Document:

Exhibit
10.1

    
 

    OHIO
LEGACY CORP.

    2010
EQUITY AND CASH INCENTIVE PLAN

    INCENTIVE
STOCK OPTION AWARD AGREEMENT

    

    Ohio
Legacy Corp. (the “Company”) hereby grants the undersigned Participant an
Incentive Stock Option (“Option”) to purchase Shares, subject to the terms and
conditions described in the Ohio Legacy Corp. 2010 Equity and Cash
Incentive Plan (the “Plan”) and this Incentive Stock Option Award Agreement
(this “Award Agreement”).  The Option is intended to qualify as an
“incentive stock option” under Section 422 of the Code.  If for any
reason the Option does not qualify as an incentive stock option, then, to the
extent it does not so qualify, the option will be treated as a Nonqualified
Stock Option.

     

    
      	
              1. 

            	
              Name of
      Participant: 
      ______________________________________

            

    

     

    
      	
              2. 

            	
              Grant Date:
      _______________________________ (the “Grant
  Date”)

            

    

     

    
      	
              3. 

            	
              Number of Shares Subject to
      the Option:
_______________________

            

    

     

    
      	
              4. 

            	
              Exercise Price Per
      Share:
  ___________________________________

            

    

     

    
      
        
          
            
              
                
                  
                    
                      	
                              5. 

                            	
                              Vesting: Provided that
      the Participant has not terminated prior to such date, the Option will
      vest and become exercisable as to:
      _______________________________________________________________________________

                            
	 	 
	 	 
	 	
                              .

                            

                    

                  

                

              

            

          

        

      

      
         

      

    

    
      	
              6. 

            	
              Exercise:

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      General.  The vested portion of the Option may be
      exercised at any time prior to the tenth anniversary of the Grant Date
      (the “Expiration Date”) except: (i) as provided in Section 6(b); or (ii)
      to the extent that the Compensation Committee  of the Company’s
      Board of Directors (“Committee”) determines otherwise in connection with a
      Change in Control.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Effect of
      Termination.  If the Participant’s employment terminates
      prior to the Expiration Date, the Option will remain exercisable or be
      canceled and forfeited, as applicable, as described
  below:

            

    

     

    
      	
               
      

            	
              (i)

            	
              Termination – Other
      Than for Cause.  If the Participant Terminates (other
      than for Cause): (A) the unvested portion of the Option will be
      canceled and forfeited on the termination date; and (B) the vested portion
      of the Option may be exercised at any time before the Expiration Date;
      provided, however, that if the Option is not exercised within three months
      following the date of termination, it will be treated as a Nonqualified
      Stock Option.

            

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (ii)

            	
              Death or
      Disability.  If the Participant terminates due to death
      or Disability: (A) the unvested portion of the Option will be
      canceled and forfeited on the termination date; and (B) the vested portion
      of the Option may be exercised at any time before the earlier of the
      Expiration Date or the first anniversary of the termination
      date.

            

    

     

    
      	
               
      

            	
              (iii)

            	
              Termination for
      Cause.  If the Participant is terminated for Cause, the
      Option (whether or not then exercisable) will be canceled and forfeited on
      the termination date.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Procedure.  In
      order to exercise the Option, the Participant must: (i) complete an
      Incentive Stock Option Exercise Form in a form provided by the Committee;
      (ii) deliver a copy of the completed Incentive Stock Option Exercise Form
      to Rick Hull, Ohio Legacy Corp., 600 South Main Street, North Canton, Ohio
      44720; and (iii) pay the Exercise Price for each Share being purchased in
      accordance with Section 6(d), below. The Option may be exercised with
      respect to whole Shares only.  Any fractional Shares will be
      settled in cash.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Payment of Exercise
      Price.  The Participant may pay the Exercise Price for
      each Share being purchased upon the exercise of the Option: (i) in cash or
      its equivalent; (ii) by tendering whole Shares owned by the Participant
      for at least six months before the Option is exercised (or such other
      period required to obtain favorable accounting treatment and to comply
      with Section 16 of the Act); (iii) by a cashless exercise (including by
      withholding Shares delivered upon exercise and through a broker-assisted
      arrangement, to the extent permitted by applicable law); (iv) by any
      combination of the methods described in clauses (i), (ii) or (iii); or (v)
      through any other method approved by the Committee in its sole
      discretion.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Delivery of
      Shares.  As soon as practicable after receipt of the
      Incentive Stock Option Exercise Form and full payment of the aggregate
      Exercise Price, the Company will cause the appropriate number of Shares to
      be delivered to the Participant.

