Document:

EX-4.1

 Exhibit 4.1 

SECOND AMENDMENT TO 364-DAY REVOLVING CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO 364-DAY REVOLVING CREDIT AGREEMENT (this “Amendment”) is made and entered into as of the 18th day of
August, 2014, among NOBLE CORPORATION, a Cayman Islands exempted company limited by shares (the “Company”), JPMORGAN CHASE BANK, N.A., as Administrative Agent, and the Lenders party hereto. 

RECITALS 
 1. The Company,
Administrative Agent and Lenders are parties to that certain 364-Day Revolving Credit Agreement dated as of August 22, 2013 (as amended by that certain First Amendment to 364-Day Revolving Credit Agreement dated as of December 6, 2013 and
as otherwise amended, supplemented or modified, the “Credit Agreement”), pursuant to which the Lenders have made certain loans to and extensions of credit for the account of the Company. 

2. The Company, Administrative Agent and the Lenders party hereto desire to amend the Credit Agreement to, among other things, extend the
Commitment Termination Date to February 20, 2015, as hereinafter set forth. 
 NOW, THEREFORE, in consideration of the mutual covenants
and agreements herein contained, the Company, Administrative Agent and the Lenders party hereto hereby agree as follows: 
 ARTICLE I. —
Definitions and References 
 § 1.1. Terms Defined in the Credit Agreement. Unless the context otherwise requires or
unless otherwise expressly defined herein, capitalized terms which are defined in the Credit Agreement and which are used in this Amendment shall have the meanings given them in the Credit Agreement. 

§ 1.2. Other Defined Terms. Unless the context otherwise requires, the following terms when used in this Amendment shall have the
meanings assigned to them in this § 1.2. 
 “Amendment” means this Second Amendment to 364-Day
Revolving Credit Agreement. 
 “Exiting Lender” means any Person that is a Lender under the Credit Agreement
immediately prior to the execution of this Amendment and not a signatory hereto as a Lender. 
 ARTICLE II. — Amendments 

§ 2.1. Definitions. 

(a) The definition of “Anti-Corruption Laws” set forth in Section 1.1 of the Credit Agreement is hereby amended in its
entirety to read as follows: 

 “Anti-Corruption Laws” means all laws, rules, and regulations of
any jurisdiction applicable to the Company or its Subsidiaries from time to time concerning or relating to bribery or corruption. 
 (b)
Section 1.1 of the Credit Agreement is hereby amended by adding the following new definitions where alphabetically appropriate, which read in their entirety as follows: 

“Designated Persons” means a person or entity: (i) listed in the annex to, or otherwise the subject of
the provisions of, any executive order administered by OFAC or the U.S. Department of State or (ii) named as a “Specially Designated National and Blocked Person” or a “Foreign Sanctions Evaders” on the most current list
published by OFAC at its official website or any replacement website or other replacement official publication of such list; or is otherwise the subject of any Sanctions Laws and Regulations. 

“NHC” means Noble Holding (U.S.) Corporation, a Delaware corporation. 

“NHC Guaranty” means that certain Subsidiary Guaranty Agreement dated as of May 7, 2014 by NHC. 

“Sanctions Laws and Regulations” means economic or financial sanctions or trade embargoes imposed,
administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of
the United Kingdom. 
 “Second Amendment Effective Date” means August 18, 2014. 

(c) Section 1.1 of the Credit Agreement is hereby amended by deleting the definitions of “FCPA”, “NDC”,
“NDC Guaranty”, “Sanctioned Entity” and “Sanctioned Person” set forth therein in their entirety. 

(d) The reference to “August 20, 2014” in clause (i) of the definition of “Commitment Termination Date” set
forth in Section 1.1 of the Credit Agreement is hereby amended to refer instead to “February 20, 2015”. 
 § 2.2. Use
of Proceeds. The second sentence of Section 5.5(a) of the Credit Agreement is hereby amended in its entirety to read as follows: 

The Company and its Subsidiaries shall not, and, to their knowledge, their respective officers, employees, directors and agents (in their
capacity as officers, employees, directors or agents, respectively, of the Company or any of its Subsidiaries), shall not, use the proceeds of any Borrowing (i) to fund any activities or business of or with any Designated Person, or in any
country or territory, that at the time of such funding is the subject of any sanctions under any Sanctions Laws and Regulations (on the Second Amendment Effective Date, Cuba, Iran, North Korea, Sudan, Syria and Ukraine-related), (ii) in any
other manner that would result in a material violation of any Sanctions Laws and Regulations by the Company or its Subsidiaries or (iii) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or
anything else of value, to any Person in violation of any Anti-Corruption Laws. 

  
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 § 2.3. Representations and Warranties. 

