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<TITLE>United States Securities and Exchange Commission EDGAR Filing</TITLE>
<META NAME="date" CONTENT="11/28/2007">
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<P style="margin:0px" align=center>As filed with the Securities and Exchange Commission on November&nbsp;29, 2007</P>
<P style="margin:0px" align=right>Registration No.&nbsp;333- _________</P>
<P style="margin-top:0px; margin-bottom:2.2px; padding-bottom:4px; border-bottom:4px solid #000000" align=right>&nbsp;</P>
<P style="margin:0px; padding-top:4px; border-top:1.333px solid #000000" align=right>&nbsp;</P>
<P style="margin:0px" align=center><B>UNITED STATES</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>Washington, D.C. 20549</P>
<P style="line-height:16pt; margin-top:0px; margin-bottom:12.467px; font-size:14pt" align=center><B>FORM S-8</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=159.6></TD><TD width=319.2></TD><TD width=159.6></TD></TR>
<TR><TD valign=top width=159.6><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=319.2><P style="line-height:14pt; margin:0px; font-size:14pt" align=center><B>NORTH PENN BANCORP, INC.</B></P>
</TD><TD valign=top width=159.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=159.6><P>&nbsp;</P></TD><TD valign=top width=319.2><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(Exact name of registrant as specified in charter)</P>
</TD><TD valign=top width=159.6><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=263></TD><TD width=123.6></TD><TD width=251.8></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=263><P style="line-height:10pt; margin:0px" align=center><B>PENNSYLVANIA</B></P>
</TD><TD valign=top width=123.6><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=251.8><P style="line-height:10pt; margin:0px" align=center><B>26-0261305</B></P>
</TD></TR>
<TR><TD valign=top width=263><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(State or other jurisdiction of incorporation)</P>
</TD><TD valign=top width=123.6><P>&nbsp;</P></TD><TD valign=top width=251.8><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(IRS Employer Identification No.)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=159.6></TD><TD width=319.2></TD><TD width=159.6></TD></TR>
<TR><TD valign=top width=159.6><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=319.2><P style="line-height:10pt; margin:0px" align=center><B>216 Adams Avenue Scranton, Pennsylvania 18503</B></P>
</TD><TD valign=top width=159.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=159.6><P>&nbsp;</P></TD><TD valign=top width=319.2><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(Address of principal executive offices)</P>
</TD><TD valign=top width=159.6><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=159.6></TD><TD width=319.2></TD><TD width=159.6></TD></TR>
<TR><TD valign=top width=159.6><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=319.2><P style="margin:0px" align=center><B>(570) 344-6113</B></P>
</TD><TD valign=top width=159.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=159.6><P>&nbsp;</P></TD><TD valign=top width=319.2><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(Registrant&#146;s Telephone Number, including Area Code)</P>
</TD><TD valign=top width=159.6><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=95.8></TD><TD width=446.867></TD><TD width=95.733></TD></TR>
<TR><TD valign=top width=95.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=446.867><P style="line-height:10pt; margin:0px" align=center><B>NORTH PENN BANK</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>EMPLOYEES&#146; SAVINGS AND PROFIT SHARING PLAN AND TRUST</B></P>
</TD><TD valign=top width=95.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=95.8><P>&nbsp;</P></TD><TD valign=top width=446.867><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(Full Title of the Plan)</P>
</TD><TD valign=top width=95.733><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="line-height:10.15pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=319.467></TD><TD width=319.467></TD></TR>
<TR><TD valign=bottom width=319.467><P style="line-height:10pt; margin:0px" align=center><B>Frederick L. Hickman</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>President and Chief Executive Officer</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>North Penn Bancorp, Inc.</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>216 Adams Avenue</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>Scranton, Pennsylvania 18503</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>(570) 344-6113</B></P>
</TD><TD valign=top width=319.467><P style="line-height:10pt; margin:0px" align=center><B>Copies to:</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>Aaron M. Kaslow</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>Corey D. O&#146;Brien</B></P>
<P style="line-height:10.15pt; margin:0px; padding-left:144px; text-indent:-144px" align=center><B>Muldoon Murphy &amp; Aguggia LLP</B></P>
<P style="line-height:10.15pt; margin:0px; padding-left:192px; text-indent:-192px" align=center><B>5101 Wisconsin Avenue, N.W.</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>Washington, DC 20016</B></P>
<P style="line-height:10pt; margin:0px" align=center><B>(202) 362-0840</B></P>
</TD></TR>
<TR><TD valign=top width=319.467><P style="line-height:10pt; margin:0px; font-size:8pt" align=center>(Name, address, including zip code, and telephone number, including area code, of agent for service)</P>
</TD><TD valign=top width=319.467><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="line-height:10.15pt; margin-top:6.667px; margin-bottom:6.667px" align=center><B>CALCULATION OF REGISTRATION FEE</B></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=155.067></TD><TD width=113.467></TD><TD width=147.067></TD><TD width=130.467></TD><TD width=99></TD></TR>
<TR><TD style="border-top:3px double #000000; border-bottom:1px solid #000000" valign=bottom width=155.067><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Title of each Class&nbsp;of</B></P>
<P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Securities to be Registered</B></P>
</TD><TD style="border-top:3px double #000000; border-bottom:1px solid #000000" valign=bottom width=113.467><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Amount to be</B></P>
<P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Registered<SUP>(1)</SUP></B></P>
</TD><TD style="border-top:3px double #000000; border-bottom:1px solid #000000" valign=bottom width=147.067><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Proposed Maximum <BR>
Offering Price Per Share</B></P>
</TD><TD style="border-top:3px double #000000; border-bottom:1px solid #000000" valign=bottom width=130.467><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Proposed Maximum <BR>
Aggregate Offering <BR>
Price<SUP>(2)</SUP></B></P>
</TD><TD style="border-top:3px double #000000; border-bottom:1px solid #000000" valign=bottom width=99><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Amount of <BR>
Registration</B></P>
<P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Fee</B></P>
</TD></TR>
<TR><TD valign=bottom width=155.067><P style="margin:0px; padding-left:8px; text-indent:-8px">Common Stock<BR>
$.10 Par Value</P>
</TD><TD valign=bottom width=113.467><P style="margin:0px" align=center>41,075 Shares</P>
