1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 6, 2007
FOX CHASE BANCORP, INC.
(Exact Name of Registrant as Specified in Its Charter)
UNITED STATES 1-32971 33-1145559
------------- ------- ----------
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
4390 DAVISVILLE ROAD, HATBORO, PENNSYLVANIA 19040
-------------------------------------------------
(Address of principal executive offices) (Zip Code)
(215) 682-7400
--------------
(Registrant's telephone number, including area code)
NOT APPLICABLE
--------------
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
2
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
------------------------------------------------------------------
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS
----------------------------------------------------------
OF CERTAIN OFFICERS.
-------------------
On September 6, 2007, James V. Schermerhorn, Executive Vice President
and Chief Lending Officer of Fox Chase Bank (the "Bank"), the wholly-owned
subsidiary of Fox Chase Bancorp, Inc., entered into a retention incentive
agreement with the Bank, pursuant to which Mr. Schermerhorn will receive a lump
sum payment of $130,000, less applicable tax withholding, at age 65 provided
that he remains employed with the Bank in his present position through the last
day of the month in which he reaches age 65. In addition, if before the
scheduled payment date, Mr. Schermerhorn's employment is terminated because of
his death or disability (as defined in the agreement), or by the Bank without
cause (as defined in the agreement), Mr. Schermerhorn will receive the retention
incentive payment within thirty days of his termination date. Mr. Schermerhorn
is not entitled to the payment if his employment is terminated by the Bank for
cause.
3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: September 7, 2007 By: /s/ Jerry D. Holbrook
-----------------------------------
Jerry D. Holbrook
Executive Vice President and Chief
Financial Officer
00303834.DOC