Document:

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                                                                   Exhibit 10(v)
                                                                   -------------

               Amended Servicing Agreement dated September 1, 2000
      Between Boston Service Company, Inc. t/a Hann Financial Service Corp.
                    and Auto Lenders Liquidation Center, Inc.
<PAGE>

                           AMENDED SERVICING AGREEMENT

     THIS AMENDED SERVICING AGREEMENT is made this 1st day of September, 2000 by
and between AUTO LENDERS LIQUIDATION CENTER, INC. (hereinafter referred to as
"Auto Lenders"), a New Jersey corporation having its principal office at 1051
North Black Horse Pike, Williamstown, New Jersey 08094, and BOSTON SERVICE
COMPANY, INC. trading as HANN FINANCIAL SERVICE CORP. (hereinafter referred to
as "BSC"), a New Jersey corporation, having its principal office at One Centre
Drive, Jamesburg, New Jersey 08831.

                                   BACKGROUND

     Auto Lenders is in the business of providing service to lenders who receive
motor vehicles upon termination of lease contracts or upon repossession under
installment sales contracts. Auto Lenders will recondition the vehicles and sell
or lease them to the general public or will sell them directly at auction (the
"Service"). The Service allows lenders to maximize potential remarketing or
resale gains and to minimize potential remarketing or resale losses. BSC desires
to engage Auto Lenders to provide the Service to BSC on an exclusive basis. Auto
Lenders initially agreed to provide the Service to BSC pursuant to the terms and
conditions of a Servicing Agreement between the parties dated February 1, 2000.

     BSC also wishes to extend its retail automobile leasing program
("Program"), whereby it purchases leases from automobile dealers, services the
leases and arranges for disposal of the leased motor vehicles pursuant to a
Servicing Agreement with Auto Lenders, to include the sale of such leases to
lenders who participate in the Program on terms which will provide that Auto
Lenders will provide the lender with a guaranty of the residual value of the
motor vehicle as contained in the lease ("the Guaranty"). Auto Lenders initially
agreed to provide the Guaranty pursuant to the terms and provisions of a First
Amendment to Servicing Agreement between the parties dated March 13, 2000.
<PAGE>

     The parties now wish to extend the Service and the Guaranty offered in the
Servicing Agreement (and First Amendment to Servicing Agreement) to the total
portfolio of leases serviced by BSC for its lender-clients, the residual values
of which were not heretofore guaranteed by Auto Lenders and which leases mature
during the period of September 1, 2000 through December 31, 2001. The leases
which meet these criteria and which were originated prior to February 1, 2000
are referred to herein as the "Old Portfolio". The leases which meet this
criteria and which were or are originated on or after February 1, 2000 are
referred to herein as the "New Portfolio".

                                    AGREEMENT

     Auto Lenders and BSC, in consideration of the above premises and of the
mutual promises and covenants herein contained, intending to be legally bound,
hereby agree as follows:

     1. Authorization. Auto Lenders represents and warrants to BSC that it (i)
        -------------
is a corporation, duly organized and validly existing under the laws of the
State of New Jersey, (ii) is duly licensed and/or qualified in all jurisdictions
where such licensing and/or qualifications is required pursuant to this
Agreement, (iii) is currently providing the Service and the Guaranty only to
BSC, and (iv) is authorized to enter into and perform its obligations under this
Amended Agreement. Auto Lenders agrees that, during the Initial Term and all
Additional Terms of this Amended Agreement as provided in Paragraph 11 hereof,
Auto Lenders will only provide the Service to BSC and the Guaranty to BSC and
lenders who participate in the Program.

     2. Published Residual Values of Leased Motor Vehicles. The parties
        --------------------------------------------------
recognize that BSC publishes, approximately six (6) times per year, an
Automotive Lease Residual Guide as well as bulletins which it distributes to its
automobile dealer network. The residual value of all motor vehicles contained in
each Residual Guide or bulletin to be published in the future shall be mutually
approved by BSC and Auto Lenders. In the event that a residual value of any

                                      -2-
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particular motor vehicle cannot be agreed to by the parties, then Auto Lenders
shall be under no obligation to guarantee the residual value of any such motor
vehicle which is the subject of a lease sold by BSC to a lender.

     3. Guaranty of Residual Values. Except as hereinafter provided, Auto
        ---------------------------
Lenders agrees to guarantee to any lender who purchases a lease agreement from
BSC the residual value of the motor vehicle as contained in the lease agreement.
This Guaranty shall apply, however, only to leases with published residual
values which have been mutually approved by Auto Lenders and BSC as provided in
Paragraph 2 above and to leases which have otherwise been approved by Auto
Lenders in writing.

     Upon the lender's or BSC's receipt of the residual value amount from Auto
Lenders, Auto Lenders shall become the owner of the vehicle and shall receive
from the lender or BSC, without recourse, such documents as may be necessary to
transfer marketable title to the vehicle to Auto Lenders, free and clear of all
liens and encumbrances.

     4. Delivery and Reconditioning of Vehicles. BSC will deliver all vehicles
        ---------------------------------------
which are to be part of this Agreement to Auto Lenders' designated place of
business at BSC's sole cost and expense. Auto Lenders will determine the
reasonable costs necessary to recondition the vehicle for sale or lease and
shall promptly advise BSC of such costs. Such costs shall be reimbursed to Auto
Lenders by BSC on a monthly basis within thirty (30) days of receipt of an
invoice for same from Auto Lenders.

     5. Remarketing of Vehicles. Auto Lenders will use its best efforts to sell
        -----------------------
or lease those vehicles which are reconditioned by it, as well as those vehicles
which did not require reconditioning, on such terms as are acceptable to BSC.

     Upon any such sale, BSC shall transfer the title to the vehicle to Auto
Lenders who shall transfer same to the purchaser. BSC warrants to Auto Lenders
that it has marketable

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title to all vehicles delivered to Auto Lenders pursuant to the Agreement, free
and clear of all liens and encumbrances.