</TD><TD valign=bottom width=147.067><P style="margin:0px" align=center>$8.65 <SUP>(3)</SUP></P>
</TD><TD valign=bottom width=130.467><P style="margin:0px" align=center>$355,299</P>
</TD><TD valign=bottom width=99><P style="margin:0px" align=center>$11.00</P>
</TD></TR>
<TR><TD style="border-bottom:3px double #000000" valign=bottom width=155.067><P style="margin:0px; padding-left:8px; text-indent:-8px">Participation Interests</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=113.467><P style="margin:0px" align=center><SUP>(4)</SUP></P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=147.067><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=130.467><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=99><P style="margin:0px" align=center><SUP>&nbsp;(5)</SUP></P>
</TD></TR>
</TABLE>
<P style="line-height:10pt; margin-top:2.667px; margin-bottom:-13.333px; padding-left:24px; text-indent:-24px; font-size:8pt">(1)</P>
<P style="line-height:10pt; margin:0px; padding-left:24px; font-size:8pt">Together with an indeterminate number of additional shares which may be necessary to adjust the number of shares reserved for issuance pursuant to the North Penn Bank Employees&#146; Savings and Profit-Sharing Plan (the &#147;Plan&#148;) as the result of a stock split, stock dividend or similar adjustment of the outstanding common stock of North Penn Bancorp, Inc. (the &#147;Common Stock&#148;) pursuant to 17 C.F.R. &#167;230.416(a).</P>
<P style="line-height:10pt; margin-top:0px; margin-bottom:-13.333px; padding-left:24px; text-indent:-24px; font-size:8pt">(2)</P>
<P style="line-height:10pt; margin:0px; padding-left:24px; font-size:8pt">Estimated solely for the purpose of calculating the registration fee.</P>
<P style="line-height:10pt; margin-top:0px; margin-bottom:-13.333px; padding-left:24px; text-indent:-24px; font-size:8pt">(3)</P>
<P style="line-height:10pt; margin:0px; padding-left:24px; font-size:8pt">The average of the bid and ask price of the Common Stock as reported on November&nbsp;23, 2007 in accordance with 17 C.F.R. &#167;230.457(c).</P>
<P style="line-height:10pt; margin-top:0px; margin-bottom:-13.333px; padding-left:24px; text-indent:-24px; font-size:8pt">(4)</P>
<P style="line-height:10pt; margin:0px; padding-left:24px; font-size:8pt">In addition, pursuant to 17 C.F.R. &#167;230.416(c), this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the Plan, based upon the maximum amount that could be issued under the Plan pursuant to 17 C.F.R. &#167;230.457(h).</P>
<P style="line-height:10pt; margin-top:0px; margin-bottom:-13.333px; padding-left:24px; text-indent:-24px; font-size:8pt">(5)</P>
<P style="line-height:10pt; margin:0px; padding-left:24px; font-size:8pt">In accordance with 17 C.F.R. &#167;230.457(h), where securities are to be offered pursuant to an employee benefit plan, the aggregate offering price and the amount of the registration fee shall be computed with respect to the maximum number of shares of Common Stock that may be purchased with the current assets of such Plan. Accordingly, no separate fee is required for the participation interests. </P>
<P style="margin-top:6.667px; margin-bottom:0px"><B>This Registration Statement shall become effective immediately upon filing in accordance with Section&nbsp;8(a) of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), and 17 C.F.R. &#167;230.462.</B></P>
<P style="margin-top:0px; margin-bottom:2.2px; padding-bottom:4px; border-bottom:1.333px solid #000000">&nbsp;</P>
<P style="margin:0px; padding-top:4px; border-top:4px solid #000000">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:8.867px; page-break-before:always" align=center><B>NORTH PENN BANCORP, INC.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>PART I</B> &nbsp;<B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
<P style="margin-top:0px; margin-bottom:8.867px"><B>Items 1 &amp; 2</B>. The documents containing the information for North Penn Bank Employees&#146; Savings and Profit Sharing Plan and Trust (the &#147;Plan&#148;) required by Part I of the Registration Statement will be sent or given to the participants in the Plan as specified by Rule&nbsp;428(b)(1). Such documents are not filed with the Securities and Exchange Commission (the &#147;SEC&#148;) either as a part of this Registration Statement or as a prospectus or prospectus supplement pursuant to Rule&nbsp;424, in reliance on Rule&nbsp;428. Such documents and the information incorporated by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus for the Registration Statement.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>PART II &nbsp;INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>Item 3. Incorporation of Certain Documents by Reference</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">The following documents filed or to be filed by North Penn Bancorp, Inc. (the &#147;Registrant&#148; or &#147;Company&#148;) with the SEC are incorporated by reference in this Registration Statement:</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:96px; text-indent:-48px">(a)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px">The Prospectus filed with the SEC by the Registrant (File No.&nbsp;333-143601) pursuant to rule 424(b)(3) on August&nbsp;16, 2007, which includes the consolidated statements of operations, changes in stockholder&#146;s equity and cash flows for the years ended December&nbsp;31, 2006 and 2005.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:96px; text-indent:-48px">(b)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px">The Quarterly Reports on Form&nbsp;10-QSB filed by the Registrant for the fiscal quarters ended June&nbsp;30, 2007 and September&nbsp;30, 2007, filed with the SEC on September&nbsp;18, 2007 and November&nbsp;14, 2007, respectively.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:96px; text-indent:-48px">(c)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px">The description of North Penn&#146;s Common Stock contained in the Prospectus under the heading &#147;Description of New North Penn Bancorp Common Stock&#148;, in the Company&#146;s Registration Statement on Form&nbsp;SB-2 filed on June&nbsp;8, 2007, as amended (File No.&nbsp;333-143601).</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:96px; text-indent:-48px">(d)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px">The Form&nbsp;11-K for the plan year ended December&nbsp;31, 2006 filed with the SEC on November&nbsp;29, 2007.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:96px; text-indent:-48px">(e)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px">All documents filed by the Company pursuant to Sections 13(a) and (c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), except items&nbsp;2.02, 7.01 and 9.01 filed under Form&nbsp;8-K, after the date hereof and prior to the filing of a post-effective amendment which deregisters all securities then remaining unsold. </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px"><I>Any statement contained in this Registration Statement, or in a document incorporated or deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</I></P>
<P style="margin-top:0px; margin-bottom:8.867px"><B>Item 4. Description of Securities</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">The common stock to be offered pursuant to the Plans has been registered pursuant to Section&nbsp;12 of the Exchange Act. Accordingly, a description of the common stock is not required herein. </P>
