Document:

BDN-12.31.2013-EX 10.16

Exhibit 10.16

Non-Employee Trustee Compensation
(as revised December 10, 2013)
1.    Annual Fee:
a.    $45,000.
b.    payable at annual meeting of shareholders.
c.    payable in cash or common shares (valued at closing price on date of annual meeting of shareholders), at the election of each non-employee Trustee.
d.    cash portion is eligible for deferral into the Deferred Compensation Plan.
2.    Annual Equity Award:
a.    $70,000 in “restricted” common share rights.
b.    number of common share rights computed based on closing price of the common shares on date of annual meeting of shareholders.
c.    common share rights vest in three equal annual installments, commencing on the first anniversary of the award date, subject to accelerated vesting upon a change of control or termination of service on account of death, disability or retirement.  Upon vesting, a number of common shares are delivered equal to the number of share rights that vested.  [See “Miscellaneous” below for additional shares issuable upon a change of control or termination of service on account of death, disability or retirement.]
d.    unvested common share rights are entitled to dividend equivalents.
e.    common share rights are not eligible for deferral into the Deferred Compensation Plan.
3.    Per Board Meeting Fee:
a.    $1,500.
b.    payable in cash.
c.    eligible for deferral into the Deferred Compensation Plan.
4.    Per Committee Meeting Fee:
a.    $1,500.
b.    payable in cash.
c.    not eligible for deferral into the Deferred Compensation Plan.
5.    Per informal Board Informational Meeting Fee:
a.    $1,500.

b.    payable in cash.
c.    not eligible for deferral into the Deferred Compensation Plan.
6.    Chair Fees:
a.    Board Chair - $50,000 per year, payable in cash, at annual meeting of shareholders.
b.    Audit Committee Chair - $20,000 per year, payable in cash, at annual meeting of shareholders.
c.    Compensation Committee Chair - $12,500 per year, payable in cash, at annual meeting of shareholders.
d.    Corporate Governance Committee Chair - $12,500 per year, payable in cash, at annual meeting of shareholders.
e.    Chair fees are not eligible for deferral into the Deferred Compensation Plan.
7.    Miscellaneous:  Fees are payable for meeting attendance, whether in person or by phone.  
8.    Additional Share Issuance.
a.    Upon the occurrence of a change of control, each non-employee Trustee shall be entitled to receive a number of fully-vested common shares (in addition to any shares or rights to shares on account of prior awards) having an aggregate value (based on the closing price of the common shares on the trading day immediately prior to the consummation of the change of control) equal to $70,000 multiplied by a fraction the numerator of which is the number of days that elapsed between the annual meeting of shareholders next preceding the date of consummation of the change of control and the date of consummation of the change of control, and the denominator of which is 365.
b.    Upon the death, disability or retirement of a non-employee Trustee, the non-employee Trust or his or her personal representative shall be entitled to a number of fully-vested common shares (in addition to any shares or rights to shares on account of prior awards) having an aggregate value (based on the closing price of the common shares on the trading day immediately prior to the death, disability or retirement) equal to $70,000 multiplied by a fraction the numerator of which is the number of days that elapsed between the annual meeting of shareholders next preceding the date of the death, disability or retirement of the non-employee Trustee and such date of death, disability or retirement, and the denominator of which is 365.
9.    Effective Date of Changes.  The change in the fee amount for attendance at Board Informational meetings to the level specified above shall be effective January 1, 2014.  The change in the Committee Chair fees and the dollar amount of the annual equity awards shall be effective for payments and awards from and after the 2014 annual shareholders meeting.wern-20131231ex102

EXHIBIT 10.2

WERNER ENTERPRISES, INC.
NON-EMPLOYEE DIRECTOR COMPENSATION

Non-employee members of the Board of Directors (the “Board”) of Werner Enterprises, Inc. (the “Company”) receive annual cash retainers and cash meeting fees summarized in the table below.  Such fees were approved on August 14, 2007 by the Compensation Committee (the “Committee”) of the Board.
	
			
	 
Fee or Retainer
	 
	

Amount

	Annual Retainer for Board Membership
	 
	$15,000
(paid in quarterly installments of $3,750 each)

	 
	 
	 

	Annual Retainer for the Audit Committee Chair
	 
	$10,000
(paid in quarterly installments of $2,500 each)

	 
	 
	 

	Annual Retainer for the Compensation Committee Chair
	 
	$5,000
(paid in quarterly installments of $1,250 each)

	 
	 
	 

	Board of Directors Meeting Fee
	 
	$2,000
(paid for each Board meeting)

	 
	 
	 

	Board Committee Meeting Fee
	 
	$2,000
(paid for each committee meeting not held on the same day as a Board meeting)

Non-employee directors are also eligible to receive equity awards, at the sole discretion of the Committee.  Equity awards are granted pursuant to the terms of the Werner Enterprises, Inc. Amended and Restated Equity Plan and either the Form of Notice of Grant of Nonqualified Stock Option or the Form of Restricted Stock Award Agreement, all of which are filed as exhibits to the Company’s Form 10-K.  To the extent required by SEC regulations, equity awards granted to the Company’s non-employee directors are reported on Form 4 filings with the Securities and Exchange Commission.

