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Exhibit 10.6    
    

FORM OF EMPLOYMENT AGREEMENT  

        THIS EMPLOYMENT AGREEMENT is dated as of July 15, 2005 and is between Willow Grove Bank, a federally chartered savings bank (the "Bank"), and
                        (the "Executive"). 

WITNESSETH  

        WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of January 20, 2005 (the "Merger Agreement"), between Willow Grove Bancorp, Inc. (the
"Corporation") and Chester Valley Bancorp, Inc., a Pennsylvania corporation ("Chester Valley"), Chester Valley shall, as of the Effective Time (as defined in the Merger Agreement), merge with
and into the Corporation, with the Corporation being the surviving entity (the "Merger"); 

        WHEREAS,
prior to the consummation of the Merger, the Corporation and Chester Valley will respectively cause the Bank and First Financial Bank ("First Financial") to enter into a merger
agreement providing for the merger of First Financial with and into the Bank; 

        WHEREAS,
the Bank (the "Employer") wishes to provide for the employment by the Employer of the Executive as of the Effective Time of the Merger, and the Executive wishes to serve the
Employer as of the Effective Time of the Merger, on the terms and conditions set forth in this Agreement; and 

        WHEREAS,
in order to induce the Executive to remain in the employ of the Employer and in consideration of the Executive's agreeing to remain in the employ of the Employer, the parties
desire to specify the severance benefits which shall be due the Executive by the Employer in the event that his employment with the Employer is terminated under specified circumstances; 

        NOW
THEREFORE, in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby agree as follows: 

        1.    Definitions.    The following words and terms shall have the meanings set forth below for the purposes of this
Agreement: 

        (a)    Average Annual Compensation.    The Executive's "Average Annual Compensation" for purposes of this Agreement
shall be deemed to mean the average amount of Base Salary and cash bonus paid to the Executive by the Employer or any subsidiary thereof during the most recent five calendar years preceding the Date
of Termination (or such shorter period as the Executive was employed). 

        (b)    Base Salary.    "Base Salary" shall have the meaning set forth in Section 3(a) hereof. 

        (c)    Cause.    Termination of the Executive's employment for "Cause" shall mean termination because of personal
dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other
than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. 

        (d)    Change in Control of the Corporation.    "Change in Control of the Corporation" shall mean the occurrence of
any of the following: (i) the acquisition of control of the Corporation as defined in 12 C.F.R. §574.4, unless a presumption of control is successfully rebutted or unless the
transaction is exempted by 12 C.F.R. §574.3(c)(vii), or any successor to such sections; (ii) an event that would be required to be reported in response to Item 5.01 of
Form 8-K or Item 6(e) of Schedule 14A of Regulation 14A pursuant to the Securities Exchange Act of 1934, as amended ("Exchange Act"), or any successor thereto, whether
or not any class of securities of the Corporation is registered under the Exchange Act; (iii) any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes
the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing 20% or more of the combined voting
power of the Corporation's then outstanding securities; or (iv) during any period of three consecutive years, 

 

individuals
who at the beginning of such period constitute the Board of Directors of the Corporation cease for any reason to constitute at least a majority thereof unless the election, or the
nomination for election by stockholders, of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the
period. 

        (e)    Code.    "Code" shall mean the Internal Revenue Code of 1986, as amended. 

        (f)    Date of Termination.    "Date of Termination" shall mean (i) if the Executive's employment is terminated
for Cause or for Disability, the date specified in the Notice of Termination, (ii) if the Executive's employment is terminated due to his death, the date of death, and (iii) if the
Executive's employment is terminated for any other reason, the date on which a Notice of Termination is given or as specified in such Notice. 

        (g)    Disability.    Termination by the Employer of the Executive's employment based on "Disability" shall mean
termination because of any physical or mental impairment which qualifies the Executive for disability benefits under the applicable long-term disability plan maintained by the Employer or
any subsidiary or, if no such plan applies, which would qualify the Executive for disability benefits under the Federal Social Security System. 

        (h)    Effective Date.    The Effective Date of this Agreement shall mean the date on which the Effective Time of the
Merger, as such terms are defined in the Merger Agreement, occurs. 

        (i)    Good Reason.    Termination by the Executive of the Executive's employment for "Good Reason" shall mean
termination by the Executive within twelve (12) months following a Change in Control of the Corporation based on: 

	(i)
	Without
the Executive's express written consent, the failure to elect or to re-elect or to appoint or to re-appoint the Executive to the office
of                        of the Employer or a material adverse change made by the Employer in the Executive's functions, duties
or responsibilities as                        of the Employer;

	(ii)
	Without
the Executive's express written consent, a reduction by the Employer in the Executive's Base Salary as the same may be increased from time to time or, except to
the extent permitted by Section 3(b) hereof, a reduction in the package of fringe benefits provided to the Executive, taken as a whole;

	(iii)
	The
principal executive office of the Employer is relocated by more than 45 miles from the current principal executive office of the Employer or, without the
Executive's express written consent, the Employer requires the Executive to be based anywhere other than an area within 45 miles of the location of the Employer's current principal executive office,
except for required travel on business of the Employer to an extent substantially consistent with the Executive's present business travel obligations;

	(iv)
	Any
purported termination of the Executive's employment by the Bank for Disability which is not effected pursuant to a Notice of Termination satisfying the requirements
of paragraph (k) below; or

	(v)
	The
failure by the Employer to obtain the assumption of and agreement to perform this Agreement by any successor as contemplated in Section 10 hereof. 

        (j)    IRS.    IRS shall mean the Internal Revenue Service. 

