AMENDED AND RESTATED
JOSEPH F. CONNERS
THIS AGREEMENT (the “Agreement”), by and between BENEFICIAL MUTUAL BANCORP,
INC., a federally-chartered corporation (the “Company”), BENEFICIAL MUTUAL SAVINGS BANK, a
Pennsylvania chartered savings bank (the “Bank”), and JOSEPH F. CONNERS (the “Executive”) is hereby
amended and restated in its entirety effective March 17, 2009. This Agreement was originally executed on
January 7, 2008 (the “Effective Date”).
WHEREAS, Executive serves in a position of substantial responsibility; and
WHEREAS, the Company and the Bank wish to assure the services of Executive for the period
provided in this Agreement; and
WHEREAS, Executive is willing to continue to serve in the employ of the Bank on a full-time basis for
NOW, THEREFORE, in consideration of the mutual covenants herein contained, and upon the other
terms and conditions hereinafter provided, the parties hereby agree as follows:
1. Employment . Executive is employed as Executive Vice President and Chief Financial
Officer of the Company and the Bank. Executive shall perform all duties and shall have all powers which are
commonly incident to the office of Executive Vice President and Chief Financial Officer or which, consistent with
the office, are delegated to him by the Chief Executive Officer of the Bank. (All subsequent references herein
to the Board shall be the Board of the Bank, unless otherwise indicated).
2. Location and Facilities . Executive will be furnished with the working facilities and staff as
are necessary for him to perform his duties. The location of such facilities and staff shall be at the principal
administrative offices of the Bank, or at such other site or sites customary for such offices.
3. Term .
a. The term of this Agreement shall include: (i) the initial term, consisting of the period commencing on
the date of this Agreement (the “Effective Date