Document:

1995 Non-Qualified Stock Option Plan

 Exhibit 10.1 
 TOWER BANCORP, INC. 
 1995 NON-QUALIFIED STOCK OPTION PLAN 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 By this Agreement, dated as of                      (the “Date of Grant”), pursuant to the Tower Bancorp, Inc. 1995 Stock Option
Plan (the “Plan”), Tower Bancorp, Inc. (the “Corporation”) grants and gives to                     , an adult individual
(the “Recipient”), the option and right, but not the obligation, to purchase from the Corporation up to              shares of its common stock at the purchase price of
$             for each such share (the “Option Price”), under and subject to the terms and provisions set forth in this Agreement and the Plan (the “Option”). The Option
Price is intended to be 100% of the fair market value of a share of the Corporation common stock as of the Date of Grant as determined in accordance with the Plan. It is intended that the Option granted by this Agreement is and shall be a
Non-Qualified Option as defined in the Plan. 
 The term of this Option shall be ten (10) years from the Date of Grant. Subject to the
other provisions of this Agreement and the Plan, the Option hereby granted shall vest and become and be exercisable in accordance with the following schedule:
                    . Notwithstanding anything to the contrary, including the foregoing vesting schedule, this Option shall vest and become 100%
exercisable upon a Change of Control (as defined below) and as otherwise provided herein or in the Plan. 
 The Option granted by this
Agreement shall be exercisable during the lifetime of the Recipient only by the Recipient and shall not be salable, transferable, or assignable by the Recipient except by his or her will or pursuant to applicable laws of descent and distribution and
pursuant to terms of said Plan. Except as otherwise provided in this Agreement or in the Plan, this Option may only be exercised while the Recipient is an employee of the Corporation or a Subsidiary of the Corporation. In the event of
Recipient’s termination of employment for any reason other than death, Disability or Retirement or following a Change of Control (as such terms are defined below), this Option shall be exercisable only as to those shares that were immediately
purchasable on the date of termination and only for a period of twelve (12) months following termination. If the Recipient’s termination of employment is due to death, Disability or Retirement or following a Change of Control, all Options
granted to such Recipient hereby shall vest and become immediately exercisable upon such event and shall be thereafter exercisable by the Recipient or the Recipient’s legal representative or beneficiaries, as applicable, for a period of one
(1) year following the date of such event, provided that in no circumstance shall the period extend beyond the expiration of the option term set forth above. For purposes hereof: (i) the term “Disability” or “Disabled”
shall mean any physical or mental impairment which qualifies an individual for disability benefits under the applicable long-term disability plan maintained by the Corporation or its subsidiaries, or, if no such plan applies, which would qualify
such individual for disability benefits under the long-term disability plan maintained by the Corporation or its subsidiaries, if such individual were covered by that plan, or, if no such plan exists, as 

 
determined in good faith by the Committee; (ii) “Retirement” or “Retired” shall mean a termination of employment which constitutes a
“retirement”, whether normal or otherwise, under any applicable qualified pension benefit plan maintained by the Corporation or its subsidiaries, or, if no such plan is applicable, which would constitute “retirement”, as
determined by the Committee, in its sole discretion; and (iii) “Change of Control” shall mean any of the following: (A) the occurrence of, or execution of an agreement providing for a merger, consolidation, division or other
fundamental transaction involving the Corporation, a sale, exchange, transfer or other disposition of substantially all of the assets of the Corporation, or a purchase by the Corporation of substantially all of the assets of another entity, unless
(1) such merger, consolidation, division, sale, exchange, transfer, purchase, disposition or other transaction is approved in advance by eighty percent (80%) or more of the members of the Board of Directors of the Corporation who are not
interested in the transaction and (2) a majority of the members of the Board of Directors of the legal entity resulting from or existing after any such transaction and a majority of the members of the Board of Directors of such entity’s
parent corporation, if any, are former members of the Board of Directors of the Corporation; or (B) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Act”)), other
than the Corporation or any “person” who on the date hereof is a director or officer of the Corporation is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the
Corporation representing twenty (20%) percent or more of the combined voting power of the Corporation’s then outstanding securities; or (3) any other change in control of the Corporation similar in effect to any of the foregoing, as
determined in good faith by the Committee. 
 If the Recipient desires to exercise the Option under this Agreement, the Recipient shall do so
by properly completing, signing, and returning to the Secretary of the Corporation, or to the person designated by said corporate Secretary, the Notice of Exercise in the form attached to and made a part of this Agreement, together with full payment
by the Recipient for the common shares being purchased hereunder in legal tender of the United States of America. The Corporation may withhold issuance and delivery to the Recipient of any or all stock certificate or certificates for such shares
being purchased hereunder until full collection by the Corporation or its depository of full payment for such shares and until there is full compliance with and satisfaction of all applicable terms and provisions of and under the Plan and this
Agreement. The Corporation may require the Recipient to remit to the Corporation an amount sufficient to satisfy fully any federal, state and other jurisdictions’ income and other tax withholding requirements prior to its issuance and delivery
of any stock certificate or certificates for such shares hereunder. The Recipient shall have no rights or powers with respect to any shares of such common stock that may be or are being purchased hereunder unless and until one or more stock
certificates for such shares are issued and delivered to the Recipient. 
 Nothing in this Agreement or the Plan shall or does confer upon
the Recipient any right to continue in the employment of, or maintain any particular relationship with the Corporation or its affiliates, or limit or affect any rights, powers or privileges that the Corporation or its affiliates may have to
supervise, discipline and terminate the Recipient and his or her employment and other relationships. 
  