        (k)    Notice of Termination.    Any purported termination of the Executive's employment by the Employer for any
reason, including without limitation for Cause, Disability or Retirement, or by the Executive for any reason, including without limitation for Good Reason, shall be communicated by written "Notice of
Termination" to the other party hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a dated notice which (i) indicates the specific termination provision in this 

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Agreement
relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive's employment under the provision so indicated,
(iii) specifies a Date of Termination, which shall be not less than thirty (30) nor more than ninety (90) days after such Notice of Termination is given, except in the case of the
Employer's termination of the Executive's employment for Cause, which shall be effective immediately, and except as set forth in Section 18(a) hereof; and (iv) is given in the manner
specified in Section 11 hereof. 

        (l)    Retirement.    "Retirement" shall mean voluntary termination by the Executive in accordance with the Employer's
retirement policies, including early retirement, generally applicable to their salaried employees. 

        2.    Term of Employment.    

        (a)   The
Employer hereby employs the Executive as                        , and the Executive hereby accepts said employment and agrees to
render such services to the Employer on the
terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate on June 30, 2006. Prior to July 1, 2006 and each
July 1 thereafter, the Board of Directors of the Employer shall consider and review (after taking into account all relevant factors, including the Executive's performance hereunder) a
one-year extension of the term of this Agreement, and the term shall continue to extend each July 1 if the Board of Directors approves such extension unless the Executive gives
written notice to the Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such July 1. If the
Board of Directors of the Employer elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such July 1.
If any party gives timely notice that the term will not be extended as of any July 1, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term
of this Agreement shall refer both to the initial term and successive terms. 

        (b)   During
the term of this Agreement, the Executive shall perform such executive services for the Employer as may be consistent with his titles and from time to time
assigned to him by the Board of Directors of the Employer. During the term of this Agreement, the Executive shall devote his best efforts and his full time effort to the affairs and business of the
Employer. 

        3.    Compensation and Benefits.    

        (a)    Base Salary.    The Employer shall compensate and pay the Executive for his services during the term of this
Agreement at a minimum base salary of $            per year ("Base Salary"), which may be increased from time to time in such amounts as may be determined by the Board of Directors of the
Employer
and may not be decreased without the Executive's express written consent. In addition to his Base Salary, the Executive shall be entitled to receive during the term of this Agreement such bonus
payments as may be determined by the Board of Directors of the Employer. 

        (b)    Benefit Plans.    During the term of this Agreement, the Executive shall be entitled to participate in and
receive the benefits of any pension or other retirement benefit plan, profit sharing, stock option, employee stock ownership, or other plans, benefits and privileges given to employees and executives
of the Employer, to the extent commensurate with his then duties and responsibilities, as fixed by the Board of Directors of the Employer. The Employer shall not make any changes in such plans,
benefits or privileges which would adversely affect the Executive's rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Employer
and does not result in a disproportionately greater adverse change in the rights of or benefits to the Executive as compared with any other executive officer of the Employer. Nothing paid to the
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 the Executive pursuant to Section 3(a) hereof. 

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        (c)    Vacation.    During the term of this Agreement, the Executive shall be entitled to paid annual vacation in
accordance with the policies as established from time to time by the Board of Directors of the Employer. The Executive shall not be entitled to receive any additional compensation from the Employer
for failure to take a vacation, nor shall the Executive be able to accumulate unused vacation time from one year to the next, except to the extent authorized by the Board of Directors of the Employer. 

        4.    Expenses.    The Employer shall reimburse the Executive or otherwise provide for or pay for all reasonable
expenses incurred by the Executive in furtherance of or in connection with the business of the Employer, including, but not by way of limitation, automobile expenses and other traveling expenses,
subject to such reasonable documentation and other limitations as may be established by the Board of Directors of the Employer. If such expenses are paid in the first instance by the Executive, the
Employer shall reimburse the Executive therefor. 

        5.    Termination.    

        (a)    General.    The Employer shall have the right, at any time upon prior Notice of Termination, to terminate the
Executive's employment hereunder for any reason, including without limitation termination for Cause, Disability or Retirement, and the Executive shall have the right, upon prior Notice of Termination,
to terminate his employment hereunder for any reason. 

        (b)    For Cause.    In the event that the Executive's employment is terminated by the Employer for Cause, the
Executive shall have no right pursuant to this Agreement to compensation or other benefits for any period after the applicable Date of Termination. 

        (c)    Voluntary Termination by the Executive.    In the event the Executive terminates his employment hereunder other
than for death, Disability, Retirement, Good Reason or an uncured material breach of this Agreement by the Employer, then the Executive shall have no right pursuant to this Agreement to compensation
or other benefits for any period after the applicable Date of Termination. 

        (d)    Death.    In the event the Executive's employment hereunder is terminated due to death, neither the Executive
nor his estate or named beneficiaries shall have any right pursuant to this Agreement to compensation or other benefits for any period after the Date of Termination. 

        (e)    Disability.    In the event the Executive's employment hereunder is terminated due to Disability, the Executive
shall be entitled to receive any disability benefits provided under any disability plan maintained by the Employer. Other than as set forth above, the Executive shall have no right pursuant to this
Agreement to compensation or other benefits for any period after the Date of Termination. 

        (f)    Retirement.    In the event the Executive's employment hereunder is terminated due to Retirement, the Executive
shall have no right pursuant to this Agreement to compensation or other benefits for any period after the Date of Termination. 

        (g)    Involuntary Termination.    In the event that (i) the Executive's employment is terminated by the
Employer for other than Cause, Disability, Retirement or the Executive's death or (ii) such employment is terminated by the Executive due to a material breach of this Agreement by the Employer,
which breach has not been cured within fifteen (15) days after a written notice of non-compliance has been given by the Executive to the Employer, then the Employer shall pay to the
Executive, within the earlier of thirty (30) days following the Date of Termination or the next following December 31, a cash severance amount equal to one times the Executive's current
Base Salary; provided, however, that this Section 5(g) shall not be applicable if the termination of employment occurs concurrently with or subsequent to a Change in Control of the Corporation. 

