Document:

Non-Employee Director Equity Incentive Compensation Plan

 Exhibit 10.2 
 THE MONSANTO COMPANY 
 NON-EMPLOYEE DIRECTOR EQUITY INCENTIVE COMPENSATION
PLAN 
 (As Amended And Restated Effective April 17, 2012) 

1. NAME OF PLAN; PLAN DOCUMENT. This plan shall be known as the “The Monsanto Company Non-Employee Director Equity Incentive
Compensation Plan” and is hereinafter referred to as the “Plan.” The Plan document consists of this document and the Procedures (as defined below) established from time to time as contemplated hereby. 

2. PURPOSES OF PLAN. The purposes of the Plan are to enable Monsanto Company, a Delaware corporation (the “Company”), to
retain qualified persons to serve as Directors by providing for their compensation and permitting them to elect to defer a portion thereof, and to further align the interests of Directors with the interests of shareowners of the Company by providing
them with equity-based compensation. 
 3. EFFECTIVE DATE AND TERM. The Plan was established by the Board, effective as of
September 20, 2000 (the “Effective Date”), subsequently amended by the Board effective as of September 19, 2002, December 3, 2003, and May 1, 2005, and further amended and restated as of September 1, 2007 and
September 1, 2011. The Plan was again amended and restated effective as of April 17, 2012, which amendment and restatement shall govern all compensation earned hereunder on and after April 17, 2012 (with the applicable pre-amendment
versions of the Plan to govern compensation earned prior to April 17, 2012). The Plan shall remain in effect until terminated by action of the Board, or until all Participants have received all amounts to which they are entitled hereunder, if
earlier. 
 4. DEFINITIONS. The following terms shall have the meanings set forth below: 

“Additional Retainer” means any additional retainer to which a Director is entitled under this Plan for service in a specified
position, as set forth in Section 6(a). 
 “Annual Additional Retainer Amount” means the annualized value of the
Additional Retainer to which a Director is entitled under this Plan as of any particular time. 
 “Annual Basic Retainer
Amount” means the annualized value of the Basic Retainer to which a Director is entitled under this Plan as of any particular time. 
 “Annual Meeting” means an annual meeting of the shareowners of the Company. 
 “Annual Retainer Amount” means the annualized value of the Retainer to which a Director is entitled under this Plan as of any particular time. 

 “Basic Retainer” means the retainer to which each Director is entitled under this
Plan for service on the Board, as set forth in Section 6(a). 
 “Beneficiaries” has the meaning set forth in
Section 7(b)(iii). 
 “Beneficiary Designation” has the meaning set forth in Section 7(b)(iii). 

“Board” means the Board of Directors of the Company. 
 “Cash Account” has the meaning set forth in Section 7(a). 

“Chairman” means the Chairman of the Board. 
 “Committee” means the People and Compensation Committee of the Board. 

“Common Stock” means the Company’s common stock, par value $ 0.01 per share. 

The “Company” means Monsanto Company, a Delaware corporation. 

“Crediting Date” has the meaning set forth in Section 6(c)(iii). 

“Current Cash” has the meaning set forth in Section 6(a). 

“Deferral Account” means a bookkeeping account maintained by the Company for a Director representing the Director’s
interest in the stock units or cash credited to such account pursuant to Sections 6 and 7. 
 “Deferred Cash” has the
meaning set forth in Section 6(a). 
 “Deferred Stock” means shares of Common Stock credited to a Stock Unit
Account pursuant to Section 6(c)(ii) and Section 7 and later delivered pursuant to Section 7. 
 “Delivery
Election” has the meaning set forth in Section 7(b)(i). 
 “Delivery Starting Date” has the meaning set
forth in the Procedures. 
 “Director” means an individual who is a non-employee member of the Board. 

The “Dividend Equivalent” for a given dividend or distribution means a number of shares (or fractions of a share) of Common
Stock having a Value, as of the date such Dividend Equivalent is credited to a Stock Unit Account, equal to the amount of cash, plus the fair market value on the date of distribution of any property, that is distributed with respect to one share of
Common Stock pursuant to such dividend or distribution; such fair market value to be determined by the Committee in good faith. 

  
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 “Elective Amount” has the meaning set forth in Section 6(a). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

The “Initial Participation Date” for a Participant means the first day on which he or she became a Participant. 

The “Interest Rate” for a calendar year means the average Moody’s Baa Bond Index Rate, as in effect from time to time.

 “Long-Term Incentive Plan” means the Monsanto Company 2005 Long-Term Incentive Plan (as Amended and Restated as of
January 24, 2012), as it may be amended from time to time. 
 “Month” means a calendar month. 

“Participant” has the meaning set forth in Section 5. 

“Periodic Election” has the meaning set forth in Section 6(a). 

