Document:

Restricted Stock Agreement

 Exhibit 10.2 
 RESTRICTED STOCK AWARD AGREEMENT 
 UNDER THE CAMDEN NATIONAL CORPORATION 
 2003 STOCK OPTION AND INCENTIVE PLAN 
  

			
	Name of Grantee:	  	Robert W. Daigle
	No. of Shares:	  	4,205
	Grant Date:	  	April 29, 2008
	Final Acceptance Date:	  	April 29, 2008

 Pursuant to the Camden National Corporation 2003 Stock Option and Incentive Plan (the
“Plan”) as amended through the date hereof, Camden National Corporation (the “Company”) hereby grants a Restricted Stock Award (an “Award”) to the Grantee named above. Upon acceptance of this Award, the Grantee shall
receive the number of shares of Common Stock, no par value per share (the “Stock”) of the Company specified above, subject to the restrictions and conditions set forth herein and in the Plan. 
 1. Acceptance of Award. The Grantee shall have no rights with respect to this Award unless he or she shall have accepted this Award prior to the
close of business on the Final Acceptance Date specified above by signing and delivering to the Company a copy of this Award Agreement. Upon acceptance of this Award by the Grantee, certificates evidencing the shares of Restricted Stock so accepted
shall be issued and delivered to the Grantee, and the Grantee’s name shall be entered as the stockholder of record on the books of the Company. Thereupon, the Grantee shall have all the rights of a shareholder with respect to such shares,
including voting and dividend rights, subject, however, to the restrictions and conditions specified in Paragraph 2 below. 
 2.
Restrictions and Conditions. 
 (a) Certificates evidencing the shares of Restricted Stock granted herein shall bear an appropriate
legend, as determined by the Administrator in its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan. 
 (b) Shares of Restricted Stock granted herein may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of by the Grantee prior to vesting. 
 (c) If the Grantee’s employment with the Company and its Subsidiaries is voluntarily or involuntarily terminated for any reason (including death)
prior to vesting of shares of Restricted Stock granted herein, the Company shall have the right, at the discretion of the Administrator, to cause the Grantee or the Grantee’s legal representative to forfeit such shares back to the Company for
no consideration. The Company must exercise such right of forfeiture by written notice to the Grantee or the Grantee’s legal representative not later than 60 days following such termination of employment. 

 3. Vesting of Restricted Stock. The restrictions and conditions in Paragraph 2 of this
Agreement shall lapse on June 30, 2009 (the “Vesting Date”). 
 Subsequent to such Vesting Date, the shares of Stock on which
all restrictions and conditions have lapsed shall no longer be deemed Restricted Stock. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 3. 
 4. Dividends. Dividends on Shares of Restricted Stock shall be paid currently to the Grantee. 
 5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the terms and
conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Transferability. This Agreement is personal to the Grantee, is non-assignable and is not transferable in any manner, by
operation of law or otherwise, other than by will or the laws of descent and distribution. 
 7. Tax Withholding. The Grantee shall,
not later than the date as of which the receipt of this Award becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes
required by law to be withheld on account of such taxable event. The Grantee may elect to have the required minimum tax withholding obligation satisfied, in whole or in part, by (i) authorizing the Company to withhold from shares of Stock to be
issued, or (ii) transferring to the Company, a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due. 
 8. Miscellaneous. 
 (a) Notice hereunder shall be given to the Company at its principal place of
business, and shall be given to the Grantee at the address set forth below, or in either case at such other address as one party may subsequently furnish to the other party in writing. 
 (b) This Agreement does not confer upon the Grantee any rights with respect to continuation of employment by the Company or any Subsidiary. 
  

			
	CAMDEN NATIONAL CORPORATION
		
	By:	 	 /s/ Anne S. Edwards

	Title:	 	Senior Vice President

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.

  

			
	Dated: April 29, 2008	 	 /s/ Robert W. Daigle

		 	Grantee’s Signature
		
		 	Grantee’s name and address:Management Stock Purchase Plan

 Exhibit 10.3 
 CAMDEN NATIONAL CORPORATION 
 MANAGEMENT STOCK PURCHASE PLAN 
 Effective January 1, 2005 
 Amended
January 1, 2007 
 Amended January 1, 2008 
  

	I.	INTRODUCTION 

 The purpose of the Camden National
Corporation Management Stock Purchase Plan (the “Plan”) is to provide equity incentive compensation to selected management employees of Camden National Corporation (the “Company”) and its subsidiaries. Participants in the Plan
who are employees of the Company or any of its subsidiaries may elect to receive restricted shares (“Restricted Shares”) of the Company’s Common Stock (“Stock”) in lieu of a portion of their annual incentive bonus.
Restricted Shares are granted at a discount of one-third of the fair market value of the Stock on the date of grant. So long as the participant remains employed by the Company or any of its subsidiaries for at least two years after the date of
grant, his or her Restricted Shares will vest. This Plan is a component plan of the Camden National Corporation 2003 Stock Option and Incentive Plan (the “2003 Incentive Plan”). Notwithstanding anything herein to the contrary, this Plan
shall be subject to and governed by all the terms and conditions of the 2003 Incentive Plan, including the powers of the Administrator set forth in Section 2(b) of the 2003 Incentive Plan. Capitalized terms in this Plan shall have the meaning
specified in the 2003 Incentive Plan, unless a different meaning is specified herein. 
  

