Company: PNBK
Filing Date: 2025-05-16
Form Type: PRE 14A
Source: 0001140361-25-019517
Chunk: 52

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-16
Form: PRE 14A
Chunk 52
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 Option that is designated in the applicable Award Agreement as an “incentive stock option” within the meaning of Section 422 of the Code, and that in fact so qualifies. (u) “Individual Agreement”means an employment, consulting or similar agreement between a Participant and the Company or one of its Subsidiaries or Affiliates. (v) “Nonqualified Option”means any Option that is not an Incentive Stock Option. (w) “Option”means an Incentive Stock Option or a Nonqualified Option granted under Section 5. (x) “Other Stock-Based Award”means Awards of Common Stock and other Awards that are valued in whole or in part by reference to, or are otherwise based upon, Common Stock, including (without limitation) unrestricted stock, dividend equivalents, and convertible debentures. (y) “Participant”means an Eligible Individual 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