Document:

EX-10.2

 Exhibit 10.2 

Execution Version 

EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) made as of October 23, 2018, by and among Orrstown Financial Services, Inc., a
Pennsylvania corporation (“Orrstown”), Orrstown Bank, a bank and trust company organized under the Pennsylvania Banking Code of 1965 and a wholly owned subsidiary of Orrstown (the “Bank”) (Orrstown and the Bank are
hereinafter collectively referred to as the “Employer”) and Ellen Fish, an adult individual (the “Executive”). This Agreement is being executed in connection with the Agreement and Plan of Merger by and between
Orrstown Financial Services, Inc. and Hamilton Bancorp, Inc. dated October 23, 2018, (the “Merger Agreement”). The date on which the Effective Time (as defined by Section 1.2 of the Merger Agreement) of the transactions
contemplated by the Merger Agreement occurs shall be the effective date of this Agreement (the “Effective Date”). The Employer and Executive are also entering into a Change in Control Agreement (the “Change in Control
Agreement”), to be effective on the first anniversary of the Effective Date, to provide certain rights and benefits to Executive in the event of a change of control of Orrstown. 

BACKGROUND 
 Executive is
currently party to change in control agreement with Hamilton Bank (the “Hamilton CIC Agreement”). Following the Closing, the Employer desires to retain the service of Executive and to enter into this comprehensive Agreement with
Executive, which supersedes the Hamilton CIC Agreement (except as otherwise specified herein) and addresses the terms and conditions of Executive’s employment with the Employer, including but not limited to the consequences if Executive’s
employment is terminated for Good Reason or without Cause, each as defined herein. Executive desires to be employed by Employer on the terms and conditions contained in this Agreement. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and intending to be
legally bound hereby, the parties hereto agree as follows: 
 ARTICLE I. Capacity and Duties. 

1.1 Capacity and Duties.  

(a) Executive shall serve hereunder initially as Executive Vice President and Senior Lender, and thereafter during the
Employment Period (as defined in Section 2.1 below) in such other or additional positions as may be assigned by the Board of Directors of the Employer and/or the Bank (collectively, the “Board”) or by the President and Chief
Executive Officer of the Employer acting on behalf of the Board. Executive shall perform such duties and shall have such authority consistent with Executive’s position as may from time to time reasonably be specified by the Board or by the
President and Chief Executive Officer acting on behalf of the Board and in accordance with a job description provided to Executive by the Employer. Executive shall report directly to the Chief Executive Officer of the Employer and shall perform
Executive’s duties for the Employer principally at the headquarters of Hamilton Bancorp Inc. as of the Effective Date, or at 

 
such other locations as may be determined by the Board or by the President and Chief Executive Officer of the Employer acting on behalf of the Board, except for periodic travel that may be
necessary or appropriate in connection with the performance of Executive’s duties hereunder. The terms and conditions of this Agreement have been reviewed and approved by the Board’s Executive Compensation Committee, and such Committee
shall review the Agreement at least annually to assess the continuing appropriateness of this Agreement in light of the then-current needs of the Employer. No change in duties of Executive shall in any way diminish the Base Salary payable to
Executive pursuant to the provisions of Section 3 herein. 
 (b) Executive shall devote Executive’s full working
time, energy, skill and best efforts to the performance of Executive’s duties hereunder, in a manner that will faithfully and diligently further the business and interests of the Employer, and shall not be employed by or participate or engage
in or be a part of in any manner the management or operation of any business enterprise other than the Employer, (including, without limitation, participation by Executive on any unaffiliated profit or
non-profit board of directors) except: (i) for Executive’s continued service on the board of directors of certain unaffiliated organizations as set forth in Appendix A hereof; (ii) upon the
prior written notice to and consent of Executive Committee of the Board or the Chief Executive Officer, or (iii) solely as an investor in real or personal property, the management of which shall not detract from the performance of her duties
hereunder; provided, however, that the engagement by Executive in any such business activity shall at all times be in conformity with the Employer’s Code of Ethics, as the same may be amended or supplemented from time to time.
Notwithstanding anything herein to the contrary, Executive shall terminate any such activity upon thirty (30) days’ written request by the Employer. 

ARTICLE II. Term of Employment. 

2.1 Term. The term of Executive’s employment under this Agreement shall commence on the Effective Date and continue for a one
(1) year period if not sooner terminated or further extended pursuant to the terms of this Agreement (such period, as earlier terminated or further extended, the “Employment Period”). The Employment Period shall be extended
automatically for one (1) additional year on each anniversary of the Effective Date, unless either the Employer or Executive gives contrary written notice to the other at least sixty (60) days prior to the anniversary date. It is the
intention of the parties that this Agreement continue until (i) the expiration date if either party has given written notice to the other party of her or its intention not to renew this Agreement as provided above or (ii) the earliest of
(a) the voluntary termination of Executive’s employment with the Employer by Executive other than for Good Reason (as defined in Section 4.2), (b) the voluntary termination of Executive’s employment by Executive for Good Reason,
(c) the termination of Executive’s employment by the Employer for Cause (as defined in Section 4.4), (d) the termination of Executive’s employment by the Employer without Cause, (e) termination of Executive’s employment
with the Employer due to Disability (as defined in Section 4.5), (f) the termination of Executive’s employment with the Employer due to her Retirement (as defined in Section 4.1), or (g) the death of Executive. For the avoidance
of doubt, written notice given by any party of an intention not to renew this Agreement does not, in and of itself, establish a right to any payments contemplated in Section 4 of this Agreement. 

  
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 ARTICLE III. Compensation. 

3.1 Basic Compensation. As compensation for Executive’s services hereunder, the Employer shall pay to Executive a salary at an
initial annual rate equal to Two Hundred Nineteen Thousand Five Hundred Sixteen Dollars and No Cents ($219,516.00), payable in periodic installments in accordance with the Employer’s regular payroll practices in effect from time to time.
Executive’s annual salary, as determined in accordance with this Section 3.1, is hereinafter referred to as Executive’s “Base Salary.” For years subsequent to the initial year of the Employment Period,
Executive’s Base Salary shall be set by the Employer at an amount no less than the initial Base Salary. For each year in the Employment Period, Executive shall be a participant in any bonus and/or incentive compensation program for executives,
including in particular any annual cash bonus plan and/or equity-based long term incentive plan, that the Employer may implement and administer from time to time during the Employment Period, and the amount and form of such bonus and incentive
compensation shall be determined annually by the Employer consistent with its Board’s executive compensation practices. Any annual bonus payable to Executive shall be paid in the first quarter of the following fiscal year of the Employer on the
date annual bonuses are paid to senior management employees generally, subject to Executive’s continued employment through such date. References herein to the amount of Executive’s Base Salary or annual cash bonus or cash incentive
compensation shall be to the gross amount of such compensation element, exclusive of any elective compensation deferral agreements entered into by Executive from time to time. The determination of compensation payable by the Employer hereunder shall
be made by the Executive Compensation Committee of the Board, or its designee, which shall perform an annual review of this Agreement, the Employee’s performance with the Employer and compensation payable hereunder. 

3.2 Employee Benefits. In addition to the compensation provided for in Section 3.1, during the Employment Period, Executive shall
participate in those of the Employer’s broad-based employee retirement plans, welfare benefit plans, and other benefit programs for which Executive is eligible under the terms of the plan or program, on the same terms and conditions that are
applicable to employees generally. In addition, Executive may be eligible, as determined by the Executive Compensation Committee of the Board from time to time, during the Employment Period to participate in any of the Employer’s executive-only
retirement plan, deferred compensation plan, welfare benefit plan, or other benefit programs, as and to the extent any such benefit programs, plans or arrangements are or may from time to time be in effect during the Employment Period. 

3.3 Vacation and Leave. Executive shall be entitled to annual paid vacation, leave of absence and leave for illness or temporary
disability in conformity with the Employer’s regular policies and practices, and any leave on account of illness or temporary disability shall not constitute a breach by Executive of Executive’s agreements hereunder. 

3.4 Expense Reimbursement. During the Employment Period, the Employer shall reimburse Executive for all reasonable expenses incurred by
Executive in connection with the performance of Executive’s duties hereunder in accordance with its regular reimbursement policies as in effect from time to time and upon receipt of itemized vouchers therefor and such other supporting
information as the Employer may reasonably require. 

  
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 ARTICLE IV. Termination of Employment. 