     All proceeds from the sale of any such vehicle shall be credited by Auto
Lenders to an account designated as BSC's "Termination Account". Any deficiency
between the sale proceeds received and the residual amount guaranteed on the
vehicle by Auto Lenders shall be reconciled at the end of each month and paid by
Auto Lenders to BSC and credited to the Termination Account on or before the
10th day of the following month. Likewise, any surplus between the sale proceeds
and the residual amount shall be similarly reconciled and paid from the
Termination Account to Auto Lenders.

     6. Right of First Refusal. Auto Lenders will offer to BSC the right of
        ----------------------
first refusal to the assignment of all leases and retail installment contracts
(together the "Contracts") signed by customers who lease or purchase vehicles
delivered by BSC to Auto Lenders pursuant to this Amended Agreement. BSC shall
exercise its right of first refusal within two (2) business days of its receipt
of the offer or such offer shall expire. All Contracts shall be assigned to BSC
without recourse to Auto Lenders.

     7. Employees. Auto Lenders agrees to employ servicing personnel, at no cost
        ---------
to BSC, in a number and quality sufficient to provide the service to BSC
required by this Amended Agreement. Such personnel shall function under the sole
guidance and direction of Auto Lenders and at all times remain solely the
employees of Auto Lenders. Auto Lenders shall solely be responsible for the
salaries, employment taxes, and any and all employee benefits of such personnel.
It is the intention of BSC and Auto Lenders that this Amended Agreement shall
not be construed to create in any manner whatsoever an employer-employee
relationship between BSC and the employees of Auto Lenders, it being within the
contemplation of the parties that all acts performed by Auto Lenders in carrying
out the provisions of this Amended Agreement shall

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be those of an independent contractor and all acts performed by employees of
Auto Lenders shall be those strictly of employees of Auto Lenders.

     8. Contract Payments. All lease and installment sale payments on Contracts
        -----------------
assigned to BSC hereunder will be made directly payable to BSC. BSC personnel
will promptly process all Contract payments received on a daily basis. BSC will
keep accurate, current and complete records of all payments posted in accordance
with normal business practices and procedures.

     Auto Lenders will promptly pay to BSC all monies received from the sale or
lease of all vehicles disposed of pursuant to this Amended Agreement.

     9. Consideration.
        -------------

          A. Retail Service Fee. In consideration of the Service performed by
             ------------------
Auto Lenders under this Amended Agreement, Auto Lenders shall retain from sale
proceeds received from retail customers a fee for each vehicle sold or leased by
it in an amount to be agreed upon on each transaction based on the expenses
incurred by Auto Lenders in providing the service required by this Amended
Agreement. It is anticipated, however, that the fee shall not be in excess of
the sum of $300.00 per transaction unless the parties each consent to such
excess. There shall be no fee, however, for any vehicle which is sold at
discount or at auction pursuant to this Amended Agreement, although BSC shall
reimburse Auto Lenders for its out of pocket expenses incurred in disposing of
the vehicle within thirty (30) days of receipt of an invoice for same from Auto
Lenders.

          B. Guaranty Fee. In consideration of its agreement to provide the
             ------------
guarantees referred to herein for all residuals guaranteed in leases in the New
Portfolio, Auto Lenders shall receive from BSC (which BSC may cause to be paid
by the lenders participating in the Program) the following compensation, which
compensation shall pertain only to leases where the residual

                                      -5-
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value is guaranteed by Auto Lenders and, in such instances, will be in lieu of
the compensation referred to in Paragraph 9A above:

               i. A fee of $125.00 per lease guaranteed by Auto Lenders. A
minimum of $100.00 of this fee shall be reserved by BSC or the lender
participating in the Program and credited to a Residual Value Loss Reserve
Account in the name of Auto Lenders. The amount of the fee reserved shall be
placed by BSC or the participating lender in an interest-bearing account, with
interest to accrue at a rate not less than the money market account rate offered
by the lender. Interest shall accrue to the benefit of Auto Lenders. The
unreserved balance of the fee shall be paid on or before the tenth (10th) day of
the month following the month in which the guarantee is provided by Auto
Lenders. This fee and/or the reserved amount of the fee shall be subject to
amendment by a written agreement between BSC, Auto Lenders and a lender who
participates in the Program.

               The sum on deposit in the Residual Value Loss Reserve Account
shall be applied to defray residual value losses on leases guaranteed by Auto
Lenders pursuant to the Program; provided that, Auto Lenders has the right to
dispose of the vehicles covered by such leases in any manner Auto Lenders deems
appropriate to minimize such losses. Auto Lenders agrees to maintain the
Residual Value Loss Reserve Account so long as Auto Lenders has any obligation
to the participating lender or BSC. The balance of the Residual Value Loss
Account and accrued interest shall be paid to Auto Lenders at such time as there
is no further liability of Auto Lenders under the guarantees provided pursuant
to this Amendment. Such sum shall be paid within ten (10) business days of
written request of Auto Lenders.

               ii. A monthly fee of $5.00 per lease guaranteed by Auto Lenders
to lenders who participate in the Program. These fees shall be based on the
number of leases which are part of the Program and which are outstanding at the
end of each month. These fees shall be

                                      -6-
<PAGE>

paid by participating lenders and credited to Auto Lenders by BSC on or before
the tenth (10th) day of the following month. It is understood by the parties
that this fee shall apply to the leases guaranteed by Auto Lenders and contained
in the New Portfolio and shall be applied to reduce the $500,000 monthly payment
due from BSC and referred to in Sub-paragraph 9B(iv) below.

               iii. All full-term lease assessments (for example, excess
mileage, assessed wear and tear, vehicle damage, termination-disposition fees
and the like) which relate to a lease guaranteed by Auto Lenders and which are
collected from a lessee at the expiration of the lease shall be paid to Auto
Lenders on or before the tenth (10th) day of the month following the month of
collection. It is understood and agreed, however, that in the event any such
full-term lease assessment is not collected by BSC from the lessee within sixty
(60) days of the date of the invoice to the lessee, such assessment shall be
paid by BSC to Auto Lenders promptly after the expiration of the sixty (60) day
period. From time to time, Auto Lenders may accept the amount of a settlement
between BSC and a lessee as payment in full for a vehicle damage or wear and
tear assessment provided that the reduced amount is reasonable and is previously
approved by Auto Lenders.

               iv. BSC shall pay to Auto Lenders a fee of $500,000 per month
during the Initial Term hereof. The fee due for the month of September, 2000
shall be paid immediately upon the execution of this Amended Agreement by the
parties. The remaining payments shall be made by BSC on or before the first day
of each month during the Initial Term.

