Document:

2006 Amendment to the Tellabs Advantage Plan

 Exhibit 10.28 
 2006 AMENDMENT TO 
 Tellabs Profit Sharing and Savings Plan & Tellabs Retirement Plan

 WHEREAS, Tellabs Operations, Inc. (the “Company”) maintains the Tellabs Profit Sharing and Savings Plan (the “Savings Plan”) and
the Tellabs Retirement Plan (the “Retirement Plan”) (collectively the “Plans”) for the benefit of its Eligible Employees and their Beneficiaries; 
 WHEREAS, the Company has reserved the right to amend the Plans under the terms thereof; 
 WHEREAS, the Board of Directors
pursuant to an unanimous written consent dated April 3, 2006 approved amendment of the Plans to, among other things, provide for the trust to trust transfer of the Retirement Accounts under the Retirement Plan into the Savings Plan and changes
to the trustee and investment funds available under the Savings Plan; 
 WHEREAS, the Board of Directors authorized and directed the preparation and
execution of documents and taking of other actions necessary to reflect the foregoing and to maintain the tax-qualified status of the Plans. 
 NOW
THEREFORE, effective as of the dates set forth below, the Plans are amended as follows: 
 1. Effective April 3, 2006, the name of the Savings Plan is
hereby changed to the “Tellabs 401(k) Plan.” 
 2. Effective April 3, 2006, the restriction on investment of Participant Profit Sharing
Accounts is eliminated and Participants may elect to have the amounts in the Profit Sharing Accounts invested in any Fund available under the Savings Plan from time to time. 
 3. Effective April 3, 2006, all Retirement Accounts under the Retirement Plan shall be transferred to and made a part of the Savings Plan. The provisions and restrictions in the Retirement Plan relating to a
Participant’s Retirement Account shall continue to apply after the transfer unless otherwise set forth in this Amendment. 
 4. Effective April 3,
2006, Retirement Accounts will be considered when determining if a Participant has an account balance below the force out limit in Section 7.1.(g) of the Plan. However, the Retirement Account may not be distributed as part of the force out.

 IN WITNESS WHEREOF, Tellabs Operations, Inc. has caused this Amendment to be executed by a duly authorized officer as of this 29th day of December 2006.

  

			
	TELLABS OPERATIONS, INC.
		
	By:	 	 /s/ Paul M. Liebenson

		
	Its:	 	Assistant SecretaryForm of Settlement Agreement

 Exhibit 10.2 
 FORM OF SETTLEMENT AGREEMENT 
 This Settlement Agreement (the “Agreement”) is entered into
as of January 18, 2007 by and among [                        ] (the “Executive”),
CHITTENDEN CORPORATION (the “Buyer”), a Vermont corporation, MERRILL MERCHANTS BANCSHARES, INC., a Maine corporation
(the “Seller”) and MERRILL MERCHANTS BANK, a Maine chartered stock bank (the “Seller Bank”). 
 WITNESSETH: 
 WHEREAS, Buyer and Seller are entering into an Agreement and Plan
of Merger, dated as of January 18, 2007 (the “Merger Agreement”); and 
 WHEREAS, the Buyer, Seller, Seller Bank and the
Executive desire to enter into this Agreement, which shall terminate the employment agreement between the Seller Bank and the Executive dated January 17, 2006, (the “Employment Agreement”) as of the Effective Time of the Merger, and
in lieu of any rights and payments under the Employment Agreement, the Executive shall be entitled to the rights and payments set forth herein; 
 NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Executive, Buyer, Seller, and the Seller Bank agree as follows: 
 1. Payment to Be Made on the Closing Date of the Merger. On the Closing Date, provided (i) the Executive is still employed by Seller Bank
immediately prior to the Effective Time of the Merger and (ii) the Executive has not revoked the release contained in Section 3 hereof, Seller Bank shall pay to the Executive a lump sum cash amount equal to
[$400,000—Edwin N. Clift, $324,600—William P. Lucy and $265,200—Deborah A. Jordan], less applicable tax withholdings. In consideration of such payment and the other provisions of this Agreement, the Executive, Buyer,
Seller and Seller Bank hereby agree that the Employment Agreement with Seller Bank shall be terminated without any further action of any of the parties hereto, effective immediately prior to the Effective Time of the Merger. The Executive agrees
that the above payment shall be in complete satisfaction of all of his rights to payments or benefits under the Employment Agreement. 
 2.
Payment of Fringe Benefits. Buyer agrees to provide the Executive with continued health, dental, life and disability coverage pursuant to the policies currently offered by Seller Bank (or comparable policies offered to similarly-situated
employees of Buyer) until the earlier of twenty-four (24) calendar months following the Effective Time of the Merger or the Executive’s commencement of full-time employment with a new employer (including employment with the Buyer, except
that any period of time following the Closing Date during which the Executive is employed by Buyer shall offset the twenty-four (24) calendar months 