(a) Section 5.7 of the Credit Agreement is hereby amended in its entirety to read as follows: 

Section 5.7. Anti-Corruption Laws; Sanctions Laws and Regulations. The Company and its Subsidiaries have instituted
and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations. The Company and its Subsidiaries and, to
the knowledge of the Company and its Subsidiaries, their respective officers, employees, directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations in all material respects (for the avoidance of
doubt, this representation shall not fail to be true and correct due to any failure or failures to comply with Anti-Corruption Laws (i) that are isolated and do not evidence a pervasive or systemic pattern of violations of such laws and
regulations or a significant deficiency in the implementation of the aforesaid policies and procedures to ensure compliance by the Company and its Subsidiaries with Anti-Corruption Laws or (ii) that arise from actions or incidents that have
been publicly disclosed by the Company or disclosed in writing to the Administrative Agent (with a copy to Lenders), in each case, at least twenty (20) days prior to the Second Amendment Effective Date). Neither the Company nor any of its
Subsidiaries, or to their knowledge any of their directors or officers, or any of their respective agents acting or benefiting in any capacity in connection with this Agreement or any other Credit Document, is a Designated Person or is knowingly
engaged in any activity that could reasonably be expected to result in such Person becoming a Designated Person. No Borrowing, use of proceeds or other transaction contemplated by this Agreement will result in a violation of Anti-Corruption Laws or
applicable Sanctions Laws and Regulations by the Company or any of its Subsidiaries. 
 (b) Section 5.8 of the Credit Agreement is
hereby amended in its entirety to read as follows: 
 Section 5.8. Reserved. 

§ 2.4. Covenants. The parenthetical in Section 6.15 of the Credit Agreement is hereby amended in its entirety to read as
follows: “(including, without limitation, environmental laws, and ERISA)” and a new sentence is hereby added at the end of such Section 6.15, to read as follows: 

The Company and its Subsidiaries will maintain in effect and enforce policies and procedures designed to ensure, and which are reasonably
expected to continue to ensure, continued compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations. 

  
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 § 2.5. NHC and NHC Guaranty. The references to “NDC” and “NDC
Guaranty” in the Credit Agreement (other than in Section 4.1 thereof) are hereby amended to refer instead to “NHC” and “NHC Guaranty”, respectively. 

§ 2.6. Exhibit 1.1A. The reference to “Exhibit 1.1A – Form of NDC Guaranty” in the Table of Contents to the Credit
Agreement and Exhibit 1.1A to the Credit Agreement are hereby deleted in their respective entireties. 
 § 2.7. Commitments; Exiting
Lenders. Each Lender’s Commitment is hereby revised to be the “Commitment” set forth opposite such Lender’s name on the Schedule of Commitments attached hereto, and the Schedule of Commitments attached to the Credit Agreement
immediately following the signature pages thereto is hereby amended and replaced in its entirety by the Schedule of Commitments attached hereto. As of the effectiveness hereof, each Exiting Lender shall cease to be a Lender and shall be released
from its obligations under the Credit Agreement. 
 ARTICLE III. — Conditions of Effectiveness 

§ 3.1. Effective Date. This Amendment shall become effective as of the date first written above when and only when the following
conditions have been satisfied or waived in accordance with Section 10.11 of the Credit Agreement: 
 (a) Administrative
Agent shall have received, at Administrative Agent’s office; 
 (i) Amendment. A counterpart of this Amendment
executed and delivered by the Company, Administrative Agent, and the Lenders party hereto; 
 (ii) Guarantor Consent.
A counterpart of the Consent and Agreement attached hereto executed and delivered by each Guarantor; 
 (iii) Company
Officer’s Certificate. Certificates of a Director, the Secretary or an Assistant Secretary of the Company containing specimen signatures of the persons authorized to execute this Amendment and the other Credit Documents to which it is a
party on the Company’s behalf or any other documents provided for herein or therein, together with (x) copies of resolutions of the Board of Directors or other appropriate body of the Company authorizing the execution and delivery of this
Amendment and the other Credit Documents to which the Company is a party, (y) copies of the Company’s memorandum of association and articles of association and other publicly filed organizational documents in its jurisdiction of
incorporation and bylaws and other governing documents, if any, and (z) a certificate of incorporation and a certificate of good standing from the appropriate governing agency of the Company’s jurisdiction of incorporation; 

  
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 (iv) Guarantor Officers’ Certificates. Certificates of the Secretary
or an Assistant Secretary of NHC and a Director of NHIL containing specimen signatures of the persons authorized to execute the Consent and Agreement attached hereto and the Credit Documents to which NHC or NHIL is a party on NHC’s and
NHIL’s behalf or any other documents provided for herein or therein, together with (x) copies of resolutions of the Board of Directors or other appropriate body of NHC and NHIL authorizing the execution and delivery of the Consent and
Agreement attached hereto and the Credit Documents to which NHC or NHIL is a party, (y) copies of NHIL’s memorandum of association and articles of association and other publicly filed organizational documents in its jurisdiction of
incorporation and copies of NHC’s bylaws and other governing documents, if any, and (z) a certificate of incorporation and a certificate of good standing from the appropriate governing agency of NHC’s and NHIL’s jurisdictions of
incorporation; 
 (v) Regulatory Filings and Approvals. Copies of all necessary governmental and third party
approvals, registrations, and filings in respect of the transactions contemplated by this Amendment and the other Credit Documents, and, to the extent requested by any Lender, documentation and other information required by regulatory authorities
under applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the Patriot Act; 