            

    

     

    
      	
              7.

            	
              Change in Control: In the event of a
      Change in Control, Article XII of the Plan shall apply with respect to the
      outstanding and unexercised portion of the Option; provided, however, that
      if the Committee elects to: (a) cancel the outstanding and unexercised
      portion of the Option in connection with the Change in Control, the
      Participant shall be entitled to receive a cash payment equal to the
      excess, if any, of the value of the consideration to be paid in the Change
      in Control to holders of the same number of Shares as the number of Shares
      underlying the Option being cancelled (or, if no consideration is paid in
      the Change in Control, the Fair Market Value of the Shares underlying the
      Option being canceled) over the aggregate Exercise Price of the Option
      being canceled; or (b) cause a substitute award to be issued with respect
      to the outstanding and unexercised portion of the Option in connection
      with the Change in Control, the substitute award shall substantially
      preserve the value, rights and benefits of the Option being
      substituted.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
              8.

            	
              Restrictive
    Covenants:

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      consideration for the grant of the Option, the Participant hereby
      covenants and agrees that the Participant shall not, during the
      Participant’s service with the Company and for a period of one year
      thereafter, directly or indirectly, or in concert with any other person,
      corporation, partnership, proprietorship or other business
      enterprise:

            

    

     

    
      	
               
      

            	
              (i)

            	
              Call
      upon or solicit, either for the Participant or for any other person or
      firm that engages in competition with any business operation of the kind
      actively conducted by the Company or any current or future Affiliate, any
      customer with whom the Company or any current or future Affiliate directly
      conducts business, any referral source of the Company or any current or
      future Affiliate (including, solely by way of example, intermediaries and
      corporations that purchase directly from the Employer or any current or
      future Affiliate);

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Interfere
      with any relationship, contractual or otherwise, between the Employer or
      any current or future Affiliate, any customer with whom the Employer or
      any current or future Affiliate directly conducts business, or any
      referral source of the Employer of any current or future Affiliate;
      or

            

    

     

    
      	
               
      

            	
              (iii)

            	
              Induce
      any person who is or was during any of the preceding 12 months an
      employee, officer or agent of the Employer or any current or future
      Affiliate to terminate said
relationship.

            

    

     

    
      	
               
      

            	
              (b)

            	
              In
      the event that any covenants set forth in this Section 8 shall be
      determined by a court of competent jurisdiction to be unenforceable
      because it extends over too great a period of time, or for any other
      reason, such covenant shall be interpreted to extend only over the maximum
      period of other restrictions to which they may be
    enforceable.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      covenants set forth in this Section 8 shall remain in effect regardless of
      whether the Participant exercises the Option in whole or in
      part.

            

    

     

    
      	
               
      

            	
              (d)

            	
              The
      Participant acknowledges that a breach of the covenant set forth in this
      Section 8 may cause irreparable damage to the Company and its Affiliates,
      the extent of which may be difficult to ascertain, and that the award of
      damages may not be adequate relief.  The Participant agrees
      that, in the event of a breach or threatened breach of the covenants
      contained in this Section 8, the Company may institute an action to compel
      the specific performance of such covenants, and that such remedy shall be
      cumulative, not exclusive, and shall be in addition to any other available
      remedies.

            

    

     

    
      	
              9.

            	
              Mandatory Notice of
      Disqualifying Disposition:  Without limiting any other
      provision herein, if the Participant disposes (whether by sale, exchange,
      gift or otherwise) of any of the Shares acquired pursuant to the exercise
      of the Option within two years of the Grant Date or within one year after
      the transfer of such Shares to the Participant, the Participant must
      notify the Company of such disposition in writing 30 days from the date of
      such disposition.  Such written notice will state the principal
      terms of such disposition and the type and amount of consideration
      received for such Shares by the Participant in connection with such
      disposition.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
              10. 