 
referenced in this Section 2 in the event that the Executive’s employment with the Buyer is terminated without Cause by the Buyer with Cause for
this purpose having the same definition used in Section 6.12(d) of the Merger Agreement and associated schedules), subject to the terms and conditions of such policies, with the Executive responsible for paying the same share of any premiums,
copayments or deductibles as if he was an employee, except as set forth below in this Section 2. The health and dental coverage shall include any dependents of the Executive who are covered as of the date of this Agreement and who remain
covered as of the Effective Time of the Merger. In the event the Executive’s participation in any such plan is barred, Buyer shall arrange to provide the Executive with benefits substantially similar to those which the Executive would otherwise
have received under such plans from which his continued participation is barred or provide their economic equivalent. In addition, notwithstanding the foregoing, if the provision of any of the benefits covered by this Section 2 would trigger
the 20% tax and interest penalties under Section 409A of the Code, then the benefit(s) that would trigger such tax and interest penalties shall not be provided (collectively, the “Excluded Benefits”), and in lieu of the Excluded
Benefits Buyer shall pay to the Executive, in a lump sum within 30 days following termination of employment or within 30 days after such determination should it occur after termination of employment, a cash amount equal to the economic equivalent of
such Excluded Benefits. 
 3. Releases. Upon payment of the amount set forth in Section 1 hereof, the Executive, for himself and
for his heirs, successors and assigns, does hereby release completely and forever discharge Buyer, Seller and Seller Bank, their respective affiliates and successors and the current and former directors, officers, employees and agents of each of
them (any and all of which are referred to below as the “Releasees”) from any obligation under the Employment Agreement (other than the obligations of Buyer to provide benefits pursuant to Section 2 above which shall continue for the
period specified therein) and of and from all debts, actions, causes of action, suits, accounts, covenants, contracts, agreements, damages, and any and all claims, demands, and liabilities whatsoever of every name and nature, known or unknown (all
referred to below as “claims”) that the Executive has, claims to have, ever had, or ever claimed to have had against the Releasees. The claims that the Executive releases include, without implication of limitation, all claims relating to
Executive’s employment with Seller and/or Seller Bank all claims of any form of alleged unlawful employment discrimination, including all claims based upon the Age Discrimination Employment Act, 29 U.S.C. § 621 et seq., Title VII of the
Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., or the Maine Human Rights Act, 5 M.R.S.A. §§ 4551-4634; all claims of breach of either express or implied contract; all claims that the Releasees engaged in any tortious conduct;
all claims for salary, wages, vacation pay, separation pay, expense reimbursement, or any other form of compensation (except as otherwise provided herein); all claims for attorney’s fees; and all claims for reinstatement of employment with
Seller and/or Seller Bank. Executive acknowledges that Executive has been advised to consult with an attorney before signing this Agreement, including the release contained in this Section 3 (the “Release”). Executive further
understands that Executive may consider this Release for up to twenty-one (21) days before deciding whether to sign it. If Executive signed this Release before the expiration of that twenty-one (21) day period, Executive acknowledges that
such decision was entirely voluntary. Executive understands that if Executive does not sign and return this General Release to Buyer’s Human Resources Department by the end of that twenty-one (21) day period, the offer to provide the
payment described in Section 1 and the benefits in described in Section 2 (above) will expire. Executive understands that for a period of seven (7) days after 

  