          C. Old Portfolio. In consideration of the agreement of Auto Lenders to
             -------------
service the Old Portfolio and to guaranty the residual values of the vehicles
which are the subject of the leases in the Old Portfolio pursuant to the terms
hereof, Auto Lenders shall receive from BSC the following consideration:

                                      -7-
<PAGE>

               i. BSC shall assign to Auto Lenders all of its right, title and
interest in and to its reserve against future losses on all leases in the Old
Portfolio of BSC in the sum of $3,047,000. This sum shall be provided to Auto
Lenders immediately upon the execution of this Amended Agreement by the parties.
This sum shall be used to defray residual value losses guaranteed by Auto
Lenders pursuant to the terms of this Agreement.

         10. Indemnification. Except as otherwise prescribed herein or except to
             ---------------
the extent caused by the negligence or willful misconduct of BSC, Auto Lenders
agrees to indemnify, defend and save BSC harmless from all losses, damages,
claims and expenses (including court costs and attorney's fees provided Auto
Lenders is offered the opportunity to select BSC's attorneys) arising out of the
conduct of Auto Lenders, its officers, agents, servants and employees, in
providing the Service and the Guaranty pursuant to this Amended Agreement. This
indemnification shall survive the termination of this Amended Agreement.

         Likewise, except as otherwise prescribed herein or except to the extent
caused by the negligence or willful misconduct of Auto Lenders, BSC agrees to
indemnify, defend and save Auto Lenders harmless from all losses, damages,
claims and expenses (including court costs and attorney's fees provided BSC is
offered the opportunity to select Auto Lenders' attorneys) arising out of the
conduct of BSC, its officers, agents, servants and employees, in performing its
obligations under this Amended Agreement and in servicing Contracts assigned to
it pursuant to this Amended Agreement. This indemnification shall survive the
termination of this Amended Agreement.

         11. Term of Agreement. This Amended Agreement is for a term of sixteen
             -----------------
(16) months, commencing on September 1, 2000 (the "Effective Date") and ending
on December 31, 2001 (the "Initial Term"). At the end of the Initial term, BSC
shall have the right to renew this Agreement for an additional one (1) year
period from January 1, 2002 through December 31, 2002 (an "Additional Term"), by
providing notice to Auto Lenders within ninety (90) days of the

                                      -8-
<PAGE>

expiration of the Initial Term. Thereafter, BSC shall have the right to renew
this Amended Agreement for seven Additional Terms, each time by providing
written notice to Auto Lenders within ninety (90) days of the expiration of the
applicable Additional Term. This Amended Agreement may be terminated by either
party upon the expiration of the final Additional Term (December 31, 2009) by
providing at least sixty (60) days prior written notice to the other party. In
the absence of such notice, this Amended Agreement shall automatically renew for
additional one (1) years periods, subject to termination on sixty (60) days
prior written notice prior to the expiration of each such period.

     Upon the exercise by BSC of any right of renewal hereunder, the parties
shall use their best efforts to agree upon a reasonable and appropriate change
(by way of an increase or decrease) to the servicing fee per transaction as
provided in Paragraph 9A above, the guaranty fees as provided in Paragraph
9B(i), (ii), (iii) and (iv) above. If the parties are unable to agree upon such
a change within sixty (60) days prior to the expiration date of then existing
Term, then this Amended Agreement shall, notwithstanding anything contained in
the above paragraph to the contrary, either (i) automatically expire at the end
of such Term or (ii) either party may elect to submit the matter to arbitration
to the Philadelphia office of a nationally recognized independent accounting
firm (the "Independent Accounting Firm") which shall within thirty (30) calendar
days after such submission determine and issue a written report establishing the
fee upon the principles set forth below and such written decision shall be final
and binding upon the parties. The fees and disbursements of the Independent
Accounting Firm shall be shared equally by BSC and Auto Lenders. The servicing
fee, guaranty fees and fees applicable to any Additional Term shall be
calculated to provide Auto Lenders with a) a reasonable net financial return as
determined by industry standards and b) the same protection against risk as the
fees and portfolio payments paid to Auto Lenders during the Initial Term. Auto
Lenders agrees to provide

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<PAGE>

BSC with full access to its financial books and records and its financial
statements during the Initial Term and each Additional Term of this Amended
Agreement.

     However, either party may terminate this Amended Agreement at any time
during the Initial Term or any Additional Term upon the failure of the other
party to comply with any of the terms and provisions of this Amended Agreement,
which failure to comply extends thirty (30) days or more after written notice of
the non-compliance to the other party and that party (i) fails to cure such
non-compliance within that time or (ii) fails to commence efforts in good faith
to cure a failure to comply which cannot reasonably be cured within such time.

     BSC's obligations under this Amended Agreement as to Contracts purchased
prior to the effective termination date, and Auto Lenders' obligations as to
vehicles received for sale and as to guarantees made prior to the effective
termination date, shall survive the termination of this Agreement.

     12. Solicitation of Employees. Neither party will hire or employ any
         -------------------------
employee of the other party during the term of this Amended Agreement and for a
period of one (1) year following the effective termination date of this Amended
Agreement without the written consent of the other party.

     13. Assignment of Agreement. Neither Auto Lenders nor BSC may assign or
         -----------------------
delegate its rights or obligations under this Amended Agreement without the
written consent of the other party. This Amended Agreement, however, shall inure
to the benefit of the parties hereto and their respective permitted successors
and assigns.

     14. Notices. All notices hereunder to a party shall be in writing and shall
         -------
be deemed to have been duly given when delivered by hand, telecopy or certified
mail, return receipt requested, to such party at its address set forth above or
such other address as such party may specify by notice to the other party
hereto.