“Plan” has the meaning set forth in Section 1. 
 “Plan Year” means each period that begins on a September 1 and ends on the following August 31. 
 “Procedures” means the rules established by the Committee relating to Periodic Elections, Delivery Elections and other compensation payable hereunder that is subject to Section 409A, as
more fully described in Section 12. 
 “Required Deferred Stock Amount” has the meaning set forth in
Section 6(a). 
 “Restricted Shares” means shares of Common Stock granted in accordance with
Section 6(c)(ii). 
 “Retainer” means the sum of the Basic Retainer and any Additional Retainer to which a
Director is entitled under this Plan. 
 “Section” means a section of the Plan except where otherwise specifically
indicated. 

  
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 “Section 409A” means Section 409A of the Internal Revenue Code of 1986, as
amended, and the regulations promulgated thereunder. 
 “Stock Unit Account” has the meaning set forth in
Section 7(a). 
 “Term” means the term of years for which a Participant has been elected a Director. 

The “Termination Date” for a Participant is the date of the Participant’s “separation from service” within the
meaning of Section 409A. 
 The “Value” of a share of Common Stock shall mean, with respect to any given date,
the closing per-share sales prices for the shares of Common Stock during normal business hours on the New York Stock Exchange for that date, or if the shares of Common Stock were not traded on the New York Stock Exchange on that date, then on the
next preceding date on which the shares were traded, all as reported by such source as the Committee may select. 

5. ELIGIBLE PARTICIPANTS. Each individual who is a Director on the Effective Date or becomes a Director thereafter while the Plan is
in effect shall be a participant (“Participant”) in the Plan. 
 6. DIRECTOR COMPENSATION. (a) GENERAL. In
consideration for his or her services as a Director, each Participant shall receive an annual value equal to the Basic Retainer plus any Additional Retainer that may apply, in the forms provided for in this Plan. Effective as of September 1,
2011, the Annual Basic Retainer Amount for all Directors shall be $215,000, and the Annual Additional Retainer Amount for a Director shall be, as applicable: (i) for service as a non-employee Chairman of the Board, $40,000; (ii) for
service as the Lead Director of the Board, $25,000; (iii) for service as the Chair of the Audit and Finance Committee of the Board, $35,000; (iv) for service as the Chair of the People and Compensation Committee of the Board or the Chair
of the Nominating and Corporate Governance Committee of the Board, $25,000; (v) for service as the Chair of the Sustainability and Corporate Responsibility Committee of the Board or the Chair of the Science and Technology Committee of the
Board, $20,000; and (vi) for service as a member of the Audit and Finance Committee of the Board other than as the Chair of such committee, for service a member of the People and Committee of the Board other than as the Chair of such committee,
or for service as a member of the Nominating and Corporate Governance Committee of the Board other than as the Chair of such committee, $15,000, provided, however, that the Board may specify different Annual Basic Retainer Amounts and/or
different Annual Additional Retainer Amounts from time to time. If a Director serves in more than one of the positions listed in the preceding sentence, he or she shall receive an aggregate Additional Retainer equal to the sum of the applicable
amounts specified in the preceding sentence for each such position. Any increase or decrease in a Director’s Annual Retainer Amount that results from a change in the Director’s position(s) shall take effect as of the first day of the Month
in which the change in position occurs, and the Retainer actually paid or provided to the Director under this Plan shall be adjusted appropriately, pro-rata based upon the number of Months in the Plan Year from and after the Month in which the
change occurs. 

  
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 Retainers shall be provided as follows: (i) half of each Retainer (the “Required
Deferred Stock Amount”) shall take the form of Deferred Stock, as more fully set forth in Section 6(c); and (ii) the other half of each Retainer (the “Elective Amount”) shall take the form of (A) cash paid currently
(“Current Cash”) or deferred cash (“Deferred Cash”), as more fully set forth in Section 6(b), or (B) Restricted Shares or additional Deferred Stock, as more fully set forth in Section 6(c), or a combination
thereof. 
 Each Participant shall be provided with the opportunity, in accordance with, and subject to any limitations set
forth in, the Procedures, to make elections with respect to periods during which he or she is a Participant (a “Periodic Election”) specifying what portion of the Elective Amount for such periods will be provided to the Participant in the
form of Current Cash, Deferred Cash, Restricted Shares and Deferred Stock. A Periodic Election or any permitted revocation thereof or change thereto shall be made at such time or times, and in such forms, and shall take effect at such time, and for
such periods, as may be specified in the Procedures. Unless and until a Periodic Election takes effect for a Participant in accordance with the Procedures, he or she shall receive the entire Elective Amount in the form of Current Cash. 

Each non-employee Director shall be granted shares of restricted Common Stock on the date he or she commences service as a member of the
Board, upon such terms and conditions as approved by the Board. The number of shares of restricted Common Stock granted to the Director shall be equal to: (i) the amount of the Annual Basic Retainer Amount in effect on the date the Director
commences service as a member of the Board; divided by (ii) the Value of a share of Common Stock on such date. 
 (b) CASH. The portion, if any, of the Elective Amount for a particular Plan Year that the Participant elects to have paid in Current Cash shall be paid, and the portion, if any, of the Elective
Amount for a particular Plan Year that the Participant elects to have paid in Deferred Cash shall be credited to a Cash Account maintained by the Company pursuant to Section 7 below, in each case in substantially equal monthly installments on
the last day of each Month that occurs during the Plan Year for which it is paid or credited (as applicable), but in each case only if the Participant remains a Director on that day. If a Participant’s Termination Date occurs other than on the
last day of a Month, the Participant shall forfeit any Current Cash and any Deferred Cash attributable to periods following the last day of the preceding Month. 

