EXHIBIT 10.36
AMENDATORY AGREEMENT
AMENDATORY AGREEMENT dated August 23, 2000, between NATIONAL PENN
BANCSHARES, INC., a Pennsylvania business corporation ("NPB"), NATIONAL PENN
BANK, a national banking association ("Bank"), and XXXXX X. XXXXXX
("Executive").
BACKGROUND
1. NPB, Bank and Executive entered into a certain Executive Agreement
dated as of August 26, 1998 (the "Agreement").
2. NPB, Bank and Executive desire to amend the Agreement as hereinafter
set forth.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises contained
herein, and each intending to be legally bound, NPB, Bank and Executive agree as
follows:
1. Amendment. The reference to "Boyertown, Pennsylvania" contained in
Section 2.d of the Agreement is hereby changed to be a reference to "Allentown,
Pennsylvania".
2. Ratification. As amended hereby, the Agreement is hereby ratified,
confirmed and approved.
3. Governing Law. This Amendatory Agreement shall be governed by and
construed in accordance with the domestic internal law of the Commonwealth of
Pennsylvania.
IN WITNESS WHEREOF, the parties hereto have executed this Amendatory
Agreement on the date first above written.
NATIONAL PENN BANCSHARES, INC.
By:/s/Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
Title: President
NATIONAL PENN BANK
By:/s/Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
Title: President and Chief
Executive Officer
Witness:/s/Xxxx X. Xxxxxx /s/Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx