Document:

Form of Restricted Stock Agreement

  
 Exhibit 10.3

 TOWER BANCORP, INC. 
 2010 STOCK INCENTIVE PLAN 
 FORM OF 

RESTRICTED STOCK AGREEMENT 
 THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) dated as of                  ,
20     (the “Date of Grant”), is delivered by Tower Bancorp, Inc., a Pennsylvania corporation (the “Company”), to
                             (the “Grantee”), who is an [employee/non-employee
director] of the Company or one of its subsidiaries. 
 WITNESSETH: 

WHEREAS, the Board of Directors of the Company adopted on March 30, 2010, with subsequent shareholder approval on
May 25, 2010, the Tower Bancorp, Inc. 2010 Stock Incentive Plan (the “Plan”); 
 WHEREAS, the Plan permits
the grant of restricted shares of the Company’s common stock, no par value per share (“Company Stock”), to designated Employees and Non-Employee Directors (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 Restricted Stock Grant (as defined in the Plan) 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 RESTRICTED STOCK. A restricted stock grant (“Restricted Stock Grant”) of
                             (    ) shares (“Restricted Shares”)
of Company Stock is hereby granted by the Company to the Grantee subject to the following terms and conditions and to the provisions of the Plan. 

  

	 	2.	TRANSFER RESTRICTIONS. None of the Restricted Shares shall be sold, assigned, pledged or otherwise transferred or disposed, voluntarily or involuntarily,
by the Grantee during the Restricted Period, except to a successor Grantee under Article 8 of the Plan. 

  

	 	3.	 RESTRICTION PERIOD. The restrictions set forth in Section 2 above shall lapse with respect to
[            ] of the Restricted Shares on each anniversary of the Date of Grant; provided, however, that the restrictions on all Restricted Shares

	 	 
shall immediately lapse upon the earliest to occur of: (i) the Grantee’s Retirement, death or Disability; or (ii) the occurrence of a Change of Control.

  

	 	4.	FORFEITURE. The Restricted Shares shall be forfeited to the Company and canceled immediately upon the Grantee’s termination of [employment with/
service as a director of] the Company and its subsidiaries prior to the date the restrictions lapse as provided in Section 3 above, unless the Committee (as defined in the Plan), in its sole discretion, determines otherwise. Simultaneously with
the Grantee’s execution and delivery of this Agreement, the Grantee shall deliver to the Company a stock power endorsed in blank relating to the Restricted Shares in the form attached hereto as Exhibit A. 

 

	 	5.	LEGEND. The share certificate evidencing the Restricted Shares, if any, issued hereunder during the Restriction Period shall be endorsed with the
following legend (in addition to any legend required under applicable state securities laws): 

 THE
TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE RESTRICTIONS, TERMS AND CONDITIONS (INCLUDING FORFEITURE PROVISIONS AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN THE TOWER BANCORP, INC. 2010 STOCK
INCENTIVE PLAN AND RELATED RESTRICTED STOCK AGREEMENT, AND SUCH RULES, REGULATIONS AND INTERPRETATIONS AS TOWER BANCORP, INC.’S BOARD OF DIRECTORS OR ANY COMMITTEE APPOINTED FOR PURPOSES OF ADMINISTERING AND INTERPRETING THE STOCK INCENTIVE
PLAN MAY ADOPT. COPIES OF THE PLAN, RESTRICTED STOCK AGREEMENT AND RULES, REGULATIONS AND INTERPRETATIONS, IF ANY, ARE ON FILE AT THE PRINCIPAL EXECUTIVE OFFICE OF TOWER BANCORP, INC. 

 

	 	6.	GRANTEE REPRESENTATIONS. In connection with the issuance of the Restricted Shares, Grantee represents the following: 

 

	 	(a)	Grantee hereby acknowledges that Grantee has been informed that, with respect to the issuance of the Restricted Shares, an election may be filed by Grantee with the
Internal Revenue Service, within thirty (30) days of the issuance of the Restricted Shares, electing pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), to be taxed currently on the fair
market value of such Restricted Shares on the Date of the Grant. Grantee acknowledges that Grantee has sought the advice of Grantee’s own tax advisors in connection with the issuance of the Restricted Shares and the advisability of such
election under Section 83(b) of the Code. GRANTEE ACKNOWLEDGES THAT IT IS GRANTEE’S SOLE RESPONSIBILITY TO FILE TIMELY THE ELECTION UNDER SECTION 83(b) AND THAT NEITHER THE COMPANY NOR ANY DIRECT OR INDIRECT SUBSIDIARY OF THE COMPANY HAS
ANY OBLIGATION WITH RESPECT THERETO. 

