EMPLOYMENT AGREEMENT



      EMPLOYMENT AGREEMENT, dated as of _________ ___, 2005, between Prudential

Savings Bank, a Pennsylvania-chartered, stock-form savings bank (the "Bank" or

the "Employer"), and Joseph R. Corrato (the "Executive").



                                   WITNESSETH



      WHEREAS, the Executive is presently an officer of the Bank;



      WHEREAS, the Employer desires to be ensured of the Executive's continued

active participation in the business of the Employer; and



      WHEREAS, in order to induce the Executive to remain in the employ of the

Employer and in consideration of the Executive's agreeing to remain in the

employ of the Employer, the parties desire to specify the severance benefits

which shall be due the Executive in the event that his employment with the

Employer is terminated under specified circumstances.



      NOW THEREFORE, in consideration of the premises and the mutual agreements

herein contained, the parties hereby agree as follows:



      1.    DEFINITIONS. The following words and terms shall have the meanings

set forth below for the purposes of this Agreement:



      (a)   AVERAGE ANNUAL COMPENSATION. The Executive's "Average Annual

Compensation" for purposes of this Agreement shall be deemed to mean the average

amount of Base Salary and cash bonus received by the Executive from the Employer

or any subsidiary thereof (excluding any deferred amounts) during the most

recent five calendar years preceding the Date of Termination (or such shorter

period as the Executive was employed).



      (b)   BASE SALARY. "Base Salary" shall have the meaning set forth in

Section 3(a) hereof.



      (c)   CAUSE. Termination of the Executive's employment for "Cause" shall

mean termination because of personal dishonesty, incompetence, willful

misconduct, breach of fiduciary duty involving personal profit, intentional

failure to perform stated duties, willful violation of any law, rule or

regulation (other than traffic violations or similar offenses) or final

cease-and-desist order, willful conduct which is materially detrimental

(monetarily or otherwise) to the Employer or material breach of any provision of

this Agreement.



      (d)   CHANGE IN CONTROL OF THE CORPORATION. "Change in Control of the

Corporation" shall mean the occurrence of any of the following: (i) an event

that would be required to be reported by, or with respect to, the Corporation in

response to Item 5.01 of Form 8-K or Item 6(e) of Schedule 14A of Regulation 14A

pursuant to the Securities Exchange Act of 1934, as amended



<PAGE>



("Exchange Act"), or any successor thereto, whether or not any class of

securities of the Corporation is registered under the Exchange Act; (ii) any

"person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)

other than the MHC is or becomes the "beneficial owner" (as defined in Rule

13d-under the Exchange Act), directly or indirectly, of securities of the

Corporation representing 20% or more of the combined voting power of the

Corporation's then outstanding securities; or (iii) during any period of three

consecutive years, individuals who at the beginning of such period constitute

the Board of Directors of the Corporation cease for any reason to constitute at

least a majority thereof unless the election, or the nomination for election by

stockholders, of each new director was approved by a vote of at least two-thirds

of the directors then still in office who were directors at the beginning of the

period; provided, however, that no Change in Control of the Corporation shall be

deemed to have occurred solely because the MHC undertakes a "second-step" mutual

to stock conversion.



      (e)   CODE. "Code" shall mean the Internal Revenue Code of 1986, as

amended.



      (f)   CORPORATION. "Corporation" shall mean Prudential Bancorp, Inc. of

Pennsylvania, the "mid-tier" holding company for the Bank, or any successor

thereto.



      (g)   DATE OF TERMINATION. "Date of Termination" shall mean (i) if the

Executive's employment is terminated for Cause or for Disability, the date

specified in the Notice of Termination, and (ii) if the Executive's employment

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