EMPLOYMENT AGREEMENT

EXHIBIT 10.3

THIS AGREEMENT (“Agreement”) is made this January 27, 2009, between RIVERVIEW FINANCIAL CORPORATION (“Corporation”), a Bank having a place of business at Third and Xxxxxx Xxxxxxx, Xxxxxxx, Xxxxxxxxxxxx 00000, RIVERVIEW NATIONAL BANK (“Bank”), a bank having a place of business at 000 Xxxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxxxx 00000; and Xxxxx Xxxxx (“Executive”), an individual residing in Pennsylvania.

WITNESSETH:

WHEREAS, Bank is a subsidiary of Corporation;

WHEREAS, Bank desires to employ Executive as Chief Financial Officer of Corporation and Bank (“CFO”); and

WHEREAS, Executive desires to accept that assignment under the terms and conditions set forth herein.

AGREEMENT:

NOW, THEREFORE, the parties hereto intending to be legally bound hereby agree as follows:

1. Employment.

Corporation and Bank hereby employ Executive and Executive hereby accepts employment with Corporation and Bank on the terms and conditions set forth in this Agreement.

2. Duties and Positions of Employee.

(a) Executive shall perform and discharge well and faithfully such duties as CFO as may be assigned to Executive from time to time by the Chief Executive Officer (“CEO”) or President of Corporation or Bank. Executive shall devote her full time, attention and energies to the business of Corporation and Bank during the Employment Period (as defined in Section 3 of this Agreement);

(b) Provided however, that this Section 2 shall not be construed as preventing Executive from (a) engaging in activities incident or necessary to personal investments so long as such investment does not exceed 5% of the outstanding shares of any publicly held company, (b) devoting a reasonable amount of time to civic, charitable, trade association, political and similar activities with the prior approval of the CEO or

President of Bank, which approval will not be unreasonably withheld; or (c) acting as a member of the Board of Directors of any other corporation or as a member of the Board of Trustees of any other organization, with the prior approval of the CEO or President of Bank, which approval will not be unreasonably withheld. The Executive shall not engage in any business or commercial activities, duties or pursuits that compete with the business or commercial activities of Corporation or Bank, or any of their subsidiaries or affiliates, nor may the Executive serve as a director or officer or in any other capacity in a company that competes with Corporation or Bank or any of their subsidiaries or affiliates.

3. Term of Agreement.

(a) This Agreement shall be for a one (1) year period (the “Employment Period”) beginning on the date first mentioned above and ending one (1) year later. On the first anniversary of the date of this Agreement, and on the same date of each subsequent year (each, a “Renewal Date”) the Employment Period shall be automatically extended for an additional year such that the Employment Period shall end one (1) year from each Renewal Date, unless either party shall give written notice of non-renewal to the other party at least ninety (90) days prior to that Renewal Date, in which event this Agreement shall terminate at the end of the then existing Employment Period.

(b) Notwithstanding the provisions of Section 3(a) of this Agreement, this Agreement shall terminate automatically for Cause (as defined herein) upon written notice from the CEO or President to Executive. As used in this Agreement, “Cause” shall mean any of the following:

(i) Executive’s conviction of or plea of guilty or nolo contendere to a felony, a crime of falsehood or a crime involving moral turpitude, or the actual incarceration of Executive;

(ii) Executive’s willful failure to follow the good faith lawful instructions of the President or CEO with respect to the operations of Corporation and Bank;

(iii) Executive’s willful failure to perform Executive’s duties to Corporation or Bank (other than a failure resulting from Executive’s incapacity because of physical or mental illness, as provided in subsection (d) of this Section 3), which failure results in injury to Corporation or Bank, monetarily or otherwise;

(iv) Executive’s intentional violation of the provisions of this Agreement;

(v) dishonesty or gross negligence of the Executive in the performance of her duties;

(vi) conduct on the part of the Executive that brings public discredit to Corporation or Bank;

(vii) Executive’s breach of fiduciary duty involving personal gain;

(viii) Executive’s willful violation of any law, rule or regulation governing banks or bank officers or any final cease and desist order issued by a bank regulatory authority;

(ix) Executive’s unlawful discrimination, including harassment, against employees, customers, business associates, contractors or visitors of Corporation or Bank;

(x) Executive’s theft or abuse of Corporation or Bank’s property or the property of customers, employees, contractors, vendors or business associates of Corporation or Bank;

(xi) any final removal or prohibition order to which the Executive is subject, by a federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act; or

(xii) any act of fraud or misappropriation by Executive.