<P style="margin-top:0px; margin-bottom:8.867px"><B>Item 5. Interests of Named Experts and Counsel</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">None.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">The validity of the Common Stock offered hereby has been passed upon by Muldoon Murphy &amp; Aguggia LLP, Washington, DC, for the Registrant. </P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR>
<BR></P>
<P style="margin:0px" align=center>1</P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:8.867px; page-break-before:always" align=justify><B>Item 6. Indemnification of Directors and Officers</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">The Articles of Incorporation of the Company provide as follows:</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>Article 10.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px"><B>Indemnification, etc. of Officers, Directors, Employees, and Agents. </B></P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>A.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Persons</U>. </B>The Company shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, including actions by or in the right of the Company, whether civil, criminal, administrative, or investigative, by reason of the fact that such person is or was a director or officer of the Company, or is or was serving at the request of the Company as a director, officer, employee, fiduciary, or agent of another corporation, partnership, joint venture, trust, or other enterprise. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>B.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Extent &#150; Derivative Actions</U>. </B>In the case of a threatened, pending, or completed action or suit by or in the right of the Company against a person named in paragraph A by reason of such person holding a position named in paragraph A, the Company shall indemnify such person if such person satisfies the standard in paragraph C, for expenses (including attorneys&#146; fees) actually and reasonably incurred by such person in connection with the defense or settlement of the action or suit. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>C.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Standard &#150; Derivative Suits</U>. </B>In the case of a threatened, pending, or completed action or suit by or in the right of the Company, a person named in paragraph A shall be indemnified only if: </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">1.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">such person is successful on the merits or otherwise; or </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">2.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">such person acted in good faith in the transaction that is the subject of the suit or action, and in a manner reasonably believed to be in, or not opposed to, the best interests of the Company, including, but not limited to, the taking of any and all actions in connection with the Company&#146;s response to any tender offer or any offer or proposal of another party to engage in a Business Combination (as defined in Article 13 of these Articles) not approved by the Board of Directors. However, such person shall not be indemnified in respect of any claim, issue, or matter as to which such person has been adjudged liable to the Company unless (and only to the extent that) the court of common pleas or the court in which the suit was brought shall determine, upon application, that despite the adjudication of liability but in view of all the circumstances, such person is fairly and reasonably entitled to indemnity for such expenses as the court shall deem proper. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>D.</B></P>
<P style="margin:0px; text-indent:96px"><B><U>Extent &#150; Nonderivative Suits</U>. </B>In case of a threatened, pending, or completed suit, action, or proceeding (whether civil, criminal, administrative, or investigative), other than a suit by or in the right of the Company, together hereafter referred to as a nonderivative suit, against a person named in paragraph A by reason of such person holding a position named in paragraph A, the Company shall indemnify such person if such person satisfies the standard in paragraph E, for amounts actually and reasonably incurred by such person in connection with the defense or settlement of the nonderivative suit, including, but not limited to (i) expenses (including attorneys&#146; fees), (ii) amounts paid in settlement, (iii) judgments, and (iv) fines. </P>
<P style="margin:0px">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>E.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Standard &#150; Nonderivative Suits</U>. </B>In case of a nonderivative suit, a person named in paragraph A shall be indemnified only if: </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">1.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">such person is successful on the merits or otherwise; or </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">2.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">such person acted in good faith in the transaction that is the subject of the nonderivative suit and in a manner such person reasonably believed to be in, or not opposed to, the best interests of the Company, including, but not limited to, the taking of any and all actions in connection with the Company&#146;s response to any tender offer or any offer or proposal of another party to engage in a Business Combination (as defined in Article 13 of these Articles) not approved by the Board of Directors and, with respect to any criminal action or proceeding, such person had no reasonable cause to believe such person&#146;s conduct was unlawful. The termination of a nonderivative suit by judgment, order, settlement, conviction, or upon a plea of <I>nolo contendere</I> or its equivalent shall not, in itself, create a presumption that the person failed to satisfy the standard of this paragraph E.2. </P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR>
<BR></P>
<P style="margin:0px" align=center>2</P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; page-break-before:always"><B>F.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Determination That Standard Has Been Met</U>. </B>A determination that the standard of paragraph C or E has been satisfied may be made by a court, or, except as stated in paragraph C.2 (second sentence), the determination may be made by: </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">1.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">the Board of Directors by a majority vote of a quorum consisting of directors of the Company who were not parties to the action, suit, or proceeding; </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">2.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">if such a quorum is not obtainable or if obtainable and a majority of a quorum of disinterested directors so directs, by independent legal counsel in a written opinion; or </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px">3.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:144px">the shareholders of the Company. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>G.