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<SEC-DOCUMENT>0000950123-10-021317.txt : 20100305
<SEC-HEADER>0000950123-10-021317.hdr.sgml : 20100305
<ACCEPTANCE-DATETIME>20100305095306
ACCESSION NUMBER:		0000950123-10-021317
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100419
FILED AS OF DATE:		20100305
DATE AS OF CHANGE:		20100305
EFFECTIVENESS DATE:		20100305

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PARK NATIONAL CORP /OH/
		CENTRAL INDEX KEY:			0000805676
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				311179518
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13006
		FILM NUMBER:		10659213

	BUSINESS ADDRESS:	
		STREET 1:		50 NORTH THIRD ST
		CITY:			NEWARK
		STATE:			OH
		ZIP:			43055
		BUSINESS PHONE:		6143498451

	MAIL ADDRESS:	
		STREET 1:		P O BOX 3500
		CITY:			NEWARK
		STATE:			OH
		ZIP:			43058-3500
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>c97199def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
<TITLE>DEF 14A</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE 14A</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt">Proxy Statement Pursuant to Section&nbsp;14(a) of the Securities<BR>
Exchange Act of 1934 (Amendment No.&nbsp;__)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by the Registrant <FONT face="wingdings" size="2">&#254;</FONT><BR>
Filed by a Party other than the Registrant <FONT face="wingdings" size="2">&#111;</FONT>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box:

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Preliminary Proxy Statement</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-</B><B>6(e)(2)</B><B>)</B></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#254;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Definitive Proxy Statement</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Definitive Additional Materials</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Soliciting Material Pursuant to &#167;240.14a-12</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt">&nbsp;</DIV>

<DIV align="center">
Park National Corporation</DIV>
<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Name of Registrant as Specified In Its Charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt">&nbsp;</DIV>

<DIV align="center">
</DIV>
<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment of Filing Fee (Check the appropriate box):

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#254;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>No fee required.</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(1)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Title of each class of securities to which transaction applies:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(2)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Aggregate number of securities to which transaction applies:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(3)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Per unit price or other underlying value of transaction computed pursuant to Exchange Act
Rule&nbsp;0-11 (set forth the amount on which the filing fee is calculated and state how it was
determined):</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(4)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Proposed maximum aggregate value of transaction:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(5)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Total fee paid:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Fee paid previously with preliminary materials.</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="1%" nowrap align="left" valign="top">
<FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2)
and identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of its
filing.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(1)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Amount Previously Paid:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(2)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Form, Schedule or Registration Statement No.:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(3)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Filing Party:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">(4)</TD>
<TD width="1%">&nbsp;</TD>
<TD>Date Filed:</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
<TD width="2%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD style="font-size: 10pt"><DIV align="left">

</DIV></TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PARK NATIONAL CORPORATION</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt">50 North Third Street
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt">Post Office Box 3500<BR>
Newark, Ohio 43058-3500<BR>
(740)&nbsp;349-8451<BR>
www.parknationalcorp.com<BR><BR>

<B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS<BR>
To Be Held Monday, April&nbsp;19, 2010</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Dear Fellow Shareholders:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">NOTICE IS HEREBY GIVEN that the Annual Meeting of Shareholders (the &#147;2010 Annual Meeting&#148;) of
Park National Corporation (&#147;Park&#148;) will be held at the offices of The Park National Bank, 50 North
Third Street, Newark, Ohio 43055, on Monday, April&nbsp;19, 2010, at 2:00 p.m., Eastern Daylight Saving
Time, for the following purposes:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To elect five directors, each to serve for a term of three years to
expire at the Annual Meeting of Shareholders to be held in 2013.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To approve, in a non-binding advisory vote, Park&#146;s executive
compensation as disclosed in the accompanying proxy statement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To ratify the appointment of Crowe Horwath LLP as the independent
registered public accounting firm of Park for the fiscal year ending December
31, 2010.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To transact any other business which properly comes before the 2010
Annual Meeting or any adjournment thereof. Park&#146;s Board of Directors is not
aware of any other business to come before the 2010 Annual Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If you were a holder of record of common shares of Park at the close of business on February
26, 2010, you will be entitled to vote in person or by proxy at the 2010 Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">You are cordially invited to attend the 2010 Annual Meeting. Your vote is important,
regardless of the number of common shares you own. Whether or not you plan to attend the 2010
Annual Meeting in person, it is important that your common shares be represented. Please complete,
sign, date and return your proxy card. A return envelope, which requires no postage if mailed in
the United States, has been provided for your use. Alternatively, you may vote by telephone.
Please see the accompanying proxy statement and proxy card for details about voting by telephone.
If you later decide to revoke your proxy for any reason, you may do so in the manner described in
the accompanying proxy statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">Please vote as soon as possible.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By Order of the Board of Directors,</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><IMG src="c97199c9719901.gif" alt="-s- David L. Trautman"></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March&nbsp;5, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DAVID L. TRAUTMAN</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>President and Secretary</I></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B><I>To obtain directions to attend the 2010 Annual Meeting and vote in person, please call Leda
Rutledge at (740)&nbsp;322-6828 or Renae Buchanan at (740)&nbsp;349-0428.</I></B>
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<!-- TOC -->
</DIV>
<DIV align="left">
<A name="tocpage"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>TABLE OF CONTENTS</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="95%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#101">GENERAL INFORMATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#102">Mailing</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#103">Delivery of Proxy Materials to Multiple Shareholders Sharing the Same Address</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#104">VOTING INFORMATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#105">Who can vote at the Annual Meeting?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#106">How do I vote?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#107">How will my common shares be voted?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#108">What if my common shares are held through the Park National Corporation Employees
Stock Ownership Plan?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#109">How do I change or revoke my proxy?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#110">If I vote in advance, can I still attend the Annual Meeting?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#111">What constitutes a quorum and how many votes are required with respect to the
proposals presented at the Annual Meeting?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#112">Routine and Non-Routine Proposals</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#113">Vote Required with Respect to the Proposals</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#114">Who pays the cost of proxy solicitation?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#115">Who should I call if I have questions concerning this proxy solicitation and the
proposals to be considered at the Annual Meeting?</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#116">NOTICE REGARDING INTERNET AVAILABILITY OF PROXY MATERIALS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#117">CONSOLIDATION OF OHIO BANKING OPERATIONS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#118">PARTICIPATION IN CAPITAL PURCHASE PROGRAM ENACTED AS PART OF TROUBLED ASSETS RELIEF PROGRAM</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#119">PROPOSAL 1 &#151; ELECTION OF DIRECTORS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#120">Recommendation and Vote</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#121">BENEFICIAL OWNERSHIP OF PARK COMMON SHARES</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#122">Section&nbsp;16(a) Beneficial Ownership Reporting Compliance</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#123">CORPORATE GOVERNANCE</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#124">Code of Business Conduct and Ethics</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#125">Park Improvement Line</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#126">Independence of Directors</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#127">Risk Management</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#128">Nominating Procedures</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#129">Communications with the Board of Directors</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#130">Transactions with Related Persons</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#131">Policies and Procedures with Respect to Related Person Transactions</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#132">Sale of Subordinated Notes</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#133">Banking Transactions</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#134">BOARD OF DIRECTORS STRUCTURE AND MEETINGS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#135">Meetings of the Board of Directors and Attendance at Annual Meetings of Shareholders</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#136">Board Leadership</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#137">Committees of the Board</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#138">Audit Committee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#139">Compensation Committee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#140">Executive Committee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#141">Investment Committee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#142">Nominating Committee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#143">Risk Committee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#144">COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->

    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#145">EXECUTIVE OFFICERS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->i<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="95%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#146">EXECUTIVE COMPENSATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#147">Compensation Discussion and Analysis</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#148">Compensation Philosophy and Objectives</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#149">Compensation-Setting Process</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#150">Elements of the Compensation Program</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#151">Other Policies</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#152">2010 Pay Decisions</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#153">Compensation Committee Report</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#154">Risk Analysis</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#155">Earnings Analysis</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#156">Summary Compensation Table</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#157">Grants of Plan-Based Awards</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#158">Outstanding ISOs at Fiscal Year-End</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#159">Exercises of ISOs</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#160">Post-Employment Payments and Benefits</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#161">Pension and Supplemental Benefits</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#162">Nonqualified Deferred Compensation</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#163">Potential Payouts upon Termination of Employment or Change in Control</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#164">Stock Option Plan</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#165">Supplemental Executive Retirement Benefits</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#166">Other Potential Payouts</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#167">DIRECTOR COMPENSATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#168">Annual Retainers and Meeting Fees</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#169">Split-Dollar Life Insurance Policies</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#170">Change in Control Payments</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#171">Other Compensation</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#172">Director Compensation for 2009</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#173">PROPOSAL 2 &#151; NON-BINDING ADVISORY VOTE ON PARK&#146;S EXECUTIVE COMPENSATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#174">Recommendation and Vote</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#175">PROPOSAL 3 &#151; RATIFICATION OF THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#176">Recommendation and Vote Required to Ratify Appointment of Crowe Horwath</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#177">AUDIT COMMITTEE MATTERS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#178">Report of the Audit Committee for the Fiscal Year Ended December&nbsp;31, 2009</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#179">Role of the Audit Committee, Independent Registered Public Accounting Firm and
Management</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#180">Management&#146;s Representations and Audit Committee Recommendation</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#181">Pre-Approval of Services Performed by Independent Registered Public Accounting Firm</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#182">Fees of Independent Registered Public Accounting Firm</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#183">Audit Fees</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#184">Audit-Related Fees</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#185">Tax Fees</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#186">All Other Fees</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#187">SHAREHOLDER PROPOSALS FOR 2011 ANNUAL MEETING</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#188">OTHER MATTERS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->ii<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PARK NATIONAL CORPORATION<BR>
50 North Third Street<BR>
Post Office Box 3500<BR>
Newark, Ohio 43058-3500<BR>
(740)&nbsp;349-8451<BR>
www.parknationalcorp.com</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PROXY STATEMENT<BR>
Dated March&nbsp;5, 2010</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>ANNUAL MEETING OF SHAREHOLDERS<BR>
To Be Held April&nbsp;19, 2010</B>
</DIV>

<DIV align="left">
<A name="101"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>GENERAL INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">We are sending this proxy statement and the accompanying proxy card to you as a shareholder of
Park National Corporation (&#147;Park&#148;), in connection with the solicitation of proxies for the Annual
Meeting of Shareholders (the &#147;Annual Meeting&#148;) to be held on Monday, April&nbsp;19, 2010, at 2:00 p.m.,
Eastern Daylight Saving Time, or at any adjournment thereof. The Annual Meeting will be held at
the offices of The Park National Bank, 50 North Third Street, Newark, Ohio 43055. Park&#146;s Board of
Directors is soliciting proxies for use at the Annual Meeting or any adjournment thereof. This
proxy statement summarizes information that you will need in order to vote.
</DIV>
<DIV align="left">
<A name="102"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Mailing</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">We mailed this proxy statement and the accompanying proxy card on or about March&nbsp;5, 2010 to
all shareholders entitled to vote their common shares at the Annual Meeting. The common shares are
the only shares of Park&#146;s capital stock entitled to vote at the Annual Meeting. We also sent
Park&#146;s 2009 Annual Report with this proxy statement. Audited consolidated financial statements for
Park and our subsidiaries for the fiscal year ended December&nbsp;31, 2009 (the &#147;2009 fiscal year&#148;) are
included in Park&#146;s 2009 Annual Report.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>Additional copies of Park&#146;s 2009 Annual Report and copies of Park&#146;s Annual Report on Form&nbsp;10-K
for the 2009 fiscal year may be obtained, without charge, by sending a written request to: David
L. Trautman, President and Secretary, Park National Corporation, 50 North Third Street, Post Office
Box 3500, Newark, Ohio 43058-3500.</B>
</DIV>
<DIV align="left">
<A name="103"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Delivery of Proxy Materials to Multiple Shareholders Sharing the Same Address</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Periodically, Park provides each registered holder of common shares at a shared address, not
previously notified, with a separate notice of Park&#146;s intention to household proxy materials. The
record holder notifies beneficial shareholders (those who hold common shares through a broker, a
financial institution or another record holder) of the householding process. Only one copy of this
proxy statement, the notice of the Annual Meeting and Park&#146;s 2009 Annual Report is being delivered
to previously notified multiple registered holders of common shares who share an address unless
Park has received contrary instructions from one or more of the registered holders of common
shares. A separate proxy card is being included for each account at the shared address.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Registered holders of common shares who share an address and would like to receive a separate
copy of Park&#146;s 2009 Annual Report, a separate notice of the Annual Meeting and/or a separate proxy
statement for the Annual Meeting, or who have questions regarding the householding process,
may contact Park&#146;s transfer agent and registrar, The Park National Bank, c/o First-Knox Division,
by calling (800)&nbsp;837-5266, ext. 5208, or forwarding a written request addressed to the First-Knox
Division, Attention: Debbie Daniels, P.O. Box 1270, One South Main Street, Mount Vernon, Ohio
43050-1270. Promptly upon request, a separate copy of Park&#146;s 2009 Annual Report, a separate notice
of the Annual Meeting and/or a separate copy of the proxy statement for the Annual Meeting will be
sent. By contacting the First-Knox National Division, registered holders of common shares sharing
an address can also (i)&nbsp;notify Park that the registered shareholders wish to receive separate
annual reports, proxy statements and/or Notices of Internet Availability of Proxy Materials, as
applicable, in the future or (ii)&nbsp;request delivery of a single copy of annual reports, proxy
statements and/or Notices of Internet Availability of Proxy Materials, as applicable, in the future
if they are receiving multiple copies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Beneficial holders of common shares should contact their brokers, financial institutions or
other record holders for specific information about the householding process as it applies to their
accounts.
</DIV>
<DIV align="left">
<A name="104"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>VOTING INFORMATION</B>
</DIV>

<DIV align="left">
<A name="105"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Who can vote at the Annual Meeting?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Only holders of common shares of record at the close of business on February&nbsp;26, 2010 are
entitled to receive notice of and to vote at the Annual Meeting. At the close of business on
February&nbsp;26, 2010, there were 14,882,770 common shares outstanding and entitled to vote. The
common shares are the only shares of Park&#146;s capital stock entitled to vote at the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Each holder of common shares is entitled to one vote for each common share held on February
26, 2010. A shareholder wishing to exercise cumulative voting with respect to the election of
directors must notify the President and Secretary of Park in writing before 2:00 p.m., Eastern
Daylight Saving Time, on April&nbsp;17, 2010. If cumulative voting is requested and if an announcement
of such request is made upon the convening of the Annual Meeting by the chairman or the secretary
of the meeting or by or on behalf of the shareholder requesting cumulative voting, you will have
votes equal to the number of directors to be elected, multiplied by the number of common shares
owned by you, and will be entitled to distribute your votes among the candidates for election as
directors as you see fit.
</DIV>
<DIV align="left">
<A name="106"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>How do I vote?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If you are a shareholder of record (that is, if your common shares are registered with Park in
your own name), your common shares may be voted by one of the following methods:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by traditional paper proxy card;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by submitting a proxy by telephone; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in person at the Annual Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If your common shares are registered in the name of a broker, a financial institution or other
nominee (i.e., you hold your common shares in &#147;street name&#148;), your nominee may be participating in
a program that allows you to submit voting instructions by telephone or via the Internet.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B><I>Submitting a Proxy by Telephone. </I></B>If you are a shareholder of record of Park residing in the
United States or Canada, you may submit a proxy by telephone by following the instructions included
with your proxy card. The last-dated proxy you submit (by any means) will supersede any previously
submitted proxy. Also, if you submit a proxy by telephone and later decide to attend the Annual
Meeting, you may revoke your previously submitted proxy and vote in person at the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The deadline for submitting a proxy by telephone as a shareholder of record is 11:59&nbsp;p.m.,
Eastern Daylight Saving Time, on April&nbsp;18, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B><I>Submitting Voting Instructions by Telephone or via the Internet. </I></B>If you hold your common
shares in &#147;street name&#148; and your nominee participates in a program that allows you to submit voting
instructions by telephone or via the Internet, the form your nominee sent you will provide details
for submitting your voting instructions by telephone or via the Internet. Please consult the form
provided by your nominee for information about the deadline for submitting your voting instructions
by telephone or via the Internet.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B><I>Voting in Person. </I></B>If you attend the Annual Meeting, you may deliver your completed proxy card
in person or you may vote by completing a ballot, which will be available at the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If you hold your common shares in &#147;street name&#148; through a broker, a financial institution or
another nominee, then that nominee is considered the shareholder of record for voting purposes and
should give you instructions for voting your common shares. As a beneficial owner, you have the
right to direct that nominee how to vote the common shares held in your account. Your nominee may
only vote the common shares of Park that your nominee holds for you in accordance with your
instructions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If you hold your common shares in &#147;street name&#148; and wish to attend the Annual Meeting and vote
in person, you must bring an account statement or letter from your broker, financial institution or
other nominee authorizing you to vote on behalf of such nominee. The account statement or letter
must show that you were the direct or indirect beneficial owner of the common shares on February
26, 2010, the record date for voting at the Annual Meeting.
</DIV>
<DIV align="left">
<A name="107"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>How will my common shares be voted?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Those common shares represented by a properly executed proxy card that is received prior to
the Annual Meeting or by properly authenticated telephone votes that are submitted prior to the
deadline for doing so, and not subsequently revoked, will be voted in accordance with your
instructions by your proxy. If you submit a valid proxy card prior to the Annual Meeting, or
timely submit your proxy by telephone, but do not complete the voting instructions, your proxy will
vote your common shares as recommended by the Board of Directors, except in the case of broker
non-votes where applicable, as follows:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>&#147;FOR</I></B>&#148; the election as Park directors of the nominees identified below under the
heading <B>&#147;PROPOSAL 1 &#151; ELECTION OF DIRECTORS</B>&#148;;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>&#147;FOR&#148; </I></B>the approval, in a non-binding advisory vote, of Park&#146;s executive compensation
as described in this proxy statement; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B><I>FOR</I></B>&#148; the ratification of the appointment of Crowe Horwath LLP as Park&#146;s independent
registered public accounting firm for the fiscal year ending December&nbsp;31, 2010.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B><I>No appraisal or dissenters&#146; rights exist for any action proposed to be taken at the Annual
Meeting. </I></B>If any other matters are properly presented for voting at the Annual Meeting, the
individuals appointed as proxies will vote on those matters, to the extent permitted by applicable
law, in accordance with their best judgment.
</DIV>
<DIV align="left">
<A name="108"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>What if my common shares are held through the Park National Corporation Employees Stock Ownership
Plan?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If you participate in the Park National Corporation Employees Stock Ownership Plan (the &#147;Park
KSOP&#148;) and common shares have been allocated to your account in the Park KSOP, you will be entitled
to instruct the trustee of the Park KSOP, confidentially, how to vote those common shares. If you
are such a participant, you may receive your voting instructions card separately. If you give no
voting instructions to the trustee of the Park KSOP, the trustee will vote the common shares
allocated to your Park KSOP account pro rata in accordance with the instructions received from
other participants in the Park KSOP who have voted.
</DIV>
<DIV align="left">
<A name="109"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>How do I change or revoke my proxy?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Shareholders who submit proxies retain the right to revoke them at any time before they are
exercised. Unless revoked, the common shares represented by such proxies will be voted at the
Annual Meeting and any adjournment thereof. You may revoke your proxy at any time before it is
actually exercised at the Annual Meeting by giving notice of revocation to Park in writing, by
using the toll-free telephone number stated on the proxy card prior to the deadline for
transmitting proxies by telephone or by attending the Annual Meeting and giving notice of
revocation in person. The last-dated proxy you submit (by any means) will supersede any previously
submitted proxy. If you hold your common shares in &#147;street name&#148; and instructed your broker,
financial institution or other nominee to vote your common shares and you would like to revoke or
change your vote, then you must follow the instructions of your nominee.
</DIV>
<DIV align="left">
<A name="110"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>If I vote in advance, can I still attend the Annual Meeting?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Yes. You are encouraged to vote promptly, by returning your signed proxy card by mail or by
submitting your proxy by telephone, so that your common shares will be represented at the Annual
Meeting. However, appointing a proxy does not affect your right to attend the Annual Meeting and
vote your common shares in person.
</DIV>
<DIV align="left">
<A name="111"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>What constitutes a quorum and how many votes are required with respect to the proposals presented
at the Annual Meeting?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Under Park&#146;s Regulations, a quorum is a majority of the voting shares of Park then outstanding
and entitled to vote at the Annual Meeting. The common shares are the only shares of Park&#146;s
capital stock entitled to vote at the Annual Meeting. Common shares may be present in person or
represented by proxy at the Annual Meeting. Both abstentions and broker non-votes are counted as
being present for purposes of determining the presence of a quorum. There were 14,882,770 common
shares outstanding and entitled to vote on February&nbsp;26, 2010, the record date. A majority of the
outstanding common shares, or 7,441,386 common shares, present in person or represented by proxy,
will constitute a quorum. A quorum must exist to conduct business at the Annual Meeting.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="112"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Routine and Non-Routine Proposals</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The rules of NYSE Amex LLC (&#147;NYSE Amex&#148;), the stock exchange on which Park&#146;s common shares are
listed, determine whether proposals presented at shareholder meetings are routine or non-routine.
If a proposal is routine, a broker holding common shares for a beneficial owner in street name may
vote on the proposal without receiving instructions from the beneficial owner. If a proposal is
non-routine, the broker may vote on the proposal only if the beneficial owner has provided voting
instructions. A broker non-vote occurs when the broker holder of record is unable to vote on a
proposal because the proposal is non-routine and the beneficial owner does not provide any
instructions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Each of (i)&nbsp;the non-binding advisory vote on executive compensation and (ii)&nbsp;the ratification
of the appointment of Park&#146;s independent registered public accounting firm, is a routine item. The
election of directors is a proposal on which a broker may vote only if the beneficial owner has
provided voting instructions.
</DIV>
<DIV align="left">
<A name="113"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Vote Required with Respect to the Proposals</I></B>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Proposal 1 &#151; Election of Directors</I></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Under Ohio law and Park&#146;s Regulations, the five nominees for election as Park directors
receiving the greatest number of votes <I>&#147;</I><B><I>FOR</I></B><I>&#148; </I>election will be elected as directors in the class
whose terms will expire at the 2013 Annual Meeting of Shareholders. Common shares as to which the
authority to vote is withheld and broker non-votes will be counted for purposes of establishing a
quorum for the Annual Meeting but will not affect whether a nominee has received sufficient votes
to be elected.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Proposal 2 &#151; Approval, in Non-Binding Advisory Vote, of Park&#146;s Executive
Compensation</I></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The affirmative vote of a majority of the common shares represented at the Annual Meeting, in
person or by proxy, and entitled to vote on the proposal, is required to approve, in a non-binding
advisory vote, Park&#146;s executive compensation disclosed in this proxy statement. The effect of an
abstention is the same as a vote <I>&#147;</I><B><I>AGAINST</I></B><I>&#148; </I>the proposal.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Proposal 3 &#151;  Ratification of Appointment of Independent Registered Public
Accounting Firm</I></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The affirmative vote of a majority of the common shares represented at the Annual Meeting, in
person or by proxy, and entitled to vote on the proposal, is required to ratify the appointment of
Crowe Horwath LLP as Park&#146;s independent registered public accounting firm for the fiscal year
ending December&nbsp;31, 2010. The effect of an abstention is the same as a vote <I>&#147;</I><B><I>AGAINST</I></B><I>&#148; </I>the
proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s policy is to keep confidential proxy cards, ballots and voting tabulations that
identify individual shareholders. However, exceptions to this policy may be necessary in some
instances to comply with legal requirements and, in the case of any contested proxy solicitation,
to verify the validity of proxies presented by any person and the results of the voting.
Inspectors of election and any employees associated with processing proxy cards or ballots and
tabulating the vote must acknowledge their responsibility to comply with this policy of
confidentiality.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="114"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Who pays the cost of proxy solicitation?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park will pay the costs of preparing, assembling, printing and mailing this proxy statement,
the accompanying proxy card, the 2009 Annual Report and other related materials and all other costs
incurred in connection with the solicitation of proxies on behalf of the Board of Directors, other
than the Internet access and telephone usage charges associated with providing voting instructions
to nominees with
respect to common shares held in &#147;street name&#148;. Although we are soliciting proxies by mailing
these proxy materials to holders of our common shares, the directors, officers and employees of
Park and our subsidiaries also may solicit proxies by further mailing, personal contact, telephone,
facsimile or electronic mail without receiving any additional compensation for such solicitations.
Arrangements will also be made with brokerage firms, financial institutions and other nominees who
are record holders of common shares of Park for the forwarding of solicitation materials to the
beneficial owners of such common shares. Park will reimburse these brokers, financial institutions
and nominees for their reasonable out-of-pocket costs in connection therewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park has retained The Altman Group, Lyndhurst, New Jersey, to aid in the solicitation of
proxies for the Annual Meeting. The Altman Group will receive a base fee of $5,000, plus
reimbursement of out-of-pocket fees and expenses for its proxy solicitation services.
</DIV>
<DIV align="left">
<A name="115"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Who should I call if I have questions concerning this proxy solicitation and the proposals to be
considered at the Annual Meeting?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If you have any questions concerning this proxy solicitation and the proposals to be
considered at the Annual Meeting, or require any assistance in voting your common shares, please
call The Altman Group at (866)&nbsp;341-2072. This is a toll-free telephone number.
</DIV>
<DIV align="left">
<A name="116"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>NOTICE REGARDING INTERNET AVAILABILITY OF PROXY MATERIALS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U><B>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of
Shareholders of Park National Corporation to Be Held on April&nbsp;19, 2010</B></U><B>: This proxy statement, a
sample of the form of proxy card sent to shareholders by Park and Park&#146;s 2009 Annual Report are
available on Park&#146;s Internet Web site at www.parknationalcorp.com by selecting the &#147;Documents/ SEC
Filings&#148; section of the &#147;Investor Relations&#148; page for the proxy statement and sample form of proxy
card and selecting the &#147;Corporate Profile&#148; section of the &#147;Investor Relations&#148; page for Park&#146;s 2009
Annual Report. Alternatively, this proxy statement and a sample form of proxy card are available
at www.snl.com/irweblinkx/docs.aspx?iid=100396 and Park&#146;s 2009 Annual Report is available at
www.snl.com/irweblinkx/corporateprofile.aspx?iid=100396.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">To obtain directions to attend the Annual Meeting and vote in person, please call Leda
Rutledge at (740)&nbsp;322-6828 or Renae Buchanan at (740)&nbsp;349-0428.
</DIV>
<DIV align="left">
<A name="117"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>CONSOLIDATION OF OHIO BANKING OPERATIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In 2008, Park consolidated the banking operations of its then eight subsidiary banks located
in Ohio under one charter &#151; that of The Park National Bank (&#147;Park National Bank&#148;). Park National
Bank now has 11 divisions: (i)&nbsp;the Park National Division headquartered in Newark, Ohio; (ii)&nbsp;the
Fairfield National Division headquartered in Lancaster, Ohio; (iii)&nbsp;The Park National Bank of
Southwest Ohio &#038; Northern Kentucky Division headquartered in Milford, Ohio; (iv)&nbsp;the Century
National Division headquartered in Zanesville, Ohio; (v)&nbsp;the Second National Division headquartered
in Greenville, Ohio; (vi)&nbsp;the Richland Trust Division headquartered in Mansfield, Ohio; (vii)&nbsp;the
United Bank Division headquartered in Bucyrus, Ohio; (viii)&nbsp;the First-Knox National Division
headquartered in Mount Vernon, Ohio; (ix)&nbsp;the Farmers &#038; Savings Division headquartered in
Loudonville, Ohio; (x)&nbsp;the Security National Division headquartered in Springfield, Ohio; and (xi)
the Unity National Division headquartered in Piqua, Ohio.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">References in this proxy statement to &#147;Century National Division,&#148; &#147;Second National Division,&#148;
&#147;Richland Trust Division,&#148; &#147;United Bank Division,&#148; &#147;First-Knox National Division&#148; and &#147;Security
National Division&#148; encompass both the subsidiary bank of Park prior to the bank&#146;s merger with and
into
Park National Bank in 2008 and the division of Park National Bank following the bank&#146;s merger
with and into Park National Bank. In addition, references in this proxy statement to the &#147;Board of
Directors&#148; in respect of a division of Park National Bank encompass both the Board of Directors of
the subsidiary bank of Park prior to the bank&#146;s merger with and into Park National Bank and the
Affiliate Board of the division of Park National Bank following the bank&#146;s merger with and into
Park National Bank.
</DIV>
<DIV align="left">
<A name="118"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PARTICIPATION IN CAPITAL PURCHASE PROGRAM<BR>
ENACTED AS PART OF TROUBLED ASSETS RELIEF PROGRAM</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On December&nbsp;23, 2008, Park completed the sale to the United States Department of the Treasury
(the &#147;U.S. Treasury&#148;) of $100.0&nbsp;million of newly-issued Park non-voting preferred shares as part of
the U.S. Treasury&#146;s Capital Purchase Program (the &#147;Capital Purchase Program&#148;) enacted as part of
the Troubled Assets Relief Program (&#147;TARP&#148;) established by the Emergency Economic Stabilization Act
of 2008 (&#147;EESA&#148;). To finalize Park&#146;s participation in the Capital Purchase Program, Park and the
U.S. Treasury entered into a Letter Agreement, dated December&nbsp;23, 2008 (the &#147;Letter Agreement&#148;),
including the related Securities Purchase Agreement &#151; Standard Terms attached thereto (the
&#147;Securities Purchase Agreement&#148; and together with the Letter Agreement, the &#147;UST Agreement&#148;).
Pursuant to the UST Agreement, Park issued and sold to the U.S. Treasury (i)&nbsp;100,000 of Park&#146;s
Fixed Rate Cumulative Perpetual Preferred Shares, Series&nbsp;A, each without par value and having a
liquidation preference of $1,000 per share (the &#147;Series&nbsp;A Preferred Shares&#148;), and (ii)&nbsp;a warrant
(the &#147;Warrant&#148;) to purchase 227,376 Park common shares, at an exercise price of $65.97 per share
(subject to certain anti-dilution and other adjustments), for an aggregate purchase price of $100.0
million in cash. The Warrant has a ten-year term.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In the Securities Purchase Agreement, Park adopted the U.S. Treasury&#146;s standards for executive
compensation and corporate governance for the period during which the U.S. Treasury owns any
securities acquired from Park pursuant to the Securities Purchase Agreement or upon exercise of the
Warrant. These standards generally apply to our executive officers &#151; C. Daniel DeLawder, Park&#146;s
Chairman of the Board and Chief Executive Officer; David L. Trautman, Park&#146;s President and
Secretary; and John W. Kozak, Park&#146;s Chief Financial Officer. These standards are set forth in
the American Recovery and Reinvestment Act of 2009 (the &#147;ARRA&#148;) and an interim final rule
promulgated by the U.S. Treasury under 31 CFR Part&nbsp;30 on June&nbsp;15, 2009 and amended on December&nbsp;7,
2009 (collectively, the &#147;Interim Final Rule&#148;). The executive compensation and corporate governance
standards under the ARRA and the Interim Final Rule remain in effect during the period in which any
obligation arising from financial assistance provided under TARP remains outstanding, excluding any
period during which the U.S. Treasury holds only the Warrant to purchase Park common shares (the
&#147;ARRA Covered Period&#148;).
</DIV>
<DIV align="left">
<A name="119"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PROPOSAL 1 &#151; ELECTION OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As of the date of this proxy statement, there were fourteen members of the Board of Directors
&#151; five directors in the class whose terms will expire at the Annual Meeting, four directors in the
class whose terms will expire in 2011 and five directors in the class whose terms will expire in
2012. Proxies cannot be voted at the Annual Meeting for more than five nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On April&nbsp;20, 2009, J. Gilbert Reese retired from the Boards of Directors of Park and Park
National Bank. Mr.&nbsp;Reese had served on the Park Board of Directors since 1987, when the
corporation was founded. Mr.&nbsp;Reese served in the class of directors of Park whose terms will
expire at the Annual Meeting. Further, Mr.&nbsp;Reese served on the Board of Directors of Park National
Bank for 44&nbsp;years. The Board of Directors of Park National Bank named Mr.&nbsp;Reese as a Director
Emeritus for Park National Bank, effective April&nbsp;20, 2009.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On April&nbsp;20, 2009, the Park Board of Directors, upon the recommendation of the Nominating
Committee, elected Sarah Reese Wallace to fill the vacancy in the class of directors whose terms
will
expire in 2010, created by the retirement of her father J. Gilbert Reese, effective that day.
Ms.&nbsp;Wallace was recommended to the Nominating Committee by C. Daniel DeLawder, the Chairman of the
Board and Chief Executive Officer of Park.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On December&nbsp;11, 2009, the Executive Committee of the Park Board of Directors accepted the
resignation of Nicholas L. Berning, which had been submitted on December&nbsp;10, 2009. Mr.&nbsp;Berning
served in the class of directors of Park whose terms will expire in 2011. Mr.&nbsp;Berning&#146;s
resignation was effective at the close of business on December&nbsp;31, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On December&nbsp;11, 2009, the Executive Committee of the Park Board of Directors, upon the
recommendation of the Nominating Committee and as permitted by Section&nbsp;2.02(A) of Park&#146;s
Regulations, fixed the number of directors of Park at fourteen and elected Timothy S. McLain and
Stephen J. Kambeitz to join the class of directors whose terms will expire at the Annual Meeting
and in 2012, respectively. The election of Messrs.&nbsp;McLain and Kambeitz was effective at the close
of business on December&nbsp;31, 2009. Messrs.&nbsp;McLain and Kambeitz were recommended to the Nominating
Committee by Mr.&nbsp;DeLawder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">At the meeting of the Board of Directors of Park held on January&nbsp;25, 2010, upon the unanimous
recommendation of the Nominating Committee and as permitted by Section&nbsp;2.02(A) of Park&#146;s
Regulations, the Board of Directors fixed the number of directors of Park at fourteen to reflect
the number of individuals currently serving as directors of Park.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors proposes that each of the five nominees identified below be re-elected
for a new term of three years. Each nominee was recommended by the Nominating Committee for
re-election. Each individual elected as a director at the Annual Meeting will hold office for a
term to expire at the Annual Meeting of Shareholders to be held in 2013 and until his or her
successor is duly elected and qualified, or until his or her earlier resignation, removal from
office or death. While it is contemplated that all nominees will stand for re-election at the
Annual Meeting, if a nominee who would otherwise receive the required number of votes becomes
unable or unwilling to serve as a candidate for re-election as a director, the individuals
designated as proxies on the proxy card will have full discretion to vote the common shares
represented by the proxies they hold for the election of the remaining nominees and for the
election of any substitute nominee designated by the Board of Directors following recommendation by
the Nominating Committee. The Board of Directors knows of no reason why any of the nominees named
below would be unable or unwilling to serve if elected to the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following information, as of the date of this proxy statement, concerning the age,
principal occupation, other affiliations and business experience of each nominee for re-election as
a director of Park has been furnished to Park by each director. In addition, the following
information provides the evaluation of the Nominating Committee and the Board of Directors
regarding the key attributes, skills and qualifications presented by each director nominee.
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B><I>NOMINEES FOR ELECTION AS DIRECTORS<BR>
(Term Expiring in 2013)</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Maureen Buchwald, Age 78</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Ms.&nbsp;Buchwald has served as a director of Park since 1997 and as a member of the Board of
Directors of the First-Knox National Division since 1988. Ms.&nbsp;Buchwald serves as a member of the
Audit Committee of Park&#146;s Board of Directors. Ms.&nbsp;Buchwald has been the owner and operator of Glen
Hill Orchards, Ltd., Mount Vernon, Ohio, commercial fruit growers, since 1976. Ms.&nbsp;Buchwald served
as Vice President of Administration and Secretary of the Board of Directors of Ariel Corporation, a
company manufacturing reciprocating compressors, for more than 20&nbsp;years prior to her retirement in
1997. The Nominating Committee and the Board of Directors believe that the attributes, skills and
qualifications Ms.&nbsp;Buchwald has developed through establishing and running multiple businesses
allow her to provide accounting, financial and administrative expertise to the Board of Directors
and has recommended her nomination for re-election.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Timothy S. McLain, Age 48</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;McLain has served as a director of Park since the close of business on December&nbsp;31, 2009
and as a member of the Board of Directors of the Century National Division since April&nbsp;2007. Mr.
McLain serves as a member of the Audit Committee of Park&#146;s Board of Directors. Mr.&nbsp;McLain has
served as Vice President of McLain, Hill, Rugg &#038; Associates, Inc., a firm which provides tax and
accounting services, since 1991 and has been associated with that firm since 1979. Mr.&nbsp;McLain has
been a Certified Public Accountant since 1985. The Nominating Committee and the Board of Directors
believe that the attributes, skills and qualifications Mr.&nbsp;McLain has developed through more than
25&nbsp;years as a Certified Public Accountant in public practice allow him to provide tax, accounting
and financial expertise to the Board of Directors and has recommended his nomination for
re-election.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Rick R. Taylor, Age 62</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Taylor has served as a director of Park since 1998 and as a member of the Board of
Directors of the Richland Trust Division since 1995. Mr.&nbsp;Taylor serves as a member of the
Investment Committee of Park&#146;s Board of Directors. Mr.&nbsp;Taylor has served as President of Jay
Industries, Inc., Mansfield, Ohio, a plastic and metal parts manufacturer, since 1989. Mr.&nbsp;Taylor
has also served as a director of The Gorman-Rupp Company, a manufacturer of pumps and related
equipment, since 2003. The Nominating Committee and the Board of Directors believe that the
attributes, skills and qualifications Mr.&nbsp;Taylor has developed through more than 40&nbsp;years in the
manufacturing business allow him to provide a valuable customer perspective and highly developed
business acumen and leadership skills to the Board of Directors and has recommended his nomination
for re-election.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Sarah Reese Wallace, Age 55</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Ms.&nbsp;Wallace has served as a director of Park since April&nbsp;20, 2009 and as a member of the Board
of Directors of Park National Bank since October&nbsp;2008. Ms.&nbsp;Wallace does not currently serve on any
committees of Park&#146;s Board of Directors. Ms.&nbsp;Wallace has served as Chairman of the Board since
1999 and as a director since 1982, of First Federal Savings and Loan Association, Newark, Ohio, a
savings association. She served as President of First Federal Savings and Loan Association from
1982 to 1999. The Nominating Committee and the Board of Directors believe that the attributes,
skills and qualifications Ms.&nbsp;Wallace has developed through more than 30&nbsp;years of service in the
banking industry allow her to provide technical knowledge in all operational areas of banking
(including compliance, audit, marketing, retail banking and mortgage lending) and financial
leadership to the Board of Directors and has recommended her nomination for re-election.
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Leon Zazworsky, Age 61</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Zazworsky has served as a director of Park since 2003 and as a member of the Board of
Directors of Park National Bank since 1991. Mr.&nbsp;Zazworsky serves as a member of each of the Audit
Committee, the Compensation Committee, the Executive Committee, the Nominating Committee and the
Risk Committee (Chair) of Park&#146;s Board of Directors. Mr.&nbsp;Zazworsky has served as President of Mid
State Systems, Inc., Hebron, Ohio, a transportation and distribution company, since 1979. Mr.
Zazworsky has served as President of Mid State Warehouses, Inc., Newark, Ohio, a warehousing and
distribution company, since 1989. The Nominating Committee and the Board of Directors believe that
the attributes, skills and qualifications Mr.&nbsp;Zazworsky has developed through nearly 40&nbsp;years of
successful private business ownership &#151; managing people, budgets and finances through varying
economic conditions &#151; allow him to provide leadership experience and business expertise to the
Board of Directors and has recommended his nomination for re-election.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following information, as of the date of this proxy statement, concerning the age,
principal occupation, other affiliations and business experience of each of the continuing
directors of Park has been furnished to Park by each director. In addition, the following
information provides the evaluation of the Nominating Committee and the Board of Directors
regarding the key attributes, skills and qualifications possessed by each continuing director.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B><I>DIRECTORS CONTINUING IN OFFICE<BR>
(Term to Expire at the 2011 Annual Meeting of Shareholders)</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>C. Daniel DeLawder, Age 60</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;DeLawder has served as a director of Park since 1994, a member of the Board of Directors
of Park National Bank since 1992, a member of the Board of Directors of Vision Bank headquartered
in Panama City, Florida since March&nbsp;2007 and a member of the Board of Directors of the Vision Bank
Division of Gulf Shores, Alabama since March&nbsp;2007. Mr.&nbsp;DeLawder serves as a member of each of the
Executive Committee (Vice Chair) and the Investment Committee (Chair) of Park&#146;s Board of Directors.
Mr.&nbsp;DeLawder has served as Chairman of the Board since January&nbsp;2005 and Chief Executive Officer
since January&nbsp;1999, and served as President from 1994 to December&nbsp;2004, of Park. Mr.&nbsp;DeLawder has
served as Chairman of the Board since January&nbsp;2005 and Chief Executive Officer since January&nbsp;1999,
and served as President from 1993 to December&nbsp;2004 and Executive Vice President from 1992 to 1993,
of Park National Bank. Mr.&nbsp;DeLawder served as a member of the Board of Directors from 1985 to
March&nbsp;2006, Chairman of the Board of Directors from 1989 to 2003, and President from 1985 to 1992,
of the Fairfield National Division. Mr.&nbsp;DeLawder served as a member of the Board of Directors of
the Richland Trust Division from 1997 to January&nbsp;2006. Mr.&nbsp;DeLawder served as a member of the
Board of Directors of the Second National Division from 2000 to March&nbsp;2006. Mr.&nbsp;DeLawder has
served as a director of the Federal Reserve Bank of Cleveland since January&nbsp;2007. Mr.&nbsp;DeLawder
also served as a member of the Board of Trustees of Ohio University, Athens, Ohio, from 2000 to
2009, and for the last two of those years, as Chairman of the Board of Trustees. The Nominating
Committee and the Board of Directors believe that the attributes, skills and qualifications Mr.
DeLawder has developed through more than a decade as the Chief Executive Officer of Park and more
than 38&nbsp;years of service with Park in some capacity allow him to provide banking and general
financial expertise and comprehensive knowledge regarding Park to the Board of Directors and he
should continue to serve as a Park director.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Harry O. Egger, Age 70</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Egger has served as a director of Park since 2001 and as a member of the Board of
Directors of the Security National Division since 1977. Mr.&nbsp;Egger serves as a member of each of
the Executive Committee and the Investment Committee of Park&#146;s Board of Directors. Mr.&nbsp;Egger has
served as Vice Chairman of the Board of Park since March&nbsp;2001. Mr.&nbsp;Egger has served as Chairman of
the Board of Directors since 1977, and served as Chief Executive Officer from 1997 to March&nbsp;2003
and President from 1981 to 1997, of the Security National Division. Mr.&nbsp;Egger served as Chairman
of the Board, President and Chief Executive Officer of Security Banc Corporation, an Ohio bank
holding company (&#147;Security&#148;), from 1997 to March&nbsp;2001. In connection with the merger of Security
into Park effective March&nbsp;31, 2001, Mr.&nbsp;Egger became Vice Chairman of the Board and a director of
Park as contemplated under the Agreement and Plan of Merger, dated as of November&nbsp;20, 2000, between
Security and Park. The Nominating Committee and the Board of Directors believe that the
attributes, skills and qualifications Mr.&nbsp;Egger has developed through more than 16&nbsp;years of leading
a high performing bank allow him to provide a valued perspective on macro and micro issues alike to
the Board of Directors and he should continue to serve as a Park director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>F. William Englefield IV, Age 55</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Englefield has served as a director of Park since 2001 and as a member of the Board of
Directors of Park National Bank since 1993. Mr.&nbsp;Englefield serves as a member of each of the
Compensation Committee (Chair), the Executive Committee, the Nominating Committee and the Risk
Committee of Park&#146;s Board of Directors. Mr.&nbsp;Englefield has served as President of Englefield,
Inc., a company engaged in the sale of petroleum products (at retail and wholesale) and convenience
stores and restaurants, since 1989. A son of Mr.&nbsp;Englefield is married to a daughter of John W.
Kozak, Chief Financial Officer of Park. The Nominating Committee and the Board of Directors
believe that the attributes, skills and qualifications Mr.&nbsp;Englefield has developed through more
than 20&nbsp;years of leading a growing privately-held business, with responsibility for all segments of
company operations and financial areas, allow him to provide an important retail perspective and
structured operational experience to the Board of Directors and he should continue to serve as a
Park director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Stephen J. Kambeitz, Age 51</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Kambeitz has served as a director of Park since the close of business on December&nbsp;31, 2009
and as a member of the Board of Directors of Park National Bank since that time as well. Mr.
Kambeitz serves as a member of the Audit Committee (Chair) of Park&#146;s Board of Directors. Mr.
Kambeitz has served as President since 2008, and Chief Financial Officer since 2001, of R.C.
Olmstead, Inc., Dublin, Ohio, a company which provides data processing and services for the
financial services industry. Mr.&nbsp;Kambeitz served as Chief Financial Officer from 1999 to 2001 of
Lighthouse Financial Services, Inc., a diversified financial services holding company. Previously,
Mr.&nbsp;Kambeitz served as Senior Vice-President of Consumer Lending of Fifth Third Bank, Columbus,
Ohio, from 1998 to 1999 and as Chief Financial Officer of State Savings Company, Columbus, Ohio, a
savings and loan holding company, from 1985 to 1998 and Executive Vice President, Office of the
President, of State Savings Bank, the primary savings association subsidiary of State Savings
Company, from 1997 to 1998. Mr.&nbsp;Kambeitz also served as Controller of Calibre Corporation,
Columbus, Ohio, a fast food franchisee, from 1983 to 1985, and as an accountant with Worthington
Industries, Inc., Columbus, Ohio, a diversified metal processing company, from 1981 to 1983. Mr.
Kambeitz began his career in the Columbus, Ohio office of Peat, Marwick, Mitchell &#038; Company, a
predecessor to KPMG. The Nominating Committee and the Board of Directors believe that the
attributes, skills and qualifications Mr.&nbsp;Kambeitz has developed through more than 25&nbsp;years of
working in the financial services industry, including working through the savings and loan
challenges in the 1980s, allow him to provide a valuable perspective on operating a financial
services institution to the Board of Directors and he should continue to serve as a Park director.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>John J. O&#146;Neill, Age 89</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;O&#146;Neill has served as a director of Park since 1987 and as a member of the Board of
Directors of Park National Bank since 1964. Mr.&nbsp;O&#146;Neill serves as a member of each of the
Compensation Committee, the Executive Committee, the Investment Committee and the Nominating
Committee (Chair) of Park&#146;s Board of Directors. Mr.&nbsp;O&#146;Neill has served as Chairman/Director of
Southgate Corporation, Newark, Ohio, a real estate development and management company, for more
than 60&nbsp;years. The Nominating Committee and the Board of Directors believe that the attributes,
skills and qualifications Mr.&nbsp;O&#146;Neill has developed through more than 60&nbsp;years of operating a
successful real estate development company allow him to provide development, negotiating and
underwriting expertise to the Board of Directors and he should continue to serve as a Park
director.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B><I>DIRECTORS CONTINUING IN OFFICE<BR>
(Term to Expire at the 2012 Annual Meeting of Shareholders)</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>James J. Cullers, Age 79</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Cullers has served as a director of Park since 1997 and as a member of the Board of
Directors of the First-Knox National Division since 1977. Mr.&nbsp;Cullers serves as a member of the
Risk Committee of Park&#146;s Board of Directors. Mr.&nbsp;Cullers is an Attorney-at-Law and has been
Principal of James J. Cullers, Mediation and Arbitration Services, a firm providing mediator and
arbitrator services, since January&nbsp;2005. Mr.&nbsp;Cullers served as Of Counsel from 2001 to January
2005 and prior thereto as Senior Partner, of Zelkowitz, Barry &#038; Cullers, Attorneys-at-Law, Mount
Vernon, Ohio. Mr.&nbsp;Cullers also served for 17&nbsp;years on the Board of Ohio Bar Title Insurance
Company. The Nominating Committee and the Board of Directors believe that the attributes, skills
and qualifications Mr.&nbsp;Cullers has developed through more than 45&nbsp;years of providing legal services
for businesses and banks allow him to provide practical legal expertise to the Board of Directors
and he should continue to serve as a Park director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>William T. McConnell, Age 76</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;McConnell has served as a director of Park since 1986 and as a member of the Board of
Directors of Park National Bank since 1977. Mr.&nbsp;McConnell serves as Chairman of the Executive
Committee of Park&#146;s Board of Directors. Mr.&nbsp;McConnell has served as Chairman of the Executive
Committee since 1996, and served as Chairman of the Board from 1994 to December&nbsp;2004, Chief
Executive Officer from 1986 to 1999 and President from 1986 to 1994, of Park. Mr.&nbsp;McConnell has
served as Chairman of the Executive Committee since 1996, and served as Chairman of the Board from
1993 to December&nbsp;2004, Chief Executive Officer from 1983 to 1999 and President from 1979 to 1993,
of Park National Bank. The Nominating Committee and the Board of Directors believe that the
attributes, skills and qualifications Mr.&nbsp;McConnell has developed through more than 24&nbsp;years of
leading a high performance banking organization allow him to provide judgment, wisdom and
perspective to the Board of Directors and he should continue to serve as a Park director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>William A. Phillips, Age 77</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Phillips has served as a director of Park since 1990 and as a member of the Board of
Directors of the Century National Division since 1971. Mr.&nbsp;Phillips does not currently serve on
any committees of Park&#146;s Board of Directors. Mr.&nbsp;Phillips has served as Chairman of the Board of
Directors since 1986, and served as Chief Executive Officer from 1986 to 1998, of the Century
National Division. The Nominating Committee and the Board of Directors believe that the
attributes, skills and qualifications Mr.&nbsp;Phillips has developed through more than 50&nbsp;years in the
banking industry allow him to provide practical advice on customer service and community support to
the Board of Directors and he should continue to serve as a Park director.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>David L. Trautman, Age 48</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Mr.&nbsp;Trautman has served as a director of Park since 2005 and as a member of the Board of
Directors of Park National Bank since 2002. Mr.&nbsp;Trautman has served as President since January
2005 and Secretary since July&nbsp;2002 of Park. Mr.&nbsp;Trautman has served as President of Park National
Bank since January&nbsp;2005. Mr.&nbsp;Trautman served as Chairman of the Board from March&nbsp;2001 to March
2006, a member of the Board of Directors from May&nbsp;1997 to March&nbsp;2006, and President and Chief
Executive Officer from May&nbsp;1997 to February&nbsp;2002, of the First-Knox National Division. Mr.
Trautman served as Executive Vice President from February&nbsp;2002 to December&nbsp;2004 and Vice President
from July&nbsp;1993 to June&nbsp;1997 of Park National Bank. Mr.&nbsp;Trautman served as a member of the Board of
Directors of United Bank Division from 2000 to March&nbsp;2006. The Nominating Committee and the Board
of Directors believe that the attributes, skills and qualifications Mr.&nbsp;Trautman has developed
through more than 25&nbsp;years of experience in banking allow him to provide technical banking
knowledge, community perspective and financial leadership to the Board of Directors and he should
continue to serve as a Park director.
</DIV>
<DIV align="left">
<A name="120"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Recommendation and Vote</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Under Ohio law and Park&#146;s Regulations, the five nominees for election as a director receiving
the greatest number of votes &#147;<B><I>FOR</I></B>&#148; election will be elected as directors of Park for a term of
three years expiring at the 2013 Annual Meeting of Shareholders. Except in the case of broker
non-votes, common shares represented by properly executed and returned proxy cards, or properly
authenticated telephone votes that are submitted prior to the deadline for doing so, will be voted
&#147;<B><I>FOR</I></B>&#148; the election of the Board of Directors&#146; nominees named above unless authority to vote for one
or more nominees is withheld. Shareholders may withhold authority to vote for the entire slate as
nominated or, by writing the name of one or more nominees on the line provided on the proxy card,
withhold the authority to vote for one or more nominees. Common shares as to which the authority
to vote is withheld and broker non-votes will be counted for purposes of establishing a quorum for
the Annual Meeting but will not be counted toward the election of directors, or toward the election
of the individual nominees specified on the proxy card.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>Your Board of Directors unanimously recommends a vote &#147;</B><B><I>FOR</I></B><B>&#148; the re-election of all of the
nominees named above.</B>
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="121"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>BENEFICIAL OWNERSHIP OF PARK COMMON SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table furnishes information regarding the beneficial ownership of Park common
shares, as of February&nbsp;26, 2010, for each of Park&#146;s current directors, each of the nominees for
re-election as a Park director, each of the individuals named in the Summary Compensation Table for
2009 on page 46, all current directors and executive officers as a group and each person known by
Park to beneficially own more than 5% of Park&#146;s outstanding common shares:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>