(c) STOCK. (i) The portion, if any, of the Elective Amount that the Participant elects to have provided in
Restricted Shares shall be issued, as of the applicable Crediting Date, in the name of the Participant in the form of a number of shares of Common Stock having a Value, as of the applicable Crediting Date, equal to the amount of such portion. Such
shares shall be forfeitable and nontransferable, until they vest in accordance with the provisions of Section 6(c) (iv). The Restricted Shares shall be issued to Participants in 

  
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accordance with the Procedures upon such terms and conditions as approved by the Board, and shall become transferable by Participants when and as it vests. Participants shall have the right to
receive any cash dividends issued with respect to Restricted Shares at the same time as other shareowners of the Company. Stock dividends issued with respect to Restricted Shares shall be treated as additional Restricted Shares and shall be subject
to the same restrictions and other terms and conditions that apply to the Restricted Shares with respect to which such dividends are issued. 
 (ii) The Required Deferred Stock Amount for a particular Plan Year and the portion, if any, of the Elective Amount for that Plan Year that a Participant elects to have provided in Deferred Stock, shall be
provided to the Participant by crediting as of the applicable Crediting Date, to a Stock Unit Account maintained by the Company pursuant to Section 7, a number of stock units representing hypothetical shares of Common Stock having a Value, as
of the applicable Crediting Date, equal to the Required Deferred Stock Amount to which the Participant is entitled and the portion, if any, that the Participant has elected to have provided in Deferred Stock. Such Deferred Stock shall vest as set
forth in Section 6(c)(iv). 
 (iii) The Deferred Stock and any Restricted Shares to be provided to a
Participant for a particular Plan Year shall be determined, the appropriate amount of Deferred Stock shall be credited, and, if applicable, the appropriate amount of Restricted Shares shall be issued, as of the first day of that Plan Year, based
upon the Annual Retainer Amounts as in effect on that day. In the case of an individual whose Initial Participation Date is not the first day of a Plan Year, the Deferred Stock and any Restricted Shares to be provided to a Participant for the Plan
Year that includes the Initial Participation Date shall be determined, the appropriate amount of Deferred Stock shall be credited, and, if applicable, the appropriate amount of Restricted Shares shall be issued, as of the last day of the Month that
includes the Initial Participation Date, based upon the Annual Retainer Amounts as in effect on the Initial Participation Date. If the Annual Retainer Amount of a Participant increases during a Plan Year, an additional amount of Deferred Stock and,
if applicable, Restricted Shares shall be determined, the appropriate amount of Deferred Stock shall be credited, and, if applicable, the appropriate amount of Restricted Shares shall be issued, as of the last day of the Month in which such increase
takes effect. Each date on which Deferred Stock is to be credited or Restricted Shares are to be issued is referred to as a “Crediting Date.” If the Annual Retainer Amount of a Participant decreases during a Plan Year, a number of whole
shares of the Deferred Stock and, if applicable, Restricted Shares previously issued or credited to that Participant during that Plan Year shall be forfeited, to reflect as nearly as possible the resulting decrease in the aggregate Retainer to which
the Participant will in fact be entitled for that Plan Year. 
 (iv) The Deferred Stock and any Restricted
Shares provided to a Participant as of the first day of a particular Plan Year shall vest in substantially equal monthly installments on the last day of each Month during the Plan Year for which they were granted, pro-rata based upon the percentage
of the Plan Year that is attributable to such Month, and any Deferred Stock and Restricted Shares provided to a Participant as of any other Crediting 

  
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Date shall vest in substantially equal monthly installments on the last day of each Month during the portion of the Plan Year that follows such Crediting Date, pro-rata based upon the percentage
of such portion of the Plan Year that is included in such Month; but in each case only if the Participant remains a Director on the last day of such Month; provided, that if a Participant’s Termination Date occurs other than on the last
day of a Month, the Participant shall forfeit any Restricted Shares or Deferred Stock that is attributable to periods following the last day of the preceding Month; and provided, further, that the number of shares with respect to which
Restricted Shares and/or Deferred Stock vests on a particular day shall be rounded to the nearest whole number of shares, if necessary to avoid vesting with respect to a fractional share. 