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        (h)    Change in Control Termination.    In the event that (i) the Executive's employment is terminated
concurrently with or within twelve (12) months following a Change in Control of the Corporation for other than Cause, Disability, Retirement or the Executive's death or (ii) the
Executive elects to terminate his employment for Good Reason, then the Employer shall, subject to the provisions of Section 6 hereof, if applicable, 

        (A)  pay
to the Executive, within the earlier of thirty (30) days following the Date of Termination or the next following December 31, a cash severance amount
equal to two (2) times the Executive's Average Annual Compensation; and 

        (B)  maintain
and provide for a period ending at the earlier of (i) one year subsequent to the Date of Termination or (ii) the date of the Executive's
full-time employment by another employer (provided that the Executive is entitled under the terms of such employment to benefits substantially similar to those described in this
subparagraph (B)), at no cost to the Executive, the Executive's continued participation in all group insurance, life insurance, health and accident insurance, disability insurance and other employee
benefit plans, programs and arrangements offered by the Employer in which the Executive was entitled to participate immediately prior to the Date of Termination (excluding (y) stock option
plans, restricted stock plans and employee stock ownership plans of the Employer and the Corporation and (z) bonuses and other items of cash compensation), provided that in the event that the
Executive's participation in any plan, program or arrangement as provided in this subparagraph (B) is barred, or during such period any such plan, program or arrangement is discontinued or the
benefits thereunder are materially reduced, the Employer shall either arrange to provide the Executive with benefits substantially similar to those which the Executive was entitled to receive under
such plans, programs and arrangements immediately prior to the Date of Termination or pay a cash equivalency amount. 

        6.    Limitation of Benefits under Certain Circumstances.    If the payments and benefits pursuant to Section 5
hereof, either alone or together with other payments and benefits which the Executive has the right to receive from the Employer, Chester Valley, First Financial and their affiliates, would constitute
a "parachute payment" under Section 280G of the Code, the payments and benefits payable by the Employer pursuant to Section 5 hereof shall be reduced, in the manner determined by the
Executive, by the amount, if any, which is the minimum necessary to result in no portion of the payments and benefits payable by the Employer under Section 5 being non-deductible to
the Employer pursuant to Section 280G of the Code and subject to the excise tax imposed under Section 4999 of the Code. The determination of any reduction in the payments and benefits to
be made pursuant to Section 5 shall be based upon the opinion of independent counsel selected by the Employer and paid by the Employer. Such counsel shall be reasonably acceptable to the
Employer and the Executive; shall promptly prepare the foregoing opinion, but in no event later than thirty (30) days from the Date of Termination; and may use such actuaries as such counsel
deems necessary or advisable for the purpose. Nothing contained herein shall result in a reduction of any payments or benefits to which the Executive may be entitled upon termination of employment
under any circumstances other than as specified in this Section 6, or a reduction in the payments and benefits specified in Section 5 below zero. 

        7.    Mitigation; Exclusivity of Benefits.    

        (a)   The
Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits
be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in
Section 5(h)(B)(ii) hereof. 

        (b)   The
specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with
the Employer pursuant to employee benefit plans of the Employer or otherwise. 

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        8.    Withholding.    All payments required to be made by the Employer hereunder to the Executive shall be subject to
the withholding of such amounts, if any, relating to tax and other payroll deductions as the Employer may reasonably determine should be withheld pursuant to any applicable law or regulation. 

        9.    Competitive Activities    

        (a)   The
Executive agrees and acknowledges that by virtue of his employment hereunder, he will maintain an intimate knowledge of the activities and affairs of the Employer,
including trade secrets, plans, business plans, strategies, projections, market studies, customer information, employee records and other internal proprietary and confidential information and matters
(collectively "Confidential Information"). As a result, and also because of the special, unique and extraordinary services that the Executive is capable of performing for the Employer or one of its
competitors, the Executive recognizes that the services to be rendered by him hereunder are of a character giving them a peculiar value, the loss of which cannot be adequately or reasonably
compensated for by damages. 

        (b)   Except
for the purpose of carrying out his duties hereunder, the Executive will not remove or retain, or make copies or reproductions of, any figures, documents,
records, discs, computer records, calculations, letters, papers, or recorded or documented information of any type or description relating to the business of the Employer. The Executive agrees that he
will not divulge to others any information (whether or not documented or recorded) or data acquired by him while in the Employer's employ relating to methods, processes or other trade secrets or other
Confidential Information. 

        (c)   The
Executive agrees that the Employer is, and shall be, the sole and exclusive owner of all improvements, ideas and suggestions, whether or not subject to patent or
trademark protection, and all copyrightable materials which are conceived by the Executive during his employment, which relate to the business of the Employer, which are confidential, or which are not
readily ascertainable from persons or other sources outside the Employer. 

        (d)   Unless
the Executive's employment is terminated in connection with or following a Change in Control of the Corporation, then for a period of one year after the
termination of employment, the Executive shall not, directly or indirectly, solicit, induce, encourage or attempt to influence any client, customer or employee of the Employer to cease to do business
with, or to terminate any employee's employment with, the Employer. The Executive shall not be subject to any of the limitations set forth
in the preceding sentence if the Executive's employment is terminated in connection with or following a Change in Control of the Corporation. 