If this Agreement is terminated for Cause, Executive’s rights under this Agreement shall cease as of the effective date of such termination and Corporation and Bank shall have no further obligation under this Agreement.

(c) Notwithstanding the provisions of Section 3(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s voluntary termination of employment (other than in accordance with Section 5 of this Agreement) for Good Reason. The term “Good Reason” shall mean (i) the assignment of duties and responsibilities inconsistent with Executive’s status as CFO or (ii) a reduction in salary or benefits, except such reductions that are the result of a national financial depression or national or bank emergency when such reduction has been implemented by the Board of Directors for Corporation or Bank’s senior management, then Executive shall within ninety (90) days of the occurrence of any of the foregoing events, provide notice to Corporation and Bank of the existence of the condition and provide Corporation and Bank thirty (30) days in which to cure such condition. In the event that Corporation and Bank does not cure the condition within thirty (30) days of such notice, Executive may resign from employment with Corporation and Bank and upon execution of a reasonable release satisfactory to Corporation and Bank, Corporation and Bank will provide Executive with the following pay and benefits: (i) a payment in an amount equal to 1.0 times the Executive’s then Annual Base Salary payable in twelve (12) equal monthly installments; and (ii) Corporation and Bank shall reimburse Executive in an amount equal to the monthly premium paid by her to obtain substantially similar employee benefits which she enjoyed prior to termination, which reimbursement shall continue until the expiration of 12 months following the date of termination of employment or until Executive secures substantially similar benefits through other employment, whichever

shall first occur, subject to Internal Revenue Code of 1986, as amended (“Code”) Section 409A if applicable.

However, in the event the payments described herein, when added to all other amounts or benefits provided to or on behalf of the Executive in connection with her termination of employment, would result in the imposition of an excise tax under Code Section 4999, the severance payments shall be retroactively (if necessary) reduced to the extent necessary to avoid such excise tax imposition. Upon written notice to Executive, together with calculations of Corporation’s and Bank’s independent auditors, Executive shall remit to Corporation and Bank the amount of the reduction plus such interest as may be necessary to avoid the imposition of such excise tax. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, if any portion of the amount herein payable to the Executive is determined to be non-deductible pursuant to the regulations promulgated under Code Section 280G, then Corporation and Bank shall be required only to pay to Executive the amount determined to be deductible under Section 280G.

If when the Executive’s employment terminates, the Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i), then despite any provision of this Employment Agreement or other plan or agreement to the contrary, the Executive will not be entitled to the payments until the earliest of: (a) the date that is at least six months after the Executive’s separation from service (within the meaning of Code Section 409A) for reasons other than the Executive’s death, (b) the date of the Executive’s death, or (c) any earlier date that does not result in additional tax or interest to the Executive under Code Section 409A. As promptly as possible after the end of the period during which payments are delayed under this provision, the entire amount of the delayed payments shall be paid to the Executive in a single lump sum with any remaining payments to commence in accordance with the terms of this Agreement or other applicable plan or agreement.

The amounts payable pursuant to this Section 3(c) shall constitute Executive’s sole and exclusive remedy in the event Executive terminates employment for Good Reason and shall represent the maximum extent of liability that Executive can claim against Corporation or Bank.

(d) Notwithstanding the provisions of Section 3(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s Disability and Executive’s rights under this Agreement shall cease as of the date of such termination; provided, however, that Executive shall be entitled to any benefits under any group disability plan if effect.

(e) Notwithstanding the provisions of Section 3(a) of this Agreement, this Agreement shall terminate automatically upon Executive’s death, and Executive’s rights under this Agreement (other than vested plan benefits) shall cease as of the date of such termination.

(f) Executive agrees that in the event her employment under this Agreement is terminated, Executive shall resign, and upon such event does hereby resign, as a director of Corporation and Bank, the Bank and any affiliate or subsidiary thereof, if she is then serving as a director of any such entities.

(g) Executive agrees that in the event that Bank provides notice of nonrenewal of this Agreement under Section 3(a), Bank shall have no further obligation under this Agreement, other than payment to Executive of her earned but unpaid Annual Base Salary under Section 4(a) and any employee benefits under Section 4(d), (e), or (f), as of the date of the expiration of this Agreement or until Executive voluntarily terminates her employment, whichever occurs earlier. In the event that Bank provides notice of nonrenewal of this Agreement under Section 3(a), Bank may terminate Executive’s employment and shall have no further obligation under this Agreement other than payment to Executive of the remaining balance of her Annual Base Salary as defined in Section 4(a) below and any employee benefits under Section 4(d) for the remainder of the then existing Employment Period. To the extent the Executive becomes entitled to the payments set forth in this Section 3(g), such payments shall constitute Executive’s sole and exclusive remedy under this Agreement, shall further constitute liquidated damages for any possible breach of this Agreement, and shall represent the maximum extent of liability that Executive can claim against Corporation or Bank.

