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                                                                    EXHIBIT 10.1

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                         PROFIT SHARING RETIREMENT PLAN
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Your profit sharing retirement plan is designed to provide you with the
opportunity to accumulate funds for your retirement. The plan is desirable
because it benefits both you and your employer. Your employer benefits because
the employer's annual contribution to the plan is tax deductible. You benefit
because funds accumulate for you each year but with no income tax due until you
actually receive the funds after you retire. While the funds you receive after
retirement are taxable, you will no longer be receiving a salary and will most
likely be in a lower tax bracket.

1.   Plan Administration

Your employer has provided for the formation of a committee of not less than
three individuals, known as the "Administrative Committee." This committee has
all powers necessary to carry out the terms and provisions of your plan. All
questions of administration, interpretation and application of the plan are
handled by the Administrative Committee.

2.   Eligibility to Participate in Plan

You become a participant in the plan on the first day of the month following
completion of one year of service. In order to complete a year of service, you
must accumulate at least one thousand (1,000) hours of employment in that twelve
month period beginning on the first day of your employment. If you fail to
accumulate one thousand (1,000) hours in the twelve month period beginning with
the first day of employment you are not eligible to participate in the plan. The
twelve month eligibility computation period then shifts to the plan year,
January 1 to December 31. You have a chance to accumulate one thousand (1,000)
hours in the twelve month period which begins on January 1 which follows your
first day of employment and additional chances in each succeeding year beginning
on January 1. If you are a full-time employee, you should have no trouble
accumulating at least one thousand (1,000) hours in a year's time. If you are a
part-time employee, you may or may not accumulate one thousand (1,000) hours in
twelve months. An example when an employee becomes eligible is as follows:

Date of Employment   Hours of Employment   Years of Service  Date of Eligibility
------------------   -------------------   ----------------  -------------------
June 5, 2000             999 or fewer             No           Not Eligible
June 5, 2000            1000 or more              Yes          July 1, 2001
December 1, 2000        1000 or more              Yes          January 1, 2002

If you fail to accumulate one thousand (1,000) hours of service in the initial
computation period, but do accumulate one thousand (1,000) hours of service in a
later plan year, (for example, 2001), you become eligible the following January
1 (January 1, 2002).

3.   Rehiring of Terminated Participants

If you quit your job and are not fully vested (that is you do not have
sufficient years of service to be entitled to 100% of your accumulated fund
balance), the portion of your fund balance which
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is not vested is placed in a suspense account and remains in the suspense
account until you incur a break in service. Once you have incurred a break in
service, the funds in the suspense account are allocated to the remaining plan
participants and you cannot recover these funds.

It is possible that sometime after you quit your job, you will be rehired. If
you are rehired before you incur a one-year break in service, the portion of
your fund balance that was not vested and was placed in the suspense account
will be returned to your account. You will immediately go back into the plan and
your vesting will continue as though you had never quit. If you are rehired
after you incur a one-year break in service, you will immediately go back into
the plan and your vesting will continue as though you had never quit. However,
you cannot recover any non-vested portion of your fund balance which you
forfeited when you incurred the break in service. You are permitted to repay the
vested portion of your fund balance (which you received when you quit) to the
plan.

4.   Plan Contributions

To be eligible for a share of your employer's contributions, you must be a plan
participant, you must accumulate at least one thousand (1,000) hours of service
during the plan year, and you must still be employed at the end of the year,
December 31. (If you retire, are disabled, or die during the year, you or your
beneficiary is still eligible for a share of the contribution.)

The amount your employer may contribute to your retirement trust fund is
contingent upon current or accumulated profits and the deduction for the
contribution is limited by law to no more than 15% of the total eligible W-2
wages of the eligible plan participants. Keep in mind that if you become
eligible to participate in the plan during the year, your eligible salary upon
which the contribution is based is limited to what you earn from the date you
become a plan participant until the end of the year. If for example you were
hired October 17, 2000, you would become eligible to participate in the plan on
November 1, 2001. You would receive no contribution for 2000. Your contribution
for 2001 would be based on no more than 15% of your salary earned from November
1 to December 31, 2001. Salary shall mean the participant's annual base salary
and shall not include bonus, commissions, or other forms of earnings unless
specifically approved by the Administrative Committee and applied in a
non-discriminatory manner.

5.   Distributions

Any distribution made after December 31, 1992, that qualifies as an eligible
rollover distribution is subject to mandatory 20% withholding. No withholding is
required however, if the participant elects a trustee-to-trustee transfer. The
plan administrator will provide written guidance to participants who are to
receive distributions in reasonable time to enable the participants to elect a
trustee-to-trustee transfer.

