Document:

EX-10.1

Exhibit 10.1

SEPARATION AGREEMENT AND GENERAL RELEASE 

     This Separation Agreement and General Release (“Release”), is between Tollgrade
Communications, Inc., its successors, assigns, affiliates, parents and subsidiaries (referred to
throughout this Release collectively as “Tollgrade” ) and Gary W. Bogatay, Jr. (referred to
throughout this Release as “Executive” and more fully defined in Paragraph 4), which parties agree
as follows:

Recitals

     WHEREAS, Executive began his employment with Tollgrade on October 18, 2008 as its Chief
Financial Officer;

     WHEREAS, on March 17, 2009, Executive and Tollgrade entered into a Change in Control Agreement
(the “CIC Agreement”) whereby Executive would be provided with certain benefits (“Termination
Benefits”) if Executive’s employment was terminated under certain circumstances;

     WHEREAS, Executive and Tollgrade have agreed that it is in both their interests to amicably
part ways and enter into this Separation Agreement and General Release;

     WHEREAS, this Release supersedes the CIC Agreement;

     WHEREAS, the parties wish to avoid any disputes between them and definitively set forth the
terms of their separation; and

     WHEREAS, Executive and Tollgrade have mutually agreed to terminate Executive’s employment with
Tollgrade effective as of September 18, 2009 (the “Termination Date”).

     IT IS THEREFORE, AGREED AS FOLLOWS:

Agreement

     1. Incorporation of Recitals. The foregoing recitals are incorporated herein by
reference and are made a part of this Release.

     2. Separation Package For Executive. In consideration for signing this Release and
compliance with the promises made herein, and after Tollgrade’s receipt of the executed Release and
the expiration of the seven (7) day revocation period, as described in Paragraph 4(a)(v) of this
Release, without Executive having revoked this Release, Executive will receive, for a period of one
year, beginning on September 1, 2009:

     a. The equivalent of his now current annual salary (less lawful deductions, if
applicable) and the continuation of his health insurance benefits (collectively the
“Separation Package”).  Specifically, Executive will receive the equivalent of a salary of
$215,000 per year until September 1, 2010 and Tollgrade will make payments to

			
	 	 	 
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maintain the
same or substantially similar health insurance benefits he now receives as an employee
(either via maintenance of his current insured status or via making COBRA payments).

     b. The exact composition of cash payments Executive is to receive as part of the
Separation Package will depend upon the availability of the payment of benefits to Executive
under Tollgrade’s short term and long term disability insurance benefits available to him
(his “Disability Benefits”).  Tollgrade will make up any short fall between the gross
Disability Benefits and his regular salary. Such payments shall be subject to all
applicable withholding requirements.

     c. Executive is required to, in good faith, make reasonable efforts to apply for, seek
and maintain his eligibility for his Disability Benefits and shall keep Tollgrade informed
as to any material
developments regarding the same. For sake of clarity, Tollgrade has no obligations
whatsoever regarding determining Executive’s eligibility for the Disability Benefits and
Executive acknowledges the same.

     d. The cash payments Executive is to receive as part of the Separation Package shall be
made periodically as provided for under the Disability Benefits and, if applicable, pursuant
to Tollgrade’s payroll dates in accordance with Tollgrade’s prevailing payroll practices.

     e. It is understood that, due to the nature and circumstances of the varying sources of
payments, periodic reconciliations may need to be conducted to ensure that the payments made
are in conformance with the above-stated provisions. In the event of an under or over
payment, each party agrees to promptly rectify such situation and remit or refund funds
to/from the other party as the case may so require. The parties, by written agreement, may
also agree to set off such funds from future required payments. Executive expressly agrees
that, in the event of an overpayment, absent a written agreement to the contrary, he shall
repay the required funds to Tollgrade within seven (7) days of written notification by
Tollgrade of such overpayment. Executive expressly acknowledges that payments made to him in
September 2009, because of the future payment of Disability Benefits during a time when
Tollgrade was also, as a courtesy, continuing to pay his salary, are likely to require
repayment to Tollgrade.

     3. Separation Package Contingent Upon Executive’s Execution Of This Agreement. The
foregoing consideration shall be contingent upon Tollgrade’s receipt of the executed Release and
the expiration of the seven (7) day revocation period, as described in Paragraph 4(a)(v) of this
Release, without Executive having revoked this Release. Executive understands and agrees that he
would not receive the Separation Package specified in Paragraph 2 above, except for his execution
of this Release and the fulfillment of the promises contained herein.