(vi) Closing Certificate. Certificate of a Director, the President or a Vice President of the Company as to the
satisfaction of all conditions set forth in Section 3.1(b) and (c); and 
 (b) Each of the representations and
warranties of the Company set forth in Section 4.1 herein shall be true and correct in all material respects as of the date hereof, except to the extent that any such representation or warranty relates solely to an earlier date, in which case
it shall have been true and correct in all material respects as of such earlier date; 
 (c) No Default or Event of Default
shall have occurred and be continuing; and 
 (d) On or before the date hereof, the Lenders, Administrative Agent and J.P.
Morgan Securities LLC, as the lead arranger (the “Lead Arranger”), shall have received all fees and all reasonable out-of-pocket expenses then due and owing to Administrative Agent, the Lenders, and the Lead Arranger pursuant to the
Credit Agreement or as otherwise agreed in writing by the Company. 
 ARTICLE IV. — Representations and Warranties 

§ 4.1. Representations and Warranties of Company. In order to induce Administrative Agent and Lenders to enter into this
Amendment, Company represents and warrants to Administrative Agent and each Lender on the date hereof that: 
 (a) Each of
the representations and warranties of the Company and its Subsidiaries set forth in the Credit Agreement and in the other Credit Documents are true and correct in all material respects as of the date hereof after giving effect to this Amendment,
except as a result of the transactions expressly permitted hereunder or thereunder and except to the extent that any such representation or warranty relates solely to an earlier date, in which case it shall have been true and correct in all material
respects as of such earlier date; 

  
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 (b) No Default or Event of Default has occurred and is continuing as of the date
hereof or would occur immediately after giving effect to this Amendment; 
 (c) Each of the Credit Parties has the
organizational power and authority to execute, deliver and carry out the terms and provisions of this Amendment to the extent a party hereto and has taken all necessary company action to authorize the execution, delivery and performance hereof. Each
of the Credit Parties has duly executed and delivered this Amendment to the extent a party hereto and such Amendment constitutes the legal, valid and binding obligation of such Credit Party to the extent a party hereto enforceable against it in
accordance with its terms, subject as to enforcement only to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and equitable principles; 

(d) Neither the execution, delivery or performance by any Credit Party of this Amendment to the extent a party hereto nor
compliance by it with the terms and provisions thereof, nor the consummation by it of the transactions contemplated herein or therein, will (i) contravene in any material respect any applicable provision of any law, statute, rule or regulation,
or any applicable order, writ, injunction or decree of any court or governmental instrumentality, (ii) conflict with or result in any breach of any term, covenant, condition or other provision of, or constitute a default under, or result in the
creation or imposition of (or the obligation to create or impose) any Lien other than any Permitted Lien upon any of the property or assets of such Credit Party or any of its Subsidiaries under, the terms of any material contractual obligation to
which such Credit Party or any of its Subsidiaries is a party or by which they or any of their properties or assets are bound or to which they may be subject, or (iii) violate or conflict with any provision of the memorandum of association and
articles of association, charter, articles or certificate of incorporation, partnership or limited liability company agreement, by-laws, or other applicable governance documents of such Credit Party or any of its Subsidiaries; and 

(e) As of the date hereof, all consents and approvals of, and filings and registrations with, and all other actions of, all
governmental agencies, authorities or instrumentalities required to have been obtained or made by the Credit Parties in order to execute, deliver and perform this Amendment to the extent a party hereto, have been or will have been obtained or made
and are or will be in full force and effect. 
 ARTICLE V. — Miscellaneous 

§ 5.1. Ratification of Agreements. The Credit Agreement, as hereby amended, is hereby ratified and confirmed in all respects. The
Credit Documents, as they may be amended or affected by this Amendment, are hereby ratified and confirmed in all respects by each Credit Party to the extent a party hereto. Any reference to the Credit Agreement in any Credit Document shall be deemed
to refer to this Amendment also. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a 

  
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waiver of any right, power or remedy of Administrative Agent, any Issuing Bank or any Lender under the Credit Agreement or any other Credit Document nor constitute a waiver of any provision of
the Credit Agreement or any other Credit Document. As of the date of this Amendment neither the Company nor any Guarantor is aware of any basis for the Company or any Guarantor to make any claim against Administrative Agent or any Lender related to
the Credit Agreement. 
 § 5.2. Survival of Representations. All representations and warranties contained in this Amendment or
made in writing by or on behalf of the Company in connection herewith shall survive the execution and delivery of this Amendment, and shall continue in full force and effect with respect to the date as of which they were made as long as any
Obligation (other than indemnification obligations and other contingent indemnification obligations for which no claims has been made as at any time of determination) is outstanding under the Credit Agreement or any Commitment thereunder is in
effect. 
 § 5.3. Credit Documents. This Amendment is a Credit Document, and all provisions in the Credit Agreement pertaining
to Credit Documents apply hereto. 
 § 5.4. Governing Law. THIS AMENDMENT, AND THE RIGHTS AND DUTIES OF THE PARTIES THERETO,
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK. 
 § 5.5. Execution in
Counterparts. This Amendment may be executed in any number of counterparts, and by different parties on different counterpart signature pages, each of which when executed shall be deemed an original, but all such counterparts taken together
shall constitute one and the same agreement. This Amendment may be validly executed by facsimile or other electronic transmission. 
 §
5.6. ENTIRE AGREEMENT. THIS WRITTEN AGREEMENT TOGETHER WITH THE OTHER CREDIT DOCUMENTS REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 [Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, this Amendment is executed and effective as of the date first written above.

