EMPLOYMENT AGREEMENTEmployment Agreement • October 15th, 2020 • William Penn Bancorporation • Pennsylvania
This Employment Agreement (this “Agreement”) is made effective as of July 1, 2020 by and between William Penn Bancorp, Inc. (“Bancorp”), William Penn Bank (the “Bank”) and Jill M. Ross (the “Executive”). Bancorp and the Bank are collectively referred to herein as the “William Penn Entities.” The William Penn Entities and William Penn, MHC (the “MHC”) are collectively referred to herein as the “Employer”.
AGREEMENTAgreement • October 15th, 2020 • William Penn Bancorporation • Pennsylvania
THIS AGREEMENT (the “Agreement”), dated this 4th day of August 2020, is by and among William Penn Bancorp, Inc. (the “Company”), William Penn, MHC (the “MHC”), WPH Holding Company, a newly formed Maryland corporation (“WPH”), and William Penn Bank (the “Bank” and, together with the Company, WPH and the MHC, “William Penn”), on the one hand, and Tyndall Capital Partners LP (“Tyndall”) and Jeffrey S. Halis, an individual (collectively, the “Tyndall Group” and individually, a “Tyndall Group Member”), on the other hand.
Chief EXECUTIVE OFFICER EMPLOYMENT AGREEMENTChief Executive Officer Employment Agreement • October 15th, 2020 • William Penn Bancorporation • Pennsylvania
This Employment Agreement was originally entered into on December 6, 2017 by and among William Penn Bancorp, Inc. (“Bancorp”), William Penn Bank (the “Bank”) and Kenneth J. Stephon (the “Executive”) and is hereby amended and restated in its entirety effective July 1, 2020 (this “Agreement”). Bancorp and the Bank are collectively referred to herein as the “William Penn Entities.” The William Penn Entities and William Penn, MHC (the “MHC”) are collectively referred to herein as the “Employer”.