7. (a) DEFERRAL ACCOUNTS. The Company shall maintain a “Stock Unit Account” for each Participant with respect to that
Participant’s Deferred Stock and, for a Participant who makes a Periodic Election to receive Deferred Cash, a “Cash Account,” and shall make credits to these Deferral Accounts as provided in Section 6 and this Section 7.
Whenever a dividend is paid or other distribution made with respect to the Common Stock, each Stock Unit Account shall be credited with a number of shares of Common Stock having a Value, as of the date such dividend is paid or such distribution is
made, equal to (i) the number of stock units in such Stock Unit Account as of the record date for such dividend or distribution multiplied by (ii) the Dividend Equivalent for such dividend or other distribution. The shares so credited with
respect to Deferred Stock that has not vested as of the record date for the dividend or distribution shall vest as and when such Deferred Stock vests. Each Cash Account shall accrue interest on the balance therein at the Interest Rate, to be
credited and compounded monthly. 
 (b) DELIVERY OF ACCOUNT BALANCES. (i) Each Participant shall be
provided the opportunity to elect, in accordance with the Procedures, the manner in which his or her Deferral Account balances will be distributed on or after his or her Termination Date (each such election, a “Delivery Election”). The
Procedures shall also specify (A) whether, and to what extent, different Delivery Elections may be made with respect to amounts of cash credited to a Cash Account and stock units credited to a Stock Unit Account, and with respect to amounts
credited pursuant to different Periodic Elections, (B) the choices for the form and time of delivery offered to Participants (such as single sum or installment delivery and the timing of the Participant’s Delivery Starting Date), and
(C) the form and time of delivery if a Participant does not make a valid Delivery Election with respect to any portion of his or her Cash Account or Stock Unit Account. 

(ii) The stock units in a Participant’s Stock Unit Account and/or the cash in a Participant’s Cash Account, as
applicable, shall be delivered on or beginning on the Delivery Starting Date in accordance with the Participant’s applicable Delivery Elections. In the case of deliveries from a Cash Account, such delivery shall be made in the form of cash. In
the case of deliveries from a Stock Unit Account, such delivery shall be made in the form of stock representing a number of shares of Common Stock equal to the number of stock units as and when they are to be delivered; provided, that if the
number of shares to be delivered on any 

  
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particular date included a fractional share, such number of shares shall be rounded down to the nearest whole number, and if such delivery is the last delivery from a Stock Unit Account to be
made to the Participant, the Company shall pay the Participant cash in an amount equal to the Value of such fractional share on the date of delivery. If any such stock units or cash are to be delivered after the Participant has become legally
incompetent, they shall be delivered to the Participant’s legal guardian in accordance with the foregoing. 

(iii) Participants shall be provided with the opportunity to designate, in accordance with the Procedures, the person or
persons (“Beneficiaries”) who will receive distributions of his or her interests in the Plan upon the death of the Participant (a “Beneficiary Designation”). The Procedures shall specify whether, how, and subject to what
conditions a Beneficiary Designation or Delivery Election may be superseded or revoked. The Procedures also shall specify the form and timing of payment in the event of the death of a Participant prior to the completion of all distributions of the
Participant’s interest in the Plan. If a Participant does not have a valid Beneficiary Designation in effect as of the date of his or her death, his or her Beneficiary shall be his or her estate. 

8. DELIVERY OF SHARES; VOTING AND OTHER RIGHTS. The shares delivered to a Participant pursuant to Section 6 or 7 above shall be
issued in the name of the Participant, or the Participant’s Beneficiary, as the case may be, and the Participant, or the Participant’s Beneficiary, as the case may be, shall be entitled to all rights of a shareowner with respect to Common
Stock for all such shares issued in his or her name, including the right to vote the shares, and the Participant shall receive all dividends and other distributions paid or made with respect thereto from and after the date of such issuance, except
as specifically provided in Section 6(c)(i). 
 9. GENERAL RESTRICTIONS. (a) Notwithstanding any other provision
of the Plan or agreements or certificates created pursuant thereto, the Company shall not be required to issue or deliver any shares of Common Stock under the Plan prior to fulfillment of all of the following conditions: 

(i) Listing or approval for listing upon official notice of issuance of such shares on the New York Stock Exchange, or
such other securities exchange as may at the time be a market for the Common Stock; 
 (ii) Any registration or
other qualification of such shares under any state or Federal law or regulation, or the maintaining in effect of any such registration or other qualification which the Committee shall, in its absolute discretion upon the advice of counsel, deem
necessary or advisable; and 
 (iii) Obtaining any other consent, approval, or permit from any state or federal
governmental agency which the Committee shall, in its absolute discretion after receiving the advice of counsel, determine to be necessary or advisable provided, however, that notwithstanding the foregoing, the payment in the form of issuance or
delivery of shares of 

  
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Common Stock shall not be delayed unless the Committee reasonably anticipates that the issuance or delivery of the shares of Common Stock will violate Federal securities or other applicable law,
and provided further that in the event the issuance or delivery of shares of Common Stock is delayed hereunder, such issuance or delivery will thereafter be made at the earliest date at which the Committee reasonably anticipates that the issuance or
delivery will not cause such violation. 
 (b) Nothing contained in the Plan shall prevent the Company from
adopting other or additional compensation arrangements for the Participants. 
 (c) Except as specifically
provided in the Plan with respect to Beneficiary Designations, no Participant or Beneficiary shall have the right to assign, pledge or otherwise dispose of his or her interest in any Deferral Account, nor shall the interest of a Participant or
Beneficiary therein be subject to garnishment, attachment, transfer by operation of law, or any legal process. 