4.1 Voluntary Termination or Retirement. In the event Executive’s employment is voluntarily terminated by the Executive other than
for Good Reason (as defined in Section 4.2), Employer shall not thereafter be obligated to make any further payments hereunder other than amounts (including salary, expense reimbursement, and employee benefits) accrued under this Agreement as
of the date of such termination in accordance with generally accepted accounting principles. Termination of Executive’s employment based on “Retirement” shall mean voluntary termination of Executive’s employment by
Executive at any time after Executive reaches age 65 or in accordance with any retirement policy establish by the Board with Executive’s consent as it applies to her. In the event Executive’s employment terminates due to Retirement, the
Employer shall be obligated to pay Executive an amount equal to six (6) months’ Base Salary payable during such six-month period in accordance with the Employer’s normal payroll processing
intervals in effect from time to time at the rate in effect immediately prior to the date of termination, together with a lump sum payment within thirty-five (35) days after Executive’s termination date in an amount equal to 150% of the
Employer’s actual premium cost of providing group term life insurance coverage to Executive for the three-year period following Executive’s termination date, applicable expense reimbursements and all accrued and unpaid benefits and vested
benefits in accordance with the applicable employee benefit plans. Upon making the payments described in this Section 4.1, the Employer shall have no further compensation obligation to Executive hereunder. For avoidance of doubt, if Executive
terminates her employment for any reason, including voluntarily resigning without Good Reason, within one (1) year of the Effective Date, the provisions of Section 4.3 shall apply in lieu of this Section 4.1. 

4.2 Termination for Good Reason; Termination Without Cause.  

(a) Except as expressly provided in Section 2.2(a) and 2.2(b) of the Change in Control Agreement, in the event: 

(i) Executive’s employment is terminated during the Employment Period by Executive for Good Reason (as defined herein)
within thirty (30) days of the initial existence of the Good Reason condition; or 
 (ii) Executive’s employment is
terminated during the Employment Period hereof by the Employer for any reason other than Cause (as defined herein): 
 then the Employer
shall pay (or cause to be paid) to Executive, within thirty-five (35) days following termination, a one-time lump sum cash payment equal to (i) Executive’s Base Salary for: (A) six (6)
months following such termination, or (B) the remaining duration of the Employment Period (whichever is greater) and (ii) an amount equal to the average annual cash bonus earned during the past three calendar years preceding the calendar
year in which the Executive’s termination of employment is effective (exclusive of any election to defer receipt of compensation Executive may have made). The amount paid in this Section 4.2 shall be subject to federal, state and local tax
withholding. Executive shall also 

  
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continue to be eligible to participate in the employee benefit plans referred to in Section 3.2 for a period of one (1) year (continuing to pay the employee portion of the premium costs
for the active plan). Notwithstanding the foregoing, if the applicable rules and regulations under Federal, Pennsylvania or Maryland law prohibit the Employer from providing Executive with the post-termination group health or other benefits
coverage, either directly or through COBRA, or if providing such coverage would subject the Employer to penalties or excise taxes, then the Employer shall continue to pay to the Executive the monthly amount equal to the COBRA premium amount being
paid by its former employees who are eligible for such COBRA participation or other benefits coverage continuation, but the Employer shall not be required to provide the Executive with enrollment and participation in the actual plans in which the
Employer’s employees are actually enrolled, except as required by applicable law. Notwithstanding the foregoing, in lieu of ongoing coverage under the group term life insurance program, the Employer shall pay Executive a lump sum payment within
thirty-five (35) days after Executive’s termination date in an amount equal to 150% of the Employer’s actual premium cost of providing group term life insurance coverage to Executive for the three-year period following
Executive’s termination date. If Executive is unable to continue to participate in any employee benefit plan or program provided for under this Agreement, Executive shall be compensated in respect of such inability to participate for a period
of one (1) year through payment by the Employer to Executive, of an amount equal to the cost that would have been incurred by the Employer if Executive were able to participate in such plan or program (less the employee portion of the premium
costs for the active plan) plus an amount which, when added to the Employer annual cost to the Employer, would be sufficient after Federal, state and local income and payroll taxes (based on the tax returns filed by Executive most recently prior to
the date of termination) to enable the Executive to net an amount equal to the Employer annual cost to the Employer. The period of continued health coverage required by Section 4980(B)(f) of the Internal Revenue Code of 1986, as amended
(“COBRA”) shall run concurrently with the coverage provided herein. 
 (b) As used herein, Executive shall
have “Good Reason” to terminate her employment if one of the following conditions (i) through (iii) comes into existence, Executive provides notice to the Employer of the existence of the condition within 90 days of its initial
existence, and the Employer fails to remedy the condition within 30 days of receiving notice of its existence: 
 (i) The
Employer has materially breached its material obligations under this Agreement; 
 (ii) The Employer, without
Executive’s prior written consent, changes or attempts to change in any material respect the authority, duties, compensation, incentive compensation, benefits or other terms or conditions of Executive’s employment, or Executive’s
reporting structure, in a manner that is adverse to the Executive; or 

  
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 (iii) The Employer requires Executive to relocate her principal business
location forty (40) miles or more from the headquarters of Hamilton Bancorp, Inc. as of the Effective Date. 

(c) For the avoidance of doubt, if Executive terminates her employment for any reason, including Good Reason, within one
(1) year of the Effective Date, the provisions of Section 4.3 shall apply in lieu of this Section 4.2. 
 4.3 Voluntary
Termination or Termination Without Cause Within One Year of Effective Date. 
 (a) In the event Executive’s
employment is terminated either by (i) the Executive, for any reason, including death or Disability (as defined below), or for no reason, or (ii) the Employer, without Cause, within one (1) year of the Effective Date, in place of any
amounts otherwise owed and payable by the Employer under Sections 4.1, 4.2 or 4.5, Executive shall be entitled to receive from the Employer the following compensation and benefits: 

(i) Executive shall be paid a cash payment equal to two (2) times the sum of: (1) Executive’s highest annual
Base Salary and (2) the highest cash bonus paid to, or earned by, Executive during the calendar year of Executive’s date of termination or either of the two (2) calendar years immediately preceding Executive’s date of
termination. For the avoidance of doubt, the two-year lookback in this Section 4.3(a)(i) shall include looking at the Base Salary and cash bonuses earned by Executive while employed at Hamilton Bancorp,
Inc.; and 
 (ii) The Employer will continue to provide Executive life insurance coverage and
non-taxable medical and dental insurance coverage substantially comparable (and on substantially the same terms and conditions) to the coverage maintained by the Employer immediately prior to her termination
under the same cost-sharing arrangements that apply for active employees of the Employer as of Executive’s date of termination. Such continued coverage shall cease upon the earlier of: (i) the date which is two (2) years from
Executive’s date of termination or (ii) the date on which Executive becomes a full-time employee of another employer, provided Executive is entitled to benefits that are substantially similar to the health and welfare benefits provided by
the Employer. If the Employer cannot provide one or more of the benefits set forth in this Section 4.3(a)(ii) because Executive is no longer an employee, applicable rules and regulations prohibit such benefits or the payment of such benefits in
the manner contemplated, or it would subject the Employer to penalties, then the Employer shall pay Executive a cash lump sum payment reasonably estimated to be equal to the value of such benefits or the value of the remaining benefits at the time
of such determination. Such cash payment shall be made in a lump sum within thirty-five (35) days after the later of Executive’s date of termination or the effective date of the rules or regulations prohibiting such benefits or subjecting
the Employer to penalties. 

  
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 (b) Notwithstanding anything in this Section 4.3 to the contrary, in no
event shall the aggregate payments or benefits to be made or afforded to Executive under this Section, either as a standalone benefit or when aggregated with other payments to, or for the benefit of, Executive (collectively referred to as the
“Change in Control Benefits”) that are contingent on a change in control (as defined under Code Section 280G) constitute an “excess parachute payment” under Code Section 280G or any successor thereto, and in
order to avoid such a result, Executive’s benefits payable under this Agreement shall be reduced by the minimum amount necessary so that the Change in Control Benefits that are payable to Executive are not subject to penalties under Code
sections 280G and 4999. 
 (c) For the avoidance of doubt, the benefits provided for in this Section 4.3 shall be
limited to termination by the Company without Cause or termination by the Executive for any reason, including death or Disability (as defined below) or no reason, that occurs within one (1) year of the Effective Date and shall not apply to any
renewal term commencing after the one-year anniversary of the Effective Date. 
 4.4 Termination
for Cause. Executive’s employment hereunder shall terminate immediately upon notice of termination for Cause (as defined herein), in which event the Employer shall not thereafter be obligated to make any further payments hereunder other
than amounts (including salary, expense reimbursement, and employee benefits) accrued under this Agreement or accrued or vested under the terms of any employee benefit plan or incentive and/or equity-based long term incentive plan as of the date of
such termination in accordance with generally accepted accounting principles. As used herein, “Cause” shall mean the following: 

(a) Executive shall have committed an act of personal dishonesty with respect to material communications with the Board or
anyone to whom Executive reports; 
 (b) Executive’s willful misconduct in the performance of her duties as an employee
of the Employer; 
 (c) the issuance of a final
cease-and-desist order by a state or federal agency having jurisdiction over the Employer or any entity which controls the Employer to the extent such cease-and-desist order requires the termination of Executive’s employment; 

(d) Executive’s breach of fiduciary duty; 

(e) Executive’s material breach of any provision of this Agreement; 

(f) Executive’s willful violation of any law, rule or regulation that constitutes a felony (other than traffic violations
or similar offenses); 
 (g) Executive’s deliberate and intentional refusal or failure (for reasons other than
incapacity due to accident or physical or mental illness) to perform Executive’s duties to the Employer, where such refusal or failure continues for a period of at least thirty (30) consecutive days following the receipt by Executive of
written notice from the Employer setting forth in reasonable detail the facts upon which the Employer relies in concluding that Executive has deliberately and intentionally refused or failed to perform such duties; or 

  
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 (h) Executive’s conduct that brings public discredit on or injures the
reputation of the Employer, in the Employer’s reasonable opinion. 
 4.5 Benefits Following Death or Disability.  

