Document:

EX-10.5

 

Exhibit 10.5

FIRSTMERIT CORPORATION

AMENDED AND RESTATED

2006 EQUITY PLAN

EMPLOYEES’ RESTRICTED STOCK AWARD AGREEMENT

RELATING TO RESTRICTED STOCK AWARD GRANTED TO

                                         ON MM/DD/YEAR

     This RESTRICTED STOCK AWARD AGREEMENT (“Agreement”) is made and entered into this                     
day of February, 20___(the “Grant Date”), by and between FIRSTMERIT CORPORATION (the
“Company”), and                                          (the “Grantee”).

     WITNESSETH, THAT:

     WHEREAS, the Company maintains the FirstMerit Corporation Amended and Restated 2006 Equity
Plan (the “Plan”), as amended from time to time; and

     WHEREAS, one of purposes of the Plan is to enable employees of the Company and its Related
Entities to acquire a proprietary interest (or to increase an existing proprietary interest) in the
Company, and to provide employees with a more direct stake in the future and welfare of the Company
and its Related Entities and to encourage them to remain employed with the Company or its Related
Entities; and

     WHEREAS, the Grantee understands that this Agreement will be revoked retroactively (and will
be of no effect whatsoever), unless the acknowledgement appearing at the end of this Agreement is
signed and returned no later than 30 days after the Grant Date; and

     WHEREAS, although the Company intends that the Award be exempt from the requirements of
Section 409A of the Code (“Section 409A”), the Company has the authority to amend this Agreement,
without any further consideration, to comply with Section 409A, even if those amendments change the
terms of this Agreement in a way that reduce the value or potential value of the Award.

     NOW, THEREFORE, the Company and the Grantee agree as follows:

     1. Grant. A restricted stock award (“Award”) of                      shares (“Award Shares”) of the
Company’s common shares, without par value (“Stock”), is hereby granted by the Company to the
Grantee subject to the following terms and conditions and to the provisions of the Plan, the terms
of which are hereby incorporated by reference. Capitalized terms used but not expressly defined in
this Agreement will have the meanings given to them in the Plan.

     Subject to the terms of the Plan, if, before restrictions imposed on the Award Shares lapse,
there is a Stock dividend or Stock split, recapitalization (including payment of an extraordinary
dividend), merger, consolidation, combination, spin-off, distribution of assets to shareholders,
exchange of shares or other similar corporate change affecting Stock, an appropriate adjustment
will be made to the number of Award Shares and other limitations applicable to the Award Shares.

 

 

     2. Transfer Restrictions. Subject to the terms and conditions of the Plan and this Agreement,
none of the Award Shares may be sold, assigned or transferred, in whole or in part, voluntarily or
involuntarily, by the Grantee, nor made subject to any lien, directly or indirectly, by operation
of law or otherwise, including execution, levy, garnishment, attachment, pledge or bankruptcy.
However, the Grantee may designate a Beneficiary to receive any Award Shares issuable after the
Grantee’s death.

     3. Release of Restrictions.

     A. Except as provided in Sections 3(B) and 4, and subject to the Grantee’s continued
employment with the Company and its Related Entities, the restrictions set forth in Section 2 above
will lapse and the Award Shares will vest as follows:

	 	1.	 	with respect to                      Award Shares on February 21, 20___;
	 
	 	2.	 	with respect to                      Award Shares on February 21, 20___; and
	 
	 	3.	 	with respect to                      Award Shares on February 21, 20___.

     B. The restrictions set forth in Section 2 above will fully lapse and the Award Shares will
vest on the date of any Change in Control.

	 	4.	 	Effect of Terminating Employment.
	 
	 	A.	 	Retirement:
	 
	 	 	 	If the Grantee Retires, all Award Shares that are unvested will be forfeited
immediately.
	 
	 	B.	 	Death or Disability:
	 
	 	 	 	If the Grantee dies or becomes Disabled, all Award Shares that are unvested will be
fully vested.
	 
	 	C.	 	Termination for any Other Reason:
	 
	 	 	 	If the Grantee Terminates for any reason not described in Sections 4(A) or 4(B),
all unvested Award Shares will be forfeited immediately.