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Proration</U>. </B>Anyone making a determination under paragraph F may determine that a person has met the standard as to some matters but not as to others, and may reasonably prorate amounts to be indemnified. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>H.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Advancement of Expenses</U>. </B>Reasonable expenses incurred by a director or officer of the Company in defending a civil or criminal action, suit, or proceeding described in Article 10.A may be paid by the Company in advance of the final disposition of such action, suit, or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that the person is not entitled to be indemnified by the Company. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>I.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Other Rights</U>. </B>The indemnification and advancement of expenses provided by or pursuant to this Article 10 shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any insurance or other agreement, vote of shareholders or directors, or otherwise, both as to actions in their official capacity and as to actions in another capacity while holding an office, and shall continue as to a person who has ceased to be a director or officer and shall inure to the benefit of the heirs, executors, and administrators of such person. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>J.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Insurance</U>. </B>The Company shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the Company, or is or was serving at the request of the Company as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person&#146;s status as such, whether or not the Company would have the power to indemnify such person against such liability under the provisions of this Article 10. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>K.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Security Fund; Indemnity Agreements</U>. </B>By action of the Board of Directors (notwithstanding their interest in the transaction), the Company may create and fund a trust fund or fund of any nature, and may enter into agreements with its officers, directors, employees, and agents for the purpose of securing or insuring in any manner its obligation to indemnify or advance expenses provided for in this Article 10. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>L.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Modification</U>. </B>The duties of the Company to indemnify and to advance expenses to any person as provided in this Article 10 shall be in the nature of a contract between the Company and each such person, and no amendment or repeal of any provision of this Article 10, and no amendment or termination of any trust or other fund created pursuant to Article 10.K hereof, shall alter to the detriment of such person the right of such person to the advancement of expenses or indemnification related to a claim based on an act or failure to act which took place prior to such amendment, repeal, or termination. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>M.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Proceedings Initiated by Indemnified Persons</U>. </B>Notwithstanding any other provision in this Article 10, the Company shall not indemnify a director, officer, employee, or agent for any liability incurred in an action, suit, or proceeding initiated by (which shall not be deemed to include counter-claims or affirmative defenses) or participated in as an intervenor or amicus curiae by the person seeking indemnification unless such initiation of or participation in the action, suit, or proceeding is authorized, either before or after its commencement, by the affirmative vote of a majority of the directors then in office. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px"><B>N.</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px"><B><U>Savings Clause</U>. </B>If this Article 10 or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify each director, officer, employee, and agent of the Company as to costs, charges, and expenses (including attorneys&#146; fees), judgments, fines, and amounts paid in settlement with respect to any action, suit, or proceeding, whether civil, criminal, administrative, or </P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR>
<BR></P>
<P style="margin:0px" align=center>3</P>
<P style="margin:0px"><BR></P>
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<P style="margin-top:0px; margin-bottom:8.867px; page-break-before:always">investigative, including an action by or in the right of the Company to the fullest extent permitted by any applicable portion of this Article 10 that shall not have been invalidated and to the fullest extent permitted by applicable law. </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">If the laws of the Commonwealth of Pennsylvania are amended to permit further indemnification of the directors, officers, employees, and agents of the Company, then the Company shall indemnify such persons to the fullest extent permitted by law. Any repeal or modification of this Article by the shareholders of the Company shall not adversely affect any right or protection of a director, officer, employee, or agent existing at the time of such repeal or modification. </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">The Company also maintains directors and officers insurance to insure its directors and officers and the directors and officers of its subsidiaries against certain liabilities.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>Item 7. Exemption from Registration Claimed </B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>Not applicable. </P>
<P style="line-height:11.4pt; margin:0px" align=justify><B>Item 8. List of Exhibits </B></P>
<P style="line-height:11.4pt; margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>The following exhibits are filed with or incorporated by reference into this Registration Statement on Form&nbsp;S-8 (numbering corresponds generally to Exhibit&nbsp;Table in Item 601 of Regulation&nbsp;S-K):</P>
<P style="line-height:13.4pt; margin-top:0px; margin-bottom:-17.867px; padding-left:93.333px; text-indent:-46.667px; color:#0000FF" align=justify><A HREF="ex104.htm"><U>10.4</U></A><FONT COLOR=#000000></FONT></P>
<P style="line-height:11.4pt; margin:0px; padding-left:93.333px" align=justify>North Penn Bank Employees&#146; Savings and Profit Sharing Plan</P>
<P style="line-height:13.4pt; margin-top:0px; margin-bottom:-17.867px; padding-left:93.333px; text-indent:-46.667px; color:#0000FF" align=justify><A HREF="ex23.htm"><U>23</U></A><FONT COLOR=#000000></FONT></P>
