Document:

EXHIBIT 4.4

      

      

      Description of Securities Registered Under Section 12

      of the Securities Exchange Act of 1934, as amended

      

      

      As of December 31, 2019, the only class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended
        (the “Exchange Act”) by The York Water Company (the “Company,” “York,” “we,” “us,” and “our”) was our common stock, without par value.

      Description of Capital Stock

      The following description of our capital stock is a summary and does not purport to be complete. It is subject to
        and qualified in its entirety by reference to our Amended and Restated Articles of Incorporation, which is an exhibit to our Current Report on Form 8‐K filed with the Securities and Exchange Commission on May 4, 2010, and our Amended and Restated
        By‐laws, which is an exhibit to our Current Report on Form 8‐K filed with the Securities and Exchange Commission on January 26, 2012, each of which is incorporated by reference herein. We encourage you to read our articles, our by-laws and the
        applicable provisions of the Pennsylvania Business Corporation Law of 1988, as amended, for additional information.

      Authorized Capital Stock

      Our authorized capital stock consists of 47,000,000 shares, of which 46,500,000 shares are common stock and
        500,000 shares are preferred stock, each without par value.

      Common Stock

      Voting Rights

      Each share of common stock entitles the holder to one vote on each matter presented at a meeting of shareholders
        or to express consent or dissent to corporate action in writing without a meeting. Cumulative voting in an election of directors is not permitted under our articles of incorporation. Pursuant to our by-laws, our Board of Directors consists of at
        least eight and not more than twelve directors, with three separate classes of directors and with each such class elected every three years to a staggered three-year term of office. As a result of this classification, a greater number of votes are
        required to elect a director than if the entire Board of Directors were elected at the same time, thus making it more difficult for shareholders to obtain board representation in proportion to their shareholdings.

      Dividends

      All shares of common stock are entitled to participate pro rata in any dividends declared by our Board of
        Directors out of funds legally available therefor. Subject to the prior rights of creditors and of any shares of preferred stock which may be outstanding, all shares of common stock are entitled in the event of liquidation to participate ratably in
        the distribution of all our remaining assets.

      Certain of our trust indentures and agreements relating to our outstanding indebtedness impose restrictions on
        the payment of dividends. In general, these restrictive provisions prohibit the payment of dividends on our common stock when cumulative dividend payments, over a specified period of time, exceed cumulative net income, over the same period, plus,
        in certain cases, a specified base amount. In view of our historic net income, management believes that these contractual provisions should not have any direct, adverse impact on the dividends we pay on our common stock. Notwithstanding these
        contractual provisions, our Board of Directors periodically considers a variety of factors in evaluating our common stock dividend rate. The continued maintenance of the current common stock dividend rate will be dependent upon (i) our success in
        financing future capital expenditures through debt and equity issuances, (ii) our success in obtaining future rate increases from the Pennsylvania Public Utility Commission (the “PPUC”), (iii) future interest rates, and (iv) other events or
        circumstances which could have an effect on operating results.

      
        

        
          

        

      

      

      

      Preferred Stock

      We also have 500,000 shares of preferred stock authorized, which our Board of Directors has discretion to issue
        in such series and with such preferences and rights as it may designate. Such preferences and rights may be superior to those of the holders of common stock. For example, the holders of preferred stock may be given a preference in payment upon our
        liquidation, or for the payment or accumulation of dividends before any distributions are made to the holders of common stock. No shares of the preferred stock have been issued.

      Anti-Takeover Provisions

      Pennsylvania State Law Provisions

      We are subject to various anti-takeover provisions of the Pennsylvania Business Corporation Law of 1988, as
        amended (the “PBCL”) Generally, these provisions are triggered if any person or group acquires, or discloses intent to acquire, 20% or more of a corporation’s voting power, unless the acquisition is under a registered firm commitment underwriting
        or, in certain cases, approved by the board of directors. These provisions:

      
        	
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                provide the other shareholders of the corporation with certain rights against the acquiring group or person;

              

      

      
        	
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                prohibit the corporation from engaging in a broad range of business combinations with the acquiring group or person; and

              

      

      
        	
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                restrict the voting and other rights of the acquiring group or person.

              

      

      In addition, as permitted by Pennsylvania law, an amendment to our articles of incorporation or other corporate
        action that is approved by shareholders may provide mandatory special treatment for specified groups of nonconsenting shareholders of the same class. For example, an amendment to our articles of incorporation or other corporate action may provide
        that shares of common stock held by designated shareholders of record must be cashed out at a price determined by the corporation, subject to applicable dissenters’ rights.