(a) Following Executive’s total disability (as defined below) or death during the Employment Period, the employment of the
Executive will terminate automatically, in which event the Bank shall not thereafter be obligated to make any further payments hereunder other than amounts (including salary, expense reimbursement, and employee benefits) accrued under this
Agreement, amounts that may be due pursuant to Section 4.3 or accrued or vested under the terms of any employee benefit plan, or incentive and/or equity based long-term incentive plan as of the date of such termination in accordance with
generally accepted accounting principles or as otherwise specifically provided herein. For purposes hereof, “Disability” shall mean that the Executive, by reason of a medically determinable physical or medical impairment that can be
expected to result in death or expected to last for a continuous period of at least twelve (12) months, (i) is unable to engage in any substantial gainful activity, or (ii) has received income replacement benefits for a period of at least
three (3) months under an accident or health plan of the Employer. 
 (b) In the event of a termination of this
Agreement as a result of Executive’s death, the Employer shall, as soon as administratively practicable, pay Executive’s designated beneficiaries an amount equal to six months’ Base Salary at the rate and as required by
Section 3.1 and in effect immediately prior to the date of death, together with payment in an amount equal to 100% of the premium cost of COBRA continuation coverage under the applicable health plan of the Employer or its Affiliates pursuant to
Code Section 4980B for Executive’s (i) surviving spouse for the period commencing as of the first day of the first month next following Executive’s death and continuing for the duration of the applicable COBRA continuation period
and (ii) dependent children for the period commencing as of the first day of the first month next following Executive’s death and continuing until the earlier of (A) the duration of the applicable COBRA continuation period, or
(B) the date such dependent children cease to be “qualifying children” under the Employer’s health plan, at the COBRA rate then in effect as of the date of Executive’s death (as reasonably determined by the Employer) (less
the employee portion of the premium costs for the active plan) and assuming an annual 10% increase in the amount of such COBRA premium over the applicable periods of time described in this sentence. The period of continued health coverage required
by COBRA shall run concurrently with the coverage provided herein. Executive’s dependents, beneficiaries and estate, as the case may be, will also receive such survivor’s income and other benefits as they may be entitled under the terms of
the benefit programs, plans, and arrangements described in Section 3.2 which provide benefits upon the death of Executive. 

  
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 (c) In the event of a termination of this Agreement as a result of the
Executive’s Disability, (A) the Employer shall pay Executive an amount equal to six (6) months’ Base Salary at the rate and as required by Section 3.1 and in effect immediately prior to the date of Disability, together with a
payments in an amount equal to 100% of the premium cost of COBRA continuation coverage under the applicable health plan of the Employer or its affiliates pursuant to Code Section 4980B for Executive’s (i) individual coverage and that
of her spouse for the period commencing as of the first day of the first month next following Executive’s termination as a result of Disability and continuing for the duration of the applicable COBRA continuation period and (ii) dependent
children for the period commencing as of the first day of the first month next following Executive’s termination as a result of Disability and continuing until the earlier of (A) the applicable COBRA continuation period or (B) the
date such dependent children cease to be “qualifying children” under the Employer’s health plan, at the COBRA rate then in effect as of the date of Executive’s termination as a result of Disability (as reasonably determined by
the Employer) (less the employee portion of the premium costs for the active plan) and assuming an annual 10% increase in the amount of such COBRA premium over the applicable periods of time described in this sentence. The Employer shall also pay
Executive payments within thirty-five (35) days after Executive’s termination date equal to 150% of the Employer’s actual premium cost of providing group term life insurance coverage to Executive for the three year period following
Executive’s date of Disability and (A) thereafter for as long as Executive continues to be disabled, the Employer shall continue to pay an amount equal to at least 60% of Base Salary in effect immediately prior to the date of Disability
until the earlier of Executive’s death or December 31 of the calendar year in which Executive attains age 65, reduced by any disability payments from any Employer provided disability insurance plans or programs and any benefits payments
received from the Federal Social Security or applicable state disability benefits programs; and (B), to the extent not duplicative of the foregoing, Executive shall receive those benefits customarily provided by the Employer to disabled former
employees, which benefits may include, but shall not be limited to, life, medical, health, accident insurance and a survivor’s income benefit. The period of continued health coverage required by COBRA shall run concurrently with the coverage
provided herein. 
 (d) For the purposes of (b) and (c) above, Executive or Executive’s dependents shall pay the
same percentage of the total cost of coverage under the applicable employee benefit plans as Executive was paying, if any, when Executive’s employment terminated. The total cost of Executive’s continued coverage shall be determined using
the same rates for health, life and/or disability coverage that apply from time to time to similarly situated active employees. 
 4.6
Death or Disability Following Termination of Employment. Executive’s disability or death following Executive’s termination of employment pursuant to Section 4.2 shall not affect Executive’s right, or if applicable, the
right of Executive’s beneficiaries, to receive the payments for the balance of the period described in Section 4.2 or 4.3, as applicable. 

4.7 Beneficiary Designation. Executive may, at any time, by written notice to the Employer, name one or more beneficiaries of any
benefits which may become payable by the Employer pursuant to this Agreement. If Executive fails to designate a beneficiary any benefits to be paid pursuant to this Agreement shall be paid to Executive’s estate. 

  
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 4.8 Preemptive Consideration. Notwithstanding anything to the contrary set forth
herein, if Executive is suspended and/or temporarily prohibited from participating in the conduct of the Employer’s, or any of its affiliates’, affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit
Insurance Act (12 U.S.C. 1818 (e)(3) and (g)(1) or any amendments or supplements thereto), 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 Executive all or part of the compensation withheld while this Agreement’s obligations were suspended, and (ii) reinstate (in whole or in part) any of its obligations
which were suspended. If Executive is removed or permanently prohibited from participating in the conduct of the Employer’s, or any of its affiliates’, business affairs by an order issued by the FDIC or SEC, or equivalent provisions
relating to a regulator with supervisory authority over the Employer or any of its affiliates, all obligations of the Employer and any of its affiliates under this Agreement shall terminate as of the effective date of the order, but vested rights of
the parties shall not be affected. 
 4.9 FDIC Compliance. Notwithstanding anything herein contained to the contrary, any payments to
Executive by the Employer, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(k) and FDIC regulation 12 C.F.R. Part
359, Golden Parachute and Indemnification Payments. 
 ARTICLE V. Restrictive Covenants and Clawback. 

5.1 Confidentiality and Non-disclosure. Executive acknowledges a duty of confidentiality owed
to the Employer and shall not, at any time during or after Executive’s employment by the Employer, retain in writing, use, divulge, disclose, furnish, or make accessible to any person or entity, without the express authorization of the Board or
senior management of the Employer, any trade secret, private or confidential information or knowledge of the Employer or any of their affiliates learned, obtained or acquired by Executive while so employed, including but not limited to, proprietary
business information, products, processes, services, formulas, materials and formulations, research and development, techniques or know-how, financial records, sales records and data, customer lists, customer
contact information and customer preference information, historical volumes, business strategies and competitive sales or marketing strategies and trade secrets as defined by Pennsylvania law. All computer software, business cards, customer lists,
price lists, contract forms, catalogs, books, records, files and know-how acquired while an employee of the Employer are acknowledged to be the property of the Employer (or the applicable affiliate) and shall
not be duplicated, removed from the Employer’s possession or made use of other than in pursuit of the Employer’s business. Upon the termination of the employment hereunder, the Executive shall deliver to the Bank all correspondence,
reports, customer files, customer lists, office keys, manuals, advertising brochures, sample contracts, price lists, employee lists, prospective employee or customer lists, mailing lists, letters, records and any and all other documents pertaining
to or containing information relative to the business of the Bank, and the Executive shall not remove any of such records either during the course of employment or upon the termination thereof. 

  
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 Executive understands that in the event of a violation of the provisions of this
Section 5.1, the Bank shall have the right to seek injunctive relief, in addition to any other existing rights provided herein or by operation of law, without the requirement of posting bond. The remedies provided in this Section 5.1 shall
be in addition to any legal or equitable remedies existing between Executive, and shall not be construed as a limitation upon, or as alternative or in lieu of, such remedies. 