  

			
	NOBLE CORPORATION, a Cayman Islands
exempted company limited by shares, as Borrower
		
	By:	 	/s/ Alan R. Hay
		 	  

	Name:	 	Alan R. Hay
	Title:	 	Director
	
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent and a Lender

		
	By:	 	/s/ Muhammad Hasan
		 	  

	Name:	 	Muhammad Hasan
	Title:	 	Vice President
	
	BARCLAYS BANK PLC, Lender
		
	By:	 	/s/ Vanessa Kurbatskiy
		 	  

	Name:	 	Vanessa Kurbatskiy
	Title:	 	Vice President
	
	CITIBANK, N.A., Lender
		
	By:	 	/s/ Ivan Davey
		 	  

	Name:	 	Ivan Davey
	Title:	 	Vice President
	
	DEUTSCHE BANK AG NEW YORK BRANCH,
	Lender
		
	By:	 	/s/ Virginia Cosenza
		 	  

	Name:	 	Virginia Cosenza
	Title:	 	Vice President
		
	By:	 	/s/ Andreas Neumeier
		 	  

	Name:	 	Andreas Neumeier
	Title:	 	Managing Director

 Second Amendment to 364-Day Facility 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, Lender
		
	By:	 	 /s/ T. Alan Smith

	Name:	 	T. Alan Smith
	Title:	 	Managing Director
	
	BNP PARIBAS, Lender
		
	By:	 	 /s/ Ann Rhoads

	Name:	 	Ann Rhoads
	Title:	 	Managing Director
		
	By:	 	 /s/ Sriram Chandrasekaran

	Name:	 	Sriram Chandrasekaran
	Title:	 	Director
	
	CREDIT AGRICOLE CORPORATE & INVESTMENT BANK, Lender
		
	By:	 	 /s/ Page Dillehunt

	Name:	 	Page Dillehunt
	Title:	 	Managing Director
		
	By:	 	 /s/ Ting Lee

	Name:	 	Ting Lee
	Title:	 	Director
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, Lender
		
	By:	 	 /s/ Nupur Kumar

	Name:	 	Nupur Kumar
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Sam Miller

	Name:	 	Sam Miller
	Title:	 	Authorized Signatory

  
 Second Amendment to
364-Day Facility 

 
			
	
	HSBC BANK USA, N.A., Lender
		
	By:	 	 /s/ Steven Smith

	Name:	 	Steven Smith
	Title:	 	Director
	
	SUNTRUST BANK, Lender
		
	By:	 	 /s/ Chulley Bogle

	Name:	 	Chulley Bogle
	Title:	 	Vice President
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
	Lender
		
	By:	 	 /s/ Andrew Oram

	Name:	 	Andrew Oram
	Title:	 	Managing Director
	
	DNB CAPITAL LLC, Lender
		
	By:	 	 /s/ Cathleen Buckley

	Name:	 	Cathleen Buckley
	Title:	 	Senior Vice President
		
	By:	 	 /s/ Florianne Robin

	Name:	 	Florianne Robin
	Title:	 	First Vice President
	
	MIZUHO BANK, LTD, Lender
		
	By:	 	 /s/ Leon Mo

	Name:	 	Leon Mo
	Title:	 	Authorized Signatory

  
 Second Amendment to
364-Day Facility 

 
			
	STANDARD CHARTERED BANK, Lender
		
	By:	 	/s/ Steven Aloupis
	Name:	 	Steven Aloupis
	Title:	 	Managing Director
		
	By:	 	/s/ Hsing H. Huang
	Name:	 	Hsing H. Huang
	Title:	 	Associate Director

  
 Second Amendment to
364-Day Facility 

 CONSENT AND AGREEMENT 

Each undersigned Guarantor hereby (i) consents to the provisions of this Amendment, (ii) ratifies and confirms its Guaranty of the
Obligations, (iii) agrees that all of its respective obligations and covenants under such Guaranty shall remain unimpaired by the execution and delivery of this Amendment, and (iv) agrees that such Guaranty shall remain in full force and
effect. 
  

