Document:

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                                                                   Exhibit 10.56

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED
WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION
OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH
REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE
APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE
PROVISIONS OF SECTION 7 OF THIS WARRANT.

                         EASYLINK SERVICES CORPORATION

                       WARRANT TO PURCHASE 663,162 SHARES
                             OF CLASS A COMMON STOCK

         THIS CERTIFIES THAT, for value received, FLEET BUSINESS CREDIT, LLC and
its assignees are entitled to subscribe for and purchase 663,162 shares (as
adjusted pursuant to Section 4 hereof, the "Shares") of the fully paid and
nonassessable Class A Common Stock, par value $.01 per share ("Common Stock"),
of EASYLINK SERVICES CORPORATION, a Delaware corporation (the "Company"), at the
price of $0.61 per share (such price and such other price as shall result, from
time to time, from the adjustments specified in Section 4 hereof is herein
referred to as the "Warrant Price"), subject to the provisions and upon the
terms and conditions hereinafter set forth. As used herein, (a) the term "Date
of Grant" shall mean November 27, 2001, and (b) the term "Other Warrants" shall
mean any other warrants issued by the Company in connection with the transaction
with respect to which this Warrant was issued, and any warrant issued upon
transfer or partial exercise of or in lieu of this Warrant. The term "Warrant"
as used herein shall be deemed to include Other Warrants unless the context
clearly requires otherwise.

         1.       Term. The purchase right represented by this Warrant is
exercisable, in whole or in part, at any time and from time to time from the
Date of Grant through ten (10) years after the Date of Grant.

         2.       Method of Exercise; Payment; Issuance of New Warrant. Subject
to Section 1 hereof, the purchase right represented by this Warrant may be
exercised by the holder hereof, in whole or in part and from time to time, at
the election of the holder hereof, by (a) the surrender of this Warrant (with
the notice of exercise substantially in the form attached hereto as Exhibit A-1
duly completed and executed) at the principal office of the Company and by the
payment to the Company, by certified or bank check, or by wire transfer to an
account designated by the Company (a "Wire Transfer") of an amount equal to the
then applicable Warrant Price multiplied by the number of Shares then being
purchased; or (b) exercise of the "net issuance" right provided for in Section
10.2 hereof. The person or persons in whose name(s) any certificate(s)
representing the Shares shall be issuable upon exercise of this Warrant shall be
deemed to have become the holder(s) of record of, and shall be treated for all
purposes as the record holder(s) of, the shares represented thereby (and such
shares shall be deemed to have been issued) immediately prior to the close of
business on the date or dates upon which this Warrant is exercised. In the event
of any exercise of the rights represented by this Warrant, certificates for the
shares of stock so purchased shall be delivered to the holder hereof as soon as
possible and in any event within thirty (30) days after such exercise and,
unless this Warrant has been fully exercised or expired, a new Warrant
representing the portion of the Shares, if any, with respect to which this
Warrant shall not then have been exercised shall also be issued to the holder
hereof as soon as possible and in any event within such thirty-day period;
provided, however, if requested by the holder of this Warrant, the Company shall
cause its transfer agent to deliver the certificate representing Shares issued
upon exercise of this Warrant to a broker or other person (as directed by the
holder exercising this Warrant) within the time period required to settle any
trade made by the holder after exercise of this Warrant.

<PAGE>

         3.       Stock Fully Paid; Reservation of Shares. All Shares that may
be issued upon the exercise of the rights represented by this Warrant will, upon
issuance pursuant to the terms and conditions herein, be fully paid and
nonassessable, and free from all preemptive rights and taxes, liens and charges
with respect to the issue thereof. During the period within which the rights
represented by this Warrant may be exercised, the Company will at all times have
authorized, and reserved for the purpose of the issue upon exercise of the
purchase rights evidenced by this Warrant, a sufficient number of shares of its
Common Stock to provide for the exercise of the rights represented by this
Warrant.