        (e)   The
Executive agrees that during the term of his employment hereunder, except with the express consent of the Employer, he will not, directly or indirectly, engage or
participate in, become a director of, or render advisory or other services for, or in connection with, or become interested in, or make any financial investment in any firm, corporation, business
entity or business enterprise competitive with or to any business of the Employer; provided, however, that the Executive shall not thereby be precluded or prohibited from owning passive investments,
including investments in the securities of other financial institutions, so long as such ownership does not require him to devote substantial time to management or control of the business or
activities in which he has invested. Notwithstanding anything to the contrary contained in this Agreement, during the term of this Agreement, the Executive shall have no employment contract or other
written or oral agreement concerning employment as an officer of a savings bank or any other financial institution or financial institution holding company nor with any other entity or person other
than the Bank or the Corporation. The provisions of this Section 9(e) shall not be applicable if the Executive's employment is terminated in connection with or following a Change in Control of
the Corporation. 

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        (f)    The
Employer shall be entitled to immediate injunctive or other equitable relief to restrain the Executive from failing to comply with any obligation under this
Section 9 or from rendering his services to persons or entities than the Employer, in addition to any other remedies to which the Employer may be entitled under law. The right to such
injunctive or other equitable relief shall survive the termination by the Employer of the Executive's employment. 

        (g)   The
Executive acknowledges that the restrictions contained in this Section 9 are reasonable and necessary to protect the legitimate interests of the Employer and
that any violation thereof would result in irreparable injuries to the Employer. The Executive acknowledges that, if the Executive violates any of these restrictions, the Employer is entitled to
obtain from any court of competent jurisdiction, preliminary and permanent injunctive relief as well as damages, and an equitable accounting of any earnings, profits and other benefits arising from
such violation, which rights shall be cumulative and in addition to any other rights or remedies to which the Employer may be entitled. The Executive further acknowledges that the provisions of
Sections 9(a), (b), (c), (f) and (g) shall remain in full force and effect beyond the termination of the Executive's employment for any reason, including but not limited to termination
in connection with or following a Change in Control of the Corporation. 

        10.    Assignability.    The Employer may assign this Agreement and its rights and obligations hereunder in whole, but
not in part, to any corporation, bank or other entity with or into which the Employer may hereafter merge or consolidate or to which the Employer may transfer all or substantially all of its assets,
if in any such case said corporation, bank or other entity shall by operation of law or expressly in writing assume all obligations of the Employer hereunder as fully as if it had been originally made
a
party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or obligations hereunder. 

        11.    Notice.    For the purposes of this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by first-class certified or registered mail, return receipt requested, postage prepaid, addressed to
the respective addresses set forth below: 

	To the Employer:	Secretary

Willow Grove Bank

Welsh & Norristown Roads

Maple Glen, Pennsylvania 19002-8030
	To the Executive:	                        

At his last address on file with

the Employers

        12.    Amendment; Waiver.    (a) Except as set forth in Section 12(b) below, no provisions of this
Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer or officers as may be specifically
designated by the Board of Directors of the Employer to sign on its behalf. No waiver by any party hereto at any time of any breach by any 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. 

        (b)   The
parties hereto acknowledge and agree that (i) the recently enacted American Jobs Creation Act of 2004 established a new Section 409A of the Code;
(ii) Code Section 409A contains provisions governing the taxation of deferred compensation; (iii) the compensation and other benefits to be paid or otherwise provided under this
Agreement, whether provided hereunder or pursuant to any of the Employer's employee benefit plans, programs, policies or arrangements (this Agreement and the plans, programs, policies and arrangements
are collectively referred to herein 

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as
the "Agreements"), may be negatively impacted by Section 409A of the Code; (iv) the Internal Revenue Service has issued initial guidance and is expected to issue additional guidance
regarding the scope of Section 409A of the Code; and (v) the Employer has until December 31, 2005 to amend the Agreements to bring them into compliance with Section 409A of
the Code. The parties hereto acknowledge and agree that the Employer may amend any or all of the Agreements after the date hereof in order to comply with Section 409A of the Code, without
having to obtain the Executive's consent to such amendments, provided that the Employer agrees to negotiate in good faith with the Executive any changes to this Agreement 

        13.    Governing Law.    The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the United States where applicable and otherwise by the substantive laws of the Commonwealth of Pennsylvania. 

        14.    Nature of Obligations.    Nothing contained herein shall create or require the Employer to create a trust of
any kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Employer hereunder, such right shall be no greater than
the right of any unsecured general creditor of the Employer. 

        15.    Headings.    The section headings contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement. 

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

        17.    Counterparts.    This Agreement may be executed in one or more counterparts, each of which shall be deemed to
be an original but all of which together will constitute one and the same instrument. 

        18.    Regulatory Actions.    The following provisions shall be applicable to the parties to the extent that they are
required to be included in employment agreements between a savings association and its employees pursuant to Section 563.39(b) of the Regulations Applicable to All Savings Associations, 12
C.F.R.
§563.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof. 

        (a)   The
Bank's Board of Directors may terminate the Executive's employment at any time, but any termination by the Bank's Board of Directors, other than termination for
Cause, shall not prejudice the Executive's right to compensation or other benefits under this Agreement. 

        (b)   If
the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer's affairs by a notice served under
Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act ("FDIA") (12 U.S.C. §1818(e)(3) and 1818(g)(1)), the Employer's obligations under this Agreement shall
be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may, in its discretion: (i) pay the Executive all or
part of the compensation withheld while its obligations under this Agreement were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. 

        (c)   If
the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Employer's affairs by an order issued under
Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. §1818(e)(4) and (g)(1)), all obligations of the Employer under this Agreement shall terminate as of the effective
date of the order, but vested rights of the Executive and the Employer as of the date of termination shall not be affected. 

        (d)   If
the Bank is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1)), all obligations under this Agreement shall terminate as
of the date of default, but 

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vested
rights of the Executive and the Employer as of the date of termination shall not be affected. 

