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                                                                    EXHIBIT 10.8

                             FIRSTMERIT CORPORATION
                              AMENDED AND RESTATED
                    1994 STOCK OPTION AND INCENTIVE PLAN (SF)
                           Effective October 21, 2000

         1. PLAN PURPOSE. The purpose of the Plan is to promote the long-term
interests of the Corporation and its stockholders by providing a means for
attracting and retaining directors, officers and employees of the Corporation
and its Affiliates. It is intended that designated Options granted pursuant to
the provisions of this Plan to persons employed by the Corporation or its
Affiliates will qualify as Incentive Stock Options. Options granted to persons
who are not employees will be Non-Qualified Stock Options.

         2. DEFINITIONS. The following definitions are applicable to the Plan:

                  "Affiliate" - means any "parent corporation" or "subsidiary
corporation" of the Corporation, as such terms are defined in Section 424(e) and
(f), respectively, of the Code.

                  "Bank" - means FirstMerit Corporation.

                  "Award" - means the grant of an Incentive Stock Option, a
Non-Qualified Stock Option, or of Restricted Stock, or any combination thereof,
as provided in the Plan.

                  "Code" - means the Internal Revenue Code of 1986, as amended.

                  "Committee" - means the Committee referred to in Section 3
hereof.

                  "Continuous Service" - means the absence of any interruption
or termination of service as a director, advisory director, officer or employee
of the Corporation or an Affiliate, except that when used with respect to
persons granted an Incentive Option means the absence of any interruption or
termination of service as an employee of the Corporation or an Affiliate.
Service shall not be considered interrupted in the case of sick leave, military
leave or any other leave of absence approved by the Corporation or in the case
of transfers between payroll locations of the Corporation or between the
Corporation, its parent, its subsidiaries or its successor. With respect to any
advisory director, continuous service shall mean availability to perform such
functions as may be required of the Bank's advisory directors.

                  "Corporation" - means FirstMerit Corporation, an Ohio
corporation.

                  "Disinterested Person" - means any member of the Board of
Directors of the Corporation who within the prior year has not been, and is not
being, granted any awards related to the Shares under this Plan or any other
plan of the Corporation or any of its Affiliates except for awards which (i) are
calculated in accordance with a formula as contemplated in paragraph (c)(ii) of
Rule 16b-3 ("Rule 16b-3") under the Securities Exchange Act of 1934; (ii) result
from participation in an ongoing securities acquisition plan meeting the
conditions of paragraph (d)(2) of Rule 16b-3; or, (iii) arise from an election
by a director to receive all or part of his board fees in

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securities. No recipient of a stock award granted pursuant to Section 21 hereof
shall be deemed not to be a Disinterested Person solely by reason of such grant.

                  "Employee" - means any person, including an officer or
director, who is employed by the Corporation or any Affiliate.

                  "ERISA" - means the Employee Retirement Income Security Act of
1974, as amended.

                  "Exercise Price" - means (i) in the case of an Option, the
price per Share at which the Shares subject to such Option may be purchased upon
exercise of such Option and (ii) in the case of a Right, the price per Share
(other than the Market Value per Share on the date of exercise and the Offer
Price per Share as defined in Section 10 hereof) which, upon grant, the
Committee determines shall be utilized in calculating the aggregate value which
a Participant shall be entitled to receive pursuant to Sections 9, 10 or 13
hereof upon exercise of such Right.

                  "FirstMerit" - means FirstMerit Corporation, an Ohio
corporation.

                  "Incentive Stock Option" - means an option to purchase Shares
granted by the Committee pursuant to Section 6 hereof which is subject to the
limitations and restrictions of Section 8 hereof and is intended to qualify
under Section 422 of the Code.

                  "Market Value" - means the average of the high and low quoted
sales price on the date in question (or, if there is no reported sale on such
date, on the last preceding date on which any reported sale occurred) of a Share
on the Composite Tape for the New York Stock Exchange-Listed Stocks, or, if on
such date the Shares are not quoted on the Composite Tape, on the New York Stock
Exchange, or, if the Shares are not listed or admitted to trading on such
Exchange, on the principal United States securities exchange registered under
the Securities Exchange Act of 1934 on which the Shares are listed or admitted
to trading, or, if the Shares are not listed or admitted to trading on any such
exchange, the mean between the closing high bid and low asked quotations with
respect to a Share on such date on the National Association of Securities
Dealers, Inc., Automated Quotations System, or any similar system then in use,
or, if no such quotations are available, the fair market value on such date of a
Share as the Committee shall determine.

                  "Non-Qualified Stock Option" - means an option to purchase
Shares granted by the Committee pursuant to Section 6 hereof, which option is
not intended to qualify under Section 422(b) of the Code.

                  "Option" - means an Incentive Stock Option or a Non-Qualified
Stock Option.

                  "Participant" - means any officer or employee of the
Corporation or any Affiliate who is selected by the Committee to receive an
Award and any director or advisory director of the Corporation who is granted an
Award pursuant to Section 21 hereof.

                  "Plan" - means the FirstMerit Corporation 1994 Stock Option
and Incentive Plan

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(SF).

                  "Restricted Period" - means the period of time selected by the
Committee for the purpose of determining when restrictions are in effect under
Section 9 hereof with respect to Restricted Stock awarded under the Plan.

                  "Restricted Stock" - means Shares which have been contingently
awarded to a Participant by the Committee subject to the restrictions referred
to in Section 9 hereof, so long as such restrictions are in effect.

                  "Right" - means a Limited Stock Appreciation Right or a Stock
Appreciation Right.

                  "Shares" - means the shares of common stock of the
Corporation.

                  "Senior Officer" - means the Corporation's president,
principal financial officer, or principal accounting officer, any vice president
of the Corporation in charge of a principal business unit, division or function
(such as sales, administration or finance), any other officer who performs a
policy-making function, or any other person who performs similar policy-making
functions for the Corporation. Officers of the Corporation's Affiliates shall be
deemed Senior Officers of the Corporation if they perform such policy-making
functions for the Corporation.

                  "Ten Percent Beneficial Owner" - means the beneficial owner of
more than ten percent of any class of the Corporation's equity securities
registered pursuant to Section 10 of the Securities Exchange Act of 1934.

         3. ADMINISTRATION. The Plan shall be administered by a Committee
consisting of two or more members, each of whom shall be a Disinterested Person
and each of whom shall be an "outside director," as set forth in Section 162(m)
of the Code and defined in the regulations promulgated thereunder. The members
of the Committee shall be appointed by the Board of Directors of the
Corporation. Except as limited by the express provisions of the Plan, the
Committee shall have sole and complete authority and discretion to (i) select
Participants and grant Awards; (ii) determine the number of Shares to be subject
to types of Awards generally, as well as to individual Awards granted under the
Plan; (iii) determine the terms and conditions upon which Awards shall be
granted under the Plan; (iv) prescribe the form and terms of instruments
evidencing such grants; and (v) establish from time to time regulations for the
administration of the Plan, interpret the Plan, and make all determinations
deemed necessary or advisable for the administration of the Plan. The Committee
may maintain, and update from time to time as appropriate, a list designating
selected directors as Disinterested Persons. The purpose of such list shall be
to evidence the status of such individuals as Disinterested Persons, and the
Board of Directors may appoint to the Committee any individual actually
qualifying as a Disinterested Person, regardless of whether identified as such
on said list.

         A majority of the Committee shall constitute a quorum, and the acts of
a majority of the

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members present at any meeting at which a quorum is present, or acts approved in
writing by a majority of the Committee without a meeting, shall be acts of the
Committee.

         4. PARTICIPATION IN COMMITTEE AWARDS. The Committee may select from
time to time Participants in the Plan from those directors, officers and
employees (other than Disinterested Persons), of the Corporation or its
Affiliates who, in the opinion of the Committee, have the capacity for
contributing to the successful performance of the Corporation or its Affiliates.

         5. SHARES SUBJECT TO PLAN. Subject to adjustment by the operation of
Section 10 hereof, the maximum number of Shares with respect to which Awards may
be made under the Plan is 10% of the total Shares issued in the Bank's
conversion to the capital stock form. The Shares with respect to which Awards
may be made under the Plan may be either authorized and unissued shares or
issued shares heretofore or hereafter reacquired and held as treasury shares.
Shares which are subject to Related Rights and Related Options shall be counted
only once in determining whether the maximum number of Shares with respect to
which Awards may be granted under the Plan has been exceeded. An Award shall not
be considered to have been made under the Plan with respect to any Option which
terminates or with respect to Restricted Stock which is forfeited, and new
Awards may be granted under the Plan with respect to the number of Shares as to
which such termination or forfeiture has occurred.