<P style="line-height:11.4pt; margin:0px; padding-left:93.333px" align=justify>Consent of McGrail Merkel Quinn &amp; Associates</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:93.333px; text-indent:-46.667px; color:#0000FF" align=justify><A HREF="#poa"><U>24</U></A><FONT COLOR=#000000></FONT></P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:93.333px" align=justify>Power of Attorney is located on the signature pages. </P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>Item 9. Undertakings</B></P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px">(a) </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px">The undersigned registrant hereby undertakes: </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:48px">(1) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; text-indent:96px">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:106.067px; text-indent:37.933px">(i) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:106.067px; text-indent:85.933px">To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933; </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:106.067px; text-indent:37.933px">(ii) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:106.067px; text-indent:85.933px">To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in volume and price represent no more than 20&nbsp;percent change in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration statement; and </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:106.067px; text-indent:37.933px">(iii) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:106.067px; text-indent:85.933px">To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement. </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; text-indent:48px"><I>Provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed or furnished to the Securities and Exchange Commission by the registrant pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference into this Registration Statement.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:48px">(2) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; text-indent:96px">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof. </P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR>
<BR></P>
<P style="margin:0px" align=center>4</P>
<P style="margin:0px"><BR></P>
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<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:48px; page-break-before:always">(3) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; text-indent:96px">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px">(b) </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px">The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof. </P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px">(c)-(g)</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px">Not applicable.</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px">(h)</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:96px">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px">(i)&#150;(l) </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; text-indent:48px">Not applicable.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>5</P>
<P style="margin:0px"><BR></P>
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<P style="margin-top:0px; margin-bottom:8.867px; page-break-before:always" align=center><B>SIGNATURES</B></P>
<P style="line-height:11.4pt; margin:0px">Pursuant to the requirements of the Securities Act of 1933, North Penn Bancorp, Inc. hereby certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Scranton, Commonwealth of Pennsylvania on this 29th day of November&nbsp;2007.</P>
<P style="line-height:11.4pt; margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=166.133></TD><TD width=77.8></TD><TD width=35.8></TD><TD width=220.8></TD><TD width=137.867></TD></TR>
<TR><TD valign=top width=166.133><P>&nbsp;</P></TD><TD valign=top width=77.8><P>&nbsp;</P></TD><TD valign=top width=35.8><P>&nbsp;</P></TD><TD valign=top width=358.667 colspan=2><P style="margin:0px"><B>NORTH PENN BANCORP, INC.</B></P>
</TD></TR>
<TR><TD valign=top width=166.133><P>&nbsp;</P></TD><TD valign=top width=77.8><P>&nbsp;</P></TD><TD valign=top width=35.8><P>&nbsp;</P></TD><TD valign=top width=220.8><P>&nbsp;</P></TD><TD valign=top width=137.867><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=166.133><P>&nbsp;</P></TD><TD valign=top width=77.8><P>&nbsp;</P></TD><TD valign=top width=35.8><P style="margin:0px" align=right>By:</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=220.8><P style="margin:0px">/s/ Frederick L. Hickman</P>
</TD><TD valign=top width=137.867><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=166.133><P>&nbsp;</P></TD><TD valign=top width=77.8><P>&nbsp;</P></TD><TD valign=top width=35.8><P>&nbsp;</P></TD><TD valign=top width=220.8><P style="margin:0px">Frederick L. Hickman</P>
</TD><TD valign=top width=137.867><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=166.133><P>&nbsp;</P></TD><TD valign=top width=77.8><P>&nbsp;</P></TD><TD valign=top width=35.8><P>&nbsp;</P></TD><TD valign=top width=358.667 colspan=2><P style="margin:0px">President and Chief Executive Officer</P>
</TD></TR>
</TABLE>
<P style="line-height:11.4pt; margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</P>
<P style="line-height:11.4pt; margin:0px; text-indent:48px"><A NAME="poa"></A>KNOW ALL MEN BY THESE PRESENT, that each person whose signature appears below (other than Mr.&nbsp;Hickman) constitutes and appoints Frederick L. Hickman as the true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any or all amendments to the Form&nbsp;S-8 Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the U.S. Securities and Exchange Commission, respectively, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and things requisite and necessary to be done as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>
<P style="line-height:11.4pt; margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=0.533></TD><TD width=181.2></TD><TD width=20.6></TD><TD width=0.733></TD><TD width=234.4></TD><TD width=0.733></TD><TD width=15></TD><TD width=0.733></TD><TD width=184></TD><TD width=1></TD></TR>
<TR><TD valign=top width=0.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=181.2><P style="line-height:11.4pt; margin:0px; font-size:8pt" align=center><B>Name</B></P>
</TD><TD valign=top width=21.333 colspan=2><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=235.133 colspan=2><P style="line-height:11.4pt; margin:0px; font-size:8pt" align=center><B>Title</B></P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=185 colspan=2><P style="line-height:11.4pt; margin:0px; font-size:8pt" align=center><B>Date</B></P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">/s/ Frederick L. Hickman</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">President and Chief Executive Officer (Principal Executive Officer)</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">Frederick L. Hickman</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">/s/ Glenn J. Clark</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Assistant Vice President, and Contractor (Principal Financial Officer)</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">Glenn J. Clark</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px" align=justify>&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px" align=justify>/s/ Gordon S. Florey</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="line-height:11.4pt; margin:0px">Gordon S. Florey</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px; padding-left:240px; text-indent:-240px" align=justify>&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px; padding-left:240px; text-indent:-240px" align=justify>/s/ Herbert C. Kneller</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px; padding-left:240px; text-indent:-240px" align=justify>Herbert