Document:

exv10w1

Exhibit 10.1

Amended and Restated

Non-Employee Director Compensation Summary

1. The following non-employee Board members will receive the following annual retainer:

     (a) The non-executive chairman of the Board will receive a $100,000 annual retainer;

     (b) Each non-employee Board member (other than the non-executive chairman of the Board) will
receive a $50,000 annual retainer;

     (c) The chairman of the Audit Committee will receive an additional $10,000 annual retainer;
and

     (d) Each chairman of each Committee of the Board (other than the chairman of the Audit
Committee) will receive an additional $5,000 annual retainer.

2. The annual retainer amounts set forth above shall be payable quarterly in arrears on the fifth
business day prior to the end of each calendar quarter. For each year, any such Board member may
elect (by giving written notice to the Company on or before the first business day of the
applicable calendar year) to receive such annual retainer in the form of shares of Common Stock of
the Company, payable quarterly in arrears on the fifth business day prior to the end of each
calendar quarter under the Town Sports International Holdings, Inc. 2006 Stock Incentive Plan, as
amended (the “Plan”) (with the value of such shares of Common Stock being the Fair Market
Value (as defined in the Plan) thereof on the fifth business day before the end of each calendar
quarter). Notwithstanding the preceding sentence, any Board member who has so elected to receive
such annual retainer in the form of shares of Common Stock of the Company may revoke such election
for the balance of such calendar year by giving written notice to the Company at any time when such
Board member is otherwise eligible to purchase and sell shares of Common Stock of the Company
pursuant to the Company’s then existing trading policies and procedures with respect to such
purchases and sales. This annual retainer will be pro rated for any partial year.

4. Each existing non-employee Board member will receive an annual award of restricted stock on
the third Wednesday of each calendar year as follows, with each award being fully vested as of the
award date, and will otherwise be subject to the terms of the Plan:

     (a) Chairman of the Board: 2,500 shares

     (b) Other non-employee Board member: 1,667 shares

Additional grants may be made from time to time.

5. Each new non-employee Board member joining the Board will receive an initial award of
1,667 shares of restricted stock, which shares shall be fully vested as of the award date. Each new
non-employee Board member will be eligible in the following year to receive the annual restricted
stock award referred to in Section 4 above.

6. No member of the Board will receive any fees for attending any meetings of the Board or its
committees.

7. Each non-employee Board member and each member of a Board committee will be reimbursed for
any out-of-pocket expenses reasonably incurred by him or her in connection with services provided
in such capacity.

Effective May 25, 2011exv10w4

Exhibit 10.4

FIRSTMERIT CORPORATION

2011 EQUITY INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

     FirstMerit Corporation (“the Company”) hereby grants the undersigned Participant an Award of
restricted Shares of the Company (“Restricted Stock”), subject to the terms and conditions
described in the FirstMerit Corporation 2011 Equity Incentive Plan (the “Plan”) and this Restricted
Stock Award Agreement (this “Award Agreement”).

	1.	 	Name of Participant: ____________________________
	 
	2.	 	Grant Date: April 20, 2011 (the “Grant Date”)
	 
	3.	 	Number of Shares of Restricted Stock: _________________________
	 
	4.	 	Vesting. Subject to Section 5, the Restricted Stock will vest on April 21, 2012 (the
“Vesting Date”). If the Vesting Date is not a business day, the Vesting Date will be the
immediately following business day.
	 
	5.	 	Effect of Termination; Change in Control. If, prior to the Vesting Date:

	 	(a)	 	The Participant terminates service on the Board for any reason other than due to
the Participant’s death, all unvested Restricted Stock will be forfeited.
	 
	 	(b)	 	The Participant dies or becomes Disabled, all unvested Restricted Stock will
become fully vested.
	 
	 	(c)	 	A Change in Control occurs, all unvested Restricted Stock will become fully
vested.

	6.	 	Transfer Restrictions: Until the Restricted Stock becomes vested as described in Section 4
or Section 5, the Restricted Stock may not be sold, transferred, pledged, assigned or
otherwise alienated or hypothecated.
	 
	7.	 	Settlement: The Restricted Stock will be issued in the Participant’s name and held in
escrow by, and subject to a security interest in favor of, the Company until the restrictions
with respect to the Restricted Stock lapse or the Restricted Stock is forfeited as provided in
this Award Agreement. The Restricted Stock will be released of any restrictions and
distributed to the Participant as soon as administratively feasible if the applicable terms
and conditions of this Award Agreement are satisfied. Any fractional shares of Restricted
Stock will be settled in cash.
	 