4. Employment Period Compensation.

(a) Annual Base Salary. For services performed by Executive under this Agreement, Corporation and Bank shall pay Executive an Annual Base Salary in the aggregate during the Employment Period at the rate of $120,000 per year, payable at the same times as salaries are payable to other executives of the Corporation and Bank. Corporation and Bank shall review Executive’s performance and salary at least on an annual basis. Corporation and Bank may, from time to time, in its sole discretion, increase Executive’s Annual Base Salary, and any and all such increases shall be deemed to constitute amendments to this Section 4(a) to reflect the increased amounts, effective as of the date established for such increases by the CEO or President of Corporation and Bank or any committee of such Board or the Chief Executive Officer with the approval of the Compensation Committee of the Board in the resolutions authorizing such increases.

(b) Bonuses. Executive shall be entitled to a $10,000 signing bonus; provided that Executive remains employed with Corporation and Bank for twelve months. In the event that within twelve months of the signing of this Agreement, Executive terminates employment for reasons other than Good Reason or if Executive is terminated by the Bank for Cause, then Executive shall refund, reimburse, return and pay Bank the signing bonus amount of $10,000. Executive hereby agrees that in the event that Executive does not pay Bank the $10,000 owed under this Section prior to Executive receiving her last payroll check, Executive hereby authorizes Bank to deduct from Executive’s last payroll check to the extent necessary any amount still owing to Bank.

In addition, Corporation or Bank may, from time to time, pay a bonus or bonuses to Executive as Corporation or Bank or an affiliate thereof, in their sole discretion, deems appropriate. The payment of any such bonuses shall not reduce or otherwise affect any other obligation of Corporation or Bank to Executive provided for in this Agreement.

(c) Vacations. During the term of this Agreement, Executive shall be entitled to twenty-five (25) days paid time off in accordance with the policies as established from time to time by the CEO or President of Corporation and Bank. Bank shall allow Executive to work from home one day per week and shall allow Executive to work from home in the event of inclement weather without such absences from the office reducing Executive’s accrued paid time off balance.

(d) Employee Benefit Plans. During the term of this Agreement, Executive may participate in and receive the benefits of any employee benefit plan currently in effect at Bank subject to the terms of such plans, until such time that the Board of Directors of the Bank and Corporation authorizes a change in such benefits. Nothing paid to Executive under any plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to Executive pursuant to Section 4(a) hereof.

5. Termination of Employment Following Change in Control.

(a) If a Change in Control (as defined in Section 5(b) of this Agreement) shall occur, and if thereafter at any time during the term of this Agreement there shall be:

(i) any involuntary termination of Executive’s employment (other than for the reasons set forth in Section 3(b) or 3(d) of this Agreement);

(ii) any reduction in Executive’s title, responsibilities, including reporting responsibilities, or authority, including such title, responsibilities or authority as such title, responsibilities or authority may be increased from time to time during the term of this Agreement;

(iii) the assignment to Executive of duties inconsistent with Executive’s office on the date of the Change in Control or as the same may be increased from time to time after the Change in Control;

(iv) any reassignment of Executive to a location greater than seventy-five (75) miles from the location of Executive’s office on the date of the Change in Control;

(v) any reduction in Executive’s Annual Base Salary in effect on the date of the Change in Control or as the same may be increased from time to time after the Change in Control; or

(vi) any failure to provide Executive with benefits at least as favorable as those enjoyed by Executive under any of Corporation or Bank’s retirement or pension, life insurance, medical, health and accident, disability or other employee plans in which Executive participated at the time of the Change in Control, or the taking of any action that would materially reduce any of such benefits in effect at the time of the Change in Control; or any requirement that Executive travel in performance of her duties on behalf of the Corporation or Bank or any of its subsidiaries or affiliates for a significantly greater period of time during any year than was required of Executive during the year preceding the year in which the Change in Control occurred; then, at the option of Executive, Executive shall within ninety (90) days of the occurrence of any of the foregoing events, provide notice to Corporation and Bank of the existence of the condition and provide Corporation and Bank thirty (30) days in which to cure such condition. In the event that Corporation and Bank does not cure the condition within thirty (30) days of such notice, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) by delivering such notice in writing (the “Notice of Termination”) to Corporation and Bank and the provisions of Section 6 of this Agreement shall apply.