C. Kneller</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px; padding-left:28.8px; text-indent:-28.8px" align=justify>&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px; padding-left:28.8px; text-indent:-28.8px" align=justify>/s/ Kevin M. Lamont</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px; padding-left:28.8px; text-indent:-28.8px" align=justify>Kevin M. Lamont</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px" align=justify>&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px" align=justify>/s/ Virginia D. McGregor</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">Virginia D. McGregor</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px">/s/ Frank H. Mechler</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">Frank H. Mechler</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px">/s/ James W. Reid</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">James W. Reid</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">&nbsp;</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=181.733 colspan=2><P style="margin:0px">/s/ David Samuel</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=235.133 colspan=2 rowspan=2><P style="line-height:11.4pt; margin:0px">Director</P>
</TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P style="line-height:11.4pt; margin:0px" align=center>November&nbsp;29, 2007</P>
</TD></TR>
<TR><TD valign=top width=181.733 colspan=2><P style="margin:0px">David Samuel</P>
</TD><TD valign=top width=20.6><P>&nbsp;</P></TD><TD valign=top width=15.733 colspan=2><P>&nbsp;</P></TD><TD valign=top width=185.733 colspan=3><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="line-height:11.4pt; margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>6</P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:11.4pt; margin:0px" align=center><B>EXHIBIT INDEX</B></P>
<P style="line-height:11.4pt; margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=56.4></TD><TD width=14.467></TD><TD width=360.533></TD><TD width=14.467></TD><TD width=176.733></TD><TD width=1.4></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=top width=56.4><P style="line-height:11.4pt; margin:0px; font-size:8pt" align=center><B>Exhibit&nbsp;No.</B></P>
</TD><TD valign=top width=14.467><P style="margin:0px; font-size:8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=360.533><P style="line-height:11.4pt; margin:0px; font-size:8pt"><B>Description </B></P>
</TD><TD valign=top width=14.467><P style="margin:0px; font-size:8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=176.733><P style="line-height:11.4pt; margin:0px; font-size:8pt"><B>Method of Filing</B></P>
</TD><TD valign=top width=1.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=56.4><P style="margin:0px; color:#0000FF" align=center><A HREF="ex104.htm"><U>10.4</U></A><FONT COLOR=#000000></FONT></P>
</TD><TD valign=top width=14.467><P>&nbsp;</P></TD><TD valign=top width=360.533><P style="margin:0px">North Penn Bank Employees&#146; Savings and Profit Sharing Plan</P>
</TD><TD valign=top width=14.467><P>&nbsp;</P></TD><TD valign=top width=176.733><P style="margin:0px">Filed herewith.</P>
</TD><TD valign=top width=1.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=56.4><P style="margin:0px; color:#0000FF" align=center><A HREF="ex23.htm"><U>23</U></A><FONT COLOR=#000000></FONT></P>
</TD><TD valign=top width=14.467><P>&nbsp;</P></TD><TD valign=top width=360.533><P style="margin:0px">Consent of McGrail Merkel Quinn &amp; Associates</P>
</TD><TD valign=top width=14.467><P>&nbsp;</P></TD><TD valign=top width=176.733><P style="margin:0px">Filed herewith.</P>
</TD><TD valign=top width=1.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=56.4><P style="margin:0px; color:#0000FF" align=center><A HREF="#poa"><U>24</U></A><FONT COLOR=#000000></FONT></P>
</TD><TD valign=top width=14.467><P>&nbsp;</P></TD><TD valign=top width=360.533><P style="margin:0px">Power of Attorney</P>
</TD><TD valign=top width=14.467><P>&nbsp;</P></TD><TD valign=top width=176.733><P style="margin:0px">Located on the signature page.</P>
</TD><TD valign=top width=1.4><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px"><BR></P>
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[{"type": "S-8", "sequence": "1", "filename": "northpenns8.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 58070}]
{"company-data": {"conformed-name": "North Penn Bancorp Inc", "cik": "0001401434", "assigned-sic": "6036", "irs-number": "260261305", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-147701", "film-number": "071273820"}, "business-address": {"street1": "216 ADAMS AVENUE", "city": "SCRANTON", "state": "PA", "zip": "18503", "phone": "(570)344-6113"}, "mail-address": {"street1": "216 ADAMS AVENUE", "city": "SCRANTON", "state": "PA", "zip": "18503"}, "former-company": {"former-conformed-name": "New North Penn Bancorp Inc", "date-changed": "20070530"}}
United States Securities and Exchange Commission EDGAR Filing
As filed with the Securities and Exchange Commission on November 29, 2007
Registration No. 333- _________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
NORTH PENN BANCORP, INC.
(Exact name of registrant as specified in charter)
PENNSYLVANIA
26-0261305
(State or other jurisdiction of incorporation)
(IRS Employer Identification No.)
216 Adams Avenue Scranton, Pennsylvania 18503
(Address of principal executive offices)
(570) 344-6113
(Registrant's Telephone Number, including Area Code)
NORTH PENN BANK
EMPLOYEES' SAVINGS AND PROFIT SHARING PLAN AND TRUST
(Full Title of the Plan)
Frederick L. Hickman
President and Chief Executive Officer
North Penn Bancorp, Inc.
216 Adams Avenue
Scranton, Pennsylvania 18503
(570) 344-6113
Copies to:
Aaron M. Kaslow
Corey D. O'Brien
Muldoon Murphy & Aguggia LLP
5101 Wisconsin Avenue, N.W.
Washington, DC 20016
(202) 362-0840
(Name, address, including zip code, and telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Title of each Class of
Securities to be Registered
Amount to be
Registered
(1)
Proposed Maximum
Offering Price Per Share
Proposed Maximum
Aggregate Offering
Price
(2)
Amount of
Registration
Fee
Common Stock
$.10 Par Value
41,075 Shares
$8.65
(3)
$355,299
$11.00
Participation Interests
(4)
(5)
(1)
Together with an indeterminate number of additional shares which may be necessary to adjust the number of shares reserved for issuance pursuant to the North Penn Bank Employees' Savings and Profit-Sharing Plan (the "Plan") as the result of a stock split, stock dividend or similar adjustment of the outstanding common stock of North Penn Bancorp, Inc. (the "Common Stock") pursuant to 17 C.F.R. §230.416(a).
(2)
Estimated solely for the purpose of calculating the registration fee.
(3)
The average of the bid and ask price of the Common Stock as reported on November 23, 2007 in accordance with 17 C.F.R. §230.457(c).
(4)
In addition, pursuant to 17 C.F.R. §230.416(c), this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the Plan, based upon the maximum amount that could be issued under the Plan pursuant to 17 C.F.R. §230.457(h).
(5)
In accordance with 17 C.F.R. §230.457(h), where securities are to be offered pursuant to an employee benefit plan, the aggregate offering price and the amount of the registration fee shall be computed with respect to the maximum number of shares of Common Stock that may be purchased with the current assets of such Plan. Accordingly, no separate fee is required for the participation interests.