        (e)   All
obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5) (except to the extent that it is determined that continuation of
the Agreement for the continued operation of the Employer is necessary): (i) by the Director of the Office of Thrift Supervision ("OTS"), or his/her designee, at the time the Federal Deposit
Insurance Corporation ("FDIC") enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA (12 U.S.C.
§1823(c)); or (ii) by the Director of the OTS, or his/her designee, at the time the Director or his/her designee approves a supervisory merger to resolve problems related to
operation of the Bank or when the Bank is determined by the Director of the OTS to be in an unsafe or unsound condition, but vested rights of the Executive and the Employer as of the date of
termination shall not be affected. 

        19.    Regulatory Prohibition.    Notwithstanding any other provision of this Agreement to the contrary, any payments
made to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and the
regulations promulgated thereunder, including 12 C.F.R. Part 359. In the event of the Executive's termination of employment with the Bank for Cause, all employment relationships and managerial
duties with the Bank shall immediately cease regardless of whether the Executive remains in the employ of the Corporation following such termination. Furthermore, following such termination for Cause,
the Executive will not, directly or indirectly, influence or participate in the affairs or the operations of the Bank. 

        20.    Payment of Costs and Legal Fees and Reinstatement of Benefits.    In the event any dispute or controversy
arising under or in connection with the Executive's termination is resolved in favor of the Executive, whether by judgment, arbitration or settlement, the Executive shall be entitled to the payment of
(a) all legal fees incurred by the Executive in resolving such dispute or controversy, and (b) any back-pay, including Base Salary, bonuses and any other cash compensation,
fringe benefits and any compensation and benefits due to the Executive under this Agreement. 

        21.    Entire Agreement.    This Agreement embodies the entire agreement between the Employer and the Executive with
respect to the matters agreed to herein. All prior agreements between the Employer and the Executive with respect to the matters agreed to herein are hereby superseded and shall have no force or
effect, including the agreement between the parties dated January 20, 2005. Without limiting the generality of the preceding sentence, the parties hereto agree that, immediately prior to the
Effective Date, the Agreement dated June 30, 2003 between Chester Valley, First Financial and the Executive (the "Old Agreement") shall be cancelled and shall have no force and effect, and the
Executive agrees that he shall not be entitled to and shall not receive any payments or benefits pursuant to the Old Agreement as a result of the transactions contemplated by the Merger Agreement. 

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        IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written. 

	Attest:	 	WILLOW GROVE BANK
	

 Christopher E. Bell

Senior Vice President	
 	

By:	

 Frederick A. Marcell Jr.

President and Chief Executive Officer
	

 	
 	
EXECUTIVE
	

 	
 	

By:	

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Exhibit 10.7    
    

FORM OF CHANGE IN CONTROL SEVERANCE AGREEMENT BETWEEN

WILLOW GROVE BANK AND                         

        THIS CHANGE IN CONTROL SEVERANCE AGREEMENT is dated as of July 15, 2005 and is between Willow Grove Bank, a federally chartered savings bank (the "Bank" or
the "Employer"), and                        (the "Officer"). 

WITNESSETH  

        WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of January 20, 2005 (the "Merger Agreement"), between Willow Grove Bancorp, Inc. (the
"Corporation") and Chester Valley Bancorp, Inc., a Pennsylvania corporation ("Chester Valley"), Chester Valley shall, as of the Effective Time (as defined in the Merger Agreement), merge with
and into the Corporation, with the Corporation being the surviving entity (the "Merger"); 

        WHEREAS,
prior to the consummation of the Merger, the Corporation and Chester Valley will respectively cause the Bank and First Financial Bank ("First Financial") to enter into a merger
agreement providing for the merger of First Financial with and into the Bank; and 

        WHEREAS,
in order to induce the Officer to remain in the employ of the Employer and in consideration of the Officer's agreeing to remain in the employ of the Employer, the parties desire
to specify the severance benefits which shall be due the Officer by the Employer in the event that her employment with the Employer is terminated under specified circumstances; 

        NOW
THEREFORE, in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby agree as follows: 

        1.    Definitions.    The following words and terms shall have the meanings set forth below for the purposes of this
Agreement: 

        (a)    Average Annual Compensation.    The Officer's "Average Annual Compensation" for purposes of this Agreement
shall be deemed to mean the average amount of Base Salary and cash bonus paid to the Officer by the Employer or any subsidiary thereof during the most recent five calendar years preceding the Date of
Termination (or such shorter period as the Officer was employed). 

        (b)    Cause.    Termination of the Officer's employment for "Cause" shall mean termination because of personal
dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other
than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. 

        (c)    Change in Control of the Corporation.    "Change in Control of the Corporation" shall mean the occurrence of
any of the following: (i) the acquisition of control of the Corporation as defined in 12 C.F.R. §574.4, unless a presumption of control is successfully rebutted or unless the
transaction is exempted by 12 C.F.R. §574.3(c)(vii), or any successor to such sections; (ii) an event that would be required to be reported in response to Item 5.01 of
Form 8-K or Item 6(e) of Schedule 14A of Regulation 14A pursuant to the Securities Exchange Act of 1934, as amended ("Exchange Act"), or any successor thereto, whether
or not any class of securities of the Corporation is registered under the Exchange Act; (iii) any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes
the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing 20% or more of the combined voting
power of the Corporation's then outstanding securities; or (iv) during any period of three consecutive years, individuals who at the beginning of such period constitute the Board of Directors
of the Corporation cease for any reason to constitute at least a majority thereof unless the election, or the nomination for election by stockholders, of each new director was approved by a vote of at
least two-thirds of the directors then still in office who were directors at the beginning of the period. 

 

        (d)    Code.    "Code" shall mean the Internal Revenue Code of 1986, as amended. 

        (e)    Date of Termination.    "Date of Termination" shall mean (i) if the Officer's employment is terminated
for Cause or for Disability, the date specified in the Notice of Termination, (ii) if the Officer's employment is terminated due to her death, the date of death, and (iii) if the
Officer's employment is terminated for any other reason, the date on which a Notice of Termination is given or as specified in such Notice. 