         4.       Adjustment of Warrant Price and Number of Shares. The number
and kind of securities purchasable upon the exercise of this Warrant and the
Warrant Price shall be subject to adjustment from time to time upon the
occurrence of certain events, as follows:

                  (a)      Reclassification or Merger. In case of any
reclassification or change of securities of the class issuable upon exercise of
this Warrant (other than a change in par value, or from par value to no par
value, or from no par value to par value, or as a result of a subdivision or
combination), or in case of any merger of the Company with or into another
corporation (other than a merger with another corporation in which the Company
is the acquiring and the surviving corporation and which does not result in any
reclassification or change of outstanding securities issuable upon exercise of
this Warrant), or in case of any sale of all or substantially all of the assets
of the Company, the Company, or such successor or purchasing corporation, as the
case may be, shall duly execute and deliver to the holder of this Warrant a new
Warrant (in form and substance satisfactory to the holder of this Warrant), or
the Company shall make appropriate provision without the issuance of a new
Warrant, so that the holder of this Warrant shall have the right to receive upon
exercise of this Warrant, at a total purchase price not to exceed that payable
upon the exercise of the unexercised portion of this Warrant, and in lieu of the
shares of Common Stock theretofore issuable upon exercise of this Warrant, the
kind and amount of shares of stock, other securities, money and property
receivable upon such reclassification, change, merger or sale by a holder of the
number of shares of Common Stock then purchasable under this Warrant. Any new
Warrant shall provide for adjustments that shall be as nearly equivalent as may
be practicable to the adjustments provided for in this Section 4. The provisions
of this Section 4(a) shall similarly apply to successive reclassifications,
changes, mergers and sales.

                                      -2-
<PAGE>

                  (b)      Subdivision or Combination of Shares. If the Company
at any time while this Warrant remains outstanding and unexpired shall subdivide
or combine its outstanding shares of Common Stock, the Warrant Price shall be
proportionately decreased and the number of Shares issuable hereunder shall be
proportionately increased in the case of a subdivision and the Warrant Price
shall be proportionately increased and the number of Shares issuable hereunder
shall be proportionately decreased in the case of a combination.

                  (c)      Stock Dividends and Other Distributions. If the
Company at any time while this Warrant is outstanding and unexpired shall (i)
pay a dividend with respect to its Common Stock payable in Common Stock, then
the Warrant Price shall be adjusted, from and after the date of determination of
shareholders entitled to receive such dividend or distribution, to that price
determined by multiplying the Warrant Price in effect immediately prior to such
date of determination by a fraction (A) the numerator of which shall be the
total number of shares of Common Stock outstanding immediately prior to such
dividend or distribution, and (B) the denominator of which shall be the total
number of shares of Common Stock outstanding immediately after such dividend or
distribution; or (ii) make any other distribution with respect to Common Stock
(except any distribution specifically provided for in Sections 4(a) and 4(b) and
other than ordinary cash dividends declared by the board of directors pursuant
to a regular dividend program adopted by the board of directors), then, in each
such case, provision shall be made by the Company such that the holder of this
Warrant shall receive upon exercise of this Warrant a proportionate share of any
such dividend or distribution as though it were the holder of the Shares as of
the record date fixed for the determination of the shareholders of the Company
entitled to receive such dividend or distribution.

                  (d)      Adjustment of Number of Shares. Upon each adjustment
in the Warrant Price, the number of Shares purchasable hereunder shall be
adjusted, to the nearest whole share, to the product obtained by multiplying the
number of Shares purchasable immediately prior to such adjustment in the Warrant
Price by a fraction, the numerator of which shall be the Warrant Price
immediately prior to such adjustment and the denominator of which shall be the
Warrant Price immediately thereafter.

         5.       Notice of Adjustments. Whenever the Warrant Price or the
number of Shares purchasable hereunder shall be adjusted pursuant to Section 4
hereof, the Company shall make a certificate signed by its chief financial
officer setting forth, in reasonable detail, the event requiring the adjustment,
the amount of the adjustment, the method by which such adjustment was
calculated, and the Warrant Price and the number of Shares purchasable hereunder
after giving effect to such adjustment, and shall cause copies of such
certificate to be mailed (without regard to Section 13 hereof, by first class
mail, postage prepaid) to the holder of this Warrant.