This Registration Statement shall become effective immediately upon filing in accordance with Section 8(a) of the Securities Act of 1933, as amended (the "Securities Act"), and 17 C.F.R. §230.462.
NORTH PENN BANCORP, INC.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Items 1 & 2
. The documents containing the information for North Penn Bank Employees' Savings and Profit Sharing Plan and Trust (the "Plan") required by Part I of the Registration Statement will be sent or given to the participants in the Plan as specified by Rule 428(b)(1). Such documents are not filed with the Securities and Exchange Commission (the "SEC") either as a part of this Registration Statement or as a prospectus or prospectus supplement pursuant to Rule 424, in reliance on Rule 428. Such documents and the information incorporated by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus for the Registration Statement.
PART II  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Certain Documents by Reference
The following documents filed or to be filed by North Penn Bancorp, Inc. (the "Registrant" or "Company") with the SEC are incorporated by reference in this Registration Statement:
(a)
The Prospectus filed with the SEC by the Registrant (File No. 333-143601) pursuant to rule 424(b)(3) on August 16, 2007, which includes the consolidated statements of operations, changes in stockholder's equity and cash flows for the years ended December 31, 2006 and 2005.
(b)
The Quarterly Reports on Form 10-QSB filed by the Registrant for the fiscal quarters ended June 30, 2007 and September 30, 2007, filed with the SEC on September 18, 2007 and November 14, 2007, respectively.
(c)
The description of North Penn's Common Stock contained in the Prospectus under the heading "Description of New North Penn Bancorp Common Stock", in the Company's Registration Statement on Form SB-2 filed on June 8, 2007, as amended (File No. 333-143601).
(d)
The Form 11-K for the plan year ended December 31, 2006 filed with the SEC on November 29, 2007.
(e)
All documents filed by the Company pursuant to Sections 13(a) and (c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except items 2.02, 7.01 and 9.01 filed under Form 8-K, after the date hereof and prior to the filing of a post-effective amendment which deregisters all securities then remaining unsold.
Any statement contained in this Registration Statement, or in a document incorporated or deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities
The common stock to be offered pursuant to the Plans has been registered pursuant to Section 12 of the Exchange Act. Accordingly, a description of the common stock is not required herein.
Item 5. Interests of Named Experts and Counsel
None.
The validity of the Common Stock offered hereby has been passed upon by Muldoon Murphy & Aguggia LLP, Washington, DC, for the Registrant.
1
Item 6. Indemnification of Directors and Officers
The Articles of Incorporation of the Company provide as follows:
Article 10.
Indemnification, etc. of Officers, Directors, Employees, and Agents.
A.
Persons
.
The Company shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, including actions by or in the right of the Company, whether civil, criminal, administrative, or investigative, by reason of the fact that such person is or was a director or officer of the Company, or is or was serving at the request of the Company as a director, officer, employee, fiduciary, or agent of another corporation, partnership, joint venture, trust, or other enterprise.
B.
Extent – Derivative Actions
.
In the case of a threatened, pending, or completed action or suit by or in the right of the Company against a person named in paragraph A by reason of such person holding a position named in paragraph A, the Company shall indemnify such person if such person satisfies the standard in paragraph C, for expenses (including attorneys' fees) actually and reasonably incurred by such person in connection with the defense or settlement of the action or suit.
C.
Standard – Derivative Suits
.
In the case of a threatened, pending, or completed action or suit by or in the right of the Company, a person named in paragraph A shall be indemnified only if:
1.
such person is successful on the merits or otherwise; or
2.
such person acted in good faith in the transaction that is the subject of the suit or action, and in a manner reasonably believed to be in, or not opposed to, the best interests of the Company, including, but not limited to, the taking of any and all actions in connection with the Company's response to any tender offer or any offer or proposal of another party to engage in a Business Combination (as defined in Article 13 of these Articles) not approved by the Board of Directors. However, such person shall not be indemnified in respect of any claim, issue, or matter as to which such person has been adjudged liable to the Company unless (and only to the extent that) the court of common pleas or the court in which the suit was brought shall determine, upon application, that despite the adjudication of liability but in view of all the circumstances, such person is fairly and reasonably entitled to indemnity for such expenses as the court shall deem proper.
D.
Extent – Nonderivative Suits
.
In case of a threatened, pending, or completed suit, action, or proceeding (whether civil, criminal, administrative, or investigative), other than a suit by or in the right of the Company, together hereafter referred to as a nonderivative suit, against a person named in paragraph A by reason of such person holding a position named in paragraph A, the Company shall indemnify such person if such person satisfies the standard in paragraph E, for amounts actually and reasonably incurred by such person in connection with the defense or settlement of the nonderivative suit, including, but not limited to (i) expenses (including attorneys' fees), (ii) amounts paid in settlement, (iii) judgments, and (iv) fines.
E.
Standard – Nonderivative Suits
.
In case of a nonderivative suit, a person named in paragraph A shall be indemnified only if:
1.
such person is successful on the merits or otherwise; or
2.
such person acted in good faith in the transaction that is the subject of the nonderivative suit and in a manner such person reasonably believed to be in, or not opposed to, the best interests of the Company, including, but not limited to, the taking of any and all actions in connection with the Company's response to any tender offer or any offer or proposal of another party to engage in a Business Combination (as defined in Article 13 of these Articles) not approved by the Board of Directors and, with respect to any criminal action or proceeding, such person had no reasonable cause to believe such person's conduct was unlawful. The termination of a nonderivative suit by judgment, order, settlement, conviction, or upon a plea of
nolo contendere
or its equivalent shall not, in itself, create a presumption that the person failed to satisfy the standard of this paragraph E.2.
2
F.
Determination That Standard Has Been Met
.