      Preferred Stock

      The issuance of shares of preferred stock, while potentially providing desirable flexibility in connection with
        raising capital for our needs and other corporate purposes, could have the effect of making it more difficult for a third party to acquire a majority of our outstanding voting stock.

      Bylaw Provisions

      Certain provisions of by-laws may have the effect of discouraging unilateral tender offers or other attempts to
        take over and acquire our business. These provisions might discourage some potentially interested purchaser from attempting a unilateral takeover bid for us on terms, which some shareholders might favor.

      Our by-laws require our Board of Directors to be divided into three classes that serve staggered three-year
        terms.  When a board is staggered, hostile bidders must win more than one proxy fight at successive shareholder meetings in order to exercise control of the board of the target.

      The by-laws also require that any shareholder intending to nominate a candidate for election as a director must
        give written notice of the nomination, containing certain specified information, to our secretary not later than 90 days nor earlier than 120 days in advance of the meeting at which the election is to be held.

      
        

        
          

        

      

      

      

      Pennsylvania Public Utility Commission Provisions

      The Pennsylvania Public Utility Commission, or PPUC, has jurisdiction over a change in control of us or the
        acquisition of us by a third party. The PPUC approval process can be lengthy and may deter a potentially interested purchaser from attempting to acquire a controlling interest in us.

      Miscellaneous

      There are no preemptive rights, sinking fund provisions, conversion rights or redemption provisions applicable to
        the common stock. Holders of fully paid shares of common stock are not subject to any liability for further calls or assessments.

      Exchange Listing

      Our common stock is listed on The NASDAQ Global Select Market System under the trading symbol “YORW.”

      Transfer Agent and Registrar

      The Transfer Agent and Registrar for the common stock is Broadridge Corporate Issuer Solutions, Inc, PO Box 1342,
        Brentwood, NY 11717.EXHIBIT 10-16

     

      

    
      

      

    

    
      AMENDED AND RESTATED

       
      AGREEMENT

      

      

      This Amended and Restated Agreement (this “Agreement”) made as of ____________________, between The York Water Company, a Pennsylvania corporation (the “Company”), and ________________ (“Employee”).

      WHEREAS, Employee is the ______________________ of the Company and devotes substantially all of his business time
        and efforts to the Company’s affairs;

      WHEREAS, the Company recognizes that the departure or distraction of key management personnel would be detrimental
        to the business of the Company;

      WHEREAS, the Board of Directors of the Company has determined that appropriate steps should be taken to reinforce
        and encourage the continued attention and dedication of key members of the Company’s management to their assigned duties without distraction;

      WHEREAS, in consideration of Employee’s continued employment with the Company and his agreement not to compete with
        the Company as set forth in this Agreement, the Company agrees that Employee shall receive the compensation set forth in this Agreement against the adverse financial and career impact on Employee if his employment with the Company is terminated
        under certain circumstances;

      WHEREAS, the Company wishes to reward the dedication and loyalty of Employee by providing for certain bonus payments
        to be made to Employee based upon Employee’s tenure, the Company agrees that Employee shall receive the payments set forth in this Agreement upon the achievement of certain temporal milestones;

      WHEREAS, the Company and Employee previously entered into this Agreement on ____________ (the “Prior Agreement”); and

      WHEREAS, the parties now wish to amend and restate the Prior Agreement on the terms set forth herein to make this
        Agreement compliant with the applicable requirements of Section 409A of the Code (as defined below) and the regulations promulgated thereunder.

      NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter set forth and
        intending to be legally bound hereby, the parties hereto agree as follows:

      1. Definitions.  For all purposes of this Agreement, the following terms shall have the meanings specified in this Section unless the context clearly otherwise requires:

      (a) “Affiliate” and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Exchange Act.