We also reimburse each non-employee director at cost for all of their reasonable out-of-pocket travel expenses incurred in connection with their attendance at Board and Board committee meetings and for other reasonable out-of-pocket expenses directly related to their Board and Board committee service.wern-20131231ex104

EXHIBIT 10.4

WERNER ENTERPRISES, INC.
NAMED EXECUTIVE OFFICER COMPENSATION

On December 2, 2013, the Compensation Committee (the “Committee”) of the Board of Directors of Werner Enterprises, Inc. (the “Company”) approved the following base salaries and performance-based compensation awards, in the form of annual cash bonuses, for the Company’s principal executive officer, principal financial officer and other named executive officers.  The 2013 annual cash bonuses were awarded under the Company’s discretionary annual cash bonus program and were paid on December 3, 2013.  Such performance-based compensation awards are determined at the sole discretion of the Committee.
 
	
					
	

Name
	 
	

Base Salary
	 
	

Cash Bonus

	Gary L. Werner
Chairman
	 
	

$505,000
	 
	

$300,000

	 
	 
	 
	 
	 

	Gregory L. Werner
Vice Chairman and Chief Executive Officer
	 
	

$720,000
	 
	

$350,000

	 
	 
	 
	 
	 

	Derek J. Leathers
President and Chief Operating Officer
	 
	

$519,000
	 
	

$320,000

	 
	 
	 
	 
	 

	John J. Steele
Executive Vice President, Treasurer and Chief Financial Officer
	 
	

$235,000
	 
	

$115,000

	 
	 
	 
	 
	 

	James A. Mullen
Executive Vice President and General Counsel
	 
	

$360,800
	 
	

$110,000

The named executive officers are also eligible to receive long-term incentive compensation, in the form of equity awards, at the sole discretion of the Committee.  Equity awards are granted pursuant to the terms of the Werner Enterprises, Inc. Amended and Restated Equity Plan and either the Form of Notice of Grant of Nonqualified Stock Option, the Form of Restricted Stock Award Agreement or the Form of Performance-Based Restricted Stock Award Agreement, all of which are filed as exhibits to the Company's Form 10-K.  To the extent required by SEC regulations, equity awards granted to the Company’s named executive officers are reported on Form 4 filings with the Securities and Exchange Commission.

In addition to the cash and equity compensation described above, certain of the Company’s named executive officers may also receive the following other compensation and perquisites: matching contributions to the Company’s 401(k) retirement savings plan and employee stock purchase plan, personal use of a Company-provided vehicle, country club membership, personal medical care membership program and income tax preparation services.  The named executive officers are also eligible to participate in voluntary health and welfare benefit programs sponsored by the Company.PRK-EX4.12-2013.12.31-10K

Exhibit 4.12

PARK NATIONAL CORPORATION
50 North Third Street
Post Office Box 3500
Newark, Ohio 43058-3500
(740) 349-8451
www.parknationalcorp.com

February 25, 2014

United States Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549

Re:     Park National Corporation
Commission File Number:  1-13006
Annual Report on Form 10-K for the Fiscal Year
Ended December 31, 2013

Ladies and Gentlemen:

Park National Corporation, an Ohio corporation (“Park”), is today filing with the Securities and Exchange Commission (the “SEC”) the Annual Report on Form 10-K of Park for the fiscal year ended December 31, 2013 (“Park's 2013 Form 10-K”).
Neither (i) Park nor (ii) any of Park's consolidated subsidiaries has outstanding any instrument or agreement with respect to its long-term debt under which the total amount of long‐term debt authorized exceeds 10% of the total assets of Park and Park's subsidiaries on a consolidated basis.  In accordance with the provisions of Item 601(b)(4)(iii) of SEC Regulation S-K, Park hereby agrees to furnish to the SEC, upon request, a copy of each instrument or agreement defining (i) the rights of holders of long-term debt of Park or (ii) the rights of holders of long-term debt of a consolidated subsidiary of Park, in each case which is not being filed or incorporated by reference as an exhibit to Park's 2013 Form 10-K.

Very truly yours,
PARK NATIONAL CORPORATION
/s/ Brady T. Burt    
Brady T. Burt
Chief Financial Officer, Secretary and Treasurer

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