     5. Taxes. When Award Shares vest, the Grantee may elect to (A) pay to the Company from the
Grantee’s payroll account an amount sufficient to satisfy any federal, state and local tax
withholding requirements or (B) have the Company withhold vested Award Shares that would otherwise
be issued under the Plan with a Fair Market Value equal to the minimum amount that must be withheld
to comply with applicable federal, state and local income, employment and wage tax
laws. The Company will defer issuance of the vested Award Shares until the earlier of (i) 30
days

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after the settlement date or (ii) the date the Grantee remits the required amount. If the
Grantee has not remitted the required amount within 30 days after the settlement date, the Company
will permanently withhold a number of Award Shares that would otherwise be distributed with a Fair
Market Value equal to the minimum amount that must be withheld to comply with applicable federal,
state and local income, wage and employment taxes and distribute the balance of the vested Award
Shares to the Grantee.

     6. Rights as Shareholder. The Grantee will be entitled to all of the rights of a shareholder
with respect to the Award Shares, including the right to vote the Award Shares and to receive
dividends and other distributions payable with respect to the Award Shares after the Grant Date;
provided, however, that if any dividends or other distributions are paid in shares of Stock, those
shares will be subject to the same restrictions on transferability and forfeitability as the Award
Shares with respect to which they were issued.

     7. Escrow of Share Certificates. For the purposes of securing the re-transfer of the Award
Shares into the name of the Company in the event of forfeiture, certificates for the Award Shares
will be issued in the Grantee’s name and will be held in escrow by, and subject to a security
interest in favor of, the Company until restrictions with respect to the Award Shares lapse or the
Award Shares are forfeited as provided in this Agreement; provided, however, that the terms of the
escrow will make allowance for the transactions contemplated by Section 3(B). A certificate or
certificates representing the Award Shares as to which restrictions have lapsed will be delivered
to the Grantee after those restrictions have lapsed.

     8. Beneficiary Designation. The Grantee may name a Beneficiary or Beneficiaries (who may be
named contingently or successively) to receive any Award Shares that are vested but are settled
after the Grantee’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 Grantee has not made an effective Beneficiary designation, the deceased
Grantee’s Beneficiary will be the Grantee’s surviving spouse or, if there is no surviving spouse,
the deceased Grantee’s estate.

     9. Restrictive Covenants.

	 	A.	 	The Grantee acknowledges and agrees that as a condition to and
in consideration of the grant of this Award, the Grantee will not engage in
solicitation of customers of, or interference with employees of, the Company or
any Related Entity (“Protected Party”), directly or indirectly, for a period of
time after the Termination of employment with the Company and all Related
Entities, irrespective of who initiates the Termination or the reason for the
Termination. The Grantee acknowledges that the Grantee has received sufficient
consideration in exchange for these covenants not to solicit or interfere.

3

 

	 	B.	 	The Grantee covenants that if the Grantee’s employment is
Terminated by either party for any reason whatsoever, the Grantee will not for
a period of twelve (12) months (“Restrictive Period”) thereafter:

	 	1.	 	Solicit, engage or otherwise interfere with any
customer or client who is at that time or was within the preceding
ninety (90) days a customer or client of the Protected Party for the
purposes of directly or indirectly furnishing any financial or banking
services that a national banking association, bank holding company,
state bank, savings and loan association or other regulated financial
institution is permitted by law to conduct or furnish on the date the
Grantee’s employment is Terminated.
	 
	 	2.	 	Employ, solicit for employment, engage or
otherwise interfere with any person who is at that time or was within
the preceding ninety (90) days employed by the Protected Party, or
otherwise directly or indirectly induce or take any action which would
encourage or influence any such person to leave that person’s
employment or terminate, reduce or modify their business or
relationship with the Protected Party.

	 	 	 	The restrictive covenants and Restrictive Period provided for herein will
not be construed to limit the application of any other restrictive covenant
or restriction period set forth in any other agreement entered into between
the Grantee and the Company or a Related Entity
	 
	 	C.	 	The Grantee acknowledges that the Grantee is entering into this
Agreement voluntarily and has given careful consideration to the restraints
imposed by this Agreement. Irrespective of the manner of any employment
termination, the restraints imposed by this Agreement will be operative during
their full time periods and throughout the restrictive areas set forth in this
Agreement. The Grantee further acknowledges that if the Grantee’s employment
with the Company and all Related Entities Terminates for any reason the Grantee
can earn a livelihood without violating the foregoing restrictions and that the
Grantee’s ability to earn a livelihood without violating these restrictions is
a material employment condition. The Grantee acknowledges and recognizes that
if the Grantee’s employment Terminates for any reason, this Section 9 and
Section 10 hereinbelow will survive any such Termination and any expiration of
the term of this Agreement. Further, the Grantee agrees and consents that this
Agreement is assignable by the Company.
	 