     If sent to Auto Lenders, copies of such notices shall be forwarded to:

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<PAGE>

                  CAPEHART & SCATCHARD, P.A.
                  A Professional Corporation
                  Laurel Corporate Center, Suite 300
                  8000 Midlantic Drive - C.S. 5016
                  Mt. Laurel, New Jersey  08054
                  Attention: Charles A. Rizzi, Jr., Esquire

         If sent to BSC, copies of such notices shall be forwarded to:

                  Susquehanna Bancshares, Inc.
                  26 North Cedar Street
                  Lititz, PA 17543
                  Attention:
                                Chief Executive Officer and
                  Attention:
                                General Counsel

     15. Entire Agreement; Amendments. This Amended Agreement represents the
         ----------------------------
entire understanding between the parties and may not be modified unless such
modification is in writing and signed by each party to this Amended Agreement.

     16. Governing Law. The terms of this Amended Agreement shall be construed
         -------------
and governed in accordance with the laws of the State of New Jersey. Each party
agrees that any suit, action or other proceeding arising out of or in connection
with this Amended Agreement or the transactions contemplated hereby, with the
exception of any indemnification required by this Amended Agreement, shall be
brought in the Superior Court of New Jersey, Gloucester County or the United
States District Court for the District of New Jersey.

     17. Severability. If any provision of this Amended Agreement is held
         ------------
invalid or unenforceable in any jurisdiction, the remainder of this Amended
Agreement shall not be affected thereby.

     18. Enforcement of Agreement. The parties hereto agree that irreparable
         ------------------------
damage would occur in the event that any of the provisions of this Amended
Agreement was not

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<PAGE>

performed in accordance with its specific terms or was otherwise breached. It is
accordingly agreed that the parties shall be entitled to an injunction or
injunctions to prevent breaches of this Amended Agreement and to enforce
specifically the terms and provisions hereof, this being in addition to any
other remedy to which they are entitled at law or in equity.

     19. Counterparts. This Amended Agreement may be executed in counterparts
         ------------
each of which shall be deemed to constitute an original, but all of which
together shall constitute one and the same instrument.

     20. Superceding Agreement. This Amended Agreement supercedes the provisions
         ---------------------
of the Servicing Agreement and the First Amendment of Servicing Agreement.
However, the parties rights and obligations under those Agreements shall
continue in full force and effect under the terms of this Amended Agreement
except to the extent same are amended by this Amended Agreement.

                                      -12-
<PAGE>

         IN WITNESS WHEREOF, BSC and Auto Lenders have caused this instrument to
be executed by their duly authorized corporate officers and their corporate
seals to be affixed hereto the day and year first above written.

                                           AUTO LENDERS LIQUIDATION
                                           CENTER, INC.

Attest:    /s/ Thomas Nicholas             By: /s/ Michael J. Wimmer, President
           --------------------------          ---------------------------------
                      Asst. Secretary
(Corp. Seal)

                                           BOSTON SERVICE COMPANY, INC.
                                           t/a HANN FINANCIAL SERVICE CORP.

Attest:   /s/ Laura Yesbek                 By:  /s/ Charles R. Dovico,
          --------------------------       ------------------------------------
                           Secretary             Executive Vice President
(Corp. Seal)

                                      -13-<PAGE>

                                                                  Exhibit 10(vi)
                                                                  --------------

                    Employment Agreement between Susquehanna
                and William J. Reuter, dated March 21, 2001
<PAGE>

                              EMPLOYMENT AGREEMENT

         AGREEMENT made this 21st day of March, 2001, but effective as of
February 28, 2001, by and between SUSQUEHANNA BANCSHARES, INC., a Pennsylvania
corporation organized as a financial holding company under the Bank Holding
Company Act of 1956, as amended (the "Company"), and WILLIAM J. REUTER, an adult
individual whose principal residence is at 12522 Covenant Way, Hagerstown, MD
21742 (the "Employee").

                                   Background

         Employee currently serves as one of the principal executive officers of
the Company. The Company desires to induce the Employee to remain in the
Company's employment, and the Employee hereby agrees to accept continuation of
employment with the Company on the terms and subject to the conditions
hereinafter set forth.

     1.   Position. The Company hereby agrees to continue the Employee's
          --------
employment, and the Employee hereby agrees to continue employment with the
Company, as President of the Company.

     2.   Duties.
          ------

          2.1 The Employee agrees to assume such duties and responsibilities as
may be consistent with the position of President of the Company, and as may be
assigned to the Employee by the Board of Directors, the Chief Executive Officer
of the Company or by the by-laws of the Company, from time to time. No change in
the duties of the Employee shall in any way diminish the compensation payable to
him pursuant to the provisions of paragraph 4 hereof.

          2.2 The Employee agrees to devote his full time, skill, attention and
energies, and his best efforts to the performance of his duties under this
Agreement consistent with practices and policies established from time to time
by the Company and shall not, during the

                                       1
<PAGE>

term of this Agreement, engage in any other business activity (including,
without limitation, participation by the Employee on any unaffiliated profit or
non-profit board of directors) except: (i) upon the prior written notice to and
consent of the Company's Board of Directors, or (ii) solely as an investor in
real or personal property, the management of which shall not detract from the
performance of his duties hereunder; provided, however, that the engagement by
the Employee in any such business activity shall at all times be in conformity
with the Company's Code of Conduct, as the same may be amended or supplemented
from time to time. Notwithstanding anything herein to the contrary, the Employee
shall terminate any such activity upon reasonable request by the Company.

     3. Period of Employment. Unless terminated earlier pursuant to subparagraph
        --------------------
7.3, 10.1, 10.2, 10.3, 10.5 or 10.7 hereof, the period of employment (the
"Period of Employment") shall be three (3) years from the date hereof or from
the most recent "Renewal Date" as hereinafter used. In each year here following,
between the dates of January 1 and February 28 (the "Renewal Period"), the
Company may renew in writing this Agreement, making such adjustments to the
compensation provisions set forth in Section 4 hereof as the parties hereto may
agree in writing. In the absence of such written agreement between the parties,
the Company will be deemed to have not renewed this Agreement. As provided
herein, the date on which written notice of renewal is given the Employee, which
shall be no later than seven (7) business days following the last day of the
Renewal Period, shall be the "Renewal Date."