  
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	 	(b)	Grantee has reviewed with Grantee’s own tax advisors, the federal, state, local and foreign tax consequences of this Agreement and the transactions contemplated
hereby. Grantee is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Grantee understands that Grantee (and not the Company) shall be responsible for Grantee’s own tax liability
that may arise as a result of this Agreement and the transactions contemplated hereby. 

  

	 	(c)	Grantee has received, read and understood this Agreement, the Plan and the prospectus describing the material terms of the Plan, and agrees to abide by and be bound by
their respective terms and conditions. 

  

	 	7.	ADJUSTMENT OF SHARES. Notwithstanding anything contained herein to the contrary, in the event of any change in the outstanding Company Stock resulting
from a subdivision or consolidation of shares, whether through reorganization, recapitalization, share split, reverse share split, share distribution or combination of shares or the payment of a share dividend, the Restricted Shares shall be treated
in the same manner in any such transaction as other Company Stock. Any Company Stock or other securities received by the Grantee with respect to the Restricted Shares in any such transaction shall be subject to the restrictions and conditions set
forth herein. 

  

	 	8.	RIGHTS AS STOCKHOLDER. The Grantee shall be entitled to all of the rights of a stockholder with respect to the Restricted Shares including the right to
vote such shares and to receive dividends and other distributions payable with respect to such shares since the Date of Grant; provided, however, that Restricted Shares shall not be eligible to participate in any dividend reinvestment plan sponsored
by the Company for so long as the Restriction Period applies. 

  

	 	9.	ESCROW OF RESTRICTED SHARES. Restricted Shares shall be issued in uncertificated, book-entry form and registered in the Grantee’s name and shall be
held in escrow by the Company or its designee until all restrictions lapse or such shares are forfeited as provided herein; provided, however, that the terms of such escrow shall make allowance for the transactions contemplated by Section 7
above. Upon the written request of the Grantee, a certificate or certificates representing the Restricted Shares as to which restrictions have lapsed shall be delivered to the Grantee upon or after such lapse. 

 

	 	10.	 INCORPORATION OF PLAN BY REFERENCE. This Restricted Stock Grant is granted pursuant to the terms of the Plan, the terms of which are
incorporated herein by reference and this Restricted Stock Grant shall in all respects be interpreted in accordance with the Plan. 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 

  
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thereunder. In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall control. 

 

	 	11.	GOVERNMENT REGULATIONS. Notwithstanding anything contained herein to the contrary, the Company’s obligation to issue or deliver certificates
evidencing the Restricted Shares 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. 

 

	 	12.	WITHHOLDING TAXES. The Company shall have the right to require the Grantee to remit to the Company, or to withhold from other amounts payable to the
Grantee, as compensation or otherwise, an amount sufficient to satisfy all federal, state and local withholding tax requirements. 

  

	 	13.	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. 

  

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

  

	 	15.	SUCCESSORS AND ASSIGNS. This Agreement shall be binding on the Company’s successors and assigns. 

 

	 	16.	[NO EMPLOYMENT OR SERVICE CONTRACT. Nothing in this Agreement or in the Plan shall confer upon the Grantee any right to continue such Grantee’s
relationship with the Company, nor shall it give the Grantee the right to be retained in the employ of the Company or interfere with or otherwise restrict in any way the rights of the Company, which rights are hereby expressly reserved, to terminate
the Grantee’s employment at any time for any reason.] 

 [signature page follows] 

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

 

					
	ATTEST:	 		 	TOWER BANCORP, INC.
			