 2 

 The Option granted by this Agreement is and shall be under and subject to all of the provisions of this
Agreement and the Plan, and may be exercised only as, when, during the time or times, and in the manner provided in this Agreement and the Plan. The provisions of the Plan are hereby incorporated by reference in and as a part of this Agreement, and
this Agreement in all respects shall be interpreted and construed in accordance with the Plan. Words and phrases that are assigned definitions in the Plan shall have the same respective meanings when used in this Agreement. The Recipient
acknowledges that he or she has received a complete copy of the Plan and has read and is familiar with its provisions. The provisions of this Non-Qualified Stock Option Agreement shall be interpreted and construed under and enforced in accordance
with the laws of the Commonwealth of Pennsylvania, except to the extent preempted by the laws of the United States of America which, to that extent, shall govern. 
 The Corporation has duly executed this Non-Qualified Stock Option Agreement as of the      day of             ,
        . 
  

							
	ATTEST:	 		 	TOWER BANCORP, INC.
				
	  
	 		 	By:	 	  

	(Asst) Secretary	 		 		 	Andrew Samuel, Chairman

 Acceptance by Recipient 
 The undersigned Recipient, intending to be legally bound, hereby accepts and agrees to the terms and provisions of the preceding Non-Qualified Stock
Purchase Option Agreement and the Tower Bancorp, Inc. 1995 Non-Qualified Stock Option Plan. 
  

					
	Date:
                                        
	 		 	  

		 		 	Employee

  

 32007 Stock Incentive Plan

 Exhibit 10.2 
 TOWER BANCORP, INC. 
 GRAYSTONE FINANCIAL CORP. 
 2007 STOCK INCENTIVE PLAN 
 NONQUALIFIED STOCK OPTION AGREEMENT 
 FOR EMPLOYEE 
 THIS STOCK OPTION AGREEMENT (this “Agreement”) dated as of
                    ,          (the “Date of Grant”), is delivered by Tower Bancorp, Inc. (the
“Company”), a Pennsylvania bank holding company, as successor through merger to Graystone Financial Corp., to                      (the
“Grantee”), who is an employee of the Company or one of its subsidiaries. 
 WITNESSETH: 
 WHEREAS, the Board of Directors of Graystone Financial Corp. adopted on March 27, 2007, with subsequent shareholder approval on May 22,
2007, the Graystone Financial Corp. 2007 Stock Incentive Plan (the “Plan”); 
 WHEREAS, pursuant to the merger of Graystone
Financial Corp. with and into the Company, the Company assumed the Plan as of March 31, 2009 and succeeded Graystone Financial Corp. as sponsor of the Plan. 
 WHEREAS, the Plan permits the grant of nonqualified stock options to purchase shares of the Company’s common stock, no par value per share (“Company Stock”), to designated Employees (as defined
in the Plan), in accordance with the terms and provisions of the Plan, including anti-dilution adjustments; and 
 WHEREAS, the
Grantee has been designated pursuant to the Plan to receive a nonqualified stock option on the Date of Grant specified above; and 
 WHEREAS, this Agreement is intended to fulfill the requirement of the Plan that Grants (as defined in the Plan) under the Plan shall be evidenced by a written instrument. 
 NOW, THEREFORE, the Company intending to be legally bound, hereby agrees as follows: 
  

	 	1.	GRANT OF OPTION. Subject to the terms and conditions hereinafter set forth and the terms and conditions of the Plan, the Company grants to the Grantee, as of the Date
of Grant, a Nonqualified Stock Option (as defined in the Plan) to purchase                      (        )
shares of Company Stock at a price of $         per share. Such option is hereinafter referred to as this “Option” and the price per share is referred to as the “option price.” The option
price is intended to be 100% of the Fair Market Value of a share of Company Stock as of the Date of Grant, as determined in accordance with the Plan. The number of shares of Company Stock subject to this Option and the option price are subject to
adjustment under circumstances set forth in the Plan. 

