Summary of METRO BANCORP, INC.

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective September 17, 2012, the Board of Directors of Metro Bancorp, Inc. (the "Company" or "Metro"), following the recommendation and approval of the Company's Compensation Committee, approved an employment agreement of the Company and its wholly-owned subsidiary, Metro Bank for Adam L. Metz, Senior Vice President and Chief Lending Officer (the "executive officer" or "executive").

The employment agreement is for a period of two years and shall automatically renew and be extended for a new two-year term on each anniversary date of the agreement unless either party gives the other party written notice no later than
(90) days before any such anniversary date. The compensation payable for the first year of the agreement to the executive officer is $200,000. The executive is also eligible to receive a discretionary bonus each year if objective and reasonable performance metrics are achieved with respect to both corporate and personal performance. Other benefits are available to the executive through normal operations as they would be available to other senior executives.

If Metro terminates the executive's employment other than for cause or for "good reason" (as such terms are defined in the agreement), then Metro shall pay his full base salary through the date of termination. In lieu of any further salary payments, for a period subsequent to the date of termination, Metro shall pay as severance pay to the executive officer a lump sum severance payment equal to the amount executive officer would have been paid for the remainder of the term had the executive officer continued working until the end of the executive's term. Additionally, if the executive officer shall terminate his employment following a "change in control" of the Company, the executive officer would be entitled under certain circumstances to receive a lump sum severance payment equal to two
(2) times average annual base salary in effect during the twenty-four (24) months immediately preceding such termination. The agreement includes a noncompetition provision that extends throughout the term of employment and up to a period of 12 months following the termination of employment, dependent upon various reasons.

The foregoing description of the agreement is not complete and is qualified in its entirety by reference to the agreement, a copy of which is filed as Exhibit 10.1.