A determination that the standard of paragraph C or E has been satisfied may be made by a court, or, except as stated in paragraph C.2 (second sentence), the determination may be made by:
1.
the Board of Directors by a majority vote of a quorum consisting of directors of the Company who were not parties to the action, suit, or proceeding;
2.
if such a quorum is not obtainable or if obtainable and a majority of a quorum of disinterested directors so directs, by independent legal counsel in a written opinion; or
3.
the shareholders of the Company.
G.
Proration
.
Anyone making a determination under paragraph F may determine that a person has met the standard as to some matters but not as to others, and may reasonably prorate amounts to be indemnified.
H.
Advancement of Expenses
.
Reasonable expenses incurred by a director or officer of the Company in defending a civil or criminal action, suit, or proceeding described in Article 10.A may be paid by the Company in advance of the final disposition of such action, suit, or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that the person is not entitled to be indemnified by the Company.
I.
Other Rights
.
The indemnification and advancement of expenses provided by or pursuant to this Article 10 shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any insurance or other agreement, vote of shareholders or directors, or otherwise, both as to actions in their official capacity and as to actions in another capacity while holding an office, and shall continue as to a person who has ceased to be a director or officer and shall inure to the benefit of the heirs, executors, and administrators of such person.
J.
Insurance
.
The Company shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the Company, or is or was serving at the request of the Company as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person's status as such, whether or not the Company would have the power to indemnify such person against such liability under the provisions of this Article 10.
K.
Security Fund; Indemnity Agreements
.
By action of the Board of Directors (notwithstanding their interest in the transaction), the Company may create and fund a trust fund or fund of any nature, and may enter into agreements with its officers, directors, employees, and agents for the purpose of securing or insuring in any manner its obligation to indemnify or advance expenses provided for in this Article 10.
L.
Modification
.
The duties of the Company to indemnify and to advance expenses to any person as provided in this Article 10 shall be in the nature of a contract between the Company and each such person, and no amendment or repeal of any provision of this Article 10, and no amendment or termination of any trust or other fund created pursuant to Article 10.K hereof, shall alter to the detriment of such person the right of such person to the advancement of expenses or indemnification related to a claim based on an act or failure to act which took place prior to such amendment, repeal, or termination.
M.
Proceedings Initiated by Indemnified Persons
.
Notwithstanding any other provision in this Article 10, the Company shall not indemnify a director, officer, employee, or agent for any liability incurred in an action, suit, or proceeding initiated by (which shall not be deemed to include counter-claims or affirmative defenses) or participated in as an intervenor or amicus curiae by the person seeking indemnification unless such initiation of or participation in the action, suit, or proceeding is authorized, either before or after its commencement, by the affirmative vote of a majority of the directors then in office.
N.
Savings Clause
.
If this Article 10 or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify each director, officer, employee, and agent of the Company as to costs, charges, and expenses (including attorneys' fees), judgments, fines, and amounts paid in settlement with respect to any action, suit, or proceeding, whether civil, criminal, administrative, or
3
investigative, including an action by or in the right of the Company to the fullest extent permitted by any applicable portion of this Article 10 that shall not have been invalidated and to the fullest extent permitted by applicable law.
If the laws of the Commonwealth of Pennsylvania are amended to permit further indemnification of the directors, officers, employees, and agents of the Company, then the Company shall indemnify such persons to the fullest extent permitted by law. Any repeal or modification of this Article by the shareholders of the Company shall not adversely affect any right or protection of a director, officer, employee, or agent existing at the time of such repeal or modification.
The Company also maintains directors and officers insurance to insure its directors and officers and the directors and officers of its subsidiaries against certain liabilities.
Item 7. Exemption from Registration Claimed
Not applicable.
Item 8. List of Exhibits
The following exhibits are filed with or incorporated by reference into this Registration Statement on Form S-8 (numbering corresponds generally to Exhibit Table in Item 601 of Regulation S-K):
10.4
North Penn Bank Employees' Savings and Profit Sharing Plan
23
Consent of McGrail Merkel Quinn & Associates
24
Power of Attorney is located on the signature pages.
Item 9. Undertakings
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement.
Provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference into this Registration Statement.
(2)
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
4
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)-(g)
Not applicable.
(h)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
(i)–(l)
Not applicable.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, North Penn Bancorp, Inc. hereby certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Scranton, Commonwealth of Pennsylvania on this 29th day of November 2007.
NORTH PENN BANCORP, INC.
By:
/s/ Frederick L. Hickman
Frederick L. Hickman
President and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
KNOW ALL MEN BY THESE PRESENT, that each person whose signature appears below (other than Mr. Hickman) constitutes and appoints Frederick L. Hickman as the true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any or all amendments to the Form S-8 Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the U.S. Securities and Exchange Commission, respectively, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and things requisite and necessary to be done as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Name
Title
Date
/s/ Frederick L. Hickman
President and Chief Executive Officer (Principal Executive Officer)
November 29, 2007
Frederick L. Hickman
/s/ Glenn J. Clark
Assistant Vice President, and Contractor (Principal Financial Officer)
November 29, 2007
Glenn J. Clark
/s/ Gordon S. Florey
Director
November 29, 2007
Gordon S. Florey
/s/ Herbert C. Kneller
Director
November 29, 2007
Herbert C. Kneller
/s/ Kevin M. Lamont
Director
November 29, 2007
Kevin M. Lamont
/s/ Virginia D. McGregor
Director
November 29, 2007
Virginia D. McGregor
/s/ Frank H. Mechler
Director
November 29, 2007
Frank H. Mechler
/s/ James W. Reid
Director
November 29, 2007
James W. Reid
/s/ David Samuel
Director
November 29, 2007
David Samuel
6
EXHIBIT INDEX
Exhibit No.
Description
Method of Filing
10.4
North Penn Bank Employees' Savings and Profit Sharing Plan
Filed herewith.
23
Consent of McGrail Merkel Quinn & Associates
Filed herewith.
24
Power of Attorney
Located on the signature page.