	 	D.	 	The Grantee agrees that if a court of law finds that the
provisions of this Agreement are too harsh so that they are unenforceable, then
such court of
law may enforce those restrictions and limitations which are acceptable and
deemed enforceable by the court.

4

 

	 	E.	 	Further, in the event the Grantee breaches the terms of this
Agreement, it is agreed that all time periods contained in this Agreement will
be tolled until the Grantee ceases to breach this Agreement.
	 
	 	F.	 	If the Grantee violates the restrictive covenants described in
this Section 9, the Grantee will be required to reimburse the Company in an
amount equal to the value of any Award Shares that vested within the period
beginning one year prior to the Grantee’s Termination and ending on the
Grantee’s date of Termination, net of any taxes withheld (the “Clawback
Amount”). The value of the Award Shares described in the preceding sentence
will be the Fair Market Value of such Award Shares on the date they vested, and
the Clawback Amount will be paid either in cash or by returning to the Company
a number of shares of Stock with a Fair Market Value equal to such Clawback
Amount. Notwithstanding the foregoing, nothing in this Section 9(F) will
prevent a Protected Party from seeking any other relief or remedy described in
Section 11 of this Agreement.

     10. Nondisclosure and Non-appropriation of Information.

	 	A.	 	The Grantee recognizes and acknowledges that while employed by
the Company and all Related Entities, the Grantee will have access to, learn,
be provided with and, in some cases, prepare and create, certain confidential
information, proprietary information or Trade Secrets (as defined below) of the
Protected Party, including, but not limited to, processes, financial
information, pricing information, operating techniques, marketing processes,
training techniques, customer, vendor, and referral source lists, price and
cost information, files and forms, (hereinafter collectively referred to as the
“Trade Secrets”), all of which are of substantial value to the Protected Party
and the businesses conducted by it.
	 
	 	B.	 	The Grantee expressly covenants and agrees:

	 	1.	 	That the Grantee will hold in a fiduciary
capacity and will not reveal, communicate, use or cause to be used for
the Grantee’s own benefit or divulge during the period of employment by
the Company and all Related Entities and for an indefinite period
thereafter, any Trade Secrets, or other proprietary information or
Trade Secrets right now or hereafter owned by the Protected Party;
	 
	 	2.	 	That the Grantee will not sell, exchange or
give away, or otherwise dispose of any proprietary information or Trade
Secrets now or
hereafter owned by the Protected Party, whether the same will or may
have been originated or discovered by the Protected Party, the
Grantee or otherwise;

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	 	3.	 	That the Grantee will not reveal, divulge or
make known to any person, firm, company or corporation any proprietary
information or Trade Secrets of the Protected Party;
	 
	 	4.	 	That the Grantee will return to the Company or
any other Protected Party, either before or immediately (within 24
hours) upon the Grantee’s termination of employment with the Company
and all Related Entities, any and all written information, material or
equipment that constitutes, contains or relates in any way to
proprietary information, Trade Secrets and any other documents,
equipment, and material of any kind relating in any way to the business
of the Protected Party, which are in the Grantee’s possession, custody
and control and which are or may be property of Protected Party,
whether confidential or not, including any and all copies thereof which
may have been made by or for the Grantee and that the Grantee will
maintain no copies thereof after termination of this Agreement; and
	 
