the extent such information is superseded by information marked
as such, (ii) does not omit any material fact and is not misleading, and (iii) presents fairly the financial condition of the organization
as of the date and for the period covered thereby.

 

3.1.22The Company
has a Registration Statement on Form S-1 that went effective on May 19, 2011, and there are no proceedings pending to revoke or
terminate such registration. Since such date, the Company has filed all periodic reports with the Securities and Exchange Commission
pursuant to the Securities Exchange Act of 1934, as amended, including its Quarterly Report on Form 10-Q for the period ended July
31, 2012, and all such reports were filed timely.

 

The representations
and warranties herein by the Seller and the Company shall be true and correct in all material respects on and as of the Closing
Date hereof with the same force and effect as though said representations and warranties had been made on and as of the Closing
Date.

 

The representations
and warranties made above shall survive the Closing Date and shall expire for all purposes in the date numerically corresponding
to the Closing Date in the thirty sixth month after the Closing Date.

 

3.2. Covenants of the
Seller and the Company.

 

From the date of this
Agreement and until the Closing Date, the Seller and the Company covenant the following:

 

3.2.1The Seller
will, to the best of her ability, preserve intact the effectiveness of the Company’s Registration Statement on Form S-1.

 

3.2.2The Seller
will furnish Purchaser with all corporate records and documents, such as Articles of Incorporation and Bylaws, minute books, stock
books, or any other corporate document or record (including financial and bank documents, books and records) requested by the Purchaser.

 

    	4

    	 

    

 

3.2.3The Company
will not enter into any contract or business transaction, merger or business combination, make any material purchases or acquisitions,
or incur any further debts or obligations without the express written consent of the Purchaser.

 

3.2.4The Company
will not amend or change its Articles of Incorporation or Bylaws, or issue any further shares or create any other class of shares
in the Company without the express written consent of the Purchaser.

 

3.2.5The Company
will not issue any stock options, warrants or other rights or interests in or to its shares without the express written consent
of the Purchaser.

 

3.2.6The Seller
will not encumber or mortgage any right or interest in her Shares being sold to the Purchaser hereunder, and also they will not
transfer any rights to such shares of the common stock to any third party whatsoever.

 

3.2.7The Company
will not declare any dividend in cash or stock, or any other benefit.

 

3.2.8The Company
will not institute any bonus, benefit, profit sharing, stock option, pension retirement plan or similar arrangement.

 

3.2.9At Closing,
the Company and the Seller will obtain and submit to the Purchaser resignations of current officers and directors.

 

3.2.10The Seller
agrees to indemnify the Purchaser against and to pay any loss, damage, expense or claim or other liability incurred or suffered
by the Purchaser by reason of the breach of any covenant or inaccuracy of any warranty or representation contained in this Agreement.

 

3.2.11 For thirty-six
months after Closing, the Seller agrees to cooperate with the Purchaser and provide the Purchaser and the Company with any documentation
and assistance that they may reasonable require to file Exchange Act on behalf of the Company.

 

3.3Representations
and Warranties of the Purchaser. The Purchaser hereby makes the following representations and warranties to the Seller:

 

3.3.1The
Purchaser has the requisite power and authority to enter into and perform this Agreement and to purchase the shares being sold
to it hereunder. The execution, delivery and performance of this Agreement by such Purchaser and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all necessary action, and no further consent or authorization
of such Purchaser is required. This Agreement has been duly authorized, executed and delivered by such Purchaser and constitutes,
or shall constitute when executed and delivered, a valid and binding obligation of such Purchaser enforceable against such Purchaser
in accordance with the terms thereof.

 

    	5

    	 

    

 

3.3.2The Purchaser
is, and will be at the time of the execution of this Agreement, an “accredited investor”, as such term is defined
in Regulation D promulgated by the Commission under the Securities Act of 1933, as amended (the “1933 Act”), is experienced
in investments and business matters, has made investments of a speculative nature and has purchased securities of United States
publicly-owned companies in the past and, with its representatives, has such knowledge and experience in financial, tax and other
business matters as to enable such Purchaser to utilize the information made available by the
Company to evaluate the merits and risks of and to make an informed investment decision with respect to the proposed purchase,
which represents a speculative investment. The Purchaser has the authority and is duly and legally qualified to purchase and own
shares of the Company. The Purchaser is able to bear the risk of such investment for an indefinite period and to afford a complete
loss thereof. The information set forth on the signature page hereto regarding the
Purchaser is accurate.

 

3.3.3On the Closing
Date, such Purchaser will
purchase the Acquired Shares pursuant to the terms of this Agreement for its own account for investment only and not with a view
toward, or for resale in connection with, the public sale or any distribution thereof.

 

3.3.4The Purchaser
understands and agrees that the Acquired Shares have not been registered under the 1933 Act or any applicable state securities
laws, by reason of their issuance in a transaction that does not require registration under the 1933 Act (based in part on the
accuracy of the representations and warranties of the Purchaser
contained herein), and that such Acquired Shares must be held indefinitely unless a subsequent disposition is registered
under the 1933 Act or any applicable state securities laws or is exempt from such registration. In any event, and subject to compliance
with applicable securities laws, the Purchaser may enter into lawful hedging transactions in the course of hedging the position
they assume and the Purchaser may also enter into lawful short positions or other derivative transactions relating to the Acquired
Shares, or interests in the Acquired Shares, and deliver the Acquired Shares, or interests in the Acquired Shares, to close out
their short or other positions or otherwise settle other transactions, or loan or pledge the Acquired Shares, or interests in
the Acquired Shares, to third parties who in turn may dispose of these Acquired Shares.