(d) The Plan is intended to constitute an unfunded plan for incentive and deferred compensation of Directors, and
the rights of Directors with respect to Deferral Accounts under the Plan shall be those of general creditors of the Company. The Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to
deliver Common Stock or make payments, so long as the existence of such trusts or other arrangements and any transfer of amounts thereto is consistent with the unfunded status of the Plan and does not result in taxation under Section 409A.

 10. NUMBER AND SOURCE OF SHARES AVAILABLE. All Deferred Stock and Restricted Shares provided for under the Plan
shall automatically be granted under the Long-Term Incentive Plan, and shall reduce the number of shares available for awards under the Long-Term Incentive Plan. Sections 5.1, 5.3, and 5.4 of the Long-Term Incentive Plan shall apply with respect to
awards made under the Plan. 
 11. CHANGE IN CAPITAL STRUCTURE. (a) In the event that there is, at any time
after the Board adopts the Plan, any change in the Common Stock by reason of any stock dividend, stock split, combination of shares, exchange of shares, warrants or rights offering to purchase Common Stock at a price below its fair market value,
reclassification, recapitalization, merger, consolidation, spin-off or other change in capitalization of the Company, appropriate adjustment shall be made in the number and kind of shares or other property held in the Stock Unit Accounts (taking
into account whether any Dividend Equivalent is credited to the Stock Unit Accounts in connection therewith), and any other relevant provisions of the Plan by the Committee, whose determination shall be binding and conclusive on all persons. Options
and Restricted Shares granted pursuant to the Plan and the Long-Term Incentive Plan shall be subject to adjustment pursuant to Section 5 of the Long-Term Incentive Plan. 

  
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 (b) If the shares of Common Stock credited to the Stock Unit Accounts
are converted pursuant to this Section 11 into cash or another form of property, references in the Plan to the Common Stock shall be deemed, where appropriate, to refer to such cash or other form of property, with such other modifications as
may be required for the Plan to operate in accordance with its purposes. Without limiting the generality of the foregoing, references to delivery of certificates for shares of Common Stock shall be deemed to refer to delivery of cash and the
incidents of ownership of any other property held in the Stock Unit Accounts. 
 12. PROCEDURES; ADMINISTRATION 

(a) The Committee shall adopt and from time-to-time amend Procedures relating to Periodic Elections, Delivery Elections
and other compensation payable hereunder that is subject to Section 409A, and shall take all actions necessary to ensure that the documentation and administration of the Plan complies with the requirements of Section 409A with respect to
all compensation payable under the Plan that is subject to Section 409A; it being understood that the Committee may delegate (including, without limitation, to one or more employees of the Company and its Subsidiaries) its responsibility for
the documentation and administration of the Plan (other than amendments to the Plan or the Procedures). The Procedures, together with this document, shall constitute the plan document for the Plan. 

(b) The Committee shall have full authority to construe and interpret the Plan, and to take all actions and make such
determinations in connection with the Plan as it may deem necessary or desirable. 
 13. AMENDMENT. The Board may from time to
time make such amendments to the Plan as it may deem proper and in the best interest of the Company, and it may terminate the Plan at any time. However, no such amendment or termination shall result in the payment of any compensation under the Plan
that is subject to Section 409A at a time or times, or under circumstances, not permitted by Section 409A. Without limiting the generality of the foregoing, under no circumstances may any amendment or termination of the Plan result in the
acceleration of the payment of compensation payable under the Plan that is subject to Section 409A, except as may be permitted by Section 409A. 
 14. MISCELLANEOUS. (a) Nothing in the Plan shall be deemed to create any obligation on the part of the Board to nominate any Director for reelection by the Company’s shareowners or to limit
the rights of the shareowners to remove any Director. 
 (b) The Company shall have the right to require,
prior to the issuance or delivery of any cash or shares of Common Stock pursuant to the Plan, that a Director make arrangements satisfactory to the Committee for the withholding of any taxes required by law to be withheld with respect to the
issuance or delivery of such cash or shares, including without limitation by the withholding of shares that would otherwise be so issued or delivered, by withholding from any other payment due to the Director, or by a cash payment to the Company by
the Director. In the event a Director fails to make satisfactory arrangements for the withholding of such taxes, the Company shall withhold from the cash or shares that would otherwise be so issued or delivered. 

15. GOVERNING LAW. The Plan and all actions taken thereunder shall be governed by and construed in accordance with the laws of the
State of Delaware. 

  
 10Restricted Stock Unit Award Agreement

 Exhibit 10.1 
 SUSQUEHANNA BANCSHARES, INC. 
 RESTRICTED STOCK UNIT GRANT AGREEMENT

 This RESTRICTED STOCK UNIT GRANT AGREEMENT (this “Agreement”), dated as of [•] (the “Date of
Grant”), is delivered by Susquehanna Bancshares, Inc. (the “Company”) to [•] (the “Grantee”). 