         6. GENERAL TERMS AND CONDITIONS OF OPTIONS. The Committee shall have
full and complete authority and discretion, except as expressly limited by the
Plan, to grant Options and to provide the terms and conditions (which need not
be identical among Participants) thereof. In particular, the Committee shall
prescribe the following terms and conditions: (i) the Exercise Price of any
Option, which shall not be less than the Market Value per Share at the date of
grant of such Option, (ii) the number of Shares subject to, and the expiration
date of, any Option, which expiration date shall not exceed ten years from the
date of grant, (iii) the manner, time and rate (cumulative or otherwise) of
exercise of such Option, and (iv) the restrictions, if any, to be placed upon
such Option or upon Shares which may be issued upon exercise of such Option. The
Committee may, as a condition of granting any Option, require that a Participant
agree not to thereafter exercise one or more Options previously granted to such
Participant. Notwithstanding the foregoing, no individual shall be granted
Awards in any calendar year with respect to more than 25% of the total shares
subject to the Plan.

         7. EXERCISE OF OPTIONS.

                  (a) Except as provided herein, an Option granted under the
Plan shall be exercisable during the lifetime of the Participant to whom such
Option was granted only by such Participant and, except as provided in
paragraphs (c) and (d) of this Section 7, no such Option may be exercised unless
at the time such Participant exercises such Option, such Participant has
maintained Continuous Service since the date of grant of such Option.

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                  (b) To exercise an Option under the Plan, the Participant to
whom such Option was granted shall give written notice to the Corporation in
form satisfactory to the Committee (and, if partial exercises have been
permitted by the Committee, by specifying the number of Shares with respect to
which such Participant elects to exercise such Option) together with full
payment of the Exercise Price. The date of exercise shall be the date on which
such notice is received by the Corporation. Payment, if any is required, shall
be made either (i) in cash (including check, bank draft or money order) or (ii)
if permitted by the Committee, by delivering (A) Shares already owned by the
Participant and having a fair market value equal to the applicable exercise
price, such fair market value to be determined in such appropriate manner as may
be provided by the Committee or as may be required in order to comply with or to
conform to requirements of any applicable laws or regulations, or (B) a
combination of cash and such Shares.

                  (c) If a Participant to whom an Option was granted shall cease
to maintain Continuous Service for any reason (including total or partial
disability and normal or early retirement, but excluding death and termination
of employment by the Corporation or any Affiliate for cause), such Participant
may, but only within the period of three months immediately succeeding such
cessation of Continuous Service and in no event after the expiration date of
such Option, exercise such Option to the extent that such Participant was
entitled to exercise such Option at the date of such cessation, provided,
however, that such right of exercise after cessation of Continuous Service shall
not be available to a Participant if the Committee otherwise determines and so
provides in the applicable instrument or instruments evidencing the grant of
such Option. If the Continuous Service of a Participant to whom an Option was
granted by the Corporation is terminated for cause, all rights under any Option
of such Participant shall expire immediately upon the giving to the Participant
of notice of such termination.

                  (d) In the event of the death of a Participant while in the
Continuous Service of the Corporation or an Affiliate or within the three month
period referred to in paragraph (c) of this Section 7, the person to whom any
Option held by the Participant at the time of his death is transferred by will
or the laws of descent and distribution, or in the case of an Award other than
an Incentive Stock Option, pursuant to a qualified domestic relations order, as
defined in the Code or Title 1 of ERISA or the rules thereunder may, but only to
the extent such Participant was entitled to exercise such Option immediately
prior to his death, exercise such Option at any time within a period of one year
succeeding the date of death of such Participant, but in no event later than ten
years from the date of grant of such Option. Following the death of any
Participant to whom an Option was granted under the Plan, irrespective of
whether any Related Right shall have theretofore been granted to the Participant
or whether the person entitled to exercise such Related Right desires to do so,
the Committee may, as an alternative means of settlement of such Option, elect
to pay to the person to whom such Option is transferred by will or by the laws
of descent and distribution, or in the case of an Option other than an Incentive
Stock Option, pursuant to a qualified domestic relations order, as defined in
the Code or Title I of ERISA or the rules thereunder, the amount by which the
Market Value per Share on the date of exercise of such Option shall exceed the
Exercise Price of such Option, multiplied by the number of Shares with respect
to which such Option is properly exercised. Any such settlement of an Option
shall be considered an exercise of such Option for all purposes of the Plan.

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         8. INCENTIVE STOCK OPTIONS. Incentive Stock Options may be granted only
to Participants who are Employees. Any provision of the Plan to the contrary
notwithstanding, (i) no Incentive Stock Option shall be granted more than ten
years from the date the Plan is adopted by the Board of Directors of the
Corporation and no Incentive Stock Option shall be exercisable more than ten
years from the date such Incentive Stock Option is granted, (ii) the Exercise
Price of any Incentive Stock Option shall not be less than the Market Value per
Share on the date such Incentive Stock Option is granted, (iii) any Incentive
Stock Option shall not be transferable by the Participant to whom such Incentive
Stock Option is granted other than by will or the laws of descent and
distribution, and shall be exercisable during such Participant's lifetime only
by such Participant, (iv) no Incentive Stock Option shall be granted to any
individual who, at the time such Incentive Stock Option is granted, owns stock
possessing more than ten percent of the total combined voting power of all
classes of stock of the Corporation or any Affiliate unless the Exercise Price
of such Incentive Stock Option is at least 110 percent of the Market Value per
Share at the date of grant and such Incentive Stock Option is not exercisable
after the expiration of five years from the date such Incentive Stock Option is
granted, and (v) the aggregate Market Value (determined as of the time any
Incentive Stock Option is granted) of the Shares with respect to which Incentive
Stock Options are exercisable for the first time by a Participant in any
calendar year shall not exceed $100,000.

         9. TERMS AND CONDITIONS OF RESTRICTED STOCK. The Committee shall have
full and complete authority, subject to the limitations of the Plan, to grant
awards of Restricted Stock and, in addition to the terms and conditions
contained in paragraphs (a) through (f) of this Section 9, to provide such other
terms and conditions (which need not be identical among Participants) in respect
of such Awards, and the vesting thereof, as the Committee shall determine and
provide in the agreement referred to in paragraph (d) of this Section 9.

                  (a) At the time of an award of Restricted Stock, the Committee
shall establish for each Participant a Restricted Period of not less than six
months during which or at the expiration of which, as the Committee shall
determine and provide in the agreement referred to in paragraph (d) of this
Section 9, the Shares awarded as Restricted Stock shall vest. Subject to any
such other terms and conditions as the Committee shall provide, shares of
Restricted Stock may not be sold, assigned, transferred, pledged or otherwise
encumbered by the Participant, except as hereinafter provided, during the
Restricted Period. Except for such restrictions, and subject to paragraphs (c),
(d) and (e) of this Section 9 and Section 10 hereof, the Participant as owner of
such shares shall have all the rights of a stockholder, including but not
limited to the right to receive all dividends paid on such shares and the right
to vote such shares. The Committee shall have the authority, in its discretion,
to accelerate the time at which any or all of the restrictions shall lapse with
respect to any shares of Restricted Stock prior to the expiration of the
Restricted Period with respect thereto, or to remove any or all of such
restrictions, whenever it may determine that such action is appropriate by
reason of changes in applicable tax or other laws or other changes in
circumstances occurring after the commencement of such Restricted Period.

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                  (b) Except as provided in Section 12 hereof, if a Participant
ceases to maintain Continuous Service for any reason (other than death or total
or partial disability) unless the Committee shall otherwise determine, all
shares of Restricted Stock theretofore awarded to such Participant and which at
the time of such termination of Continuous Service are subject to the
restrictions imposed by paragraph (a) of this Section 9 shall upon such
termination of Continuous Service be forfeited and returned to the Corporation.
Unless the Committee shall have provided in the agreement referred to in
paragraph (d) of this Section 9 for a ratable lapse of restrictions with respect
to an award of shares of Restricted Stock during the Restricted Period, if a
Participant ceases to maintain Continuous Service by reason of death or total or
partial disability, such portion of such shares of Restricted Stock awarded to
such Participant which at the time of such termination of Continuous Service are
subject to the restrictions imposed by paragraph (a) of this Section 9 as shall
be equal to the portion of the Restricted Period with respect to such shares
which shall have elapsed at the time of such termination of Continuous Service
shall be free of restrictions and shall not be forfeited.