     4. Compensation. For all services rendered by the Employee under this
        ------------
Agreement, the Company shall pay to the Employee compensation as provided below:

                                       2
<PAGE>

     4.1 Base Salary. Commencing on the date hereof and continuing for the next
         -----------
twelve (12) months of employment hereunder, the Company shall pay the Employee,
in equal monthly installments, a minimum base salary at the rate of $280,000 per
year. In connection with the annual review required by Section 4.3 hereof, the
Employee's base salary shall be reviewed and in light of such review may be
increased (but not decreased), taking into account any change in the Employee's
responsibilities, performance of the Employee and other pertinent factors.
Payment of any increase in the Employee's base salary (if any) shall commence no
later than July 1st of the year in which the increase is granted.

     4.2 Bonus. The Company may but shall not be required to pay to the Employee
         -----
annual bonus compensation in such amount as may be determined by the Board of
Directors within guidelines established by the Company. Such bonus shall not
exceed the amount of the Employee's basic compensation.

     4.3 Annual Review. The determination of compensation payable by the Company
         -------------
hereunder shall be made by the Compensation Committee of the Company, or its
nominee, which shall perform an annual review of this Agreement, the Employee's
performance with the Company, and compensation payable hereunder. The results of
such review, including recommendation as to salary adjustment and bonus, shall
be reported to the Company and shall be memorialized in the minutes of the
meetings of the Company's Board of Directors or held in a confidential file by
the Company's Human Resources Department.

     5. Employee Expenses. Subject to such general employee expense account
        -----------------
policies as the Company may from time to time adopt, the Company will pay or
reimburse the Employee upon presentation of vouchers or invoices for reasonable
expenses incurred by the Employee in the performance of his duties in carrying
out the terms and provisions of this Agreement,

                                       3
<PAGE>

including, without limitation, expenses for such items as entertainment, travel,
meals, hotel and similar items. In the event that any reimbursed expenses are
disallowed by the Internal Revenue Service as deductions to the Company, the
Employee shall retain such reimbursed expense amounts which the Employee shall
treat and report as additional compensation and which the Company shall treat as
deductible salary expense.

         The Company also shall provide the Employee during his employment under
this Agreement with the full time use of a car selected by the Employee and
comparable to the car available at present. Such car shall be used by the
Employee in accordance with any and all general car policy(ies) as the Company
may from time to time adopt. Such car shall be selected, maintained and replaced
in accordance with the Company's general policy on cars for employees having
need of a car for such use.

     6.   Vacations. The Employee will be entitled to no less than five (5)
          ---------
weeks of paid vacation annually, to be taken at times reasonably convenient to
the Company.

     7.   Benefits.
          --------

          7.1 The Employee shall be entitled to group term life insurance
insuring the Employee's life during the term of employment, disability insurance
coverage, and accidental death and dismemberment benefits, including death
benefit, in such amounts and in such coverage as shall be consistent with the
insurance coverage programs available to other salaried employees of the
Company, as the same may change from time to time. The Employee shall designate
the beneficiary of such policy and benefits.

          7.2 The Employee shall be entitled to major medical and health
insurance coverage for the Employee and his immediate family on such terms, in
such amounts and in such

                                       4
<PAGE>

coverage programs available to other salaried employees of the Company
generally, as the same may change from time to time.

          7.3 If the Employee becomes and continues to be permanently disabled,
such disability to be defined as the Employee's inability, as a result of
illness, incapacity, disease or calamity to perform a substantial part of his
reasonable duties as set forth herein, with no reasonable expectation that the
Employee will be able to resume the performance of his reasonable duties, the
Company shall continue to pay to the Employee the base salary set forth in
paragraph 4, above, and, except as provided in the next sentence of this
paragraph, all other benefits as set forth in this Agreement for a period of no
less than six (6) months following the commencement of such permanent
disability. Any provision of this Agreement notwithstanding, the Employee shall
be conclusively deemed to be permanently disabled if he is physically or
mentally unable to perform his duties or a substantial part thereof for a period
of six consecutive months. The Employee shall have no right to earn any bonus
compensation during such period of time. Thereafter, if such permanent
disability continues, this Agreement shall terminate and the Company (i) shall
have no further obligation to the Employee under this Agreement other than in
connection with such benefits as may be available under such disability
insurance programs, and (ii) shall not be obligated to provide or pay for any
other benefits under the programs or policies listed in subparagraphs 7.1 and
7.2 above, except to the extent that any of the benefits available under such
programs or policies survive termination of the Employee's employment by their
express terms, or as required by law, in which event they shall continue only as
required by their express terms or as required by law, whichever is applicable.

          7.4 To the extent such benefits are not specifically described or
duplicated hereinabove in this paragraph 7, the Employee shall also be entitled
to participate in any and all

                                       5
<PAGE>

thrift, profit sharing, benefit and pension and similar plans, now or hereafter
maintained by the Company and offered by the Company to its salaried, non-union
employees generally; provided, however, that if such participation in any such
plan is determined by the Company's Board of Directors, or any committee
thereof, then the Employee shall have no automatic entitlement to participate in
the same.

         8. Confidential Information. During the term of employment, and at any
            ------------------------
time thereafter, the Employee shall not, without the consent of a senior officer
of the Company, disclose to any person, firm or corporation (except, during the
term of his employment, to the extent necessary to perform his duties hereunder)
any customer lists, trade secrets, reports, correspondence, mailing lists,
manuals, price lists, employee lists, prospective employee lists, letters,
records or any other confidential information relating to the business of the
Company or any Affiliate (as defined in subparagraph 17.2 hereof) of the Company
and shall not, without the consent of a senior officer of the Company, deliver
any oral address or speech or publish, or knowingly permit to be published, any
written matter in any way relating to the confidential information regarding the
business of the Company or any Affiliate of the Company.

         9. Property Rights. The Employee agrees that all literary work,
            ---------------
copyrightable material or other proprietary information or materials developed
by the Employee during the term of this Agreement and relating to, or capable of
being used or adopted for use in, the business of the Company shall inure to and
be the property of the Company and must be promptly disclosed to the Company, as
the case may be. Both during employment by the Company and thereafter, the
Employee shall, at the expense of the Company, execute such documents and do
such things as the Company reasonably may request to enable the Company or its
nominee (i) to apply for copyright or equivalent protection in the United
States, Canada and

                                       6
<PAGE>

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.

