Document:

Exhibit
10.9

 

THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN
ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF
UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE MAKER THAT SUCH
REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

$1,500,000.00

Issue
Date: March 6, 2020

No.
A-1

New
York, New York

 

FinTech
Acquisition Corp. III (the “Maker”) promises to pay to the order of Betsy Z. Cohen and Daniel G. Cohen (each
a “Payee” and together the “Payees”) the principal sum of up to One Million Five Hundred Thousand
Dollars ($1,500,000.00) (the “Maximum Principal Amount”) in lawful money of the United States of America, on
the terms and conditions described below.

 

1. Principal.
The Payees shall be jointly obligated to lend to the Maker amounts up to the Maximum Principal Amount. The principal balance of
this Note, as reflected on Schedule A hereto (such schedule to be updated from time to time by Maker as amounts are borrowed
by the Payees up to the Maximum Principal Amount) shall be repayable on the date (the “Maturity Date”) on which
Maker consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses (the “Initial Business Combination”). In the event the Maker does not consummate
an Initial Business Combination, Maker may use a portion of any working capital held outside the Trust Account (as defined below)
to repay the balance of this Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are
insufficient to repay this Note, the unpaid amounts shall be forgiven.

 

2.
Interest. This Note shall bear no interest.

 

3. Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges and
finally to the reduction of the unpaid principal balance of this Note. All such payments shall be made to the Payees pro rata
in accordance with their respective amounts loaned as set forth on Schedule A.

 

4. Conversion.
At the Maturity Date, by providing written notice to Maker, any Payee may elect to convert any portion or all of such Payee’s
amount outstanding under this Note into warrants to purchase shares of common stock of the entity surviving or resulting from
the Initial Business at a conversion price of $1.00 per warrant. The terms and conditions of such warrants shall be as described
in the registration statement and prospectus filed with the Securities and Exchange Commission in connection with the Maker’s
initial public offering (together, the “Registration Statement”).

 

5.
Events of Default. The following shall constitute Events of Default:

 

(a) Failure
to Make Required Payments. Failure by Maker to pay the principal of, or other payments on, this Note within five (5) business
days following the date when due.

 

6.
Remedies.

 

(a)
Upon the occurrence of an Event of Default specified in Section 5(a), the Payees may, by written notice to Maker, declare
this Note to be due and payable, whereupon the principal amount of this Note, and all other amounts payable under this Note,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary
notwithstanding.

  

     

     

    

 

7. Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to this Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy
or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

8. Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payees, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payees with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to them or affecting their liability hereunder.

 

9. Notices.
Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested, (ii) personally
delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery,
(iv) sent by facsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate
by notice in accordance with this Section:

 

If
to Maker:

 

FinTech
Acquisition Corp. III

2929
Arch Street, Suite 1703

Philadelphia,
PA 19104-2870

Attention:
James McEntee

Email:
jmce@stbwell.com

 

If
to Payee:

 

Betsy
Z. Cohen

c/o
Cohen and Company

3
Columbus Circle, 24th Floor

New
York, NY 10019

 

and

 

Daniel
G. Cohen

c/o
Cohen and Company

3
Columbus Circle, 24th Floor

New
York, NY 10019

 

Notice
shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission
confirmation, (iii) the date on which an e- mail transmission was received by the receiving party’s on -line access provider,
(iv) the date reflected on a signed delivery receipt, or (vi) two (2) business days following tender of delivery or dispatch by
express mail or delivery service.

 

10. Construction.
THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF
LAW PROVISIONS THEREOF.

 

11. Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

 

12. Trust
Waiver. Notwithstanding anything herein to the contrary, each Payee hereby waives any and all right, title, interest or
claim of any kind (“Claim”) in or to any distribution of the trust account (the “Trust
Account”) in which the proceeds of Maker’s initial public offering and the proceeds of the sale of the
securities issued in a private placement consummated concurrently with the initial public offering have been deposited, as
described in greater detail in the Registration Statement, and hereby agrees not to seek recourse, reimbursement, payment or
satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

13.
Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the
written consent of the Maker and the Payees.

 

14. Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of
law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void.

  

[Signature
Page Follows]

 

    2

     

    

 

IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed the day and year first
above written.

  

	 	FINTECH ACQUISITION CORP. III
	 	 
	 	By:	/s/ James J. McEntee
	 	Name: 	 James J. McEntee, III
	 	Title:	 President and Chief Financial Officer

  

    3

     

    

 

SCHEDULE
A

  

	Date	 	Payee	 	Principal
    Amount
	March
    9, 2020	 	Daniel
    Cohen	 	250,000.00
	March
    9, 2020	 	Betsy
    Cohen	 	250,000.00

 

 

4mrbk_ex10.1_3 12 2020

		
			MERIDIAN CORPORATION
		

		
			 
		

		
			SUPPLEMENTAL EXECTUIVE RETIREMENT
		

		
			DEFERRED COMPENSATION PLAN
		

		
			 
		

		
			AMENDMENT 
		

		
			 
		

		
			WHEREAS, Meridian Corporation maintains the Meridian Bank Supplemental Executive Retirement Deferred Compensation Plan (the “Plan”) for the benefit of a select group of management or highly compensated employees of Meridian Corporation, its subsidiaries and affiliates; and
		

		
			 
		

		
			WHEREAS, Meridian Corporation wishes to amend the Plan to permit each participant thereunder to direct that his or her account tracks an investment in common stock of Meridian Corporation;
		

		
			 
		

		
			NOW, THEREFORE, the Plan is hereby amended, effective March 12, 2020, as follows:
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			The following Section 1.6A is added immediately following Section 1.6:

		
			 
		

		
			“1.6ACompany Stock
		

		
			 
		

		
			Common stock of Meridian Corporation.”
		

