Phantom Stock Appreciation unit Granted by SALISBURY BANCORP, INC. under the SALISBURY BANCORP, INC. 2015 PHANTOM STOCK APPRECIATION UNIT AND LONG-TERM INCENTIVE PLANPhantom Stock • January 5th, 2015 • Salisbury Bancorp Inc • Savings institution, federally chartered
This phantom stock appreciation unit agreement (“Agreement”) is and shall be subject in every respect to the provisions of 2015 Phantom Stock Appreciation Unit and Long-Term Incentive Plan (the “Plan”) of Salisbury Bancorp, Inc. (the “Company”). The individual recipient of this Agreement (the “Participant”) hereby accepts the award (“Award”) of phantom stock appreciation units (“Phantom Stock Appreciation Units”) made hereunder, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the committee appointed to administer the Plan (“Committee”) or the Board of Directors of the Company (“Board”) shall be final, binding and conclusive upon the Participant and the Participant’s heirs, legal representatives, successors and permitted assigns. A copy of the Plan has been provided to the Participant. Except where the context otherwise requires, the term “Company” shall include the parent a