    <TD nowrap align="center" colspan="8"><U>Amount and Nature of
Beneficial Ownership (1)</U></TD>

    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Common Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Which Can Be</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Acquired Upon</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercise of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Currently</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercisable Options</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">or Options First</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Name of Beneficial</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Becoming</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Owner or Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Common Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercisable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Percent of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">of Persons in Group (1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Presently Held</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Within 60 Days</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Class (2)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trust departments of
bank subsidiaries of
Park <br>c/o The Park
National Bank, Trust
Department <br>50 North
Third Street<br> Newark, OH
43055 (3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1,933,712      </TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,933,712</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">12.99</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maureen Buchwald</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">7,864</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,864</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">James J. Cullers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8,715      </TD>
    <TD nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">C. Daniel DeLawder (7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">118,690      </TD>
    <TD nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">119,590</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harry O. Egger</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">41,041      </TD>
    <TD nowrap>(9)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,041</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">F. William Englefield IV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">3,484      </TD>
    <TD nowrap>(10)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stephen J. Kambeitz</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William T. McConnell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">123,357      </TD>
    <TD nowrap>(11)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">123,357</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Timothy S. McLain</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1,811      </TD>
    <TD nowrap>(12)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,811</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John J. O&#146;Neill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">23,858      </TD>
    <TD nowrap>(13)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,858</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William A. Phillips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">12,128      </TD>
    <TD nowrap>(14)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,128</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rick R. Taylor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">3,919      </TD>
    <TD nowrap>(15)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David L. Trautman (7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">49,281      </TD>
    <TD nowrap>(16)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50,181</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sarah Reese Wallace</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2,794      </TD>
    <TD nowrap>(17)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leon Zazworsky</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,074</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,074</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John W. Kozak (7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">29,219      </TD>
    <TD nowrap>(18)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,119</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>(4)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All current executive
officers and directors
as a group (15 persons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">459,603      </TD>
    <TD nowrap>(19)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">462,303</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">3.11</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Unless otherwise indicated in the footnotes to this table, each beneficial owner has sole
voting and investment power with respect to all of the common shares reflected in the table for
such beneficial owner. All fractional common shares have been rounded to the nearest whole common
share. The mailing address of each of the current executive officers and directors of Park is 50
North Third Street, Post Office Box 3500, Newark, Ohio 43058-3500.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>The &#147;Percent of Class&#148; computation is based upon the sum of (i)&nbsp;14,882,770 common shares
outstanding on February&nbsp;26, 2010 and (ii)&nbsp;the number of common shares, if any, as to which the
named person or group has the right to acquire beneficial ownership upon the exercise of options
which are currently exercisable or will first become exercisable within 60&nbsp;days after February&nbsp;26,
2010.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>The trust departments of Park&#146;s subsidiary banks (and their divisions), as the fiduciaries
of various agency, trust and estate accounts, beneficially own an aggregate of 1,933,712 common
shares. The trust department of Park National Bank (and its divisions) beneficially owns 1,929,747
common shares (12.97% of the outstanding common shares), with voting power but no investment power
for all of the 1,929,747 common shares. The trust department of Vision Bank (and its divisions)
beneficially owns 3,965 common shares (0.03% of the outstanding common shares), with voting but no
investment power for all of the 3,965 common shares. The officers and directors of each subsidiary
bank (and its divisions) and of Park disclaim beneficial ownership of the common shares
beneficially owned by the trust department of each subsidiary bank (and its divisions). The number
shown does not include 1,342,633 common shares held of record by the trust department of Park
National Bank (and its divisions) as to which the trust department has no voting or investment
power.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents beneficial ownership of less than 1% of the outstanding common shares.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes 3,300 common shares held jointly by Ms.&nbsp;Buchwald and her husband
as to which she shares voting and investment power.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 925 common shares held by Mr.&nbsp;Cullers&#146; wife in an individual
retirement account as to which she has sole voting and investment power and Mr.&nbsp;Cullers disclaims
beneficial ownership; 4,000 common shares held in an individual retirement account for which the
trust department of Park National Bank (First-Knox National Division) serves as trustee and has
voting power and Mr.&nbsp;Cullers has investment power; 165 common shares held by Mr.&nbsp;Cullers as
custodian for his grandchildren; and 136 common shares held by Mr.&nbsp;Cullers&#146; wife as custodian for
their grandchildren as to which she has sole voting and investment power and Mr.&nbsp;Cullers disclaims
beneficial ownership.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Individual named in Summary Compensation Table for 2009. Messrs.&nbsp;DeLawder and Trautman
also serve as directors of Park.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 50,148 common shares held by the wife of Mr.&nbsp;DeLawder as to
which she has sole voting and investment power and Mr.&nbsp;DeLawder disclaims beneficial ownership; and
13,262 common shares held for the account of Mr.&nbsp;DeLawder in the Park KSOP. As of February&nbsp;26,
2010, 48,240 common shares held by Mr.&nbsp;DeLawder and 38,165 common shares held by the wife of Mr.
DeLawder had been pledged as security to a financial institution, which is not affiliated with
Park, in connection with a personal loan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 17,502 common shares held by the wife of Mr.&nbsp;Egger as to which
she has sole voting and investment power and Mr.&nbsp;Egger disclaims beneficial ownership; 5,714 common
shares held for the account of Mr.&nbsp;Egger in the Park KSOP; 780 common shares held in an individual
retirement account by Merrill Lynch as custodian for Mr.&nbsp;Egger; 769 common shares held in an
individual retirement account by Merrill Lynch as custodian for the wife of Mr.&nbsp;Egger as to which
Mr.&nbsp;Egger disclaims beneficial ownership; and 200 common shares held by Mr.&nbsp;Egger&#146;s wife as
custodian for their grandchildren as to which she has sole voting and investment power and Mr.
Egger disclaims beneficial ownership.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(10)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 1,621 common shares held in a managing agency account with the
trust department of Park National Bank as to which the trust department of Park National Bank has
voting power and Mr Englefield has investment power; 273 common shares held in an individual
retirement account by Merrill Lynch as custodian for Mr.&nbsp;Englefield; and 1,590 common shares held
in a cash management account by Merrill Lynch as custodian for Mr.&nbsp;Englefield.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(11)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 16,978 common shares held in an inter vivos irrevocable trust
established by Mr.&nbsp;McConnell as to which Park National Bank&#146;s trust department serves as trustee
and has voting power and Mr.&nbsp;McConnell has investment power; and 5,939 common shares held for the
account of Mr.&nbsp;McConnell in the Park KSOP.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(12)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes 1,640 common shares held jointly by Mr.&nbsp;McLain and his wife as
to which he shares voting and investment power.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(13)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes 23,858 common shares held in a grantor trust with the trust
department of Park National Bank as to which the trust department serves as trustee and has voting
power. Mr.&nbsp;O&#146;Neill has investment power with respect to these 23,858 common shares. The number
shown does not include 152,042 common shares held by O&#146;Neill Investments LLC, an Ohio limited
liability company as to which Mr.&nbsp;O&#146;Neill is a non-managing member. Two adult sons of Mr.&nbsp;O&#146;Neill
are the managing members of O&#146;Neill Investments LLC and share voting and investment power with
respect to these 152,042 common shares. Mr.&nbsp;O&#146;Neill disclaims beneficial ownership with respect to
the 152,042 common shares held by O&#146;Neill Investments LLC.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(14)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 2,828 common shares held for the account of Mr.&nbsp;Phillips in
the Park KSOP; 1,491 common shares held in an individual retirement account for which the trust
department of Park National Bank (Century National Division) serves as trustee and has voting power
and Mr.&nbsp;Phillips has investment power; and 3,858 common shares held by the wife of Mr.&nbsp;Phillips as
to which she has sole voting and investment power and Mr.&nbsp;Phillips disclaims beneficial ownership.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(15)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes 3,739 common shares held in a managing agency account with the
trust department of Park National Bank (Richland Trust Division) as to which the trust department
has voting power and Mr.&nbsp;Taylor has investment power.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(16)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes: 13,230 common shares held by the wife of Mr.&nbsp;Trautman as to
which she has sole voting and investment power and Mr.&nbsp;Trautman disclaims beneficial ownership; 822
common shares held in a rollover plan as to which the wife of Mr.&nbsp;Trautman has sole voting and
investment power and Mr.&nbsp;Trautman disclaims beneficial ownership; and 7,364 common shares held for
the account of Mr.&nbsp;Trautman in the Park KSOP. As of February&nbsp;26, 2010, 27,865 common shares held
by Mr.&nbsp;Trautman and 13,230 common shares held by the wife of Mr.&nbsp;Trautman had been pledged as
security to a financial institution which is not affiliated with Park, in connection with a
personal loan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(17)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes 2,349 common shares held in a grantor trust with the trust
department of Park National Bank as to which the trust department has voting power and Ms.&nbsp;Wallace
has investment power.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(18)</TD>
    <TD>&nbsp;</TD>
    <TD>The number shown includes 4,933 common shares held for the account of Mr.&nbsp;Kozak in the
Park KSOP. As of February&nbsp;26, 2010, 24,145 common shares held by Mr.&nbsp;Kozak had been pledged as
security to a financial institution which is not affiliated with Park, in connection with a
personal line of credit.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(19)</TD>
    <TD>&nbsp;</TD>
    <TD>See Notes (5), (6)&nbsp;and (8)&nbsp;through (18)&nbsp;above.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<DIV align="left">
<A name="122"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Section&nbsp;16(a) Beneficial Ownership Reporting Compliance</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Section&nbsp;16(a) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;),
requires that Park&#146;s directors and executive officers, and any persons beneficially holding more
than 10&nbsp;percent of Park&#146;s outstanding common shares, file statements with the Securities and
Exchange Commission (the &#147;SEC&#148;) reporting their initial beneficial ownership of common shares and
any subsequent changes in their
beneficial ownership. Park is required to disclose in this proxy statement any late
statements, if any statements are not filed within the time periods mandated by the SEC. Based
solely upon Park&#146;s review of (i)&nbsp;Section&nbsp;16(a) statements filed on behalf of these persons for
their transactions during Park&#146;s 2009 fiscal year and (ii)&nbsp;written representations received from
these persons that no other Section 16(a) statements were required to be filed by them for
transactions during Park&#146;s 2009 fiscal year, Park believes that all Section 16(a) filing
requirements applicable to Park&#146;s executive officers and directors, and persons holding more than
10&nbsp;percent of Park&#146;s outstanding common shares, were complied with.
</DIV>
<DIV align="left">
<A name="123"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>CORPORATE GOVERNANCE</B>
</DIV>