5.2 Intellectual Property Rights. Executive agrees that all literary work, copyrightable material or other proprietary information or
materials developed by the Executive during the term of this Agreement and relating to, or capable of being used or adopted for use in, the business of the Employer or any Affiliates shall inure to and be the property of the Employer and Affiliates
and must be promptly disclosed to the Employer. Employee hereby transfers and assigns to Employer all rights in and to such Intellectual Property. Both during employment by the Employer and thereafter, the Executive shall, at the expense of the
Employer, execute such documents and do such things as the Employer reasonably may request to enable the Employer or their nominee (i) to apply for copyright or equivalent protection in the United States, Canada and elsewhere for any literary
work hereinabove referred in this paragraph, or (ii) to be vested with any such copyright protection in the United States, Canada and elsewhere. 

5.3 Non-Competition and Non-solicitation. 

(a) During the Employment Period and for a Restricted Period (as defined below) after Executive ceases to be employed by or
provide services to Employer, the Executive shall not: 
 (i) solicit, either directly or indirectly, current or former
customers of the Employer or any of its subsidiaries to divert their business from the Employer or its subsidiaries; and 

(ii) solicit, either directly or indirectly, any person who is employed by the Employer or any of its subsidiaries to leave the
employment of the Employer; and 
 (iii) be engaged (other than by the Employer), either directly or indirectly, as an
officer, owner, shareholder (except as an investor owning less than 5% of the outstanding publicly traded stock of any corporation so engaged), general or limited partner, director, or employee or as an agent of, or a consultant to, or otherwise
give financial or other assistance to, any person or entity engaged in (1) the banking or financial services industry, (2) starting a new bank, or (3) any other activity in which the Employer or any of its subsidiaries were engaged
during the Employment Period, in any case anywhere within the Restricted Territory. For purposes of this Section 5.3(a), the “Restricted Territory” shall mean: (1) the Commonwealth of Pennsylvania (“PA”),
provided this area within PA is within a seventy-five (75) mile radius from the headquarters of Hamilton Bancorp, Inc. as of the Effective Date; (2) the City of Baltimore, Maryland; and (3) the following counties in Maryland:
Baltimore County, Harford County, Carroll County, Howard County, and Anne Arundel County. 

  
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 (b) The provisions of Section 5.3(a) shall be applicable commencing on
the date of this Agreement and continue for twelve (12) months after the effective date of the termination of Executive’s employment in the case of Section 5.3(a)(i) and twelve (12) months in the cases of Sections 5.3(a)(ii) and
(iii) (the “Restricted Period”). The covenants in this Section 5.3 shall not be affected by the circumstances surrounding termination of Executive’s employment, except as expressly provided in the Change in Control
Agreement. 
 (c) The parties expressly acknowledge that the restrictions contained in this Section 5.3 are reasonable
in order to preserve the Employer’s good will and other proprietary rights. Notwithstanding this acknowledgment, if a court having jurisdiction makes a final judicial determination that the duration or geographic scope of the restrictions in
this Section 5.3 are unreasonable or otherwise unenforceable, the covenants in Section 5.3 shall not be rendered void but shall be amended to apply the maximum duration and geographic scope that such court may judicially deem or indicate
to be reasonable. 
 (d) For the purpose of Sections 5.2 and 5.3, the Employer shall be deemed to refer to the Employer and
all of their present or future affiliates. 
 5.4 Injunctive and Other Relief.  

(a) Executive acknowledges and agrees that the covenants contained herein are fair and reasonable in light of the additional
consideration paid hereunder, which Executive acknowledges is adequate and sufficient consideration, and that damages alone shall not be an adequate remedy for any breach by Executive of Executive’s covenants which then apply and accordingly
expressly agrees that, in addition to any other remedies which the Employer may have, the Employer shall be entitled to seek injunctive relief in any court of competent jurisdiction for any breach or threatened breach of any such covenants by
Executive without the requirement of posting a bond. Nothing contained herein shall prevent or delay the Employer from seeking, in any court of competent jurisdiction, specific performance or other equitable remedies in the event of any breach or
intended breach by Executive of any of its obligations hereunder. 
 (b) In the event Executive breaches Executive’s
obligations under Section 5.3, the period specified therein shall be tolled during the period of any such breach and any litigation seeking remedies for such breach and shall resume upon the conclusion or termination of any such breach and any
such litigation. The remedies set forth in this Section are cumulative and in addition to any and all other remedies available to the Employer at law or in equity. 

(c) In addition to other remedies contained in this Agreement to which the Employer may be entitled, the Employer shall receive
attorney’s fees and any other expenses incident to the maintenance of any action to enforce its rights under this Agreement if such litigation is concluded or terminated, in whole or in part, in the Employer’s favor. 

  
 12 

 5.5 Disclosure. Executive agrees to disclose the restrictive covenants contained in
Sections 5.2 and 5.3 of this Agreement to any prospective employer prior to employment with the prospective employer both during her employment by the Employer and for a period of two (2) years following termination of employment with the
Employer. 
 5.6 Clawback. Executive acknowledges that the Executive is subject to any clawback policy that may be adopted by the
Board. Absent any formal clawback policy, the Executive agrees that Executive shall be required to forfeit and pay back to the Employer any bonus or other incentive compensation paid to Executive if: (a) a court makes a final determination that
the Executive directly or indirectly engaged in fraud or misconduct that caused or partially caused the need for a material financial restatement by the Employer; or (b) the independent members of the Board determine that the Executive has
committed a material violation of the Employer’s Code of Conduct. 
 ARTICLE VI. Miscellaneous. 

6.1 Invalidity. If any provision hereof is determined to be invalid or unenforceable by a court of competent jurisdiction, Executive
shall negotiate in good faith to provide the Employer with protection as nearly equivalent to that found to be invalid or unenforceable and if any such provision shall be so determined to be invalid or unenforceable by reason of the duration or
geographical scope of the covenants contained therein, such duration or geographical scope, or both, shall be considered to be reduced to a duration or geographical scope to the extent necessary to cure such invalidity. 

6.2 Assignment: Benefit. This Agreement shall not be assignable by Executive, and shall be assignable by the Employer only to any
affiliate or to any person or entity which may become a successor in interest (by purchase of assets or stock, or by merger, or otherwise) to the Employer in the business or a portion of the business presently operated by it. Subject to the
foregoing, this Agreement and the rights and obligations set forth herein shall inure to the benefit of, and be binding upon, the parties hereto and each of their respective permitted successors, assigns, heirs, executors and administrators,
including the restrictive covenants of this Agreement. 
 6.3 Notices. All notices hereunder shall be in writing and shall be
sufficiently given if hand-delivered, sent by documented overnight delivery service or registered or certified mail, postage prepaid, return receipt requested or by telegram, fax or telecopy (confirmed by U.S. mail), receipt acknowledged, addressed
as set forth below or to such other person and/or at such other address as may be furnished in writing by any party hereto to the other. Any such notice shall be deemed to have been given as of the date received, in the case of personal delivery, or
on the date shown on the receipt or confirmation therefor, in all other cases. Any and all service of process and any other notice in any such action, suit or proceeding shall be effective against any party if given as provided in this Agreement;
provided that nothing herein shall be deemed to affect the right of any party to serve process in any other manner permitted by law. 

  
 13 

 (a) If to the Employer: 

Orrstown Bank 
 77 East King
Street 
 Shippensburg, PA 17257 

Attention: Director of Human Resources 

(b) If to Executive: 

Ms. Ellen Fish 
 Most
Recent Address on File with the Bank 
 6.4 Entire Agreement and Modification. This Agreement between the parties, along with the
Change in Control Agreement of even date herewith, constitute the entire agreement between the parties hereto with respect to the matters contemplated herein and supersede all prior agreements and understandings with respect thereto. Any amendment,
modification, or waiver of this Agreement shall not be effective unless in writing and agreed and executed by the Employer and Executive. Neither the failure nor any delay on the part of any party to exercise any right, remedy, power or privilege
shall preclude any other or further exercise of the same or of any other right, remedy, power, or privilege with respect to any occurrence and such failure or delay to exercise any right shall be construed as a waiver of any right, remedy, power, or
privilege with respect to any other occurrence. 
 6.5 Governing Law, Forum. This Agreement is made pursuant to, and shall be
construed and enforced in accordance with, the laws of the Commonwealth of Pennsylvania (and United States federal law, to the extent applicable), without giving effect to otherwise applicable principles of conflicts of law. All actions hereunder
shall be filed in the appropriate courts located in Cumberland and Franklin Counties, Pennsylvania and Executive consents to venue and jurisdiction therein. 

6.6 Headings; Counterparts. The headings of sections and subsections in this Agreement are for convenience only and shall not affect its
interpretation. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which, when taken together, shall be deemed to constitute but one and the same Agreement. 