	 	5.	 	The obligations of this paragraph will survive
any Termination and any expiration of the term of this Agreement.

     11. Injunction. The parties acknowledge and agree, due to the subject matter of this
Agreement, that money damages will be an inadequate remedy for a breach by the Grantee of any of
the obligations hereunder. Consequently, if the Grantee breaches or threatens to breach any of the
obligations under this Agreement, the Grantee agrees that the Protected Party will have the right,
in addition to any other rights or remedies available to it at law or in equity, to obtain
equitable relief, including, without limitation, injunctive relief and specific performance, in the
event of any breach or threatened breach. Further, the parties hereto agree and declare that it may
be impossible to measure in monetary terms the damages that may accrue to any Protected Party by
reason of the Grantee’s violation of this Agreement. Therefore, in the event that a Protected
Party, or any successor in interest thereto, will institute an action or proceeding to enforce the
provisions of this Agreement, each party or other person against whom such action or proceeding is
brought will and hereby does, in advance, waive the claim or defense that there is adequate remedy
at law. In the event such injunctive relief is warranted and obtained by the Protected Party, the
Grantee agrees to pay all costs of that action, including reasonable attorney fees.

     12. Severability. If any one or more of the provisions contained in this Agreement is
conclusively determined to be invalid, illegal or unenforceable in any respect under applicable
law, the validity, legality and enforceability of the remaining provisions of this Agreement will
not, in any way, be ineffective or impaired thereby.

     13. Governing Law. This Agreement is made and entered into in the state of Ohio, and will in
all respects be interpreted, enforced and governed under the laws of that state notwithstanding its
conflict of laws rules. In the event of any dispute or controversy arising under or in connection
with this Agreement, the parties consent to the jurisdiction of the Common Pleas Court of the State

6

 

of Ohio (Summit County) or The United States District Court for the Northern District of Ohio,
Eastern Division.

     14. Other Agreements. The Award Shares and this Agreement will be subject to the terms of any
other written agreements between the Grantee 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 Agreement.

     15. Other Rules. The Award Shares and this Agreement are subject to more rules described in
the Plan.

     16. Assignment. This Agreement will be binding upon the Company and the Grantee, their
respective heirs, personal representatives, executors, administrators, and successors. The Company
may freely assign or transfer this Agreement without the Grantee’s consent.

     17. Acknowledgement; Return of Agreement. This Agreement (and the Award Shares) will be
revoked automatically unless the Grantee signs the acknowledgement appearing at the end of this
Agreement and returns a copy of the signed Agreement to the Committee no later than 30 days after
the Grant Date.

     18. 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 Award Shares, the Award Shares 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
Agreement is also subject to the same requirements and conditions.

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

	 	 	 	 	 
	 	FIRSTMERIT CORPORATION

 	 
	 	By:  	 	 
	 	 	Christopher J. Maurer 	 
	 	 	Executive Vice President, Human Resources 	 
	 

ACKNOWLEDGEMENT

By signing below, the Grantee acknowledges and agrees that:

	 	•	 	A copy of the Plan has been made available to the Grantee;
	 
	 	•	 	The Grantee has received a copy of the Plan’s Prospectus;

7

 

	 	•	 	The Grantee has read and understands and accepts the conditions placed on the Award
Shares, including the clawback provision described in Section 9(F) of this Agreement;
	 
	 	•	 	The Grantee will consent (in the Grantee’s own behalf and in behalf of the Grantee’s
beneficiaries and without any further consideration) to any amendments to the Award to
comply with Section 409A, even if those amendments reduce the value or potential value
of the Award Shares; and
	 
	 	•	 	If the Grantee does not return a signed copy of this Agreement to the address shown
below not later than 30 days after the Grant Date, the Award Shares will be forfeited
and this Agreement shall terminate and be of no further force or effect.
	 
	 	 	 	FirstMerit Corporation

Compensation Department, CAS 82

III Cascade Plaza

Akron, Ohio 44308

	 	 	 	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Print Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

8EX-10.6

 

Exhibit 10.6

FIRSTMERIT CORPORATION

AMENDED AND RESTATED

2006 EQUITY PLAN

DIRECTORS’ NONQUALIFIED STOCK OPTION AWARD AGREEMENT

RELATING TO NONQUALIFIED STOCK OPTION GRANTED TO

                                         ON M/D/YR

     THIS NONQUALIFIED STOCK OPTION AWARD AGREEMENT (“Agreement”) is made and entered into this
XXXX day of XXXXXX, 20 ___(the “Grant Date”), by and between FIRSTMERIT CORPORATION (the
“Company”), and XXXXXX (the “Optionee”).