            	
              Other Terms and
      Conditions:

            

    

     

    
      	
               
      

            	
              (a)

            	
              Rights Before the
      Option Is Exercised.  The Participant will have no rights
      as a shareholder with respect to the Shares underlying the Option,
      including, without limitation, any right to vote or receive any dividends
      associated with the Shares underlying the Option, until the Participant
      becomes the record owner of the Shares acquired upon exercise of the
      Option.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Beneficiary
      Designation. The Participant
      may name a beneficiary or beneficiaries to receive or exercise any vested
      portion of the Option that is unexercised at the Participant’s death by
      completing a Beneficiary Designation Form in a form acceptable to the
      Committee. The Beneficiary Designation Form does not need to be completed
      now and is not required to be completed as a condition of exercising the
      Option.  However, if the Participant dies without completing a
      Beneficiary Designation Form or if the Participant does not complete the
      form correctly, the Participant’s beneficiary will be the Participant’s
      surviving spouse or, if the Participant does not have a surviving spouse,
      the Participant’s estate.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Transferring the
      Option.  Except to the extent the Committee permits
      otherwise, the Option may not be sold, transferred, pledged, assigned or
      otherwise alienated or hypothecated, except by will or the laws of descent
      and distribution.  However, as described in Section 10(b), the
      Participant may designate a beneficiary to exercise the Option if the
      Participant dies before the Option
expires.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Governing
      Law.  This Award Agreement will be construed in
      accordance with, and governed by the laws (other than laws governing
      conflicts of laws) of, the State of
Ohio.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Option Subject to
      Plan. The Option is subject to the terms and conditions described
      in this Award Agreement and the Plan, which is incorporated by reference
      into and made a part of this Award Agreement.  In the event of a
      conflict between the terms of the Plan and the terms of this Award
      Agreement, the terms of the Plan will govern. The Committee has the sole
      responsibility of interpreting the Plan and this Award Agreement, and its
      determination of the meaning of any provision in the Plan or this Award
      Agreement will be binding on the Participant. Capitalized terms that are
      not defined in this Award Agreement have the same meanings as in the
      Plan.

            

    

     

    
      	
               
      

            	
              (f)

            	
              Signature in
      Counterparts.  This Award Agreement may be signed in
      counterparts, each of which will be deemed an original, but all of which
      will constitute one and the same
instrument.

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              
                	
                        PARTICIPANT

                      	 
      	 
      	 
      
	 	 	 	 
	 
      	 
      	
                        Date: 

                      	 
      
	
                        Signature

                      	 
      	 
      	 
      
	 	 	 	 
	 
      	 
      	 
      	 
      
	
                        Print
      Name

                      	
                              

                      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                        OHIO
      LEGACY CORP.

                      	 
      	 
      	 
      
	 	 	 	 
	
                        By:

                      	
                          

                      	 
      	
                        Date: 

                      	
                           

                      
	 
      	
                        [Insert
      name and title]

                      	 
      	 
      	 
      

              

            

          

        

      

    

    
 

    
      
         

      

      
        5Exhibit
10.2

    

    OHIO
LEGACY CORP.

    2010
EQUITY AND CASH INCENTIVE PLAN

    NONQUALIFIED
STOCK OPTION AWARD AGREEMENT

    

    Ohio
Legacy Corp. (the “Company”) hereby grants the undersigned Participant a
Nonqualified Stock Option (“Option”) to purchase Shares, subject to the terms
and conditions described in the Ohio Legacy Corp. 2010 Equity and Cash
Incentive Plan (the “Plan”) and this Nonqualified Stock Option Award Agreement
(this “Award Agreement”).  The Option is not intended to qualify as an
“incentive stock option” under Section 422 of the Code.

     

    
      	
              1.

            	
              Name of
      Participant: ______________________________________

            

    

     

    
      	
              2.

            	
              Grant Date:
      _______________________________ (the “Grant
  Date”)

            

    

     

    
      	
              3.

            	
              Number of Shares Subject to
      the Option:
_______________________

            

    

     

    
      	
              4.

            	
              Exercise Price Per
      Share:
  ___________________________________

            

    

     

    
      
        	
                5.

              	
                Vesting:  Provided
      that the Participant has not terminated prior to such date, the Option
      will vest and become exercisable as to:
      ______________________________________________________________________________

                ____________________________________________________________________________________________

                ____________________________________________________________________________________________

                ____________________________________________________________________________________________.

              

      

    

     

    
      	
              6.