			
	NOBLE HOLDING INTERNATIONAL LIMITED
		
	By:	 	/s/ Alan R. Hay
		 	Name: Alan R. Hay
		 	Title: Director
	
	NOBLE HOLDING (U.S.) CORPORATION
		
	By:	 	/s/ Dennis J. Lubojacky
		 	Name: Dennis J. Lubojacky
		 	Title: President

  
 Second Amendment to
364-Day Facility 

 COMMITMENTS 
  

									
	 Lender
	  	Commitment	 	  	Percentage*	 
	 JPMorgan Chase Bank, N.A.
	  	$	59,000,000	  	  	 	9.8333333333	% 
	 Barclays Bank PLC
	  	$	59,000,000	  	  	 	9.8333333333	% 
	 Citibank, N.A.
	  	$	59,000,000	  	  	 	9.8333333333	% 
	 Deutsche Bank AG New York Branch
	  	$	59,000,000	  	  	 	9.8333333333	% 
	 Wells Fargo Bank, National Association
	  	$	59,000,000	  	  	 	9.8333333333	% 
	 BNP Paribas
	  	$	39,000,000	  	  	 	6.5000000000	% 
	 Credit Agricole Corporate & Investment Bank
	  	$	39,000,000	  	  	 	6.5000000000	% 
	 Credit Suisse AG, Cayman Islands Branch
	  	$	39,000,000	  	  	 	6.5000000000	% 
	 HSBC Bank USA, N.A.
	  	$	39,000,000	  	  	 	6.5000000000	% 
	 SunTrust Bank
	  	$	39,000,000	  	  	 	6.5000000000	% 
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	$	35,000,000	  	  	 	5.8333333333	% 
	 DNB Capital LLC
	  	$	25,000,000	  	  	 	4.1666666667	% 
	 Mizuho Bank, LTD
	  	$	25,000,000	  	  	 	4.1666666667	% 
	 Standard Chartered Bank
	  	$	25,000,000	  	  	 	4.1666666667	% 
	 TOTAL
	  	$	600,000,000	  	  	 	100.0000000000	% 

  

	*	Rounded to 10 decimal places 

  
 Second Amendment to
364-Day FacilityEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT (“Agreement”) is made as of this     th day of
            , 2015 (the “Effective Date”), between UNIVEST BANK AND TRUST CO., a Pennsylvania bank and trust company (the “Bank”), and JAY R. GOLDSTEIN, an
adult individual (“Executive”). 
 WITNESSETH: 

WHEREAS, Univest Corporation of Pennsylvania, a Pennsylvania business corporation (the “Corporation”), the Bank and Valley
Green Bank have entered into an Agreement and Plan of Merger (the “Merger Agreement”), dated as of June     , 2014, pursuant to which Valley Green Bank will merge into the Bank (the “Merger”), with the
Bank as the surviving entity. The term “Valley Green Bank” as used herein shall mean Valley Green Bank prior to the effective date of the Merger and shall mean the Valley Green Bank Division of the Bank on and after the effective date of
the Merger. 
 WHEREAS, the Bank and Executive desire to enter into an agreement providing for the terms of Executive’s
employment with the Bank. 
 AGREEMENT 

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

1. Employment. The Bank hereby employs Executive and Executive hereby accepts employment with the Bank, on the terms and
conditions set forth in this Agreement. 
 2. Duties of Employee. Executive shall serve as President of the Valley Green
Divisions of the Bank, reporting directly and exclusively to the Chief Executive Officer of the Bank (the “CEO”), and shall have such powers and duties as may from time to time be reasonably prescribed by the CEO, provided such powers and
duties are consistent with Executive’s position as an executive officer of the Bank. Executive shall upon the commencement of this Agreement be appointed to the Board of Directors of the Corporation (the “Board”) as a Director.
Executive shall devote his full time, attention and energies to the business of 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 business activity with the prior approval of the Board and the Board of Directors of the Bank (the “Bank Board”). 

  
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 3. Term of Agreement. 

(a) Employment Period. This Agreement shall be for a period (the “Employment Period”) beginning on the Effective Date, and if
not previously terminated pursuant to the terms of this Agreement, ending on the date that is one (1) year subsequent thereto. 
 (b)
Notwithstanding anything herein contained to the contrary, nothing in this Agreement shall mandate or prohibit a continuation of Executive’s employment following the expiration of the term of this Agreement upon such terms as the Bank and
Executive may mutually agree. 
 (c) Termination for Cause. Notwithstanding the provisions of Section 3(a) of this Agreement,
this Agreement may be terminated by the Bank for Cause (as defined herein). As used in this Agreement, “Cause” shall mean any of the following: 

(i) willfully fails or refuses to substantially perform the Executive’s responsibilities under this Agreement, after written demand for
substantial performance has been given by the Bank Board that specifically identifies how the Executive has failed to perform such responsibilities; 

(ii) engages in gross misconduct which is materially and demonstrably injurious to the Corporation or the Bank; 

(iii) materially fails to adhere to any written policy of the Bank generally applicable to officers of the Bank after being provided with a
reasonable opportunity of thirty (30) days to comply with such policy or cure the failure to comply; 
 (iv) is convicted of a felony
or pleads guilty or nolo contendere to a felony; 
 (v) materially breaches Section 6 of this Agreement; 

(vi) engages in any act of fraud (including misappropriation of the Corporation’s or the Bank’s funds or property) in connection
with the business of the Corporation or Bank which is materially and demonstrably injurious to the Corporation or the Bank; or 
 (vii) is
disqualified or barred by any governmental or self-regulatory authority from serving in the capacity contemplated by this Agreement 

For purposes of this Agreement, no act or omission on the part of the Executive shall be considered “willful” unless it is done or omitted in bad
faith or without reasonable belief that the act or omission was in the best interests of the Bank. Any act or omission based upon a resolution duly adopted by the Bank Board or upon advice of counsel for the Bank shall be conclusively presumed to
have been done or omitted in good faith and in the best interests of the Bank. 