      
        
          

        

      

      (b) A Person shall be deemed the “Beneficial Owner” of any securities: (i) that such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has the right
          to acquire (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding (whether or not in writing) or upon the exercise of conversion rights, exchange rights, rights,
          warrants or options, or otherwise; provided, however, that a Person shall not be deemed the “Beneficial Owner” of securities tendered pursuant to a tender or exchange offer made by such Person or any of such Person’s Affiliates or Associates
          until such tendered securities are accepted for payment, purchase or exchange; (ii) that such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has the right to vote or dispose of or has “beneficial ownership” of
          (as determined pursuant to Rule 13d-3 of the General Rules and Regulations under the Exchange Act), including without limitation, pursuant to any agreement, arrangement or understanding, whether or not in writing; provided, however, that a Person
          shall not be deemed the “Beneficial Owner” of any security under this clause (ii) as a result of an oral or written agreement, arrangement or understanding to vote such security if such agreement, arrangement or understanding (A) arises solely
          from a revocable proxy given in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the applicable provisions of the General Rules and Regulations under the Exchange Act, and (B) is not then reportable by
          such Person on Schedule 13D under the Exchange Act (or any comparable or successor report); or (iii) that are beneficially owned, directly or indirectly, by any other Person (or any Affiliate or Associate thereof) with which such Person (or any
          of such Person’s Affiliates or Associates) has any agreement, arrangement or understanding (whether or not in writing) for the purpose of acquiring, holding, voting (except pursuant to a revocable proxy as described in the proviso to clause (ii)
          above) or disposing of any voting securities of the Company; provided, however, that nothing in this Section 1(b) shall cause a Person engaged in business as an underwriter of securities to be the “Beneficial Owner” of any securities acquired
          through such Person’s participation in good faith in a firm commitment underwriting until the expiration of 40 days after the date of such acquisition.

      (c) “Board” shall mean the Board of Directors of the Company.

      (d) “Business Combination” shall mean a reorganization, merger or consolidation of the Company.

      (e) “Cause” shall mean (i) misappropriation of funds or any act of common law fraud, (ii) habitual insobriety or substance abuse, (iii) conviction of a felony or any crime
          involving moral turpitude, (iv) willful misconduct or gross negligence by Employee in the performance of his duties, (v) the willful failure of Employee to perform a material function of Employee’s duties hereunder, or (vi) Employee engaging in a
          conflict of interest or other breach of fiduciary duty.

      (f) “Change of Control” shall mean:

      (i) Any Person (except Employee, his Affiliates and Associates, the Company, any Subsidiary of the Company, any employee benefit plan of the Company or of any Subsidiary of the
          Company, or any Person or entity organized, appointed or established by the Company for or pursuant to the terms of any such employee benefit plan), together with all Affiliates and Associates of such Person, becomes the Beneficial Owner in the
          aggregate of 50 percent or more of either (A) the Outstanding Company Common Stock or (B) the Company Voting Securities , in either case unless a majority of the members of the Board in office immediately prior to such acquisition determine
          within five business days of the receipt of actual notice of such acquisition that the circumstances do not warrant the implementation of the provisions of this Agreement;

      

      

      (ii) The Incumbent Board ceases for any reason to constitute at least a majority of the Board, provided that any individual becoming a director subsequent to the beginning of such
          period whose election or nomination for election by the Company’s shareholders was approved by a vote of at least a majority of the directors then constituting the Incumbent Board shall be considered as though such individual were a member of the
          Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the Directors of the Company (as such terms are
          used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act);

      

      

      (iii) Consummation by the Company of a Business Combination, in each case, with respect to which all or substantially all of the individuals and entities who were the respective
          Beneficial Owners of the Outstanding Company Common Stock and Company Voting Securities immediately prior to such Business Combination are not, following such Business Combination, Beneficial Owners, directly or indirectly, of more than 50
          percent of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation
          resulting from such Business Combination in substantially the same proportion as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and Company Voting Securities, as the case may be, in any such
          case unless a majority of the members of the Board in office immediately prior to such Business Combination determines at the time of such Business Combination that the circumstances do not warrant the implementation of the provisions of this
          Agreement; or

      

      

      (iv) (A) Consummation of a complete liquidation or dissolution of the Company or (B) sale or other disposition of all or substantially all of the assets of the Company other than
          to a corporation with respect to which, following such sale or disposition, individuals and entities that are the Beneficial Owners of more than 50 percent of, respectively, the Outstanding Company Common Stock and the Company Voting Securities
          are substantially the same as the individuals and entities who were the Beneficial Owners, respectively, of the Outstanding Company Common Stock and Company Voting Securities immediately prior to such sale or disposition in substantially the same
          proportion as their ownership of the Outstanding Company Common Stock and Company Voting Securities, as the case may be, immediately prior to such sale or disposition, in any such case unless a majority of the members of the Incumbent Board in
          office immediately prior to such sale or disposition determines at the time of such sale or disposition that the circumstances do not warrant the implementation of the provisions of this Agreement.

      

      

      (g) “Code” shall mean the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.

      (h) “Company Voting Securities” shall mean the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of
          directors.

