EXECUTIVE EMPLOYMENT AGREEMENT

Employee Retention Agreement

You are currently viewing:

This Employee Retention Agreement involves

FIRST CHESTER COUNTY CORPORATION | FIRST NATIONAL BANK OF CHESTER COUNTY

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.

Title: EXECUTIVE EMPLOYMENT AGREEMENT
Governing Law: Pennsylvania Date: 8/11/2008
Industry: BANKRG Law Firm: Saul Ewing Sector: FINANC

Search Employee Retention Agreement by:

EXECUTIVE EMPLOYMENT AGREEMENT

FIRST CHESTER COUNTY CORPORATION

THE FIRST NATIONAL BANK OF CHESTER COUNTY

and

JOHN A. FEATHERMAN, III

Page

1.	Employment	.........................................................................................	2

2.	Term	.........................................................................................	2

3.	Compensation	.........................................................................................	2

4.	Position and Responsibilities	.........................................................................................	3

5.	Termination	.........................................................................................	4

6.	Indemnification	.........................................................................................	9

7.	Expenses and Automobile	.........................................................................................	9

8.	Restrictive Covenant	.........................................................................................	9

9.	Binding Effect	.........................................................................................	11

10.	Notice	.........................................................................................	11

11.	Waiver of Breach	.........................................................................................	11

12.	Vested Benefits	.........................................................................................	12

13.	Savings Clause	.........................................................................................	12

14.	Governing Law	.........................................................................................	12

15.	Entire Agreement; Modification	.........................................................................................	12

EXHIBIT A

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT made this 27th day of June, 2008, by, between and among FIRST CHESTER COUNTY CORPORATION, a Pennsylvania business corporation, and THE FIRST NATIONAL BANK OF CHESTER COUNTY, a wholly-owned subsidiary of First Chester County Corporation and a national banking association with its principal offices located at 9 North High Street, West Chester, Pennsylvania (hereinafter individually referred to as Corporation and Bank respectively, and collectively referred to as FNB) and JOHN A. FEATHERMAN, III of West Chester, Pennsylvania (hereinafter referred to as Featherman).

RECITALS

Featherman is presently the Chairman of the Board of Directors and Chief Executive Officer of the Corporation and the Bank.

Feathermans leadership skills and services have constituted a major factor in the successful growth and development of FNB.

FNB recognizes that Feathermans contributions have been substantial and meritorious and, as such, Featherman has demonstrated unique qualifications to act in an executive capacity for FNB.

FNB desires to continue to employ and retain the experience and financial ability and services of Featherman as Chairman of the Board of Directors and Chief Executive Officer from the effective date hereof and to prevent any other business in competition with FNB from securing the benefit of his services, background and expertise in the banking business.

The terms, conditions and undertakings of this Agreement were submitted to and

duly approved and authorized by the Boards of Directors of both the Corporation and the Bank at separate meetings.

NOW, THEREFORE, in consideration of the foregoing recitals, which are hereby incorporated by reference, and intending to be legally bound hereby, the parties hereto agree as follows: