PERFORMANCE SHARE UNIT AWARD AGREEMENT FOR COMPANY EMPLOYEES UNDER THE CAMDEN NATIONAL CORPORATION AMENDED AND RESTATED LONG-TERM PERFORMANCE SHARE UNIT PLANPerformance Share Unit Award Agreement • May 7th, 2020 • Camden National Corp • National commercial banks • Camden
Pursuant to the Camden National Corporation Amended and Restated Long-Term Performance Share Unit Plan, filed with the Commission on May 4, 2020 (the “LTIP”), Camden National Corporation (the “Company”) hereby grants, as of the Grant Date set forth above, an award of the target number of Performance Share Units listed above (an “Award”) to the Grantee named above. Each Award (measured at target) shall relate to one share of Common Stock, no par value per share (the “Stock”) of the Company and may pay out below, at or above target, depending on whether achievement of performance is determined to be at threshold, target or superior performance. Unless otherwise determined by the Compensation Committee (the “Committee”), no amounts will be payable under this Award if performance is determined by the Committee to be below threshold.
