Company: PNBK
Filing Date: 2025-05-16
Form Type: PRE 14A
Source: 0001140361-25-019517
Chunk: 50

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-16
Form: PRE 14A
Chunk 50
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 the Company’s ethics and compliance program, or (E) before a Change in Control, such other events as shall be determined by the Committee and set forth in a Participant’s Award Agreement. Notwithstanding the general rule of Section 2(c), following a Change in Control, any determination by the Committee as to whether “Cause” exists shall be subject to de novoreview by an independent third party. (g) “Change in Control”has the meaning set forth in Section 10(d). (h) “Code”means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto, the Treasury Regulations thereunder and other relevant interpretive guidance issued by the Internal Revenue Service or the Treasury Department. Reference to any specific section of the Code shall be deemed to include such regulations and guidance, as well as any successor provision of the Code. (i) “Committee”has the meaning set forth in Section 2(a). (j) “Common Stock”means common stock, par value $.01 per share, of the Company. (k) “Company”means Patriot National Bancorp, Inc., a Connecticut corporation. (l) “Disability”means (i) “Disability” as defined in any Individual Agreement to which the Participant is a party, (ii) if there is no such Individual Agreement or it does not define “Disability,” disability of a Participant means the Participant is (A) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (B) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company. The Committee may require such medical or other evidence as it deems necessary to judge the nature and duration of the Participant’s condition. Notwithstanding the above, with respect to an Incentive Stock Option, Disability shall mean permanent and total disability as defined in Section 22(e)(3) of the Code. A-1 (m) “Disaffiliation”means a Subsidiary’s or Affiliate’s ceasing to be a Subsidiary or Affiliate for any reason (including, without limitation, as