         6.       Fractional Shares. No fractional shares of Common Stock will
be issued in connection with any exercise hereunder, but in lieu of such
fractional shares the Company shall make a cash payment therefor based on the
fair market value of the Common Stock on the date of exercise as reasonably
determined in good faith by the Company's Board of Directors.

         7.       Rights as Shareholders; Information. No holder of this
Warrant, as such, shall be entitled to vote or receive dividends or be deemed
the holder of Common Stock which may at any time be issuable upon the exercise
hereof for any purpose, nor shall anything contained herein be construed to
confer upon the holder of this Warrant, as such, any of the rights of a
shareholder of the Company or any right to vote for the election of directors or
upon any matter submitted to shareholders at any meeting thereof, or to receive
notice of meetings, or to receive dividends or subscription rights or otherwise
until this Warrant shall have been exercised and the Shares purchasable upon the
exercise hereof shall have become deliverable, as provided herein.
Notwithstanding the foregoing, the Company will transmit to the holder of this
Warrant such information, documents and reports as are generally distributed to
the holders of any class or series of the securities of the Company concurrently
with the distribution thereof to the shareholders.

                                      -3-
<PAGE>

         8.       Registration Rights. The Shares purchasable hereunder have
certain registration rights pursuant to the Registration Rights Agreement dated
as of the date on which the Warrant is issued.

         9.       Additional Rights.

         9.1      Acquisition Transactions. The Company shall provide the holder
of this Warrant with at least twenty (20) days' written notice prior to closing
thereof of the terms and conditions of any of the following transactions (to the
extent the Company has notice thereof): (i) the sale, lease, exchange,
conveyance or other disposition of all or substantially all of the Company's
property or business, or (ii) its merger into or consolidation with any other
corporation (other than a wholly-owned subsidiary of the Company), or any
transaction (including a merger or other reorganization) or series of related
transactions, in which more than 50% of the voting power of the Company is
disposed of.

         9.2      Right to Convert Warrant into Stock: Net Issuance.

                  (a)      Right to Convert. In addition to and without limiting
the rights of the holder under the terms of this Warrant, the holder shall have
the right to convert this Warrant or any portion thereof (the "Conversion
Right") into shares of Common Stock as provided in this Section 9.2 at any time
or from time to time during the term of this Warrant. Upon exercise of the
Conversion Right with respect to a particular number of shares subject to this
Warrant (the "Converted Warrant Shares"), the Company shall deliver to the
holder (without payment by the holder of any exercise price or any cash or other
consideration) that number of shares of fully paid and nonassessable Common
Stock as is determined according to the following formula:

         X = B - A
             -----
               Y

         Where:  X =       the number of shares of Common Stock that shall be
                           issued to holder

                 Y =       the fair market value of one share of Common Stock

                 A =       the aggregate Warrant Price of the specified number
                           of Converted Warrant Shares immediately prior to the
                           exercise of the Conversion Right (i.e., the number of
                           Converted Warrant Shares multiplied by the Warrant
                           Price)

                 B =       the aggregate fair market value of the specified
                           number of Converted Warrant Shares (i.e., the number
                           of Converted Warrant Shares multiplied by the fair
                           market value of one Converted Warrant Share)

                                      -4-
<PAGE>

         No fractional shares shall be issuable upon exercise of the Conversion
Right, and, if the number of shares to be issued determined in accordance with
the foregoing formula is other than a whole number, the Company shall pay to the
holder an amount in cash equal to the fair market value of the resulting
fractional share on the Conversion Date (as hereinafter defined). For purposes
of Section 9 of this Warrant, shares issued pursuant to the Conversion Right
shall be treated as if they were issued upon the exercise of this Warrant.