			
	 	 	 
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     4. Release Of Claims.

     a. Executive’s Release Of Claims Against Tollgrade.

     i. Executive, intending to be legally bound, knowingly and voluntarily releases
and forever discharges Tollgrade Communications, Inc. and each of its past and
present successors, parents and related corporations, assigns, subsidiaries,
affiliates, and divisions and each of their past and present employees, officers and
directors, (all such entities and persons being referred to collectively in this
Release as the “Tollgrade Released Parties”) of and from any and all claims, whether
known or unknown, which he or his heirs, executors, administrators, successors, and
assigns (referred to collectively throughout this Release as “Executive”), have or
may have against the Tollgrade Released Parties at any time up to the date and time
of his execution of this Release, including, but not limited to, any alleged claims
under his CIC Agreement, any alleged violation of any federal, state or local
anti-discrimination law, any alleged violation of Sarbanes-Oxley Act, Title VII of
the Civil Rights Act of 1964, The Americans with Disabilities Act of 1990, The Civil
Rights Act of 1991, Sections 1981 through 1988 of Title 42 of the United States
Code, the Family Medical Leave Act, and The Pennsylvania Human Relations Act, all as
amended; any other federal, state or local civil or human rights law; any other
local, state or federal law, statute, regulation or ordinance; any claim based on
public policy, contract (written or oral), tort or common law; any claim for
punitive, compensatory, and liquidated damages; and any claim for costs, fees, and
other expenses, including attorneys’ fees. This general release also includes, but
is not limited to, claims arising under the Age Discrimination in Employment Act
(“ADEA”). Executive understands that, by signing this Release, he is waiving all
claims that he ever had or now has against the Tollgrade Released Parties that arose
or may have arisen before he signs this Release.

     ii. Executive acknowledges that he has been told to consult with an attorney of
his choosing prior to executing this Release and that he has done so. Without
detracting in any respect from any other provision of this Release: (i) Executive
agrees and acknowledges that this Release constitutes a knowing and voluntary waiver
of all rights and claims he has or may have against the Tollgrade Released Parties,
as set forth in Paragraph 4(a)(i) above and that he has no physical or mental
impairment of any kind that has interfered with his ability to read and understand
the meaning of this Release or its terms; and (ii) Executive agrees and acknowledges
that the consideration provided to him under this Release is in addition to anything
of value to which he is already entitled.

     iii. Executive waives his right to file any charge or complaint arising out of
his employment with or separation from Tollgrade on his own behalf against the
Tollgrade Released Parties before any federal, state or local court or any state or

			
	 	 	 
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local administrative agency, except whereas such waivers are prohibited by law.
This Release, however, does not prevent Executive from filing a charge with the
Equal Employment Opportunity Commission concerning claims of discrimination,
although Executive waives his right to recover any damages or other relief in any
claim or suit brought by or through the Equal Employment Opportunity Commission or
any other state or local agency on behalf of Executive under the Age Discrimination
in Employment Act, Title VII of the Civil Rights Act of 1964 as amended, the
Americans with Disabilities Act, or any other federal or state discrimination law,
except where prohibited by law. Executive confirms that no claim, charge, complaint
or action exists in any forum or form.

     iv. Executive understands that if this Agreement and General Release were not
signed, Executive would have the right to voluntarily assist other individuals or
entities in bringing claims against the Tollgrade Released Parties. Executive
hereby waives that right and he will not provide any such assistance other than
assistance in an investigation or proceeding conducted by a
governmental agency. Tollgrade and Executive further agree that Executive may
provide information pursuant to any valid subpoena.

     v. Executive acknowledges that he has been informed that he has, at his option,
twenty-one (21) days in which to sign this Release and that he may knowingly and
voluntarily waive said twenty-one (21) day period at any time before the end of said
twenty-one (21) day period by signing the Release, in which event the Revocation
Period (defined in the following sentence) shall commence on the date he executes
the Release. Executive acknowledges that he has seven (7) days following the date on
which he executes the Release within which to revoke it (the “Revocation Period”).
Any revocation within this period must be submitted, in writing, to:

Joseph O’Brien, V.P. Human Resources

Tollgrade Communications, Inc.

493 Nixon Road

Cheswick, PA 15024

and state, “I hereby revoke my acceptance of our Separation Agreement and General
Release.” The revocation must be personally delivered to Joseph O’Brien, or his
designee, or mailed to Joseph O’Brien at the above address, and postmarked within
seven (7) days of execution of this Release. This Release shall not become
effective or enforceable until the Revocation Period has expired. If the last day
of the Revocation Period is a Saturday, Sunday, or legal holiday in Pennsylvania,
then the Revocation Period shall not expire until the next following day which is
not a Saturday, Sunday, or legal holiday. Tollgrade may revoke the Release at any
time during the Revocation Period. Executive will not be eligible to receive the
Separation Package under this Release and the same shall not

			
	 	 	 
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become effective or
legally enforceable, until the Revocation Period has expired with Executive electing
not to revoke the Release.

     vi. Executive understands that, by entering into this Release, he will be
limiting the availability of certain remedies that he may have against the Tollgrade
Released Parties and limiting also his ability to pursue certain claims against the
Tollgrade Released Parties.

     vii. It is further understood and agreed that Executive acknowledges and agrees
that his employment with Tollgrade and all of its affiliates or related institutions
has irrevocably ended and he agrees that at no time in the future shall he seek
employment from Tollgrade or any of its affiliated or related institutions,
successors or assigns.

     b. The Tollgrade Released Parties’ Release Of Claims Against
Executive.

     i. The Tollgrade Released Parties, intending to be legally bound, knowingly and
voluntarily releases and forever discharges Executive of and from any and all
claims, whether known or unknown, which the Tollgrade Released Parties have or may
have against the Executive at any time up to the date and time of his execution of
this Release.