      (i) “Compensation” shall mean the sum of base compensation and annual bonus compensation payable in cash to Employee during the twelve months preceding any date of determination
          under this Agreement.

      (j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

      (k) “Good Reason Termination” shall mean a Termination of Employment initiated by Employee following a Change of Control and the occurrence of one or more of the following events,
          without the consent of Employee:

      (i) any action or inaction that constitutes a material breach by the Company of this Agreement, including but not limited to a breach of Section 6 hereof;

      (ii) any material reduction by the Company of the authority, duties or responsibilities of Employee’s principal assignment with the Company;

      
        	
                (iii)

              	
                any material reduction in Employee's base compensation;

              

      

      (iv) any removal by the Company of Employee from the employment grade or officer positions which Employee holds as of the effective date hereof except in connection with promotions
          to higher office; provided, however, that such removal results in a diminution in Employee's authority, duties or responsibilities; or

      (v) a material change in the geographic location at which Employee must perform services; provided that a transfer of Employee to a location that is more than 50 miles from his
          principal place of business immediately preceding the Change of Control shall constitute a material change in the geographic location.

      Notwithstanding the preceding definition of Good Reason Termination, Employee shall only have a Good Reason Termination for purposes of
        this Agreement if he provides written notice to the Company identifying the event or omission constituting the reason for the Good Reason Termination not more than 30 days following the occurrence of such event.  Within 30 days after notice has
        been provided, the Company shall have the opportunity, but shall have no obligation, to cure such events or conditions that give rise to the Good Reason Termination.  If the Company fails to cure the events or conditions giving rise to Employee’s
        Good Reason Termination, Employee must actually terminate within 60 days thereafter for the termination to be a Good Reason Termination.

      (l) “Incumbent Board” shall mean those individuals who, as of any date of determination under the Agreement, are individuals who have constituted the Board during the preceding
          12-month period.

      (m) “Outstanding Company Common Stock” shall mean the then outstanding shares of common stock of the Company.

      (n) “Person” shall mean any natural person, business trust, corporation, partnership, limited liability company, joint stock company, proprietorship, association, trust, joint
          venture, unincorporated association or any other legal entity of whatever nature.

      (o) “Phase Out Date” shall mean the first day of the calendar month coincident with or next following Employee’s 65th birthday.

      (p) “Subsidiary” shall mean any corporation in which the Company, directly or indirectly, owns at least a 50 percent interest or an unincorporated entity of which the Company,
          directly or indirectly, owns at least 50 percent of the profits or capital interests.

      (q) “Termination Date” shall mean the date of Employee’s Termination of Employment.

      (r) “Termination of Employment” shall mean Employee’s “separation from service” within the meaning of such term under Section 409A of the Code) with the Company.

      2. Notice of Termination.  Any Termination of Employment shall be communicated by a Notice of Termination in accordance with Section 17 hereof. For purposes of this Agreement, a
          “Notice of Termination” means a written notice which, in the case of a Good Reason Termination by Employee (a) indicates the specific reasons for the termination, (b) briefly summarizes the facts and circumstances deemed to provide a basis for
          termination of Employee’s employment, and (c) if the Termination Date is other than the date of receipt of such notice, specifies the Termination Date (which date shall not be more than 15 days after the giving of such notice).

      3. Severance Compensation upon Termination; Bonus Payments upon Certain Circumstances.

      (a) In the event of (i) an involuntary Termination of Employment for any reason other than Cause or (ii) a Good Reason Termination, in either case within one year following a
          Change of Control or six months prior to a Change of Control, the Company shall pay to Employee, within 60 days after the later of the Termination Date or the date of the Change of Control, a single sum cash payment equal to _____ multiplied by
          Employee’s Compensation and on the first payroll date of the seventh month following Employee’s Termination Date with the Company, in accordance with the requirements set forth in Section 14(c), an additional single sum cash payment equal to
          one-fourth (25 percent) multiplied by Employee’s Compensation, both payments subject to Employee’s execution and non-revocation of a release in form and substance reasonably satisfactory to the Chairman of the Board and customary employment taxes
          and statutory deductions.

      

      

      (b) In the event of Employee’s voluntary Termination of Employment for any reason other than a Good
            Reason Termination, within (i) three months after a Change of Control, Employee shall not be entitled to any payment; or (ii) three months and one day to 12 months following a Change of Control, the Company shall pay to Employee on the
          first payroll date of the seventh month following Employee’s Termination Date with the Company, in accordance with the requirements set forth in Section 14(c), subject to Employee’s execution and non-revocation of a release in form and substance reasonably satisfactory to the Chairman of the Board, a single sum cash payment equal to one-fourth (25 percent) of Employee’s Compensation, subject to customary
            employment taxes and statutory deductions.

