SEC Contract Filing

Filing Date: 2016-02-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v432061_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CITIZENS &amp; NORTHERN CORPORATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1995 STOCK INCENTIVE PLAN (As Amended)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RESTRICTED STOCK AGREEMENT &ndash;
NON-EXECUTIVE OFFICER</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">RESTRICTED STOCK AGREEMENT dated as of the 5<SUP>th</SUP> day
of January, 2016, by and between Citizens &amp; Northern Corporation (the &quot;Corporation&quot;) and <B>___________________</B>,<B>
</B>an employee of the Corporation or of a subsidiary (the &quot;Recipient&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Citizens &amp; Northern Corporation 1995 Stock
Incentive Plan (the &quot;Plan&quot;), as amended, the Compensation Committee of the Board of Directors (the &quot;Committee&quot;)
has determined that the Recipient is to be granted, on the terms and conditions set forth herein, <B>_____ </B>Restricted Shares
of the Corporation's common stock and hereby grants such Restricted Shares.</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Number of Shares and Price. </B>Restricted Stock shall consist of shares of Stock that will be acquired by and issued to
the Recipient at a designated time approved by the board of directors, for no purchase price, and under and subject to such transfer,
forfeiture and other restrictions, conditions or terms as shall be determined by the Committee, including but not limited to prohibitions
against transfer and substantial risks of forfeiture within the meaning of Section 83 of the Code.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Rights of Recipient. </B>Except as otherwise provided in the Plan or the Restricted Stock Agreement, a Recipient of shares
of Restricted Stock shall have all the rights as does a holder of Stock, including without limitation the right to vote such shares
and receive dividends with respect thereto; however, during the time period of any restrictions, conditions or terms applicable
to such Restricted Stock, the shares thereof and the right to vote the same and receive dividends thereon shall not be sold, assigned,
transferred, exchanged, pledged, hypothecated, encumbered or otherwise disposed of except as permitted by the Plan or the Restricted
Stock Agreement. Cash dividends shall be paid out and shall not participate in Dividend Reinvestment. Stock dividends resulting
in whole shares shall be added to the shares held in the Restricted Account and shall be distributed to the Recipient with subsequent
distributions of any Award for which they accrued. Partial shares that result from any stock dividend shall be paid to the Recipient
in cash at the time of the payment of the stock dividend. If the Restricted Shares expire prior to the satisfaction of performance
standards set forth in section 4 or due to forfeiture as set forth in section 5, all shares accrued by virtue of stock dividends
shall be forfeited.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Holding of Restricted Shares. </B> Each certificate for shares of Restricted Stock shall be deposited with the Secretary
of the Corporation, or the office thereof, and shall bear a legend in substantially the following form and content:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt"></TD><TD><B><I>This Certificate and the shares of Stock hereby represented are subject to the provisions of the Corporation&rsquo;s
Stock Incentive Plan and a certain agreement entered into between the owner and the Corporation pursuant to said Plan. The release
of the Certificate and the shares of Stock hereby represented from such provision shall occur only as provided by said Plan and
Agreement, a copy of which are o