6.7 Further Assurances. Each of the parties hereto shall execute such further instruments and take such other actions as any other party
shall reasonably request in order to effectuate the purposes of this Agreement. 
 6.8 Attorneys’ Fees and Related Expenses. All
reasonable attorneys’ fees and related expenses incurred by Executive in connection with or relating to the review and negotiation of this Agreement or, if Executive prevails in connection with enforcing Executive’s rights under this
Agreement, the enforcement by Executive of Executive’s rights under this Agreement, shall be paid in full by the Employer. 
 6.9
Mitigation. Executive shall not be required to mitigate the amount of any payment or benefit provided for in Section 4 herein or pursuant to the Change in Control Agreement by seeking employment or otherwise and shall not be entitled to set-off against the amount of any payments made pursuant to Section 4 herein or pursuant to the Change in Control Agreement with respect to any compensation earned by Executive arising from other employment.

  
 14 

 6.10 Indemnification. Except to the extent inconsistent with the Employer’s
certificate of incorporation or bylaws, the Employer will indemnify the Executive and hold Executive harmless to the fullest extent permitted by law with respect to Executive’s service as an officer and employee of the Employer and its
subsidiaries, which indemnification shall be provided following termination of employment for so long as Executive may have liability with respect to Executive’s service as an officer or employee of the Employer and its subsidiaries. The
Executive will be covered by a directors’ and officers’ insurance policy with respect to Executive’s acts as an officer to the same extent as all other officers of the Employer under such policies. 

6.11 409A Safe Harbor. Notwithstanding anything in this Agreement to the contrary, in no event shall the Employer be obligated to
commence payment or distribution to the Executive of any amount that constitutes nonqualified deferred compensation within the meaning of Code Section 409A (“Section 409A”) earlier than the earliest
permissible date under Section 409A that such amount could be paid without additional taxes or interest being imposed under Section 409A. The Employer and Executive agree that they will execute any and all amendments to this Agreement as
they mutually agree in good faith may be necessary to ensure compliance with the distribution provisions of Section 409A and to cause any and all amounts due under this Agreement, the payment or distribution of which is delayed pursuant to
Section 409A, to be paid or distributed in a single sum payment at the earliest permissible date under Section 409A. Without limiting the generality of the foregoing, in the event Executive is to receive a payment of compensation hereunder
that is on account of a separation from service (as defined in accordance with Section 409A), such payment is subject to the provisions of Section 409A, and Executive is a “key employee” of the Employer, then payment shall not be
made before the date that is six months after the date of separation from service (or, if earlier than the end of the six month period, the date of the Executive’s death). Amounts otherwise payable during such six month payment shall be
accumulated and paid in a lump sum on the first day of the seventh month. For purposes hereof, Executive is a key employee of the Employer if, on her date of separation from service, the Employer is publicly traded and he met the definition of key
employee found in Code Section 416(i)(1)(A)(i), (ii) or (iii) (disregarding Section 416(i)(5)) as of the last day of the calendar year preceding the date of separation. 

6.12 Taxes and Withholdings. All amount paid to Executive under this Agreement during for following the Employment Period shall be
subject to withholding and other employment taxes imposed by applicable law. Executive shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits paid to Executive hereunder or otherwise.

 6.13 Non-Disparagement: Upon termination of employment hereunder, Executive shall not
malign, criticize or otherwise disparage Orrstown, the Bank or any of their affiliates or any of their respective officers, employees or directors. 

6.14 Release: Notwithstanding any other provision of this Agreement, any severance or termination payments or benefits described are
conditioned on Executive’s execution and delivery to the Employer of an effective general release and non-disparagement agreement (the “Release”) in a form prescribed by the Employer and
in substantial conformity with such agreement attached hereto as Annex A and in a manner consistent with the requirements of the 

  
 15 

 
Older Workers Benefit Protection Act and any applicable state law. The Release must be executed and become irrevocable by the 60th day
following the date of Executive’s termination of employment, provided that if the 60-day period spans two (2) calendar years, then, to the extent necessary to comply with Code Section 409A, the
payments and benefits under this Agreement will be paid, or commence, in the second calendar year. 
 6.15 Protected Disclosures and Other
Protected Action: Nothing in this Agreement shall be interpreted or applied to prohibit the Executive from making any good faith report to any governmental agency or other governmental entity (a “Government Agency”) concerning
any act or omission that the Executive reasonably believes constitutes a possible violation of federal or state law or making other disclosures that are protected under the anti-retaliation or whistleblower provisions of applicable federal or state
law or regulation. In addition, nothing contained in this Agreement limits the Executive’s ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government
Agency, including the Executive’s ability to provide documents or other information, without notice to the Company. In addition, for the avoidance of doubt, pursuant to the federal Defend Trade Secrets Act of 2016, the Executive shall not be
held criminally or civilly liable under any federal or state trade secret law or under this Agreement or the Restrictive Covenants Agreements for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or
local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or
other proceeding, if such filing is made under seal. 
 6.16 Other Rights. Nothing in this Agreement is intended to limit
Executive’s right to (a) payment or reimbursement for welfare benefit claims incurred prior to the cessation of her employment under any group insurance plan, policy or arrangement of the Employer in accordance with the terms of such plan,
policy or arrangement, (b) elect COBRA benefits in accordance with the applicable law, or (c) receive a distribution of vested accrued benefits from any employee pension benefit plan in accordance with the terms of that plan. 

6.17 Survival. Notwithstanding anything to the contrary in this Agreement, the parties agree that the Employee’s obligations under
Article 5 of this Agreement shall continue despite the expiration of the term of this Agreement or its termination. 
 [Signature page
follows] 

  
 16 

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

			
	Name: Ellen Fish (“Executive”)
	
	 /s/ Ellen Fish

	Signature
	
	ORRSTOWN FINANCIAL CORPORATION (“Orrstown”)
		
	By:	 	 /s/ Thomas R. Quinn, Jr.

	Name: Thomas R. Quinn, Jr.
	Title:   President and Chief Executive Officer
	
	ORRSTOWN BANK (the “Bank”)
		
	By:	 	 /s/ Thomas R. Quinn, Jr.

		 	Name: Thomas R. Quinn, Jr.
		 	Title: President and Chief Executive Officer

 [Signature Page to Fish Employment Agreement] 

 ANNEX A 

Separation Agreement and General Release 

THIS SEPARATION AGREEMENT AND GENERAL RELEASE (this “Agreement”) is made by and between Ellen Fish (the
“Executive”), Orrstown Financial Services, Inc., a corporation organized and existing under the laws of the Commonwealth of Pennsylvania (the “Corporation”) and Orrstown Bank, a Pennsylvania-chartered
bank and trust company (the “Bank”). 
 WHEREAS, the Executive, the Corporation and the Bank entered into an Employment Agreement
dated                                     , (the “Employment
Agreement”) that sets forth the terms and conditions of the Executive’s employment with the Corporation and the Bank, including the circumstances under which the Executive is eligible to receive severance pay. 

NOW, THEREFORE, the Executive, the Corporation and the Bank each intending to be legally held bound, hereby agree as follows: 

1. Consideration. In consideration for a release of claims and other promises and covenants set forth herein, the Corporation and the
Bank agree to pay the Executive such consideration as is specified in Section         of the Employment Agreement in accordance with the terms and conditions of the Employment Agreement. 

2. Executive’s Release. The Executive on the Executive’s own behalf and together with the Executive’s heirs, assigns,
executors, agents and representatives (the “Releasors”) hereby generally releases and discharges the Corporation and the Bank and their respective subsidiaries, affiliates and the respective predecessors, successors (by merger or
otherwise) and assigns of any of the foregoing, together with each and every of the present, past and future officers, managers, directors, shareholders, members, general partners, limited partners, employees and agents of any of the foregoing, and
the heirs and executors of any of the foregoing (herein collectively referred to as the “Releasees”) from any and all suits, causes of action, complaints, obligations, demands, common law or statutory claims of any kind, whether in
law or in equity, direct or indirect, known or unknown (hereinafter “Claims”), which the Executive ever had or now has against the Releasees, or any one of them occurring up to and including the date of this Agreement.
Notwithstanding anything herein to the contrary, the Executive’s release is not and shall not be construed as a release of any future claim by the Executive against the Corporation or the Bank or of any claim to enforce the Executive’s
rights under this Agreement. Subject to the preceding sentence, this release specifically includes, but is not limited to: 
 (a) any and
all Claims for wages and benefits including, without limitation, salary, stock options, stock, royalties, license fees, health and welfare benefits, severance pay, vacation pay, and bonuses; 

(b) any and all Claims for wrongful discharge, breach of contract, whether express or implied, and Claims for breach of implied covenants of
good faith and fair dealing; 

  
 A-1 

 (c) any and all Claims for alleged employment discrimination on the basis of race, color,
religion, sex, age, national origin, veteran status, disability and/or handicap, in violation of any federal, state or local statute, ordinance, judicial precedent or Employee order, including but not limited to claims for discrimination under the
following statutes: Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e et seq.; the Civil Rights Act of 1866, 42 U.S.C. §1981; the Civil Rights Act of 1991; the Age Discrimination in Employment Act, as amended, 29 U.S.C.
§621 et seq.; the Older Workers Benefit Protection Act 29 U.S.C. §§ 623, 626 and 630; the Rehabilitation Act of 1972, as amended, 29 U.S.C. §701 et seq.; the Americans with Disabilities Act, 42 U.S.C. §12101
et seq.; the Family and Medical Leave Act of 1993, 29 U.S.C. §2601, et seq.; the Fair Labor Standards Act, as amended, 29 U.S.C. §201, et seq.; the Fair Credit Reporting Act, as amended, 15 U.S.C. §1681, et
seq.; and the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1000, et seq. (“ERISA”) or any comparable state statute or local ordinance; 

(d) any and all Claims under any federal or state statute relating to employee benefits or pensions; 

(e) any and all Claims in tort, including but not limited to, any Claims for assault, battery, misrepresentation, defamation, interference
with contract or prospective economic advantage, intentional or negligent infliction of emotional distress, duress, loss of consortium, invasion of privacy and negligence; and 

(f) any and all Claims for attorneys’ fees and costs. 

