Document:

EXHIBIT 10.8

 Exhibit 10.8 
 FORM OF 
 FOX CHASE BANK 
 CHANGE IN CONTROL AGREEMENT 
 THIS AGREEMENT (“Agreement”) is
hereby entered into as of                             , 2006, by and between FOX CHASE BANK
(the “Bank”), a federally chartered mutual savings bank,
                                 (“Executive”) and FOX CHASE
BANCORP, INC. (the “Company”), a federally-chartered corporation and the holding company of the Bank, as guarantor. 
 WHEREAS, the Bank recognizes the importance of Executive to the Bank’s operations and wishes to protect his position with the Bank in the event of a change in control of the Bank or the Bank for the period provided for in this
Agreement; and 
 WHEREAS, Executive and the Bank desire to enter into an agreement setting forth the terms and conditions of payments
due to Executive in the event of a change in control and the related rights and obligations of each of the parties. 
 NOW, THEREFORE,
in consideration of the promises and mutual covenants herein contained, it is hereby agreed as follows: 
 1. TERM OF AGREEMENT. 
 (a) The term of this Agreement shall be (i) the initial term of this Agreement, consisting of the period commencing on the date of this Agreement
(the “Effective Date”) and ending on the              anniversary of the Effective Date, plus (ii) any and all extensions of the initial term made pursuant to this
Section 1. 
 (b) On each anniversary date thereafter, the Board of Directors of the Bank (the “Board of Directors”) may
extend the term of this Agreement for an additional one (1) year period beyond the then effective expiration date: provided that Executive shall not have given at least sixty (60) days’ written notice of his desire that the term not
be extended. 
 (c) Notwithstanding anything in this Section to the contrary, this Agreement shall terminate if Executive or the Bank
terminates Executive’s employment prior to a Change in Control. 
 2. TERMINATION OF EMPLOYMENT AFTER A CHANGE IN CONTROL. 
 (a) Upon the occurrence of a Change in Control followed at any time during the term of this Agreement by (i) the termination of Executive’s
employment by the Bank, other than for Cause (as defined in Section 3 below), or (ii) the Executive’s termination of employment for “Good Reason” (as defined in Section 3 below), Executive shall be entitled to receive
the following: 
  

	 	(A)	continuation of Executive’s base salary for a period of              months. 

  

	 	(B)	continuation of health (including medical and dental) and life insurance coverage for a period of             
months upon terms no less favorable than the terms upon which such coverage was provided to Executive prior to Executive’s termination of employment. In the event that the Bank is unable to provide such coverage by reason of Executive no longer
being an employee, the Bank shall provide Executive with comparable coverage on an individual policy basis. 

	 	(C)	For purposes of this Agreement, “base salary” shall mean: 

  

	 	(i)	for salaried employees, the employee’s annual base salary at the rate in effect on his or her termination date or, if greater, the rate in effect on the date immediately
preceding the Change in Control. 

  

	 	(ii)	for employees whose compensation is determined in whole or in part on the basis of commission income, the employee’s base salary at termination (or, if greater, the base salary
on date immediately preceding the effective date of the Change in Control), if any, plus the commissions earned by the employee in the twelve (12) full calendar months preceding his or her termination date (or, if greater, the commissions
earned in the twelve (12) full calendar months immediately preceding the effective date of the Change in Control). 

  

	 	(iii)	for hourly employees, the employee’s total hourly wages for the twelve (12) full calendar months preceding his or her termination date or, if greater, the twelve
(12) full calendar months preceding the effective date of the Change in Control. 

 3. DEFINITIONS; SPECIAL LIMITATIONS.

 (a) For purposes of this Agreement, the following definitions shall apply: 
  

	 	(A)	“Change in Control” means the occurrence of one of the following events: 

  

	 	i.	Merger: The Bank or the Company merges into or consolidates with another entity, or merges another entity into the Bank or the Company, and as a result less than a majority
of the combined voting power of the resulting entity immediately after the merger or consolidation is held by persons who were shareholders of the Bank or the Company immediately before the merger or consolidation; 

  

	 	ii.	Change in Board Composition: During any period of two consecutive years, individuals who constitute the Boards of Directors of the Bank or the Company at the beginning of the
two-year period cease for any reason (other than as required by the Order to Cease and Desist dated June 6, 2005 entered into by the Bank with the Office of Thrift Supervision) to constitute at least a majority of the Boards of Directors of the
Bank or the Company; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the members) by a vote of at least two-thirds (2/3) of the
directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or 