	  
	 		 	  

	                (Asst.) Secretary	 		 	Title:
	(SEAL)	 		 	
			
	Acknowledged and Agreed to by:	 		 	
			
	  
	 		 	
	Grantee	 		 	

  
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 EXHIBIT A

 IRREVOCABLE STOCK POWER 
 FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer to TOWER BANCORP, INC., pursuant to a Restricted Stock Agreement dated September 28, 2010,
                     shares of the common stock of Tower Bancorp, Inc. standing in the name of the undersigned on the books of said Company,
issued in uncertificated, book-entry form, and does hereby irrevocably constitute and appoint
                                        
attorney-in-fact to transfer said stock on the books of the Company with full power of substitution in the premises. This irrevocable stock power shall not be affected by the subsequent disability or incompetence of the undersigned. 

This irrevocable stock power may be used only in accordance with the terms of that certain Restricted Stock Agreement between Tower
Bancorp, Inc. and the undersigned dated September 28, 2010. 
  

									
	Dated:	 	  
	 		 	  

		 		 		 	            (Signature)
					
		 		 		 	Print Name:	 	  

 

					
	Signature Guaranteed by:	 	
		
	TOWER BANCORP, INC.	 	
			
	By:	 	  
	 	
	Name:	 	  
	 	
	Title:Letter of Understanding dated as of December 9, 2005

  
 Exhibit 10.22

 Letter of Understanding 
 Between Adept Technology & Parker Hannifin Corporation 
 This term sheet
defines the basic agreement between Adept Technology, Inc. and Parker Hannifin Corporation (hereafter known as Parker) for the co-development of products with Adept Technology, Inc. as specified. 

This Letter of Understanding is to act as a guiding document that will be used in the writing of a full Agreement, which will then supercede this
document. This document and future joint product developments to be held strictly confidential until Adept deems a public announcement appropriate. 
 Intent of this Partnership 
 Adept and Parker agree to enter a joint supply relationship in
which both companies will manufacture and supply products that create a complete robot system. The goal of this partnership is to leverage each company’s key competitive strengths, while delivering a complete robot solution to a customer from a
single vendor. A process will be instituted that will allow a customer to purchase a complete system from Adept, or optionally Parker. Adept will purchase components from Parker for the purpose of re-selling. Adept intends to make Parker its primary
supplier of Linear Actuators. At this time, Parker does not plan to buy or take ownership of Adept components but Adept is open to discussing the sale of Adept components to Parker if the interest arises. 

Products 
 The co-developed product shall
meet all specifications as described by Adept and agreed to by Parker. The initial product design, and all future product changes must be approved by Adept before shipment of product, per the agreed-upon approval process. Parker must utilize the
agreed-upon revision control method. 
 The product is to have an aesthetic look and style as specified by Adept Technology, with Parker’s
input. Product to be private labeled (Adept) or co-labeled (Adept and Parker for respective products) at Adept’s discretion. Parker-labeled co-developed product offerings must have different aesthetic styling cues, such as the color of motor
covers and end caps. 
 Availability 
 Parker agrees to make all products available to Adept for a period of 5 years minimum. After the 5 year period, Parker agrees to provide Adept with a minimum 2 years advance notice if Parker decides to
terminate supply of product in conjunction with Adept. Likewise, Adept agrees to provide a minimum of 2 years advance notice to Parker prior to terminating the purchase of products. 
 Parker agrees to provide spare parts and support to Adept for 7 years after termination of product. If Parker decides to terminate supply to Adept or fails to supply, Adept will have rights to purchase
all externally supplied extrusions, components, etc. Parker reserves an exception for purchased components in which they may have no control of supply. 
 Sales Channels / Right to sell 
 Parker has rights to sell the co-developed product directly
to any of their channel, customer, and geographic markets, except direct competitors of Adept. Parker may sell products with or without Adept controls. 
 Adept owns designs for the following components, and Parker agrees not to sell or transfer these items or the designs to companies other than Adept without Adept’s express written consent.

  
 Adept-specified motor
covers 
 Adept-specified cable solutions 
 SmartAmp mounting patterns 
 Parker agrees not to sell any portion of the co-developed product
line to any companies considered as direct competitors to Adept. Companies that Adept currently views as competitors include: Epson, Intelligent Actuator, Yamaha, Bosch, Motoman, Denso, NSK, Montech, Mitsubishi, Fanuc, and Hirata. This list is
subject to change, and will be updated on a regular basis and provided to Parker. Additionally, Parker agrees not to sell the co-developed product line to Rockwell Corporation in multi-axis robot configurations before September 1, 2007.