3. Specific Release of ADEA Claims. In further consideration of the payments and benefits provided to the Employee in this Agreement,
the Releasors irrevocably and unconditionally fully and forever waive, release, and discharge the Releasees from any and all Claims, occurring up to and including the date of this Agreement arising under the Age Discrimination in Employment Act
(ADEA), as amended, and its implementing regulations. By signing this Agreement, the Executive acknowledges and confirms that: 
 (a) the
Executive has read this Agreement in its entirety and understands all of its terms; 
 (b) by this Agreement, the Executive has been advised
in writing of the right to consult with an attorney of the Executive’s choosing before executing this Agreement; 
 (c) the Executive
knowingly, freely, and voluntarily assents to all of the terms and conditions set out in this Agreement, including, without limitation, the waiver, release, and covenants contained in it; 

(d) the Executive is executing this Agreement, including the waive and release, in exchange for good and valuable consideration in addition to
anything of value to which the Executive is otherwise entitled; 

  
 A-2 

 (e) the Executive was given at least twenty-one
(21) days to consider the terms of this Agreement and consult with an attorney of the Executive’s choice, although Executive may sign it sooner if desired; 

(f) the Executive acknowledges that the Executive has seven (7) days from signing this Agreement to revoke the releases in this paragraph
by delivering notice of revocation in writing to [NAME], [TITLE], at [ADDRESS] before the end of this seven-day period, and that if Executive does not revoke the releases in this paragraph within the seven-day period, the Executive’s acceptance of this Agreement shall become binding and enforceable on the eighth day; 

(g) the Executive understands that the release contained in this paragraph does not apply to rights and claims that may arise after the
Executive signs this Agreement. 
 4. General Release Exceptions. This Agreement does not waive, release, or discharge (a) any
right to file an administrative charge or complaint with the Equal Employment Opportunity Commission, or other federal administrative agency, though the Executive waives any right to monetary relief related to such charge or complaint;
(b) claims that cannot be waived by law; (c) indemnification rights Executive has against the Employer; (d) any rights under severance provisions under the Employment Agreement; (e) rights to benefits under any employment benefit
plan as defined in Section 3(3) of ERISA 29 U.S.C. 1002(3) and any non-qualified deferred compensation plan or arrangement under which Executive is a participant; and (f) rights to elect health care
continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. 
 5. Acknowledgments. The
Executive understands that the release of Claims contained in this Agreement extends to all of the aforementioned Claims and potential Claims which arose on or before the date of this Agreement, whether now known or unknown, suspected or
unsuspected, and that this constitutes an essential term of this Agreement. The Executive further understands and acknowledges the significance and consequences of this Agreement and of each specific release and waiver, and expressly consents that
this Agreement shall be given full force and effect to each and all of its express terms and provisions, including those relating to unknown and uncompensated Claims, if any, as well as those relating to any other Claims specified herein. 

6. Remedies. All remedies at law or in equity shall be available to the Releasees for the enforcement of this Agreement. This Agreement
may be pleaded as a full bar to the enforcement of any Claim that the Executive may assert against the Releasees. The non- prevailing party in any litigation shall pay for the prevailing party’s costs and
expenses of litigation including without limitation the prevailing parties attorney’s fees. 
 7. No Admission. Neither the
execution of this Agreement by the Corporation and the Bank, nor the terms hereof, constitute an admission by the Corporation or the Bank of any liability to the Executive. 

  
 A-3 

 8. Entire Agreement. This Agreement contains the entire agreement of the parties with
respect to the subject matter hereof, and shall be binding upon their respective heirs, executors, administrators, successors and assigns. In the event there is any inconsistency between the terms of this Agreement and the Employment Agreement, the
terms of this Agreement shall control. 
 9. Severability. If any term or provision of this Agreement shall be held to be invalid or
unenforceable for any reason, then such term or provision shall be ineffective to the extent of such invalidity or unenforceability without invalidating the remaining terms or provisions hereof, and such term or provision shall be deemed modified to
the extent necessary to make it enforceable. 
 10. Executive’s Representation. The Executive represents and warrants that he or
she has not assigned any claim that he or she purports to release hereunder and that he or she has the full power and authority to enter into this Agreement and bind each of the persons and entities that the Executive purports to bind. The Executive
further represents and warrants that he is subject to, and will continue to abide by all surviving provisions of her Employment Agreement, dated [•], including, without limitation, the covenants regarding confidentiality, non-solicitation, non-competition, and non-disparagement (the “Covenants”), all of which are incorporated by reference as if
set forth herein in their entirety. Nothing in this agreement is intended to modify, supersede, or replace any provision, right or obligation of the Executive under the Covenants. 

11. Amendments. Neither this Agreement nor any term hereof may be changed, waived, discharged, or terminated, except by a written
agreement signed by the parties hereto. 
 12. Governing Authority. This Agreement shall be governed by and construed in accordance
with the laws of the Commonwealth of Pennsylvania, without regard to the principles of conflicts of laws of any jurisdiction. The Executive agrees that the Corporation and the Bank shall have the right to commence and maintain an action hereunder in
the state and federal courts appropriate for the location at which the Corporation maintains its corporate offices, and the Executive hereby submits to the jurisdiction and venue of such courts. 

13. Fees and Costs. The parties shall bear their own attorneys’ fees and costs. 

14. Counterparts. This Agreement may be executed in counterparts. 

15. Legally Binding. The terms of this Agreement contained herein are contractual, and not a mere recital. 

[signature page follows] 

  
 A-4 

 IN WITNESS WHEREOF, the Executive, acknowledging that he or she is acting of her or her own
free will after having had the opportunity to seek the advice of counsel and a reasonable period of time to consider the terms of this Agreement, and the Corporation and the Bank, have caused the execution of this Agreement as of this day and year
written below. 
  

									
	EXECUTIVE	 		  	WITNESS
					
	By:	 	  
	 		  	By:	  	  

					
	Name:	 	  
	 		  	Name:	  	  

					
	Date:	 	  
	 		  	Date:	  	  

			
	ORRSTOWN FINANCIAL SERVICES, INC.	 		  	ORRSTOWN BANK
					
	By:	 	
                     
                        
	 		  	By:	  	
                     
                                         
   

					
	Name:	 	  
	 		  	Name:	  	  

					
	Title:	 	  
	 		  	Title:	  	  

					
	Date:	 	  
	 		  	Date:	  	  

  
 A-5EX-10.3

 Exhibit 10.3 

Execution Version 

CHANGE IN CONTROL AGREEMENT 

This Change in Control Agreement (“Agreement”) is by and among Orrstown Financial Services, Inc., a Pennsylvania corporation
(“Orrstown”), Orrstown Bank, a bank and trust company organized under the Pennsylvania Banking Code of 1965 and a wholly owned subsidiary of Orrstown (the “Bank”) (Orrstown and the Bank are hereinafter collectively
referred to as the “Employer”) and Ellen Fish, an adult individual (“Executive”). This Agreement is being executed in connection with the Agreement and Plan of Merger by and between Orrstown Financial Services, Inc.
and Hamilton Bancorp, Inc. dated October 23, 2018 (the “Merger Agreement”). The first anniversary of the closing of the transactions contemplated by the Merger Agreement (the “Closing”) shall be the effective
date of this Agreement (the “Effective Date”). 
 BACKGROUND 

The Employer and Executive have entered into that certain Employment Agreement, of even date with the Closing (the “Employment
Agreement”) which is incorporated by reference and made a part of this Agreement. In connection therewith, the Employer and Executive also desire to enter into this Change in Control Agreement to provide certain rights and
benefits to Executive in the event of any change of control of Orrstown occurring after the first anniversary of the Closing. 
 NOW,
THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE I. Term of Agreement 

1.1 Term. This Agreement shall commence on the Effective Date and shall continue for a term of one (1) year;
provided, however, that the term shall automatically extend for additional consecutive one (1)-year periods on each anniversary of the Effective Date unless either party gives written notice of nonrenewal to the other at least sixty
(60) days prior to such anniversary. References in the Agreement to the “Term” shall refer to the initial one-year term of this Agreement and any extensions thereof. 