                  (b)      Method of Exercise. The Conversion Right may be
exercised by the holder by the surrender of this Warrant at the principal office
of the Company together with a written statement (which may be in the form of
Exhibit A-1) specifying that the holder thereby intends to exercise the
Conversion Right and indicating the number of shares subject to this Warrant
which are being surrendered (referred to in Section 9.2(a) hereof as the
Converted Warrant Shares) in exercise of the Conversion Right. Such conversion
shall be effective upon receipt by the Company of this Warrant together with the
aforesaid written statement, or on such later date as is specified therein (the
"Conversion Date"). Certificates for the shares issuable upon exercise of the
Conversion Right and, if applicable, a new warrant evidencing the balance of the
shares remaining subject to this Warrant, shall be issued as of the Conversion
Date and shall be delivered to the holder within thirty (30) days following the
Conversion Date.

                  (c)      Determination of Fair Market Value. For purposes of
this Section 9.2, "fair market value" of a share of Common Stock as of a
particular date (the "Determination Date") shall mean:

                           (i)      If traded on a securities exchange, the fair
market value of the Common Stock shall be deemed to be the average of the
closing prices of the Common Stock on such exchange over the five trading days
immediately prior to the Determination Date;

                           (ii)     If traded on the Nasdaq Stock Market or
other over-the-counter system, the fair market value of the Common Stock shall
be deemed to be the average of the closing sale prices, or if there shall be no
closing sale price on any day the average of the closing bid and ask prices for
such day, of the Common Stock over the five trading days immediately prior to
the Determination Date; and

                           (iii)    If there is no public market for the Common
Stock, then fair market value shall be determined by mutual agreement of the
holder of this Warrant and the Company.

If closing prices or closing bid and ask prices are no longer reported by a
securities exchange or other trading system, the closing price or closing bid
and ask prices shall be that which is reported by such securities exchange or
other trading system at 4:00 p.m. New York City time on the applicable trading
day.

         9.3      Exercise Prior to Expiration. To the extent this Warrant is
not previously exercised as to all of the Shares subject hereto, and if the fair
market value of one share of the Common Stock is greater than the Warrant Price
then in effect, this Warrant shall be deemed automatically exercised pursuant to
Section 9.2 above (even if not surrendered) immediately before its expiration.
To the extent this Warrant or any portion thereof is deemed automatically
exercised pursuant to this Section 9.3, the Company agrees to promptly notify
the holder hereof of the number of Shares, if any, the holder hereof is to
receive by reason of such automatic exercise.

                                      -5-
<PAGE>

         10.      Representations and Warranties. The Company represents and
warrants to the holder of this Warrant as follows:

                  (a)      This Warrant has been duly authorized and executed by
the Company and is a valid and binding obligation of the Company enforceable in
accordance with its terms, subject to laws of general application relating to
bankruptcy, insolvency and the relief of debtors and the rules of law or
principles at equity governing specific performance, injunctive relief and other
equitable remedies.

                  (b)      The Shares have been duly authorized and reserved for
issuance by the Company and, when issued in accordance with the terms hereof,
will be validly issued, fully paid and nonassessable and free from preemptive
rights.

                  (c)      The rights, preferences, privileges and restrictions
granted to or imposed upon the classes and series of the Company's capital stock
and the holders thereof are as set forth in the Certificate of Incorporation
("Articles").

                  (d)      The execution and delivery of this Warrant are not,
and the issuance of the Shares upon exercise of this Warrant in accordance with
the terms hereof will not be, inconsistent with the Company's Articles or
by-laws, do not and will not contravene any law, governmental rule or
regulation, judgment or order applicable to the Company, and do not and will not
conflict with or contravene any provision of, or constitute a default under, any
indenture, mortgage, contract or other instrument of which the Company is a
party or by which it is bound or require the consent or approval of, the giving
of notice to, the registration or filing with or the taking of any action in
respect of or by, any Federal, state or local government authority or agency or
other person, except for the filing of notices pursuant to federal and state
securities laws, which filings will be effected by the time required thereby.