      (c) If on the date 12 months and one day following a Change of Control there has not been a Termination of Employment, then the Company shall pay to Employee, within 60 days after
          such date, a single sum in cash equal to one-half (50 percent) multiplied by Employee’s Compensation, subject to customary employment taxes and statutory deductions; provided that the foregoing amount shall only be paid if the transaction
          constituting a Change of Control hereunder also constitutes a “change in control event” as such term is defined in Section 409A of the Code.

      

      

      (d) Notwithstanding paragraph (a) or (b) above and without regard to the fact that payment is to be made in a single sum, until the earlier of the Phase Out Date or 36 months
          after the Termination Date, Employee shall be entitled to continued coverage under the Company’s medical, dental and other welfare benefit plans at the same level of coverage (and required employee contributions, if any) as Employee was receiving
          at the time of his Termination Date, subject to the Company’s right to make changes to such plans for all of its executive level employees generally; provided, however, that this obligation of the Company shall cease upon Employee’s obtaining new
          employment that provides Employee with eligibility for comparable medical benefits without a pre-existing condition limitation; and, provided, further, that such extended coverage shall be in addition to, and not as a substitute for, Employee’s
          COBRA rights which shall apply at the end of such extended coverage.  All other benefit plan coverages, retirement benefit accruals and fringe benefit eligibility shall cease on the Termination Date subject to applicable rights under ERISA and
          COBRA.

      

      

      4. Other Payments.  The payment due under Section 3 hereof shall be in addition to and not in lieu of any payments or benefits accrued for Employee through the Termination Date
          under any plan, policy or program of the Company, including the Supplemental Retirement Plan and the Deferred Compensation Agreement, except that no payments shall be due to Employee under any severance pay plan for the Company’s employees.

      

      

      5. Enforcement.

      (a) In the event that the Company shall fail or refuse to make payment of any amounts due Employee under Sections 3 and 4 hereof within the respective time periods provided
          therein, the Company shall pay to an escrow agent, who shall invest such sum with interest to be paid to the prevailing party, any amount remaining unpaid under Section 3 or 4.  In such event, the parties shall engage in arbitration in the City
          of Harrisburg, Pennsylvania, in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American Arbitration Association, before a panel of three arbitrators, one of whom shall be selected by the Company
          and one by Employee, and the third of whom shall be selected by the other two arbitrators.  Any award entered by the arbitrators shall be final, binding and nonappealable and judgment may be entered thereon by either party in accordance with
          applicable law in any court of competent jurisdiction.  This arbitration provision shall be specifically enforceable.  The arbitrators shall have no authority to modify any provision of this Agreement or to award a remedy for a dispute involving
          this Agreement other than a benefit specifically provided under or by virtue of the Agreement.  The delayed payment will be treated as paid on the date specified under this Agreement if Employee accepts any portion of the payment that the Company
          is willing to make, Employee makes prompt and reasonable, good faith efforts to collect the remaining portion of the payment and the remainder of the payment is made no later than the end of the Company’s first taxable year in which the
          arbitrators reach a decision, the Company and Employee enter into a legally binding settlement of the dispute over the payment or the date the Company concedes the payment is due to Employee.  For Employee’s efforts to collect payment to be
          considered prompt, reasonable and in good faith, Employee must provide notice to the Company within 90 days of the latest date that payment could have been made in accordance with the terms of this Agreement and, if not paid, Employee must take
          further enforcement measures within 180 days after such date.

      (b) The Company shall pay Employee on demand the amount necessary to reimburse Employee in full for all reasonable expenses (including reasonable attorneys’ fees and expenses)
          incurred by Employee in enforcing any of the obligations of the Company under this Agreement subject to Employee’s duty to repay such sums to the Company in the event that Employee does not prevail on any material issue which is the subject of
          such arbitration.  If Employee prevails on at least one material issue which is the subject of such arbitration, the Company shall be responsible for all of the fees of the American Arbitration Association and the arbitrators and any expenses
          relating to the conduct of the arbitration (including Employee’s reasonable attorneys’ fees and expenses).  Otherwise, each party shall be responsible for his or its own expenses relating to the conduct of the arbitration (including reasonable
          attorneys’ fees and expenses) and shall equally share the fees of the American Arbitration Association.  Any reimbursement or in-kind benefits under this Section 5 shall be paid or provided to Employee within 30 days of the date Employee is
          finally determined to have prevailed on at least one material issue, which was the subject of the arbitration.

