Preview | Employment Agreement |

THIS AGREEMENT, made as of the 19th day of September 2005, among LEESPORT FINANCIAL CORP. (Company), a Pennsylvania business corporation having a place of business at 1240 Broadcasting Road, Wyomissing, Pennsylvania, LEESPORT BANK (Bank), a state banking institution having a place of business at 1240 Broadcasting Road, Wyomissing, Pennsylvania, and ROBERT D. DAVIS (Executive), an adult individual residing at 42 Rosewood Lane, Malvern, Pennsylvania.

WHEREAS, Company and Bank desire to employ Executive in the capacity of President and Chief Executive Officer of each of Company and Bank on the terms and conditions set forth herein;

WHEREAS, Executive desires to accept employment with Company and Bank on the terms and conditions set forth herein.

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

1. Employment. Company and Bank each hereby employ Executive, and Executive hereby accepts employment with Company and Bank, on the terms and conditions set forth in this Agreement.

2. Duties of Employee. Executive shall be employed as President and Chief Executive Officer of Company and of Bank, and shall hold such additional titles as may be given to him from time to time by the respective Boards of Directors of Company and of Bank. As an executive officer of Company and of Bank, Executive shall perform and discharge well and faithfully such duties consistent with his position as may be assigned to Executive from time to time by the respective Boards of Directors of Company and of Bank. Executive shall devote his full working time, attention and energies to the business of Company and of Bank during the Employment Period (as defined in Section 3 of this Agreement); provided, however, that this Section 2 shall not be construed as preventing Executive from (a) investing Executives personal assets in enterprises that do not compete with Company or Bank or (b) being involved in any other work activity with the prior approval of the Board of Directors of Company and Bank.

3. Term of Agreement.

(a) This Agreement shall be for a period (the Employment Period) commencing on September 19, 2005 and ending on December 31, 2008; provided, however, that the Employment Period shall be automatically extended on January 1, 2009 and on January 1 of each subsequent year (the Annual Renewal Date) for a period ending one (1) year from each Annual Renewal Date unless either party shall give written notice of nonrenewal to the other

party at least ninety (90) days prior to an Annual 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 Board of Directors of each of Company and Bank to Executive. As used in this Agreement, Cause shall mean any of the following:

(i) Executives conviction of or plea of guilty or nolo contendere to a felony or the actual incarceration of Executive for a period of forty-five (45) consecutive days or more;

(ii) Executives failure to follow the good faith lawful instructions of the Board of Directors of Company or Bank with respect to its operations, following at least fifteen (15) days prior written notice of such instructions;

(iii) Executives willful failure to substantially perform Executives duties to Company or Bank, other than a failure resulting from Executives incapacity because of physical or mental illness; or

(iv) Executives willful failure to enforce, or willful violation of, the material written policies and procedures of Company or Bank.

(v) Executives commission of an act or course of conduct constituting fraud or willful malfeasance, dishonesty or gross negligence as to Company or Bank or as to Executives employment hereunder, or which, in the reasonable judgment of the Board of Directors of Company or Bank, results in public discredit to Company or Bank; or

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