     WITNESSETH, THAT:

     WHEREAS, the Company maintains the FirstMerit Corporation Amended and Restated 2006 Equity
Plan (the “Plan”), as amended from time to time; and

     WHEREAS, one of purposes of the Plan is to enable nonemployee directors of the Company and its
Related Entities to acquire a proprietary interest (or to increase an existing proprietary
interest) in the Company, and to provide them with a more direct stake in the future and welfare of
the Company and its Related Entities; and

     WHEREAS, the Optionee understands that this Agreement will be revoked retroactively (and will
be of no effect whatsoever), unless the acknowledgement appearing at the end of this Agreement is
signed and returned no later than 30 days after the Grant Date; and

     WHEREAS, although the Company intends that the Option (as defined below) be exempt from the
requirements of Section 409A of the Code (“Section 409A”), the Company has the authority to amend
this Agreement without any further consideration, to comply with Section 409A, even if those
amendments change the terms of this Agreement in a way that reduce the value or potential value of
the Option.

     NOW, THEREFORE, the Company and the Optionee agree as follows:

	1.	 	Number of Shares of Stock Subject to Option.
	 
	 	 	The Company hereby grants to the Optionee a nonqualified stock option (the “Option”) to
purchase ___ [0 to 10,000] shares (the “Option Shares”) of common shares of the
Company, without par value (“Stock”) that are authorized and unissued by exercising this
Option subject to the terms and conditions described in the Plan and this Agreement.
	 
	2.	 	Exercise Price.
	 
	 	 	The Optionee must pay XXXXX dollars and XXXX cents ($XX.XX) to buy each Option Share.

 

 

	3.	 	Option Term.

	 	A.	 	Subject to the Plan and other provisions of this Agreement (including Section
7), the Option Shares may be purchased by exercising all or any part of this Option at
any time beginning six months after the Grant Date and ending on the tenth anniversary
of the Grant Date (the “Option Term”).
	 
	 	B.	 	Notwithstanding the foregoing, the Option will become fully exercisable (and
all underlying Option Shares may be purchased) on the date of any Change in Control.

	4.	 	General Terms and Conditions.
	 
	 	 	This Option is subject to the terms and conditions of the Plan, the terms of which are
incorporated by reference into this Agreement, and all of the terms and conditions described
in this Agreement. Capitalized terms used but not expressly defined in this Agreement will
have the meanings given to them in the Plan.
	 
	5.	 	Exercise of Option.
	 
	 	 	In order to exercise all or any part of this Option, the Optionee must give notice in
writing to the Company of the Optionee’s intention to purchase all or part of the Option
Shares. This notice must be given by completing a copy of the “Exercise Notice” available
from the Company. The Optionee must pay the Exercise Price in full at the time of exercise
in one or a combination of more than one of the following methods: cash, personal check,
bank draft or money order payable to the Company, or through the delivery or attestation of
            shares of Stock that the Optionee has held for at least six months. No Option Shares will
be issued until the full Exercise Price has been paid, and the Optionee will have none of
the rights of a shareholder with respect to those Option Shares until the Option Shares are
issued. Also, if in the opinion of counsel for the Company it is necessary or desirable,
the Optionee must affirm in the Exercise Notice that the Optionee’s present intention is to
acquire the Option Shares for investment, and not with a view to, or for sale in connection
with any distribution thereof.
	 
	6.	 	Transferability of Option.
	 
	 	 	With permission of the Committee, the Optionee may transfer the Option to a revocable inter
vivos trust of which the Optionee is the settlor, or may transfer the Option to any member
of the Optionee’s immediate family, any trust, whether revocable or irrevocable, established
solely for the benefit of the Optionee’s immediate family, any partnership or limited
liability company whose only partners or members are members of the Optionee’s immediate
family or an organization described in Section 501(c)(3) of the Code (“Permissible
Transferees”). Any Option transferred to a Permissible Transferee will continue to be
subject to all of the terms and conditions that applied to the Option before the transfer
and to any other rules prescribed by the Committee. A Permissible Transferee may not
retransfer an Option except by will or the laws of descent and distribution and then only to
another Permissible Transferee.

 

 

	7.	 	Departure from the Board.
	 
	 	 	The Optionee’s right to exercise the Option will be affected by his or her departure from
the Board as follows:

	 	A.	 	If the Optionee’s service on the Board Terminates because of death or
Disability, the Option will fully vest and will remain exercisable until the last day
of the Option Term.
	 