  

	 	iii.	Acquisition of Significant Share Ownership: There is filed, or required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G)
required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner(s) of 20% or more of a class of the

  

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	 	    	Bank’s or the Company’s voting securities, however this clause (iii) shall not apply to beneficial ownership of Bank or Company voting shares held in a fiduciary
capacity by an entity of which the Bank or the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities; or 

  

	 	iv.	Sale of Assets: The Bank or the Company sells to a third party all or substantially all of its assets; or 

  

	 	v.	Proxy Statement Distribution: An individual or company (other than current management of the Company) solicits proxies from stockholders of the Company seeking stockholder
approval of a plan of reorganization, merger or consolidation of the Company or Bank with one or more corporations as a result of which the outstanding shares of the class of securities then subject to such plan or transaction are exchanged for or
converted into cash or property or securities not issued by the Bank or the Company; or 

  

	 	vi.	Tender Offer: A tender offer is made for 20% or more of the voting securities of the Bank or Company then outstanding. 

 Notwithstanding anything in this Agreement to the contrary, in no event shall the reorganization of the Bank from the mutual holding company form of
organization to the full stock holding company form of organization (including the elimination of the mutual holding company) constitute a “Change in Control” for purposes of this Agreement. 
  

	 	(B)	“Good Reason” means, unless Executive has consented in writing thereto, the occurrence following a Change in Control, of any of the following: 

  

	 	i.	a material reduction in title, authority or responsibilities; 

  

	 	ii.	a reduction of the Executive’s base salary in effect immediately prior to the Change in Control; 

  

	 	iii.	the relocation of the Executive’s office to a location more than 30 miles from its location immediately prior to the Change in Control; 

  

	 	iv.	the taking of any action by the Bank or any of its affiliates or successors that would materially adversely affect Executive’s overall compensation and benefits package, unless
such changes to the compensation and benefits package are made on a non-discriminatory basis to all employees; or 

  

	 	v.	failure of any successor institution to assume the obligations under this Agreement in accordance with Section 16 of this Agreement 

 (b) Executive shall not have the right to receive termination benefits pursuant to Section 3 hereof upon termination for Cause. The term
“Cause” shall mean termination of Executive’s employment by the Bank because of Executive’s personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to
perform stated duties, willful violation of any law, rule, regulation (other than traffic violations or similar offenses), final cease and desist order, or any material breach of any provision of this Agreement. Executive shall not have the right to
receive compensation or other benefits for any period after termination for Cause. 
  

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 (c) Notwithstanding anything in this Agreement to the contrary, in no event shall the aggregate payments
or benefits to be made or afforded to Executive under said paragraphs or otherwise (the “Termination Benefits”) constitute an “excess parachute payment” under Section 280G of the Internal Revenue Code of 1986, as amended, or
any successor thereto, and to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to three (3) times
Executive’s “base amount,” as determined in accordance with said Section 280G. The allocation of the reduction required hereby among the Termination Benefits provided by this Section 3 shall be determined by Executive.

 (d) Notwithstanding anything in this Agreement to the contrary, if the Bank in good faith determines that amounts that, as of the
effective date of the Executive’s termination of employment are or may become payable to the Executive upon termination of his employment hereunder are required to be suspended or delayed for six (6) months in order to satisfy the
requirements of Section 409A of the Internal Revenue Code, then the Bank will so advise the Executive, and any such payments shall be suspended and accrued for six months. 
 4. NOTICE OF TERMINATION. 
 (a) Any termination by the Bank or by Executive shall be communicated by
Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set
forth in detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 
 (b) “Date of Termination” shall mean the date specified in the Notice of Termination (which, in the case of a termination for Cause, shall not be less than thirty (30) days from the date such Notice of
Termination is given). 
 5. NON-COMPETE; NON-SOLICITATION. 
 (a) During the period commencing on the effective date of Executive’s termination of employment (i) on a voluntary basis at any time but without Good Reason, or (ii) following a Change in Control, by
the Bank without Cause or by Executive with Good Reason, and ending [            ] year thereafter (the “Restricted Period”), Executive shall not, without express
prior written consent of the Bank, directly or indirectly, own or hold any proprietary interest in, or be employed by or receive remuneration from, any corporation, partnership, sole proprietorship or other entity (collectively, an
“entity”) “engaged in competition” (as defined below) with the Bank or any of its affiliates (a “Competitor”). For purposes of the preceding sentence, the term “proprietary interest” means direct or indirect
ownership of an equity interest in an entity other than ownership of less than two (2) percent of any class stock in a publicly-held entity. Further, an entity shall be considered to be “engaged in competition” if such entity is, or
is a holding company for or a subsidiary of an entity which is engaged in the business of providing banking, trust services, asset management advice, or similar financial services to consumers, businesses individuals or other entities;
and the entity, holding company or subsidiary maintains physical offices for the transaction of such business or businesses in any city, town or county in which the Executive’s normal business office is located or the Bank has an office or
has filed an application for regulatory approval to establish an office, as determined on the date of Executive’s termination of employment. 
 (b) During the Restricted Period, Executive shall not, without express prior written consent of the Bank, solicit or assist any other person in soliciting for the account of any Competitor, any customer or client of the Bank or any of its
subsidiaries. 
  