<DIV align="left">
<A name="124"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Code of Business Conduct and Ethics</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In accordance with the applicable sections of the NYSE Amex Company Guide (the &#147;NYSE Amex
Rules&#148;) and applicable SEC rules, the Board of Directors has adopted the Code of Business Conduct
and Ethics which applies to the directors, officers and employees of Park and our subsidiaries.
The Code of Business Conduct and Ethics is intended to set forth Park&#146;s expectations for the
conduct of ethical business practices by the officers, directors, employees and agents of Park and
our subsidiaries, to promote advance disclosure and review of potential conflicts of interest and
similar matters, to protect and encourage the reporting of questionable behavior, to foster an
atmosphere of self-awareness and prudent conduct and to discipline appropriately those who engage
in improper conduct. The Code of Business Conduct and Ethics is posted on the &#147;Governance
Documents&#148; section of the &#147;Investor Relations&#148; page of Park&#146;s Internet Web site at
www.parknationalcorp.com.
</DIV>
<DIV align="left">
<A name="125"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Park Improvement Line</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park has implemented a &#147;whistleblower&#148; hotline called the &#147;Park Improvement Line.&#148; Calls that
relate to accounting, internal accounting controls or auditing matters or that relate to possible
wrongdoing by employees of Park or one of our subsidiaries can be made anonymously through this
hotline. The calls are received by an independent third-party service and the information received
is forwarded directly to the Chair of the Audit Committee and the Head of Park&#146;s Internal Audit
Department. The Park Improvement Line number is (800)&nbsp;418-6423, Ext. PRK (775).
</DIV>
<DIV align="left">
<A name="126"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Independence of Directors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Applicable NYSE Amex Rules require that a majority of the members of Park&#146;s Board of Directors
be independent directors. The definition of independence for purposes of the NYSE Amex Rules
includes a series of objective tests, which Park has used in determining whether the members of the
Park Board of Directors are independent. In addition, a member of Park&#146;s Audit Committee will not
be considered to be independent under the applicable NYSE Amex Rules if he or she (i)&nbsp;does not
satisfy the independence standards in Rule&nbsp;10A-3 under the Exchange Act or (ii)&nbsp;has participated in
the preparation of the financial statements of Park or any of our current subsidiaries at any time
during the past three years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As required by the NYSE Amex Rules, the Board of Directors has affirmatively determined that
each independent director has no relationship with Park or any of our subsidiaries that would
interfere with the exercise of independent judgment in carrying out the responsibilities of a
director. In making determinations as to the independence of Park&#146;s directors consistent with the
definition of &#147;independent directors&#148; in the applicable NYSE Amex Rules, the Board of Directors
reviewed, considered and discussed:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the relationships (including employment, commercial, industrial, banking,
consulting, legal, accounting, charitable and family relationships) of each individual
who served as a director of
Park during the 2009 fiscal year and of each individual who currently serves as a
director of Park (and, in each case, the immediate family members of such individual)
with Park and/or any of our subsidiaries (either directly or as a partner, manager,
director, trustee, controlling shareholder, officer, employee or member of any
organization that has or had any such relationship) since January&nbsp;1, 2007;</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the compensation and other payments (including payments made in the ordinary course
of providing business services) each such individual (and the immediate family members
of each such individual):</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>has received from or made to Park and/or any of our subsidiaries (either
directly or as a partner, manager, director, trustee, controlling shareholder,
officer, employee or member of an organization which has received compensation or
payments from or made payments to Park and/or any of our subsidiaries) since
January&nbsp;1, 2007; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>presently expects to receive from or make to Park and/or any of our subsidiaries
(either directly or as a partner, manager, director, trustee, controlling
shareholder, officer, employee or member of an organization which expects to
receive compensation or payments from or make payments to Park and/or any of our
subsidiaries);</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the relationship, if any, between each such individual (and the immediate family
members of each such individual) and the independent registered public accounting firm
which has served as the outside auditor for Park and/or any of our subsidiaries at any
time since January&nbsp;1, 2007;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>whether any such individual (or any immediate family member of any such individual)
is employed as an executive officer of another entity where at any time since January
1, 2007, any of Park&#146;s executive officers served or presently serves on the
compensation committee of such other entity; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>whether any individual who served as a director of Park during the 2009 fiscal year
or any individual who currently serves as a director of Park has participated in the
preparation of the financial statements of Park or any of our current subsidiaries at
any time since January&nbsp;1, 2007.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Based upon that review, consideration and discussion and the unanimous recommendation of the
Nominating Committee, the Board of Directors has determined that at least a majority of its members
qualify as independent directors. The Board of Directors has determined that each of Maureen
Buchwald, James J. Cullers, F. William Englefield IV, Stephen J. Kambeitz, Timothy S. McLain, John
J. O&#146;Neill, Rick R. Taylor, Sarah Reese Wallace and Leon Zazworsky qualifies as an independent
director because the director has no financial or personal ties, either directly or indirectly,
with Park or our subsidiaries other than: (i)&nbsp;compensation received in the individual&#146;s capacity
as a director of Park and a director of Park National Bank (or a member of the board of directors
of one of its divisions); (ii)&nbsp;non-preferential payments made or received in the ordinary course of
providing business services (in the nature of payments of interest or proceeds relating to banking
services or loans by one or more of Park National Bank and/or its divisions); (iii)&nbsp;ownership of
common shares of Park; (iv)&nbsp;in the case of Ms.&nbsp;Buchwald, Ms.&nbsp;Wallace and Mr.&nbsp;Zazworsky, ownership
of 10% Subordinated Notes due December&nbsp;23, 2019 issued by Park to them or related trusts; (v)&nbsp;in
the case of Mr.&nbsp;Cullers, fees for services rendered to one or more of our subsidiaries paid to the
law firm with which he had been associated in an amount which represented less than $50,000 of such
law firm&#146;s consolidated gross revenues in each of the 2007, 2008 and 2009 fiscal years; (vi)&nbsp;in the
case of Mr.&nbsp;O&#146;Neill, compensation received by Mr.&nbsp;O&#146;Neill&#146;s son in his capacity as a director of
Park National Bank; (vii)&nbsp;in the case of Mr.&nbsp;Englefield, the fact that a son of his
is married to a daughter of John W. Kozak, Park&#146;s Chief Financial Officer; and (viii)&nbsp;in the
case of Ms.&nbsp;Wallace, the fact that her father J. Gilbert Reese served as a director of each of Park
and Park National Bank until April&nbsp;20, 2009 and was named Director Emeritus of Park National Bank,
effective April&nbsp;20, 2009. In making the determination that Mr.&nbsp;McLain qualifies as an independent
director, the Board of Directors also reviewed, considered and discussed the fact that Mr.&nbsp;McLain&#146;s
firm has provided miscellaneous tax services to fiduciary customers of Park National Bank and its
divisions in an amount not exceeding $50,000 in each of the 2008 and 2009 fiscal years and
continues to do so and that such services are not provided directly or indirectly to or for the
benefit of Park, Park National Bank or any division of Park National Bank.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In addition, during their tenure on the Board of Directors for portions of the 2009 fiscal
year, upon the unanimous recommendation of the Nominating Committee, the Board of Directors
determined that each of J. Gilbert Reese and Nicholas L. Berning qualified as independent because
each former director had no financial or personal ties, either directly or indirectly, with Park or
our subsidiaries other than: (i)&nbsp;compensation received in such individual&#146;s capacity as a director
of Park and a director of Park National Bank (or a member of the board of directors of one of its
divisions); (ii)&nbsp;non-preferential payments made or received in the ordinary course of providing
business services (in the nature of payments of interest or proceeds relating to banking services
or loans by one or more of Park National Bank and/or its divisions); (iii)&nbsp;ownership of common
shares of Park; (iv)&nbsp;in the case of Mr.&nbsp;Reese, fees for services rendered to one or more of our
subsidiaries paid to the law firm with which he had been associated in an amount which represented
less than $50,000 of such law firm&#146;s consolidated gross revenues in each of the 2007, 2008 and 2009
fiscal years; and (e)&nbsp;in the case of Mr.&nbsp;Reese, compensation received by Mr.&nbsp;Reese&#146;s daughter in
her capacity as a director of Park National Bank.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">C.&nbsp;Daniel DeLawder and David L. Trautman do not qualify as independent directors because they
currently serve as executive officers of Park and Park National Bank. William T. McConnell does
not qualify as an independent director because he is employed in a non-executive officer capacity
by Park National Bank and was formerly an executive officer of Park and Park National Bank.
William A. Phillips does not qualify as an independent director because he is employed in a
non-executive officer capacity by the Century National Division and was formerly an executive
officer of the Century National Division. Harry O. Egger does not qualify as an independent
director because he is employed in a non-executive officer capacity by the Security National
Division and was formerly an executive officer of Park and of the Security National Division.
</DIV>
<DIV align="left">
<A name="127"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Risk Management</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Certain committees of Park&#146;s Board of Directors administer various aspects of its risk
oversight function. The Risk Committee assists the Board of Directors in overseeing Park&#146;s
enterprise-wide risks, including credit risk, market risk, liquidity risk, operational risk, legal
risk and reputational risk. The Risk Committee&#146;s role and its interaction with the full Board of
Directors regarding the Risk Committee&#146;s risk oversight responsibilities are more fully described
under the heading &#147;<B>BOARD OF DIRECTORS STRUCTURE AND MEETINGS &#151; Committees of the Board </B><B><I>&#151; Risk
Committee</I></B>&#148; beginning on page 29. The Compensation Committee evaluates with Park&#146;s senior risk
officers all risks posed by Park&#146;s compensation programs and makes all reasonable efforts required
to limit any unnecessary risks these programs pose to Park and ensure that the programs do not
encourage senior executive officers to take unnecessary and excessive risks that threaten the value
of Park. The Compensation Committee&#146;s role and its interaction with the full Board of Directors
regarding compensation risk are more fully described under the heading &#147;<B>EXECUTIVE COMPENSATION &#151;
Compensation Committee Report</B>&#148; beginning on page 44. The Audit Committee discusses Park&#146;s systems
to monitor and manage business risk with management and Park&#146;s Internal Audit Department. The
Audit Committee&#146;s role and its interaction with the full Board of Directors regarding the Audit
Committee&#146;s risk oversight responsibilities are more fully
described under the heading <B>&#147;BOARD OF DIRECTORS STRUCTURE AND MEETINGS &#151; Committees of the
Board &#151; </B><B><I>Audit Committee</I></B><B>&#148; </B>beginning on page 24.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="128"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Nominating Procedures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Nominating Committee recommended the nominees identified in <B>&#147;PROPOSAL 1 &#151; ELECTION OF
DIRECTORS&#148; </B>for re-election as directors of Park at the Annual Meeting. As detailed in the
Nominating Committee&#146;s charter, the Nominating Committee has the responsibility to identify and
recommend to the full Board of Directors individuals qualified to become directors of Park.
Directors must be shareholders of Park.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Nominating Committee takes into account many factors when considering candidates for the
Board of Directors to ensure that the Board is comprised of directors with a variety of experiences
and backgrounds, each of whom has high-level managerial experience and represents the interests of
Park&#146;s shareholders as a whole rather than those of special interest groups. The Nominating
Committee may consider those factors it deems appropriate when evaluating candidates, including
judgment, skill, diversity, strength of character, experience with businesses and organizations
comparable in size and scope to Park, experience as an executive of or adviser to a publicly-traded
or private company, experience and skill relative to other Board members and any additional
specialized knowledge or experience. Depending on the current needs of Park&#146;s Board of Directors,
certain factors may be weighed more or less heavily by the Nominating Committee. Diversity is
considered by the Nominating Committee when considering nominees because the Board of Directors
believes that Board membership should reflect the diversity of Park&#146;s markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In considering candidates for the Board of Directors, the Nominating Committee evaluates the
entirety of each candidate&#146;s credentials. Other than the requirement that a candidate be a Park
shareholder, there are no specific minimum qualifications that must be met by a Nominating
Committee-recommended nominee. However, the Nominating Committee does believe that all members of
the Board of Directors should have the highest character and integrity, a reputation for working
constructively with others, sufficient time to devote to Board matters and no conflict of interest
that would interfere with performance as a director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Nominating Committee will consider candidates for the Board of Directors from any
reasonable source, including shareholder recommendations. The Nominating Committee does not
evaluate candidates differently based on who has made the recommendation. The Nominating Committee
has the authority under its charter to hire and pay a fee to consultants or search firms to assist
in the process of identifying and evaluating candidates. No such consultants or search firms have
been used by the Nominating Committee or the full Board of Directors to date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Shareholders may recommend director candidates for consideration by the Nominating Committee
by writing to David L. Trautman, Park&#146;s President and Secretary, at our executive offices located
at 50 North Third Street, Post Office Box 3500, Newark, Ohio 43058-3500. The recommendation must
give the candidate&#146;s name, age, business address, residence address, principal occupation and
number of Park common shares beneficially owned. The recommendation must also describe the
qualifications, attributes, skills or other qualities of the recommended director candidate. A
written statement from the candidate consenting to be named as a director candidate and, if
nominated and elected, to serve as a director must accompany any such recommendation.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Any shareholder who wishes to nominate an individual for election as a director at an annual
meeting of the shareholders of Park must comply with Park&#146;s Regulations regarding shareholder
nominations. Shareholder nominations must be made in writing and delivered or mailed to Park&#146;s
President not less than 14&nbsp;days nor more than 50&nbsp;days prior to any meeting of shareholders called
for the
election of directors. However, if less than 21&nbsp;days&#146; notice of the meeting is given to the
shareholders, the nomination must be mailed or delivered to Park&#146;s President not later than the
close of business on the seventh day following the day on which the notice of the meeting was
mailed to the shareholders. Nominations for the 2010 Annual Meeting must be received by April&nbsp;5,
2010. Each shareholder nomination must contain the following information to the extent known by
the nominating shareholder:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the name and address of each proposed nominee;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the principal occupation of each proposed nominee;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the total number of Park common shares that will be voted for each proposed nominee;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the name and residence address of the nominating shareholder; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the number of Park common shares beneficially owned by the nominating shareholder.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Nominations which do not comply with the above requirements and Park&#146;s Regulations will be
disregarded.
</DIV>
<DIV align="left">
<A name="129"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Communications with the Board of Directors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Although Park has not to date developed formal processes by which shareholders may communicate
directly with directors, Park believes that the informal process, in which any communication sent
to the Board of Directors, either generally or in care of the Chief Executive Officer, the
President and Secretary or another officer of Park, is forwarded to all members of the Board of
Directors or specified individual directors, if applicable, has served the needs of the Board of
Directors and Park&#146;s shareholders. There is no screening process in respect of shareholder
communications. All shareholder communications received by an officer of Park for the attention of
the Board of Directors or specified individual directors are forwarded to the appropriate members
of the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s Board of Directors, or one of the Board committees, may consider the development of
more specific procedures related to shareholder communications with the Board. Until other
procedures are developed and posted on the &#147;Governance Documents&#148; section of the &#147;Investor
Relations&#148; page of Park&#146;s website at www.parknationalcorp.com, any communication to the Board of
Directors or to individual directors may be sent to the Board or one or more individual directors,
in care of David L. Trautman, Park&#146;s President and Secretary, at our executive offices located at
50 North Third Street, Post Office Box 3500, Newark, Ohio 43058-3500. The mailing envelope must
contain a clear notation indicating that the enclosed letter is a &#147;Shareholder-Board Communication&#148;
or &#147;Shareholder-Director Communication,&#148; as appropriate. All shareholder communications must
identify the author as a shareholder of Park and clearly state whether the correspondence is
directed to all members of the Board of Directors or to certain specified individual directors.
All shareholder communications will be copied and circulated to the appropriate director or
directors without any screening. Correspondence marked &#147;personal and confidential&#148; will be
delivered to the intended recipient(s) without opening.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="130"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Transactions with Related Persons</B>
</DIV>

<DIV align="left">
<A name="131"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Policies and Procedures with Respect to Related Person Transactions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On an annual basis, each director and each executive officer of Park must complete a
Directors&#146; and Officers&#146; Questionnaire which requires disclosure of any transaction, arrangement or
relationship with Park and/or any of our subsidiaries since the beginning of the last fiscal year
in which the director or executive officer, or any member of his or her immediate family, has or
had a direct or indirect material
interest. In addition, officers of Park and our subsidiaries must provide personal financial
information annually as well as periodic information regarding the incurrence of indebtedness over
$10,000. Park&#146;s Retail Loan Department also reviews information quarterly for any outstanding
loans with Park and/or one of our subsidiaries in which the director or executive officer, or any
member of his or her immediate family, has a direct or indirect material interest. As a part of
its review process, Park&#146;s Retail Loan Department compares information on a quarterly basis to
track originations of any new loans for a director or an executive officer, or any member of his or
her immediate family, and reconciles all then current account information to ensure the data has
been gathered and recorded accurately.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Audit Committee of Park&#146;s Board of Directors is responsible, under the terms of that
Committee&#146;s charter, for reviewing and overseeing procedures designed to identify related person
transactions that are material to Park&#146;s consolidated financial statements or otherwise require
disclosure under applicable NYSE Amex Rules or applicable rules adopted by the SEC, including those
transactions required to be disclosed under Item&nbsp;404 of SEC Regulation&nbsp;S-K. All such transactions
must be approved by the Audit Committee. Further, under the terms of Park&#146;s Code of Business
Conduct and Ethics, the Audit Committee is responsible for reviewing and overseeing all actions and
transactions which involve the personal interest of a director or executive officer of Park and
determining in advance whether any such action or transaction represents a potential conflict of
interest. In addition, under the terms of Park&#146;s Commercial Loan Policy, all loans made to
directors of Park or one of our subsidiaries in excess of $500,000 must be approved by the full
Board of Directors of Park or the applicable Park bank subsidiary. To the extent any transaction
represents an ongoing business relationship with Park or any of our subsidiaries, such transaction
must be reviewed annually and be on terms no more favorable than those which would be usual and
customary in similar transactions between unrelated persons dealing at arms&#146; length.
</DIV>
<DIV align="left">
<A name="132"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Sale of Subordinated Notes</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On December&nbsp;23, 2009, Park entered into a Subordinated Note Purchase Agreement, dated December
23, 2009 (the &#147;Note Purchase Agreement&#148;), with 38 purchasers who qualified as &#147;accredited
investors&#148; (each, a &#147;Subordinated Note Purchaser&#148;). Under the terms of the Note Purchase
Agreement, the Subordinated Note Purchasers purchased from Park an aggregate principal amount of
$35,250,000 of 10% Subordinated Notes due December&nbsp;23, 2019 (each, a &#147;Subordinated Note&#148;). The
Subordinated Notes are intended to qualify as Tier 2 Capital under applicable rules and regulations
of the Board of Governors of the Federal Reserve System (the &#147;Federal Reserve Board&#148;). Each
Subordinated Note was purchased at a purchase price of 100% of the principal amount thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Subordinated Notes mature on December&nbsp;23, 2019 and are not secured by any assets of Park
or any other collateral. The Subordinated Notes may not be prepaid by Park prior to December&nbsp;23,
2014. From and after December&nbsp;23, 2014, Park may prepay all, or from time to time, any part of the
Subordinated Notes at 100% of the principal amount (plus accrued interest) without penalty, subject
to any requirement under the Federal Reserve Board regulations to obtain prior approval before
making any prepayments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The purchases of Subordinated Notes were reviewed in accordance with the policies described
above under the heading &#147;<B><I>Policies and Procedures with Respect to Related Person Transactions</I></B>&#148;.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">Interest on the Subordinated Notes is payable quarterly, at a fixed rate of 10% per annum.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Subordinated Notes were purchased by Maureen Buchwald, C. Daniel DeLawder and his spouse,
Harry O. Egger, John J. O&#146;Neill (through a related trust), William T. McConnell, David L. Trautman
and Leon Zazworsky. In addition, Sarah Reese Wallace and related trusts purchased a total of eight
Subordinated Notes. The following table sets forth certain information regarding the
Subordinated Notes issued to Park directors and related trusts.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Principal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Subordinated</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Outstanding at</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Interest Paid since</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Notes Purchased</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">March 5, 2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">December 23, 2009</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maureen Buchwald</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,222</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">C. Daniel DeLawder and his spouse</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,667</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harry O. Egger</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">222</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John J. O&#146;Neill (through a related trust)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,444</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William T. McConnell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,222</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David L. Trautman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">444</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sarah Reese Wallace and related trusts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">15,556</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leon Zazworsky</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,222</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left">
<A name="133"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Banking Transactions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">During Park&#146;s 2009 fiscal year, executive officers and directors of Park, members of their
immediate families and firms, corporations or other entities with which they are affiliated, were
customers of and had banking transactions (including loans and loan commitments) with Park National
Bank and/or one or more of its divisions in the ordinary course of their respective businesses and
in compliance with applicable federal and state laws and regulations. It is expected that similar
banking transactions will be entered into in the future. Loans to these persons have been made on
substantially the same terms, including the interest rate charged and collateral required, as those
prevailing at the time for comparable transactions with persons not affiliated with Park or one of
our subsidiaries. These loans have been, and are presently, subject to no more than a normal risk
of uncollectibility and present no other unfavorable features. At the close of business on
December&nbsp;31, 2009, the aggregate principal balance of loans to fourteen individuals then serving as
directors and executive officers of Park (including for this purpose Nicholas L. Berning but
excluding Stephen J. Kambeitz and Timothy S. McLain) and their respective associates as a group was
approximately $49.0&nbsp;million. As of the date of this proxy statement, each of the loans described
in this paragraph was performing in accordance with its original terms. Each of the loans
described in this paragraph was subject to our written policies, procedures and standard
underwriting criteria applicable to loans generally as well as made in accordance with the
requirements of Regulation&nbsp;O promulgated by Federal Reserve Board governing prior approval of the
loan by the Board of Directors of the Park subsidiary bank (or division) making the loan.
</DIV>
<DIV align="left">
<A name="134"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>BOARD OF DIRECTORS STRUCTURE AND MEETINGS</B>
</DIV>