                  (c) Each certificate in respect of shares of Restricted Stock
awarded under the Plan shall be registered in the name of the Participant and
deposited by the Participant, together with a stock power endorsed in blank,
with the Corporation and shall bear the following (or a similar) legend:

                  "The transferability of this certificate and the shares of
         stock represented hereby are subject to the terms and conditions
         (including forfeiture) contained in the FirstMerit Corporation 1994
         Stock Option and Incentive Plan (SF) and an Agreement entered into
         between the registered owner and FirstMerit Corporation. Copies of such
         Plan and Agreement are on file in the offices of the Secretary of
         FirstMerit Corporation, III Cascade Plaza, Akron, Ohio 44308."

                  (d) At the time of an award of shares of Restricted Stock, the
Participant shall enter into an Agreement with the Corporation in a form
specified by the Committee, agreeing to the terms and conditions of the award
and such other matters as the Committee shall in its sole discretion determine.

                  (e) At the time of an award of shares of Restricted Stock, the
Committee may, in its discretion, determine that the payment to the Participant
of dividends declared or paid on such shares, or specified portion thereof, by
the Corporation shall be deferred until the earlier to occur of (i) the lapsing
of the restrictions imposed under paragraph (a) of this Section 9 or (ii) the
forfeiture of such shares under paragraph (b) of this Section 9, and shall be
held by the Corporation for the account of the Participant until such time. In
the event of such deferral, there shall be credited at the end of each year (or
portion thereof) interest on the amount of the account at the beginning of the
year at a rate per annum as the Committee, in its discretion, may determine.
Payment of deferred

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dividends, together with interest accrued thereon as aforesaid, shall be made
upon the earlier to occur of the events specified in (i) and (ii) of the
immediately preceding sentence.

                  (f) At the expiration or lapse of the restrictions imposed by
paragraph (a) of this Section 9, the Corporation shall redeliver to the
Participant (or where the relevant provision of paragraph (b) of this Section 9
applies in the case of a deceased Participant, to his legal representative,
beneficiary or heir) the certificate(s) and stock power deposited with it
pursuant to paragraph (c) of this Section 9 and the Shares represented by such
certificate(s) shall be free of the restrictions referred to in paragraph (a) of
this Section 9.

         10. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION. In the event of any
change in the outstanding Shares subsequent to the effective date of the Plan by
reason of any reorganization, recapitalization, stock split, stock dividend,
combination or exchange of shares, merger, consolidation or any change in the
corporate structure or Shares of the Corporation, the maximum aggregate number
and class of shares as to which Awards may be granted under the Plan and the
number and class of shares with respect to which Awards theretofore have been
granted under the Plan shall be appropriately adjusted by the Committee, whose
determination shall be conclusive. Any shares of stock or other securities
received, as a result of any of the foregoing, by a Participant with respect to
Restricted Stock shall be subject to the same restrictions and the
certificate(s) or other instruments representing or evidencing such shares or
securities shall be legended and deposited with the Corporation in the manner
provided in Section 9 hereof.

         11. EFFECT OF MERGER. In the event of any merger, consolidation or
combination of the Corporation (other than a merger, consolidation or
combination in which the Corporation is the continuing entity and which does not
result in the outstanding Shares being converted into or exchanged for different
securities, cash or other property, or any combination thereof) pursuant to a
plan or agreement the terms of which are binding upon all stockholders of the
Corporation (except to the extent that dissenting stockholders may be entitled,
under statutory provisions or provisions contained in the certificate of
incorporation, to receive the appraised or fair value of their holdings), any
Participant to whom an Option has been granted at least 6 months prior to such
event shall have the right (subject to the provisions of the Plan and any
limitation applicable to such Option), thereafter and during the term of each
such Option, to receive upon exercise of any such Option an amount equal to the
excess of the fair market value on the date of such exercise of the securities,
cash or other property, or combination thereof, receivable upon such merger,
consolidation or combination in respect of a Share over the Exercise Price of
such Right or Option, multiplied by the number of Shares with respect to which
such Option shall have been exercised. Such amount may be payable fully in cash,
fully in one or more of the kind or kinds of property payable in such merger,
consolidation or combination, or partly in cash and partly in one or more of
such kind or kinds of property, all in the discretion of the Committee. Unless
the Committee shall have provided otherwise in the agreement referred to in
paragraph (d) of Section 9 hereof, in the event of any such merger,
consolidation or combination any Restricted Period shall lapse with respect to
Shares of Restricted Stock awarded at least six months prior to such event, all
such Shares shall be fully vested in the Participants to whom such Shares were
awarded, and the holders of such Shares shall be

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eligible to receive in respect thereof the full amount receivable per Share in
such merger, consolidation or combination.

         12. EFFECT OF CHANGE IN CONTROL. The term "Change in Control" shall
mean the occurrence of any one of the following events:

                  (a) individuals who, on April 19, 2000, constitute the Board
(the "Incumbent Directors") cease for any reason to constitute at least a
majority of the Board, provided that any person becoming a director subsequent
to April 19, 2000 whose election or nomination for election was approved by a
vote of at least 2/3rds of the Incumbent Directors then on the Board (either by
a specific vote or by approval of the proxy statement of the Company in which
such person is named as a nominee for director, without written objection to
such nomination) shall be an Incumbent Director; provided, however, that no
director of the Company initially as a result of an actual or threatened
election contest with respect to directors or any other actual or threatened
solicitation of proxies or consents by or on behalf of any person other than the
Board shall be deemed to be an Incumbent Director;

                  (b) any "person" (as such term is defined in Section 3(a)(9)
of the Securities Exchange Act of 1934 (the "Exchange Act") and as used in
Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a "beneficial
owner" (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing 25% or more of the
combined voting power of the Company's then outstanding securities eligible to
vote for the election of the Board (the "Company Voting Securities"); provided,
however, that the event described in this paragraph (b) shall not be deemed to
be a Change in Control by virtue of any of the following acquisitions:

                           (i)  by the Company or any Subsidiary,

                           (ii) by any employee benefit plan sponsored or
                  maintained by the Company or any Subsidiary,

                           (iii) by any underwriter temporarily holding
                  securities pursuant to an offering of such securities,

                           (iv) pursuant to a Non-Control Transaction (as
                  defined in paragraph (c)), or

                           (v) a transaction (other than one described in (c)
                  below) in which Company Voting Securities are acquired from
                  the Company, if a majority of the Incumbent Directors then on
                  the Board approve a resolution providing expressly that the
                  acquisition pursuant to this clause (v) does not constitute a
                  Change in Control under this paragraph (b);

                  (c) the consummation of a merger, consolidation, statutory
share exchange or similar form of corporate transaction involving the Company or
any of its Subsidiaries that requires the

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approval of the Company's shareholders, whether for such transaction or the
issuance of securities in the transaction (a "Business Combination"), unless
immediately following such Business Combination:

                           (i) more than 50% of the total voting power of (x)
                  the corporation resulting from such Business Combination (the
                  "Surviving Entity"), or (y) if applicable, the ultimate parent
                  corporation that directly or indirectly has beneficial
                  ownership of 100% of the voting securities eligible to elect
                  directors ("Total Voting Power") of the Surviving Entity (the
                  "Parent Entity"), is represented by Company Voting Securities
                  that were outstanding immediately prior to such Business
                  Combination (or, if applicable, shares into which such Company
                  Voting Securities were converted pursuant to such Business
                  Combination), and such voting power among the holders thereof
                  is in substantially the same proportion as the voting power of
                  such Company Voting Securities among the holders thereof
                  immediately prior to the Business Combination,

                           (ii) no person (other than any employee benefit plan
                  (or related trusts) sponsored or maintained by the Surviving
                  Entity or the Parent Entity), is or becomes the beneficial
                  owner, directly or indirectly, of 25% or more of the Total
                  Voting Power of the outstanding voting securities eligible to
                  elect directors of the Parent Entity (or, if there is no
                  Parent Entity, the Surviving Entity), and

                           (iii) at least a majority of the members of the board
                  of directors of the Parent Entity (or, if there is no Parent
                  Entity, the Surviving Entity) following the consummation of
                  the Business Combination were Incumbent Directors at the time
                  of the Board's approval of the execution of the initial
                  agreement providing for such Business Combination (any
                  Business Combination which satisfies all of the criteria
                  specified in (i), (ii) and (iii) above shall be deemed to be a
                  "Non-Control Transaction"); or

                  (d) the shareholders of the Company approve a plan of complete
liquidation or dissolution of the Company.