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 (c) During the Restricted Period, Executive shall not, without the express prior written consent of the
Bank, directly or indirectly, (i) solicit or assist any third party in soliciting for employment any person employed by the Bank or any of its subsidiaries at the time of the termination of Executive’s employment (collectively,
“Employees”), (ii) employ, attempt to employ or materially assist any third party in employing or attempting to employ any Employee, or (iii) otherwise act on behalf of any Competitor to interfere with the relationship between
the Bank or any of its affiliates and their respective Employees. 
 (d) Executive acknowledges that the restrictions contained in this
Section 5 are reasonable and necessary to protect the legitimate interests of the Bank and that any breach by Executive of any provision contained in this Section 5 will result in irreparable injury to the Bank for which a remedy at law
would be inadequate. Accordingly, Executive acknowledges that the Bank shall be entitled to temporary, preliminary and permanent injunctive relief against Executive in the event of any breach or threatened breach by Executive of the provisions of
this Section 5, in addition to any other remedy that may be available to the Bank whether at law or in equity. With respect to any provision of this Section 5 finally determined by a court of competent jurisdiction to be unenforceable,
such court shall be authorized to reform this Agreement or any provision hereof so that it is enforceable to the maximum extent permitted by law. If the covenants of Section 5 are determined to be wholly or partially unenforceable in any
jurisdiction, such determination shall not be a bar to or in any way diminish the Bank’s right to enforce such covenants in any other jurisdiction and shall not bar or limit the enforceability of any other provisions. The Bank shall not be
required to post any bond or other security in connection with any proceeding to enforce the provisions of this Section 5. 
 (e) The
provisions of this Section 5 shall survive the termination of Executive’s employment with the Bank for any reason whatsoever so long as the termination of employment occurs during the Term, provided, however, that if the Executive or Bank
give notice that the Agreement shall not be extended beyond the effective expiration date, the restrictions set forth in this Section 5 shall survive the termination of Executive’s employment with the Bank for a period of six
(6) months. 
 6. SOURCE OF PAYMENTS. 
 All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, unconditionally guarantees payment and provision of all amounts and benefits due hereunder to
Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company. 
 7. EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS. 
 This Agreement contains the entire
understanding between the parties hereto and supersedes any prior agreement between the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere
provided. Nothing in this Agreement shall confer upon Executive the right to continue in the employ of the Bank or shall impose on the Bank any obligation to employ or retain Executive in its employ for any period. 
  

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 8. NO ATTACHMENT. 
 (a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation or to
execution, attachment, levy or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void and of no effect. 
 (b) This Agreement shall be binding upon, and inure to the benefit of, Executive, the Bank and their respective successors and assigns. 
 9. MODIFICATION AND WAIVER. 
 (a) This Agreement may
not be modified or amended except by an instrument in writing signed by the parties hereto. 
 (b) No term or condition of this Agreement
shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a
continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that
specifically waived. 
 10. SEVERABILITY. 
 If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such
other provision and part thereof shall to the full extent consistent with law continue in full force and effect. 
 11. HEADINGS FOR REFERENCE ONLY.

 The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or
interpretation of any of the provisions of this Agreement. In addition, references herein to the masculine shall apply to both the masculine and the feminine. 
 12. GOVERNING LAW. 
 Except to the extent preempted by federal law, the validity, interpretation, performance, and
enforcement of this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania, without regard to principles of conflicts of law of Pennsylvania. 
 13. ARBITRATION. 
 Any dispute or controversy arising under, or in connection with, this Agreement shall be settled
exclusively by arbitration, conducted before an arbitrator sitting in a location selected by Executive within twenty-five (25) miles from the location of the main office of the Bank, in accordance with the rules of the American Arbitration
Association then in effect relating to employment disputes. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 
  