(b) As used in this Agreement, “Change in Control” shall mean a change in the ownership or effective control of the Corporation or the Bank as described in Code Section 409A(a)(2)(A) and the regulations thereunder.

6. Rights in Event of Termination of Employment Following Change in Control.

In the event that Executive delivers a Notice of Termination (as defined in Section 5(a) of this Agreement) after a “Change in Control” (as defined in Section 5(b) of this Agreement) to Corporation and Bank, Executive shall be entitled to receive (i) a payment in an amount equal to and no greater than 1.0 times the Executive’s then Annual Base Salary, which amount shall be payable in twelve (12) equal monthly installments commencing within thirty (30) days of receiving an executed release subject to the requirements of Code Section 409A; and (ii) Corporation and Bank shall reimburse Executive in an amount equal to the monthly premium paid by her to obtain substantially similar employee benefits which she enjoyed prior to termination, which reimbursement shall continue until the expiration of 12 months following the date of termination of employment or until Executive secures substantially similar benefits through other employment, whichever shall first occur, subject to Code Section 409A if applicable.

foregoing or any other provision of this Agreement to the contrary, if any portion of the amount herein payable to the Executive is determined to be non-deductible pursuant to the regulations promulgated under Section 280G of the Code, then Corporation and Bank shall be required only to pay to Executive the amount determined to be deductible under Section 280G.

(b) Executive shall not be required to mitigate the amount of any payment provided for in this Section 6 by seeking other employment or otherwise. Unless otherwise agreed to in writing, the amount of payment or the benefit provided for in this Section 6 shall not be reduced by any compensation earned by Executive as the result of employment by another employer or by reason of Executive’s receipt of or right to receive any retirement or other benefits after the date of termination of employment or otherwise.

(c) The amounts payable pursuant to this Section 6 shall constitute Executive’s sole and exclusive remedy in the event Executive delivers a Notice of Termination after a change in control and shall represent the maximum extent of liability that Executive can claim against Corporation and Bank.

7. Rights in Event of Termination of Employment Absent Change in Control.

(a) In the event that Executive’s employment is involuntarily terminated by Corporation and Bank without Cause and no Change in Control shall have occurred as of the date of such termination, upon execution of a reasonable release satisfactory to Corporation and Bank, Corporation and Bank will provide Executive with the following pay and benefits: (i) a payment in an amount equal to 1.0 times the Executive’s then Annual Base Salary payable in twelve (12) equal monthly installments; and (ii) Corporation and Bank shall reimburse Executive in an amount equal to the monthly premium paid by her to obtain substantially similar employee benefits which she enjoyed prior to termination, which reimbursement shall continue until the expiration of 12 months following the date of termination of employment or until Executive secures substantially similar benefits through other employment, whichever shall first occur, subject to Code Section 409A if applicable.

However, in the event the payments described herein, when added to all other amounts or benefits provided to or on behalf of the Executive in connection with her termination of employment, would result in the imposition of an excise tax under Code Section 4999, the severance payments shall be retroactively (if necessary) reduced to the extent necessary to avoid such imposition. Upon written notice to Executive, together with calculations of Corporation and Bank’s independent auditors, Executive shall remit to Corporation and Bank the amount of the reduction plus such interest as may be necessary to avoid the imposition of such excise tax. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, if any portion of the amount herein payable to the Executive is determined to be non-deductible pursuant to the regulations promulgated under Section 280G of the Code, then Corporation and Bank shall be required only to pay to Executive the amount determined to be deductible under Section 280G.

(b) Executive shall not be required to mitigate the amount of any payment provided for in this Section 7 by seeking other employment or otherwise. The amount of payment or the benefit provided for in this Section 7 shall not be reduced by any compensation earned by Executive as the result of employment by another employer or by reason of Executive’s receipt of or right to receive any retirement or other benefits after the date of termination of employment or otherwise.

(c) The amounts payable pursuant to this Section 7 shall constitute Executive’s sole and exclusive remedy in the event of involuntary termination of Executive’s employment by Corporation and Bank without cause in the absence of a Change in Control and shall represent the maximum extent of liability that Executive can claim against Corporation and Bank.