6.   Claims and Claim Reviews

You or your beneficiary have the right to file a claim for benefits under the
plan if for any reason you or your beneficiary have been denied a benefit, or
feel aggrieved by any other action of the
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employer or Administrative Committee. Claims are to be filed on forms supplied
by the employer. You must receive written notice of the disposition of the claim
within thirty (30) days of filing your claim. If the claim is denied, the
reasons for the denial shall be specifically set forth and pertinent provisions
of the plan cited. If you wish to further pursue your claim, you can request a
hearing in writing on forms supplied by the employer. The request for a hearing
must be made within ninety (90) days of the original disposition of your claim.
The employer then must schedule a hearing within the next thirty (30) days after
receiving your request. The decision following such hearing must be communicated
in writing to you within thirty (30) days of the hearing.

7.   Trust Fund Investments

Your employer has appointed the Trust Department of the Bank to administer the
Trust Fund where the assets of the plan are held. The Trust Fund consists of two
investment funds designated as Fund "A" and Fund "B".

Fund "A" is a mixed fund consisting mostly of CDs, stocks, bonds and mortgages
of good quality. The investment objective is to provide growth potential along
with income.

Fund "B" is a fund consisting of investments in which the principal will be
guaranteed by the Federal government or one of its agencies. The investment
objective is to provide complete protection of principal along with interest
income.

Your contributions will be invested in fund "A" until you reach age 50 at which
time you will have the option of transferring your balance, the first year after
attaining age 50 or any subsequent year prior to retirement, to Fund "B". Once
the option is elected, all future allocations will be made to Fund "B". This
election to transfer was adopted in order to provide complete protection of your
trust fund balance during your final years of employment before retirement. The
election must be in writing to the Administrative Committee.

When you become eligible to participate in the Profit Sharing Retirement Plan,
you should contact the Trust Officer of the Bank and complete the Beneficiary
form. At that time, you will receive a copy of the SUMMARY PLAN DESCRIPTION of
the Profit Sharing Plan.<PAGE>

                                                                    EXHIBIT 10.2

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                          EMPLOYEE STOCK OWNERSHIP PLAN
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The Mid Penn Bank wishes to recognize the efforts its employees have made to its
success and to reward them by adopting an Employee Stock Ownership Plan. This
Plan will be for the exclusive benefit of eligible employees and their
beneficiaries.

The purpose of this Plan is to reward eligible employees for long and loyal
service by providing them with retirements benefits.

Between now and your retirement, your Employer intends to make contributions for
you and other eligible employees. Contributions to the Plan will be invested
primarily in Company Stock. Your efforts added to the efforts of all other
employees contribute to the profitability and growth of the Employer and thereby
increase the value of Company Stock and your benefits in the Plan. When you
retire, you will be entitled to receive the value of the amounts which have been
accumulated in your account in the form of Company Stock.

I.   Participation In Your Plan

Before you become a member or a "participant" in the Plan, there are certain
eligibility and participation rules which you must meet.

     A.   Eligibility Requirements

     You will be eligible to participate in the Plan if you have completed one
(1) Year of Service. Year of Service is defined on page EB 29.

     B.   Participation Requirements

     You will become a participant on the first day of the month coinciding with
or following the date you satisfy the eligibility requirements.

II.  Contributions To Your Plan

Each year, your Employer's contribution, if any, will be placed into a trust
fund for the benefit of the Plan participants. The Administrator of your Plan
will then establish and maintain a separate account for you and all other
participants, into which the contributions will be placed.

Your employer will determine the amount to contribute to your Plan. This
contribution is discretionary.

You must complete a Year of Service during the Plan Year and be actively
employed on the last day of the Plan Year to share in this contribution.

Your employer's contribution will be "allocated" or divided among participants
eligible to share in the contribution for the Plan Year. Your share of the
contribution will depend upon how much
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compensation you received during the year and the compensation received by other
eligible participants.

     A.   Compensation

     For the purposes of your Plan, compensation is defined as your total
     compensation that is subject to income tax, that is, all of your
     compensation paid to you by your employer during the year, but excluding
     commissions, bonuses, and salary reduction contributions to any plan or
     arrangement maintained by your Employer.

     B.   Forfeitures

     Forfeitures are created when participants terminate employment before
     becoming entitled to their full benefits under the Plan. Forfeitures will
     be "allocated" or divided among participants eligible to share for a Plan
     Year.