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 14. PAYMENT OF LEGAL FEES. 
 All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Bank, only if Executive is successful
pursuant to a legal judgment, arbitration or settlement. 
 15. INDEMNIFICATION. 
 The Bank shall provide Executive (including his heirs, executors and administrators) with coverage under a standard directors’ and officers’
liability insurance policy at its expense and shall indemnify Executive (and his heirs, executors and administrators) to the fullest extent permitted under applicable law against all expenses and liabilities reasonably incurred by him in connection
with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been an officer of the Bank (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities),
such expenses and liabilities to include, but not be limited to, judgments, court costs, attorneys’ fees and the cost of reasonable settlements. 
 16. SUCCESSORS TO THE BANK. 
 The Bank shall require any successor or assignee, whether direct or indirect, by purchase,
merger, consolidation or otherwise, to all or substantially all of the business or assets of the Bank, expressly and unconditionally to assume and agree to perform the Bank’s obligations under this Agreement, in the same manner and to the same
extent that the Bank would be required to perform if no such succession or assignment had taken place. 
 17. REQUIRED PROVISIONS. 
 In the event any of the provisions of this Section 17 are in conflict with the other terms of this Agreement, this Section 17 shall prevail.

 (a) The Bank’s board of directors may terminate Executive’s employment at any time, but any termination by the Bank, other than
Termination for Cause, shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause as
defined in Section 2(b) above. 
 (b) If Executive is suspended from office and/or temporarily prohibited from participating in the
conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(3) or (g)(1); the Bank’s obligations under this contract shall be suspended as of the date
of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion: (i) pay Executive all or part of the compensation withheld while their contract obligations were suspended; and
(ii) reinstate (in whole or in part) any of the obligations which were suspended. 
 (c) If Executive is removed and/or permanently
prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(4) or (g)(1), all obligations of the Bank under this
contract shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. 
  

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 (d) If the Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act, 12
U.S.C. §1813(x)(1) all obligations of the Bank under this contract shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. 
 (e) All obligations under this contract shall be terminated, except to the extent determined that continuation of the contract is necessary for the
continued operation of the Bank: (i) by the Director of the OTS (or his designee), at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the
Federal Deposit Insurance Act, 12 U.S.C. §1823(c); or (ii) by the Director of the OTS (or his designee) at the time the Director (or his designee) approves a supervisory merger to resolve problems related to the operations of the Bank or
when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 
 (f) Any payments made to employees pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C.
§1828(k) and FDIC regulation 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments. 
 *    *    * 
 SIGNATURES 
 IN WITNESS WHEREOF, Fox Chase Bank has caused this Agreement to be executed and its seal to be affixed hereunto by a duly authorized officer, and
Executive has signed this Agreement, on the day of                     , 2006. 
  

					
	ATTEST:	  	FOX CHASE BANK
			
	  
	  	By:	 	  

	Corporate Secretary	  		 	For the Entire Board of Directors
		
		  	FOX CHASE BANCORP, INC.
		  	(guarantor)
			
		  	By:	 	  

		
	WITNESS:	  	EXECUTIVE
		
	  
	  	  

  

 8EXHIBIT 10.9

 Exhibit 10.9 
 FOX CHASE BANK 
 EXECUTIVE LONG-TERM INCENTIVE PLAN 
 Article I 
 Purpose 

The purpose of the Fox Chase Bank Executive Long-Term Incentive Plan (the “Plan”) is to assist the Bank in retaining and attracting key
officers contributing to the financial and business success of the Bank. 
 Article II 
 Section 409A Compliance 
 The Bank
intends for the Plan to comply with the requirements of Section 409A of the Code and regulations, rulings and other guidance issued thereunder, (collectively, “Section 409A”), and the Plan shall be interpreted and administered
accordingly. Notwithstanding any other provision of this Plan, no acceleration of distributions not permitted by Section 409A shall be permitted, and no action, amendment or termination of the Plan shall be effective to the extent it would
cause the Plan to violate requirements of Section 409A. 
 Article III 
 Definitions 
 For the purposes of this Plan, the following words and phrases
shall have the meanings indicated, unless the context clearly indicates otherwise: 
  

	 	1.	“Bank” means Fox Chase Bank, Hatboro, Pennsylvania. 

  

	 	2.	“Beneficiary” means the person, persons or entity designated by the Participant to receive benefits payable under the Plan. 

  

	 	3.	“Board” means the Board of Directors of the Bank. 

  

	 	4.	“Cause” shall mean termination because of the Employee’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit,
intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar infractions) or a final cease-and-desist order. 