      6. Material Breach.  The parties agree that it shall constitute a material breach of this agreement by the Company if Employee’s annual bonus compensation opportunity is
          significantly reduced from the level effective as of the date the parties enter into this Agreement.

      

      

      7. No Mitigation.  Employee shall not be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other employment or otherwise, nor
          shall the amount of any payment or benefit provided for herein be reduced by any compensation earned by other employment or otherwise.

      

      

      8. Non-exclusivity of Rights.  Nothing in this Agreement shall prevent or limit Employee’s continuing or future participation in or rights under any benefit, bonus, incentive or
          other plan or program provided by the Company or any of its Subsidiaries or Affiliates and for which Employee may qualify, from the date hereof through the Termination Date.

      

      

      9. No Set-Off.  The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any
          circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against Employee or others.

      

      

      10. Taxes.  Any payment required under this Agreement shall be subject to all requirements of law with regard to the withholding of taxes, filing, making of reports and the like,
          and the Company shall use its best efforts to satisfy promptly all such requirements.

      

      

      11. Confidential Information.  Employee recognizes and acknowledges that, by reason of his employment by and service to the Company, he has had and will continue to have access to
          confidential information of the Company, including, without limitation, information and knowledge pertaining to products and services offered, innovations, designs, ideas, plans, trade secrets, proprietary information, distribution and sales
          methods and systems, sales and profit figures, customer and client lists, and relationships between the Company and its Subsidiaries and Affiliates and other distributors, customers, clients, suppliers and others who have business dealings with
          the Company (“Confidential Information”).  Employee acknowledges that such Confidential Information is a valuable and unique asset and covenants that he will not, either during or after his employment by the Company, disclose or use any such
          Confidential Information to any person for any reason whatsoever without the prior written authorization of the Board, unless such information is in the public domain through no fault of Employee or except as may be required by law.

      

      

      
        	
                12.

              	
                Non-Competition.

              

      

      

      

      (a) During his employment by the Company and for a period of one year thereafter, Employee will not, unless acting with the prior written consent of the Board, directly or
          indirectly, own, manage, operate, join, control, finance or participate in the ownership, management, operation, control or financing of, or be connected as an officer, director, employee, partner, principal, agent, representative, consultant or
          otherwise with or use or permit his name to be used in connection with, any business or enterprise engaged in by the Company or any of its Affiliates, either during his employment by the Company or on the Termination Date, as applicable, in the
          geographic area comprising the Company’s franchised service territory (the “Geographic Area”).  It is recognized by Employee that the business of the Company and its Affiliates and Employee’s connection therewith is or will be involved in
          activity throughout the Geographic Area, and that more limited geographical limitations on this non-competition covenant would not be appropriate.  Employee also shall not, directly or indirectly, during such one year period (a) solicit or
          attempt to convert any account or customer of the Company or its Affiliates existing on the Termination Date to another supplier, or (b) following Employee’s employment, solicit or attempt to hire any then employee of the Company or its
          Affiliates.

      

      

      (b) The foregoing restriction shall not be construed to prohibit the ownership by Employee of less than five percent of any class of securities of any corporation which is engaged
          in any of the foregoing businesses having a class of securities registered pursuant to the Exchange Act, provided that such ownership represents a passive investment and that neither Employee nor any group of persons including Employee, either
          directly or indirectly, manages or exercises control of any such corporation, guarantees any of its financial obligations, otherwise takes any part in its business, other than exercising his rights as a shareholder, or seeks to do any of the
          foregoing.

      

      

      
        	
                13.

              	
                Equitable Relief.

              

      

      (a) Employee acknowledges that the restrictions contained in Sections 11 and 12 hereof are reasonable and necessary to protect the legitimate interests of the Company and its
          Affiliates, that the Company would not have entered into this Agreement in the absence of such restrictions, and that any violation of any provision of those Sections will result in irreparable injury to the Company.  Employee represents that his
          experience and capabilities are such that the restrictions contained in Section 12 hereof will not prevent Employee from obtaining employment or otherwise earning a living at the same general level of economic benefit as anticipated by this
          Agreement.  Employee further represents and acknowledges that (i) he has been advised by the Company to consult his own legal counsel in respect of this Agreement, and (ii) that he has had full opportunity, prior to execution of this Agreement,
          to review thoroughly this Agreement and understands its terms and conditions.