	8.	 	Other Terms and Conditions:

	 	(a)	 	Rights Before Vesting. Before the Restricted Stock vests, the
Participant: (i) may exercise full voting rights associated with the Shares underlying
the Restricted Stock; and (ii) will be entitled

 

 

	 	 	 	to receive all dividends and other
distributions paid with respect to the Shares underlying the
Restricted Stock, although any dividends or other distributions paid in Shares will be
subject to the same restrictions, terms and conditions as the Restricted Stock to
which it relates.
	 
	 	(b)	 	Beneficiary Designation. The Participant may name a Beneficiary or
Beneficiaries (who may be named contingently or successively) to receive any Restricted
Stock that is settled after the Participant’s death. Each designation made will revoke
all prior designations, must be made on a form prescribed by the Committee and will be
effective only when filed in writing with the Committee. If the Participant has not
made an effective Beneficiary designation, the Beneficiary will be the Participant’s
surviving spouse or, if there is no surviving spouse, the Participant’s estate.
	 
	 	(c)	 	Transferring the Restricted Stock. Except to the extent the Committee
permits otherwise, the Restricted Stock may not be sold, transferred, pledged, assigned
or otherwise alienated or hypothecated, except by will or the laws of descent and
distribution. However, as described in Section 8(b), the Participant may designate a
beneficiary to receive the Restricted Stock if the Participant dies before the
Restricted Stock is settled.
	 
	 	(d)	 	Governing Law. This Award Agreement will be construed in accordance
with, and governed by the laws (other than laws governing conflicts of laws) of, the
State of Ohio. In the event of any dispute or controversy arising under or in
connection with this Award Agreement, the parties consent to the jurisdiction of the
Common Pleas Court of the State of Ohio (Summit County) or The United States District
Court for the Northern District of Ohio, Eastern Division.
	 
	 	(e)	 	Restricted Stock Subject to Plan. The Restricted Stock is subject to the
terms and conditions described in this Award Agreement and the Plan, which is
incorporated by reference into and made a part of this Award Agreement. In the event of
a conflict between the terms of the Plan and the terms of this Award Agreement, the
terms of the Plan will govern. The Committee has the sole responsibility of
interpreting the Plan and this Award Agreement, and its determination of the meaning of
any provision in the Plan or this Award Agreement will be binding on the Participant.
Capitalized terms that are not defined in this Award Agreement have the same meanings as
in the Plan.
	 
	 	(f)	 	Other Agreements. The Restricted Stock and this Award Agreement will be
subject to the terms of any other written agreements between the Participant and the
Company and any Related Entity to the extent that those other agreements do not directly
conflict with the terms of the Plan or this Award Agreement.
	 
	 	(g)	 	Assignment. This Award Agreement will be binding upon the Company and
the Participant, their respective heirs, personal representatives, executors,
administrators, and successors. The Company may freely assign or transfer this Award
Agreement without the Participant’s consent.
	 
	 	(h)	 	Acknowledgement; Return of Agreement. This Award Agreement (and the
Restricted Stock) automatically will be revoked unless the Participant signs the
acknowledgement appearing at the end of this Award Agreement and returns a copy of the
signed Award Agreement to the Committee no later than 30 days after the Grant Date.
	 
	 	(i)	 	Listing, Registration, Qualification. If the Board concludes that the
listing, registration or qualification upon any securities exchange, under any state or
federal law, or the approval or

 

 

	 	 	 	consent of any governmental body is necessary or
desirable as a condition to the issuance of the
Restricted Stock, the Restricted Stock may not be issued in whole or in part unless
and until that listing, registration, qualification or approval has been obtained,
free of any conditions which are not acceptable to the Board and the sale and delivery
of stock under this Award Agreement is also subject to the same requirements and
conditions.
	 
	 	(j)	 	Signature in Counterparts. This Award Agreement may be signed in
counterparts, each of which will be deemed an original, but all of which will constitute
one and the same instrument.
	 
	 	(k)	 	Section 83(b) Election. The Participant may file an election pursuant to
Section 83(b) of the Code to be taxed currently on the Fair Market Value of the shares
of Restricted Stock (less any purchase price paid for the Restricted Stock). The
election will be made on a form provided by the Company and must be filed with the
Internal Revenue Service no later than 30 days after the Grant Date. The Participant
must seek the advice of the Participant’s own tax advisors as to the advisability of
making such an election, the potential consequences of making such an election, the
requirements for making such an election, and the other tax consequences of the
Restricted Stock under federal, state, and any other laws, rules and regulations that
may be applicable. The Company and its Related Entities and agents have not and are not
providing any tax advice to the Participant.