                  (e)      There are no actions, suits, audits, investigations
or proceedings pending or, to the knowledge of the Company, threatened against
the Company in any court or before any governmental commission, board or
authority which, if adversely determined, could have a material adverse effect
on the ability of the Company to perform its obligations under this Warrant.

                  (f)      The number of shares of Common Stock of the Company
outstanding on the date hereof, on a fully diluted basis (assuming the
conversion or exchange of all outstanding convertible or exchangeable securities
and the exercise of all outstanding options and warrants), does not exceed
250,000,000 shares.

         11.      Modification and Waiver. This Warrant and any provision hereof
may be changed, waived, discharged or terminated only by an instrument in
writing signed by the party against which enforcement of the same is sought.

                                      -6-
<PAGE>

         12.      Notices. Any notice, request, communication or other document
required or permitted to be given or delivered to the holder hereof or the
Company shall be delivered, or shall be sent by certified or registered mail,
postage prepaid, to each such holder at its address as shown on the books of the
Company or to the Company at the address indicated therefor on the signature
page of this Warrant.

         13.      Binding Effect on Successors. This Warrant shall be binding
upon any corporation succeeding the Company by merger, consolidation or
acquisition of all or substantially all of the Company's assets, and all of the
obligations of the Company relating to the Shares issuable upon the exercise or
conversion of this Warrant shall survive the exercise, conversion and
termination of this Warrant and all of the covenants and agreements of the
Company shall inure to the benefit of the successors and assigns of the holder
hereof.

         14.      Lost Warrants or Stock Certificates. The Company covenants to
the holder hereof that, upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant or any
stock certificate and, in the case of any such loss, theft or destruction, upon
receipt of an indemnity reasonably satisfactory to the Company, or in the case
of any such mutilation upon surrender and cancellation of such Warrant or stock
certificate, the Company will make and deliver a new Warrant or stock
certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated
Warrant or stock certificate.

         15.      Descriptive Headings. The descriptive headings of the various
Sections of this Warrant are inserted for convenience only and do not constitute
a part of this Warrant. The language in this Warrant shall be construed as to
its fair meaning without regard to which party drafted this Warrant.

         16.      Governing Law. This Warrant shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the laws of
the State of New York.

         17.      Survival of Representations, Warranties and Agreements. All
representations and warranties of the Company and the holder hereof contained
herein shall survive the Date of Grant, the exercise or conversion of this
Warrant (or any part hereof) or the termination or expiration of rights
hereunder. All agreements of the Company and the holder hereof contained herein
shall survive indefinitely until, by their respective terms, they are no longer
operative.

         18.      Remedies. In case any one or more of the covenants and
agreements contained in this Warrant shall have been breached, the holders
hereof (in the case of a breach by the Company), or the Company (in the case of
a breach by a holder), may proceed to protect and enforce their or its rights
either by suit in equity and/or by action at law, including, but not limited to,
an action for damages as a result of any such breach and/or an action for
specific performance of any such covenant or agreement contained in this
Warrant.

         19.      No Impairment of Rights. The Company will not, by amendment of
its Articles or through any other means, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such action as may be necessary or appropriate in order to protect the rights of
the holder of this Warrant against impairment.

                                      -7-
<PAGE>

         20.      Severability. The invalidity or unenforceability of any
provision of this Warrant in any jurisdiction shall not affect the validity or
enforceability of such provision in any other jurisdiction, or affect any other
provision of this Warrant, which shall remain in full force and effect.

         21.      Recovery of Litigation Costs. If any legal action or other
proceeding is brought for the enforcement of this Warrant, or because of an
alleged dispute, breach, default, or misrepresentation in connection with any of
the provisions of this Warrant, the successful or prevailing party or parties
shall be entitled to recover reasonable attorneys' fees and other costs incurred
in that action or proceeding, in addition to any other relief to which it or
they may be entitled.