  

	 	5.	“Change in Control” means any one of the following events occurs: 

  

	 	(a)	Merger: The Bank merges into or consolidates with another entity, or merges another entity into the Bank and, as a result, less than a majority of the combined voting power
of the resulting entity immediately after the merger or consolidation is held by persons who were members of the Bank immediately before the merger or consolidation; 

	 	(b)	Change in Board Composition: During any period of two consecutive years, individuals who constitute the Bank’s Board of Directors at the beginning of the two-year period
cease for any reason (other than as required by the Order to Cease and Desist dated June 6, 2005 entered into by the Bank with the Office of Thrift Supervision) to constitute at least a majority of the Board; provided, however, that for
purposes of this clause (b) each director who is first elected by the Board (or first nominated by the Board for election by stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the
two-year period shall be deemed to have also been a director at the beginning of the two-year period; or 

  

	 	(c)	Sale of Assets: The Bank sells to a third party all or substantially all of its assets. 

  

	 	6.	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	 	7.	“Declared Rate” means the average prime interest rate for the Plan Year plus 1%, unless an alternative formula is otherwise determined by the Board for the Plan Year. The
Board shall establish any alternative Declared Rate formula effective for a specific Plan Year by a resolution of the Board no later than the Determination Date for the Plan Year. The Declared Rate shall be used for all interest determinations on
the Determination Date and during the Plan Year, as applicable. 

  

	 	8.	“Long-Term Incentive Award” means an award pursuant to Section 4.2 of the Plan. 

  

	 	9.	“Deferred Compensation Account” means the account maintained on the books of the Bank for each Participant pursuant to Article V. A Participant’s Deferred
Compensation Account shall be utilized solely as a device for the measurement and determination of the amounts to be paid to the Participant pursuant to this Plan. A Participant’s Deferred Compensation Account shall not constitute or be treated
as a trust fund of any kind. 

  

	 	10.	“Determination Date” means the date on which the amount of a Participant’s Deferred Compensation Account is determined as provided in Article V hereof. Unless
otherwise determined by the Board, the last day of each Plan Year shall be the Determination Date. 

  

	 	11.	“Disability” means the Participant’s suffering a sickness, accident or injury which has been determined by the carrier of any individual or group disability insurance
policy covering the Participant, or by the Social Security Administration, to be a disability rendering the Participant totally and permanently disabled. The Participant must submit proof to the Bank of the carrier’s or Social Security
Administration’s determination of Disability. 

  

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	 	12.	“Participant” means any officer of the Bank who is designated as a Participant by the Board for a Plan Year. 

  

	 	13.	“Plan Year” means a twelve-month period commencing January 1st and ending the following December 31st. The first Plan Year shall commence on November 15,
2005 and end on December 31, 2005. 

 Article IV 
 Participation and Long-Term Incentive Awards 
  

	Section 4.1	Participation. 

  

	 	a)	Each Plan Year, the Chief Executive Officer of the Bank (“CEO”) shall determine if a Long-Term Incentive (“LTI”) Award is to be made and, if so, select the
officer positions of the Bank for participation in the Plan. Participation in the Plan shall be limited to those officer positions of the Bank as approved and designated by resolution of the Board for a specific Plan Year, provided, however, that
each position identified in Appendix A to this Plan shall be eligible to participate for the 2005 and 2006 Plan Years. The initial positions identified in Appendix A are those officer positions deemed to have significant strategic responsibilities.

  

	 	b)	The Board may, upon designation of an officer position, establish such terms and conditions of individual officer participation as it deems appropriate, if any, including, but not
limited to, the vesting of any LTI Award that is different from the vesting specified in Section 4.3. 

  

	 	c)	Upon Board approval of a position’s eligibility to participate in a Plan Year, the CEO shall select the specific individuals from among the incumbents of eligible officer
positions to receive an LTI Award pursuant to Section 4.2. Designation of an officer position for a Plan Year shall not entitle the incumbent of the position to become a Participant in a specific Plan Year. The Board may terminate an
officer’s status as a Participant on a prospective basis, provided, however, that such termination shall not affect a Participant’s previously granted LTI Awards and the Participant’s Deferred Compensation Account.

  

	Section 4.2	Long-Term Incentive Award. 

  

	 	a)	The CEO shall recommend the LTI Award amount to grant to the incumbent of each eligible position. The Board shall determine and approve the LTI Award amount for the CEO. The Board
shall also approve the maximum aggregate LTI Award amount that may be granted to Participants for a specific Plan Year. 