         Notwithstanding the foregoing, a Change in Control of the Company shall
not be deemed to occur solely because any person acquires beneficial ownership
of more than 25% of the Company Voting Securities as a result of the acquisition
of Company Voting Securities by the Company which reduces the number of Company
Voting Securities outstanding; provided, that if after such acquisition by the
Company such person becomes the beneficial owner of additional Company Voting
Securities that increases the percentage of outstanding Company Voting
Securities beneficially owned by such person by more than one percent, a Change
in Control of the Company shall then occur.

         If the Continuous Service of any Participant of the Corporation or any
Affiliate is involuntarily terminated for whatever reason, at any time within
eighteen months after a change in

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control, unless the Committee shall have otherwise provided in the agreement
referred to in paragraph (d) of Section 9 hereof, any Restricted Period with
respect to Restricted Stock theretofore awarded to such Participant shall lapse
upon such termination and all Shares awarded as Restricted Stock shall become
fully vested in the Participant to whom such Shares were awarded. If a tender
offer or exchange offer for Shares (other than such an offer by the Corporation)
is commenced, or if the event specified in clause (iii) above shall occur,
unless the Committee shall have otherwise provided in the instrument evidencing
the grant of an Option or Stock Appreciation Right, all Options and Stock
Appreciation Rights theretofore granted and not fully exercisable shall become
exercisable in full upon the happening of such event and shall remain so
exercisable for a period of sixty days following such date, after which they
shall revert to being exercisable in accordance with their terms; provided,
however, that no Option or Stock Appreciation Right shall be exercisable by a
director, Senior Officer or Ten Percent Beneficial Owner of the Corporation
within six months of the date of grant of such Option or Stock Appreciation
Right and no Option or Stock Appreciation Right which has previously been
exercised or otherwise terminated shall become exercisable.

         13. ASSIGNMENTS AND TRANSFERS. No Award nor any right or interest of a
Participant under the Plan in any instrument evidencing any Award under the Plan
may be assigned, encumbered or transferred except, in the event of the death of
a Participant, by will or the laws of descent and distribution or in the case of
Awards other than Incentive Stock Options pursuant to a qualified domestic
relations order, as defined in the Code or Title I of ERISA or the rules
thereunder.

         14. EMPLOYEE RIGHTS UNDER THE PLAN. No director, officer or employee
shall have a right to be selected as a Participant nor, having been so selected,
to be selected again as a Participant and no director, officer, employee or
other person shall have any claim or right to be granted an Award under the Plan
or under any other incentive or similar plan of the Corporation or any
Affiliate. Neither the Plan nor any action taken thereunder shall be construed
as giving any employee any right to be retained in the employ of the Corporation
or any Affiliate.

         15. DELIVERY AND REGISTRATION OF STOCK. The Corporation's obligation to
deliver Shares with respect to an Award shall, if the Committee so requests, be
conditioned upon the receipt of a representation as to the investment intention
of the Participant to whom such Shares are to be delivered, in such form as the
Committee shall determine to be necessary or advisable to comply with the
provisions of the Securities Act of 1933 or any other Federal, state or local
securities legislation or regulation. It may be provided that any representation
requirement shall become inoperative upon a registration of the Shares or other
action eliminating the necessity of such representation under such Securities
Act or other securities legislation. The Corporation shall not be required to
deliver any Shares under the Plan prior to (i) the admission of such shares to
listing on any stock exchange on which Shares may then be listed, and (ii) the
completion of such registration or other qualification of such Shares under any
state or Federal law, rule or regulation, as the Committee shall determine to be
necessary or advisable.

         This Plan is intended to comply with Rule 16b-3 under the Securities
Exchange Act of 1934. Any provision of the Plan which is inconsistent with said
Rule shall, to the extent of such inconsistency, be inoperative and shall not
affect the validity of the remaining provisions of the Plan.

                                       11
<PAGE>   12

         16. WITHHOLDING TAX. Upon the termination of the Restricted Period with
respect to any shares of Restricted Stock (or at any such earlier time, if any,
that an election is made by the Participant under Section 83(b) of the Code, or
any successor provision thereto, to include the value of such shares in taxable
income), the Corporation shall retain a sufficient number of shares held by it
to cover the amount required to be withheld. The Corporation shall have the
right to deduct from all dividends paid with respect to shares of Restricted
Stock the amount of any taxes which the Corporation is required to withhold with
respect to such dividend payments.

         The Corporation shall have the right to deduct from all amounts paid in
cash with respect to the exercise of a Right under the Plan any taxes required
by law to be withheld with respect to such cash payments. Where a Participant or
other person is entitled to receive Shares pursuant to the exercise of an Option
pursuant to the Plan, the Corporation shall have the right to require the
Participant or such other person to pay the Corporation the amount of any taxes
which the Corporation is required to withhold with respect to such Shares.

         17. AMENDMENT OR TERMINATION. The Board of Directors of the Corporation
may amend, suspend or terminate the Plan or any portion thereof at any time, but
(except as provided in Section 10 hereof) no amendment shall be made without
approval of the stockholders of the Corporation which shall (i) materially
increase the aggregate number of Shares with respect to which Awards may be made
under the Plan, (ii) materially increase the aggregate number of Shares which
may be subject to Awards to Participants who are not Employees or (iii) change
the class of persons eligible to participate in the Plan; provided, however,
that no such amendment, suspension or termination shall impair the rights of any
Participant, without his consent, in any Award theretofore made pursuant to the
Plan.

         18. EFFECTIVE DATE AND TERM OF PLAN. The Plan became effective upon its
approval by the stockholders of the Corporation. It shall continue in effect for
a term of ten years unless sooner terminated under Section 17 hereof.

         19. INITIAL GRANT. By, and simultaneously with, the approval of the
Plan by the stockholders of the Corporation, each member of the Board of
Directors of the Corporation at the time of the Bank's conversion to stock form,
who was not an Employee, was granted a ten year, Non-Qualified Stock Option to
purchase a number of shares equal to .50% of the shares issued in the conversion
at an Exercise Price per share equal to the Market Value on the date of the
grant. All options shall vest ratably over a five year period, beginning one
year from the date of stockholder approval.

         [THE FOLLOWING PROVISION WAS TERMINATED AT THE EFFECTIVE TIME OF THE
MERGER BETWEEN FIRSTMERIT CORPORATION AND SECURITY FIRST CORP.] In addition,
each non-employee director of the Corporation elected after the completion of
the Bank's conversion to stock form is hereby granted as of the date he or she
is elected and qualified ("election date") a ten year Non-Qualified Stock

                                       12
<PAGE>   13

Option to Purchase a number of shares equal to .50% of the shares issued in the
conversion at the applicable Market Value on the election date. Each such Option
shall be evidenced by a Non- Qualified Stock Option Agreement in a form approved
by the Board of Directors and shall be subject in all respects to the terms and
conditions of this Plan, which are controlling.

         All options granted pursuant to this Section 19 shall be rounded down
to the nearest whole share to the extent necessary to ensure that no options to
purchase stock representing fractional shares are granted.

         Notwithstanding anything else in this Plan to the contrary, to the
extent that the Plan provides for formula awards, as defined in Rule
16b-3(c)(2)(ii) under the Securities Exchange Act of 1934, such provisions may
not be amended more than once every six months, other than to comport with
changes in the Code, ERISA or the rules thereunder.