         22.      Entire Agreement; Modification. This Warrant constitutes the
entire agreement between the parties pertaining to the subject matter contained
in it and supersedes all prior and contemporaneous agreements, representations,
and undertakings of the parties, whether oral or written, with respect to such
subject matter.

         The Company has caused this Warrant to be duly executed and delivered
as of the Date of Grant specified above.

                                    EASYLINK SERVICES CORPORATION

                                    By s/ Gerald Gorman
                                       -----------------------------------------
                                                Gerald Gorman, Chairman

                                    Address:  EasyLink Services Corporation
                                              399 Thornall Street
                                              Edison, NJ 08837
                                              Attention: Chief Executive Officer

                                      -8-
<PAGE>

                                   EXHIBIT A-1

                               NOTICE OF EXERCISE

To:      EasyLink Services Corporation (the "Company")

         1.       The undersigned hereby:

                  |_|      elects to purchase________ shares of Common Stock of
                           the Company pursuant to the terms of the attached
                           Warrant, and tenders herewith payment of the purchase
                           price of such shares in full, or

                  |_|      elects to exercise its net issuance rights pursuant
                           to Section 10.2 of the attached Warrant with respect
                           to________shares of Common Stock.

         2.       Please issue a certificate or certificates representing
________ shares in the name of the undersigned or in such other name or names as
are specified below:

                 ---------------------------------------------
                                     (Name)

                 ---------------------------------------------

                 ---------------------------------------------
                                    (Address)

         3.       The undersigned represents that the aforesaid shares are being
acquired for the account of the undersigned for investment and not with a view
to, or for resale in connection with, the distribution thereof and that the
undersigned has no present intention of distributing or reselling such shares,
all except as in compliance with applicable securities laws.

                                   ---------------------------------------------
                                   (Signature)

-----------------
     (Date)EXHIBIT 10.2

                          SALARY CONTINUATION AGREEMENT

This Agreement is entered into this first day of January, 1987, between
QUAKERTOWN NATIONAL BANK, 3rd & W. Broad Streets, Box 759, Quakertown,
Pennsylvania 18951 (herein referred to as the "Employer") and Thomas J. Bisko, 9
Clover Lane, RD #5, Quakertown, Pennsylvania 18951 (herein referred to as the
"Employee").

                                   WITNESSETH

         WHEREAS, the Employee is currently employed by the Employer in the
capacity of Officer; and

         WHEREAS, the Employer recognized that the competent and faithful
efforts of the Employee on behalf of the Employer have contributed significantly
to the success and growth of the Employer; and

         WHEREAS, the Employer values the efforts, abilities and accomplishments
of the Employee and recognizes that his services are vital to its continued
growth and profits in the future; and

         WHEREAS, the Employer desires to retain the Employee's valuable
services and business counsel and to induce the Employee to remain in his
executive capacity with the Employer.

         WHEREAS, the Employee, in consideration of the foregoing, agrees to
continue to serve in his executive capacity,

         NOW, THEREFORE, it is mutually agreed as follows:

         1.   Death benefit for Employee's Beneficiary. At the time of the
              Employee's death, his beneficiary (ies) designated in writing to
              the Employer, will receive the amount of monthly income indicated
              in the following schedule for 180 consecutive months commencing
              within 60 days of the date of death:

                                                  Monthly Income to Beneficiary
                        If Death Occurs             For 180 Consecutive Months
               ----------------------------   ----------------------------------

         January 1, 1987 thru December 31, 1995                        $3,841.25
         January 1, 1996 thru December 31, 2005                         4,245.00
         January 1, 2006 thru December 31, 2015                         4,069.42
         January 1, 2016 thru December 31, 2020                         5,278.33
         After December 31, 2020                                        6,625.75

         2. Term of Employment. The benefits stated in paragraph "1" will be
paid while the Employee remains in the employ of the Employer. If the Employee's
services are terminated for any reason other than death, all of the Employee's
rights under this agreement will be terminated and the agreement will become
null and void.