     5. Confidentiality. Executive agrees not to disclose any information regarding the
existence or substance of this Release, except to an attorney with whom Executive chooses to
consult regarding his consideration of this Release, unless he is required to do so under
compulsion of law or process of law; provided he has given Tollgrade reasonable prior written
notice thereof. Executive further agrees that he will not make any disparaging statements about
Tollgrade to any current or former employees of Tollgrade, its clients, contractors, vendors, or to
the media or to any other person. A disparaging statement is any communication, oral or written,
which would cause or tend to cause humiliation or embarrassment or to cause a recipient to question
the business condition, integrity, product and service, quality, confidence or good character of
Tollgrade or its officers, directors or employees. The parties further agree that these
confidentiality and non-disparagement provisions are essential to the Release, and that any breach
of either of these provisions by Executive constitutes a material breach of this Release by
Executive.

     6. Tollgrade Statements Regarding Executive. Tollgrade shall make a statement
regarding Executive’s separation from the company to the effect that both parties mutually agreed
that it was in their best interests to part ways and that the details and background of such
agreement are confidential. Unless compelled to do so pursuant to applicable law, Tollgrade will
limit responses to inquiries regarding Executive’s employment at the company to confirming his
dates of employment and stating that further information is subject to confidentiality requirements
of this Release.

     7. Tollgrade’s Rights To Reclaim In Event Of Executive Breach. In the event Executive
voluntarily participates, or receives any benefits, in any proceeding, or if he fails to

			
	 	 	 
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abide by
any of the terms of this Release, Tollgrade may, in addition to any other remedies it has,
including the right to cease payments hereunder, reclaim any amounts paid to him hereunder without
waiving the Release granted herein, provided, that, Tollgrade shall not have the right to reclaim
amounts paid to Executive hereunder with respect to a proceeding that seeks to challenge whether
Executive knowingly and voluntarily waived his rights under the ADEA.

     8. Return of Company Property. Executive agrees to return all cell phones, Tollgrade
files, documents, software, access keys, desk keys, ID badges and credit cards, and such other
property of Tollgrade, (collectively “Tollgrade Property”) as Tollgrade may reasonably request,
that is in Executive’s possession. The Tollgrade Property must be returned as soon as practicable
but in no event later than September 21, 2009.

     9. Executive’s Continuing Obligation To Keep Tollgrade Information Confidential.
Executive covenants, affirms and agrees that, from and after the date he executes this Release, he
will not disclose any Proprietary and Confidential Information (as defined below), will not make
use of the Proprietary and Confidential Information on his own behalf or on behalf of any third
party, unless he is required to do so under compulsion of law or process of law; provided he has
given Tollgrade reasonable prior written notice thereof.

          The term “Proprietary and Confidential Information” as used in this Release shall be defined
as information or data in any form or medium, tangible or intangible, that Tollgrade possesses,
uses or to which Tollgrade has rights, and includes information relating to Tollgrade’s business,
employees, or the business of any of its related entities, corporations, partnerships, joint
ventures, investors, employees, directors or customers. Executive acknowledges and agrees that
Proprietary and Confidential Information also includes information developed by him in the course
of his employment with Tollgrade, as well as other information to which he had access to (either
with or without the consent of Tollgrade) in connection with his employment with Tollgrade.
Proprietary and Confidential Information includes, by way of example, and without limitation,
processes and procedures relating to Tollgrade’s techniques and business, products, improvements,
formulas, inventions, flow charts, designs, drawings, plans, processes, procedure manuals,
development, plans for future expansion or development, profits, reports, markets, sales, sales
volume, methods, financial information, proposals, trade secrets, disbursements, costs, training
programs, production volume, customers and prospective customers and lists of customers and
prospective customers, identity of key personnel or other decision-makers in the employ of
customers and prospective customers; information concerning amount or kind of investments by
customers, knowledge of customers’ requirements, business dates regarding customers and suppliers,
Proprietary and Confidential Information of customers; information concerning marketing strategies
and plans, pricing information; information concerning Tollgrade’s computer programs, computer
processing systems and techniques, computer software, system documentation, special hardware,
business models, manuals, formulations, equipment, compositions, configurations, know-how, ideas,
improvements, inventions; any and all inventions and developments and Tollgrade-related inventions
and developments; all records, files, memoranda, reports, and documents concerning or relating to
its employees and/or its business; anything pertaining to various trade secrets as defined by law;
and/or any information which, if disclosed, could adversely affect Tollgrade’s business.

			
	 	 	 
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     Accordingly, Executive agrees that if he breaches or threatens to breach any portion of
Paragraph 9 in the Release, Tollgrade shall be entitled, in addition to all other remedies that it
may have: (i) to an injunction or other appropriate equitable relief to restrain any such breach
without showing or proving any actual damage to Tollgrade; and (ii) to be relieved of any
obligation to provide any further payment of Executive’s Separation Package.