        (f)    Disability.    Termination by the Employer of the Officer's employment based on "Disability" shall mean
termination because of any physical or mental impairment which qualifies the Officer for disability benefits under the applicable long-term disability plan maintained by the Employer or
any subsidiary or, if no such plan applies, which would qualify the Officer for disability benefits under the Federal Social Security System. 

        (g)    Effective Date.    The Effective Date of this Agreement shall mean the date on which the Effective Time of the
Merger, as such terms are defined in the Merger Agreement, occurs. 

        (h)    Good Reason.    Termination by the Officer of the Officer's employment for "Good Reason" shall mean termination
by the Officer within twelve (12) months following a Change in Control of the Corporation based on: 

	(i)
	Without
the Officer's express written consent, the assignment by the Employer to the Officer of any duties which are materially inconsistent with the Officer's
positions, duties, responsibilities and status with the Employer immediately prior to a Change in Control of the Corporation, or a material change in the Officer's reporting responsibilities, titles
or offices as an employee and as in effect immediately prior to such a Change in Control of the Corporation, or any removal of the Officer from or any failure to re-elect the Officer to
any of such responsibilities, titles or offices, except in connection with the termination of the Officer's employment for Cause, Disability or Retirement or as a result of the Officer's death or by
the Officer other than for Good Reason;

	(ii)
	Without
the Officer's express written consent, a reduction by the Employer in the Officer's base salary as in effect immediately prior to the date of the Change in
Control of the Corporation or as the same may be increased from time to time thereafter or a material reduction in the package of fringe benefits provided to the Officer;

	(iii)
	The
principal executive office of the Employer is relocated by more than 45 miles from the current principal executive office of the Employer or, without the Officer's
express written consent, the Employer requires the Officer to be based anywhere other than an area within 45 miles of the location of the Employer's current principal executive office, except for
required travel on business of the Employer to an extent substantially consistent with the Officer's present business travel obligations;

	(iv)
	Any
purported termination by the Employer of the Officer's employment for Disability which is not effected pursuant to a Notice of Termination satisfying the
requirements of paragraph (j) below; or

	(v)
	The
failure by the Employer to obtain the assumption of and agreement to perform this Agreement by any successor as contemplated in Section 7 hereof. 

        (i)    IRS.    IRS shall mean the Internal Revenue Service. 

        (j)    Notice of Termination.    Any purported termination of the Officer's employment by the Employer for any reason,
including without limitation for Cause, Disability or Retirement, or by the Officer for any reason, including without limitation for Good Reason, shall be communicated by written "Notice of
Termination" to the other party hereto. For purposes of this Agreement, a "Notice of 

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Termination"
shall mean a dated notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of Officer's employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be not less than thirty
(30) nor more than ninety (90) days after such Notice of Termination is given, except in the case of the Employer's termination of the Officer's employment for Cause, which shall be
effective immediately, and except as set forth in Section 16(a) hereof; and (iv) is given in the manner specified in Section 8 hereof. 

        (k)    Retirement.    "Retirement" shall mean voluntary termination by the Officer in accordance with the Employer's
retirement policies, including early retirement, generally applicable to their salaried employees. 

        2.    Benefits Upon Termination.    

        (a)    General.    The Employer shall have the right, at any time upon prior Notice of Termination, to terminate the
Officer's employment hereunder for any reason, including without limitation termination for Cause, Disability or Retirement, and the Officer shall have the right, upon prior Notice of Termination, to
terminate her employment hereunder for any reason. 

        (b)    Non Change in Control Termination.    In the event that (i) the Officer's employment is terminated due
to Cause, Death, Disability, Retirement, or any other reason unrelated to a Change in Control of the Corporation, or (ii) the officer elects to terminate her employment for other than Good
Reason, then the Officer shall have no right pursuant to this Agreement to compensation or other benefits for any period after the applicable Date of Termination. 

        (c)    Change in Control Termination.    In the event that (i) the Officer's employment is terminated
concurrently with or within twelve (12) months following a Change in Control of the Corporation for other than Cause, Disability, Retirement or the Officer's death, or (ii) the Officer
elects to terminate her employment for Good Reason, then the Employer shall, subject to the provisions of Sections 3 and 4 hereof, if applicable, 

        (A)  pay
to the Officer, in twelve (12) equal monthly installments commencing with the first business day of the month immediately following the Date of Termination, a
cash severance amount equal to one (1) times the Officer's Average Annual Compensation; and 

        (B)  maintain
and provide for a period ending at the earlier of (i) one year subsequent to the Date of Termination or (ii) the date of the Officer's
full-time employment by another employer (provided that the Officer is entitled under the terms of such employment to benefits substantially similar to those described in this subparagraph
(B)), at no cost to the Officer, the Officer's continued participation in all group insurance, life insurance, health and accident insurance and disability insurance in which the Officer was
participating in immediately prior to the Date of Termination, provided that in the event that the Officer's participation in any such insurance plan as provided in this subparagraph (B) is
barred, or during such period any such plan is discontinued or the benefits thereunder are materially reduced, the Employer shall either arrange to provide the Officer with benefits substantially
similar to those which the Officer was entitled to receive under such plans immediately prior to the Date of Termination or pay a cash equivalency amount. 

        3.    Limitation of Benefits under Certain Circumstances.    If the payments and benefits pursuant to Section 2
hereof, either alone or together with other payments and benefits which the Officer has the right to receive from the Employer, Chester Valley, First Financial and their affiliates, would constitute a
"parachute payment" under Section 280G of the Code, the payments and benefits payable by the Employer pursuant to Section 2 hereof shall be reduced, in the manner determined by the
Officer, by the amount, if any, which is the minimum necessary to result in no portion of the payments and benefits payable by the Employer under Section 2 being non-deductible to
the Employer pursuant to Section 280G of the Code and subject to the excise tax imposed under Section 4999 of the Code. 