RECITALS 

WHEREAS, Susquehanna Bancshares, Inc. (the “Company”) maintains the Susquehanna Bancshares, Inc. Amended and Restated
2005 Equity Compensation Plan (the “Plan”); 
 WHEREAS, the Plan provides for this grant of Restricted Stock
Units (as defined below) in accordance with the terms and conditions of the Plan; 
 WHEREAS, the Compensation Committee
of the Board of Directors of the Company (the “Committee”) has determined to award the Grantee Restricted Stock Units, on the terms and conditions set forth in this Agreement; and 

WHEREAS, all capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or in the Plan.

 NOW, THEREFORE, it is hereby agreed as follows: 

1. Grant of Restricted Stock Units. The Company hereby awards to the Grantee, as of the Date of Grant, Restricted Stock
Units representing [•] shares of Company’s common stock (the “Company Stock”) (this “Grant”) pursuant to the Plan. Each Restricted Stock Unit represents the right to receive one share of Company Stock on
the date determined in accordance with this Agreement and the Plan; provided, however, that in the event of any conflict between the terms of this Agreement and the Plan with respect to the vesting and payment terms applicable to this Grant, the
terms of this Agreement shall govern in all cases notwithstanding any contrary provision in the Plan. The Grantee hereby acknowledges the receipt of a copy of the official prospectus for the Plan. Copies of the Plan and the official Plan prospectus
are available on the Company’s intranet site at http://webone/FormsAndProcedures/HumanResources/Human Resources Forms and Procedures or by contacting the Company’s Human Resources Department at 717-625-6716. 

2. Vesting. 
 (a) The Restricted Stock Units shall vest one third (1/3rd) on each of December 31, 2012, December 31, 2013 and December 31, 2014 (each a “Vesting Date”); provided that
(i) the Grantee continues to be employed by, or provide service to, the Company through the Vesting Date, and (ii) the Company Profit Trigger (as defined below) is achieved. 

  
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 (b) For purposes of this Agreement, except as set forth in Section 2(d) below, the
Restricted Stock Units shall only vest on the Vesting Date if the Company generates enough net income (determined in accordance with GAAP) to cover normal quarterly dividends of the Company (excluding any special dividends) as determined by the
Committee in its sole discretion for the calendar year in which the Vesting Date occurs (the “Company Profit Trigger”). For purposes of this Agreement, the normal quarterly dividend rate for the applicable calendar year is equal to four
times the dividend rate for the highest quarter of the calendar year in which the Vesting Date occurs, excluding any special dividends in all instances. For purposes of this Agreement, if the Company Profit Trigger is not achieved for the applicable
Vesting Date, the portion of the Restricted Stock Units subject to vesting on the Vesting Date shall be cancelled and the Grantee shall cease to have any right or entitlement to receive any shares of Common Stock under this Grant with respect to the
cancelled Restricted Stock Units. 
 (c) Notwithstanding Section 2(a) above, if the Grantee ceases to be employed by, or
provide service to, the Company on account of the Grantee’s Early or Normal Retirement (as defined by the Susquehanna Bancshares, Inc. Cash Balance Pension Plan) prior the Restricted Stock Units becoming fully vested, the Restricted Stock Units
that have not yet vested (other than any Restricted Stock Units that did not vest and were cancelled because the Company Profit Trigger was not achieved) shall continue to vest on each applicable Vesting Date following the Grantee’s Early or
Normal Retirement (notwithstanding that the Grantee is no longer employed by, or providing service to, the Company; provided that the Company Profit Trigger is achieved for the Vesting Date in accordance with Section 2(b) above). 

(d) Notwithstanding Sections 2(a) and (c) above, if (i) the Grantee dies; (ii) incurs a Disability (as defined in the
Plan); (iii) a Change of Control (as defined in the Plan) occurs, in each case, while the Grantee is employed by, or providing service to, the Company, and prior to the Grantee becoming fully vested in the Restricted Stock Units subject to this
Grant (other than any Restricted Stock Units that did not vest and were cancelled because the Company Profit Trigger was not achieved), the vesting of the Restricted Stock Units shall accelerate and the Restricted Stock Units shall vest in full on
the first to occur of the foregoing events, without regard to whether the Company Profit Trigger has been achieved. 
 (e)
Except as provided in Sections 2(a), (c) and (d) above, if the Grantee ceases to be employed by, or provide service to, the Company for any reason prior to vesting in the Restricted Stock Units subject to this Grant, then this Grant shall
be immediately cancelled with respect to any Restricted Stock Units that are unvested as of the Grantee’s termination date and the Grantee shall cease to have any right or entitlement to receive any shares with respect to the cancelled
Restricted Stock Units. If the Grantee ceases to be employed by, or provide service to, the Company on account of a termination by the Company for Cause (as defined in the Plan), then this Grant shall be immediately cancelled with respect to all the
Restricted Stock Units subject to such Grant, whether vested or unvested, and the Grantee shall cease to have any right or entitlement to receive any shares under this Grant with respect to the cancelled Restricted Stock Units. 

3. Share Issuance. Subject to satisfaction of the Grantee’s Withholding Taxes (as defined below), the Company shall
issue shares of Company Stock to the Grantee with respect to vested Restricted Stock Units within thirty (30) days following the applicable Vesting Date set forth in Section 2. 