 

3.3.5The
Acquired Shares shall bear the following or similar legend:

 

“THE
ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, NOR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN
THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B)
AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT
REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE
SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

    	6

    	 

    

 

3.3.6The offer
to sell the Acquired Shares was directly communicated to the Purchaser by the Company. At no time was the Purchaser presented with
or solicited by any leaflet, newspaper or magazine article, radio or television advertisement, or any other form of general advertising
or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently with such communicated offer.

 

3.3.7Such Purchaser
represents that the foregoing representations and warranties are true and correct as of the date hereof and, unless such Purchaser
otherwise notifies the Company prior to the Closing Date shall be true and correct as of the Closing Date.

 

3.3.8The foregoing
representations and warranties shall survive the Closing Date and for a period of one year thereafter.

 

Section
4. Miscellaneous 

 

4.1. Expenses.

 

Each of the Parties
shall bear his own expenses in connection with the transactions contemplated by this Agreement.

 

4.2. Governing Law.

 

The interpretation
and construction of this Agreement, and all matters relating hereto, shall be governed by the laws of the State of Nevada applicable
to agreements executed and to be wholly performed solely within such state.

 

4.3. Resignation of
Old and Appointment of New Board of Directors and Officers.

 

The Company and the
Seller shall take such corporate action(s) required by the Company’s Articles of Incorporation and/or Bylaws to (a) appoint
the below named persons to their respective positions, to be effective on the eleventh day following the Closing Date, and (b)
obtain and submit to the Purchaser, together with all required corporate action(s) the resignation of the current board of directors,
and any and all corporate officers and check signers as of the Closing Date.

 

	Name	Position
	Alex Stanbury	Director, President, CFO and CEO

 

4.4. Disclosure.

 

The Seller and the
Company agree that they will not make any public comments, statements, or communications with respect to, or otherwise disclose
the execution of this Agreement or the terms and conditions of the transactions contemplated by this Agreement without the prior
written consent of the Purchaser, which consent shall not be unreasonably withheld.

 

    	7

    	 

    

 

4.5. Notices.

 

Any notice or other
communication required or permitted under this Agreement shall be sufficiently given if delivered in person or sent by facsimile
or by overnight registered mail, postage prepaid, addressed as follows:

 

If to Seller, to:

 

Irina Cudina

 

If to the Company:

 

Farmacia Corporation

c/o Anslow & Jaclin, LLP

195 Route 9, Suite 204

Manalapan, NJ 07726

 

With a copy to (which
shall not constitute notice):

 

Anslow & Jaclin,
LLP

195 Route 9, Suite
204

Manalapan, NJ 07726

 

If to the Purchaser, to:

 

Alex Stanbury

____________________

____________________

 

Or such other address
or number as shall be furnished in writing by any such Party, and such notice or communication shall, if properly addressed, be
deemed to have been given as of the date so delivered or sent by facsimile.

 

4.6. Parties in Interest.

 

This Agreement may
not be transferred, assigned or pledged by any Party hereto, other than by operation of law. This Agreement shall be binding upon
and shall inure to the benefit of the Parties hereto and their respective heirs, executors, administrators, successors and permitted
assigns.

 

4.7. Entire Agreement.

 

This Agreement and
the other documents referred to herein contain the entire understanding of the Parties hereto with respect to the subject matter
contained herein. This Agreement shall supersede all prior agreements and understandings between the Parties with respect to the
transactions contemplated herein.

 

4.8. Amendments.

 

This Agreement may
not be amended or modified orally, but only by an agreement in writing signed by the Parties.

 

    	8

    	 

    

 

4.9. Severability.

 

In case any provision
in this Agreement shall be held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
hereof will not in any way be affected or impaired thereby.

 

4.10. Counterparts.

 

This Agreement may
be executed in any number of counterparts, including counterparts transmitted by telecopier, PDF or facsimile transmission, any
one of which shall constitute an original of this Agreement. When counterparts of copies have been executed by all parties, they
shall have the same effect as if the signatures to each counterpart or copy were upon the same document and copies of such documents
shall be deemed valid as originals. The Parties agree that all such signatures may be transferred to a single document upon the
request of any Party.

 

[-signature
page follows-]

 

 

    	9

    	 

    

  

In
Witness Whereof, each of the Parties hereto has caused its/his
name to be hereunto subscribed as of the day and year first above written. 

 

		Company:	 
	 	 	 
	 	FARMACIA CORPORATION	 
	 	 	 
	 	 	 
	 	By: 	/s/ Irina Cudina              	 
	 	Name:	Irina Cudina	 
	 	Title: Chief Executive Officer	 
	 	 	 
	 	 	 
	 	Seller:	 
	 	 	 
	 	By: 	/s/ Irina Cudina	 
	 	Name: Irina Cudina, Individually	 
	 	 	 
	 	 	 
	 	Purchaser:	 
	 	 	 
	 	 	 
	 	By:	/s/ Alex Stanbury	 
	 	Name: Alex Stanbury 	 

 

    	10

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