This Release Agreement involves
Title: TERMINATION AND RELEASE OF EMPLOYMENT AGREEMENT
TERMINATION AND RELEASE OF EMPLOYMENT AGREEMENT
This Termination and Release (“Termination and Release”) is entered into this 16th day of May, 2007 by and among J. David Lombardi (“Executive”), the First National Community Bank, with offices in Dunmore, Pennsylvania (“Bank”) and the First National Community Bancorp, Inc., a Pennsylvania corporation (“Corporation”).
WHEREAS, the Corporation, Bank and Executive entered into an Employment Agreement as of the 28 th day of February 1990, as amended, September 28, 1994, May 27, 1998, and July 8, 1998 which provides Corporation, Bank, and Executive with certain benefits and obligations (“Employment Agreement”);
WHEREAS, the parties have determined that it is in the best interests of the Corporation, Bank, and Executive to terminate the Employment Agreement and to release each other from their respective obligations under the Employment Agreement;