     10. Non-competition and Non-Solicitation. Executive agrees that he will not, directly
or indirectly, without the prior written permission of Tollgrade:

     a. during the Post-Employment Period (as defined below), for any reason with or without
cause, directly or indirectly, either as an individual or on Executive’s account, or as a
partner, investor, joint venturer, shareholder, officer, director or otherwise, engage or
invest in, own, manage, operate, finance, control or participate in the ownership,
management, operation, financing or control of, be employed by, associated with, an
independent contractor for, promote, or in any manner be connected with, lend Executive’s
name or any similar name to, lend Executive’s credit to or render services or advice to, any
business whose products or activities compete in whole or in part with the products or
activities of Tollgrade within the United States; provided, however, that Executive may
purchase or otherwise acquire up to (but not more than) one percent of any class of
securities of any enterprise (but without otherwise participating in the activities of such
enterprise) if such securities are listed on any national or regional securities exchange or
have been registered under §12(g) of the Securities Exchange Act of 1934, as amended;

     b. whether for Executive’s own account or for the account of any other person, at any
time during the Post-Employment Period, solicit business, patronage or orders of the same or
similar type being carried on by Tollgrade from any existing customer of Tollgrade within
the United States or from any person who was or is a customer of Tollgrade within the United
States at any time during Executive’s employment at Tollgrade or during the Post-Employment
Period, or attempt to seek or cause any of Tollgrade’s customers and clients to refrain from
patronizing Tollgrade, whether or not Executive had personal contact with such person during
and by reason of Executive’s employment with Tollgrade;

     c. whether for Executive’s own account or the account of any other person: (A) at any
time during the Post-Employment Period, directly or indirectly, solicit, employ or otherwise
engage as an employee, independent contractor or otherwise, any person who is or was an
employee of Tollgrade at any time during the Post-Employment Period, or in any manner induce
or attempt to induce any employee of Tollgrade to terminate his employment with Tollgrade;
provided, however, that this provision shall not apply to any person whose employment by
Tollgrade is involuntarily terminated by Tollgrade; or (B) at any time during the
Post-Employment Period, interfere with Tollgrade’s relationship with any person, including
any person who at any time during Executive’s employment at Tollgrade was an employee,
contractor, supplier, or customer of Tollgrade;

     d. at any time during the Post-Employment Period, whether for Executive’s own account
or the account of any other person, directly or indirectly, solicit, take away, or

			
	 	 	 
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attempt
to solicit business, or take away any of Tollgrade’s customers, clients, suppliers or
patronage.

     For purposes of this section, the term “Post-Employment Period” means the one-year period
following September 18, 2009 (i.e. through and including September 18, 2010).

     11. Integration and Prior Agreements. This Release sets forth the entire agreement
between the parties hereto, and fully supersedes any prior agreements or understandings between the
parties, including, without limitation, the CIC Agreement, Executive acknowledges that he has not
relied on any representations, promises, or agreements of any kind made to his in connection with
his decision to sign this Release, except for those set forth in this Release.

     12. Termination of Separation Package. In the event Executive becomes employed prior
to September 1, 2010, Tollgrade’s obligation’s under paragraph 2(a) shall cease. Executive shall
have the duty to timely report any such employment to Tollgrade.

     13. IRC Section 409A. The payment of the Separation Package is intended to be
compliant with the requirements for deferral of income taxation under Code Section 409A.  Executive
hereby acknowledges and agrees that Tollgrade may sever from the Separation Package any portion
thereof that is not compliant with the requirements of Code Section 409A.

     14. Miscellaneous.

     a. All terms and statements herein are material and are part of the agreement between
the parties including, without limitation, all terms which may be defined within the
Preamble hereto.

     b. This Release may be signed/executed by the parties in counterparts, each of which
shall be deemed an original and all such counterparts together shall constitute one and the
same document without affecting the enforceability of the same.

     c. If any provision of this Release is determined to be invalid or unenforceable for
any reason, the remaining provisions and portions of this Release shall be unaffected
thereby and shall remain in full force to the fullest extent permitted by law. However, if
any portion of the general release language were ruled to be unenforceable for any reason,
Tollgrade is released from its obligations under paragraph 2 above.

     d. This Release shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania (without application of principles of conflicts of law). Each
party hereto hereby agrees that any claim or cause of action arising out of or in connection
with this Release shall have exclusive jurisdiction and venue in state court in Pittsburgh,
Pennsylvania, or the United States District Court for the Western District of Pennsylvania,
whichever is proper.

     e. If any term, covenant or condition of this Release or the application thereof to any
person or circumstances shall, to any extent, be illegal, invalid or

			
	 	 	 
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unenforceable, the
remainder of this Release or the application of such term, covenant or condition to any
person or circumstances other than that as to which it shall be invalid or unenforceable,
shall not be affected thereby, and each term, covenant and condition of this Release shall
be valid and enforced to the fullest extent permitted by law.

     f. Nothing contained in this Release will be deemed or construed as an admission of
wrongdoing or liability on the part of Tollgrade. This Release may not be modified, altered
or changed except upon express written consent of both parties wherein specific reference is
made to this Separation Agreement and General Release.

     g. Executive certifies that he has reported and has been paid for all hours worked.

     h. The titles of the various paragraphs of this Release are for convenience only and
shall not be considered in construing this Release.

     i. This Release may only be amended or modified in writing by the parties hereto or
their respective permitted successors or assigns.

EXECUTIVE HAS BEEN ADVISED THAT HE HAS AT LEAST TWENTY-ONE (21) DAYS TO CONSIDER THIS SEPARATION
AGREEMENT AND GENERAL RELEASE AND HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO
EXECUTION OF THIS SEPARATION AGREEMENT AND GENERAL RELEASE.