  
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 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 his Annual Base Salary and any accrued but unused vacation and personal days 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 Bank then in effect. 

(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 (x) the unpaid
portion, if any, of his Annual Base Salary through date of death and (y) a portion of his bonus proportionate to the portion of the Employment Period that has elapsed and (ii) the Bank shall provide to Executive’s dependents any
benefits due under the Bank’s employee benefit plans. 
 (e) Disability. Executive and the Bank agree that if Executive becomes
Disabled, within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations thereunder, and becomes eligible for employer-provided short-term and/or long-term disability benefits, or worker’s compensation benefits, then (x) the Bank’s obligation to pay Executive his Annual Base Salary shall
be reduced by the amount of the disability or worker’s compensation benefits received by Executive and (y) the Bank shall pay to Executive a portion of his bonus proportionate to the portion of the Employment Period that has elapsed. 

Executive and the Bank agree that if, in the reasonable judgment of the Bank Board, Executive is unable, as a result of illness or injury, to
perform the essential functions of his position on a full-time basis with or without a reasonable accommodation and without posing a direct threat to himself or others for a period of six months, 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 Bank’s employee benefit plans. 

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 $395,000 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”). 

(b) Bonus. For services performed by the Executive under this Agreement, the Bank will pay the Executive a guaranteed bonus, during the
Employment Period, in the amount of $70,000.00. The payment of any such bonus will not reduce or otherwise effect any other obligation of the Bank to the Executive provided for in this Agreement. 

  
 3 

 (c) Employee Benefit Plans. During the term of this Agreement, Executive shall be entitled
to participate in or receive the benefits of any employee benefit plan currently in effect at the Bank, including without limitation those benefits set forth in Schedule A, and subject to the eligibility and terms of each such plan, until such time
that the Bank Board authorizes a change in such benefits. The Bank shall not make any changes in such plans or benefits which would adversely affect Executive’s rights or benefits thereunder, unless such change occurs pursuant to a program
applicable to all executive officers of Bank and does not result in a proportionately greater adverse change in the rights of or benefits to Executive as compared with any other executive officer of Bank. Nothing paid to Executive under any plan or
arrangement presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to Executive pursuant to Section 4(a) hereof. 

(d) Perquisites and Business Expenses. During the term of this Agreement, Executive shall be entitled to receive customary and normal
perquisites provided to other executive officers of the Bank which shall include use of a monthly parking space in the Center City area of Philadelphia, PA and reimbursement for annual membership and entertainment expenses at Germantown Cricket
Club. During the term of this Agreement, Executive shall be entitled to receive prompt reimbursement for all customary and usual expenses incurred by him (including automobile and mobile telephone expenses), which are properly accounted for, in
accordance with the policies and procedures established by the Bank (which shall not be less than $700 per month) in accordance with industry practice for its executive officers. 

5. Rights in Event of Termination of Employment. 

(a) In the event that Executive’s employment is involuntarily terminated by the Bank without Cause (other than for death or Disability)
during the term of this Agreement or if Executive’s employment is voluntarily terminated by Executive for Good Reason during the term of this Agreement (defined in Section 5(b) below), Executive shall be entitled to receive the
compensation set forth below: 
 (i) Executive shall be paid, within twenty (20) days following termination, a lump sum cash payment
equal to (A) the Annual Base Salary that Executive would have been paid over the then remaining term of the Employment Period, plus (B) the bonus payable pursuant to Section 4(b). The amount shall be subject to federal, state and
local tax withholdings. 
 (ii) 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. 

(b) As used in this Agreement, the term “Good Reason” shall mean (i) a material diminution in salary, (ii) a material
diminution in authority, duties or responsibilities, (iii) a 

  
 4 

 
change in Executive’s title, (iv) change in Executive’s reporting line so that the Executive no longer reports directly and exclusively to the CEO, (v) a breach of this
Agreement by the Bank, (vi) removal of Executive from his position as a director on the Board, or (vii) a reassignment which assigns full-time employment duties to Executive outside the Valley Green
Division of the Bank (which shall include Philadelphia County, Eastern Montgomery County (inside the PA turnpike), Western Montgomery County (inside the Blue Route), and Delaware County (inside the Blue Route)) in all cases after notice from
Executive to 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 Bank to cure such situation within thirty (30) days after said notice. 