 Parker agrees to consider offering Adept’s control solutions to their Worldwide distribution channel. 

Customer Support 
 For
all systems sold by Adept, Adept agrees to provide customer support for the complete system. Adept will complete all Adept-supplied support at its own expense, and there will be no charge to Parker. 

System Build 
 Parker agrees to provide a
proposal for complete system build and configuration at their facility, using their personnel. This would entail receiving the Adept components and controls, configuring the systems to order, assembling the system, crating and shipping directly to
Adept customers. Parker also agrees to provide a proposal for system build in Europe for European market. Adept agrees to provide training and assistance to Parker as required. Proposals should provide concept, implementations specifics, and costs.

 Component Suppliers 
 Parker
agrees to add certain component suppliers to their approved supplier list, based upon Adept’s recommendation and Parker’s acceptance of the supplier. 
 Pricing 
 Adept agrees to provide annual forecasts of product sales. These forecasts will be
used to set manufacturing plans and inventory and Kanban levels. 
 Parker agrees to provide pricing tables for all modules, based upon combined
module volumes of 800, 1250, 1500, and 2000 units per year. 
 Parker agrees to maintain pricing for period of 3 years from date of contract.
Adept agrees to allow for increases in raw materials or purchased components. In such a case, Parker may raise pricing to Adept by the amount of the material or component increase, plus 10% to cover overhead, provided adequate documentation is made
available for review by Adept. 
 Parker guarantees Adept will always receive pricing on the co-developed product that is below the sale price
to any Parker Distributor. This includes all co-developed linear modules and all spare parts except for components used in other Parker product lines (sensors, encoders, etc.). Parker reserves the right to ask for an exception to this clause in the
unlikely case it is desired for sales situations that are not competitive with Adept. 
 For the purpose of design considerations, Parker agrees
to share relative cost information of different design options. Parker is encouraged to suggest changes that result in price reductions. Adept to do the same. Parker and Adept to work out mutually beneficial cost-improvement sharing program.

 If Parker decides to cease production, or cannot produce, the co-developed product on its own, then Adept reserves the right to purchase the
design and manufacturing rights for the Parker’s actual cost of the NRE and tooling expenses. This cost is to be determined prior to final contract. 

  
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 Warranty 

Parker agrees to provide a 24 month module exchange warranty to Adept to cover defects in parts, materials, or workmanship. Warranty period commences when
product is shipped to Adept’s customer. Adept agrees to limit Parker’s total warranty period to a maximum of 27 months from date of shipment to Adept (up to 3 months while in Adept’s possession, and 24 months at the customer).

 Parker agrees to provide timely failure analysis report on any failed part when requested by Adept 

Engineering Support 
 Parker agrees to
aid Adept on Engineering issues / concerns associated with the product. 
 Delivery 

Parker agrees to make best efforts to provide normal deliveries of 5 to 15 business days for majority of products. Parker agrees to make best efforts to
maintain component stock and staff, and facilities to accomplish this, at their cost. 
 Cooperative Marketing 

Parker agrees to participate in a cooperative marketing program to include such efforts as press releases, advertising, and joint trade show events in
USA and Europe 
 Other Deliverables 
  

	•	 	 Parker agrees to provide Engineering drawings in a mutually agreeable Format for every - product (top level components) 

 

	•	 	 Parker agrees to provide 2D and 3D CAD models of each co-developed product. 

 

	•	 	 Parker agrees to provide manuals, data sheets, and documentation in Adobe FrameMaker or Microsoft Word format 

 

	•	 	 Parker agrees to make available any engineering tools it creates for co-developed product, including performance analyzer, and life estimator. At a
minimum, a simple spreadsheet calculator is required for cycle speed, and predicted life based upon loading. 

  

									
	By:	 	 /s/ Robert R. Strickland
	  		 	By:	 	 /s/ Roy C. Lamothe

					
	Print Name:	 	 Robert R. Strickland
	  		 	Print Name:	 	 Roy C. Lamothe

					
	Title:	 	 VP Finance & CFO
	  		 	Title:	 	 Business Unit Manager

					
	Date:	 	 Dec 9, 2005
	  		 	Date:	 	 December 02, 2005

					
	Company:	 	 Adept Technology, Inc.
	  		 	Company:	 	 Parker Hannifin Corp

  
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