<DIV align="left">
<A name="135"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Meetings of the Board of Directors and Attendance at Annual Meetings of Shareholders</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors held eight meetings during the 2009 fiscal year. Each incumbent
director attended at least 75% of the aggregate of the total number of meetings held by the Board
of Directors and the total number of meetings held by the Board committees on which he or she
served, in each case during the period of his or her service. In accordance with applicable NYSE
Amex Rules, the independent directors meet in executive session (without the presence of management
and non-independent directors) immediately following each regular meeting of the Board of Directors
and at such other times as the independent directors deem necessary.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park encourages all incumbent directors and director nominees to attend each annual meeting of
shareholders. All of the thirteen then incumbent directors attended Park&#146;s last annual meeting of
shareholders held on April&nbsp;20, 2009.
</DIV>
<DIV align="left">
<A name="136"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Board Leadership</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">C.&nbsp;Daniel DeLawder serves both as Park&#146;s Chairman of the Board and Chief Executive Officer.
The independent members of Park&#146;s Board of Directors have determined that the most effective Board
leadership structure for Park at the present time is for its Chief Executive Officer to also serve
as Chairman of the Board, a structure that has served Park well for many years. Park does not
possess a lead independent director. The Board of Directors retains the authority to modify this
structure to best address Park&#146;s unique circumstances as and when it deems appropriate. The Board
of Directors believes that its current leadership structure is efficient and effective for Park for
the following reasons:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Chief Executive Officer&#146;s day-to-day management and operation of Park and
execution of Park&#146;s strategy provides the Chief Executive Officer with a comprehensive
understanding of Park&#146;s performance and strategic priorities, which is crucial for
leading discussions by the Board of Directors and executing strategy.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The combined role of Chief Executive Officer and Chairman of the Board promotes
strategy development and execution and facilitates the flow of information between
management and the Board of Directors, which are essential to effective corporate
governance.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Combining the Chief Executive Officer and Chairman of the Board positions fosters
clear accountability, effective decision-making and alignment on corporate strategy.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Park&#146;s existing corporate governance practices &#151; which provide for strong
independent leadership, independent discussion among directors and for independent
evaluation of, and communication with, many members of senior management &#151; achieve
independent oversight or management accountability, which is the goal that many seek to
achieve by separating the roles of Chairman of the Board and Chief Executive Officer.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<A name="137"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Committees of the Board</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">During the 2009 fiscal year, the Board of Directors had six standing committees which held
regularly scheduled meetings &#151; the Audit Committee, the Compensation Committee, the Executive
Committee, the Investment Committee, the Nominating Committee and the Risk Committee.
</DIV>
<DIV align="left">
<A name="138"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Audit Committee</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors has an Audit Committee which was established in accordance with Section
3(a)(58)(A) of the Exchange Act and is currently comprised of Stephen J. Kambeitz (Chair), Maureen
Buchwald, Timothy S. McLain and Leon Zazworsky. Ms.&nbsp;Buchwald and Mr.&nbsp;Zazworsky served as members
of the Audit Committee during the entire 2009 fiscal year. Nicholas L. Berning also served as a
member and Chair of the Audit Committee from January&nbsp;1, 2009 until December&nbsp;31, 2009. Each of
Stephen J. Kambeitz and Timothy S. McLain was appointed to the Audit Committee effective as of the
close of business on December&nbsp;31, 2009, and Mr.&nbsp;Kambeitz was also appointed Chair of the Audit
Committee at that time. Upon the recommendation of the Nominating Committee, the Board of
Directors has determined that each current member of the Audit Committee qualifies as an
independent director under the applicable NYSE Amex Rules and under SEC Rule&nbsp;10A-3 and that Mr.
Berning also qualified as an independent director during his period of service on the Audit
Committee.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Upon the recommendation of the Nominating Committee, the Board of Directors has also
determined that each of Ms.&nbsp;Buchwald, Mr.&nbsp;Kambeitz and Mr.&nbsp;McLain qualifies as an &#147;audit committee
financial expert&#148; for purposes of Item&nbsp;407(d)(5) of SEC Regulation&nbsp;S-K and satisfies the financial
sophistication requirement of the NYSE Amex Rules. Ms.&nbsp;Buchwald served as Vice President of
Administration and Secretary of the Board of Directors of Ariel Corporation for more than 20&nbsp;years
prior to her retirement in 1997. In her capacity as Vice President of Administration, Ms.&nbsp;Buchwald
oversaw the accounting functions of Ariel Corporation. Mr.&nbsp;Kambeitz has served as President since
2008 and Chief Financial Officer since 2001 of R.C. Olmstead, Inc. and prior to thereto, served as
Chief Financial Officer from 1999 to 2001 of Lighthouse Financial Services, Inc. Mr.&nbsp;Kambeitz&#146;s
past professional experience includes service in financial or accounting roles with Fifth Third
Bank; State Savings Company, where he served as Chief Financial Officer; Calibre Corporation;
Worthington Industries, Inc.; and Peat, Marwick, Mitchell and Company. Mr.&nbsp;McLain is a Certified
Public Accountant who has been associated with the firm McLain, Hill, Rugg &#038; Associates, Inc. since
1979, serving as Vice President since 1991. In addition to the qualification of each of Ms.
Buchwald, Mr.&nbsp;Kambeitz and Mr.&nbsp;McLain as an &#147;audit committee financial expert,&#148; Park&#146;s Board of
Directors strongly believes that each of the members of the Audit Committee is highly qualified to
discharge the member&#146;s duties on behalf of Park and our subsidiaries and satisfies the financial
literacy requirement of the NYSE Amex Rules.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Audit Committee is organized and conducts its business pursuant to a written charter
adopted by the Board of Directors (the &#147;Audit Committee Charter&#148;). A copy of the Audit Committee
Charter is posted on the &#147;Governance Documents&#148; section of the &#147;Investor Relations&#148; page of Park&#146;s
Internet Web site at www.parknationalcorp.com. At least annually, the Audit Committee reviews and
reassesses the adequacy of the Audit Committee Charter and recommends changes to the full Board of
Directors as necessary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Audit Committee is responsible, among other things, for:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>overseeing the accounting and financial reporting processes of Park and our
subsidiaries;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>overseeing the audits of the consolidated financial statements of Park;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>appointing, compensating and overseeing the work of the independent registered
public accounting firm engaged by Park for the purpose of preparing or issuing an audit
report or performing related work for Park or any of our subsidiaries;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>determining hiring policies for employees or former employees of Park&#146;s independent
registered public accounting firm;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>appointing and determining the compensation for the Chief Auditor (the Head of the
Internal Audit Department), reviewing and approving the Internal Audit Department
budget, determining the compensation for all of the staff auditors, reviewing and
approving the Internal Audit Procedures Manual and overseeing the work of the Internal
Audit Department;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>instituting procedures for the receipt, retention and treatment of complaints
received by Park regarding accounting, internal accounting controls or auditing
matters, which procedures are outlined in Park&#146;s Code of Business Conduct and Ethics;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewing and approving transactions with Park and/or any of our subsidiaries in
which a director or executive officer of Park, or any member of his or her immediate
family, has a direct or indirect interest;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewing all significant regulatory examination findings requiring corrective
action;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>assisting the Board of Directors in the oversight of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the integrity of Park&#146;s consolidated financial statements and the effectiveness
of Park&#146;s internal control over financial reporting;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the performance of Park&#146;s independent registered public accounting firm and
Park&#146;s Internal Audit Department;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the independent registered public accounting firm&#146;s qualifications and
independence; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the legal compliance and ethics programs established by Park&#146;s management and
the full Board of Directors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In addition, the Audit Committee reviews and pre-approves all audit services and permitted
non-audit services provided by the independent registered public accounting firm to Park or any of
our subsidiaries and ensures that the independent registered public accounting firm is not engaged
to perform the specific non-audit services prohibited by law, rule or regulation. The Audit
Committee will also carry out any other responsibilities delegated to the Audit Committee by the
full Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Audit Committee met 10 times during the 2009 fiscal year. The Audit Committee&#146;s report
relating to the 2009 fiscal year begins at page 65.
</DIV>
<DIV align="left">
<A name="139"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Compensation Committee</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors has a Compensation Committee which is currently comprised of F. William
Englefield IV (Chair), John J. O&#146;Neill and Leon Zazworsky. Messrs.&nbsp;Englefield, O&#146;Neill and
Zazworsky served as members of the Compensation Committee during the entire 2009 fiscal year. Mr.
Englefield was appointed to serve as Chair of the Compensation Committee on January&nbsp;26, 2009. Mr.
J. Gilbert Reese served as Chair of the Compensation Committee from January 1 until January&nbsp;26,
2009 and as a member of the Compensation Committee from January&nbsp;1, 2009 to April&nbsp;20, 2009. Upon
the recommendation of the Nominating Committee, the Board of Directors has determined that each
current member of the Compensation Committee qualifies as an independent director under the
applicable NYSE Amex Rules and that Mr.&nbsp;Reese also so qualified during his period of service on the
Compensation Committee. In addition, each current Compensation Committee member qualifies as an
outside director for purposes of Section 162(m) of the Internal Revenue Code of 1986, as amended
(the &#147;Internal Revenue Code&#148;), and as a non-employee director for purposes of SEC Rule&nbsp;16b-3, and
Mr.&nbsp;Reese also so qualified during his period of service on the Compensation Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The executive compensation standards under the ARRA and the Interim Final Rule require that,
during the ARRA Covered Period, Park establish and maintain a compensation committee consisting
solely of independent directors for the purpose of reviewing employee compensation plans. The
Compensation Committee is a &#147;compensation committee&#148; for purposes of the ARRA and the Interim Final
Rule. The ARRA and the Interim Final Rule require that the Compensation Committee meet at least
every six months and take the following actions:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Discuss, evaluate and review all SEO Compensation Plans (as defined in the Interim
Final Rule) with Park&#146;s senior risk officer to ensure that the SEO Compensation Plans
do not include incentives for our Senior Executive Officers (as defined in the Interim
Final Rule) to take unnecessary and excessive risks that could threaten Park&#146;s value.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Discuss, evaluate and review all Employee Compensation Plans (as defined in the Interim
Final Rule) with Park&#146;s senior risk officer in light of the risks (including the
short-term and long-term risks) posed to Park by such Employee Compensation Plans and
how to limit such risks.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Discuss, evaluate and review all Employee Compensation Plans and identify and
eliminate features in the Employee Compensation Plans that could encourage the
manipulation of reported earnings to enhance the compensation of any employee.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee is required to both disclose the results, and certify completion,
of the reviews described above in the Compensation Committee Report. The disclosure and
certifications in the form required by the Interim Final Rule issued by the U.S. Treasury are
included in the section captioned &#147;<B>EXECUTIVE COMPENSATION &#151; Compensation Committee Report</B>&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee is organized and conducts its business pursuant to a written
charter adopted by the Board of Directors (the &#147;Compensation Committee Charter&#148;). A copy of the
Compensation Committee Charter is posted on the &#147;Governance Documents&#148; section of the &#147;Investor
Relations&#148; page of Park&#146;s Internet Web site at www.parknationalcorp.com. The Compensation Committee
periodically reviews and reassesses the adequacy of the Compensation Committee Charter and
recommends changes to the full Board of Directors as necessary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Compensation Committee&#146;s primary responsibilities include:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewing with Park&#146;s management and approving the general compensation policy for
the executive officers of Park and those other employees of Park and our subsidiaries
which the full Board of Directors directs;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>evaluating the performance of Park&#146;s executive officers in light of goals and
objectives approved by the Compensation Committee and determining those executive
officers&#146; compensation based on that evaluation;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>administering Park&#146;s equity-based plans and any other plans requiring Compensation
Committee administration and approving awards as required to comply with applicable
laws, rules and regulations;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>overseeing the preparation of the compensation discussion and analysis and
recommending to the full Board of Directors the inclusion of such compensation
discussion and analysis in the annual proxy statement of Park in accordance with
applicable NYSE Amex Rules and applicable SEC rules;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>recommending to the Board of Directors the compensation for directors; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewing and making recommendations to the full Board of Directors with respect to
incentive compensation plans and equity-based plans in accordance with applicable laws,
rules and regulations.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee reviews Park&#146;s organizational structure and succession plans for
Park&#146;s executive officers with the full Board of Directors as needed. The Compensation Committee
also carries out any other responsibilities delegated to the Compensation Committee by the full
Board of Directors.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee has the authority to retain one or more compensation consultants to
assist in the evaluation of director and executive officer compensation. The Compensation
Committee has sole authority to retain and terminate any such compensation consultants, including
sole authority to approve the consultants&#146; fees and other retention terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In 2008 and 2009, the Compensation Committee retained Towers Perrin to review Park&#146;s
compensation program. Please see the discussion under the heading <B>&#147;EXECUTIVE COMPENSATION &#151;
Compensation Discussion and Analysis &#151; </B><B><I>Compensation-Setting Process </I></B>&#151; <I>Role of Compensation
Consultant&#148; </I>beginning on page 33 for a detailed explanation of the services rendered by Towers
Perrin.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee met six times during the 2009 fiscal year. The compensation
discussion and analysis regarding executive compensation for the 2009 fiscal year begins at page 31
and the Compensation Committee Report for the 2009 fiscal year begins on page 44.
</DIV>
<DIV align="left">
<A name="140"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Executive Committee</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors has an Executive Committee which is currently comprised of William T.
McConnell (Chair), C. Daniel DeLawder (Vice Chair), Harry O. Egger, F. William Englefield IV, John
J. O&#146;Neill and Leon Zazworsky. Each current member of the Executive Committee also served during
the entire 2009 fiscal year. J. Gilbert Reese also served as a member of the Executive Committee
from January&nbsp;1, 2009 to April&nbsp;20, 2009. David L. Trautman serves as a non-member Secretary to the
Executive Committee. The Executive Committee may exercise, to the fullest extent permitted by law
and not delegated to another committee of the Board of Directors, all of the powers and authority
granted to the Board. The Executive Committee assists the Board of Directors in overseeing the
staff employees who perform independent loan review functions at the subsidiaries of Park and
determines the compensation of these staff employees. The Executive Committee met 17 times during
the 2009 fiscal year.
</DIV>
<DIV align="left">
<A name="141"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Investment Committee</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors has an Investment Committee which is currently comprised of C. Daniel
DeLawder (Chair), Harry O. Egger, William T. McConnell, John J. O&#146;Neill, Rick R. Taylor and David
L. Trautman. Each current member of the Investment Committee also served during the entire 2009
fiscal year. The Investment Committee reviews the activity in the investment portfolio of Park and
our subsidiary banks, monitors compliance with Park&#146;s investment policy and assists management with
the development of investment strategies. The Investment Committee met four times during the 2009
fiscal year.
</DIV>
<DIV align="left">
<A name="142"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Nominating Committee</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors has a Nominating Committee which is currently comprised of John J.
O&#146;Neill (Chair), F. William Englefield IV and Leon Zazworsky. Each current member of the
Nominating Committee also served during the entire 2009 fiscal year. J. Gilbert Reese also served
as a member of the Nominating Committee from January&nbsp;1, 2009 to April&nbsp;20, 2009. The Board of
Directors has determined that each current member of the Nominating Committee qualifies as an
independent director under the applicable NYSE Amex Rules and that Mr.&nbsp;Reese also so qualified
during his period of service on the Nominating Committee.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Nominating Committee is organized and conducts its business pursuant to a written charter
adopted by the Board of Directors (the &#147;Nominating Committee Charter&#148;). A copy of the Nominating
Committee Charter is posted on the &#147;Governance Documents&#148; section of the &#147;Investor Relations&#148; page
of Park&#146;s Internet Web site at www.parknationalcorp.com. The Nominating Committee periodically
reviews and reassesses the adequacy of the Nominating Committee Charter and recommends changes to
the full Board of Directors as necessary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The primary purpose of the Nominating Committee is to identify qualified candidates for
election, nomination or appointment to the Board of Directors and to recommend to the full Board a
slate of director nominees for each annual meeting of the shareholders of Park or as vacancies
occur between annual meetings of the shareholders. In addition, the Nominating Committee provides
oversight on matters surrounding the composition and operation of the Board of Directors, including
the evaluation of Board performance and processes, and makes recommendations to the full Board in
the areas of Board committee selection, including Board committee chairpersons and committee
rotation practices. The Nominating Committee also carries out any other responsibilities delegated
to the Nominating Committee by the full Board of Directors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Nominating Committee met four times during the 2009 fiscal year.
</DIV>
<DIV align="left">
<A name="143"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Risk Committee</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Board of Directors has a Risk Committee which is currently comprised of Leon Zazworsky
(Chair), James J. Cullers and F. William Englefield IV. Each current member of the Risk Committee
also served during the entire 2009 fiscal year. The Risk Committee assists the Board of Directors
in overseeing Park&#146;s enterprise-wide risks, including credit risk, market risk, liquidity risk,
operational risk, legal risk and reputational risk. Towards this end, the Risk Committee monitors
the level and trend of key risks, management&#146;s compliance with risk tolerances established by the
Board of Directors and the Park National Corporation Enterprise Risk Management Policy. The Risk
Committee also oversees and reviews the effectiveness of Park&#146;s system for monitoring compliance
with laws and regulations, reviews the status of material pending litigation, monitors whether
material new initiatives have been appropriately analyzed and approved and reviews all regulatory
information directed to the Board of Directors&#146; attention and the adequacy of management&#146;s
response. The Risk Committee met six times during the 2009 fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Risk Committee is organized and conducts its business pursuant to a written charter
adopted by the Board of Directors (the &#147;Risk Committee Charter&#148;). A copy of the Risk Committee
Charter is posted on the &#147;Governance Documents&#148; section of the &#147;Investor Relations&#148; page of Park&#146;s
Internet Web site at www.parknationalcorp.com. At least annually, the Risk Committee reviews and
reassesses the adequacy of the Risk Committee Charter and recommends changes to the full Board of
Directors as necessary.
</DIV>
<DIV align="left">
<A name="144"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee of Park&#146;s Board of Directors is currently comprised of F. William
Englefield IV (Chair), John J. O&#146;Neill and Leon Zazworsky. Messrs.&nbsp;Englefield, O&#146;Neill and
Zazworsky served as members of the Compensation Committee during the entire 2009 fiscal year. Mr.
J. Gilbert Reese served as a member of the Compensation Committee from January&nbsp;1, 2009 to April&nbsp;20,
2009. All of the current members of the Compensation Committee are independent directors as was
Mr.&nbsp;Reese during his period of service, and none of them is a present or past employee or officer
of Park or any of our subsidiaries. During the 2009 fiscal year, none of Park&#146;s executive officers
served on the board of directors or compensation committee (or other committee serving an
equivalent function) of any other entity, one of whose executive officers served on Park&#146;s Board of
Directors or Compensation Committee.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>



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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Each of Messrs.&nbsp;Englefield, O&#146;Neill, Reese and Zazworsky as well as members of their immediate
families and firms, corporations or other entities with which they are affiliated were customers of
and had banking transactions (including loans and loan commitments) with Park National Bank and its
divisions, in the ordinary course of their respective businesses and in compliance with applicable
federal and state laws and regulations. The loans to these persons were made on substantially the
same terms, including the interest rate charged and collateral required, as those prevailing at the
time for comparable transactions with persons not affiliated with Park or one of our subsidiaries.
In addition, the loans to these persons have been, and are presently, subject to no more than a
normal risk of uncollectibility and present no other unfavorable features.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On December&nbsp;23, 2009, under the terms of the Note Purchase Agreement, John J. O&#146;Neill (through
a related trust) purchased a Subordinated Note in the principal amount of $2,000,000 and Leon
Zazworsky purchased a Subordinated Note in the principal amount of $1,000,000. Each Subordinated
Note was purchased at a purchase price of 100% of the principal amount thereof. The Subordinated
Notes mature on December&nbsp;23, 2019. Interest on the Subordinated Notes is payable quarterly, at a
fixed rate of 10% per annum. During the 2009 fiscal year, Mr.&nbsp;O&#146;Neill (through the related trust)
was paid interest in the amount of $4,444 and Mr.&nbsp;Zazworsky was paid interest in the amount of
$2,222.
</DIV>
<DIV align="left">
<A name="145"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>EXECUTIVE OFFICERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following are the executive officers of Park, all of whom are elected annually and serve
at the pleasure of the Board of Directors of Park. This table lists each executive officer&#146;s age
as of the date of this proxy statement as well as the positions presently held by each executive
officer with Park and our principal subsidiaries and his individual business experience.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="66%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Positions Held with Park and Our</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Age</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Principal Subsidiaries and Principal Occupation</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD align="left" valign="top" nowrap>C. Daniel DeLawder
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">60</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Chairman of the Board since January&nbsp;2005,
Chief Executive Officer since January&nbsp;1999, a
Member of the Board of Directors since April
1994 and President from 1994 to December&nbsp;2004,
of Park; Chairman of the Board since January
2005, Chief Executive Officer since January
1999, President from 1993 to December&nbsp;2004,
Executive Vice President from 1992 to 1993,
and a Member of the Board of Directors since
1992, of Park National Bank; a Member of the
Board of Directors of Vision Bank
headquartered in Panama City, Florida since
March&nbsp;2007 and a Member of the Board of
Directors of the Vision Bank Division of Gulf
Shores, Alabama since March&nbsp;2007; a Member of
the Board of Directors from 1985 to March
2006, Chairman of the Board of Directors from
1989 to 2003, and President from 1985 to 1992,
of the Fairfield National Division; a Member
of the Board of Directors of the Richland
Trust Division from 1997 to January&nbsp;2006; a
Member of the Board of Directors of the Second
National Division from 2000 to March&nbsp;2006</DIV></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="66%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Positions Held with Park and Our</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Age</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Principal Subsidiaries and Principal Occupation</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD align="left" valign="top" nowrap>David L. Trautman
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">48</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">President since January&nbsp;2005, Secretary since
July&nbsp;2002 and a Member of the Board of
Directors since January&nbsp;2005, of Park;
President since January&nbsp;2005 and a Member of
the Board of Directors since 2002 of Park
National Bank; Chairman of the Board from
March&nbsp;2001 to March&nbsp;2006, a Member of the
Board of Directors from May&nbsp;1997 to March
2006, and President and Chief Executive
Officer from May&nbsp;1997 to February&nbsp;2002, of the
First-Knox National Division; Executive Vice
President from February&nbsp;2002 to December&nbsp;2004
and Vice President from July&nbsp;1993 to June&nbsp;1997
of Park National Bank; a Member of the Board
of Directors of the United Bank Division from
2000 to March&nbsp;2006</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD align="left" valign="top">John W. Kozak
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">54</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Chief Financial Officer of Park since April
1998; Senior Vice President since January
1999, Chief Financial Officer since April
1998, a Member of the Board of Directors since
December&nbsp;2006, and Vice President from 1991 to
1998, of Park National Bank; Chief Financial
Officer from 1980 to 1991, and a Member of the
Board of Directors from 1988 to May&nbsp;2006 of
the Century National Division (1)</DIV></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>A daughter of Mr.&nbsp;Kozak is married to a son of F. William Englefield IV, a director of
Park.</TD>
</TR>
</TABLE>


<DIV align="left">
<A name="146"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>EXECUTIVE COMPENSATION</B>
</DIV>

<DIV align="left">
<A name="147"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Compensation Discussion and Analysis</B>
</DIV>