  
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 4. Limited Transferability. Prior to actual receipt of the shares with respect
to the Restricted Stock Units which vest and become issuable hereunder, the Grantee may not transfer any interest in this Grant or the underlying shares. Any Restricted Stock Units which vest hereunder but which otherwise remain unissued at the time
of the Grantee’s death may be transferred pursuant to the provisions of the Grantee’s will or the laws of inheritance or to the Grantee’s designated beneficiary or beneficiaries of this Grant. 

5. Lock-Up Period. The Grantee shall not sell or otherwise transfer any shares the Grantee receives with respect to the
Restricted Stock Units which vest and become issuable hereunder for a period of one year following the date the Grantee is issued shares of Company Stock pursuant to Section 3. 

6. Shareholder Rights and Dividend Equivalents. 
 (a) The holder of this Grant shall not have any shareholder rights, including voting or dividend rights, with respect to the shares subject to this Grant until the Grantee becomes the record holder of
those shares upon their actual issuance following the Company’s collection of the applicable Withholding Taxes. 
 (b)
Notwithstanding the foregoing, if any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Company Stock), is declared and paid on the outstanding Company
Stock prior to the issuance of shares with respect to the Restricted Stock Units subject to this Grant (i.e., those shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book
account shall be established for the Grantee and credited with a phantom dividend equal to the actual dividend or distribution which would have been paid on the Restricted Stock Units subject to this Grant had shares been issued with respect to such
Restricted Stock Units and been outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at the same time as the Restricted Stock Units to which they relate and shall be distributed to the
Grantee (in the same form the actual dividend or distribution was paid to the holders of the Company Stock entitled to that dividend or distribution or in such other form as the Committee deems appropriate) concurrently with the issuance of shares
with respect to such Restricted Stock Units pursuant to Section 3. 
 7. Grant Subject to Plan Provisions.
This Grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. This Grant is subject to interpretations, regulations and determinations
concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) the registration, qualification or listing of the shares,
(b) changes in capitalization of the Company and (c) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Grant pursuant to the terms of the Plan, and its decisions shall be conclusive
as to any questions arising hereunder. 
 8. Collection of Withholding Taxes. 

(a) The Company shall collect the employee portion of the FICA taxes (Social Security and Medicare) with respect to the Restricted Stock
Units at the time those 

  
 3 

 
Restricted Stock Units vest hereunder. The FICA taxes shall be based on the Fair Market Value of the shares underlying the Restricted Stock Units on the Vesting Date. The Company shall also
collect the employee portion of the FICA taxes with respect to any phantom dividends at the time those phantom dividends vest hereunder. The FICA taxes shall be based on the cash amount and the fair market value of any other property underlying the
phantom dividends on the Vesting Date. Unless the Grantee delivers a separate check payable to the Company in the amount of the FICA taxes required to be withheld from the Grantee, the Company shall withhold those taxes from the Grantee’s
wages. However, if the Grantee is at the time an executive officer of the Company, then such FICA taxes must be collected from the Grantee through delivery of his or her separate check not later than the Vesting Date. 

(b) The Company shall collect the federal, state and local income taxes required to be withheld with respect to the distribution of the
phantom dividend equivalents to the Grantee by withholding a portion of that distribution equal to the amount of those taxes, with the cash portion of the distribution to be the first portion so withheld. Until such time as the Company provides the
Grantee with notice to the contrary, the Company shall collect the federal, state and local income taxes required to be withheld with respect to the issuance of the shares underlying the Restricted Stock Units that vest hereunder through an
automatic share withholding procedure pursuant to which the Company shall withhold, at the time of such issuance, a portion of the shares with a Fair Market Value (measured as of the issuance date) equal to the amount of those taxes (the “Share
Withholding Method”); provided, however, that the amount of any shares so withheld shall not exceed the amount necessary to satisfy the Company’s required tax withholding obligations using the minimum statutory
withholding rates for federal and state tax purposes that are applicable to supplemental taxable income. The Grantee shall be notified in writing in the event such Share Withholding Method is no longer available. 

(c) If any shares are distributed at a time the Share Withholding Method is not available, then the federal, state and local income
taxes required to be withheld with respect to those shares shall be collected from the Grantee through either of the following alternatives: 
 (i) the Grantee’s delivery of his or her separate check payable to the Company in the amount of such Withholding Taxes, or 

(ii) the use of the proceeds from a next-day sale of the shares issued to the Grantee, provided and only if (i) such
a sale is permissible under the Company’s trading policies governing the sale of Company Stock, (ii) the Grantee makes an irrevocable commitment, on or before the Vesting Date for those shares, to effect such sale of the shares and
(iii) the transaction is not otherwise deemed to involve a prohibited loan under Section 402 of the Sarbanes-Oxley Act of 2002. 
 (d) If any other amounts become distributable to the Grantee in consideration for the shares underlying the Restricted Stock Units, then the federal, state and local income taxes required to be withheld
with respect to those amounts shall be collected from the Grantee pursuant to such procedures as the Company deems appropriate under the circumstances, including (without limitation) the Grantee’s delivery of his or her separate check payable
to the Company in the amount of such Withholding Taxes. For purposes of this 