6. 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 6(c) hereof, Executive shall not: 
 (i) enter into or be
engaged (other than by the Corporation or the Bank), directly or indirectly, either for his 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 (including, without limitation, participating in the organization of a de novo bank or joining the board of directors of a bank), 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 (including Valley Green Bank) are located (“Non-Competition Area”); 
 (ii) for or on behalf of Executive or a same, similar or
competitive business as the Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank), solicit, provide services to, contract with, or accept business from any person or entity which (i) was or has been a client of the
Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank within one (1) year prior to the cessation of Executive’s employment and with whom you had business dealings during that period, or (ii) received a new
business proposal from Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank) within one (1) year prior to the cessation of Executive’s employment; 

(iii) solicit, encourage or induce any person or entity with the effect or for the purpose (which need not be the sole or primary effect or
purpose) of: (i) causing any material deposits or other funds with respect to which Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank) provides services to be withdrawn, (ii) causing any client of
Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank) to refrain from engaging Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank), or (iii) causing any client to terminate or materially
diminish its relationship with Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank); and/or 

  
 5 

 (iv) (x) induce, offer, assist, solicit, encourage or suggest, in any manner whatsoever,
(1) that Executive or another business or enterprise offer employment to or enter into a business affiliation with any employee, agent or representative of the Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank),
or (2) that any employee, agent or representative of Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank) terminate his or her employment or business affiliation with Corporation, the Bank, or any of their
subsidiaries (including Valley Green Bank); or (y) hire, employ or contract with any employee, agent or representative of Corporation, the Bank, or any of their subsidiaries (including Valley Green Bank). 

Notwithstanding the foregoing, Executive shall not be prohibited from making personal investments, loans or real estate transactions comparable to such
transactions which would have been permitted during Executive’s employment with the Corporation or Bank. 
 (b) It is expressly
understood and agreed that, although the parties consider the restrictions contained in Section 6(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 6(a) hereof is an unreasonable or otherwise unenforceable restriction against
Executive, the provisions of Section 6(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 6 shall be applicable commencing on the date of this Agreement and continuing for twelve
(12) months after the consummation of the transaction contemplated by the Merger Agreement. Notwithstanding the above provisions, if Executive violates the provisions of this Section 6 and the Corporation or the Bank must seek enforcement
of the provisions of Section 6 and is successful in enforcing the provisions, either pursuant to a settlement agreement, or pursuant to court order, the covenant not to compete will remain in effect for one full year following the date of the
settlement agreement or court order. 
 (d) Executive acknowledges that the terms and conditions of Section 6 are reasonable and
necessary to protect the Corporation and the Bank, their subsidiaries, and affiliates, and that Corporation and the Bank’s tender of performance under this Agreement, including the payment of the amounts and benefits under Section 5, is
fair, adequate and valid consideration in exchange for his promises under this Section 6 of this Agreement. 
 (e) Executive hereby
agrees that the provisions of this Section 6 are fully assignable by the Corporation and the Bank to any successor. Executive also acknowledges that the terms and conditions of this Section 6 will not be affected by the circumstances
surrounding his termination of employment, absent a breach of this Agreement by Corporation. 
 (f) Executive acknowledges and agrees that
any breach of the restrictions set forth in this Section 6 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 (including, but not limited to, termination of service on the Board) in order to enforce provisions hereof. Upon obtaining any such final and nonappealable injunction, the 

  
 6 

 
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. 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. 

7. Unauthorized Disclosure. During the term of his employment hereunder, or at any later time, Executive shall not, without the
written consent of 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 his duties as an executive of the Bank, any material confidential information obtained by him while in the employ of 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 (i) 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), (ii) any information of a type not otherwise considered confidential by persons engaged in the same business or a business similar to that conducted by the Corporation and the Bank or any
information that must be disclosed as required by law, (iii) any information that, at the time of disclosure is, or thereafter becomes available to Executive on a non-confidential basis from a third-party source, provided that, to
Executive’s knowledge, such third party is not and was not prohibited from disclosing such confidential information to Executive by any contractual obligation, (iv) any information that was known by or in the possession of Executive prior
to being disclosed by or on behalf of the Corporation, the Bank or any of their subsidiaries and (v) any information that was or is independently developed by Executive without reference to or use of any of such confidential information. 

8. Requirement of Release; Cessation and Recovery on Competition. Notwithstanding anything herein to the contrary,
Executive’s entitlement to any payments under Section 5 shall be contingent upon Executive’s prior agreement with and signature to a complete release agreement in the form as mutually agreed by the parties. Such release agreement
shall be executed, if at all, and the applicable payments and benefits contingent upon the execution of such agreement shall be provided or commence being provided, if at all, within sixty (60) days following the date of termination; provided,
however, that if such sixty (60) day period begins in one taxable year and ends in a second taxable year, the payments and benefits will be provided or commence being provided, if at all, in the second taxable year. 