(d) This Section 7 shall not apply if the Executive is terminated in connection with nonrenewal as provided in Section 3 of this Agreement.

8. Covenant Not to Compete

(a) Executive hereby acknowledges and recognizes the highly competitive nature of the business of Corporation and Bank and accordingly agrees that, during her employment and for one year following the date of termination of Executive’s employment, regardless of the reason for termination, Executive shall not:

(i) in any county in which, at any time during the Employment Period or as of the date of termination of the Executive’s employment, a branch, office or other facility of Corporation and Bank or any of its subsidiaries is located, or in any county contiguous to such a county, including contiguous counties located outside of the Commonwealth of Pennsylvania (the “Non-Competition Area”) be engaged, directly or indirectly, either for her own account or as agent consultant, employee, partner, officer, director, proprietor, investor (except as an investor owning less than 5% of the stock of a publicly owned company and not exercising management discretion) or otherwise of any

person, firm, Bank or enterprise engaged in the banking (including bank and financial holding company) or financial services industry, or any other activity in which Corporation and Bank or any of its subsidiaries are engaged during the Employment Period; or

(ii) in the Non-Competition area provide financial or other assistance to any person, firm, Bank, or enterprise engaged in the banking (including bank and financial holding company) or financial services industry, or any other activity in which Corporation and Bank or any of its subsidiaries are engaged during the Employment Period; or

(iii) directly or indirectly contact, solicit or attempt to induce any person, Bank or other entity who or which is a customer or referral source of Corporation and Bank, or any of its subsidiaries or affiliates, during the term of Executive’s employment or on the date of termination of Executive’s employment, to become a customer or referral source of any person or entity other than Corporation and Bank or one of its subsidiaries or affiliates; or

(iv) directly or indirectly solicit, induce or encourage any employee of Corporation and Bank or any of its subsidiaries or affiliates, who is employed during the term of Executive’s employment or on the date of termination of Executive’s employment, to leave the employ of Corporation and Bank or any of its subsidiaries or affiliates, or to seek, obtain or accept employment with any person or entity other than Corporation and Bank or any of their subsidiaries or affiliates.

(b) It is expressly understood and agreed that, although Executive and Corporation and Bank consider the restrictions contained in Section 8(a) hereof reasonable for the purpose of preserving for Corporation and Bank and its subsidiaries their good will and other proprietary rights, if a final judicial determination is made by a court having jurisdiction that the time or territory or any other restriction contained in Section 8(a) hereof is an unreasonable or otherwise unenforceable restriction against Executive, the provisions of Section 8(a) hereof shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such other extent as such court may judicially determine or indicate to be reasonable.

9. Unauthorized Disclosure. During the term of her employment hereunder, or at any later time, the Executive shall not, without the written consent of the Board of Directors of Corporation and Bank or a person authorized thereby, knowingly disclose to any person, other than an employee of the Corporation and Bank, Corporation and Bank or a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by the Executive of her duties as CFO of Corporation and Bank, any material confidential information obtained by her while in the employ of Corporation and Bank with respect to any of Corporation and Bank’s services, products, improvements, formulas, designs or styles, processes, customers, methods of business or any business practices the disclosure of which could be or will be damaging to Corporation and Bank; provided, however, that confidential information shall not include any information known

generally to the public (other than as a result of unauthorized disclosure by the Executive or any person with the assistance, consent or direction of the Executive) or any information of a type not otherwise considered confidential by persons engaged in the same business or a business similar to that conducted by Corporation and Bank or any information that must be disclosed as required by law.

10. Work Made for Hire. Any work performed by the Executive under this Agreement should be considered a “Work Made for Hire” as that phrase is defined by the U.S. patent laws. In the event it should be established that such work does not qualify as a Work Made for Hire, the Executive agrees to and does hereby assign to Corporation and Bank and its affiliates and subsidiaries, all of her rights, title, and/or interest in such work product, including, but not limited to, all copyrights, patents, trademarks, and property rights.

11. Return of Company Property and Documents. The Executive agrees that, at the time of termination of her employment, regardless of the reason for termination, she will deliver to Corporation and Bank, any and all Corporation and Bank property, including, but not limited to, automobiles, keys, security codes or passes, mobile telephones, pagers, computers, devices, confidential information, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, software programs, equipment, other documents or property, or reproductions of any of the aforementioned items developed or obtained by the Executive during the course of her employment.