  

	 	b)	Upon Board approval of the maximum aggregate LTI Award amount for a specific Plan Year, the CEO shall determine the Participants to receive an LTI Award for that specific Plan Year
and the amount of the LTI Award for a Participant. Such LTI Award for a specific Plan Year may be made by the CEO to a Participant at any time during the Plan Year, but the aggregate LTI Award amount to all Participants may not exceed the maximum
amount approved by the Board for the Plan Year. 

  

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	 	c)	The CEO shall provide the Participant with written notice of the LTI Award amount, the vesting provisions of the LTI Award, and any other provisions of the Plan deemed appropriate
by the CEO to be communicated to the Participant. 

  

	 	d)	Each Participant who receives an LTI Award for the Plan Year and is employed on the last day of the Plan Year shall have their LTI Award amount credited to their Deferred
Compensation Account as of the last day of the Plan Year to which the LTI Award relates. 

  

	Section 4.3	Vesting of Long-Term Incentive Awards. 

  

	 	(a)	Each LTI Award shall vest 60% on the third anniversary following the last day of the Plan Year to which the LTI Award relates, 80% on the fourth anniversary, and 100% on the fifth
anniversary, unless otherwise determined by the Board at the time the Participant is granted the LTI Award. 

  

	 	(b)	Notwithstanding the above, the Board may accelerate the vesting of any LTI Award based, in its sole judgment, on the performance of the Participant using any criteria it deems
appropriate. 

  

	 	(c)	All LTI Awards in a Participant’s Deferral Compensation Account shall automatically vest upon (i) the Participant’s death or Disability or (ii) upon the
occurrence of a Change in Control. 

 Article V 
 Deferred Compensation Account 
  

	Section 5.1	Determination of Account. 

  

	 	(a)	Each Participant’s Deferred Compensation Account as of each Determination Date shall consist of the balance of the Participant’s Deferred Compensation Account as of the
immediately preceding Determination Date, including interest accrued on the immediately preceding Determination Date pursuant to Section 5.2, plus the Participant’s LTI Award, if any, credited to the Participant’s Deferred
Compensation Account on the Determination Date. 

  

	 	(b)	The Deferred Compensation Account of each Participant shall be reduced by the amount of all distributions, if any, made from such Deferred Compensation Account since the preceding
Determination Date. 

  

	Section 5.2	Crediting of Account. 

  

	 	(a)	As of each Determination Date, the Participant’s Deferred Compensation Account shall be increased by the amount of interest earned since the preceding Determination Date.

  

	 	(b)	 The amount of interest earned shall be determined by multiplying the Declared Rate by the average daily balance of the Participant’s Deferred Compensation
Account since the immediately preceding Determination Date, not including the LTI Award amount credited to the Participant’s Deferred Compensation Account on the Determination Date. The amount of interest earned and credited to the
Participant’s 

  

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Deferred Compensation Account on the Determination Date shall vest pro rata to the vesting of the LTI Award amounts credited to the Participant’s
Deferred Compensation Account. 

 Article VI 
 Distributions 
  

	Section 6.1	Manner of Distribution. 

  

	 	(a)	Upon any Participant’s “separation from service”, except for Cause termination, within the meaning of Section 409A of the Code, the vested amount credited to a
Participant’s Deferred Compensation Account shall be distributed to him (or, in the event of his death before distribution, to his Beneficiary) in a single lump sum payment. 

  

	 	(b)	Upon any Participant’s termination for Cause, as determined in the sole discretion of the Board, all LTI Awards and vested Deferred Compensation Account balances shall be
forfeited, except for termination for Cause following a Change of Control that results in 100% vesting of any LTI Awards. 

  

	 	(c)	Notwithstanding anything herein to the contrary, a Participant may elect to receive distribution of his Deferred Compensation Account upon a change in control (as defined under
Section 409A of the Code and the regulations issued thereunder). 

  

	 	(d)	A Participant may also elect to receive vested Deferred Compensation Account amounts and the interest credited thereto at any date so specified by the Participant, but such date
shall be no earlier than five (5) years after the Plan Year in which the related LTI Award was granted. 

  

	Section 6.2	Distribution Date. 

 To the extent required
by Section 409A of the Code, the distribution of the Participant’s Deferred Compensation Account shall be made as soon as reasonably practicable following the date that is six months after the Participant’s separation from service.
Otherwise, payment shall be made not later than seventy-five (75) days following the Participant’s separation from service date or the date specified by the Participant in accordance with Paragraph 6.1 (d). 
  