            	
              Exercise:

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      General.  The vested portion of the Option may be
      exercised at any time prior to the tenth anniversary of the Grant Date
      (the “Expiration Date”) except: (i) as provided in Section 6(b); or (ii)
      to the extent that the Compensation Committee of the Company’s Board of
      Directors (“Committee”) determines otherwise in connection with a Change
      in Control.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Effect of
      Termination.  If the Participant’s employment terminates
      prior to the Expiration Date, the Option will remain exercisable or be
      canceled and forfeited, as applicable, as described
  below:

            

    

     

    
      	
               
      

            	
              (i)

            	
              Termination – Other
      Than for Cause.  If the Participant Terminates (other
      than for Cause): (A) the unvested portion of the Option will be
      canceled and forfeited on the termination date; and (B) the vested portion
      of the Option may be exercised at any time before the Expiration
      Date.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Death or
      Disability.  If the Participant terminates due to death
      or Disability: (A) the unvested portion of the Option will be
      canceled and forfeited on the termination date; and (B) the vested portion
      of the Option may be exercised at any time before the earlier of the
      Expiration Date or the first anniversary of the termination
      date.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (iii)

            	
              Termination for
      Cause.  If the Participant is terminated for Cause, the
      Option (whether or not then exercisable) will be canceled and forfeited on
      the termination date.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Procedure.  In
      order to exercise the Option, the Participant must: (i) complete an
      Nonqualified Stock Option Exercise Form in a form provided by the
      Committee; (ii) deliver a copy of the completed Nonqualified Stock Option
      Exercise Form to Rick Hull, Ohio Legacy Corp., 600 South Main Street,
      North Canton, Ohio 44720; and (iii) pay the Exercise Price for each Share
      being purchased in accordance with Section 6(d), below. The Option may be
      exercised with respect to whole Shares only.  Any fractional
      Shares will be settled in cash.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Payment of Exercise
      Price.  The Participant may pay the Exercise Price for
      each Share being purchased upon the exercise of the Option: (i) in cash or
      its equivalent; (ii) by tendering whole Shares owned by the Participant
      for at least six months before the Option is exercised (or such other
      period required to obtain favorable accounting treatment and to comply
      with Section 16 of the Act); (iii) by a cashless exercise (including by
      withholding Shares delivered upon exercise and through a broker-assisted
      arrangement, to the extent permitted by applicable law); (iv) by any
      combination of the methods described in clauses (i), (ii) or (iii); or (v)
      through any other method approved by the Committee in its sole
      discretion.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Delivery of
      Shares.  As soon as practicable after receipt of the
      Incentive Stock Option Exercise Form and full payment of the aggregate
      Exercise Price, the Company will cause the appropriate number of Shares to
      be delivered to the Participant.

            

    

     

    
      	
              7.

            	
              Change in Control: In the event of a
      Change in Control, Article XII of the Plan shall apply with respect to the
      outstanding and unexercised portion of the Option; provided, however, that
      if the Committee elects to: (a) cancel the outstanding and unexercised
      portion of the Option in connection with the Change in Control, the
      Participant shall be entitled to receive a cash payment equal to the
      excess, if any, of the value of the consideration to be paid in the Change
      in Control to holders of the same number of Shares as the number of Shares
      underlying the Option being cancelled (or, if no consideration is paid in
      the Change in Control, the Fair Market Value of the Shares underlying the
      Option being canceled) over the aggregate Exercise Price of the Option
      being canceled; or (b) cause a substitute award to be issued with respect
      to the outstanding and unexercised portion of the Option in connection
      with the Change in Control, the substitute award shall substantially
      preserve the value, rights and benefits of the Option being
      substituted.

            

    

     

    
      	
              8.

            	
              Restrictive
    Covenants:

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      consideration for the grant of the Option, the Participant hereby
      covenants and agrees that the Participant shall not, during the
      Participant’s service with the Company and for a period of one year
      thereafter, directly or indirectly, or in concert with any other person,
      corporation, partnership, proprietorship or other business
      enterprise:

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (i)

            	
              Call
      upon or solicit, either for the Participant or for any other person or
      firm that engages in competition with any business operation of the kind
      actively conducted by the Company or any current or future Affiliate, any
      customer with whom the Company or any current or future Affiliate directly
      conducts business, any referral source of the Company or any current or
      future Affiliate (including, solely by way of example, intermediaries and
      corporations that purchase directly from the Employer or any current or
      future Affiliate);

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Interfere
      with any relationship, contractual or otherwise, between the Employer or
      any current or future Affiliate, any customer with whom the Employer or
      any current or future Affiliate directly conducts business, or any
      referral source of the Employer of any current or future Affiliate;
      or

            

    

     

    
      	
               
      

            	
              (iii)

            	
              Induce
      any person who is or was during any of the preceding 12 months an
      employee, officer or agent of the Employer or any current or future
      Affiliate to terminate said
relationship.