	 	2.	OPTION TERM AND VESTING SCHEDULE. 

 2.1 The term of this Option shall be ten (10) years from the Date of Grant. 
 2.2 Unless vested earlier, by
acceleration or otherwise, this Option will vest in accordance with the following schedule:
                                         
                       . Notwithstanding anything to the contrary, including the foregoing vesting schedule, this Option shall vest and
become 100% exercisable upon a Change of Control (as defined in the Plan) and as otherwise provided in the Plan. 
  

	 	3.	EXERCISE. Except as otherwise provided below, this Option may only be exercised while the Grantee is an Employee of the Company. In the event of Grantee’s
termination of employment for any reason other than death, Disability or Retirement (as such terms are defined in Section 5.6.4 of the Plan) or following a Change of Control (as defined in Section 9.1 of the Plan), this Option shall be
exercisable only as to those shares of Company Stock that were immediately purchasable by the Grantee at the date of termination and only for a period of three (3) months following termination; provided that in no event shall the exercise
period extend beyond the expiration of the term of this Option. In the event of a termination of a Grantee’s employment due to death, Disability, Retirement or following a Change of Control, this Option shall vest and become immediately
exercisable and shall thereafter be exercisable by the Grantee or the Grantee’s legal representative or beneficiaries, as applicable, for a period of two (2) years following the date of such event, provided that in no event shall
the Option be exercised after the expiration of the term of this Option. 

  

	 	4.	METHOD OF EXERCISE. 

 4.1 A
Grantee may exercise this Option to the extent it is then exercisable under the Plan, in whole or in part, by delivering a duly completed notice of exercise, in such form as is acceptable to the Committee (as defined in the Plan), to the Secretary
or other officer of the Company designated by the Committee, with accompanying payment of the option price in cash or any other form of payment permitted pursuant to Section 5.7 of the Plan. 
 4.2 Unless otherwise provided by the Committee, such notice may instruct the Company to deliver shares of Company Stock due upon the
exercise of this Option to a Designated Broker (as defined in the Plan) in lieu of delivery to the Grantee. The Committee may suspend the ability of a Grantee to exercise this Option through a Designated Broker at any time that the Committee, in its
sole discretion, determines appropriate. 
  

	 	5.	 NON-TRANSFERABILITY OF OPTION. The Option evidenced by this Agreement is not transferable by the Grantee other than by will or by the laws of descent
and distribution or as may be otherwise permitted in accordance with the Plan. During the lifetime of the Grantee, this Option may be exercised only by the 

  

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Grantee. After the death of the Grantee, this Option may be exercised by the representatives or other person entitled to succeed to the rights of the
Grantee, subject to the terms of the Option. 

  

	 	6.	INCORPORATION OF PLAN BY REFERENCE. This Option is granted pursuant to the terms of the Plan, the terms of which are incorporated herein by reference and this Option
shall in all respects be interpreted in accordance with the Plan. The Grantee acknowledges that he or she has received a complete copy of the Plan and has read and is familiar with its provisions. The Committee shall interpret and construe the Plan
and this Agreement, and its interpretations and determinations shall be conclusive and binding on the Company and the Grantee and any other person claiming an interest hereunder, with respect to any issue arising hereunder or thereunder. In the
event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall control. 

  

	 	7.	GOVERNING LAW. Questions pertaining to construction, validity and effect of the provisions of the Plan and this Agreement and the rights of all persons hereunder and
thereunder shall be governed by the laws of the Commonwealth of Pennsylvania, without regard to the conflict of laws principles thereof. 

  

	 	8.	DEFINED TERMS. A capitalized term used and not otherwise defined in this Agreement shall have the meaning provided for such term by the Plan. 

IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute and attest this Stock Option Agreement, and the Grantee has
placed his or her signature hereon, effective as of the Date of Grant. 
  

							
	ATTEST:	 		  	TOWER BANCORP, INC.
				
	  
	 		  	By:	  	  

	(Asst) Secretary	 		  		  	Andrew Samuel, Chairman

 Acceptance by Grantee 
 The undersigned Grantee, intending to be legally bound, hereby accepts and agrees to the terms and provisions of the preceding Nonqualified Stock Option
Agreement and the Graystone Financial Corp. 2007 Stock Incentive Plan assumed by Tower Bancorp, Inc. The Grantee acknowledges that he or she has received a complete copy of the Plan and has read and is familiar with its provisions. 
  

							
	Date:                     	 		  		  	  

		 		  		  	Grantee

  

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