<DIV align="left">
<A name="148"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Compensation Philosophy and Objectives</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s success depends largely on the contributions of motivated, focused and energized people
all working to achieve our strategic objectives. Park, with the guidance and approval of the
Compensation Committee of the Board of Directors, has developed compensation programs for Park&#146;s
executive officers, including the Chief Executive Officer, the President and the Chief Financial
Officer named in the Summary Compensation Table for 2009 (collectively, the &#147;named executive
officers&#148; or &#147;NEOs&#148;), that are intended to provide a total compensation package that:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Attracts, rewards and retains the named executive officers as well as other
high-quality employees.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Motivates such individuals to achieve Park&#146;s annual, long-term and strategic goals.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Rewards individual effort and performance with the primary objective of improving
return on shareholders&#146; equity.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provides total compensation that is consistent with Park&#146;s performance and is
competitive with other bank holding companies similar in size to Park.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Encourages ownership of common shares by the named executive officers and other
officers of Park and its subsidiaries to foster an ownership culture.</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park meets these objectives through current and long-term as well as cash and non-cash
compensation elements. The elements of named executive officer compensation consist of base
salary, annual incentive compensation (bonuses), stock options, benefits and perquisites. Each
element of compensation meets one or more of the objectives described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In addition, Park&#146;s executive compensation program in 2009 needed to comply with the
limitations contained in Park&#146;s Securities Purchase Agreement with the U.S. Treasury as well as
those imposed by the ARRA and the Interim Final Rule, which affected Park&#146;s executive compensation
program by:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Limiting the tax deductibility of compensation paid to any of Park&#146;s Senior
Executive Officers in excess of $500,000 per year. In Park&#146;s case, the tax
deductibility of compensation has not influenced the design of its executive
compensation program.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prohibiting the payment or accrual of any bonus, retention award or incentive
compensation to any of Park&#146;s five most highly-compensated employees, except in limited
circumstances.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Barring the payment of golden parachute payments to select highly-paid employees
upon a departure from Park or due to a change in control of Park, except for services
performed or benefits accrued. In Park&#146;s case, golden parachute arrangements have not
been part of the executive compensation program.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Requiring the recovery (&#147;clawback&#148;) of any bonus, retention award or incentive
compensation paid to a select group of highly-paid employees if the payment was based
on materially inaccurate financial statements or any other materially inaccurate
performance metric criteria. In Park&#146;s case, it can clawback SERP benefits and common
 shares received upon exercise of stock options. Park&#146;s named executive officers are
not eligible to receive bonuses or other forms of incentive compensation while Park
participates in the Capital Purchase Program. As a result, there will be no such
amounts to clawback.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Banning any compensation plan that would encourage the manipulation of Park&#146;s
reported earnings to enhance the compensation of any of the employees of Park or its
subsidiaries. Park believes that its compensation plans do not encourage earnings
manipulation.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prohibiting SEO Compensation Plans that encourage Senior Executive Officers to take
unnecessary and excessive risks that threaten the value of Park. Park believes that its
compensation plans do not encourage undue risk-taking.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Eliminating any &#147;tax gross-ups&#148; to any Senior Executive Officer or a select group of
highly-paid employees. In Park&#146;s case, it has not provided income tax gross-ups.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Requiring the limitation of any compensation plan that unnecessarily exposes Park to
risk. Park believes that its compensation plans do not unnecessarily expose Park to
risk.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Requiring that Park disclose to the U.S. Treasury and our primary regulator the
amount, nature and justification for offering to any of our five most
highly-compensated employees any perquisites whose total value exceeds $25,000. The
perquisites offered by Park to its five most highly-compensated employees have not
triggered this disclosure obligation.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Requiring that we disclose to the U.S. Treasury and our primary regulator whether
Park, the Park Board of Directors or the Compensation Committee engaged a compensation
consultant and the services performed by that compensation consultant and any of its
affiliates.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Requiring that we disclose to the U.S. Treasury the identity of a select group of
highly-paid employees, identified by name and title and ranked in descending order of
annual compensation.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subjecting any bonus, retention award or other compensation paid before February&nbsp;17,
2009 to a select group of highly-paid employees to retroactive review by the U.S.
Treasury to determine whether any such payments were inconsistent with the purposes of
TARP or otherwise contrary to the public interest.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The ARRA and the Interim Final Rule also required that the Park Board of Directors adopt a
company-wide policy regarding &#147;excessive or luxury expenditures,&#148; which was adopted on September&nbsp;4,
2009, and post this policy on Park&#146;s website. Park must also permit in our proxy statements for
annual meetings of shareholders a non-binding &#147;say on pay&#148; shareholder vote on executive
compensation, as disclosed in each such proxy statement pursuant to the compensation disclosure
rules of the SEC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s named executive officers and other employees who are subject to the executive
compensation limitations of the ARRA have entered into letter agreements. These agreements amend
the compensation and benefit plans in which these individuals participate to comply with the
limitations imposed by the ARRA and the Interim Final Rule.
</DIV>
<DIV align="left">
<A name="149"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Compensation-Setting Process</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Three parties play an important role in helping set the compensation for Park&#146;s officers: (i)
the Compensation Committee; (ii)&nbsp;senior management; and (iii)&nbsp;outside advisors. The sections that
follow describe the role which each of these parties plays in the compensation-setting process.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Role of the Compensation Committee</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s executive compensation program is administered by the Compensation Committee. The
Compensation Committee evaluates compensation and performance on an annual basis to ensure Park&#146;s
executive compensation program is equitably based depending on each individual&#146;s level of
responsibility. The Compensation Committee meets with the named executive officers to solicit and
obtain recommendations with respect to Park&#146;s compensation programs and practices. However, the
Compensation Committee makes the final determinations with respect to all forms of compensation for
officers and none of Park&#146;s officers has a role in the final deliberations and decisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In carrying out its oversight responsibilities, the Compensation Committee is supported by
independent executive compensation consultants and by management. In regards to the former, the
Compensation Committee has the sole authority to retain and terminate any executive compensation
consulting firm used to evaluate Park&#146;s executive compensation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Role of Compensation Consultant</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Historically, the Compensation Committee had not engaged or relied upon compensation
consultants. However, in 2008 and 2009, the Compensation Committee retained the services of Towers
Perrin, an independent human resources consulting company with nationally-recognized experience and
credentials. Towers Perrin&#146;s role was to identify competitive pay levels &#091;salaries, annual
bonuses, total cash compensation (salary plus bonus), long-term incentives and total direct
compensation (cash
compensation and long-term incentives)&#093;, determine ways to improve Park&#146;s compensation program
and assist in developing design details. In 2008, Towers Perrin provided the Compensation
Committee with a report on its findings, which the Compensation Committee accepted but has delayed
in making changes to Park&#146;s compensation program as a result of the limitations on executive
compensation imposed by the ARRA and the Interim Final Rule.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Towers Perrin&#146;s report provided the Compensation Committee with competitive market data from
two main sources. Pay data were collected and analyzed from the proxy statements for a group of
similarly-sized bank holding companies located in the Midwest. Towers Perrin selected peers on
this basis which were then reviewed with management and the Compensation Committee. Total assets
for these bank holding companies generally ranged from one-half to twice the size of Park&#146;s total
assets. Median total assets for the group approximated Park&#146;s total assets in 2008. As a result,
one would have expected Park&#146;s pay to approximate the median of the group if Park&#146;s pay
opportunities and performance were comparable to those of these peers. The bank holding companies
were located in Indiana, Michigan, Ohio, eastern Pennsylvania, and West Virginia, markets that are
similar to those in which Park operates. The peer group of bank holding companies included the
following:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Capitol Bancorp Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fulton Financial Corporation</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Chemical Financial Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Harleysville National Corporation</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Citizens Republic Bancorp, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Independent Bank Corporation</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First Commonwealth Financial Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Integra Bank Corporation</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First Financial Bancorp.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Irwin Financial Corp.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> Source Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">National Penn Bancshares, Inc.</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First Merchants Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Old National Bancorp</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">FirstMerit Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Susquehanna Bancshares, Inc.</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Flagstar Bancorp, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United Bankshares, Inc.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">F.N.B. Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">WesBanco, Inc.</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In addition to proxy statements of these peer bank holding companies, Towers Perrin reviewed
data obtained from nationally-recognized pay surveys that included hundreds of bank holding
companies with total assets comparable to the amount of Park&#146;s total assets. These additional data
helped confirm results found in the proxy statements of Park&#146;s peer bank holding companies and
represented the broader banking industry market within which Park competes for executives. Data
from both sources were used to develop &#147;competitive&#148; base salaries, annual bonuses, total cash
compensation (salary plus bonus), long-term incentives and total direct compensation (cash
compensation plus long-term incentives) for the Chief Executive Officer and other officers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">Towers Perrin has not been engaged to provide any other services to Park or its management.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Role of Park&#146;s Senior Management</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s management supports the Compensation Committee in the Committee&#146;s assessment of
executive compensation, implements decisions made by the Compensation Committee and ensures that
Park&#146;s compensation plans are administered in accordance with the provisions of the plans. Park&#146;s
management provides Towers Perrin with the information Towers Perrin needs to complete its work for
the Compensation Committee. Park&#146;s named executive officers and the Senior Vice President, Human
Resources and Marketing participate in an advisory capacity in the Compensation Committee&#146;s
meetings and provide the Compensation Committee with data and analyses as requested. The
Compensation Committee has authorized the Chief Executive Officer and the President to determine
the compensation for the presidents of each subsidiary bank and its divisions as well as senior
vice presidents of Park
National Bank. In addition, the Chief Executive Officer and the President are authorized to
approve the compensation for each other officer of each subsidiary bank and its divisions.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="150"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Elements of the Compensation Program</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s executive compensation program reflects its pay philosophy and objectives.
Historically, Park&#146;s compensation program has included the following key elements:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Element</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Primary Purpose</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Factors Increasing or Decreasing Rewards</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Base Salary
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Reward an
individual&#146;s
skills,
competencies,
experience and
performance
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Individual objectives</DIV>
<DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Executive duties</DIV>
<DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Leadership</DIV>
<DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Evaluation of Park&#146;s performance</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Annual <BR>
Incentives
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Motivate and reward
achievement of
annual financial
objectives and
individual goals
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Return on Equity of Park</DIV>
<DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Subsidiary bank or subsidiary
bank division results</DIV>
<DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Individual performance</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stock Options
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Motivate and reward
for long-term stock
price appreciation
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Stock price growth</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Benefits and
Perquisites
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Provide for basic
life and income
security needs and
recognize career
contributions
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:21px; text-indent:-21px"><B>&#149;</B>&nbsp;&nbsp;&nbsp;Service with Park</DIV></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park does not have a prescribed mix between short-term and long-term compensation or between
cash and non-cash compensation. However, Park has, until recently, tried to provide a balanced mix
of base salary and annual incentives when Park&#146;s return on equity performance was competitive with
the median results of the banking holding companies of similar asset size to Park. This approach
offered reasonable balance in the reward program and appropriately emphasized performance that
created value for shareholders. However, Park changed this approach in 2009 as a result of the
ARRA&#146;s preliminary guidelines regarding executive compensation and the prohibition on annual
incentives and stock options. As a result, 100% of the named executive officers&#146; compensation in
2010 will be in the form of base salary. The following sections describe in more detail the
elements of Park&#146;s compensation program.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Base Salary</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Overview</U><I>. </I>Base salary is the guaranteed part of an executive&#146;s compensation. Park
pays base salary to recognize the skills, competencies, experience and individual performance an
executive brings to his or her position. As a result, changes in base salary result primarily from
changes in the executive&#146;s responsibilities and an assessment of his or her annual performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Process to Review Base Salaries</U><I>. </I>Base salaries are reviewed annually as part of
Park&#146;s performance review process and upon an executive&#146;s promotion or change in duties.
Generally, the Chief Executive Officer provides the Compensation Committee with an assessment of
the President&#146;s and the Chief Financial Officer&#146;s performance as well as a summary of the Chief
Executive Officer&#146;s results for the year. On occasion, the Compensation Committee would also
receive salary data for other executives in similar positions at bank holding companies similar in
asset size to Park. In the fall of 2008, Towers Perrin provided the Compensation Committee such
information for its consideration in making changes to the salaries of Park&#146;s named executive
officers. Based on this process &#151; review of each named executive officer&#146;s performance during the
year, an assessment of his performance by the Chief Executive Officer
and the Compensation Committee, review of competitive market data provided by Towers Perrin
and consideration of the Chief Executive Officer&#146;s recommendations &#151; the Compensation Committee
determines the appropriate adjustment, if any, to be made to each named executive officer&#146;s base
salary.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Factors Used to Adjust Base Salaries</U><I>. </I>The Compensation Committee considers a number
of factors in determining base salary increases for Park&#146;s named executive officers, including:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Performance of each individual during the prior year, which aligns changes in
compensation to results.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Recent and projected financial results for Park, which emphasizes sound fiscal
management.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Projected merit increases and pay changes of other executives of Park, which
reinforces the team concept within Park&#146;s management.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Base salaries for executives with similar duties and responsibilities at other bank
holding companies of similar asset size, which ensures Park&#146;s compensation is not too
high or too low on a comparative basis.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The projected mix of cash compensation between base salary and annual
incentives/bonuses which Park has normally targeted at 50% for each in order to balance
fixed and short-term variable compensation.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">While other factors may also be considered, the value of previously-granted stock options is
not considered in determining changes in officers&#146; base salaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Base Salaries for 2009</U><I>. </I>The Compensation Committee and the Chief Executive Officer
believed Park&#146;s named executive officers performed well in 2008, especially in the face of the
deteriorating economic environment during the last quarter of 2008. Nowhere was this more clearly
demonstrated than in the financial performance of Park&#146;s Ohio-based subsidiaries. Net income for
Park&#146;s Ohio-based subsidiaries improved by 14% from $83&nbsp;million in 2007 to $95&nbsp;million in 2008.
The net loss at Vision Bank, however, increased significantly. As a result, the Chief Executive
Officer recommended and the Compensation Committee approved no increase in the base salary of any
of Park&#146;s named executive officers for 2009.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Annual Incentives</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Overview</U>. Historically, officers of Park and its subsidiaries, including Park&#146;s named
executive officers, were eligible to earn annual incentives under Park&#146;s annual incentive plan.
Bonuses under the plan increased officers&#146; focus on specific short-term corporate financial goals.
As a result, the annual incentive plan balanced the objectives of Park&#146;s other compensation
programs, which concentrated on individual performance (base salaries), long-term financial results
and stock price growth (stock options). Finally, annual bonuses allowed Park to manage fixed
compensation costs but still provide executives with competitive cash compensation in the form of
base salaries and annual bonuses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Historical Process for Determining Annual Incentive Awards</U>. In the past, Park funded
annual incentives based on Park&#146;s annual return on equity (&#147;ROE&#148;, calculated as net income divided
by average shareholders&#146; equity). Park believes tying annual bonuses to ROE makes sense for
several important reasons. Annual ROE measures how efficiently Park utilizes the capital
shareholders have invested in Park. It also assesses how much return Park&#146;s management provides
shareholders for that investment. Finally, there is a strong correlation between a company&#146;s ROE
and its stock price, aligning executives&#146; rewards with value created for shareholders.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Historically, Park&#146;s ROE results, relative to a group of similarly-sized bank holding
companies, funded the pool for annual incentives. This approach provided the most objective method
for tying executives&#146; bonuses to performance. In other words, the Compensation Committee and
management did not need to set goals that may be seen as arbitrary or not sufficiently demanding.
The approach also reflected how investors look at Park&#146;s results in making their investment
decisions. It also measured how well Park is responding to the operating environment that is
facing other bank holding companies similar in asset size to Park. Finally, it aligned the payouts
associated with Park&#146;s annual incentive plan and its performance. High bonuses were funded and
paid for comparatively high levels of performance, with lower ones funded at lower results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In determining Park&#146;s results for annual incentives, Park previously used, and will continue
to use, a performance peer group that includes all bank holding companies with assets between $3
billion and $10&nbsp;billion. This group is broader than the group of bank holding companies used to
evaluate compensation as it captures all of Park&#146;s competitors for capital and investors. The
range of assets also is reasonable relative to Park&#146;s asset size as Park falls roughly in the
middle of the range.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The historical formula used to fund the annual incentive pool was straightforward.
Traditionally, Park has set aside 15% to 20% of earnings in excess of the earnings required to
produce performance consistent with the peer group&#146;s median ROE for the incentive pool. As a
result, the greater the difference between Park&#146;s ROE and the median ROE of the performance peer
group, the larger the annual incentive pool. Park strengthens the compensation and performance
linkages of its annual incentive plan by not funding any annual incentives if Park&#146;s ROE falls
below the median of the performance peer group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Once funded, the annual incentive is distributed to participants. In the past, named
executive officers received amounts generally reflective of market compensation for officers of
similarly-sized bank holding companies with similar duties. For other officers, the pool was
divided between Park&#146;s Ohio-based banking divisions and other departments based on evaluations of
the Chief Executive Officer and the President of the respective officers&#146; contributions to Park&#146;s
short-term and long-term performance. Included in this assessment are a number of factors: growth
in assets, deposits and income; loan quality; ROA; and similar financial measures. An assessment
of the officer&#146;s individual performance determines his or her final annual incentive award.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Annual Bonuses for 2009</U>. Park&#146;s ROE performance for the twelve-month period ended
September&nbsp;30, 2009 was 11.67%. In comparison, the median ROE over the same period for the annual
incentive plan peer group was 3.18%. If Park&#146;s management had applied the same process as had been
applied historically for determining the annual incentive pool, the pool for the twelve-month
period ended September&nbsp;30, 2009 would have exceeded $10&nbsp;million. However, Park&#146;s Chief Executive
Officer recommended to the Compensation Committee that the annual incentive pool for the
twelve-month period ended September&nbsp;30, 2009 be capped at $6.0&nbsp;million. The Compensation Committee
accepted this recommendation as Park&#146;s named executive officers were not eligible to receive annual
incentive compensation for 2009 and Park is transitioning to a new methodology for the incentive
compensation plan for 2010. Please see the explanation of the changes in the incentive
compensation plan under the heading &#147;<U>Incentive Compensation Plan for 2010</U>&#148; below. The $6.0
million annual incentive pool for the twelve-month period ended September&nbsp;30, 2009 compares to a
pool of $9.4&nbsp;million for the twelve-month period ended September&nbsp;30, 2008, $9.0&nbsp;million for the
twelve-month period ended September&nbsp;30, 2007, $9.8&nbsp;million for the twelve-month period ended
September&nbsp;30, 2006 and $11.2&nbsp;million for each of the twelve-month periods ended September&nbsp;30, 2005
and September&nbsp;30, 2004. These funds were distributed to Park&#146;s officers based on the assessment
conducted by the Chief Executive Officer and the President of the performance of the officers&#146;
respective banking division or department and their individual
performances. Because of the executive pay limits associated with the ARRA, Park&#146;s named
executive officers were not eligible to receive annual incentives for 2009 and did not participate
in the plan.
</DIV>
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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Incentive Compensation Plan for 2010</U>. The new methodology that Park will employ
beginning in 2010 to determine incentive compensation for its officers will continue to strive to
provide Park&#146;s officers total compensation reflecting Park&#146;s performance compared to its peers.
The structure of the incentive compensation plan for 2010 also reflects Park&#146;s desire to create a
program that increases transparency and enables the participants in the program to clearly
understand how their incentive compensation is determined. Officers will continue to receive a
base salary consistent with their duties, responsibilities, performance and experience.
Additionally, officers will be eligible to receive a fixed percentage of their salary as incentive
compensation, with higher percentages available as officers assume more duties and
responsibilities. Incentive compensation eligibility will be determined based on Park&#146;s ROE
compared to its performance peer group, with the goal being to ensure that officers&#146; total
compensation is proportional to Park&#146;s performance compared to its peers (e.g., if Park performs in
the 85<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> percentile of the performance peer group, total compensation will also be
approximate to the 85<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> percentile). Finally, Park&#146;s officers will be eligible for
incentive compensation only if Park&#146;s net income, after accruing for incentive compensation,
exceeds annual dividends declared and paid on common shares and Series&nbsp;A Preferred Shares by 10% or
more.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Stock Options</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Overview</U>. Park&#146;s 2005 Incentive Stock Option Plan (the &#147;2005 Plan&#148;) provides Park with
the ability to award incentive stock options (&#147;ISOs&#148;) to key employees. The 2005 Plan does not
authorize Park to award other forms of equity-based compensation (e.g., restricted stock,
performance shares and nonqualified stock options).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">ISOs &#151; collectively and individually &#151; support Park&#146;s compensation objectives:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ISOs align executives&#146; interests with those of shareholders because ISOs only
produce rewards to executives if the price of Park&#146;s common shares increases after ISOs
are granted.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition, ISOs help build ownership of common shares among Park&#146;s executives,
strengthening the alignment between their interests and shareholder interests.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ISOs also hold executives accountable for producing the long-term results that
create value for shareholders.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Finally, ISOs help balance the short-term focus of Park&#146;s annual cash incentive
plan.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As a result, changes in the value of an executive&#146;s ISOs are exclusively the result of changes
in the price of Park&#146;s common shares and the value of our shareholders&#146; investment. To strengthen
this alignment, Park does not reprice ISOs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Timing of ISO Awards</U>. Park has not awarded ISOs to its named executive officers since
2005. Prior to 2005, ISOs were normally granted in May or June. Approval of those grants normally
occurred at Compensation Committee meetings scheduled in advance. In addition, Park tried to make
grants during periods when executives were able to trade in Park&#146;s common shares. As such, Park
has not attempted to time the grants of ISOs to the release of material non-public information.
Moreover, Park does not plan to adopt such a practice if it grants ISOs in the future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Terms of ISO Awards</U>. When it awarded ISOs, Park did not take into consideration the
competitive practices of other bank holding companies in establishing the value or number of ISOs
granted to executives. Park also does not have a policy regarding the portion of an
executive&#146;s compensation to be delivered in ISOs or how it allocates pay between short-term and
long-term compensation or between cash and stock compensation.
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As Park awarded ISOs that were fully vested at the grant date, awards were limited to $100,000
in value in order to satisfy the conditions required to qualify the awards as ISOs. The named
executive officers generally received ISO awards that approximated $100,000 at the time of grant.
Grants to other key employees would vary based on each individual&#146;s position in the Park
organization, the asset size of their banking division or department, that banking division or
department&#146;s contributions to Park&#146;s profitability and a subjective assessment of each key
employee&#146;s individual performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Historically, key employees, including the named executive officers, received grants with the
following characteristics:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Grants were in the form of ISOs, which enable key employees to be taxed at capital
gains rates (as opposed to personal income tax rates), provided they hold on to the
acquired common shares for certain regulatorily-specified periods. The difference in
tax treatment provides key employees a benefit that enhances the potential value of the
award.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exercise price of ISOs is equal to Park&#146;s closing price as reported on the NYSE Amex
on the grant date so that no one receives ISOs that are &#147;in the money&#148; at the time of
grant.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Term of ISOs expires five years after the date of grant to reward for long-term
stock price appreciation, which helps manage potential common share usage and dilution
of shareholders&#146; interests. Moreover, the shorter term offsets Park&#146;s potential lost
tax deduction associated with granting ISOs.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ISOs are vested immediately at the time of grant, which Park also sees as reasonable
because of the relatively short period of time executives have to exercise the ISOs and
the five-year holding period applicable to the common shares acquired upon exercise of
the ISOs.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>ISO Awards for 2009</U>. As mentioned, Park has not granted ISOs to the named executive
officers since 2005. In 2007, Park granted ISOs covering an aggregate of 90,000 common shares to
Park&#146;s officers. Also, in 2007, Park&#146;s Chief Executive Officer recommended against making awards
to the named executive officers as a result of the poor performance of Vision Bank, to which the
Compensation Committee agreed. In 2008 and 2009, no ISOs were granted to any of Park&#146;s officers,
including the named executive officers, due to the continued poor performance of Vision Bank.
Additionally, the ARRA and the Interim Final Rule prohibit Park from granting ISOs to our named
executive officers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Benefits and Perquisites</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Retirement Benefits</U>. Park also maintains qualified and non-qualified retirement
programs for its officers. These programs recognize contributions made by individuals over their
respective careers and benefits are paid at retirement. As a result, they can serve as a powerful
tool in retaining officers and other employees.
</DIV>