ARTICLE II. Payments in Connection with a Change in Control. 

2.1 Definitions. 

(a) For purposes of this Agreement, a “Change in Control” shall be deemed to occur if: 

(i) Any person or group of persons acting in concert, shall have acquired ownership of more than 50 percent of the total
fair market value or total voting power of the stock of Orrstown; or 

 (ii) The composition of the Board of Directors of Orrstown shall have
changed such that, during any period of 12 consecutive months during the Term of this Agreement, the majority of such Board is replaced by directors whose appointment or election is not endorsed by a majority of the members of the Board of Directors
of Orrstown, who were in office before the appointment or election; or 
 (iii) Any person or group of persons acting in
concert acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition) ownership of 30 percent or more of the total voting power of the stock of Orrstown; or 

(iv) Any person or group of persons unrelated to Orrstown acting in concert acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition) ownership of a portion of Orrstown’s assets that has a total gross fair market value equal to or more than 40 percent of the total gross
fair market value of all of the assets of Orrstown before the acquisition or acquisitions, with the asset values determined without regard to any liabilities associated with such assets. 

(b) For purposes of Section 2.1(a)(i) and (iii) above, a person shall be deemed to be the beneficial owner of any
shares the person is deemed to own under the stock attribution rules of Section 318(a) of the Internal Revenue Code of 1986, including any amendments thereto or any successor tax codes thereof (the “Code”). 

(c) A “Change in Control Period” shall mean the period commencing 90 days before a Change in Control and
ending two (2) years after such Change in Control. 
 (d) Other capitalized terms herein which are not otherwise
defined, shall have such meaning as defined in the Employment Agreement. 
 2.2 Amount of Payments. Except as provided in
Section 2.2(d), and in lieu of amounts payable under Section 4 of the Employment Agreement, the Employer will pay, or cause to be paid, to Executive the amounts specified in the circumstances below in connection with a Change in Control.

 (a) If Executive’s employment is terminated for any reason by the Employer in connection with a Change in Control
during a Change in Control Period, or by Executive for any reason within six (6) months following such a Change in Control, the Employer will pay, or cause to be paid, to Executive: 

(i) an amount equal to 2.00 times the sum of (A) the Base Salary immediately before the Change in Control and (B) the
highest annual cash bonus and/or other incentive compensation awarded to Executive over the past three (3) years in which cash bonus or other incentive compensation was awarded (all exclusive of any election to defer receipt of compensation
Executive may have made); and 

  
 2 

 (ii) an amount (the “Unvested Company Contribution”) equal
to that portion, if any, of the Employer’s contribution to Executive’s 401(k), profit sharing, deferred compensation or other similar individual account plan which is not vested as of the date of termination of Executive’s employment
(the “Date of Termination”), plus an amount which, when added to the Unvested Company Contribution, would be sufficient after Federal, state and local income taxes (based on the tax returns filed by Executive most recently prior to
the Date of Termination) to enable Executive to net an amount equal to the Unvested Company Contribution; and 
 (iii) the
Employer shall pay Executive up to $10,000 for executive outplacement services utilized by Executive upon the receipt by the Employer of written receipts or other appropriate documentation. 

Except for the payment provided in (iii) above, such payments shall be made in one lump sum within thirty-five (35) days of the Date of Termination
following a Change in Control. 
 (b) Except as provided in Section 2.2(d), if Executive’s employment is terminated
by Employer for any reason in connection with a Change in Control within the Change in Control Period, or by Executive for any reason within six (6) months following a Change in Control, Executive shall continue to be eligible to participate in
the expense reimbursement plan in Section 3.4 of the Employment Agreement and the employee benefit plans referred to in Section 3.2 of the Employment Agreement for a period of two (2) years (continuing to pay the employee portion of
the premium costs for the active plan). Executive shall pay the same percentage of the total cost of coverage under the applicable employee benefit plans as Executive was paying when Executive’s employment terminated. The total cost of
Executive’s continued coverage shall be determined using the same rates for health, life and/or disability coverage that apply from time to time to similarly situated active employees. Notwithstanding the foregoing, if the applicable rules and
regulations under Federal or Pennsylvania law prohibit the Employer from providing Executive with the post-termination group health or other benefits coverage, either directly or through COBRA, or if providing such coverage would subject the
Employer to penalties or excise taxes, then the Employer shall continue to pay to Executive the monthly amount equal to the COBRA premium amount being paid by its former employees who are eligible for such COBRA participation or other benefits
coverage continuation, but the Employer shall not be required to provide Executive with enrollment and participation in the actual plans in which the Employer’s employees are actually enrolled. Notwithstanding the foregoing, in lieu of ongoing
coverage under the group term life insurance program, the Employer shall pay Executive a lump sum payment within thirty-five (35) days after the Date of Termination, in an amount equal to 150% of the Employer’s actual premium cost of
providing group term life insurance coverage to Executive for the three (3) year period following the Date of Termination. In addition, the Employer shall pay to Executive, in a single lump sum within thirty-five (35) days after the Date
of Termination, an aggregate amount equal to two (2) additional years of the Employer retirement plan contributions by the Employer under each tax qualified or nonqualified defined contribution type of retirement plan in which Executive was a
participant 

  
 3 

 
immediately prior to Executive’s termination of employment and equal to the actuarial present value of two (2) additional years of benefit accruals under each tax qualified or
nonqualified defined benefit type of retirement plan in which Executive was a participant immediately prior to Executive’s termination or resignation, calculated in each case as if Executive had continued as a plan participant for the number of
additional years indicated below, Executive’s annual compensation for plan purposes in the most recently completed plan year of each plan continued unchanged through these additional years, and the retirement plans continued to operate
unchanged through the additional years. The actuarial equivalence factors and assumptions generally in use under any defined benefit plan shall be applied in determining lump sum present values of any defined benefit plan additional accruals payable
hereunder. The period of continued health coverage required by Section 4980(B)(f) of the Internal Revenue Code of 1986, as amended (“COBRA”) shall run concurrently with the coverage provided herein. 

(c) Upon the occurrence of a Change of Control, the vesting and exercise rights of all stock options, shares of restricted
stock, and other equity-based compensation units held by Executive pursuant to any stock option plan, stock option agreement, restricted stock agreement, or other long term incentive plan shall be governed by the terms of such plan or agreement, but
in the event the plan or agreement is silent on the subject of change in control, all such options, shares, and units shall immediately become vested and exercisable as to all or any part of the shares and rights covered thereby. 

(d) Executive is to receive no payments under Section 2.2(a) and no benefits under Section 2.2(b) if Executive’s
employment is terminated during a Change in Control Period by the death or “Disability” of Executive or if Executive is terminated during a Change in Control Period for “Cause” (as those terms are defined in
Section 4 of the Employment Agreement). In an instance of death or Disability of the Executive, however, Executive and Executive’s dependents, beneficiaries and estate shall receive any benefits payable to them under the Employment
Agreement. 
 (e) References in this Section 2.2 to “the Employer” shall include the successors of the
Employer, as applicable. 
 (f) If any benefit or payment from the Employer to Executive (whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or otherwise) (a “Payment”) shall be determined to be an “Excess Parachute Payment,” as defined in Section 280G(b)(1) of the Internal Revenue
Code of 1986, as amended (the “Code”), then the aggregate present value of amounts or benefits payable to Executive pursuant to this Agreement (“Agreement Payments”) shall be reduced (but not below zero) to the
Reduced Amount. The “Reduced Amount” shall be the greater of (i) the highest aggregate present value of Agreement Payments that can be paid without causing any payments or benefits hereunder to be an Excess Parachute Payment or
(ii) the largest portion, up to and including the total, of the Agreement Payments that after taking into account all applicable state and federal taxes (computed at the highest applicable marginal rate) including any taxes payable

  
 4 

 
pursuant to Section 4999 of the Code, results in a greater after-tax benefit to Executive than the after-tax
benefit to Executive of the amount calculated under (i) hereof (computed at the highest applicable marginal rate). For purposes of this Section 2.2, present value shall be determined in accordance with Section 280G(d)(4) of the Code.