          10. Termination.
              -----------

               10.1 The Employee shall be deemed to have been given notice of
termination ("Notice of Termination") for purposes of this subsection 10.1 if
this Agreement is not renewed by the Company during the Renewal Period
commencing next after a Renewal Date (or after the first anniversary of this
Agreement, if there is no Renewal Date) and (i) the Employee elects in a writing
delivered to the Company within thirty (30) calendar days of the termination of
the Renewal Period to treat such failure to renew as Notice of Termination,
effective as of the date of delivery of such election to the Company, or (ii) if
the Employee does not exercise his rights under the immediately preceding
clause, effective on the last day of the twenty-fourth (24th) month following
the most recent Renewal Date.

               Upon the effective date of a Notice of Termination under this
subsection 10.1, the Company may request the Employee to, and if requested, the
Employee shall continue to perform his duties as set forth in this Agreement for
a period not to exceed three (3) months from the effective date of Notice of
Termination. In addition to such period, the Employee shall be reasonably
available for a period of nine (9) additional months for advice and consultation
as requested by the Company. The Employee shall be entitled to receive all
salary and benefits for a period of twelve (12) months following the effective
date of Notice of Termination; provided, however, that in the event the Employee
obtains other employment in the twelve (12) month period following the effective
date of Notice of Termination, then the amount of base salary due hereunder
shall be decreased by the salary and benefits received by the Employee
attributable to other employment during such twelve (12) month period.

                                       7
<PAGE>

               10.2 This Agreement shall be terminated upon action of the
Employee by not less than two (2) months notice to the Company. The Employee
agrees in the event of termination under this subparagraph to cooperate, advise
and consult the Company as needed to assist in the transition of the Employee's
replacement during such two (2) month period and thereafter for a period of four
(4) months during reasonable times and under reasonable circumstances.

               10.3 Nothing in this Agreement shall be construed to prevent
immediate termination by the Company of the Employee's employment under this
Agreement for cause, which shall include, and be limited to: (a) the Employee's
personal dishonesty; (b) the Employee's incompetence; (c) the Employee's willful
misconduct; (d) the Employee's breach of fiduciary duty involving personal
profit; (e) the Employee's intentional failure to perform stated duties; (f) the
Employee's willful violation of any law, rule or regulation (other than traffic
violations or similar offenses); (g) the issuance of a final cease-and-desist
order by a state or federal agency having jurisdiction over the Company or any
entity which controls the Company to the extent such cease-and-desist order
requires the termination of the Employee; or (h) a material breach by the
Employee of any provision of this Agreement.

               10.4 If this Agreement is terminated under subparagraphs 10.2 or
10.3 hereof, the Company shall be obligated to pay the Employee his base salary
to the date of such termination, plus any accrued bonus. The Company shall not
be obligated to provide or pay for any further benefits under the programs or
policies listed in Section 7 above except to the extent that any of the benefits
available under such programs or policies survive termination of the Employee's
employment by their express terms, or as required by law (e.g., COBRA), in which
event they shall continue only as required by their express terms or as required
by law, whichever

                                       8
<PAGE>

is applicable.

               10.5 In addition to termination under subparagraphs 10.1, 10.2
and 10.3 above, the Employee's employment by the Company under this Agreement
may be terminated by the Company at any time without cause during the term
provided in this Employment Agreement or by the Employee as follows: (i) within
twelve (12) months following the date of this Agreement if there occurs an
adverse change in the Employee's circumstances within such twelve month period;
or (ii) within twelve (12) months following a Change of Control (as defined in
subparagraph 17.2 below) if there occurs an adverse change in the Employee's
circumstances within such twelve (12) month period.

               For purposes of this Agreement, "an adverse change in the
Employee's circumstances" shall include and be limited to (A) a significant
change in the nature or scope of the Employee's duties as set forth in the first
sentence of paragraph 2 hereof such that the Employee has been reduced to a
position of materially lesser authority, status or responsibility (provided,
however, for purposes of this subparagraph, in circumstances not involving a
Change of Control, so long as the Employee remains a senior officer (which shall
mean and include any officer position with the Company above the position of
vice president), an adverse change in circumstance shall not be deemed to have
occurred), or the time required to be spent by the Employee 60 miles or more
beyond the Company's geographic market area shall be increased without the
Employee's consent by more than twenty percent (20%), increased against the
average of the two (2) preceding years, or (B) a reduction in the Employee's
base compensation or (C) any other material and willful breach by the Company of
any other provision of this Agreement.

               In any such event of termination under this subparagraph 10.5,
the Company shall

                                       9
<PAGE>

pay to the Employee in a lump sum an amount equal to the greater of the
Employee's then current monthly salary rate or the rate in effect prior to any
reduction which led to the termination times the number of months otherwise
remaining in the Period of Employment set forth in paragraph 3. The Company
shall also provide the Employee with the following, or the value thereof:

          (a) in addition to the benefits provided under subparagraph 7.4

hereof, the pension benefits which would have accrued had the Employee remained
in the employ of the Company for the remainder of the Period of Employment,
which benefits will be paid concurrently with the benefits which would otherwise
have been provided under such "plans"; and

          (b) all other employee benefits to which the Employee would have been
entitled under paragraph 7 hereof if he had remained in the employ of the
Company for the remainder of the Period of Employment.

          10.6 (i) Anything in this Agreement to the contrary notwithstanding,
in the event that it shall be determined that any payment or distribution by the
Company to or for the benefit of the Employee, whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or
otherwise (a "Payment"), would constitute an "excess parachute payment" within
the meaning of Section 280G of the Internal Revenue Code of 1986, as amended
(the "Code"), and that it would be economically advantageous to the Company to
reduce the Payment to avoid or reduce the taxation of excess parachute payments
under Section 4999 of the Code, the aggregate present value of amounts payable
or distributable to or for the benefit of the Employee pursuant to this
Agreement (such payments or distributions pursuant to this Agreement are
hereinafter referred to as "Agreement Payments") shall be reduced (but not

                                       10
<PAGE>

below zero) to the Reduced Amount. The "Reduced Amount" shall be an amount
expressed in present value which maximizes the aggregate present value of
Agreement Payments without causing any Payment to be subject to the taxation
under Section 4999 of the Code. For purposes of this subparagraph 10.6, present
value shall be determined in accordance with Section 280G(d)(4) of the Code.