                                       13<PAGE>   1
                                                                    EXHIBIT 10.9

                             FIRSTMERIT CORPORATION

                              AMENDED AND RESTATED
                         1989 STOCK INCENTIVE PLAN (SB)
                           Effective October 21, 2000

<PAGE>   2

                             FIRSTMERIT CORPORATION
                              AMENDED AND RESTATED

                         1989 STOCK INCENTIVE PLAN (SB)
                           Effective October 21, 2000
<TABLE>
<CAPTION>

                                                 TABLE OF CONTENTS

                                                                                                               PAGE
<S>                                                                                                            <C>
1.       Establishment, Purpose, and Effective Date of Plan.......................................................1
         1.1      Establishment ..................................................................................1
         1.2      Purpose ........................................................................................1
         1.3      Effective Date .................................................................................1

2.       Definitions .............................................................................................1
         2.1      Definitions ....................................................................................1
         2.2      Gender and Number ..............................................................................3

3.       Eligibility and Participation ...........................................................................3
         3.1      Eligibility and Participation ..................................................................3
         3.2      Eligible Directors .............................................................................3

4.       Administration ..........................................................................................3

5.       Stock Subject to Plan ...................................................................................3
         5.1      Number .........................................................................................3
         5.2      Unused Stock ...................................................................................4
         5.3      Adjustment in Capitalization ...................................................................4

6.       Duration of Plan  .......................................................................................4

7.       Stock Options ...........................................................................................4
         7.1      Grant of Options Other than Director Stock Options .............................................4
         7.2      Grant of Director Stock Options ................................................................5
         7.3      Option Agreement ...............................................................................5
         7.4      Option Price ...................................................................................5
         7.5      Duration of Options ............................................................................5
         7.6      Exercise of Options ............................................................................6
         7.7      Payment ........................................................................................6
         7.8      Restrictions on Stock Transferability ..........................................................6
         7.9      Termination of Employment for Specific Reasons .................................................6
         7.10     Termination of Employment For Other Than Section 7.9 Reasons ...................................6
         7.11     Termination of Eligible Director Shares ........................................................7
         7.12     Nontransferability of Options ..................................................................7
</TABLE>

                                        i

<PAGE>   3

<TABLE>
<CAPTION>

                                                                                                               PAGE
<S>                                                                                                             <C>
8.       Restricted Stock Awards .................................................................................7
         8.1      Grant of Restricted Stock ......................................................................7
         8.2      Transferability ................................................................................7
         8.3      Other Restrictions .............................................................................7
         8.4      Certificate Legend .............................................................................7
         8.5      Removal of Restrictions ........................................................................8
         8.6      Voting Rights ..................................................................................8
         8.7      Dividends and Other Distributions ..............................................................8
         8.8      Termination of Employment ......................................................................8

9.       Beneficiary Designation .................................................................................8

10.      Rights of Employees .....................................................................................8
         10.1     Employment .....................................................................................8
         10.2     Participation ..................................................................................8

11.      Change in Control .......................................................................................9
         11.1     In General .....................................................................................9
         11.2     Limitation on Payments .........................................................................9
         11.3     Definition .....................................................................................9

12.      Amendment, Modification, and Termination of Plan .......................................................11

13.      Tax Withholding ........................................................................................11

14.      Indemnification ........................................................................................12

15.      Requirements of Law ....................................................................................13
         15.1     Requirements of Law ...........................................................................13
         15.2     Governing Law .................................................................................13
</TABLE>

                                       ii

<PAGE>   4

                             FIRSTMERIT CORPORATION
                              AMENDED AND RESTATED
                         1989 STOCK INCENTIVE PLAN (SB)
                           Effective October 21, 2000

1.       ESTABLISHMENT, PURPOSE AND EFFECTIVE DATE OF PLAN

         1.1 ESTABLISHMENT. FirstMerit Corporation, an Ohio corporation
("Corporation") established the "1989 Stock Incentive Plan (SB)" ("Plan") for
key employees of the Corporation and its subsidiaries and for directors of the
Corporation who are not employees of the Corporation or any of its subsidiaries.
The Plan permits the grant of "Director Stock Options" to such directors and the
grant of "Stock Options," and "Restricted Stock Awards," (all as defined below)
to such employees.

         1.2 PURPOSE. The purpose of the Plan is to advance the interests of the
Corporation by encouraging and providing for the acquisition of an equity
interest in the Corporation by directors of the Corporation and key employees of
the Corporation and its subsidiaries and by enabling the Corporation to attract
and retain the services of such directors and key employees upon whose judgment,
interest, and special effort the successful conduct of its operations is largely
dependent.

         1.3 EFFECTIVE DATE. The Plan shall become effective as of the date of
its adoption by the Board of Directors of the Corporation, subject to
ratification by the shareholders of the Corporation within twelve months of the
adoption date.

2. DEFINITIONS

         2.1 DEFINITIONS. Whenever used herein, the following terms shall have
their meanings set forth below:

                  "Award" means any Option, Stock Appreciation Right, Restricted
Stock Awards, Performance Share, or Performance Award.

                  "Board" means the Board of Directors of the Corporation.

                  "Code" means the Internal Revenue Code of 1986, as amended.

                  "Committee" means the Compensation Committee of FirstMerit
Corporation's Board of Directors which shall consist of three or more directors
appointed by such Board. These directors shall be "disinterested persons" within
the meaning of Rule 16b-3 of the Securities Exchange Act of 1934.

                  "Corporation" means FirstMerit Corporation, a bank holding
company under the Bank Holding Company Act of 1956 headquartered in Akron, Ohio,
and its successors.

                                       1
<PAGE>   5

                  "Disability" means disability as determined by the Committee.

                  "Director Stock Option" means an Option granted to an Eligible
Director. Each Director Stock Option shall be a nonqualified stock option the
grant of which is not intended to fall under the provisions of Section 422A of
the Code.

                  "Eligible Director" means any statutory director of the
Corporation who is not an employee of the Corporation or any of its
subsidiaries.

                  "Fair Market Value" means the closing price of the Stock as
reported on the principal United States securities exchange registered under the
Exchange Act on which such Stock is listed, or, if such Stock is not listed on
any such exchange, the highest closing bid quotation with respect to a share of
such Stock on the National Association of Securities Dealers, Inc. Automated
Quotations System or any substantially equivalent system then in use on a
particular date. In the event that there are no Stock transactions on such date,
the Fair Market Value shall be determined as of the immediately preceding date
on which there were Stock transactions.

                  "FirstMerit Corporation" means FirstMerit Corporation, an Ohio
corporation.

                  "Option" means the right to purchase Stock at a stated price
for a specified period of time. For purposes of the Plan an Option, other than a
Director Stock Option, may be either (i) an incentive stock option within the
meaning of Section 422A of the Code or (ii) a nonqualified stock option whose
grant is intended to fall under the provisions of Section 422A.

                  "Option Agreement" means an agreement entered into between the
Corporation and an employee or an Eligible Director in the form prescribed by
the Committee.

                  "Option Price" means the price at which each share of Stock
subject to an Option may be purchased, determined in accordance with Sections
8.1 and 8.4 herein.

                  "Participant" means any individual, other than an Eligible
Director, designated by the Committee to participate in the Plan pursuant to
Section 3.1 herein.

                  "Period of Restriction" means the period during which the
transfer of shares of Restricted Stock is restricted pursuant to Section 8 of
the Plan.

                  "Restricted Stock" means Stock granted to a Participant
pursuant to Section 8 of the Plan.

                  "Restricted Stock Agreement" means an agreement entered into
between the Corporation and the Employee in the form prescribed by the
Committee.

                                       2
<PAGE>   6

                  "Retirement," "Normal Retirement," and "Early Retirement"
means termination of employment upon the normal retirement age set by the Board
of Directors.

                  "Stock" means the common stock of FirstMerit Corporation.

         2.2 GENDER AND NUMBER. Except when otherwise indicated by the context,
words in the masculine gender when used in the Plan shall include the feminine
gender, the singular shall include the plural, and the plural shall include the
singular.

3.       ELIGIBILITY AND PARTICIPATION

         3.1 ELIGIBILITY AND PARTICIPATION. Participants in the Plan shall be
selected by the Committee from among those employees of the Corporation and its
subsidiaries who are recommended for participation by the Chief Executive
Officer of the Corporation and who, in the opinion of the Committee, are in a
position to contribute materially to the Corporation's continued growth,
development, and long-term financial success. Persons serving on the Committee
shall not be eligible to be a Participant.