[signature page attached]

 

 

     IN WITNESS WHEREOF, the Company has caused the Award to be granted pursuant to this Award
Agreement on the date first above written.

FIRSTMERIT CORPORATION

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

	 	 
	 

	 	Christopher J. Maurer	 	 

*****

ACKNOWLEDGEMENT

By signing below, the Participant acknowledges and agrees that:

	•	 	A copy of the Plan and the Plan’s Prospectus have been made available to the Participant;
	 
	•	 	The Participant has read and understands and accepts the conditions placed on the
Restricted Stock; and
	 
	•	 	If the Participant does not return a signed copy of this Award Agreement to the address
shown below not later than 30 days after the Grant Date, the Restricted Stock will be
forfeited and the Award Agreement will terminate and be of no further force or effect.

FirstMerit Corporation

Compensation Department, CAS 82

III Cascade Plaza

Akron, Ohio 44308

PARTICIPANT

	 	 	 

	 
	 

	 	 
	Signature
	 	 
	 
	 	 
	 

	 	 

Printed Name

Date: ____________________

 

 

FIRSTMERIT CORPORATION

2011 EQUITY INCENTIVE PLAN

INSTRUCTIONS FOR COMPLETING SECTION 83(b) ELECTION FORM

A Participant may make an election under Section 83(b) of the Code with respect to Restricted
Stock. To do this:

	 	•	 	The Grantee must make the election by completing the attached form;
	 
	 	•	 	Within 30 days of the Grant Date, the Grantee must send a copy of this form to the
internal revenue office at which the Grantee files his or her federal income tax return;
	 
	 	•	 	A copy of this form must be submitted with the Grantee’s income tax return for the
taxable year in which the property is transferred; and
	 
	 	•	 	The Grantee also must send a copy of this form to:
	 
	 	 	 	FirstMerit Corporation
	 
	 	 	 	Compensation Department, CAS 82
	 
	 	 	 	III Cascade Plaza
	 
	 	 	 	Akron, Ohio 44308

FIRSTMERIT CORPORATION

2011 EQUITY INCENTIVE PLAN

ELECTION UNDER SECTION 83(b) OF THE INTERNAL REVENUE CODE OF 1986

The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code, to
include in taxpayer’s gross income for the current taxable year, the amount of any income that may
be taxable to taxpayer in connection with taxpayer’s receipt of the property described below:

	1.	 	The name, address, taxpayer identification number and taxable year of the undersigned are as
follows:

	 	 	 	 	 	 	 

	 

	 	NAME AND ADDRESS OF TAXPAYER:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 

 

 

	 	 	TAXPAYER IDENTIFICATION NUMBER OF TAXPAYER: _________________
	 
	 	 	TAXABLE YEAR: Calendar year 20_.
	 
	2.	 	The property with respect to which the election is made is:
	 
	 	 	_________ common shares, without par value, of FirstMerit Corporation, an Ohio corporation
(“Company”).
	 
	3.	 	The date on which the property was transferred is: __________________
	 
	4.	 	The property is subject to the following restrictions:
	 
	 	 	Forfeiture of all shares, unless the taxpayer is serving as a director of the Company on
April 21, 20___, subject to accelerated vesting if the taxpayer dies, becomes disabled or a
change in control occurs.
	 
	5.	 	The fair market value at the time of transfer, determined without regard to any restriction
other than a restriction which by its terms will never lapse, of such property is: $________.
	 
	6.	 	The amount (if any) paid for such property: $0.00
	 
	 	 	The undersigned has submitted a copy of this statement to the Company. The transferee of
such property is the person performing the services in connection with the transfer of said
property.

The undersigned understands that the foregoing election may not be revoked except with the consent
of the Commissioner.

	 	 	 	 	 	 	 

	Dated:
	 	 	 	 	 	 
	 

	 	 

	 	 

	 	 
	 

	 	 	 	(signature)	 	 

 

 

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FIRSTMERIT CORPORATION

By:
/s/
TERRENCE E. BICHSEL               

Terrence E. Bichsel, Executive Vice President

and Chief Financial Officer (duly authorized officer of registrant

and principal financial officer)

July 29, 2011

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