  
 4 

 
Agreement “Withholding Taxes” shall mean (i) the employee portion of the federal, state and local employment taxes required to be withheld by the Company in connection with the
vesting of the shares of Company Stock under this Grant and any phantom dividend equivalents relating to those shares and (ii) the federal, state and local income taxes required to be withheld by the Company in connection with the issuance of
those vested shares and the distribution of any phantom dividend equivalents relating to such shares. 
 (e) Except as
otherwise provided in Section 6(b), the settlement of all Restricted Stock Units which vest under this Grant shall be made solely in shares of Company Stock. In no event, however, shall any fractional shares be issued. Accordingly, the total
number of shares of Company Stock to be issued pursuant to this Grant shall, to the extent necessary, be rounded down to the next whole share in order to avoid the issuance of a fractional share. 

9. Compliance with Laws and Regulations. The issuance of shares of Company Stock pursuant to this Grant shall be subject to
compliance by the Company and the Grantee with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange on which the Company Stock may be listed for trading at the time of such issuance.

 10. Section 409A of the Code. 
 (a) This Agreement, including the right to receive Company Stock pursuant to Section 3, is intended to be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”) pursuant to the short-term deferral exemption thereunder, and this Agreement, including the right to receive Company Stock, shall be interpreted on a basis consistent with such intent. 

(b) Notwithstanding anything in this Agreement or the Plan to the contrary, distributions may only be made upon an event and in a manner
permitted by Section 409A of the Code. If a payment is not made by the designated payment date under this Agreement, the payment shall be made by December 31 of the calendar year in which the designated date occurs. For purposes of
Section 409A of the Code, all payments to be made upon the Grantee ceasing to be employed by, or providing service to, the Company may only be made upon the Grantee’s “separation from service” (within the meaning of such term
under Section 409A of the Code). Notwithstanding any provision in this Agreement to the contrary, if the Grantee is a “specified employee” (as defined in Section 409A of the Code) and it is necessary to postpone the commencement
of any payments otherwise payable under this Agreement to prevent any accelerated or additional tax under Section 409A of the Code, then the Company shall postpone the payment until ten (10) days after the end of the six-month period
following the original payment date. If the Grantee dies during the postponement period prior to the payment of postponed amount, the amounts withheld on account of Section 409A of the Code shall be paid to the personal representative of the
Grantee’s estate within sixty (60) days after the date of the Grantee’s death. The determination of who is a specified employee, including the number and identity of persons considered specified employees and the identification date,
shall be made by such Board or its delegate in accordance with the provisions of Sections 416(i) and 409A of the Code. To the extent that any provision of the Plan would cause a conflict with the requirements of Section 409A of the Code, or
would cause the administration of the Plan to fail to satisfy the 

  
 5 

 
requirements of Section 409A of the Code, such provision shall be deemed null and void to the extent permitted by applicable law. In no event shall the Grantee, directly or indirectly,
designate the calendar year of payment. This Agreement may be amended without the consent of the Grantee in any respect deemed by the Board to be necessary in order to preserve compliance with Section 409A of the Code. 

11. Recoupment Policy. The Grantee agrees that the Grantee shall be subject to any compensation, clawback and recoupment
policies that may be applicable to the Grantee as an employee of the Company, as in effect from time to time and as approved by the Board of Directors or a duly authorized committee thereof, whether or not approved before or after the Date of Grant.

 12. Notices. Any notice required to be given or delivered to the Company under the terms of this Agreement
shall be in writing and addressed to the Company at its principal corporate offices. Any notice required to be given or delivered to the Grantee shall be in writing and addressed to the Grantee at the address indicated below the Grantee’s
signature line on this Agreement. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified. 

13. Successors and Assigns. Except to the extent otherwise provided in this Agreement, the provisions of this
Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and the Grantee, the Grantee’s assigns, the legal representatives, heirs and legatees of the Grantee’s estate and any beneficiaries of
this Grant designated by the Grantee. 
 14. Construction. This Agreement and this Grant evidenced hereby are made
and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. All decisions of the Committee with respect to any question or issue arising under the Plan or this Agreement shall be conclusive and binding
on all persons having an interest in the Grant. 
 15. Governing Law. The interpretation, performance and
enforcement of this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania without resort to conflict-of-laws rules. 
 16. Employment At Will. Nothing in this Agreement or in the Plan shall confer upon the Grantee any right to continue to be employed by, or provide service to, the Company for any period of
specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any parent or subsidiary employing or retaining the Grantee) or of the Grantee, which rights are hereby expressly reserved by each, to terminate the
Grantee’s employment or service with the Company at any time for any reason, with or without Cause. 
 [SIGNATURE PAGE
FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year
first indicated above. 
  

			
	SUSQUEHANNA BANCSHARES, INC.
		
	By:	 	  

		
	Title:	 	  

	
	GRANTEE
		
	Signature:	 	  

		
	Address:	 	  

		
		 	  

  
 7

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