	 	B.	 	If the Optionee’s service on the Board Terminates for any reason other than
death or Disability, the vested portion of the Option will remain exercisable until the
last day of the Option Term and the unvested portion of the Option will be forfeited.

	8.	 	Changes in Capitalization.
	 
	 	 	Subject to the terms of the Plan, if, before the Option is exercised, there is a Stock
dividend or Stock split, recapitalization (including payment of an extraordinary dividend),
merger, consolidation, combination, spin-off, distribution of assets to shareholders,
exchange of shares or other similar corporate change affecting Stock, an appropriate
adjustment will be made to (A) the number of Option Shares, (B) the Exercise Price and (C)
other limitations applicable to the outstanding portion of the Option.
	 
	9.	 	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 or purchase of the Option
Shares, this Option may not be exercised 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 Agreement is also
subject to the same requirements and conditions.
	 
	10.	 	Tax Withholding.
	 
	 	 	The Optionee is solely responsible for meeting any tax liability associated with the grant
or exercise of the Option.
	 
	11.	 	Beneficiary Designation.
	 
	 	 	The Optionee may name a Beneficiary or Beneficiaries (who may be named contingently or
successively) to receive or to exercise the vested portion of the Option that is unpaid or
unexercised at the Optionee’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 Optionee has not made an effective
Beneficiary designation, the deceased Optionee’s Beneficiary will be the Optionee’s
surviving spouse or, if there is no surviving spouse, the deceased Optionee’s estate.

 

 

	12.	 	Severability.
	 
	 	 	If any one or more of the provisions contained in this Agreement is conclusively determined
to be invalid, illegal or unenforceable in any respect under applicable law, the validity,
legality and enforceability of the remaining provisions of this Agreement will not, in any
way, be ineffective or impaired thereby.
	 
	13.	 	Governing Law.
	 
	 	 	This Agreement is made and entered into in the state of Ohio, and will in all respects be
interpreted, enforced and governed under the laws of that state notwithstanding its conflict
of laws rules. In the event of any dispute or controversy arising under or in connection
with this 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.
	 
	14.	 	Other Agreements.
	 
	 	 	The Option and this Agreement will be subject to the terms of any other written agreements
between the Optionee 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 Agreement.
	 
	15.	 	Other Rules.
	 
	 	 	The Option and this Agreement are subject to more rules described in the Plan.
	 
	16.	 	Assignment.
	 
	 	 	This Agreement will be binding upon the Company and the Optionee, their respective heirs,
personal representatives, executors, administrators, and successors. The Company may freely
assign or transfer this Agreement without the Optionee’s consent.
	 
	17.	 	Acknowledgement; Return of Agreement.
	 
	 	 	This Agreement (and the Option) will be revoked automatically unless the Optionee signs the
acknowledgement appearing at the end of this Agreement and returns a copy of the signed
Agreement to the Committee no later than 30 days after the Grant Date.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement this ___ day of
                    , 20 ___.

	 	 	 	 	 
	 	FIRSTMERIT CORPORATION

 	 
	 	By:  	 	 
	 	 	Christopher J. Maurer 	 
	 	Its:  	 Executive Vice President, Human Resources 	 

 

 

	 	 	 	 	 

ACKNOWLEDGEMENT

By signing below, the Optionee acknowledges and agrees that:

	 	•	 	A copy of the Plan has been made available to the Optionee;
	 
	 	•	 	The Optionee has received a copy of the Plan’s Prospectus;
	 
	 	•	 	The Optionee has read and understands and accepts the conditions placed on the
Option, and understands what must be done to exercise the Option;
	 
	 	•	 	The Optionee will consent (in the Optionee’s own behalf and in behalf of the
Optionee’s beneficiaries and without any further consideration) to any amendments of
the Option to comply with Section 409A of the Code, even if those amendments affect the
terms of the Option and reduce its value or potential value; and
	 
	 	•	 	If the Optionee does not return a signed copy of this Agreement to the address shown
below not later than 30 days after the Grant Date, the Option will be forfeited and
this Agreement shall terminate and be of no further force or effect.
	 