		
			 
		

			
	
			
				 2.
			The following Section 1.17A is added immediately following Section 1.17:

		
			 
		

		
			“1.17AInvestment Election Period
		

		
			 
		

		
			A portion or portions of each calendar year, as designated by the Administrator in its sole and absolute discretion.”
		

		
			 
		

			
	
			
				 3.
			Section 5.2 of the Plan is amended by re-designating Subsection (b) as Subsection (c) and adding the following Subsection (b) immediately after Subsection (a): 

		
			 
		

		
			“(b)Notwithstanding Subsection (a):
		

		
			 
		

			
	
			
				 (1)
			

			
	
			
			During each Investment Election Period, a Participant may irrevocably elect that all or a portion of his or her Account balance shall be deemed to be invested in Company Stock and, in the event of such election, the Participant’s Account shall be credited with the number of shares of Company Stock equal to such portion (expressed in dollars) of the Account balance divided by the Fair Market Value of one share of Company Stock on the day of such election. Such number of shares shall be recorded as Company Stock units in the Participant’s Account, solely for bookkeeping purposes.

		
			 
		

		
			

		 

		

			-1-

		

		

			 

		

		

			
	
			
				 (2)
			

			
	
			
			During each Investment Election Period, a Participant may elect that all or a portion of future Deferrals, Matching Contributions, Employer Discretionary Contributions and/or Employer Supplemental Contributions be deemed to be invested in Company Stock and, in the event of such election, the Participant’s Account shall be credited with the number of shares of Company Stock equal to such portion of such contributions (expressed in dollars) divided by the Fair Market Value of one share of Company Stock on the day of such contribution(s). Such number of shares shall be recorded as stock units in the Participant’s Account, solely for bookkeeping purposes. Such election may be changed or revoked only during any subsequent Investment Election Period and only with respect to contributions made thereafter.

		
			 
		

			
	
			
				 (3)
			

			
	
			
			The number of Company Stock units credited to a Participant’s Account pursuant to the Participant’s elections under Paragraphs (1) and (2) may not be reduced except as provided in Paragraph (4). 

		
			 
		

			
	
			
				 (4)
			

			
	
			
			The number of Company Stock units credited to a Participant’s Account shall be appropriately adjusted to reflect stock splits, stock dividends, and other like adjustments in Company Stock. Each number of Company Stock units credited to a Participant’s Account shall be credited with the number of shares of Company Stock that could be purchased with an amount equal to the cash dividends that would be payable on the number of shares of Company Stock, determined by dividing the amount of any cash dividend (expressed in dollars) by the Fair Market Value of Company Stock on the day that such dividend is paid.

		
			 
		

			
	
			
				 (5)
			

			
	
			
			For purposes of this Section 5.2, “Fair Market Value” of Company Stock as of any particular day means the closing price of Company Stock on the principal market on which Company Stock is traded for such day, or, if such day is not a trading day on such market, the next trading day.”

		
			 
		

			
	
			
				 4.
			Article 6 of the Plan is amended by adding the following Section 6.18 at the end thereof: 

		
			 
		

		
			“6.18 Mode of Distribution
		

		
			 
		

		
			With respect to any payment to a Participant under this Article, the Participant may elect to receive such payment in the form of cash or Company Stock provided however that the Participant may not receive shares of Company Stock in excess of the number of Company Stock units credited to the Participant’s Account. Each share of Company Stock paid shall reduce by one the number of Company Stock units credited to the Participant’s Account.”
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			-2-

		

		

			 

		

		

			
	
			
				 5.
			Article 10 of the Plan is amended by adding the following Section 10.19 at the end thereof: 

		
			“10.19Limitations for Section 16b Insiders
		

		
			 
		

		
			Notwithstanding any provision of the Plan, the Company or the Administrator may impose such limitations and restrictions as it deems necessary or appropriate to comply with an exemption to the short-swing profit recover rules of Section 16 of the Securities Exchange Act of 1934.”
		

		
			 
		

		
			The Plan shall otherwise remain in full force and effect.
		

		
			 
		

		
			 
		

		
			Executed pursuant to authority of the Board of Directors this 12th day of March, 2020.
		

		
			 
		

		
			
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 /s/ Chris Annas

				
	
					
						 

					
					
						Name:

					
					
						 Chris Annas

				
	
					
						 

					
					
						Title:

					
					
						 President & CEO

				

		
			 
		

		 

		

			-3-

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