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The
determination of any reduction in the payments and benefits to be made pursuant to Section 2 shall be based upon the opinion of independent counsel selected by the Employer and paid by the
Employer. Such counsel shall be reasonably acceptable to the Employer and the Officer; shall promptly prepare the foregoing opinion, but in no event later than thirty (30) days from the Date of
Termination; and may use such actuaries as such counsel deems necessary or advisable for the purpose. Nothing contained herein shall result in a reduction of any payments or benefits to which the
Officer may be entitled upon termination of employment under any circumstances other than as specified in this Section 3, or a reduction in the payments and benefits specified in
Section 2 below zero. 

        4.    Mitigation; Exclusivity of Benefits.    

        (a)   The
Officer shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise. However, the amount of severance
compensation payable by the Employer under Section 2(c)(A) shall be reduced to the extent the Officer earns compensation from any source for services rendered by the Officer within one year
following the Date of Termination. 

        (b)   The
specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Officer upon a termination of employment with
the Employer pursuant to employee benefit plans of the Employer or otherwise. 

        5.    Withholding.    All payments required to be made by the Employer hereunder to the Officer shall be subject to
the withholding of such amounts, if any, relating to tax and other payroll deductions as the Employer may reasonably determine should be withheld pursuant to any applicable law or regulation. 

        6.    Competitive Activities    

        (a)   The
Officer agrees and acknowledges that by virtue of her employment hereunder, she will maintain an intimate knowledge of the activities and affairs of the Employer,
including trade secrets, plans, business plans, strategies, projections, market studies, customer information, employee records and other internal proprietary and confidential information and matters
(collectively "Confidential Information"). As a result, and also because of the special, unique and extraordinary services that the Officer is capable of performing for the Employer or one of its
competitors, the Officer recognizes that the services to be rendered by her hereunder are of a character giving them a peculiar value, the loss of which cannot be adequately or reasonably compensated
for by damages. 

        (b)   Except
for the purpose of carrying out her duties hereunder, the Officer will not remove or retain, or make copies or reproductions of, any figures, documents, records,
discs, computer records, calculations, letters, papers, or recorded or documented information of any type or description relating to the business of the Employer. The Officer agrees that she will not
divulge to others any information (whether or not documented or recorded) or data acquired by her while in the Employer's employ relating to methods, processes or other trade secrets or other
Confidential Information. 

        (c)   The
Officer agrees that the Employer is, and shall be, the sole and exclusive owner of all improvements, ideas and suggestions, whether or not subject to patent or
trademark protection, and all copyrightable materials which are conceived by the Officer during her employment, which relate to the business of the Employer, which are confidential, or which are not
readily ascertainable from persons or other sources outside the Employer. 

        (d)   Unless
the Officer's employment is terminated in connection with or following a Change in Control of the Corporation, then for a period of one year after the termination
of employment, the Officer shall not, directly or indirectly, solicit, induce, encourage or attempt to influence any client, customer or employee of the Employer to cease to do business with, or to
terminate any employee's employment with, the Employer. 

        (e)   The
Employer shall be entitled to immediate injunctive or other equitable relief to restrain the Officer from failing to comply with any obligation under this
Section 6, in addition to any other 

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remedies
to which the Employer may be entitled under law. The right to such injunctive or other equitable relief shall survive the termination by the Employer of the Officer's employment. 

        (f)    The
Officer acknowledges that the restrictions contained in this Section 6 are reasonable and necessary to protect the legitimate interests of the Employer and
that any violation thereof would result in irreparable injuries to the Employer. The Officer acknowledges that, if the Officer violates any of these restrictions, the Employer is entitled to obtain
from any court of competent jurisdiction, preliminary and permanent injunctive relief as well as damages, and an equitable accounting of any earnings, profits and other benefits arising from such
violation, which rights shall be cumulative and in addition to any other rights or remedies to which the Employer may be entitled. The Officer further acknowledges that the provisions of Sections
6(a), (b), (c), (e) and (f) shall remain in full force and effect beyond the termination of the Officer's employment for any reason, including but not limited to termination in
connection with or following a Change in Control of the Corporation. 

        7.    Assignability.    The Employer may assign this Agreement and its rights and obligations hereunder in whole, but
not in part, to any corporation, bank or other entity with or into which the Employer may hereafter merge or consolidate or to which the Employer may transfer all or substantially all of its assets,
if in any such case said corporation, bank or other entity shall by operation of law or expressly in writing assume all obligations of the Employer hereunder as fully as if it had been originally made
a party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Officer may not assign or transfer this Agreement or any rights or obligations hereunder. 

        8.    Notice.    For the purposes of this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by first-class certified or registered mail, return receipt requested, postage prepaid, addressed to
the respective addresses set forth below: 

	To the Employer:	Secretary

Willow Grove Bank

Welsh & Norristown Roads

Maple Glen, Pennsylvania 19002-8030
	

To the Officer:	

                                         
       

At            last address on file with

the Employers

        9.    Amendment; Waiver.    

        (a)   Except
as set forth in Section 9(b), no provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed
to in writing and signed by the Officer and such officer or officers as may be specifically designated by the Board of Directors of the Employer to sign on its behalf. No waiver by any party hereto at
any time of any breach by any 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. 