HAVING ELECTED TO EXECUTE THIS SEPARATION AGREEMENT AND GENERAL RELEASE, TO FULFILL THE PROMISES
SET FORTH HEREIN, AND TO RECEIVE THEREBY THE SUMS AND BENEFITS SET FORTH ABOVE, EXECUTIVE FREELY
AND KNOWINGLY, AND AFTER DUE CONSIDERATION ENTERS INTO THIS SEPARATION AGREEMENT AND GENERAL
RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ANY AND ALL CLAIMS HE HAS OR MIGHT HAVE AGAINST THE
TOLLGRADE RELEASED PARTIES. FACSIMILE SIGNATURES EXECUTED IN COUNTERPART WILL HAVE THE SAME FORCE
AND EFFECT AS AN ORIGINAL SIGNATURE.

[Signature Page Follows]

[The remainder of this page is intentionally blank]

			
	 	 	 
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     IN WITNESS HEREOF, the parties have executed this RELEASE as of the dates set forth below.

So Offered and Agreed:

Tollgrade Communications, Inc.

	 	 	 	 	 	 	 
	By:

	 	/s/ Sara M. Antol
	 	Date:
	 	9/17/09
	 

	 	 
	 	 	 	 
	 

	 	Sara M. Antol, General Counsel	 	 	 	 

So Accepted and Agreed:

	 	 	 	 	 
	/s/ Gary W. Bogatay, Jr.

	 	Date:
	 	9/17/09
	 

	 	 	 	 
	Gary W. Bogatay, Jr.
	 	 	 	 

Witness (who attests to the ability and competence of Executive to enter into this
agreement)

	 	 	 
	Cindy Bogatay
	 	/s/ Cindy Bogatay
	 

	 	 
	Printed Name

	 	Signature

			
	 	 	 
	Separation Agreement And General Release
	 	Page 10 of 10exv10w1

Exhibit 10.1.

F.N.B. CORPORATION

RESTRICTED STOCK UNIT AWARD AGREEMENT

(Pursuant to 2007 Incentive Compensation Plan)

     This Restricted Stock Unit Award Agreement (the “Agreement”) is between                                         
(“Participant”) and F.N.B. Corporation (“F.N.B.”) and sets forth the terms and conditions of the
award of Restricted Stock Units granted to Participant on September 16, 2009 (“Grant Date”) by the
Compensation Committee of the Board of Directors (the “Committee”) of F.N.B. pursuant to the terms
of the 2007 Incentive Compensation Plan (the “Plan”). The terms of the Plan are incorporated
herein by reference, including the definitions of terms contained in the Plan. Unless the context
indicates otherwise, all references in this Agreement to “F.N.B.” shall mean F.N.B. and its direct
and indirect subsidiaries and affiliates.

RECITALS

     WHEREAS, F.N.B.’s Board and shareholders have adopted and approved the F.N.B. Corporation
2007 Incentive Compensation Plan (“Plan”); and

     WHEREAS, F.N.B. intends to award certain management employees for F.N.B.’s long term
performance which is designed to deliver total shareholder return by combining an attractive
dividend yield with earnings per share growth for the purpose of attaining a corresponding share
price appreciation; and

     WHEREAS, F.N.B. believes these awards will align management’s interest with those of the
shareholders; and

     WHEREAS, the Participant has accepted the grant of the Restricted Stock Units and agrees to
the terms and conditions stated below:

Section 1. Purpose. The purpose of this award is to align Participant’s interest with
that of F.N.B. shareholders by attaining total shareholder return through a combination of an
attractive dividend yield and earnings per share growth over the performance period, which is
consistent with F.N.B.’s investment thesis of achieving total shareholder return of nine to twelve
percent.

Section 2. Restricted Stock Unit Award. Subject to the provisions of this Agreement and
the provisions of the Plan, F.N.B. hereby grants to Participant                      Restricted Stock Units
(the “Target Amount”) provided that the applicable Vesting Requirements described in 3(a)(i)(1),
(2) and (3) of this Agreement have been met. These Restricted Stock Units are notational units of
measurement denominated in shares of F.N.B. common stock (i.e., one restricted stock unit is
equivalent to one share of F.N.B. common stock). The Restricted Stock Units represent an unfunded,
unsecured deferred compensation obligation of F.N.B.

Section 3. Vesting.

(a) All, a portion, a multiple or none of Participant’s Target Amount will vest subject to the
following terms and conditions:

	 	(i)	 	Time and Performance Requirements. Subject to the forfeiture and
accelerated vesting provisions set forth in Section 4 hereof, the Target Amount shall
become vested in shares of F.N.B. common stock and shall become deliverable in the
amount described in Section 3(b)
hereof (provided such delivery is otherwise in accordance with federal and state
laws) to the Participant on March 1, 2013 (“Vesting Date”), provided each of the
following three vesting 

 

 

	 	 	 	requirements set forth in Section 3(a)(i)(1), (2) and (3)
below, are satisfied, which shall hereinafter be referred to as the “Vesting
Requirements.”