         3.2 ELIGIBLE DIRECTORS. Eligible Directors are entitled to participate
in the Plan solely with respect to the grant of Director Stock Options and may
not receive any other Award under the Plan. The selection of Eligible Directors
is not subject to the discretion of the Committee. Persons serving on the
Committee who are Eligible Directors may receive grants of Director Stock
Options.

4.       ADMINISTRATION

         The Committee shall be responsible for the administration of the Plan.
The Committee, by majority action thereof, is authorized to interpret the Plan,
to prescribe, amend, and rescind rules and regulations relating to the Plan, to
provide for conditions and assurances deemed necessary or advisable to protect
the interests of the Corporation, and to make all other determinations necessary
or advisable for the administration of the Plan, but only to the extent not
contrary to the explicit provisions of the Plan. Determinations,
interpretations, or other actions made or taken by the Committee pursuant to the
provisions of the Plan shall be final and binding and conclusive for all
purposes and upon all persons whomsoever.

5.       STOCK SUBJECT TO PLAN

         5.1 NUMBER. The total number of shares of Stock subject to issuance
under the Plan may not exceed ten percent (10%) of the total shares of capital
stock of the Company issued and outstanding at any time subject to adjustment
upon occurrence of any of the events indicated in Subsection 5.3. The shares to
be delivered under the Plan may consist, in whole or in part, of authorized but
unissued Stock or issued stock reacquired and held as treasury Stock not
reserved for any other purpose.

                                       3
<PAGE>   7

         5.2 UNUSED STOCK. In the event any shares of Stock that are subject to
an Option which, for any reason, expires or is terminated unexercised as to such
shares, or any shares of Stock subject to a Restricted Stock grant made under
the Plan are reacquired by the Corporation pursuant to the Plan, such shares
again shall become available for issuance under the Plan.

         5.3 ADJUSTMENT IN CAPITALIZATION. In the event that subsequent to the
date of the Plan by the Board the shares of Stock should as a result of a stock
split, stock dividend, combination or exchange of shares, exchange for other
securities, reclassification, reorganization, redesignation, merger,
consolidation, recapitalization or other such change, be increased or decreased
or changed into or exchanged for a different number or kind of shares of Stock
or other securities of the Corporation or of another corporation, then (a) there
shall automatically be substituted for each share of Stock subject to an
unexercised Option (in whole or in part) granted under the Plan and each share
of Stock available for additional grants of Options under the Plan the number
and kind of shares of Stock or other securities into which each outstanding
share of Stock shall be changed or for which each such Share shall be exchanged,
(b) the Option Price shall be increased or decreased proportionately so that the
aggregate purchase price for the securities subject to the Option shall remain
the same as immediately prior to such event and (c) the Board shall make such
other adjustments to the securities subject to Options and the provisions of the
Plan and Option Agreements as may be appropriate and equitable. Any such
adjustment may provide for the elimination of fractional shares. In such event,
the Committee also shall have discretion to make appropriate adjustments in the
number and type of shares subject to Restricted and Performance Share grants
then outstanding under the Plan pursuant to the terms of such grants or
otherwise.

6.       DURATION OF PLAN

         The Plan shall remain in effect, subject to the Board's right to
earlier terminate the Plan pursuant to Section 16 hereof, until all Stock
subject to it shall have been purchased or acquired pursuant to the provisions
hereof. Notwithstanding the foregoing, no Option, Stock Appreciation Right,
Restricted Stock, Performance Share, or Performance Award may be granted under
the Plan on or after the tenth (10th) anniversary of the Plan's effective date.

7.       STOCK OPTIONS

         7.1 GRANT OF OPTIONS OTHER THAN DIRECTOR STOCK OPTIONS. Subject to the
provisions of Sections 5 and 6, Options other than Director Stock Options may be
granted to Participants at any time and from time to time as shall be determined
by the Committee. The Committee shall have complete discretion in determining
the number of Options granted to each Participant. The Committee also shall
determine whether an Option is to be an incentive stock option within the
meaning of Code Section 422A, or a nonqualified stock option whose grant is
intended not to fall within the provisions of Section 422A. However, in no event
shall the aggregate Fair Market Value (determined at the date of grant) of the
stock of which incentive stock options are first exercisable in a particular
calendar year exceed $100,000, computed in accordance with Section 422A(b)(7) of
the Code.

                                       4
<PAGE>   8

         An incentive stock option shall only be granted to a person who owns,
directly or indirectly, Stock possessing more than ten percent (10%) of the
total combined voting power of all classes of Stock of the Corporation, if the
price of any such Option is at least one hundred and ten percent (110%) of the
Fair Market Value of the Stock subject to the Option and the Option by its terms
is not exercisable more than five (5) years from the date it is granted.

         Nothing in this Section 7 shall be deemed to prevent the grant of
nonqualified stock options in excess of the maximum established by Section 422A
of the Code.

         7.2 GRANT OF DIRECTOR STOCK OPTIONS. [THIS PROVISION WAS TERMINATED
EFFECTIVE UPON THE MERGER OF SIGNAL CORPORATION WITH AN INTO FIRSTMERIT
CORPORATION.] Subject to the provisions of Sections 5 and 6, Director Stock
Options shall be granted to Eligible Directors as provided in this Section 7.2
and the Committee shall have no discretion with respect to any matters set forth
in this Section 7.2.

                  (a) VESTING. Each Director Stock Option shall become
exercisable on and after the first anniversary of the date of the grant.

                  (b) NUMBER OF SHARES. Commencing immediately after the
adjournment of the Corporation's annual meeting of shareholders ("Annual
Meeting") in 1991 and immediately after the adjournment of the Annual Meeting
each year thereafter, any Eligible Director who was an Eligible Director
immediately preceding such Annual Meeting and who has been elected as a director
at such Annual Meeting shall automatically be granted a Director Stock Option
for fifty (50) shares of Stock if, but only if, the return on common equity of
the Corporation as set forth in the Corporation's annual report to shareholders
for the immediately preceding fiscal year is equal to or greater than ten
percent (10%).

         7.3 OPTION AGREEMENT. Each Option shall be evidenced by an Option
Agreement that shall specify the type of Option granted, the Option Price, the
duration of the Option, the number of shares of Stock to which the Option
pertains, and such other provisions as the Committee shall determine.

         7.4 OPTION PRICE. No Option granted pursuant to the Plan shall have an
Option Price that is less than the Fair Market Value of the Stock on the date
the Option is granted.

         7.5 DURATION OF OPTIONS. Each Option, other than Director Stock Options
and Options granted to a person who owns, directly or indirectly, Stock
possessing more than ten percent (10%) of the total combined voting power of all
classes of Stock of the Corporation, shall expire at such time as the Committee
shall determine at the time it is granted; provided, however, that no Option,
other than incentive stock options within the meaning of Section 422A of the
Code, shall be exercisable later than twenty (20) years and one day from the
date of its grant and no such incentive stock option shall be exercisable more
than ten (10) years and one day from the date of grant. No Director Stock Option
may be exercisable later than twenty (20) years and one day from the date of its
grant.

                                       5
<PAGE>   9

         7.6 EXERCISE OF OPTIONS. Options granted under the Plan other than
Director Stock Options shall be exercisable at such times and be subject to such
restrictions and conditions as the Committee shall in each instance approve,
which need not be the same for all Participants.

         7.7 PAYMENT. The Option Price upon exercise of any Option shall be
payable to the Corporation in full either (i) in cash or its equivalent, or (ii)
by tendering shares of previously acquired Stock having a Fair Market Value at
the time of exercise equal to the total Option Price, or (iii) by a combination
of (i) and (ii). The proceeds from such a payment shall be added to the general
funds of the Corporation and shall be used for general corporate purposes. As
soon as practicable after receipt of full payment (including the necessary tax
withholding), the Corporation shall deliver to the Participant or the Eligible
Director, as the case may be, Stock certificates in an appropriate amount based
upon the number of Options exercised, issued in the name of the Participant or
the Eligible Director, as the case may be.

         7.8 RESTRICTIONS ON STOCK TRANSFERABILITY. The Committee shall impose
such restrictions on any shares of Stock acquired pursuant to the exercise of an
Option under the Plan as it may deem advisable, including, without limitation,
restrictions under applicable Federal securities law, under the requirements of
any stock exchange upon which such shares of Stock are then listed under any
blue sky or state securities laws applicable to such shares.