	Section 6.3	Facility of Payment. 

 If at any time any
Participant who is to receive a distribution from their Deferred Compensation Account (“Distributee”) is, in the sole judgment and discretion of the Administrator, legally, physically, or mentally incapable of receiving any distribution
due to such Distributee, the distribution may be made to the guardian or legal representative of the Distributee, or, if none exists, to any other person or institution that, in the Administrator’s sole judgment and discretion, will apply the
distribution in the best interests of the intended Distributee. Any payment made in accordance with the provisions of this Section shall be a complete discharge of any liability for the making of such payment under the provisions of the Plan.

  

 5 

	Section 6.4	Taxes. 

 The Administrator shall make
provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the distribution of Deferred Compensation Account amounts pursuant to the terms of the Plan and shall pay amounts
withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by the Bank. 
 Article
VII 
 Beneficiary Designation 
  

	Section 7.1	Beneficiary Designation. 

 Each
Participant shall have the right, at any time, to designate any person or persons as his Beneficiary or Beneficiaries (both primary as well as contingent) to whom distributions under this Plan shall be paid in the event of the Participant’s
death prior to a distribution of the Participant’s Deferred Compensation Account. Any Participant Beneficiary designation shall be made in a written instrument filed with the Board and shall be effective only when received in writing by the
Board. 
  

	Section 7.2	Amendments. 

 Any Beneficiary designation may
be changed by a Participant by the written filing of such change on a form prescribed by the Board. The filing of a new Beneficiary designation form will cancel all Beneficiary designations previously filed. 
  

	Section 7.3	No Participant Designation. 

 If a
Participant fails to designate a Beneficiary as provided above or if all designated Beneficiaries predecease the Participant, then Participant’s designated Beneficiary shall be deemed to be the person or persons surviving him in the first of
the following classes in which there is a survivor, share and share alike: 
  

	 	(a)	The surviving spouse; 

  

	 	(b)	The Participant’s children, except that if any of the children predecease the Participant, but leave issue surviving, then such issue shall take per stirpes;

  

	 	(c)	The Participant’s estate. 

  

	Section 7.4	Effect of Payment. 

 Payment to the deemed
Beneficiary shall completely discharge the Bank’s obligations under this Plan. 
  

 6 

 Article VIII 
 Administration and Claim 
  

	Section 8.1	Administration. 

 The administration of the
Plan, the exclusive power to interpret it, and the responsibility for carrying out its provisions are vested in the Board, which may, by resolution, delegate such functions to a committee of the Board. The Board shall have the authority to resolve
any question under the Plan. The determination of the Board as to the interpretation of the Plan or any disputed question shall be conclusive and final to the extent permitted by applicable law. 
  

	Section 8.2	Claims Procedures. 

  

	 	(a)	Claims for payment under the Plan shall be submitted in writing to the Chairman of the Board or the Chairman of the Committee designated by the Board to administer the Plan.

  

	 	(b)	If any claim for payment is wholly or partially denied, the claimant shall be given written notice within a reasonable period following the date on which the claim is filed, which
notice shall set forth: 

  

	 	(i)	the specific reason or reasons for the denial; 

  

	 	(ii)	specific reference to pertinent Plan provisions on which the denial is based; 

  

	 	(iii)	a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and

  

	 	(iv)	an explanation of the Plan’s claim review procedure. 

 If the claim has not been granted and written notice of the denial of the claim is not furnished in a timely manner following the date on which the claim is filed, the claim shall be deemed denied for the purpose of proceeding to the claim
review procedure. 
  

	 	(c)	The claimant or his authorized representative shall have 30 days after receipt of written notification of denial of a claim to request a review of the denial by making written
request to the Chairman of the Board, and may review pertinent documents and submit issues and comments in writing within such 30-day period. 

  

	 	(d)	 After receipt of the request for review, the Board shall, in a timely manner, render and furnish to the claimant a written decision, which shall include specific
reasons for the decision and shall make specific references to pertinent Plan provisions on 

  

 7 

	 	 
which it is based. Such decision by the Board shall not be subject to further review. If a decision on review is not furnished to a claimant, the claim shall
be deemed to have been denied on review. 

  

	 	(e)	No claimant shall institute any action or proceeding in any state or federal court of law or equity or before any administrative tribunal or arbitrator for a claim for benefits
under the Plan until the claimant has first exhausted the provisions set forth in this section. 

 Article IX 

Amendment and Termination of Plan 
  

	Section 9.1	Amendment. 