<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

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<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s officers, including its named executive officers, participate in Park&#146;s qualified
Defined Benefit Pension Plan (the &#147;Park Pension Plan&#148;) and the Park KSOP on the same terms as all
other employees. Under the Park Pension Plan, eligible employees earn a benefit based on their
years of service and compensation. At retirement, the pension benefit can be taken in a lump-sum
payment or in monthly annuity payments. The Park KSOP enables eligible employees to defer portions
of their cash compensation (&#147;elective deferral contributions&#148;) and receive matching contributions
from Park.
Historically, the &#147;company match&#148; for all employees was 50% on the first 12% contributed by an
employee as elective deferral contributions, up to annual limits imposed under the Internal Revenue
Code and U.S. Treasury regulations. However, the &#147;company match&#148; for all officers, including the
named executive officers, was suspended from July&nbsp;24, 2009 through December&nbsp;31, 2009. The &#147;company
match&#148; in 2010 for all employees will be 25% of each employee&#146;s elective deferral contributions, up
to the annual limits imposed under the Internal Revenue Code and U.S. Treasury regulations.
Elective deferral contributions are limited to 25% of total compensation, or $16,500, whichever is
less. Employees who have reached the age of 50 may also make a catch-up contribution of $5,500 in
2010. &#147;Catch-up&#148; contributions are not eligible for a &#147;company match.&#148; All employee elective
deferral contributions, &#147;company match&#148; contributions and &#147;catch-up&#148; contributions to the Park KSOP
are used to purchase Park common shares. Participants in the Park KSOP have the opportunity to
diversify their investments four times per year into other investments, including mutual funds and
a &#147;bank savings account&#148; held at Park National Bank. Employee accounts under the Park KSOP are
generally distributed after individuals cease employment, although employees can receive their
benefits if they are employees and are at least 59<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT> or have a financial hardship.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park also has supplemental executive retirement plan (&#147;SERP&#148;) arrangements in place for its
named executive officers and certain other executives. These plans are nonqualified programs that
provide executives with retirement benefits in addition to those offered under the Park Pension
Plan and the Park KSOP to other employees. Park believes these plans are important for its named
executive officers and select executives because they:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide retirement benefits as a percent of compensation comparable to that of other
employees who are not constrained by regulatory limits.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Replace lost retirement income due to regulatory limits.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Offer competitive benefits to newly-appointed senior executives.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Enhance the retention and recruitment of high-quality executives.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The named executive officers receive additional benefits under the SERP arrangements generally
to the degree their projected benefits from the Park Pension Plan and Park&#146;s contributions under
the Park KSOP and Social Security benefits are less than 40% of their projected annual compensation
(salary and bonus) at age 62.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park or one of its subsidiaries purchased split dollar life insurance policies in order to
fund the obligations under the SERP arrangements. Generally, these policies provide a benefit
equal to the benefit a SERP participant would have been paid if the SERP participant had not died
before age 84. Thus, the policies provide no additional benefit to the executives but help Park
and its subsidiaries meet their commitments to them.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Executives with SERP arrangements forfeit their benefits if they terminate their employment
with Park prior to age 62, strengthening the retention aspects of this program. However, an
individual can receive a partial benefit if his or her termination is related to a substantial
disability or a full benefit if there is a change in control of Park.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The SERP arrangements have demanding repayment and forfeiture provisions associated with them.
Park can recoup SERP benefits that have already been paid if Park determines there was cause to
terminate a SERP participant prior to the SERP participant receiving benefits. Moreover, a SERP
participant would forfeit the right to future benefits in such a situation. In addition, SERP
participants forfeit their rights to future benefits if they violate certain non-competition,
non-solicitation of customers
and non-solicitation of employees covenants during a period of 12&nbsp;months following their
separation from service with Park and its subsidiaries. As a result, while the SERP arrangements
provide executives with additional retirement benefits, they also offer important protections to
Park, which the Compensation Committee sees as reasonable.
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As discussed above, the ARRA and the Interim Final Rule prohibit Park from making any golden
parachute payments to Park&#146;s Senior Executive Officers. For purposes of the ARRA and the Interim
Final Rule, SERP payments to Messrs.&nbsp;DeLawder, Trautman and Kozak would be considered payments for
services performed or benefits accrued and not golden parachute payments. Under the ARRA and the
Interim Final Rule, a payment is considered to be for services performed or benefits accrued, which
includes payments from a benefit plan or deferred compensation plan, if: (i)&nbsp;the plan was in effect
for at least one year prior to the employee&#146;s departure; (ii)&nbsp;payment is made pursuant to the plan
as in effect no later than one year before the departure and in accordance with any amendments
during this one-year period that do not increase the benefits payable; (iii)&nbsp;the employee had a
vested right to payment at the time of the departure or the change in control; (iv)&nbsp;benefits were
accrued each period only for current or prior services rendered; (v)&nbsp;payment was not based on any
discretionary acceleration of vesting or accrual of benefits occurring later than one year before
the departure or the change in control event; and (vi)&nbsp;Park has recognized a compensation expense
and accrued a liability for benefit payments according to United States generally accepted
accounting principles or segregated or otherwise set aside assets in a trust for payment of
benefits. In this case, any payments made under the SERP in 2009 would have satisfied these
requirements and, accordingly, would not be subject to the prohibition on golden parachute
payments. Park and each of Messrs.&nbsp;DeLawder, Trautman and Kozak entered into a letter agreement in
which the named executive officer agreed to amend the compensation and benefit plans of Park in
which the named executive officer participates, including the SERP, to the extent necessary to give
effect to the prohibition on golden parachute payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The value of the nonqualified SERP arrangements is quantified each year. To date, the value
of these arrangements has not had an impact on the decisions regarding an officer&#146;s base salary,
annual incentive award or stock option grants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Split-Dollar Insurance Policies Maintained by Park National Bank</U>. Park National Bank
maintains split-dollar life insurance policies on behalf of Messrs.&nbsp;DeLawder, Trautman and Kozak,
in their respective capacities as executive officers. Park National Bank will receive proceeds
under each policy in an amount equal to the premiums paid up to the date of death plus earnings
accrued in respect of the policy since the inception of the policy. Each of Messrs.&nbsp;DeLawder,
Trautman and Kozak has the right to designate the beneficiary to whom his share of the proceeds
under the policy (approximately two times his highest annual total compensation during his
employment with Park National Bank) is to be paid. Each policy remains in effect following the
covered individual&#146;s retirement as long as the covered individual is fully vested in the Park
Pension Plan, has reached age 62, has not been employed by another financial services firm and was
not terminated for cause. If Mr.&nbsp;DeLawder&#146;s share of the proceeds under his policy were computed as
of December&nbsp;31, 2009, his share would have been $1,911,980. If Mr.&nbsp;Trautman&#146;s share of the proceeds
under his policy were computed as of December&nbsp;31, 2009, his share would have been $1,270,880. If
Mr.&nbsp;Kozak&#146;s share of the proceeds under his policy were computed as of December&nbsp;31, 2009, his share
would have been $857,820.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Change in Control/Severance Benefits</U>. Park does not have agreements with its named
executive officers that provide them with special benefits in the event of Park&#146;s change in
control, which is different from the majority of the peer bank holding companies included in the
Towers Perrin 2008 study. Park also does not have a formal severance policy or provide severance
when an executive is terminated without cause.
</DIV>
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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Other Benefits</U>. Park provides its officers with medical, dental, long-term disability
and life insurance benefits under the same programs used to provide benefits to all other
employees. Officers&#146; benefits are not tied to individual performance or the performance of Park,
which is the same approach as used for other employees. Moreover, changes to our executives&#146;
benefits reflect the changes made to the benefits of other employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><U>Perquisites</U>. Generally, Park does not provide perquisites to its named executive
officers. The only perquisite received by the Chief Executive Officer and the President is an
automobile allowance of $745 per month, which has been unchanged since 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On September&nbsp;4, 2009, Park and each of its subsidiaries adopted an &#147;Excessive or Luxury
Expenditure Policy&#148; in order to comply with the requirements of the ARRA and the Interim Final
Rule. This policy prohibits excessive expenditures for renovations, entertainment, conferences and
travel, obligates the Chief Financial Officer to monitor compliance and requires that violations be
reported to the President or the Chief Executive Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee and management periodically review Park&#146;s practices in this area
and make any necessary adjustments based on competitive practices, subject to the aforementioned
policy, Park&#146;s total compensation philosophy and objectives and the cost to provide the personal
benefits.
</DIV>

<DIV align="left">
<A name="151"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Other Policies</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Clawbacks</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park has adopted several policies to recover compensation or benefits in certain events. Park
can recoup the value of SERP payments received by an executive if Park determines the executive
could have been terminated for cause prior to receiving benefits. In addition, Park can recover
any common shares associated with an option exercise occurring six months before or five years
after the executive&#146;s termination in the event the executive engages in certain prohibited conduct
(e.g., works for a competitor, engages in an activity that causes substantial harm, solicits
employees, discloses proprietary or confidential information, or engages in conduct that would have
given rise to termination if it had been discovered prior to the executive&#146;s termination). These
policies provide Park with additional protections and help mitigate the potential of executives
taking unwarranted risks.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Influence of Accounting and Tax Requirements</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park does not have a policy that requires all compensation payable in respect of the 2009
fiscal year to be tax deductible. Prior to Park&#146;s entering into the Securities Purchase Agreement
with the U.S. Treasury, the deductibility limitation would have applied to any compensation for
Park&#146;s named executive officers that exceeded $1,000,000 and was not &#147;performance-based
compensation&#148; as defined for purposes of Section 162(m) of the Internal Revenue Code. Pursuant to
the terms of the Securities Purchase Agreement, the deductibility limitation applies to any
compensation for Park&#146;s named executive officers that exceeds $500,000 regardless of whether such
compensation is &#147;performance-based&#148; or not. In addition, ISOs do not provide Park with a tax
deduction for compensation expense. While the Compensation Committee carefully considers the net
cost and value to Park of maintaining the deductibility of all compensation, it also desires the
flexibility to reward the named executive officers and other executives in a manner that enhances
Park&#146;s ability to attract and retain individuals as well as to create value for shareholders over a
longer term. Thus, income tax deductibility is only one of several factors the Compensation
Committee considers in making decisions regarding Park&#146;s compensation programs. Recent changes in
accounting policy (FASB ASC Topic 718) have not had any influence on the design or structure of
Park&#146;s total direct compensation (base salary, annual incentive and long-term incentives).
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->42<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Stock Ownership Guidelines</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park has no stock ownership guidelines or holding requirements for its officers. Directors
are required to be shareholders. Park&#146;s officers have a significant amount of their individual
wealth already invested in Park common shares and most of Park&#146;s long-standing directors are in a
similar position.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Hedging</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s Insider Trading Policy prohibits the hedging of the economic risk associated with
ownership of Park&#146;s common shares.
</DIV>
<DIV align="left">
<A name="152"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>2010 Pay Decisions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s decisions regarding the named executive officers&#146; compensation for 2010 was influenced
by the following limitations. First, Park could not offer annual incentives or ISOs due to the
executive compensation restrictions associated with participation in the Capital Purchase Program
under the ARRA and the Interim Final Rule. Second, Park&#146;s 2005 Plan does not authorize the award
of restricted stock or vested common shares that could be used to deliver part of a named executive
officer&#146;s salary (&#147;salary stock&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As a result, the Compensation Committee focused on adjusting the named executive officers&#146;
cash base salaries for 2010 and considered several factors in adjusting them:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Approaches taken by other bank holding companies in response to the compensation
restrictions imposed by the ARRA and the Interim Final Rule.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Competitive compensation levels (overall and by element) for bank holding companies
used in the Towers Perrin study in 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Park&#146;s ROE performance for the twelve months ended September&nbsp;30, 2009 relative to
the median ROE of the peer bank holding companies used in the annual incentive plan.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Park&#146;s inability to award &#147;salary stock&#148; or restricted stock.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Cash compensation (base salary and annual incentives) earned by Park&#146;s named
executive officers in the last three years.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Recommendations of Towers Perrin and the Chief Executive Officer.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Based on the recommendations of Towers Perrin and management, the Compensation Committee
agreed to increase the cash base salary of the Chief Executive Officer from $473,525 to $773,525;
that of the President from $313,250 to $563,250; and that of the Chief Financial Officer from
$214,455 to $414,455. While significant increases, these base salaries equal the cash compensation
(base salary and annual incentives) each of the three named executive officers received in 2007 and
2008. The Compensation Committee believed these increases were reasonable based on the improvement
in ROE in 2009, practices of other bank holding companies in response to the limitations imposed by
the ARRA and the Interim Final Rule, median pay for officers of performance peer group bank holding
companies and consistency with the pay changes of Park&#146;s other executives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">It is the understanding of the Compensation Committee and the named executive officers that
cash base salaries will return to levels more comparable to historic levels once the outstanding
obligations to the U.S. Treasury are repaid and Park is no longer bound by the limitations of the
ARRA.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->43<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="153"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Compensation Committee Report</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee of Park&#146;s Board of Directors has reviewed and discussed the
Compensation Discussion and Analysis required by Item 402(b) of SEC Regulation&nbsp;S-K with management
and, based on such review and discussions, the Compensation Committee recommended to the Board of
Directors that the Compensation Discussion and Analysis be included in this proxy statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Compensation Committee of Park&#146;s Board of Directors certifies that it has:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Reviewed with Park&#146;s senior risk officer the SEO Compensation Plans, each as defined in
the regulations and guidance established under Section&nbsp;111 of EESA, and has made all
reasonable efforts to ensure that these plans do not encourage Senior Executive Officers,
as defined in the regulations and guidance established under Section&nbsp;111 of EESA, to take
unnecessary and excessive risks that threaten the value of Park.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Reviewed with Park&#146;s senior risk officer the Employee Compensation Plans, as defined in
the regulations and guidance established under Section&nbsp;111 of EESA, and has made all
reasonable efforts to limit any unnecessary risks these plans pose to Park.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Reviewed the Employee Compensation Plans to eliminate any features of these plans that
would encourage the manipulation of reported earnings of Park to enhance the compensation
of any employee.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On February&nbsp;12, 2010, the Compensation Committee met, along with Park&#146;s senior risk officer,
and conducted the discussion, evaluation and review of Park&#146;s SEO Compensation Plans and Employee
Compensation Plans required by the ARRA and the Interim Final Rule. As a result of this
discussion, evaluation and review, the Compensation Committee concluded that the existing structure
and operation of the SEO Compensation Plans and the Employee Compensation Plans did not require
that any changes be made to these plans in order to comply with the requirements of the ARRA and
the Interim Final Rule.
</DIV>
<DIV align="left">
<A name="154"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Risk Analysis</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee reviewed each SEO Compensation Plan to determine whether the plan
contained incentives for Senior Executive Officers or other employees to take unnecessary or
excessive risks that threaten the value of Park. The Compensation Committee also reviewed each
Employee Compensation Plan using this standard, which is more stringent than required by the ARRA
or the Interim Final Rule.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The specific SEO Compensation Plans and Employee Compensation Plans reviewed by the
Compensation Committee were: (i)&nbsp;the annual incentive plan, which provides for annual incentive
compensation based on Park&#146;s comparative ROE to a peer group; (ii)&nbsp;the 2005 Plan, pursuant to which
Park may grant ISOs; (iii)&nbsp;miscellaneous incentive plans, which are informal arrangements that
allow Park employees to earn small amounts of incentive compensation; (iv)&nbsp;the SERP Agreements,
pursuant to which Senior Executive Officers and other executives may receive supplemental pension
benefits; (v)&nbsp;the split-dollar life insurance policies, which provide Senior Executive Officers and
other executives with death benefits; (vi)&nbsp;a deferred compensation plan, which allows employees of
the Security National Division to voluntarily defer a portion of their compensation; (vii)&nbsp;certain
&#147;Salary Continuation Plans,&#148; &#147;Employment Agreements&#148; and &#147;Change in Control Agreements&#148; entered
into with employees of Vision Bank, all of which provide for severance-type benefits.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->44<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee concluded that: (i)&nbsp;the annual incentive plan does not create
incentives for Senior Executive Officers or other employees to take unnecessary and excessive risks
because the amount of any payments is both discretionary and based on comparative performance,
factors over which employees have little control; (ii)&nbsp;the 2005 Plan does not create incentives for
Senior Executive Officers or other employees to take unnecessary and excessive risks because ISOs
are intended to create a link to long-term value creation and the common shares of Park acquired
upon exercise of an ISO are generally required to be held for five years; (iii)&nbsp;the miscellaneous
incentive plans do not create incentives for Senior Executive Officers or other employees to take
unnecessary and excessive risks because the amounts payable under these informal arrangements are
not a material element of compensation; and (iv)&nbsp;none of the other plans create incentives for
Senior Executive Officers or other employees to take unnecessary and excessive risks because the
amounts payable under these plans are not contingent on Park&#146;s financial or other performance.
</DIV>
<DIV align="left">
<A name="155"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Earnings Analysis</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee reviewed each Employee Compensation Plan to determine whether the
Employee Compensation Plan includes features that would encourage the manipulation of Park&#146;s
reported earnings to enhance the compensation of any employee. The Compensation Committee limited
its review to Park&#146;s annual incentive plan and miscellaneous incentive plans, which are the only
Employee Compensation Plans under which the amount payable is based, directly or indirectly, on
Park&#146;s reported earnings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Compensation Committee concluded that: (i)&nbsp;the annual incentive plan does not contain
features that would encourage the manipulation of Park&#146;s reported earnings to enhance the
compensation of any employees because the amount of any payments is discretionary and based on
comparative performance, factors over which employees have little control; and (ii)&nbsp;the
miscellaneous incentive plans do not contain features that would encourage the manipulation of
Park&#146;s reported earnings to enhance the compensation of any employees because the amounts payable
under these informal arrangements are not a material element of compensation.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Submitted by the members of the Compensation Committee:</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>F. William Englefield (Chair)</I></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>John J. O&#146;Neill</I></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Leon Zazworsky</I></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left">
<A name="156"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Summary Compensation Table</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table summarizes the total compensation awarded or paid to, or earned by, each
of the named executive officers of Park for each of the 2009 fiscal year, the 2008 fiscal year and
the 2007 fiscal year. Dollar amounts have been rounded up to the nearest whole dollar. Park has
not entered into an employment agreement with any of its executive officers. No option awards or
stock awards were made to the named executive officers for the 2009 fiscal year, the 2008 fiscal
year or the 2007 fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In the 2009 fiscal year, the base salary was approximately 68%, 78% and 80% of the total
compensation for Mr.&nbsp;DeLawder, Mr.&nbsp;Trautman and Mr.&nbsp;Kozak, respectively. Under the provisions of
the ARRA and the Interim Final Rule, Park was prohibited from paying or accruing any bonus,
retention award or incentive compensation to Messrs.&nbsp;DeLawder, Trautman and Kozak in respect of the
2009 fiscal year.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->45<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In the 2008 fiscal year, the base salary was approximately 46%, 47% and 43% of the total
compensation for Mr.&nbsp;DeLawder, Mr.&nbsp;Trautman and Mr.&nbsp;Kozak, respectively, and the bonus (under
Park&#146;s incentive compensation plan) was approximately 29%, 38% and 40% of the total compensation
for Mr.&nbsp;DeLawder, Mr.&nbsp;Trautman and Mr.&nbsp;Kozak, respectively. In the 2007 fiscal year, the base
salary was approximately 50%, 54% and 48% of the total compensation for Mr.&nbsp;DeLawder, Mr.&nbsp;Trautman
and Mr.&nbsp;Kozak, respectively, and the bonus (under Park&#146;s incentive compensation plan) was
approximately 32%, 43% and 45% of the total compensation for Mr.&nbsp;DeLawder, Mr.&nbsp;Trautman and Mr.
Kozak, respectively.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Summary Compensation Table for 2009</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Change in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Pension Value</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">and</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nonqualified</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Deferred</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">All Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Salary</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Bonus</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Earnings</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name and Principal Position</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($) (1)</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)(2)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total ($)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">C. Daniel DeLawder</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">473,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">0      </TD>
    <TD nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">207,694</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">15,369</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">696,588</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chairman of the Board and</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">473,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">300,000</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">238,593</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">20,776</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,032,884</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Executive Officer of</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">473,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">148,956</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">21,569</TD>
    <TD nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">944,050</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Park and Park National Bank</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David L. Trautman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">313,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">0      </TD>
    <TD nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">77,372</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">11,009</TD>
    <TD nowrap>(7)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">401,631</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President and Secretary of</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">313,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">250,000</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">85,612</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">17,506</TD>
    <TD nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Park and President of Park</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">313,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,596</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">9,572</TD>
    <TD nowrap>(9)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">584,418</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">National Bank</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John W. Kozak</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">214,455</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">0      </TD>
    <TD nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">45,957</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">6,902</TD>
    <TD nowrap>(10)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">267,314</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Financial Officer of</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">214,455</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">200,000</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">75,834</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">6,904</TD>
    <TD nowrap>(11)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">497,193</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Park and Senior Vice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">214,455</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,308</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">8,241</TD>
    <TD nowrap>(12)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">446,004</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">President and Chief
Financial Officer of Park
National Bank</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>The amounts shown for the 2008 fiscal year and the 2007 fiscal year reflect the amounts
earned in respect of performance for the twelve-month periods ended September&nbsp;30, 2008 and 2007,
respectively, under Park&#146;s incentive compensation plan.</TD>
</TR>
<TR style="font-size: 3pt">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>The amounts shown reflect the aggregate change in the actuarial present value of the named
executive officer&#146;s accumulated benefits under the Park Pension Plan and the SERP (and each
individual&#146;s SERP Agreement as in effect during the applicable fiscal year), determined using
interest rate and mortality rate assumptions consistent with those used in Park&#146;s consolidated
financial statements. Mr.&nbsp;Trautman did not participate in the SERP in the 2007 fiscal year. The
benefits to be provided under the Park Pension Plan and the SERP (and the related SERP Agreements)
are more fully described under the headings <I>&#147;</I><B>Post-Employment Payments and Benefits </B><B><I>&#151; Pension and
Supplemental Benefits </I></B><I>&#151; Park Pension Plan&#148; </I>beginning on page 51 and <I>&#147;</I><B>Compensation Discussion and
Analysis </B><B><I>&#151; Elements of the Compensation Program </I></B><I>&#151; Benefits and Perquisites&#148; </I>beginning on page 39.</TD>
</TR>
</TABLE>



<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->46<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>On January&nbsp;23, 2009, the Compensation Committee determined that the amounts earned by
Messrs.&nbsp;DeLawder, Trautman and Kozak under Park&#146;s incentive compensation plan in respect of
performance for the twelve-month period ended September&nbsp;30, 2008, should remain the same as
for the twelve-month period ended September&nbsp;30, 2007. Under the terms of the ARRA prohibiting,
except in limited circumstances, the payment or accrual of any bonus, retention award or incentive
compensation with respect to Park&#146;s five most highly-compensated employees (the &#147;Incentive
Compensation Payment Prohibition&#148;), it was unclear whether Park would be permitted to pay the
incentive compensation awards to Messrs.&nbsp;DeLawder, Trautman and Kozak for the twelve-month period
ended September&nbsp;30, 2008. The Interim Final Rule clarified the &#147;valid employment contract&#148;
exception to the Incentive Compensation Payment Prohibition such that the specific circumstances
underlying the computation and determination, and subsequent payment to Messrs.&nbsp;DeLawder, Trautman
and Kozak, of the incentive compensation awards for the twelve-month period ended September&nbsp;30,
2008 fall within the scope of the &#147;valid employment contract&#148; exception. Accordingly, on July&nbsp;20,
2009, the Compensation Committee took action to authorize the payment of the incentive compensation
awards for the twelve-month period ended September&nbsp;30, 2008 to Messrs.&nbsp;DeLawder, Trautman and Kozak
as shown in this column for 2008.
</TD>
</TR>
<TR style="font-size: 3pt">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$3,518, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;DeLawder under the split-dollar life insurance policy maintained
on his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$2,911, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;DeLawder under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2009
fiscal year); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$8,940, representing the aggregate amount of the $745&nbsp;monthly automobile
allowance received by Mr.&nbsp;DeLawder during the 2009 fiscal year.</TD>
</TR>