9. Indemnification; Liability Insurance. 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 him by reason of the fact that he is or was a director, officer, employee or agent of the Bank or is or was serving at the written request of 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. The Company shall promptly reimburse (and/or 

  
 7 

 
advance to the extent reasonably required) Executive for reasonable legal or other expenses (as incurred) of Executive in connection with investigating, preparing to defend or defending any
action, suit or proceeding for which Executive may be indemnified pursuant to this Section 9. 
 10. 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 (a) when delivered by hand (with written confirmation of receipt), (b) when received
by the addressee if sent by a nationally recognized overnight courier (receipt requested), (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient,
and on the next business day if sent after normal business hours of the recipient or (d) on the third day after the date mailed by registered or certified U.S. mail, postage prepaid with return receipt requested. Any such notice must be sent to
the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 10): in the case of notices to Executive,
                                         with a
copy (which shall not constitute notice) to Kleinbard Bell & Brecker LLP, One Liberty Place, 46th Floor, 1650 Market Street, Philadelphia, PA 19103 and in the case of notice to the Bank,
.. 
 11. 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. 

12. Assignment. This Agreement shall not be assignable by any party, except by the Bank to any successor in interest to its
business. 
 13. 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. 
 14.
Successors; Binding Agreement. 
 (a) The Bank will require any successor (whether direct or indirect, by purchase, merger,
consolidation, or otherwise) to all or substantially all of the business and/or assets of the Bank to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Bank would be required to perform it if no
such succession had taken place. As used in this Agreement, “Bank” shall mean 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 following termination of Executive’s employment without Cause or for Good Reason, 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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 15. Legal Expenses. The Bank shall reimburse Executive for all reasonable legal
fees and expenses he may incur in seeking to obtain or enforce any right or benefit provided by this Agreement, but only with respect to such claim or claims upon which Executive prevails. Such payments shall be made within fourteen (14) days
after delivery of Executive’s written request for payment accompanied with such evidence of fees and expenses incurred as the Bank may reasonably require. 

16. 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. 
 17. 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. 

18. 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. 
 19. Limitations on Payments. 

(a) Notwithstanding anything in this Agreement to the contrary, in the event the payments and benefits payable hereunder to or on behalf of
Executive (which the parties agree will not include any portion of payments allocated to the non-compete provisions of Section 6 which are classified as payments of reasonable compensation for purposes of
Section 280G of the Code), 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 Section 4999 of the Internal Revenue Code of 1986, as amended (the
“Code”), 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 subsection will be made by the Bank’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 subsection are complex and agree to deal with each other in good faith to resolve
any questions or disagreements arising hereunder. 
 (b) All payments made to the Executive pursuant to this Agreement or otherwise, are
subject to and conditioned upon their compliance with applicable laws and any regulations promulgated thereunder. 
 20. Recovery of
Bonuses and Incentive Compensation. Notwithstanding anything in this Agreement to the contrary, all incentive compensation, but not Annual Base Salary, the bonuses payable under Section 4(b) or payments due Executive under
Section 5, paid hereunder (whether in equity or in cash) shall be subject to recovery by 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 

  
 9 

 
recovery of a bonus or incentive compensation shall be made within twenty-four (24) months following the date such bonus or incentive compensation was
paid. In the event that the Bank Board determines that a bonus or incentive compensation payment to Executive is recoverable, 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 Bank of the same. 
 21. 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. Notwithstanding the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to Executive that would not be required to be delayed if the premiums therefore were paid by Executive, Executive
shall pay the full costs of premiums for such welfare benefits during the Delay Period and the Bank shall pay Executive an amount equal to the amount of such premiums paid by Executive during the Delay Period within ten (10) days after the
conclusion of such Delay Period. 
 (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. 

(c) Any payments made pursuant to Sections 5 and 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 3(c-1)(ii), 5(a)(i) and 6(a)(i) 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. 

  
 10 

 22. Limitation on Payments. All payments made to the Executive pursuant to this Agreement,
or otherwise, are subject to and conditioned upon their compliance with applicable laws and any regulations promulgated thereunder, including, without limitation, 12 C.F.R. Part 359. 

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 

  
 11 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. 

 

							
	ATTEST:	 		 	UNIVEST BANK AND TRUST CO.
				
	  
	 		 	By:	 	  

	Secretary	 		 		 	
			
	WITNESS:	 		 	JAY R. GOLDSTEIN
			
	  
	 		 	  

  
 12 

 SCHEDULE A 

BENEFITS 
 Employee benefits
currently in effect at the Bank: 
  

	 	•	 	Medical Insurance Program 

  

	 	•	 	Dental Insurance Program 

  

	 	•	 	Basic Life Insurance/AD&D Program 

  

	 	•	 	Supplemental Life Insurance Program 

  

	 	•	 	Long Term Disability Insurance 

  

	 	•	 	Supplemental Executive Long Term Disability Insurance 

  

	 	•	 	401(k) Plan 

  

	 	•	 	Employee Stock Purchase Plan 

  

	 	•	 	Medical and Dependent Care Flexible Spending Accounts 

  

	 	•	 	Vision and Hearing Program 

  

	 	•	 	Unlimited Paid Time Off 

  

	 	•	 	Fully Funded Short Term Disability Program 

  
 13

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