          (ii) All determinations to be made under this subparagraph 10.6 shall
be made by the Company's independent public accountant (the "Accounting Firm"),
which firm shall provide its determinations and any supporting calculations both
to the Company and the Employee within 10 days of his termination of employment.
Any such determination by the Accounting Firm shall be binding upon the Company
and the Employee. The Employee shall in his sole discretion determine which and
how much of the Agreement Payments shall be eliminated or reduced consistent
with the requirements of this subparagraph 10.6. Within thirty days after the
Employee's determination, the Company shall pay (or cause to be paid) or
distribute (or cause to be distributed) to or for the benefit of the Employee
such amounts as are then due to the Employee under this Agreement.

          (iii) As a result of the uncertainty in the application of Section
280G of the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Agreement Payments, as the case may be, will have
been made by the Company which should not have been made ("Overpayment") or that
additional Agreement Payments which have not been made by the Company could have
been made ("Underpayment"), in each case, consistent with the calculations
required to be made hereunder. Within two years after the termination of
employment, the Accounting Firm shall review the determination made by it
pursuant to the preceding paragraph. In the event that the Accounting Firm
determines that an Overpayment has

                                       11
<PAGE>

been made, any such Overpayment shall be treated for all purposes as a loan to
the Employee which the Employee shall repay to the Company together with
interest at the applicable Federal rate provided for in Section 7872(f)(2) of
the Code (the "Federal Rate"); provided, however, that no amount shall be
payable by the Employee to the Company if and to the extent such payment would
not reduce the amount which is subject to taxation under Section 4999 of the
Code. In the event that the Accounting Firm determines that an Underpayment has
occurred, any such Underpayment shall be promptly paid by the Company to or for
the benefit of the Employee together with interest at the Federal Rate.

          (iv) All of the fees and expenses of the Accounting Firm in performing
the determinations referred to in subsections (ii) and (iii) above shall be
borne solely by the Company.

          10.7 Notwithstanding anything to the contrary set forth above, this
Agreement shall terminate immediately upon the close of business on the last
business day in the calendar year in which the Employee attains the age of 65.
Upon such termination, the Employee shall be entitled, to the extent he is
covered by such at the time, to all retirement, pension, insurance and other
benefits available to the Company's employees.

          10.8 Upon termination of employment hereunder, the Employee shall not
malign, criticize or otherwise disparage the Company or its officers, directors
or Affiliates.

     11. Records. Upon the termination of employment hereunder, the Employee
         -------
shall deliver to the Company all correspondence, reports, customer lists, office
keys, manuals, advertising brochures, sample contracts, price lists, employee
lists, prospective employee lists, mailing lists, letters, records and any and
all other documents pertaining to or containing information relative to the
business of the Company, and the Employee shall not remove any of

                                       12
<PAGE>

such records either during the course of employment or upon the termination
thereof.

     The Employee understands that in the event of a violation of the provisions
of this paragraph 11, the Company 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
paragraph 11 shall be in addition to any legal or equitable remedies existing
between the Employee and the Company, and shall not be construed as a limitation
upon, or as alternative or in lieu of, such remedies.

     12. Prohibited Assignment. The Employee shall have no right to exchange,
         ---------------------
convert, encumber or dispose of the rights to receive the benefits or payments
under this Agreement, which payments, benefits and rights thereto are expressly
declared to be non-assignable and non-transferable.

     13. Indemnification. To the extent permitted by law, the Company shall
         ---------------
indemnify the Employee and hold him harmless from all liability and claims,
whether meritorious or not, including the cost of defense thereof (including
reasonable attorneys' fees) which have arisen or accrued or which hereafter may
arise or accrue and are based upon any act or omission which the Employee has
taken or committed or hereafter may take or commit on behalf of or in connection
with the Company in his official capacity, so long as the following conditions
are met with respect to such claim or liability: (a) if such action was taken in
the exercise of reasonable business judgment and was taken in an area within the
scope of responsibility of the Employee, or (b) if not within the scope of the
Employee's responsibility, (i) at the time of such act or omission the Board of
Directors of the Company had knowledge of the facts or circumstances pursuant to
which such act was taken or such omission occurred and (ii) no written objection
to such act or omission was duly made by the Board of Directors.

                                       13
<PAGE>

     Actions taken by the Employee which are covered by this Agreement
specifically include (by way of illustration), but are not limited to, (a) the
payment of any salary, bonus or other compensation to any officer, director, or
employee, (b) the reimbursement or payment of any expenses incurred by any such
officer, director or employee, (c) the making or retention of any investments
(including, without limitation, loans) by the Company, or (d) injury claims
against the Company or the Employee based on negligence or other alleged
tortious actions and which arise in connection with the conduct of the Company's
business.

     The Employee shall indemnify the Company and hold it harmless from all
liability and claims, whether meritorious or not, including the cost of the
defense thereof (including reasonable attorneys' fees) which have arisen or
accrued or which hereafter may arise or accrue and are based upon acts taken
without the consent or approval of the Board of Directors of the Company and
which represent the Employee's deliberate malfeasance or gross negligence.

     14. Non-Competition. During the term of employment hereunder, and in the
         ---------------
event the Employee's employment is terminated pursuant to subparagraphs 10.2 or
10.3 hereof, then for a one year period thereafter, the Employee will not
directly for himself or any third party, become engaged in any business or
activity which is directly in competition with any services or financial
products sold by, or any business or activity engaged in by, the Company,
including, without limitation, any business or activity engaged in by any
federally or state chartered bank, savings bank, savings and loan association,
trust company and/or credit union, and/or any services or financial products
sold by such entities, including, without limitation, the taking and accepting
of deposits, the provision of trust services, the making of loans and/or the
extension of credit, brokering loans and/or leases and the provision of
insurance and investment services, within a 25 mile radius of any office or
facility of the Company or any of its Affiliates. This

                                       14
<PAGE>

provision shall not restrict the Employee from owning or investing in publicly
traded securities of financial institutions, so long as his aggregate holdings
in any financial institution do not exceed ten percent (10%) of the outstanding
capital stock of such institution.