        (b)   The
parties hereto acknowledge and agree that (i) the recently enacted American Jobs Creation Act of 2004 established a new Section 409A of the Code;
(ii) Code Section 409A contains provisions governing the taxation of deferred compensation; (iii) the compensation and other benefits to be paid or otherwise provided under this
Agreement, whether provided hereunder or pursuant to any of the Employer's employee benefit plans, programs, policies or arrangements (this Agreement and the plans, programs, policies and arrangements
are collectively referred to herein as the "Agreements"), may be negatively impacted by Section 409A of the Code; (iv) the Internal Revenue Service has issued initial guidance and is
expected to issue additional guidance regarding the scope of Section 409A of the 

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Code;
and (v) the Employer has until December 31, 2005 to amend the Agreements to bring them into compliance with Section 409A of the Code. The parties hereto acknowledge and
agree that the Employer may amend any or all of the Agreements after the date hereof in order to comply with Section 409A of the Code, without having to obtain the Executive's consent to such
amendments, provided that the Employer agrees to negotiate in good faith with the Officer any changes to this Agreement. 

        10.    Governing Law.    The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the United States where applicable and otherwise by the substantive laws of the Commonwealth of Pennsylvania. 

        11.    Nature of Employment and Obligations.    

        (a)   Nothing
contained herein shall be deemed to create other than a terminable at will employment relationship between the Employer and the Officer, and the Employer may
terminate the Officer's employment at any time, subject to providing any payments specified herein in accordance with the terms hereof. 

        (b)   Nothing
contained herein shall create or require the Employer to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that
the Officer acquires a right to receive benefits from the Employer hereunder, such right shall be no greater than the right of any unsecured general creditor of the Employer. 

        12.    Term of Agreement.    The term of this Agreement shall run from the Effective Date through and including
June 30, 2006. Prior to July 1, 2006 and each July 1 thereafter, this Agreement shall extend for an additional year until such time as the Board of Directors of the Employer or
the Officer gives notice in accordance with the terms of Section 8 hereof of its or her election, respectively, not to extend the terms of this Agreement. Such written notice of the election
not to extend must be given not less than thirty (30) days prior to any such July 1. If any party gives timely notice that the term will not be extended as of any July 1, then
this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms. 

        13.    Headings.    The section headings contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement. 

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

        15.    Counterparts.    This Agreement may be executed in one or more counterparts, each of which shall be deemed to
be an original but all of which together will constitute one and the same instrument. 

        16.    Regulatory Actions.    The following provisions shall be applicable to the parties to the extent that they are
required to be included in agreements between a savings association and its employees pursuant to Section 563.39(b) of the Regulations Applicable to All Savings Associations, 12 C.F.R.
§563.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 2 hereof. 

        (a)   The
Bank's Board of Directors may terminate the Officer's employment at any time, but any termination by the Bank's Board of Directors, other than termination for Cause,
shall not prejudice the Officer's right to compensation or other benefits under this Agreement. 

        (b)   If
the Officer is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer's affairs by a notice served under
Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act ("FDIA") (12 U.S.C. §1818(e)(3) and 1818(g)(1)), the Employer's 

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obligations
under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may, in its
discretion: (i) pay the Officer all or part of the compensation withheld while its obligations under this Agreement were suspended, and (ii) reinstate (in whole or in part) any of its
obligations which were suspended. 

        (c)   If
the Officer is removed from office and/or permanently prohibited from participating in the conduct of the Employer's affairs by an order issued under
Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. §1818(e)(4) and (g)(1)), all obligations of the Employer under this Agreement shall terminate as of the effective
date of the order, but vested rights of the Officer and the Employer as of the date of termination shall not be affected. 

        (d)   If
the Bank is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1)), all obligations under this Agreement shall terminate as
of the date of default, but vested rights of the Officer and the Employer as of the date of termination shall not be affected. 

        (e)   All
obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5) (except to the extent that it is determined that continuation of
the Agreement for the continued operation of the Employer is necessary): (i) by the Director of the Office of Thrift Supervision ("OTS"), or his/her designee, at the time the Federal Deposit
Insurance Corporation ("FDIC") enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA (12 U.S.C.
§1823(c)); or (ii) by the Director of the OTS, or his/her designee, at the time the Director or his/her designee approves a supervisory merger to resolve problems related to
operation of the Bank or when the Bank is determined by the Director of the OTS to be in an unsafe or unsound condition, but vested rights of the Officer and the Employer as of the date of termination
shall not be affected. 

        17.    Regulatory Prohibition.    Notwithstanding any other provision of this Agreement to the contrary, any payments
made to the Officer pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and the
regulations promulgated thereunder, including 12 C.F.R. Part 359. In the event of the Officer's termination of employment with the Bank for Cause, all employment relationships and managerial
duties with the Bank shall immediately cease regardless of whether the Officer remains in the employ of the Corporation following such termination. Furthermore, following such termination for Cause,
the Officer will not, directly or indirectly, influence or participate in the affairs or the operations of the Bank. 

        18.    Entire Agreement.    This Agreement embodies the entire agreement between the Employer and the Officer with
respect to the matters agreed to herein. All prior agreements between the Employer and the Officer with respect to the matters agreed to herein are hereby superseded and shall have no force or effect,
including the agreement dated January 24, 2005. Without limiting the generality of the preceding sentence, the parties hereto agree that,
immediately prior to the Effective Date, the Agreement dated June 26, 2003 between Chester Valley, First Financial and the Officer (the "Old
Agreement") shall be cancelled and shall have no force and effect, and the Officer agrees that she shall not be entitled to and shall not receive any payments or benefits pursuant to the Old Agreement
as a result of the transactions contemplated by the Merger Agreement. 

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        IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written. 

	Attest:	 	WILLOW GROVE BANK
	

 Christopher E. Bell

Senior Vice President	
 	

By:	

 Frederick A. Marcell Jr.

President and Chief Executive Officer
	

 	
 	
OFFICER
	

 	
 	

By:	

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Exhibit 10.7

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