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Executive executes this Release, Executive shall have the right to revoke it by a written notice to be received by Buyer’s Human Resources Department by
the end of that period. Executive also understands that this Release shall not be effective or enforceable until the expiration of that period. Executive further represents and agrees that Executive has carefully read and fully understands all of
the provisions of this Release and that Executive is voluntarily agreeing to those provisions. Executive acknowledges that Executive has not been induced to sign this Release by any representations of Buyer, Seller and/or Seller Bank other than the
offer to provide the payment and benefits described in Sections 1 and 2 (above). This Agreement shall not release Buyer, Seller or Seller Bank from any of the following: (a) obligations to pay to the Executive wages earned up to the Effective
Time of the Merger; (b) the payment of any of the Executive’s vested benefits, or honoring any of the Executive’s rights under the Employee Programs of the Company (including any benefits under a supplemental executive retirement
program covering the Executive), excluding any employment agreement or other severance agreement, (c) the payment of the Merger Consideration with respect to the Executive’s common stock of Seller or stock options with respect to the
common stock of Seller, or (d) the obligations of Buyer and/or Seller under Section 6.11 of the Merger Agreement. 
 4.
Section 280G Cut-Back. Notwithstanding anything in this Agreement to the contrary, in no event shall any payments be made or benefits provided under this Agreement, when combined with all other payments and benefits to the Executive, be
allowed to render any such payment or benefit nondeductible under Section 280G of the Code or to trigger an excise tax under Section 4999 of the Code. In such event, the payments and/or benefits to be provided under this Agreement shall be
reduced, but not below zero, such that the aggregate benefits to be provided to the Executive do not exceed 2.99 multiplied by the Executive’s “base amount” (as such term is defined in Section 280G of the Code). If any reduction
is to be made under this Section 4, the Executive may specify by written notice which payments and benefits shall be reduced (i.e., the Executive may elect whether to have reductions made from either Section 1 or Section 2 hereof).

 5. General. 
 (a)
Heirs, Successors and Assigns. The terms of this Agreement shall be binding upon the parties hereto and their respective heirs, successors and assigns. 
 (b) Final Agreement. This Agreement represents the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings, written or oral. The terms of this
Agreement may be changed, modified or discharged only by an instrument in writing signed by each of the parties hereto. 
 (c)
Withholdings. Seller, Seller Bank and Buyer may withhold from any amounts payable under this Agreement such federal, state, or local taxes as may be required to be withheld pursuant to applicable law or regulation. 
 (d) Governing Law. This Agreement shall be construed, enforced and interpreted in accordance with and governed by the laws of the State of Maine,
without reference to its principles of conflicts of law, except to the extent that federal law shall be deemed to preempt such state laws. 
  

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 (e) Defined Terms. Any capitalized terms not defined in this Agreement shall have as their meaning
the definitions contained in the Merger Agreement. 
 (f) Voluntary Action and Waiver. The Executive acknowledges that by his free and
voluntary act of signing below, the Executive agrees to all of the terms of this Agreement and intends to be legally bound thereby. The Executive acknowledges that he has been advised to consult with an attorney prior to executing this Agreement.

 (g) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but
all of which together shall constitute one and the same instrument. 
 5. Effectiveness. Notwithstanding anything to the contrary
contained herein, this Agreement shall be subject to consummation of the Merger in accordance with the terms of the Merger Agreement, as the same may be amended by the parties thereto in accordance with its terms. In the event the Merger Agreement
is terminated for any reason, this Agreement shall be deemed null and void with respect to all actions not yet taken pursuant to this Agreement. 
 [Signature page follows] 
  

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 IN WITNESS WHEREOF, Buyer, Seller and Seller Bank have each caused this Agreement to be executed by their
duly authorized officers, and the Executive has signed this Agreement, effective as of the date first above written. 
  

							
	 WITNESS:
	 		 	EXECUTIVE:
			
	  
	 		 	  

	Name:	 		 	Name:
			
	ATTEST:	 		 	MERRILL MERCHANTS BANCSHARES, INC.
				
	  
	 		 	By:	 	  

	Name:	 		 	Name:	 	
		 		 	Title:	 	
			
	ATTEST:	 		 	MERRILL MERCHANTS BANK
				
	  
	 		 	By:	 	  

	Name:	 		 	Name:	 	
		 		 	Title:	 	
			
	ATTEST:	 		 	CHITTENDEN CORPORATION
				
	  
	 		 	By:	 	  

	Name:	 		 	Name:	 	
		 		 	Title:	 	

  

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