     During the period of employment hereunder, and for a period of two years
thereafter no matter the reason of termination, the Employee will not solicit
any person who was a customer of the Company during the period of the Employee's
employment hereunder, or solicit potential customers who are or were identified
through leads developed during the course of employment with the Company, or
otherwise divert or attempt to divert any existing business of the Company
within any area of 100 miles of any office or facility of the Company or any of
its Affiliates.

     The Employee will not, either during the period of employment hereunder or
for a period of two years thereafter directly for himself or any third party,
solicit, induce, recruit or cause another person in the employment of the
Company or any of its Affiliates to terminate his or her employment for the
purposes of joining, associating, or becoming employed with any business or
activity which is in competition with any services or financial products sold,
or any business or activity engaged in, by Company.

     The Employee understands that in the event of a violation of any provision
of this Agreement, the Company shall have the right to seek injunctive relief,
in addition to any other existing rights provided in this Agreement or by
operation of law, without the requirement of posting bond. The remedies provided
in this section shall be in addition to any legal or equitable remedies existing
at law or provided for in any other agreement between the Employee or the
Company, and shall not be construed as a limitation upon, or as an alternative
or in lieu of, any such remedies. If any provisions of this Section shall be
determined by a court of competent jurisdiction to be unenforceable in part by
reason of it being too great a period of time or

                                       15
<PAGE>

covering too great a geographical area, it shall be in full force and effect as
to that period of time or geographical area determined to be reasonable by the
court.

     15. Survival. Notwithstanding anything to the contrary in this Agreement,
         --------
the parties agree that the Employee's obligations under paragraphs 8 and 9 of
this Agreement will continue despite the expiration of the term of this
Agreement or its termination.

     16.  Preemptive Considerations. Notwithstanding anything to the contrary
          -------------------------
set forth herein:

          16.1 If the Employee is suspended and/or temporarily prohibited from
participating in the conduct of the Company's 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 Company'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 Company may in its discretion (i) pay the Employee 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.

          16.2 If the Employee is removed and/or permanently prohibited from
participating in the conduct of the Company's affairs by an order issued under
Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818
(e)(4) or (g)(1)) or any amendments or supplements thereto, all obligations of
the Company under the contract shall terminate as of the effective date of the
order, but vested rights of the parties shall not be affected.

          16.3 If the Company is in default (as defined in Section 3(x)(1) of
the Federal Deposit Insurance Act), all obligations under this Agreement shall
terminate as of the date of default, but this subparagraph 16.3 shall not affect
any vested rights of the parties.

                                       16
<PAGE>

          17. Miscellaneous.
              -------------

               17.1 Assignment. This Agreement (including, without limitation,
                    ----------
paragraph 14 hereof relating to non-competition) shall be binding upon the
parties hereto, the heirs and legal representatives of the Employee and the
successors and assigns of the Company.

               17.2 Definitions. The term "Company" shall mean the Company as
                    -----------
hereinbefore defined or any entity succeeding to substantially all of the assets
and business of the Company. The term "Affiliate" shall mean with respect to the
Company, persons or entities controlling, controlled by or under common control
with the Company. As used herein, a "Change of Control" shall be deemed to have
occurred upon the happening of any one or more of the following occurrences, if
prior thereto, the happening of such occurrence has not received the approval of
a majority of the disinterested members of the Board of Directors of the
Company:

               (a) A liquidation or dissolution of the Company (excluding
          transfers to subsidiaries) or the sale of all or substantially all of
          the Company's assets occurs;

               (b) As a result of a tender offer, stock purchase, other stock
          acquisition, merger, consolidation, recapitalization, reverse split or
          sale or transfer of assets, any person or group (as such terms are
          used in and under Section 13(d)(3) or 14(d)(2) of the Securities
          Exchange Act of 1934 (the "Exchange Act")) becomes the beneficial
          owner (as defined in Rule 13-d under the Exchange Act), directly or
          indirectly, of securities of the Company representing more than 20% of
          the common stock of the Company or the combined voting power of the
          Company's then outstanding securities; provided, however, that for
          purposes of this subsection 11(b), a person or group shall not include
          the Company or any subsidiary or any employee benefit plan (or related
          trust) sponsored or maintained by the Company or any subsidiary
          thereof;

                                       17
<PAGE>

               (c) If at least a majority of the Board of Directors of the
          Company at any time does not consist of individuals who were elected,
          or nominated for election, by directors in office at the time of such
          election or nomination; or

               (d) the Company merges or consolidates with any other corporation
          (other than an Affiliate) and is not the surviving corporation (or
          survives only as a subsidiary of another corporation).

               17.3 Notices. Any notice required, permitted or intended to be
                    -------
given under this Agreement shall be in writing and shall be deemed to have been
given only if delivered personally or sent by registered or certified mail,
return receipt requested, postage prepaid; except as provided in subparagraph
10.3 hereinabove with regard to constructive notice.

               17.4 Entire Agreement. This Agreement constitutes the entire
                    ----------------
agreement between the parties in connection with the subject matter hereof,
supersedes any and all prior agreements or understandings between the parties
and may only be changed by agreement in writing between the parties.

               17.5 Construction. This Agreement shall be construed and enforced
                    ------------
in accordance with the laws of the Commonwealth of Pennsylvania.

               17.6 Section Headings. The section headings herein have been
                    ----------------
inserted for convenience of reference only and shall in no way modify or
restrict any of the terms or provisions hereof.

                                       18
<PAGE>

         IN WITNESS WHEREOF, and intending to be legally bound, the parties have
executed this Agreement the day and year first above written.

                                            SUSQUEHANNA BANCSHARES, INC.

Attest:/s/ Lisa M. Cavage                   By: /s/ Robert S. Bolinger
       ----------------------                  ------------------------------
            Secretary                       Robert S. Bolinger
                                            Chairman of the Board and
                                            Chief Executive Officer

                                            EMPLOYEE
Witness:

/s/ Kathleen R. Singer                      /s/ William J. Reuter
-----------------------------               ---------------------------------
Name:                                       William J. Reuter

                                       19

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