12. Liability Insurance. Corporation and Bank shall use its best efforts to obtain insurance coverage for the Executive under an insurance policy covering officers and directors of Corporation and Bank against lawsuits, arbitrations or other legal or regulatory proceedings; however nothing herein shall be construed to require Corporation and Bank to obtain such insurance, if the President or CEO of Corporation and Bank determines that such coverage cannot be obtained at a reasonable price.

13. Notices. Except as otherwise provided in this Agreement, any notice required or permitted to be given under this Agreement shall be deemed properly given if in writing and if mailed by registered or certified mail, postage prepaid with return receipt requested, to Executive’s residence, in the case of notices to Executive; to the principal executive offices of the Bank, in the case of notices to the Bank and to the principal executive offices of Corporation, in the case of notices to Corporation.

14. Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and the Board of Directors’ designee. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

15. Assignment. This Agreement shall not be assignable by any party, except by Corporation and Bank to any successor in interest to its respective businesses.

16. Entire Agreement. This Agreement contains the entire agreement of the parties and supersedes all other agreements, written or oral, between the parties relating to the subject matter of this Agreement.

17. Successors, Binding Agreement.

(a) Corporation and Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the businesses and/or assets of Corporation and Bank to expressly assume and agree to perform this Agreement in the same manner and to the same extent that Corporation and Bank would be required to perform it if no such succession had taken place. Failure by Corporation and Bank to obtain such assumption and agreement prior to the effectiveness of any such succession shall constitute a breach of this Agreement and the provisions of Section 6 of this Agreement shall apply. As used in this Agreement “Corporation and Bank” shall mean Corporation and Bank, as defined previously and any successor to its respective businesses and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise.

(a) This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, heirs, distributees, devisees and legatees. If Executive should die after she has delivered a Notice of Termination to Bank pursuant to Section 5 above, or following Corporation and Bank’s termination of Executive’s employment without Cause, such amounts that would have been payable to Executive under this Agreement if Executive had continued to live, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee, or, if there is no such designee, to Executive’s estate.

18. Arbitration. Corporation and Bank and Executive recognize that in the event a dispute should arise between them concerning the interpretation or implementation of this Agreement, lengthy and expensive litigation will not afford a practical resolution of the issues within a reasonable period of time. Consequently, each party agrees that all disputes, disagreements and questions of interpretation concerning this Agreement (except for any enforcement sought with respect to Sections 8, 9, 10 or 11, which maybe litigated in court through an action for an injunction or other relief) are to be submitted for resolution, in Cumberland County, Pennsylvania, to the American Arbitration Association (the “Association”) in accordance with the Association’s National Rules for the Resolution of Employment Disputes or other applicable rules then in effect (“Rules”). Corporation and Bank or Executive may initiate an arbitration proceeding at any time by giving notice to the other in accordance with the Rules. Corporation and Bank and Executive may, as a matter or right, mutually agree on the appointment of a particular arbitrator from the Association’s pool. The arbitrator shall not be bound by the rules of evidence and procedure of the courts of the Commonwealth of Pennsylvania but shall be bound by the substantive law applicable to this Agreement. The decision of the arbitrator,

absent fraud, duress, incompetence or gross and obvious error of fact, shall be final and binding upon the parties and shall be enforceable in courts of proper jurisdiction. Following written notice of a request for arbitration, Corporation and Bank and Executive shall be entitled to an injunction restraining all further proceedings in any pending or subsequently filed litigation concerning this Agreement, except as otherwise provided herein or any enforcement sought with respect to Sections 8, 9, 10 or 11, which may be litigated through an action for injunction or other relief.

19. Validity. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

20. Applicable Law. This Agreement shall be governed by and construed in accordance with the domestic, internal laws of the Commonwealth of Pennsylvania, without regard to its conflicts of laws principles.

21. Headings. The section headings of this Agreement are for convenience only and shall not control or affect the meaning or construction or limit the scope or intent of any of the provisions of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

ATTEST:		RIVERVIEW FINANCIAL CORPORATION


By:	/s/ Xxxxx Xxxx	By:	/s/ Xxxxxx X. Xxxxx
			Xxxxxx X. Xxxxx
			Chief Executive Officer

		RIVERVIEW NATIONAL BANK


By:	/s/ Xxxxx Xxxx	By:	/s/ Xxxxxx X. Xxxxx
			Xxxxxx X. Xxxxx
			Chief Executive Officer


WITNESS:		EXECUTIVE


/s/ Xxxxx Xxxx		/s/ Xxxxx Xxxxx
		Xxxxx Xxxxx

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EMPLOYMENT AGREEMENT

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