	 	 	 	FirstMerit Corporation

Compensation Department, CAS 82

III Cascade Plaza

Akron, Ohio 44308

	 	 	 	 	 	 	 
	 	 	OPTIONEE	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Print Name:	 	 	 
	 

	 	 	 	 

	 	 

 

 

FIRSTMERIT CORPORATION

AMENDED AND RESTATED

2006 EQUITY PLAN

NONQUALIFIED STOCK OPTION EXERCISE NOTICE

FOR NONQUALIFIED STOCK OPTION GRANTED TO

                                         ON                                      
  

Additional copies of this Nonqualified Stock Option Exercise Notice (“Exercise Notice”) (and any
other information the Optionee may need about this Exercise Notice or to exercise the Option) is
available at the address given below.

By completing this Exercise Notice and returning it to the address given below, the Optionee elects
to buy the Option Shares described below. Capitalized terms not defined in this Exercise Notice
have the same meanings as in the applicable Award Agreement.

Note: A separate Exercise Notice must be completed each time an Option is exercised (e.g., if the
Optionee is simultaneously exercising an Option to purchase 200 Option Shares that was granted on
January 1, 2008 and an Option to purchase 100 Option Shares that was granted on January 1, 2009,
the Optionee must complete two Exercise Notices, one for each Option being exercised).

Affected Option Shares: This Exercise Notice relates to the following Option and Option Shares
(fill in the blanks):

     Grant Date of Option:                     

     Number of Option Shares Being Bought With This Exercise Notice:                     

Exercise Price: The Exercise Price due is $__________________

Note: This amount must equal the product of the per share Exercise Price specified in the
applicable Award Agreement multiplied by the number of Option Shares being bought.

Payment of Exercise Price: The Exercise Price will be paid by (check one):

	 	___ 	 	Personal check, bank draft or money order payable to “FirstMerit Corporation.”
	 
	 	___	 	Through the delivery or attestation of shares of Stock that the Optionee has
held for at least six months and which have a fair market value equal to the aggregate
Exercise Price.
	 
	 	___	 	A combination of these two methods (the aggregate amount of cash and value of shares delivered or attested must be equal to the Exercise Price).

 

 

Note:

	 	•	 	If the cash, bank or money order method of exercise is selected, full payment must
be included with this Exercise Notice.
	 
	 	•	 	If the Optionee selects either the delivery or attestation form of paying the
Exercise Price, the Optionee may contact the Company at the address given below for
further information as to how the choice of payment will affect the number of shares
the Optionee will receive.

     Payment of Taxes: Subject to Section 11 of the Award Agreement under which the Option was issued,
the withholding taxes associated with this exercise of the Option will be paid (check one):

	 	___	 	From the Optionee’s payroll checking account.
	 
	 	___	 	By having the Company withhold Option Shares that would otherwise be issued with respect to this exercise.

Optionee’s Acknowledgement of Effect of Exercise

Acknowledgement: By signing below, the Optionee acknowledges and agrees that:

	 	•	 	The Optionee fully understands the effect (including the investment effect) of
exercising the Option and buying the Option Shares and understands that there is no
guarantee that the value of these Option Shares will appreciate or will not depreciate;
	 
	 	•	 	This Exercise Notice will have no effect if it is not returned to the Company at the
address given below before the end of the Option Term specified in the Award Agreement
under which the Option was granted or, to the extent applicable, if full payment of the
Exercise Price is not included; and
	 
	 	•	 	The shares of Stock the Optionee is buying by completing and returning this Exercise
Notice will be issued to the Optionee as soon as administratively practicable. You
will not have any rights as a shareholder of the Company until the shares of Stock are
issued.

	 	 	 
	 

(Optionee’s printed name)

	 	 
	 
	 	 
	 

(Optionee’s signature)

	 	 
	 
	 	 
	 

Date signed:

	 	 

7

 

A signed copy of this Exercise Notice must be sent to the following address no later than the end
of the Option Term:

FirstMerit Corporation

III Cascade Plaza

Akron, Ohio 44308

*****

Acknowledgement of Receipt

A signed copy of the Exercise Notice was received on: ___.

The Optionee:

___ Has effectively exercised the portion of the Option described in the Exercise Notice;
or

___ Has not effectively exercised the portion of the Option described in the Exercise
Notice because

	 	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	describe deficiency	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	 
	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

Note: Keep a copy of this Exercise Notice as part of the Plan’s permanent records.

8

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