 The Board may at any time amend
the Plan in whole or in part; provided, however, that no amendment shall be effective to decrease or restrict any Deferred Compensation Account maintained pursuant to any existing award under the Plan. Any change in the formula used to determine the
Declared Rate shall be prospective only and shall not become effective until the first day of the calendar year which follows the adoption of the amendment. 
  

	Section 9.2	Termination of Plan. 

 The Board may at any
time terminate the Plan if, in its judgment, the tax, accounting, or other effects of the continuance of the Plan, or potential payments thereunder would not be in the best interests of the Bank, but such termination shall not affect the Deferred
Compensation Accounts of Participants as of the date of termination and Participants shall continue to vest in LTI Awards granted prior to termination based on their service after the date of termination. Such LTI Awards and their deferral shall
otherwise remain subject to the terms of this Plan. 
 Article X 
 Miscellaneous 
  

	Section 10.1	Unsecured General Creditor. 

 Participants
and their Beneficiaries, heirs, successors and assigns shall have no secured interest or claim in any property or assets of the Bank, nor shall they be beneficiaries of, or have any rights, claims or interests in any life insurance policies, annuity
contracts or the proceeds there from owned or which may be acquired by the Bank (“Policies”). Such Policies or other assets of the Bank shall not be held under any trust for the benefit of Participants, their Beneficiaries, heirs,
successors or assigns, or held in any way as collateral security for the fulfillment of the Bank’s obligations under this Plan. Any and all of the Bank’s assets and Policies shall be, and remain, the general, unpledged, unrestricted assets
of the Bank. The Bank’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 
  

 8 

	Section 10.2	Non-Assignability. 

 Neither a Participant
nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part
thereof, which are, and all rights to which are, expressly declared to be unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts,
judgments, alimony or separate maintenance owed by a Participant or any other person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency. 
  

	Section 10.3	Not a Contract of Employment. 

 The terms and
conditions of this Plan shall not be deemed to constitute a contract of employment between the Bank and the Participant, and the Participant (or his Beneficiary) shall have no rights against the Bank except as may otherwise be specifically provided
herein. Moreover, nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of the Bank or to interfere with the right of the Bank to discipline or discharge a Participant at any time. 
  

	Section 10.4	Terms. 

 Whenever any words are used herein
in the masculine, they shall be construed as though they were used in the feminine in all cases where they would so apply; and wherever any words are used herein in the singular or in the plural, they shall be construed as though they were used in
the plural or the singular, as the case may be, in all cases where they would so apply. 
  

	Section 10.5	Captions. 

 The captions of the articles,
sections and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of any of its provisions. 
  

	Section 10.6	Governing Law. 

 The provisions of this Plan
shall be construed and interpreted according to the laws of the Commonwealth of Pennsylvania, unless preempted by federal law. 
  

	Section 10.7	Validity. 

 In case any provision of this
Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal and invalid provision had never been inserted herein.

  

 9 

	Section 10.8	Notice. 

 Any notice or filing required or permitted to be
given to the Bank under the Plan shall be sufficient if in writing and hand delivered, or sent by registered or certified mail, to the Chairman of the Board. Such notice shall be deemed given as of the date of delivery or, if delivery is made by
mail, as of three (3) days following the date shown on the postmark or on the receipt for registration or certification. 
  

	Section 10.9	Successors. 

 The provisions of this Plan
shall bind and inure to the benefit of the Bank and its successors and assigns. The term successors as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise, acquire all
or substantially all of the business and assets of the Bank and successors of any such corporation or other business entity. 
  

	Section 10.10	Effective Date. 

 The effective date of the
Plan is November 15, 2005. 
  

 10 

 Appendix A 
 Proposed Positions Eligible to Participate in the Plan 
  

										
	 Grade
	 	  	  	Mid-point	  	 	  	 Position

	CEO	 		  	$	300.0	  		  	President and Chief Executive Officer
	25	 		  	 	222.2	  		  	Chief Financial Officer
	25	 		  	 	222.2	  		  	Chief Lending Officer
	24	 		  	 	177.8	  		  	Chief Admin Officer
	23	 		  	 	148.2	  		  	Chief Credit Policy Officer
	22	 		  	 	123.5	  		  	SVP Commercial Lending
	21	 		  	 	102.9	  		  	VP Retail Banking
	21	 		  	 	102.9	  		  	VP Treasurer
	20	 		  	 	85.8	  		  	VP Controller
	17	 		  	 	74.6	  		  	VP Human Resources

  

 11

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