Document:

Unassociated Document

    Exhibit
      10t

    

    November
      10, 2006

    

    Mr.
      Albert J. Melfi, Jr.

    [Address]

    

    Via
      Email

    

    Dear
      Al:

    

    This
      letter confirms our offer to employ you as Executive Vice President, reporting
      directly to William J. Hieb, President and COO. We anticipate a start date
      no
      later than December 4, 2006, or sooner if you are available.

    

    A
      summary
      of the key terms and conditions of our offer appear below:

    

    1.
      A
      twice-monthly salary of $8,125.00 paid through direct deposit to your employee
      checking/savings account on the 15th and 30th of each month.

    

    2.
      At
      your discretion, you will receive either i)$20,000.00 signing bonus which will
      be paid in the first pay period after your start date or ii)1000 shares of
      restricted stock with a 1-year vesting period to be awarded on or about December
      31,2006.

    

    3.
      Upon
      completion of a 90-day initial employment period, you will be eligible to
      receive 20 vacation days, 5 sick days and 2 personal days based upon Bank
      policy.

    

    4.
      You
      will receive a car allowance of $900 per month, to be reconciled quarterly
      to
      actual expenses.

    

    5.
      You
      will be eligible for participation in all compensation and employee benefit
      plans, including life insurance at the allowable maximum, medical insurance
      for
      you and your eligible dependents, and all other benefits and perquisites
      maintained by the Bank for officers, including stock options and incentive
      compensation. You will be eligible for participation in the medical and life
      insurance plans 3 months from your date of hire. You will receive a minimum
      $15,000 guaranteed bonus for year 2007 payable in accordance with normal plan
      distribution rules.

    

    6.
      So
      long as you are employed by the Bank, the Bank agrees to cover the cost of
      your
      COBRA payments, less the amount that you would contribute for the same plan
      here
      at DNB, to your previous employer's insurance provider until you become eligible
      to participate in the Bank's health insurance program. Please submit the bills
      to Tracy Panati, Human Resource Manager for payment. 

    

    7.
      You
      will also be covered under a Change in Control Agreement, which provides for
      18
      months of severance pay which includes base, bonus and benefits should the
      Bank
      experience a change of control.

    

    8.
      The
      Bank has a country club membership which you will be eligible to use for
      reasonable business entertainment purposes.

    

    9.
      Ongoing professional training and development is available.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        

      

    

     

    

    As
      required by bank policy, employment is contingent upon a credit and OFAC report
      acceptable to DNB First, N.A., in its sole discretion. Pursuant to the Fair
      and
      Accurate Credit Transactions (FACT) Act, we will forward you the information
      regarding your credit score disclosure.

    

    In
      compliance with the Immigration and Control Act of 1986, all new employees
      must
      provide documentation proving employment authorization and identity within
      three
      (3) working days of your start date. The enclosed notice reviews the required
      documentation that will be required for you to provide to the Bank. Failure
      to
      provide employment authorization may mean termination or cancellation of the
      offer of employment.

    

    Please
      acknowledge your acceptance by signing one copy of this letter and returning
      it
      to my attention by November 17, 2006.

    

    On
      behalf
      of the Bank, our Board of Directors, and our Executive Management team, I am
      absolutely delighted that you are joining our team to help us meet our vision
      for the future. If you have any questions, or require additional information,
      please contact either myself at 484-359-3166 or Bill Hieb at
      484-359-3012.

    

    Sincerely,

     

    /s/
      William S. Latoff  

    William
      S. Latoff 

    Chairman
      and CEO

    

    Enclosure

    

    cc:
      Tracy
      Panati

     

    
      	
              Accepted
                by:   /s/
                Albert J. Melfi, Jr.

            	
              Date:  
                11/14/2006

            
	
                      Albert
                J. Melfi, Jr.

            	
               

            

    

    

     

    
      
        

      

    

     

    Notice
      to Newly Hired Employees 

    The
      Immigration Reform and Control Act of 1986

    

    The
      Immigration Reform and Control Act of 1986 makes it unlawful for employers
      to
      knowingly hire aliens not authorized to work in the United States. Employers
      must verify that every individual hired is not an unauthorized
      alien.

    

    To
      comply
      with this law, you must take the following steps: Within three (3) working
      days
      of your start date, you will be required to complete INS Form 1-9. You must
      provide the documents proving your employment authorization and identity.
      Failure to provide employment authorization or identity may mean termination
      or
      cancellation of the offer of employment. The documents that INS will accept
      to
      establish identity and employment eligibility are listed below.