                                       1

<page>

         3. Suicide. No payments will be made to the Employee's beneficiary(ies)
or to his estate in the event of death by suicide during the first 30 months of
this agreement.

         4. Status of Agreement. This agreement does not constitute a contract
of employment between the parties, nor shall any provision of this agreement
restrict the right of the Employer to replace the executive or the right of the
Employee to terminate his service.

         5. Binding Effect. This agreement shall be binding upon the parties
hereto and upon the successors and assigns of the Employer, and upon the heirs
and legal representatives of the Employee.

         6. Interruption of Service. The service of the Employee shall not be
deemed to have been terminated or interrupted due to his absence from active
service on account of illness, disability, during any authorized vacation or
during temporary leaves of absence granted by the Employer for reasons of
professional advancement, education, health or government service, or during
military leave for any period if the Employee continues to serve in an executive
capacity following such interruption.

         7. Forfeiture of Compensation by Competition. The Employee agrees that
all rights to compensation following age 65 shall be forfeited by him if he
engages in competition with the Employer, without the prior written consent of
the Employer, within a radius of 50 miles of the main office of the Employer for
a period of ten years, coinciding with the number of years that the Employee
shall receive such compensation.

         8. Assignment of Rights. None of the rights to compensation under this
Agreement are assignable by the Employee or any beneficiary or designee of the
Employee and any attempt to anticipate, sell, transfer, assign, pledge, encumber
or change Employee's right to receive compensation, shall be void.

         9. Status of Employee's Rights. The rights granted to the Employee or
any designee or beneficiary under this agreement shall be solely those of an
unsecured creditor of the Employer.

         10. Amendments. This Agreement may be amended only by a written
Agreement signed by the parties.

         11. If the Employer shall acquire an insurance policy or any other
asset in connection with the liabilities assumed by it hereunder, it is
expressly understood and agreed that neither Employee nor any beneficiary of
Employee shall have any right with respect to, or claim against, such policy or
other asset except as expressly provided by the terms of such policy or in the
title to such other asset. Such policy or asset shall not be deemed to be held
under any trust for the benefit of the Employee or his beneficiaries or to be
held in any way as collateral security for the fulfilling of the obligations of
the Employer under this Agreement except as may be expressly provided by the
terms of such policy or other asset. It shall be, and remain, a general,
unpledged, unrestricted asset of the Employer.

         12. This Agreement shall be construed under and governed by the laws of
the State of Pennsylvania.

         13. Interpretation. Wherever appropriate in this Agreement, words used
in the singular shall include the plural and the masculine shall include the
feminine gender.

         14. This Agreement shall be binding upon and inure to the benefit of
any successor of QNB Corp. and any such successor shall be deemed substituted
for QNB Corp. under the terms of this Agreement. As used herein, the term

                                       2

<page>

"successor" shall include any person, corporation or other business entity which
at any time, whether by merger, purchase or otherwise, acquires all of the
stock, assets or business of QNB Corp.

IN WITNESS HEREOF, the parties have signed this Agreement the day and year above
written.

                                          QUAKERTOWN NATIONAL BANK

                                          BY       /s/ Philip D. Miller
                                             -----------------------------------
                                                       Philip D. Miller

         /s/ Donald T. Knauss                      /s/ Thomas J. Bisko
------------------------------------         -----------------------------------
             Donald T. Knauss                          Thomas J. Bisko

                             BENEFICIARY DESIGNATION

                                          Date  May 26, 1987
                                               ---------------------

         Pursuant to Paragraph "1" of the Salary Continuation Agreement between
QUAKERTOWN NATIONAL BANK AND THOMAS J. BISKO, OFFICER, dated January 1, 1987 the
undersigned hereby requests that any death benefits payable under the provisions
of said agreement be payable to:

                                 Barbara M. Bisko

                                                                          (SEAL)
         /s/ Philip D. Miller                       /s/ Thomas J. Bisko
------------------------------------         -----------------------------------
              Philip D. Miller                          Thomas J. Bisko

                  WITNESS

                                       3

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