Amendment No. 9 to National Penn Bancshares, Inc. Capital Accumulation Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

National Penn Bancshares, Inc. has amended its Capital Accumulation Plan, which benefits certain employees of the company and its subsidiaries. This amendment, executed on March 29, 2005, updates Schedule A of the Plan to include three additional entities—Pennsurance, Inc., D.E. Love Associates, Inc., and Krombolz Agency, Inc.—with specified effective dates. The amendment ensures employees of these entities are now covered by the Plan.

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EX-10.1 2 exhibit10-1.htm NATIONAL PENN BANCSHARES EXHIBIT 10.1 National Penn Bancshares exhibit 10.1

EXHIBIT 10.1


NATIONAL PENN BANCSHARES, INC. CAPITAL ACCUMULATION PLAN
(Amended and Restated Effective January 1, 1997)

(Revised 2001)

Amendment No. 9

National Penn Bancshares, Inc. (the "Company") adopted the National Penn Bancshares, Inc. Capital Accumulation Plan (Amended and Restated Effective January 1, 1997) (Revised 2001)(the "Plan") for the benefit of certain of its Employees (as defined in the Plan) and its subsidiaries' Employees. The Company subsequently amended the Plan by Amendment Nos. 1-8 thereto.

The Company hereby amends Schedule A to the Plan to make entries under the heading "Entity" and "Date" as hereinafter set forth.


Entity
Date
   
Pennsurance, Inc.
July 1, 2004
   
D.E. Love Associates, Inc.
December 1, 2004
   
Krombolz Agency, Inc.
January 1, 2005
 



Executed this 29th day of March, 2005.


Attest:
NATIONAL PENN BANCSHARES, INC.
   
   
By:  /s/ Earl Houseknecht
By:  /s/ Sharon L.Weaver
 
Chair, Administrative Committee
(Corporate Seal)