     C.   Transfers From Qualified Plans (Rollovers)

     At the discretion of the Administrator, you may be permitted to deposit
     into your Plan distributions you have received from other plans. Your
     rollover will be placed in a separate account called a "participant's
     rollover account". You will always be 100% vested in your "rollover
     account".

     D.   Directed Investments

     When you have completed ten (10) years of service as a participant and have
     attained age fifty-five, you will have the right to direct the investment
     of a portion of your account attributable to Company Stock.

III. Benefits Under Your Plan

     A.   Distribution Of Benefits Upon Normal Retirement

     Your normal Retirement Date is the Anniversary Date coinciding with or next
     following your Normal Retirement Age. Your Normal Retirement Age is
     attained at age 65.

     At your Normal Retirement Age, you will be entitled to 100% of your account
     balance. Payment of your benefits will, at your election, begin as soon as
     practicable following your actual retirement but not prior to your Normal
     Retirement Date.

     B.   Distribution of Benefits Upon Death

     Your beneficiary will be entitled to 100% of your account balance upon your
     death.

     C.   Distribution of Benefits Upon Disability
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     Under your Plan, disability is defined as a physical or mental condition
     resulting from bodily injury, disease, or mental disorder which renders you
     incapable of continuing your usual and customary employment with your
     Employer. Your disability will be determined by a licensed physician chosen
     by the Administrator.

     If you become disabled while a participant, you will be entitled to 100% of
     your account balance. Payment of your disability benefits will be made to
     you as if you had retired.

     D.   Distribution Of Benefits Upon Termination Of Employment

     Your Plan is designed to encourage you to stay with your Employer until
     retirement. Payment of your account balance under your Plan is only
     available upon your Death, Disability or Retirement.

     If your employment terminates for reasons other than those listed above,
     you will be entitled to receive only your "vested percentage" of your
     account balance and the remainder of your account will be forfeited.

     E.   Vesting in Your Plan

     Your "vested percentage" in your account is determined under the following
     schedule and is based on vesting Years Of Service.

                                Vesting Schedule

                  Years of Service                  Percentage
                  ----------------                  ----------
                     Less than 3                         0%
                         3                              20%
                         4                              40%
                         5                              60%
                         6                              80%
                         7                             100%

     F.   Benefit Payment Options

     The Administrator, in accordance with your election, will direct the
     Trustee to pay our benefits to you under one or more of the following
     options:

          1.   A single lump-sum payment

          2.   Installments over a period not extending beyond the earlier of
          your assumed life expectancy determined at the time of distribution.

     Distribution of your account at retirement will be in the form of cash or
     Company Stock or both.
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     G.   Treatment Of Distributions From Your Plan

     Whenever you receive a distribution from your Plan, it will normally be
     subject to income taxes. You may; however, reduce, or defer entirely, the
     tax due on your distribution through use of one of the following methods:

          1.   The rollover of all or a portion of the distribution to an
          Individual Retirement Account (IRA) or another qualified employer
          plan. This will result in no tax being due until you begin withdrawing
          funds from the IRA or other qualified employer plan.

          2.   You may request for most distributions that a direct transfer of
          all or a portion of your distribution amount be made to either an
          Individual Retirement Account (IRA) or another qualified employer plan
          willing to accept the transfer. If you elect to actually receive the
          distribution rather than request a direct transfer, then in most cases
          20% of the distribution amount will be withheld for federal income tax
          purposes.

IV.  Service Rules

     A.   Year of Service

     You will have completed a Year of Service if, at the end of your first
     twelve consecutive months of employment with your Employer, you have been
     credited with 1000 Hours of Service.

     If you have not been credited with 1000 Hours of Service by the end of your
     first twelve consecutive months of employment, you will have completed a
     Year of Service at the end of any following Plan Year during which you were
     credited with 1000 Hours of Service.

     You will have completed a Year of Service for vesting purposes if you are
     credited with 1000 Hours of Service during a Plan Year, even if you were
     not employed the first or last day of the Plan Year.

V.   Amendment And Termination Of Your Plan

     A.   Amendment

     Your employer has the right to amend your Plan at any time. In no event;
     however, will any amendment authorize or permit any part of the Plan assets
     to be used for purposes other than the exclusive benefit of participants or
     their beneficiaries or cause any reduction in the amount credited to your
     account.
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     B.   Termination

     Your employer has the right to terminate the Plan at any time. Upon
     termination, all amounts credited to your accounts will become 100% vested.
     A complete discontinuance of contributions by your Employer will constitute
     a termination.

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