      (b) Employee agrees that the Company shall be entitled to preliminary and permanent injunctive relief, without the necessity of proving actual damages, as well as an equitable
          accounting of all earnings, profits and other benefits arising from any violation of Sections 11 or 12 hereof, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled.  In the event
          that any of the provisions of Sections 11 or 12 hereof should ever be adjudicated to exceed the time, geographic, service, or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such
          jurisdiction to the maximum time, geographic, service, or other limitations permitted by applicable law.

      (c) Employee irrevocably and unconditionally (i) agrees that any suit, action or other legal proceeding arising out of Section 11 or 12 hereof, including, without limitation, any
          action commenced by the Company for preliminary and permanent injunctive relief or other equitable relief, may be brought in the United States District Court for the Middle District of Pennsylvania, or if such court does not have jurisdiction or
          will not accept jurisdiction, in any court of general jurisdiction in York County, Pennsylvania, consents to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding, and (iii) waives any objection which Employee
          may have to the laying of venue of any such suit, action or proceeding in any such court.  Employee also irrevocably and unconditionally consents to the service of any process, pleadings, notices or other papers in a manner permitted by the
          notice provisions of Section 17 hereof.

      

      

      (d) Employee agrees that he will provide, and that the Company may similarly provide, a copy of Sections 11 and 12 hereof to any business or enterprise (i) which he may directly
          or indirectly own, manage, operate, finance, join, control or participate in the ownership, management, operation, financing, control or control of, or (ii) with which he may be connected as an officer, director, employee, partner, principal,
          agent, representative, consultant or otherwise, or in connection with which he may use or permit his name to be used; provided, however, that this provision shall not apply in respect of Section 13 hereof after expiration of the time period set
          forth therein.

      

      

      
        	
                14.

              	
                Application of Section 409A.

              

      

      (a) This Agreement is intended to comply with the applicable provisions of Section 409A of the Code and shall be interpreted to avoid any penalty sanctions under Section 409A of
          the Code.  If any payment or benefit cannot be provided or made at the time specified herein without incurring sanctions under Section 409A of the Code, then such benefit or payment shall be provided in full at the earliest time thereafter when
          such sanctions will not be imposed.  For purposes of Section 409A of the Code, all payments to be made upon a termination of employment under this Agreement may only be made upon Employee's “separation from service” (within the meaning of such
          term under Section 409A of the Code), each payment made under this Agreement shall be treated as a separate payment and the right to a series
          of installment payments under this Agreement shall be treated as a right to a series of separate payments.  In no event shall Employee, directly or indirectly, designate the calendar year of payment.

      

      

      (b) All reimbursements and in kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code, including,
          where applicable, the requirement that (i) any reimbursement or in kind benefit is for expenses incurred during Employee’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for
          reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year, (iii) the reimbursement or payment of an eligible expense
          will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit.

      

      

      (c) If, at the time of Employee’s termination of employment with the Company, the Company has securities which are publicly traded on an established securities market and Employee
          is a “specified employee” (as defined in Section 409A of the Code) and it is necessary to postpone the commencement of any payments or benefits otherwise payable pursuant to this Agreement as a result of such termination of employment to prevent
          any accelerated or additional tax under Section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or
          provided to Employee) that are not otherwise paid within the short-term deferral exception under Treas. Reg. §1.409A-1(b)(4), and the separation pay exception under
            Treas. Reg. §1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six months following Employee’s separation of service with the Company.  If any payments or benefits are postponed due to such
          requirements, such amounts will be paid in a lump sum to Employee on the first payroll date that occurs after the date that is six months following Employee’s separation of service with the Company.  If Employee dies during the postponement
          period prior to the payment of the postponed amount, the amounts withheld on account of Section 409A of the Code shall be paid to the personal representative of Employee’s estate within 60 days after the date of Employee’s death.

      

      

      15. Term of Agreement.  The term of this Agreement shall be for five years commencing on the date hereof and shall automatically be renewed for additional periods of one year
          until the Company notifies Employee in writing, at least 90 days in advance of expiration, that this Agreement will not be renewed.  If any notice of non-renewal occurs within two years after a Change of Control, such notice shall constitute an
          involuntary Termination of Employment for purposes of Section 3 above. Notwithstanding anything herein to the contrary, this Agreement (other than the provisions of Sections 11 through 12 hereof) shall terminate on the Phase-Out Date or if the
          employment of Employee by the Company shall terminate for any reason other than as provided herein.