	 	(1)	 	Service Requirement. Participant remains continuously
employed by F.N.B. from the Grant Date through the Vesting Date; and
	 
	 	(2)	 	First Performance Trigger. F.N.B.’s relative return on
average tangible common equity (“ROATCE”), as calculated under Section 3(c)(i)
herein, during the four year period beginning on January 1, 2009, and ending on
December 31, 2012 (the “Performance Period”), is greater than or equal to the
50th percentile of the peer financial institutions’ (identified in
Schedule 1 attached hereto and hereinafter referred to as the “Peer Financial
Institutions”) ROATCE during the Performance Period as approved by the
Committee on January 21, 2009 (“ROATCE Performance Goal”); and
	 
	 	(3)	 	Second Performance Trigger. F.N.B.’s diluted earnings
per share growth during the Performance Period (“F.N.B. EPS Growth”) is
greater than zero, and at or above the 20th percentile of the Peer
Financial Institutions’ diluted earnings per share growth (Peer Financial
Institutions’ EPS Growth”) during the Performance Period, as calculated under
Section 3(c)(ii) herein.

(b) Determination of Vested Restricted Stock Units Award Amount. Provided the Vesting
Requirements are met, the number of the Participant’s Restricted Stock Units that will become
vested on the Vesting Date will be determined as follows:

	 	(i)	 	Maximum. If F.N.B.’s EPS Growth is at or above the 60th
percentile of the Peer Financial Institutions’ EPS Growth during the Performance
Period, then the vested amount shall be 1.75 times the Target Amount (“Maximum
Amount”);
	 
	 	(ii)	 	Target. If F.N.B.’s EPS Growth is at the 35th percentile of
the Peer Financial Institutions’ EPS Growth during the Performance Period, then the
vested amount shall be the Target Amount;
	 
	 	(iii)	 	Threshold. If F.N.B.’s EPS Growth is at the 20th
percentile of the Peer Financial Institutions’ EPS Growth during the Performance
Period, then the vested amount shall be 0.5 times the Target Amount (“Threshold
Amount”); and
	 
	 	(iv)	 	Interpolation Between Levels. For amounts between the Threshold and
Target levels or between the Target and Maximum levels, straight line interpolation,
rounded up to the next whole share, will be used to determine the number of Restricted
Stock Units that shall vest on the Vesting Date. For purposes of this Agreement, the
amount of the Participant’s award that vests under the calculation set forth under this
Section 3(b) of the Agreement shall be referred to herein as the “Award Amount.”

(c) Financial Performance Measurements.

	 	(i)	 	F.N.B. ROATCE. For purposes of this Agreement, the calculation of
F.N.B.’s ROATCE for the Performance Period shall be computed by taking the average of
F.N.B.’s ROATCE
for each year in the Performance Period and comparing that to the average ROATCE for
the Peer Financial Institutions for each year in the Performance Period. ROATCE is
calculated for each year in the Performance Period by taking net income available to
common 

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	 	 	 	shareholders and adding back the after-tax effect of the amortization of
acquisition-related intangible assets, divided by average common shareholders’
equity minus average acquisition-related intangible assets;

	 	(ii)	 	F.N.B. and Peer Financial Institutions’ EPS. For purposes of this
Agreement, the calculation of F.N.B.’s earnings per common share growth for the
four-year Performance Period shall be computed by calculating the compounded annual
growth rate for F.N.B.’s earnings per common share using 2008 earnings per common
share as the base amount and 2012 earnings per common share as the achieved amount and
comparing this result to the same calculation for the Peer Financial Institutions.

Section 4. Forfeiture; Termination of Employment; and Accelerated Vesting of Restricted Stock
Units. Upon the effective date of the termination of Participant’s employment with F.N.B., the
Restricted Stock Units shall immediately be forfeited and returned to F.N.B. by the administrator
of this award program without consideration or future action being required of the Company; except
that notwithstanding the foregoing, in the event such termination is a result of the following
circumstances:

(a) Death. The Target Amount shall automatically vest (to the extent this award has
not been previously forfeited) and become payable in accordance with Section 7 hereof immediately
upon Participant’s death between the Grant Date and the Vesting Date.

(b) Disability. Provided the Vesting Requirements, except for the service
requirement set forth at Section 3(a)(i)(1) hereof, have been met, the Participant shall be
entitled to vesting on the Vesting Date in an amount not less than the pro rata amount of the Award
Amount for the number of full months of the Performance Period the Participant worked since the
Grant Date before the Participant became a “Disabled Participant” (as defined in the Plan) as a
portion of the total number of months in the Performance Period less the number of full months of
the Performance Period prior to the Grant Date. The number of Restricted Stock Units the
Participant is entitled to have vest as a result of becoming a “Disabled Participant” and payable
in accordance with Section 7 hereof, shall be calculated by multiplying the Award Amount by the
fraction, the numerator of which is the number of full months the Participant worked during the
Performance Period since the Grant Date before the date Participant became a “Disabled
Participant,” and the denominator of which is forty-eight (48), representing the total number of
months in the Performance Period, less the number of full months of the Performance Period prior to
the Grant Date.

(c) Early Retirement. Provided the Vesting Requirements have been met, except for the
service requirement set forth at Section 3(a)(i)(1) hereof, the Participant shall be entitled to
vesting on the Vesting Date of not less than the pro rata amount of the Award Amount, payable in
accordance with Section 7 hereof, for the number of full months of the Performance Period during
which Participant remained employed since the Grant Date until the effective date of the
Participant’s “Early Retirement,” as this term is defined in the Plan (i.e., from the Grant Date to
the actual date of the Participant’s Early Retirement). The number of Participant’s Restricted
Stock Units that Participant is entitled to have vest under this Agreement upon Participant’s
“Early Retirement” shall be calculated by multiplying the Award Amount by the fraction, the
numerator of which is the number of full months the Participant worked during the Performance
Period before the Participant’s actual Early Retirement date, and the denominator of which is
forty-eight (48), representing the total number of months in the Performance Period, less the
number of full months of the Performance Period prior to the Grant Date.