     

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.
      Only
      one document from the following list is needed for establishing both identity
      and employment eligibility:

    

    ·
U.S.
      Passport 

    ·
      Certificate of U.S. Citizenship 

    ·
      Certificate of Naturalization

    ·
      Unexpired foreign passport with attached employment authorization 

    ·
Alien
      Registration Card with photograph 

    ·
      Unexpired Temporary Resident Card 

    ·
      Unexpired Employment Authorization Card 

    ·
      Unexpired Reentry Permit 

    ·
      Unexpired Refugee Travel document 

    ·
      Unexpired Employment Authorization document issued by the INS which contains
      a
      photograph

    

    If
      you do not have any of the above documents you will need to provide one document
      from each of the following categories:

    

    2.
      Documents acceptable for establishing eligibility for employment:

    

    ·
      Non-laminated Social Security Number Card (Providing it is not stamped "not
      valid for employment purposes") 

    ·
      Original or certified copy of a birth certificate issued by a state, county,
      or
      municipal authority bearing an official seal 

    ·
      Unexpired INS employment authorization 

    ·
      Certification of Birth Abroad issued by the U.S. Department of State

    ·
U.S.
      Citizen ID Card 

    ·
Native
      American tribal document 

    ·
ID
      Card
      for use of Resident Citizen in the U.S.

    

    PLUS

    

    3.
      Documents acceptable for establishing identity:

    

    ·
      State-issued driver's license or ID Card containing a photograph 

    ·
School
      ID Card with photograph 

    ·
Voter
      registration card 

    ·
U.S.
      military card or draft record 

    ·
ID
      Card
      issued by Federal, State, or local government agencies or entities containing
      a
      photograph 

    ·
      Military dependent ID Card 

    ·
Native
      American tribal documents 

    ·
      Driver's license issued by a Canadian Government authority 

    ·
U.S.
      Coast Guard Merchant Mariner Card

    

    Persons
      under age 16 who are unable to produce any of the documents found in group
      3,
      may present any of the following to establish identity:

    

    ·
School
      record or report card 

    ·
Clinic,
      doctor or hospital record 

    ·
      Day-care or nursery school recordUnassociated Document

    Exhibit
      10u

     

    [DNB
      Letterhead]

    
 

    December
      20, 2006

    

    

    Mr.
      Gerald F. Sopp

    [Address]

    

    

    Dear
      Gerald:

     

    This
      letter confirms our offer to employ you as Executive Vice President, Chief
      Financial Officer of DNB Financial Corporation reporting directly to the
      Chairman and CEO as well as the President and Chief Operating Officer. We
      anticipate a start date of January 2, 2007.

    

    A
      summary
      of the key terms and conditions of our offer appear below:

    

    
      	
               

            	
              1.
                

            	
              A
                twice-monthly salary of $6,250.00 paid through direct deposit to
                your
                employee checking/savings account on the 15th and 30th of each
                month.

            

    

    

    
      	
               

            	
              2.
                

            	
              Upon
                completion of a 90-day initial employment period, you will be eligible
                to
                receive 20 vacation days, 5 sick days and 2 personal days based upon
                Bank
                policy.

            

    

    

    
      	
               

            	
              3.
                

            	
              You
                will be eligible for participation in all compensation and employee
                benefit plans, including life insurance at the allowable maximum,
                medical
                insurance for you and your eligible dependents, and all other benefits
                and
                perquisites maintained by the Bank for officers, including stock
                options
                and incentive compensation. You will be eligible for participation
                in the
                medical and life insurance plans 3 months from your date of hire.
                You will
                receive a minimum $10,000 guaranteed bonus for year 2007 payable
                in
                accordance with normal plan distribution
                rules.

            

    

    

    
      	
               

            	
              4.
                

            	
              So
                long as you are employed by the Bank, the Bank agrees to cover the
                cost of
                your COBRA payments, less the amount that you would contribute for
                the
                same plan here at DNB, to your previous employer's insurance provider
                until you become eligible to participate in the Bank's health insurance
                program. Please submit the bills to Tracy Panati, Human Resource
                Manager
                for payment. 

            

    

    

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Mr.
      Gerald F. Sopp

    December
      20, 2006

    Page
      2

    

    

    

    As
      required by bank policy, employment is contingent upon a credit and OFAC report
      acceptable to DNB First, N.A., in its sole discretion. Pursuant to the Fair
      and
      Accurate Credit Transactions (FACT) Act, we will forward you the information
      regarding your credit score disclosure.

    

    In
      compliance with the Immigration and Control Act of J 986, all new employees
      must
      provide documentation proving employment authorization and identity within
      three
      (3) working days of your start date. The enclosed notice reviews the required
      documentation that will be required for you to provide to the Bank. Failure
      to
      provide employment authorization may mean termination or cancellation of the
      offer of employment.

    

    Please
      acknowledge your acceptance by signing one copy of this letter and returning
      it
      to my attention by December 27, 2006.

    

    On
      behalf
      of the Bank, our Board of Directors and our Executive Management team, I am
      absolutely delighted that you are joining our team to help us meet our vision
      for the future. If you have any questions, or require additional information,
      please contact either myself at 484-359-3166 or Bill Hieb at
      484-359-3012.

    

    Sincerely,

    

    /s/
      William S. Latoff

    

    William
      S. Latoff Chairman and CEO

    

    Enclosure

    

    cc:
      Tracy
      Panati

    

    [Missing
      Graphic Reference]

    

    
      	
              Accepted
                by:    /s/
                Gerald F. Sopp

            	
              Date: 12/26/06

            
	
                               
                Gerald F. Sopp

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]