         7.9 TERMINATION OF EMPLOYMENT FOR SPECIFIC REASONS. In the event the
employment of a Participant is terminated for any reason, any outstanding Option
granted pursuant to the Plan and any rights thereunder shall be exercisable by
the Participant (or in the case of a deceased Participant by his legal
representative) only to the extent of the accrued right to exercise such Option
at the date of such termination; provided, however, if such termination is by
reason of death or disability or, with the prior consent of the Committee, by
reason of resignation or retirement, and if at the date of such termination the
Participant had completed twelve (12) full months of employment after the date
of the Option grant the Committee may, in its sole discretion, permit the
exercise of all or any portion of the Option not otherwise exercisable and may
provide that all or some portion of the Option shall not terminate upon or by
virtue of such employment termination. To the extent that such Option is
exercisable at termination or, as the result of Committee approval, becomes
exercisable at termination it must be exercises prior to the expiration of the
expiration date of the Option or within twelve (12) months and five (5) days
after such date of termination of employment, whichever period is shorter.
However, in the case of incentive stock options, the favorable tax treatment
prescribed under Section 422A of the Code shall not be available if such Option
is not exercised within the required statutory period as specified in Section
422A.

         7.10 TERMINATION OF EMPLOYMENT FOR OTHER THAN SECTION 7.9 REASONS. If
the employment of the Participant shall terminate for any reason other than one
of those specified in Section 7.9 of the Plan, the rights under any then
outstanding Option granted pursuant to the Plan which, pursuant to the terms of
the Option Agreement between the Participant and the Corporation, is exercisable
as of the date of such termination, shall terminate upon the expiration date of
the Option or three (3) months after such date of termination of employment,
whichever first occurs. In its sole discretion, the Committee may extend the
three (3) months up to twelve (12) months and five (5) days, but in no event
beyond the expiration date of the Option.

                                       6
<PAGE>   10

         7.11 TERMINATION OF ELIGIBLE DIRECTOR SHARES. In the event that an
Eligible Director ceases to be an Eligible Director for any reason, the rights
under any then outstanding Director Stock Option granted pursuant to the Plan
which are exercisable as of the date he ceases to be an Eligible Director shall
terminate upon the date determined as provided in Section 8.5 above, or three
(3) months after such cessation date, whichever first occurs; provided, however,
that if he ceases to be an Eligible Director by reason of death, the three (3)
month period shall be extended to the sooner of twelve (12) months and five (5)
days or the expiration date of the Director Stock Option.

         7.12 NONTRANSFERABILITY OF OPTIONS. No Option granted under the Plan
may be sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated, otherwise than by will or by the laws of descent and distribution.
All Options granted to a Participant or an Eligible Director under the Plan
shall be exercisable during his lifetime only by such Participant or Eligible
Director.

8.       RESTRICTED STOCK AWARDS

         8.1 GRANT OF RESTRICTED STOCK. Subject to the provisions of Sections 5
and 6, the Committee, at any time and from time to time, may award shares of
Restricted Stock under the Plan to such Participants and in such amounts as it
shall determine. Each Restricted Stock Award shall be evidenced by a Restricted
Stock Agreement that shall specify the Period or Periods of Restriction, the
number of Restricted Stock shares awarded, and such other provisions as the
Committee shall determine.

         8.2 TRANSFERABILITY. Except as provided in this Section 8, the shares
of Restricted Stock awarded hereunder may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated for such period of time as
shall be determined by the Committee and shall be specified in the Restricted
Stock Agreement, or upon earlier satisfaction of other conditions as specified
by the Committee in its sole discretion and set forth in the Restricted Stock
Agreement.

         8.3 OTHER RESTRICTIONS. The Committee shall impose such other
restrictions on any shares of Restricted Stock awarded pursuant to the Plan as
it may deem advisable including, without limitation, restrictions under
applicable federal or state securities or tax laws, and may legend the
certificates representing Restricted Stock to give appropriate notice of such
restrictions.

         8.4 CERTIFICATE LEGEND. In addition to any legends placed on
certificates pursuant to Section 8.3 hereof, each certificate representing
shares of Restricted Stock granted pursuant to the Plan shall bear a legend
which is comparable to the following:

                  "The sale or other transfer of this certificate or the shares
                  of stock represented by this certificate, whether voluntary,
                  involuntary, or by operation of law, is subject to certain
                  restrictions on transfer and other terms and conditions set
                  forth in the FirstMerit Corporation1989 Stock Incentive Plan
                  (SB) and a Restricted Stock Agreement dated ____________,
                  ____. A copy of the Plan and such Restricted Stock Agreement
                  may be obtained from the Secretary of FirstMerit Corporation,
                  III Cascade Plaza, Akron, Ohio 44308.

                                       7
<PAGE>   11

         8.5 REMOVAL OF RESTRICTIONS. Except as otherwise provided in this
Section 8, shares of Restricted Stock covered by each Restricted Stock Award
made under the Plan shall become freely transferable by the Participant after
the last day of the Period of Restriction. Once the shares are released from the
restrictions, the Participant shall be entitled to have the legend required by
Section 8.4 removed from his Stock certificates.

         8.6 VOTING RIGHTS. During the Period of Restriction, Participants
holding shares of Restricted Stock awarded hereunder may exercise full voting
rights with respect to those shares.

         8.7 DIVIDENDS AND OTHER DISTRIBUTIONS. During the Period of
Restriction, Participants holding shares of Restricted Stock awarded hereunder
shall be entitled to receive all dividends and other distributions paid with
respect to those shares while they are so held. If any such dividends or
distributions are paid in shares of Stock, the shares shall be subject to the
same restrictions on transferability as the shares of Restricted Stock with
respect to which they were paid.

         8.8 TERMINATION OF EMPLOYMENT. In the event that a Participant
terminates his employment with the Corporation for any reason, any shares of
Restricted Stock still subject to restrictions at the date of such termination
automatically shall be forfeited and returned to the Corporation; provided,
however, that the Committee, in its sole discretion, at the time of such
retirement may with respect to some or all of the shares still subject to
restrictions at the time of said termination waive the automatic forfeiture,
and/or reduce the restrictions, and/or modify restrictions applicable to such
shares.

9.       BENEFICIARY DESIGNATION

         Each Participant under the Plan may, from time to time, name any
beneficiary or beneficiaries (who may be named contingently or successively) to
whom any benefit under the Plan is to be paid in case of his death before he
receives any or all of such benefit. Each designation will revoke all prior
designations by the same Participant, shall be in a form prescribed by the
Committee, and will be effective only when filed by the Participant in writing
with the Committee during his lifetime. In the absence of any such designation,
benefits remaining unpaid at the Participant's death shall be paid to his
estate.

10.      RIGHTS OF EMPLOYEES

         10.1 EMPLOYMENT. Nothing in the Plan shall interfere with or limit in
any way the right of the Corporation to terminate any Participant's employment
at any time, nor confer upon any Participant any right to continue in the employ
of the Corporation.

         10.2 PARTICIPATION. No employee shall have a right to be selected as a
Participant, or, having been so selected, to be selected again as a Participant.

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11.      CHANGE IN CONTROL

         11.1 IN GENERAL. In the event that (a) the Corporation is a party to a
merger or consolidation agreement, (b) the Corporation is a party to an
agreement to sell substantially all of its assets, or (c) there is change in
control of the Corporation as defined in Section 11.3 below, the Committee may,
in its sole discretion, provide that all outstanding Awards shall become one
hundred percent (100%) vested, that all outstanding Options shall become
immediately exercisable and that any Period of Restriction shall immediately
lapse.

         11.2 LIMITATION ON PAYMENTS. If the receipt of any payment under this
Section by any Participant shall, in the opinion of independent tax counsel of
recognized standing selected by the Corporation, result in the payment by such
Participant of any excise tax provided for in Section 280G and Section 4999 of
the Code, then the amount of such payment shall be reduced to the extent
required, in the opinion of independent tax counsel, to prevent the imposition
of such excise tax.