	II.	ADMINISTRATION 

 The Plan shall be administered by
the Administrator. The Administrator shall have complete discretion and authority with respect to the Plan and its application, except as expressly limited herein. Determinations by the Administrator shall be final and binding on all parties with
respect to all matters relating to the Plan. 
  

	III.	ELIGIBILITY 

 Management employees of the Company
and its subsidiaries as designated by the Administrator shall be eligible to participate in the Plan. 
  

	IV.	PARTICIPATION 

 A. Restricted Shares.
Participation in the Plan shall be based on the award of Restricted Shares. 
 B. Cost of Restricted Shares. The “Cost” of
each Restricted Share shall be equal to two-thirds of the fair market value of the Stock on the date the Restricted Share is awarded. 
 C.
Election to Participate. Each year, each participant who is an employee of the Company or any of its subsidiaries may elect to receive an award of Restricted Shares under the Plan in lieu of either 10 percent or 20 percent of his or her
annual incentive bonus by completing a bonus election agreement (“Bonus Election Agreement”). The Bonus Election Agreement shall provide that the participant elects to receive Restricted Shares in lieu of 10 percent or 20 percent of any
annual incentive bonus. Bonus Election Agreements must be received by the Company no later than December 31 of the calendar year prior to the calendar year during which such bonus amount will be paid, or such other time or times selected by the
Administrator in its sole discretion. Notwithstanding the foregoing, the Administrator may require certain officers to participate in the Plan. 

 D. Award of Restricted Shares. Once each year, on the date that annual incentive bonuses are paid,
the Company shall award Restricted Shares to each participant who is an employee of the Company as follows: Each such participant shall receive a whole number of Restricted Shares determined by dividing the amount (expressed in dollars) that is
equal to 10 percent or 20 percent, as the case may be, of his or her gross annual incentive bonus by the Cost of each Restricted Share awarded on such date. No fractional Restricted Shares will be credited and the amount equivalent in value to the
fractional Restricted Share will be paid out to the participant currently in cash. Restricted shares are purchased with after-tax dollars (i.e., the entire bonus is considered taxable income). 
  

	V.	VESTING OF RESTRICTED SHARES 

 A. Vesting. A
participant shall be fully vested in each Restricted Share two years after the date such Restricted Share was awarded. 
 B. Settlement
Prior to Vesting. If a participant’s employment with the Company terminates for any reason other than a “bona fide retirement” (as defined below) prior to vesting, except as otherwise provided in the participant’s employment
agreement, if any, the participant’s nonvested Restricted Shares shall be forfeited back to the Company and he or she shall receive a cash payment equal to the lesser of (a) the Cost of such Restricted Shares or (b) an amount equal to
the number of such Restricted Shares multiplied by the fair market value of the Stock on the date of the participant’s termination of employment. Since the Restricted were Shares purchased on an after-tax basis, this cash payment will not be
considered taxable income to the participant. 
 C. Special Provision. As soon as a participant in the Management Stock Purchase Plan
reaches age 60 with at least 10 years of service, all Restricted Shares purchased under this Plan that have not yet vested will vest immediately, and any new purchases of Restricted Shares made after qualifying for this Special Provision will be
immediately vested upon the date of purchase (and constitute a taxable event). 
  

	VI.	DIVIDENDS 

 Dividends on Restricted Shares shall be
paid currently to the participant, and are treated as ordinary income (i.e., added to W-2, Box 1 earnings) until such Restricted Shares become vested and distributed. 
  

	VII.	AMENDMENT OR TERMINATION OF PLAN 

 The Company
reserves the right to amend or terminate the Plan at any time, by action of its Board of Directors or the Administrator, provided that no such action shall adversely affect a participant’s rights under the Plan with respect to Restricted Shares
awarded before the date of such action. 
  

	VIII.	MISCELLANEOUS PROVISIONS 

 A. No Distribution;
Compliance with Legal Requirements. The Administrator may require each person acquiring Restricted Shares under the Plan to represent to and agree with the Company in writing that such person is acquiring the shares without a view to
distribution thereof. No Restricted Shares shall be issued until all applicable securities law and other legal and stock exchange requirements have been satisfied. The Administrator may require the placing of such stop-orders and restrictive legends
on certificates for Restricted Shares as it deems appropriate. 

 B. Withholding. Each participant shall, not later than the date as of which the receipt of
Restricted Shares becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such
taxable event. The participant may elect to have the required minimum tax withholding obligation satisfied, in whole or in part, by (i) authorizing the Company to withhold from Restricted Shares, or (ii) transferring to the Company, a
number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; either of these alternatives is considered a sale of Restricted Shares to the Company. 
 C. Notices; Delivery of Stock Certificates. Notice hereunder shall be given to the Company at its principal place of business, and shall be given
to a participant at the address shown for the participants on the records of the Company, or at such other address as the participant may subsequently furnish to the Company in writing. 
 D. Nontransferability of Rights. Restricted Shares awarded under the Plan are personal to the participants, are non-assignable and are not
transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 
 E. No
Employment Rights. This Plan does not confer upon the participants any rights with respect to continuation of employment by the Company or any subsidiary.

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