      16. Successor Company. The Company shall require any successor or successors (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
          all of the business and/or assets of the Company, by agreement in form and substance satisfactory to Employee, to acknowledge expressly that this Agreement is binding upon and enforceable against the Company in accordance with the terms hereof,
          and to become jointly and severally obligated with the Company to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession or successions had taken place. Failure of the
          Company to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement. As used in this Agreement, the Company shall mean the Company as herein defined and any such successor or successors to its
          business and/or assets, jointly and severally.

      17. Notice. All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be in writing and shall be delivered
          personally or mailed by registered or certified mail, return receipt requested, or by overnight express courier service, as follows:

      If to the Company, to:

      The York Water Company

      130 East Market Street

      York, PA  17405-7089

      Attention:  Chairman of the Board

      If to Employee, to:

      ____________________

      ____________________

      ____________________

      or to such other names or addresses as the Company or Employee, as the case may be, shall designate by notice to the other party hereto
        in the manner specified in this Section. Any such notice shall be deemed delivered and effective when received in the case of personal delivery, five days after deposit, postage prepaid, with the U.S. Postal Service in the case of registered or
        certified mail, or on the next business day in the case of overnight express courier service.

      18. Governing Law. This Agreement shall be governed by and interpreted under the laws of the Commonwealth of Pennsylvania without giving effect to any conflict of laws provisions.

      
        	
                19.

              	
                Contents of Agreement, Amendment and Assignment.

              

      

      (a) This Agreement supersedes all prior agreements, sets forth the entire understanding between the parties hereto with respect to the subject matter hereof and cannot be changed,
          modified, extended or terminated except upon written amendment executed by Employee and the Company and only if approved by the Board. The provisions of this Agreement may provide for payments to Employee under certain compensation or bonus plans
          under circumstances where such plans would not provide for payment thereof. It is the specific intention of the parties that the provisions of this Agreement shall supersede any provisions to the contrary in such plans, and such plans shall be
          deemed to have been amended to correspond with this Agreement without further action by the Company.

      (b) Nothing in this Agreement shall be construed as giving Employee any right to be retained in the employ of the Company.

      (c) All of the terms and provisions of this Agreement shall be binding upon, inure to the benefit of, and be enforceable by the respective heirs, representatives, successors and
          assigns of the parties hereto, except that the duties and responsibilities of Employee and the Company hereunder shall not be assignable in whole or in part.

      20. Severability.  If any provision of this Agreement or application thereof to anyone or under any circumstances shall be determined to be invalid or unenforceable, such
          invalidity or unenforceability shall not affect any other provisions or applications of this Agreement, which can be given effect without the invalid or unenforceable provision or application.

      21. Remedies Cumulative; No Waiver.  No right conferred upon Employee by this Agreement is intended to be exclusive of any other right or remedy, and each and every such right or
          remedy shall be cumulative and shall be in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity.  No delay or omission by Employee in exercising any right, remedy or power hereunder or existing at
          law or in equity shall be construed as a waiver thereof.

      22. Miscellaneous. All section headings are for convenience only.  This Agreement may be executed in several counterparts, each of which is an original.  It shall not be necessary
          in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.

      23. Employee’s Acknowledgment. By executing this Agreement as of the date first above written, Employee acknowledges that he has no grounds for asserting that a Good Reason
          Termination exists as of that date and, therefore, that no obligation under Section 3 exists at the current time.

      
        
          

        

      

      IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date
        first above written.

      	 	
              THE YORK WATER COMPANY

            
	 	 
	
                       By:

            	 
	
              Witness

            	
              President and CEO

            
	 	 
	 	 
	
              Witness

            	
              Employee

            
	 	 

      

      

      
        
          

        

      

      Schedule 10.16

      

      

      

      

      	
              Name

            	
              Original Agreement Date

            	
              Multiple of Base Pay for Involuntary

              Termination or Good Reason Termination

            
	
              Joseph T. Hand

            	
              November 5, 2008

            	
              2.99

            
	
              Vernon L. Bracey

            	
              December 15, 2003

            	
              .50

            
	
              Mark S. Snyder

            	
              January 25, 2011

            	
              .50

            
	
              Matthew E. Poff

            	
              February 9, 2018

            	
              .50

            
	
              Natalee Colón

            	
              March 15, 2019

            	
              .50

            
	
              Mark J. Hardman

            	
              March 15, 2019

            	
              .50

            
	
              Mark A. Wheeler

            	
              September 16, 2019

            	
              .50

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