         11.3 CHANGE IN CONTROL. The term "Change in Control" shall mean the
occurrence of any one of the following events:

                  (a) individuals who, on April 19, 2000, constitute the Board
(the "Incumbent Directors") cease for any reason to constitute at least a
majority of the Board, provided that any person becoming a director subsequent
to April 19, 2000 whose election or nomination for election was approved by a
vote of at least 2/3rds of the Incumbent Directors then on the Board (either by
a specific vote or by approval of the proxy statement of the Company in which
such person is named as a nominee for director, without written objection to
such nomination) shall be an Incumbent Director; provided, however, that no
director of the Company initially as a result of an actual or threatened
election contest with respect to directors or any other actual or threatened
solicitation of proxies or consents by or on behalf of any person other than the
Board shall be deemed to be an Incumbent Director;

                  (b) any "person" (as such term is defined in Section 3(a)(9)
of the Securities Exchange Act of 1934 (the "Exchange Act") and as used in
Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a "beneficial
owner" (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing 25% or more of the
combined voting power of the Company's then outstanding securities eligible to
vote for the election of the Board (the "Company Voting Securities"); provided,
however, that the event described in this paragraph (b) shall not be deemed to
be a Change in Control by virtue of any of the following acquisitions:

                           (i)  by the Company or any Subsidiary,

                           (ii) by any employee benefit plan sponsored or
                  maintained by the Company or any Subsidiary,

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<PAGE>   13

                           (iii) by any underwriter temporarily holding
                  securities pursuant to an offering of such securities,

                           (iv) pursuant to a Non-Control Transaction (as
                  defined in paragraph (c)), or

                           (v) a transaction (other than one described in (c)
                  below) in which Company Voting Securities are acquired from
                  the Company, if a majority of the Incumbent Directors then on
                  the Board approve a resolution providing expressly that the
                  acquisition pursuant to this clause (v) does not constitute a
                  Change in Control under this paragraph (b);

                  (c) the consummation of a merger, consolidation, statutory
share exchange or similar form of corporate transaction involving the Company or
any of its Subsidiaries that requires the approval of the Company's
shareholders, whether for such transaction or the issuance of securities in the
transaction (a "Business Combination"), unless immediately following such
Business Combination:

                           (i) more than 50% of the total voting power of (x)
                  the corporation resulting from such Business Combination (the
                  "Surviving Entity"), or (y) if applicable, the ultimate parent
                  corporation that directly or indirectly has beneficial
                  ownership of 100% of the voting securities eligible to elect
                  directors ("Total Voting Power") of the Surviving Entity (the
                  "Parent Entity"), is represented by Company Voting Securities
                  that were outstanding immediately prior to such Business
                  Combination (or, if applicable, shares into which such Company
                  Voting Securities were converted pursuant to such Business
                  Combination), and such voting power among the holders thereof
                  is in substantially the same proportion as the voting power of
                  such Company Voting Securities among the holders thereof
                  immediately prior to the Business Combination,

                           (ii) no person (other than any employee benefit plan
                  (or related trusts) sponsored or maintained by the Surviving
                  Entity or the Parent Entity), is or becomes the beneficial
                  owner, directly or indirectly, of 25% or more of the Total
                  Voting Power of the outstanding voting securities eligible to
                  elect directors of the Parent Entity (or, if there is no
                  Parent Entity, the Surviving Entity), and

                           (iii) at least a majority of the members of the board
                  of directors of the Parent Entity (or, if there is no Parent
                  Entity, the Surviving Entity) following the consummation of
                  the Business Combination were Incumbent Directors at the time
                  of the Board's approval of the execution of the initial
                  agreement providing for such Business Combination (any
                  Business Combination which satisfies all of the criteria
                  specified in (i), (ii) and (iii) above shall be deemed to be a
                  "Non-Control Transaction"); or

                                       10
<PAGE>   14

                  (d) the shareholders of the Company approve a plan of complete
liquidation or dissolution of the Company.

         Notwithstanding the foregoing, a Change in Control of the Company shall
not be deemed to occur solely because any person acquires beneficial ownership
of more than 25% of the Company Voting Securities as a result of the acquisition
of Company Voting Securities by the Company which reduces the number of Company
Voting Securities outstanding; provided, that if after such acquisition by the
Company such person becomes the beneficial owner of additional Company Voting
Securities that increases the percentage of outstanding Company Voting
Securities beneficially owned by such person by more than one percent, a Change
in Control of the Company shall then occur.

12.      AMENDMENT, MODIFICATION AND TERMINATION OF PLAN

         The Board may at any time terminate and, from time to time, may amend
or modify the Plan, provided, however, that no such action of the Board, without
approval of the shareholders, may:

                  (a) Increase the total amount of Stock which may be issued
         under the Plan, except as provided in Subsections 5.1 and 5.3 of the
         Plan.

                  (b) Change the provisions of the Plan regarding the Option
         Price except as permitted by Subsection 5.3.

                  (c) Materially increase the cost of the Plan or materially
         increase the benefits to Participants.

                  (d) Extend the period during which Options, or Restricted
         Stock, may be granted.

                  (e) Extend the maximum period after the date of grant during
         which Options may be exercised.

         No amendment, modification, or termination of the Plan shall in any
manner adversely affect any Options or, Restricted Stock, theretofore granted
under the Plan, without the consent of the Participant or the Eligible Director,
as the case may be.

13.      TAX WITHHOLDING

                  (a) The Corporation shall have the right to withhold from any
         payments made under the Plan or to collect as a condition of payment,
         any taxes required by law to be withheld. At any time when a
         Participant or an Eligible Director, as the case may be, is required to
         pay to the Corporation an amount required to be withheld under
         applicable income tax laws in connection with a distribution of common
         stock or upon exercise of an Option, the Participant or an Eligible
         Director, as the case may be, may satisfy this obligation

                                       11
<PAGE>   15

         in whole or in part by electing ("Election") to have the Corporation
         withhold from the distribution shares of common stock having a value
         equal to the amount required to be withheld. The value of the shares to
         be withheld shall be based on the Fair Market Value of the common stock
         on the date that the amount of tax to be withheld shall be determined
         ("Tax Date").

                  (b) Each Election must be made prior to the Tax Date. The
         Committee may disapprove of any Election, may suspend or terminate the
         right to make Elections, or may provide with respect to any grant that
         the right to make elections shall not apply to such Grant. An Election
         is irrevocable.

                  (c) If a Participant is an officer of the Corporation within
         the meaning of Section 16 of the Securities Exchange Act of 1934 or if
         the person making the Election is an Eligible Director, then an
         Election is subject to the following additional restrictions:

                         (1) No Election shall be effective for a Tax Date which
                  occurs within six (6) months of the grant of the award, except
                  that this limitation shall not apply in the event Death or
                  Disability of the Participant or the eligible Director, as the
                  case may be, occurs prior to the expiration of the six-month
                  period.

                         (2) The Election must be made either six (6) months
                  prior to the Tax Date or must be made during a period
                  beginning on the third business day following the date of
                  release for publication of the Corporation's quarterly or
                  annual summary statements of sales and earnings and ending on
                  the twelfth business day following such date.

14.      INDEMNIFICATION

         Each person who is or shall have been a member of the Committee or of
the Board shall be indemnified and held harmless by the Corporation against and
from any loss, cost, liability, or expense that may be imposed upon or
reasonably incurred by him in connection with or resulting from any claim,
action, suit, or proceeding to which he may be a party or in which he may be
involved by reason of any action taken or failure to act under the Plan and
against and from any and all amounts paid by him in settlement thereof, with the
Corporation's approval, or paid by him in satisfaction of any judgment in any
such action, suit, or proceeding against him, provided he shall give the
Corporation an opportunity, at its own expense, to handle and defend the same
before he under takes to handle and defend it on his own behalf. The foregoing
right of indemnification shall not be exclusive of any other rights of
indemnification to which such persons may be entitled under the Corporation's
Articles of Incorporation or Code of Regulations, as a matter of law, or
otherwise, or any power that the Corporation may have to indemnify them or hold
them harmless.

                                       12
<PAGE>   16

15.      REQUIREMENTS OF LAW

         15.1 REQUIREMENTS OF LAW. The granting of Options, or Restricted Stock,
and the issuance of shares of Stock upon the exercise of an Option shall be
subject to all applicable laws, rules, and regulations, and to such approvals by
any governmental agencies or national securities exchanges as may be required.

         15.2 GOVERNING LAW. The Plan, and all agreements hereunder, shall be
construed in accordance with and be governed by the laws of the State of Ohio.

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