            

    

     

    
      	
               
      

            	
              (b)

            	
              In
      the event that any covenants set forth in this Section 8 shall be
      determined by a court of competent jurisdiction to be unenforceable
      because it extends over too great a period of time, or for any other
      reason, such covenant shall be interpreted to extend only over the maximum
      period of other restrictions to which they may be
    enforceable.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      covenants set forth in this Section 8 shall remain in effect regardless of
      whether the Participant exercises the Option in whole or in
      part.

            

    

     

    
      	
               
      

            	
              (d)

            	
              The
      Participant acknowledges that a breach of the covenant set forth in this
      Section 8 may cause irreparable damage to the Company and its Affiliates,
      the extent of which may be difficult to ascertain, and that the award of
      damages may not be adequate relief.  The Participant agrees
      that, in the event of a breach or threatened breach of the covenants
      contained in this Section 8, the Company may institute an action to compel
      the specific performance of such covenants, and that such remedy shall be
      cumulative, not exclusive, and shall be in addition to any other available
      remedies.

            

    

     

    
      	
              9.

            	
              Other Terms and
      Conditions:

            

    

     

    
      	
               
      

            	
              (a)

            	
              Rights Before the
      Option Is Exercised.  The Participant will have no rights
      as a shareholder with respect to the Shares underlying the Option,
      including, without limitation, any right to vote or receive any dividends
      associated with the Shares underlying the Option, until the Participant
      becomes the record owner of the Shares acquired upon exercise of the
      Option.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (b)

            	
              Beneficiary
      Designation. The Participant
      may name a beneficiary or beneficiaries to receive or exercise any vested
      portion of the Option that is unexercised at the Participant’s death by
      completing a Beneficiary Designation Form in a form acceptable to the
      Committee. The Beneficiary Designation Form does not need to be completed
      now and is not required to be completed as a condition of exercising the
      Option.  However, if the Participant dies without completing a
      Beneficiary Designation Form or if the Participant does not complete the
      form correctly, the Participant’s beneficiary will be the Participant’s
      surviving spouse or, if the Participant does not have a surviving spouse,
      the Participant’s estate.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Transferring the
      Option.  Except to the extent the Committee permits
      otherwise, the Option may not be sold, transferred, pledged, assigned or
      otherwise alienated or hypothecated, except by will or the laws of descent
      and distribution.  However, as described in Section 9(b), the
      Participant may designate a beneficiary to exercise the Option if the
      Participant dies before the Option
expires.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Withholding.  The
      Company or an Affiliate, as applicable, shall have the power and the right
      to deduct, withhold or collect any amount required by law or regulation to
      be withheld with respect the exercise of the Option as described in the
      Plan and the Nonqualified Stock Option Exercise
  Form.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Governing
      Law.  This Award Agreement will be construed in
      accordance with, and governed by the laws (other than laws governing
      conflicts of laws) of, the State of
Ohio.

            

    

     

    
      	
               
      

            	
              (f)

            	
              Option Subject to
      Plan. The Option is subject to the terms and conditions described
      in this Award Agreement and the Plan, which is incorporated by reference
      into and made a part of this Award Agreement.  In the event of a
      conflict between the terms of the Plan and the terms of this Award
      Agreement, the terms of the Plan will govern. The Committee has the sole
      responsibility of interpreting the Plan and this Award Agreement, and its
      determination of the meaning of any provision in the Plan or this Award
      Agreement will be binding on the Participant. Capitalized terms that are
      not defined in this Award Agreement have the same meanings as in the
      Plan.

            

    

     

    
      	
               
      

            	
              (g)

            	
              Signature in
      Counterparts.  This Award Agreement may be signed in
      counterparts, each of which will be deemed an original, but all of which
      will constitute one and the same
instrument.

            

    

     

    [signature
page attached]

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              	
                      PARTICIPANT

                    	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                      Date:
      _____________________________

                    	 
      
	
                      Signature

                    	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                      Print
      Name

                    	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                      OHIO
      LEGACY CORP.

                    	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                      By:

                    	 
      	 
      	
                      Date:
      _____________________________

                    	 
      
	 
      	
                      [Insert
      name and title]

                    	 
      	 
      	 
      

            

          

        

      

    

    
      
         

      

      
        5

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