Document:

EX-10.47

 Exhibit 10.47 

Nanophase Technologies Corporation 

Stock Option Agreement 
 Grant
Date: MONTH, DAY, YEAR 
 To: NAME 
 We are pleased to notify
you that Nanophase Technologies Corporation, a Delaware corporation (the “Company”), has granted to you an option under the 2010 Nanophase Technologies Corporation Equity Compensation Plan (the “Plan”) to purchase all or any part
of an aggregate of up to 0,000 shares of the common stock of the Company (the “Optioned Shares”) at a price of $0.00 per share, subject to the terms and conditions of the Plan and of this Agreement as set forth below. 

 

	1.	Term and Exercise of Option. Subject to the provisions of the Plan and this Agreement, this option may be exercised by you during the option term on or prior to DATE TEN YEARS FROM GRANT DATE (the “Last
Exercise Date”) as follows: 

  

			
	 DATE, YEAR 1ST VESTING
	  	- 0,000 Optioned Shares
	 DATE, YEAR 2ND VESTING
	  	- 0,000 Optioned Shares
	 DATE, YEAR 3RD VESTING
	  	- 0,000 Optioned Shares

 Any portion of the options that you do not exercise shall accumulate and can be exercised by you any time prior
to the Last Exercise Date. You may not exercise your option to purchase a fractional share. 
 This option may be exercised by delivering to
the Secretary of the Company (a) a written Notice of Intention to Exercise in the form attached hereto as Exhibit A signed by you and specifying the number of Optioned Shares you desire to purchase, and (b) payment in full of the exercise
price for all such Optioned Shares in cash, by certified check, or other method of payment representing immediately available funds. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after
they shall have been issued to you upon the exercise of this option. Subject to the terms and provisions of this Agreement and the Plan, the Company shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable
after receipt of your Notice of Intention to Exercise. 
  

	2.	Termination of Status. This option is a separate incentive and not in lieu of salary or other compensation. This option does not vest you with any right to continue your status as an employee of the Company
(hereafter called your “Status”), nor is the termination of your Status in any way restricted by this Agreement. Subject to the following provisions of this Section 2, and to the terms and provisions of the Plan, this option will
terminate upon and will not be exercisable after termination of your Status with the Company (the “Status Termination Date”). If your Status with the Company is terminated for any reason whatsoever, this option may not be exercised after
the earlier of (a) ninety (90) days from the Status Termination Date, or (b) the Last Exercise Date, and may not be exercised for more than the number of Optioned Shares purchasable under Section 1 on the Status Termination Date.

  

	3.	Non-transferability of Options. This option shall not be transferable and may be exercised only by you. Any purported transfer or assignment of this option shall be void and of no effect, and shall give the
Company the right to terminate this option as of the date of such purported transfer or assignment. No transfer of any beneficial economic interest as described above by you by operation of law shall be effective unless the Company shall have been
furnished with written notice thereof, and such other evidence as the Board of Directors may deem necessary to establish the validity of the transfer and conditions of the option, and to establish compliance with any laws or regulations pertaining
thereto. 

  
 NAME, NUMBER OF OPTIONS GRANTED, DATE

	4.	Disputes. Any dispute which may arise under or as a result of or pursuant to this Agreement shall be finally and conclusively determined in good faith by the Board of Directors of the Company in its sole
discretion, and such determination shall be binding upon all parties. 

 Nanophase Technologies Corporation 

 

			
	By:	 	 
		 	Its President and Chief Executive Officer

 I have carefully read the foregoing Agreement and the Company’s 2010 Equity Compensation Plan and agree to be bound
thereby. I understand that this is not an “incentive stock option” and does not confer any tax benefits. 
  

	
	   

	

  
 NAME, NUMBER OF OPTIONS GRANTED, DATE

 Appendix A 

Notice of Intention to Exercise Stock Options 

The undersigned grantee of a Nanophase Technologies Corporation (the “Company”) Stock Option Agreement dated DATE, YEAR to purchase up to 0,000
shares of the Company’s common stock hereby gives notice of his intention to exercise the Stock Option (or a portion thereof) and elects to purchase             shares of the
Company’s common stock. 
 Shares should be issued in the name of the undersigned and should be sent to the undersigned at: 

 

	
	 
	
	   

	
	   

	

 Dated this             day of
            ,             . 

Social Security Number or Employer Identification Number:
            -            -             

 

	
	   

	

 Instructions: The exercise of these stock options is irrevocable and effective on the date the Company has received this
Notice of Intention to Exercise Stock Options. The calculation of payment for the exercise will be based on the closing price of the Company’s common stock on the date of exercise and will include a separate calculation for appropriate federal
and state income taxes, if any. 

