Company: PNBK
Filing Date: 2025-05-27
Form Type: DEF 14A
Source: 0001140361-25-020413
Chunk: 55

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-27
Form: DEF 14A
Chunk 55
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 to whom an Award is or has been granted. (z) “ Performance Goals”means the performance goals established by the Committee in connection with the grant of Restricted Stock, Restricted Stock Units, Performance Units, Stock Appreciation Rights, or Other Stock-Based Awards.. (aa) “ Performance Period” means that period established by the Committee at the time any Performance Unit is granted or at any time thereafter during which any Performance Goals specified by the Committee with respect to such Award are to be measured; provided that such period shall be no shorter than a fiscal quarter. (bb) “ Performance Unit” means any Award granted under Section 8 of a unit valued by reference to a designated amount of cash or other property other than Shares, which value may be paid to the Participant by delivery of such property as the Committee shall determine, including, without limitation, cash, Shares, or any combination thereof, upon achievement of such Performance Goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter. A-2 (cc) “Plan”means this Patriot National Bancorp, Inc. 2025 Omnibus Equity Incentive Plan, as set forth herein and as hereafter amended from time to time. (dd) “ Replaced Award” has the meaning set forth in Section 10(b). (ee) “Replacement Award ” has the meaning set forth in Section 10(b). (ff) “Restricted Stock” means an Award granted under Section 6. (gg) “Restricted Stock Unit”has the meaning set forth in Section 7. (hh) “ Retirement” means the Participant’s Termination of Employment after the attainment of age 65 or the attainment of age 55 and at least 15 years of service. (ii) “Share”means a share of Common Stock. (jj) “Stock Appreciation Right”has the meaning set forth in Section 5(b). (kk) “Subsidiary”means any corporation, partnership, joint venture, limited liability company or other entity during any period in which at least a majority of the voting or profits interest is owned, directly or indirectly, by the Company or any successor to the Company. (ll) “Tandem SAR”has the meaning set forth in Section 5(b). (mm) “Term”means the maximum period during which an Option or Stock Appreciation Right may remain outstanding, subject to earlier termination upon Termination of Employment or otherwise, as specified in the applicable Award Agreement. (nn) “Termination of