 2.3 Revisions of Restrictive Covenants. If Executive’s employment is terminated in connection with a Change in Control, the
“Restricted Period” under Section 5.3 of the Employment Agreement shall be revised automatically to equal the greater of six (6) months or the period extending from the Date of Termination to the first anniversary of the
Change in Control. 
 2.4 Transition Services. For one (1) year following termination of employment after any Change in Control,
Executive agrees to remain available to provide the Employer with transition assistance on matters with which Executive was involved during his employment. Executive shall render such assistance in a timely manner on reasonable notice from the
Employer. Executive shall not be entitled to any separate compensation for the services described in this paragraph (other than reimbursement for reasonable out of pocket expenses actually incurred). The Employer agrees to provide reasonable advance
notice of the need for Executive’s assistance and shall exercise reasonable efforts to schedule and limit such matters so as to avoid interfering with Executive’s personal and other professional obligations. 

ARTICLE III. Miscellaneous. 

3.1 Invalidity. If any provision hereof is determined to be invalid or unenforceable by a court of competent jurisdiction, Executive
shall negotiate in good faith to provide the Employer with protection as nearly equivalent to that found to be invalid or unenforceable and if any such provision shall be so determined to be invalid or unenforceable by reason of the duration or
geographical scope of the covenants contained therein, such duration or geographical scope, or both, shall be considered to be reduced to a duration or geographical scope to the extent necessary to cure such invalidity. 

3.2 Assignment: Benefit. This Agreement shall not be assignable by Executive, and shall be assignable by the Employer only to any
affiliate or to any person or entity which may become a successor in interest (by purchase of assets or stock, or by merger, or otherwise) to the Employer in the business or a portion of the business presently operated by it. Subject to the
foregoing, this Agreement and the rights and obligations set forth herein shall inure to the benefit of, and be binding upon, the parties hereto and each of their respective permitted successors, assigns, heirs, executors and administrators,
including the restrictive covenants of this Agreement. 
 3.3 Notices. All notices hereunder shall be in writing and shall be
sufficiently given if hand-delivered, sent by documented overnight delivery service or registered or certified mail, postage prepaid, return receipt requested or by telegram, fax or telecopy (confirmed by U.S. mail), receipt acknowledged, addressed
as set forth below or to such other person and/or at such other address as may be furnished in writing by any party hereto to the other. Any such notice shall be deemed to have been given as of the date received, in the case of personal delivery, or
on the date shown on the receipt or confirmation therefor, in all other cases. Any and all service of 

  
 5 

 
process and any other notice in any such action, suit or proceeding shall be effective against any party if given as provided in this Agreement; provided that nothing herein shall be deemed to
affect the right of any party to serve process in any other manner permitted by law. 
  

	 	(a)	 If to the Employer: 

Orrstown Bank 
 77 East King
Street 
 Shippensburg, PA 17257 

Attention: Director of Human Resources 
  

	 	(b)	 If to Executive: 

Ms. Ellen Fish 
 Most
Recent Address on File with the Bank 
 3.4 Entire Agreement and Modification. This Agreement and the Employment Agreement constitute
the entire agreement between the parties hereto with respect to the matters contemplated herein and therein and supersedes all prior agreements and understandings with respect thereto. Any amendment, modification, or waiver of this Agreement shall
not be effective unless in writing and agreed and executed by the Employer and Executive. Neither the failure nor any delay on the part of any party to exercise any right, remedy, power or privilege shall preclude any other or further exercise of
the same or of any other right, remedy, power, or privilege with respect to any occurrence and such failure or delay to exercise any right shall be construed as a waiver of any right, remedy, power, or privilege with respect to any other occurrence.

 3.5 Governing Law, Forum. This Agreement is made pursuant to, and shall be construed and enforced in accordance with, the laws of
the Commonwealth of Pennsylvania (and United States federal law, to the extent applicable), without giving effect to otherwise applicable principles of conflicts of law. All actions hereunder shall be filed in the appropriate courts located in
Cumberland and Franklin Counties, Pennsylvania and Executive consents to venue and jurisdiction therein. 
 3.6 Headings;
Counterparts. The headings of sections and subsections in this Agreement are for convenience only and shall not affect its interpretation. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an
original and all of which, when taken together, shall be deemed to constitute but one and the same Agreement. 
 3.7 Further
Assurances. Each of the parties hereto shall execute such further instruments and take such other actions as any other party shall reasonably request in order to effectuate the purposes of this Agreement. 

3.8 Attorneys’ Fees and Related Expenses. All reasonable attorneys’ fees and related expenses incurred by Executive in
connection with or relating to the review and negotiation of this Agreement or, if Executive prevails in connection with enforcing Executive’s rights under this Agreement, the enforcement by Executive of Executive’s rights under this
Agreement, shall be paid in full by the Employer. 

  
 6 

 3.9 Mitigation. Executive shall not be required to mitigate the amount of any payment
or benefit provided for herein by seeking employment or otherwise shall not be entitled to set-off against the amount of any payments made pursuant hereto with respect to any compensation earned by Executive
arising from other employment. 
 3.10 Indemnification. Except to the extent inconsistent with the Employer’s certificate of
incorporation or bylaws, the Employer will indemnify Executive and hold Executive harmless to the fullest extent permitted by law with respect to Executive’s service as an officer and employee of the Employer and its subsidiaries, which
indemnification shall be provided following termination of employment for so long as Executive may have liability with respect to Executive’s service as an officer or employee of the Employer and its subsidiaries. Executive will be covered by a
directors’ and officers’ insurance policy with respect to Executive’s acts as an officer to the same extent as all other officers of the Employer under such policies. 

3.11 409A Safe Harbor. Notwithstanding anything in this Agreement to the contrary, in no event shall the Employer be obligated to
commence payment or distribution to Executive of any amount that constitutes nonqualified deferred compensation within the meaning of Code Section 409A (“Section 409A”) earlier than the earliest permissible
date under Section 409A that such amount could be paid without additional taxes or interest being imposed under Section 409A. The Employer and Executive agree that they will execute any and all amendments to this Agreement as they mutually
agree in good faith may be necessary to ensure compliance with the distribution provisions of Section 409A and to cause any and all amounts due under this Agreement, the payment or distribution of which is delayed pursuant to Section 409A,
to be paid or distributed in a single sum payment at the earliest permissible date under Section 409A. Without limiting the generality of the foregoing, in the event Executive is to receive a payment of compensation hereunder that is on account
of a separation from service, such payment is subject to the provisions of Section 409A, and Executive is a key employee of the Employer, then payment shall not be made before the date that is six months after the date of separation from
service (or, if earlier than the end of the six month period, the date of Executive’s death). Amounts otherwise payable during such six month payment shall be accumulated and paid in a lump sum on the first day of the seventh month. For
purposes hereof, Executive is a key employee of the Employer if, on his date of separation from service, the Employer is publicly traded and he met the definition key employee found in Code Section 416(i)(1)(A)(i), (ii) or (iii) (disregarding
Section 416(i)(5)) as of the last day of the calendar year preceding the date of separation. 
 3.12 Release. Notwithstanding any
other provision of this Agreement, any severance or termination payments or benefits described are conditioned on Executive’s execution and delivery to the Employer of an effective general release and
non-disparagement agreement in a form prescribed by the Employer in substantial conformity with such agreement attached as Annex A to the Employment Agreement and in a manner consistent with the requirements
of the Older Workers Benefit Protection Act and any applicable state law. Such payments will commence following the date the release becomes effective. 

3.13 Taxes and Withholdings. All amount paid to Executive under this Agreement during for following the Employment Period shall be
subject to withholding and other employment taxes imposed by applicable law. Executive shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits paid to Executive hereunder or otherwise.

  
 7 

 3.14 Other Rights. Nothing in this Agreement is intended to limit Executive’s
right to (a) payment or reimbursement for welfare benefit claims incurred prior to the cessation of his/her employment under any group insurance plan, policy or arrangement of the Employer in accordance with the terms of such plan, policy or
arrangement (b) elect COBRA benefits in accordance with the applicable law, or (c) receive a distribution of vested accrued benefits from any employee pension benefit plan in accordance with the terms of that plan. 

3.15 Survival. Notwithstanding anything to the contrary in this Agreement, the parties agree that Executive’s obligations under
Section 2.3 of this Agreement shall continue despite the expiration of the term of this Agreement or its termination. 
 3.16
Regulatory Limitations. Notwithstanding anything herein contained to the contrary, any payments to Executive by the Employer, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with
Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(k) and FDIC regulation 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments. 

[Signature page follows] 

  
 8 

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

			
	Name: Ellen Fish (“Executive”)
	
	 /s/ Ellen Fish

Signature

	
	ORRSTOWN FINANCIAL CORPORATION (“Orrstown”)
		
	By:	 	 /s/ Thomas R. Quinn, Jr.

	Name:	 	Thomas R. Quinn, Jr.
	Title:	 	President & Chief Executive Officer
	
	ORRSTOWN BANK (the “Bank”)
		
	By:	 	 /s/ Thomas R. Quinn, Jr.

	Name:	 	Thomas R. Quinn, Jr.
	Title:	 	President & Chief Executive Officer

 [Signature Page to Change in Control Agreement]

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