  
 NAME, NUMBER OF OPTIONS GRANTED, DATEEX-4.1

 Exhibit 4.1 

[Croghan Bancshares, Inc. Letterhead] 

March 28, 2014 
 Securities and Exchange
Commission 
 100 F Street, NE 
 Washington, D.C. 20549 

 

	 	Re:	  Croghan Bancshares, Inc. – Annual Report on Form 10-K for the fiscal year ended December 31, 2013 

Ladies and Gentlemen: 
 Croghan Bancshares,
Inc., an Ohio corporation (“Croghan”), is today filing with the Securities and Exchange Commission (the “SEC”) its Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (“Croghan’s 2013 Form
10-K”). 
 Pursuant to the instructions relating to the Exhibits in Item 601(b)(4)(iii) of Regulation S-K, Croghan hereby agrees
to furnish to the SEC, upon request, copies of instruments and agreements defining the rights of holders of long-term debt and of the long-term debt of its consolidated subsidiary, which are not being filed as exhibits to Croghan’s 2013 Form
10-K. None of such long-term debt exceeds 10% of the total assets of Croghan and its subsidiaries on a consolidated basis. 
  

	
	 Very truly yours,
  

CROGHAN BANCSHARES, INC.

	
	/s/ Kendall W. Rieman
	 Kendall W. Rieman
 Treasurer

  
 53EX-10.8

 Exhibit 10.8 

Employment Agreement with Kendall W. Rieman 
 On September 10,
2013, the Bank entered into an employment agreement with Kendall W. Rieman with respect to Mr. Rieman’s service as Executive Vice President and Chief Financial Officer of the Bank (the “Rieman Agreement”). 

The Rieman Agreement provides for an initial term of two years. Thereafter, the Rieman Agreement will be extended for successive one-year renewal terms unless the
Bank’s Board of Directors elects, in its sole discretion, to terminate the agreement by providing written notice of termination to Mr. Rieman not less than 90 days prior to the end of the initial term or then-applicable renewal term. 

Pursuant to the Rieman Agreement, Mr. Rieman is entitled to receive an annual base salary of $160,000 that may be adjusted in accordance with the salary
administration program in effect for Bank employees generally. Mr. Rieman may be eligible for any incentive bonus payment in each calendar year based on the satisfaction or attainment of performance goals or objectives and such other terms and
conditions as the Board of Directors, in its sole discretion, may provide, and the Board of Directors, in its sole discretion, may also elect to provide Mr. Rieman with additional equity compensation. The Rieman Agreement also provides that the
Bank will pay or reimburse Mr. Rieman for reasonable initiation fees, assessments and periodic membership dues in connection with establishing a membership at a country club or similar membership and a membership in an appropriate service
organization. Mr. Rieman is also entitled to participate in the various employee benefit plans, programs, and arrangements available to other senior officers of the Bank. 

If Mr. Rieman’s employment is terminated by the Bank without “cause” (as defined in the Rieman Agreement) or voluntarily terminates his employment
for “good reason” (as defined in the Rieman Agreement), Mr. Rieman will be entitled to a payment equal to two times his annual base salary. 
 If
Mr. Rieman’s employment is terminated without cause within twenty-four (24) months following a “change in control” (as defined in the Rieman Agreement), in lieu of any other payment under the Rieman Agreement,
Mr. Rieman will be entitled to: (a) two times his annual base salary; (b) a payment equal to 7% of his annual base salary; and (c) a payment equal to his “target” bonus opportunity. 

If any payment or distribution to Mr. Rieman under the Rieman Agreement or otherwise would be subject to the excise tax imposed under Section 4999 of the
Internal Revenue Code of 1986, the payments and or distributions under the Rieman Agreement or otherwise will be reduced to $1.00 less than the amount which would cause the payments or distributions to be subject to the excise tax. 

If, following the termination of Mr. Rieman’s employment other than for cause, the Bank determines that cause to terminate Mr. Rieman existed,
Mr. Rieman will forfeit any future rights to payment under the Rieman Agreement and will be required to repay any amounts paid under the Rieman Agreement upon written notice from the Board of Directors of the Bank. 

The Rieman Agreement contains non-competition and non-solicitation covenants to prevent Mr. Rieman, during the term of the Rieman Agreement and for twenty-four
(24) months thereafter, from competing with the Bank within a 100-mile radius of Fremont, Ohio, or soliciting customers or employees of the Bank to terminate their relationship with the Bank. The Rieman Agreement also contains a nondisclosure
covenant that prevents Mr. Rieman from disclosing confidential information. 

  
 54

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