(d) Normal Retirement. The service vesting requirement set forth under Section
3(a)(i)(1) of this Agreement shall be waived upon Participant’s “Normal Retirement” (as that term
is defined in the Plan) in a calendar year other than the calendar year in which the award of the
Restricted Stock Units was made to the Participant and Participant’s award shall be entitled to
vest on the Vesting Date in the Award Amount, and

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payable in accordance with Section 7 hereof,
provided the performance vesting requirements set forth at Section 3(a)(i)(2) and (3) are met;
except, however, if Participant’s “Normal Retirement” occurs in calendar year in which the
Restricted Stock Units were granted to Participants, the amount that shall vest on the Vesting Date
will be pro rated by multiplying the Award Amount by the fraction, the numerator of which is the
actual number of full months the Participant worked since the Grant Date in calendar year 2009
prior to the effective date of Participant’s “Normal Retirement” and the denominator of which is
forty-eight (48), representing the total number of months in the Performance Period, less the
number of full months of the Performance Period prior to the Grant Date .

(e) Accelerated Vesting — Change in Control or Sale.

	 	(i)	 	Participant is an Employee of F.N.B. Corporation or First National Bank of
Pennsylvania (“Bank”). In the event a “Change in Control” (as defined in
the Plan) of F.N.B. Corporation or the Bank occurs, prior to the Vesting Date and the
Participant has remained continuously employed by F.N.B., since the Grant Date, the
Target Amount shall immediately vest and be payable in accordance with Section 7
hereof.
	 
	 	(ii)	 	Participant is an Employee of Non-Bank Affiliate. If prior to the
Vesting Date, the Participant is employed by a non-bank affiliate or subsidiary of
F.N.B, and the Participant has remained continuously employed by the non-bank affiliate
or subsidiary, or by the Bank or by F.N.B., the Participant shall be entitled to
immediate vesting on the date of the sale of all or substantially all of the common
stock or assets (“Sale”) of the non-bank affiliate of not less than the pro rata amount
of the Target Amount for the number of full months of the Performance Period since the
Grant Date that the Participant was employed before the effective date of the Sale of
the non-bank affiliate, less the number of full months of the Performance Period prior
to the Grant Date. The amount of Participant’s Target Amount that shall vest under
this Agreement upon the Sale of the non-bank affiliate which employs Participant shall
be calculated by multiplying the Target Amount by the fraction, the numerator of which
is the number of full months the Participant worked in the Performance Period since the
Grant Date up to the Sale date, and the denominator of which is forty-eight (48),
representing the total number of months in the Performance Period, less the number of
full months of the Performance Period prior to the Grant Date.
	 
	 	(iii)	 	Termination of Employment While Change in Control Pending. For
purposes of this Agreement, the termination of the Participant’s employment without
“Cause” (as defined in the Plan), following execution of a definitive agreement
contemplating a “Change in Control” of F.N.B. or the Bank, prior to the consummation
date of the “Change in Control” or such Sale, shall immediately result in full vesting
at the Target Amount. In the event the Participant is an employee of a non-bank
affiliate or subsidiary of F.N.B. and such Participant’s employment is terminated
without “Cause” while a Sale of such non-bank affiliate or subsidiary is pending, then
the Restricted Stock Units shall vest in a pro rata amount for each full month up to
the effective date of the Sale.

Section 5. Restrictions. The Restricted Stock Units shall be subject to the following
restrictions:

     (a) Restrictions on Transfer. The Restricted Stock Units may not be sold,
assigned, transferred, encumbered, hypothecated or pledged by the Participant, other than to F.N.B.
as a result of forfeiture of the units as
provided herein and except by beneficiary designation, will or by laws of descent and distribution
upon the Participant’s death.

-4-

 

     (b) No Voting Rights. The Restricted Stock Units granted pursuant to this
Agreement, whether
or not vested, will not confer any voting rights upon the Participant, unless
and until the Restricted Stock Units are paid to Participant in shares of F.N.B. common stock.

     (c) Restricted Stock Units Subject to the Plans. The Restricted Stock Units
awarded under the Agreement are subject to the terms of the Plan. In the event of a conflict or
ambiguity between any term or provision contained herein and a term or provision of the Plan, the
Plan will govern and prevail.

Section 6. Dividend Equivalents. Any dividend paid in cash on the shares of the F.N.B.
common stock between the Grant Date and the date the Award Amount is paid to Participant under
Section 7 hereof shall not be paid currently, but subject to the vesting requirements described
herein, shall be converted into additional Restricted Stock Units and delivered to Participant in
accordance with Section 7 hereof. Any Restricted Stock Units resulting from the conversion of
these dividend amounts (“Dividend Units”) will be considered Restricted Stock Units for purposes of
this Agreement and will be subject to all the terms, conditions and restrictions set forth herein.
The Dividend Units shall be made in whole and/or fractional Restricted Stock Units and shall be
based on the “Fair Market Value” (as defined in the Plan) of the shares of F.N.B. common stock on
the date of payment of any such dividend. All Dividend Units shall be subject to the same vesting
requirements applicable to previously held Restricted Stock Units in respect of which they were
credited and shall be payable in accordance with Section 7 of this Agreement.

