EMBASSY BANCORP, INC. (OTCMKTS:EMYB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Compensatory Arrangements of Certain Officers.

On December 20, 2017, Embassy Bank for the Lehigh Valley (the “Bank”), the primary operating subsidiary of Embassy Bancorp, Inc. (the “Company”), entered into an amendment (the “Amendment”) to each of the supplemental executive retirement plan agreements between the Bank and Judith A. Hunsicker, Chief Financial Officer, and James R. Bartholomew, Executive Vice President, respectively, of the Company and the Bank.Additionally, in lieu of an increase in the amounts payable under his existing supplemental executive retirement plan agreements, the Company issued to David M. Lobach, Jr., Chairman, President and Chief Executive Officer of the Company and the Bank, ten thousand nine (10,009) shares of restricted stock to the Company’s 2010 Stock Incentive Plan, all as more fully described below.

Supplemental Retirement Plan Agreements

The Amendments provide solely for an increase in the amount of the annual benefit payable under the Agreements, as set forth in the table.

The foregoing description of the Amendments is qualified in its entirety by reference to the actual Amendments filed herewith as Exhibits 10.1 and 10.2, which are incorporated herein by reference.The material terms of the Agreements were previously described in Item 5.02 of the Company’s Current Report on Form 8-K filed on December 29, 2015, which description is incorporated herein by reference.

Grant of Restricted Stock

On December 20, 2017, the Company issued to Mr. Lobach ten thousand nine (10,009) shares of restricted stock to the Company’s 2010 Stock Incentive Plan.On December 20, 2017, the shares had an aggregate fair market value of $156,594.81.The shares were issued in lieu of a periodic increase in the benefits payable under the existing supplemental executive retirement plan agreements between the Bank and Mr. Lobach.

Item 5.02.Financial Statements and Exhibits.

(d)Exhibits

Exhibit No. Description

10.1Amendment No. 2 to Supplemental Executive Retirement Plan Agreement between Embassy Bank for the Lehigh Valley and Judith A. Hunsicker dated December 20, 2017.

10.2Amendment No. 2 to Supplemental Executive Retirement Plan Agreement between Embassy Bank for the Lehigh Valley and James R. Bartholomew dated December 20, 2017.

Embassy Bancorp, Inc. Exhibit
EX-10.1 2 emyb-20171220xex10_1.htm EX-10.1 20171220 8K Exhibit 101     AMENDMENT NO. 2  TO SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT  THIS AMENDMENT NO. 2  TO SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT (“Amendment”) is made as of the 20th day of December,…
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About EMBASSY BANCORP, INC. (OTCMKTS:EMYB)

Embassy Bancorp, Inc. is a bank holding company. The Company’s operating subsidiary is Embassy Bank for the Lehigh Valley (the Bank). The Company acts as an independent community financial services provider, and offers traditional banking and related financial services to individual, business and government customers. The Company offers a range of commercial and retail financial services, including the taking of time, savings and demand deposits; the making of commercial, consumer, residential mortgage and home equity loans, and the providing of other financial services. The Company’s loan portfolio consists of secured fixed-rate and variable-rate loans, with a concentration in commercial-purpose transactions and consumer residential mortgage and home equity loans. The Company’s securities available for sale include the United States Government agency obligations, municipal bonds and the United States Government sponsored enterprise (GSE)-mortgage-backed securities-residential.