Section 7. Payment of Vested Restricted Stock Units. Payment of Vested Restricted Stock
Units shall be made within thirty (30) days of the Vesting Date following satisfaction of the
Vesting Requirements or within thirty (30) days of an accelerated vesting event described in
Section 3 herein. The Restricted Stock Units shall be paid in shares of F.N.B. common stock, after
deduction of applicable minimum statutory withholding taxes as determined by F.N.B.

Section 8. Adjustments and Significant Events.

     (a) Adjustments. The Committee shall have the authority to make equitable
adjustments to the Restricted Stock Units in recognition of unusual or non-recurring events
affecting F.N.B. or the financial statements of F.N.B. in response to changes in applicable laws or
regulations, or to account for items of gain, loss or expense determined to be extraordinary or
unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business
or related to a change in accounting principles. Additionally, the Restricted Stock Units awarded
under this Agreement shall be subject to the provisions of Section 2.6 of the Plan relating to
adjustments for changes in corporate capitalization.

     (b) Significant Events. In accordance with the terms of the Plan the Committee may
determine the occurrence of a “significant event” which the Committee expects to have a substantial
effect on the measurement of F.N.B.’s ROATCE Performance Goal or F.N.B.’s EPS Growth specified in
this Agreement and therefore, the Committee has sole discretion to establish a revised F.N.B.
ROATCE or F.N.B. EPS Growth measurement or other performance measurement as it shall deem necessary
and equitable for purposes of maintaining the objective of the Award Amount award contemplated by
this Agreement. Such modification of the performance measurements specified in this Agreement by
the Committee shall ensure that the F.N.B.’s ROATCE Performance Goal or the earnings per common
share measurements described in Section 3(c)(ii) hereof, or establishment of new performance
measurements shall in no event be detrimental to the Participant and shall be consistent with any
adjustment to the Company’s capital structure during the Performance Period. Such “significant
events” contemplated herein may include, but not be limited to, capital raises, stock splits, stock
buybacks, sale of business units, business restructuring charges, merger related costs,
non-recurring activities, and other comparable events.

Section 9. No Right of Employment. Nothing in this Agreement shall confer upon the
Participant any right to
continue as an employee of F.N.B. nor interfere in any way with the right of F.N.B. to terminate
the
Participant’s employment at any time or to change the terms and conditions of such employment.

-5-

 

Section 10. Participant Bound by Plan. The Participant hereby acknowledges receipt of
an e-mail from the Company which includes attachments containing copies of (a) the Plan and (b) the
Prospectus relating to the Plan in connection with the registration of F.N.B. common stock under
the Securities Act of 1933, as amended, and the Participant agrees to be bound by all the terms and
provisions thereof. The Participant may receive a free hard copy of these Plan prospectus
documents by requesting a copy from the Company Human Resources Department. To the extent of any
inconsistency between the terms of this Agreement and the terms of the Plan, the latter shall
govern. All capitalized terms used herein and not defined herein shall have the meanings ascribed
to such terms in the Plan.

Section 11. Notices. Any notice hereunder to the Company shall be addressed to it at its
office, F.N.B. Corporation, 3015 Glimcher Blvd., Hermitage, Pennsylvania 16148, c/o Human Resources
Department, and any notice hereunder to the Participant shall be addressed to him/her at his/her
address provided to the Company from time to time, subject to the right of either party to
designate at any time hereafter in writing some other address.

Section 12. Construction and Dispute Resolution. This Agreement shall be governed by and
construed in accordance with the internal laws of the Commonwealth of Pennsylvania, without giving
effect to principles of conflict of laws. All headings in this Agreement have been inserted solely
for convenience of reference only, are not to be considered a part of this Agreement, and shall not
affect the interpretation of any of the provisions of this Agreement. In the event of any dispute
or claim relating to or arising out of this Agreement, the Participant and the Company agree that
all such disputes shall be fully and finally resolved by binding arbitration conducted by the
American Arbitration Association (“AAA”) in Mercer County, Pennsylvania in accordance with the
AAA’s National Rules for the Resolution of Employment Disputes. The Participant acknowledges that
by accepting this arbitration provision he/she is waiving any right to a jury trial in the event of
a covered dispute. The arbitrator may, but is not required, to order that the prevailing party
shall be entitled to recover from the losing party its attorneys’ fees and costs incurred in any
arbitration arising out of this Agreement.

Section 13. Counterparts. This Agreement may be executed in two counterparts, each of
which shall be deemed an original, but both of which together shall constitute one and the same
instrument.

IN WITNESS WHEREOF, F.N.B. Corporation has caused this Restricted Stock Unit Award Agreement to be
executed on its behalf by its authorized officer and the Participant has executed this Restricted
Stock Unit Award Agreement, both as of the day and year first above written.

	 	 	 	 	 
	 	F.N.B. CORPORATION

 	 
	 	By:  	
 	 
	 
	 	 	 
	 	
 	 
	 	 	 
	 	 	 
	 

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