</TABLE>
</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 3pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$3,174, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;DeLawder under the split-dollar life insurance policy maintained
on his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$5,990, representing the final contribution to the Park KSOP on Mr.
DeLawder&#146;s behalf to match his 2008 pre-tax elective deferral contributions.
Of the $7,078 matching contribution which had been reported in the Summary
Compensation Table for 2008 included in Park&#146;s proxy statement for the Annual
Meeting of Shareholders held on April&nbsp;20, 2009 (&#147;Park&#146;s 2009 Proxy Statement&#148;),
$1,088 was forfeited in 2009 in conjunction with the partial refund of Mr.
DeLawder&#146;s pre-tax elective deferral contribution as required to satisfy
compliance tests applicable to the Park KSOP;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$2,662, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;DeLawder under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2008
fiscal year); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$8,940, representing the aggregate amount of the $745&nbsp;monthly automobile
allowance received by Mr.&nbsp;DeLawder during the 2008 fiscal year.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->47<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$2,753, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;DeLawder under the split-dollar life insurance policy maintained
on his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$7,500, representing the contribution to the Park KSOP on Mr.&nbsp;DeLawder&#146;s
behalf to match his 2007 pre-tax elective deferral contributions;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$2,376, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;DeLawder under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2007
fiscal year); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$8,940, representing the aggregate amount of the $745&nbsp;monthly automobile
allowance received by Mr.&nbsp;DeLawder during the 2007 fiscal year.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 3pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$775, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Trautman under the split-dollar life insurance policy maintained
on his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$1,294, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Trautman under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2009
fiscal year); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$8,940 representing the aggregate amount of the $745&nbsp;monthly automobile
allowance received by Mr.&nbsp;Trautman during the 2009 fiscal year.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 3pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$712, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Trautman under the split-dollar life insurance policy maintained
on his behalf by Park National Bank; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$6,662, representing the final contribution to the Park KSOP on Mr.
Trautman&#146;s behalf to match his 2008 pre-tax elective deferral contributions.
Of the $7,750 matching contribution which had been reported in the Summary
Compensation Table for 2008 included in Park&#146;s 2009 Proxy Statement, $1,088 was
forfeited in 2009 in conjunction with the partial refund of Mr.&nbsp;Trautman&#146;s
pre-tax elective deferral contribution as required to satisfy compliance tests
applicable to the Park KSOP;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$1,192, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Trautman under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2008
fiscal year); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$8,940, representing the aggregate amount of the $745&nbsp;monthly automobile
allowance received by Mr.&nbsp;Trautman during the 2008 fiscal year.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->48<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$632, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Trautman under the split-dollar life insurance policy maintained
on his behalf by Park National Bank; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$8,940, representing the aggregate amount of the $745&nbsp;monthly automobile
allowance received by Mr.&nbsp;Trautman during the 2007 fiscal year.</TD>
</TR>

</TABLE>
</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 3pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(10)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$944, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Kozak under the split-dollar life insurance policy maintained on
his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$5,923, representing the contribution to the Park KSOP on Mr.&nbsp;Kozak&#146;s behalf
to match his 2009 pre-tax elective deferral contributions; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$35, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Kozak under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2009
fiscal year).</TD>
</TR>

</TABLE>
</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 3pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(11)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$884, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Kozak under the split-dollar life insurance policy maintained on
his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$5,990, representing the final contribution to the Park KSOP on Mr.&nbsp;Kozak&#146;s
behalf to match his 2008 pre-tax elective deferral contributions. Of the
$7,078 matching contribution which had been reported in the Summary
Compensation Table for 2008 included in Park&#146;s 2009 Proxy Statement, $1,088 was
forfeited in 2009 in conjunction with the partial refund of Mr.&nbsp;Kozak&#146;s pre-tax
elective deferral contribution as required to satisfy compliance tests
applicable to the Park KSOP; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$30, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Kozak under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2008
fiscal year).</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 3pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(12)</TD>
    <TD>&nbsp;</TD>
    <TD>The amount shown reflects:</TD>
</TR>
</TABLE>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$715, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Kozak under the split-dollar life insurance policy maintained on
his behalf by Park National Bank;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$7,500, representing the contribution to the Park KSOP on Mr.&nbsp;Kozak&#146;s behalf
to match his 2007 pre-tax elective deferral contributions; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$26, representing the amount of the premium deemed to have been paid on
behalf of Mr.&nbsp;Kozak under the split-dollar life insurance policy which funds
his account under the SERP (and his SERP Agreement as in effect during the 2007
fiscal year).</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->49<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">


<DIV align="left">
<A name="157"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Grants of Plan-Based Awards</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As discussed under the heading &#147;<B>Compensation Discussion and Analysis </B><B><I>&#151; Elements of the
Compensation Program &#151; </I></B><I>Stock Options</I>&#148; beginning on page 38, no ISOs were granted to any of the
named executive officers during the 2009 fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park does not maintain any non-equity incentive plans or equity incentive plans as those terms
are defined under Item&nbsp;402(a)(6) of SEC Regulation&nbsp;S-K.
</DIV>
<DIV align="left">
<A name="158"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Outstanding ISOs at Fiscal Year-End</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table sets forth the number of unexercised ISOs held by each of the named
executive officers at the end of the 2009 fiscal year. Park has never granted any other form of
equity-based award to the named executive officers.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Outstanding Equity Awards At Fiscal Year-End for 2009</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="14" style="border-bottom: 1px solid #000000">Option Awards</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Securities</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Underlying</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of Securities</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Unexercised Options</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Underlying</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Option</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">(#)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Unexercised Options</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercise</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Option</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercisable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">(#)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Expiration</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Unexercisable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Date</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">C. Daniel DeLawder</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">107.85</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">06/21/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David L. Trautman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">107.85</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">06/21/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John W. Kozak</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">107.85</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">06/21/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>All of the reported ISOs were fully vested and exercisable at the end of the 2009 fiscal
year.</TD>
</TR>

</TABLE>



<DIV align="left">
<A name="159"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Exercises of ISOs</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">None of the named executive officers exercised any ISOs during the 2009 fiscal year. Park has
never granted any other form of equity-based award to the named executive officers.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->50<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="160"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Post-Employment Payments and Benefits</B>
</DIV>

<DIV align="left">
<A name="161"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Pension and Supplemental Benefits</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Park Pension Plan</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Park Pension Plan covers employees of Park&#146;s subsidiaries who have attained age 21 and
completed one year of service. Under the Park Pension Plan, annual benefits are paid in monthly
installments for life with 120&nbsp;months of payments guaranteed. For purposes of the Park Pension
Plan, an employee&#146;s &#147;normal retirement date&#148; is the earlier of the first day of the month
coincident with or next following the employee reaching age 70 1/2 or the employee reaching age 65
and completing five years of service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The amount of annual &#147;normal retirement benefit&#148; to be paid in monthly installments to an
eligible employee is the greater of:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>29% of the average monthly compensation of the employee reduced for expected years
of service at normal retirement less than 25; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>29% of the average monthly compensation plus 16% of the average monthly compensation
in excess of one-twelfth of covered compensation reduced for expected years of service
at normal retirement less than 35.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The average monthly compensation of an employee is calculated by averaging the highest five
consecutive calendar years of compensation as reported on the employee&#146;s Forms W-2 during the ten
calendar years preceding the date of determination. Base salary and incentive compensation,
including elective deferral contributions, are included in calculating an employee&#146;s monthly
compensation for purposes of the Park Pension Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In addition, the employees of certain of our subsidiary banks (and their respective divisions)
participated in pension plans maintained for their benefit prior to the bank&#146;s being acquired by
Park and the merger of the bank&#146;s pension plan into the Park Pension Plan. Benefits under the Park
Pension Plan cannot be less than the sum of the benefit provided under the merged pension plan and
the Park Pension Plan based on years of service since the date of merger of the two plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Applicable provisions of the Internal Revenue Code currently limit the amount of annual
compensation used to determine plan benefits under a defined benefit pension plan, such as the Park
Pension Plan, and the amount of plan benefits payable annually under such a plan. Total
compensation in excess of the limit will not be taken into account for benefit calculation
purposes. The average of the maximum annual total compensation which may be used in determining
plan benefits under qualified defined benefit plans for the past five years is $226,000. The 2009
monthly rate of total compensation used to determine benefits was limited to $20,417 per month,
which is the equivalent of an annual total compensation of $245,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If an employee elects to retire after completing ten years of service and reaching 55&nbsp;years of
age, the employee may receive a monthly benefit for life with 120&nbsp;months of payments guaranteed
beginning at his or her normal retirement date equal to the &#147;accrued benefit&#148; at the early
retirement date. Payments to the employee may begin immediately, with the benefit being reduced
one fifteenth (1/15th) for the first five years and one thirtieth (1/30th) for the next five years.
For purposes of the Park Pension Plan, the &#147;accrued benefit&#148; at any time prior to an employee&#146;s
normal retirement date is the normal retirement benefit as described above multiplied by a
fraction, the numerator of which is the employee&#146;s total years of service as of the date of
determination and the denominator of which is the employee&#146;s expected years of service at normal
retirement.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->51<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">An employee may continue employment with Park and/or one of our subsidiaries after his or her
normal retirement date. In such an event, the employee will receive the benefit he or she would
have received on his or her normal retirement date actuarially increased to reflect delayed
payment. Notwithstanding the foregoing, the benefit received by such an employee will not be less
than the benefit accrued at delayed retirement reflecting service and compensation to such date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Upon the termination of employment after five or more years, an employee has a vested interest
in his or her accrued benefit which will be payable on the normal retirement date. An employee
will have no vested interest if he or she terminates employment after less than five years of
service with Park and/or one of our subsidiaries. An employee who terminates employment with ten
or more years of service with Park and/or one of our subsidiaries may elect to receive his or her
vested interest as early as age 55.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If an employee becomes totally and permanently disabled prior to his or her normal retirement
date and retires after being determined to be disabled by the Compensation Committee for at least
six months, he or she will receive a disability retirement benefit equal to his or her &#147;accrued
benefit&#148; at disability reduced actuarially for payment preceding normal retirement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In the event of a married employee&#146;s death after the completion of five years of service, but
prior to meeting the eligibility requirements for early retirement, the participant will be assumed
to have terminated employment the day before his or her death, survived to his or her early
retirement date, elected a joint and one-half survivor benefit, and passed away the following day.
If an unmarried employee dies prior to the early retirement age, the survivor annuity will be 50%
of the 10-year certain and life annuity payable to such employee if such employee had terminated
employment one day prior to his or her death.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In the event of a married employee&#146;s death after meeting the requirements for early
retirement, his or her surviving spouse will receive one-half of the joint and one-half survivor
benefit calculated on the day before his or her death. If an unmarried employee or unmarried
&#147;inactive&#148; employee dies on or after the early retirement age, the survivor annuity will be
computed as if he or she started receiving a 10-year certain and life annuity on the day before his
or her death.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">For a vested terminated employee, death benefits are calculated the same as for active
employees, but based on the employee&#146;s accrued benefit at his or her termination date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">An eligible employee of Park and/or one of our subsidiaries may opt to receive his or her
benefits pursuant to the following methods of settlement that are actuarially equivalent to the
normal form of annuity:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a benefit to be paid during the employee&#146;s lifetime with one-half of the benefit to
be continued to the employee&#146;s spouse for his or her lifetime after the employee&#146;s
death;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a benefit to be paid during the employee&#146;s lifetime with a percentage of the benefit
or the same benefit to be continued to the employee&#146;s spouse for his or her lifetime
after the employee&#146;s death;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a benefit payable in equal installments during the employee&#146;s lifetime;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a benefit to be paid for 60, 120 or any number of months certain and thereafter for
life; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an unlimited lump-sum settlement for retirees and a lump-sum settlement under $5,000
for vested employees who have not yet retained retirement age.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->52<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">It is not possible for an employee&#146;s years of service under the Park Pension Plan to exceed
the employee&#146;s actual years of service with Park and/or our subsidiaries.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Supplemental Executive Retirement Benefits</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The supplemental executive retirement benefits to be provided to Messrs.&nbsp;DeLawder, Trautman
and Kozak are described under the heading <I>&#147;</I><B>Compensation Discussion and Analysis </B><B><I>&#151; Elements of the
Compensation Program &#151; </I></B><I>Benefits and Perquisites&#148; </I>beginning on page 39.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>Pension Benefits for 2009</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table shows the actuarial present value of each named executive officer&#146;s
accumulated benefit, including the number of years of service credited to each such named executive
officer, under each of the Park Pension Plan and the SERP (and each named executive officer&#146;s SERP
Agreement as in effect during the 2009 fiscal year), determined using interest rate and mortality
rate assumptions consistent with those used in Park&#146;s consolidated financial statements and
summarized in Note 13 of the Notes to Consolidated Financial Statements located on pages 66 and 67
of Park&#146;s 2009 Annual Report. Further information regarding the Park Pension Plan and the SERP can
be found under the headings &#147;<B>Post-Employment Payments and Benefits </B>&#151; <B><I>Pension and Supplemental
Benefits </I></B>&#151; <I>Park Pension Plan</I>&#148; beginning on
page 51 and <I>&#147;</I><B>Compensation Discussion and Analysis </B><B><I>&#151;
Elements of the Compensation Program &#151; </I></B><I>Benefits and Perquisites&#148; </I>beginning on page 39.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Pension Benefits for 2009</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Present Value</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Payments</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Years Credited</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">of Accumulated</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">During Last</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Service</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Benefit</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Fiscal Year</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Plan Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(#)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">C. Daniel DeLawder</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Park Pension Plan (1)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">39</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">655,199</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">0</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SERP</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">996,530</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">0</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David L. Trautman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Pension Plan</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">26</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">218,383</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">0</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SERP</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">94,093</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">0</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John W. Kozak</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Pension Plan</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">30</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">350,598</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">0</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SERP</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">16,085</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">0</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>




<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;DeLawder is eligible for early retirement under the Park Pension Plan. The present
value of his early retirement benefit was $666,368 at December&nbsp;31, 2009. This value increased by
$67,836 during the 2009 fiscal year.</TD>
</TR>

</TABLE>

<DIV align="left">
<A name="162"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Nonqualified Deferred Compensation</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As reported in Park&#146;s 2009 Proxy Statement, at December&nbsp;31, 2008, Park had an accrued
liability for incentive compensation that had been approved by the Compensation Committee but not
paid to certain of the officers of Park and our subsidiaries. This incentive compensation
pertained primarily to incentive compensation earned prior to 2002. The entire pool of earned but
unpaid incentive compensation, in the amount of $764,000 at the end of the 2008 fiscal year,
related to approximately 200 officers. The unpaid incentive compensation accrued no interest or
other earnings prior to the time of payment. The pool resulted from a previous method of
calculating incentive compensation. The pool was paid out on January&nbsp;9, 2009 in accordance with
the terms of the Park National Corporation Bonus Program adopted by the Compensation Committee on
December&nbsp;16, 2008.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->53<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table shows the share of the pool paid out to each of the named executive
officers on January&nbsp;9, 2009.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Nonqualified Deferred Compensation for 2009</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="66%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Withdrawals/</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Balance at Last</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Distributions</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Fiscal Year End</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">C. Daniel DeLawder</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">188,195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David L. Trautman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">35,365</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John W. Kozak</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">8,544</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left">
<A name="163"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Potential Payouts upon Termination of Employment or Change in Control</B>
</DIV>

<DIV align="left">
<A name="164"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Stock Option Plan</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The 2005 Plan contains special rules governing the time of exercise of ISOs in cases of normal
retirement (which is defined for purposes of the 2005 Plan as separation from employment with Park
and our subsidiaries on or after age 62), disability or death. In the case of normal retirement,
all of an optionee&#146;s ISOs will become fully vested and may be exercised for a period of three
months following the last day of employment, subject to the stated term of the ISOs. If an
optionee dies while employed by Park and/or one of our subsidiaries, the optionee&#146;s ISOs will
become fully vested and may be exercised for a period of 12&nbsp;months following the date of death,
subject to the stated term of the ISOs. If an optionee is terminated due to a long-term
disability, the optionee&#146;s ISOs will become fully vested and may be exercised for a period of 12
months following the last day of employment, subject to the stated term of the ISOs. If an
optionee is terminated for any reason other than normal retirement, long-term disability or death,
all ISOs held by the optionee will be forfeited.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The 2005 Plan also provides that, upon the occurrence of a defined &#147;change in control&#148; of
Park, all outstanding ISOs (whether or not then exercisable) will become fully vested and
exercisable as of the date of the change in control. Generally, a change in control is deemed to
occur if:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any person (other than Park, one of our subsidiaries or an employee benefit plan of
Park or a subsidiary) becomes the beneficial owner of, or acquires voting power with
respect to, securities which represent 50% or more of the combined voting power of
Park&#146;s outstanding securities;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->54<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the shareholders of Park approve a merger or consolidation of Park with or into another
entity, in which Park is not the continuing or surviving entity or common shares of Park
would be converted into cash, securities or other property of another entity, other than
a merger or consolidation in which holders of Park common shares immediately prior to
the merger or consolidation have the same proportionate ownership of the securities of
the surviving entity; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the shareholders of Park approve an agreement for the sale or disposition of all or
substantially all of Park&#146;s assets (or any transaction having a similar effect).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As of December&nbsp;31, 2009 and as of the date of this proxy statement, all of the ISOs held by
Messrs.&nbsp;DeLawder, Trautman and Kozak were vested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">At the time of exercise of any ISO, the optionee exercising the ISO is to enter into an
agreement with Park pursuant to which the common shares acquired upon exercise of the ISO may not
be sold, transferred or otherwise disposed of to any person other than Park or a subsidiary of Park
for a period of five years after the exercise date. This restriction does not, however, apply in
the event of the exercise of an ISO following the death, long-term disability or normal retirement
of an optionee. In addition, if an optionee who acquired common shares upon the exercise of an ISO
subsequently leaves the employment of Park and/or one of our subsidiaries by reason of death,
long-term disability or normal retirement, the restrictions cease to apply to ISOs granted under
the 2005 Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Under the 2005 Plan, an optionee will forfeit all of the optionee&#146;s outstanding ISOs, as well
as all common shares acquired through the exercise of ISOs on the date of termination of employment
or within six months before and five years after the termination of employment, if the optionee:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without the Compensation Committee&#146;s written consent, renders services to, becomes
the owner of, or serves (or agrees to serve) as an officer, director, consultant or
employee of, a business that competes with any portion of Park&#146;s (or a subsidiary of
Park&#146;s) business with which the optionee has been involved at any time within five
years before the optionee&#146;s termination of employment with Park and/or one of our
subsidiaries;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>refuses or fails to consult with, supply information to or otherwise cooperate with
Park or any subsidiary of Park after being requested to do so;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>deliberately engages in any action that the Compensation Committee concludes has
caused substantial harm to the interests of Park or any subsidiary of Park;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without the Compensation Committee&#146;s written consent, solicits or attempt to
influence or induce any employee of Park and/or one of our subsidiaries to terminate
his or her employment, or uses or discloses any information obtained while employed by
Park and/or one of our subsidiaries concerning the names and addresses of employees;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without the Compensation Committee&#146;s written consent, discloses any confidential or
proprietary information relating to the business affairs of Park and/or one of our
subsidiaries;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>fails to return all property (other than personal property) received by the optionee
during his or her employment with Park and/or one of our subsidiaries; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>engages in conduct the Compensation Committee reasonably concludes would have given
rise to termination of the optionee for cause (as defined in the 2005 Plan) if it had
been discovered before the optionee terminated his or her employment with Park and/or
one of our subsidiaries.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->55<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>
<DIV align="left">
<A name="165"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Supplemental Executive Retirement Benefits</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The provisions of the SERP arrangements addressing the impact of a change of control and the
subsequent termination of an individual covered thereby are described under the heading
<I>&#147;</I><B>Compensation Discussion and Analysis </B><B><I>&#151; Elements of the Compensation Program &#151; </I></B><I>Benefits and
Perquisites&#148; </I>beginning on page 39.
</DIV>
<DIV align="left">
<A name="166"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Other Potential Payouts</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Regardless of the manner in which a named executive officer&#146;s employment terminates, he is
entitled to receive amounts earned during his term of employment. Such amounts would include:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>incentive compensation earned but unpaid under Park&#146;s incentive compensation plan;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the balance of the executive officer&#146;s account under the Park KSOP;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>unused vacation pay; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>amounts accrued and vested under the Park Pension Plan paid in accordance with the
terms of the Park Pension Plan, as discussed in more detail beginning on page 51 under
the heading <I>&#147;</I><B>Post-Employment Payments and Benefits &#151; </B><B><I>Pension and Supplemental Benefits
&#151; </I></B><I>Park Pension Plan.&#148;</I></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If a named executive officer retires after reaching age 55, in addition to the items
identified in the preceding paragraph, the named executive officer will be entitled to receive a
lump-sum payment of the present value of the benefit to which he would have been entitled under the
Park Pension Plan, as discussed in more detail beginning on page 51 under the heading
<I>&#147;</I><B>Post-Employment Payments and Benefits &#151; </B><B><I>Pension and Supplemental Benefits &#151; </I></B><I>Park Pension Plan.&#148;</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">If a named executive officer retires after reaching age 62, in addition to the items
identified in the preceding paragraphs, the named executive officer will receive:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the supplemental executive retirement benefits discussed beginning on page 39 under
the heading <I>&#147;</I><B>Compensation Discussion and Analysis </B><B><I>&#151; Elements of the Compensation
Program &#151; </I></B><I>Benefits and Perquisites&#148;; </I>and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>continued coverage under the split-dollar life insurance policy maintained on his
behalf by Park National Bank, as discussed in more detail beginning on page 39 under
the heading <I>&#147;</I><B>Compensation Discussion and Analysis </B><B><I>&#151; Elements of the Compensation
Program &#151; </I></B><I>Benefits and Perquisites&#148;</I>.</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->56<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In the event of the death or disability of a named executive officer, in addition to the
benefits identified in the preceding paragraph(s), the named executive officer or his beneficiary,
as appropriate, will receive:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>benefits under Park&#146;s disability insurance plan; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>his share of the proceeds under the split-dollar life insurance policy maintained on
his behalf by Park National Bank, as discussed in more detail beginning on page 39
under the heading <I>&#147;</I><B>Compensation Discussion and Analysis </B><B><I>&#151; Elements of the Compensation
Program &#151; </I></B><I>Benefits and Perquisites&#148;</I>.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table summarizes payments which would have been made to the named executive
officers if a retirement or termination event had occurred on December&nbsp;31, 2009. Actual amounts to
be paid out can only be determined at the time of a named executive officer&#146;s actual separation
from service with Park.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Involuntary</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Not for</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Voluntary</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Early</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Normal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Cause</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">For Cause</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Termination</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Retirement</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Retirement</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Termination</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Termination</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Disability</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Death</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">on</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">12/31/09</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>C. Daniel DeLawder</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Park KSOP</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">777,488</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Park Pension Plan (1)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,368</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>SERP (2)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>SERP &#151; Life Insurance</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,222,314</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Split-Dollar Life Insurance</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,911,980</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Total</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,443,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,443,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,433,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,443,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,443,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,443,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,578,150</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>David L. Trautman</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Park KSOP</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">433,688</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Park Pension Plan (1)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">218,383</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>SERP (2)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>SERP &#151; Life Insurance</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,342,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Split-Dollar Life Insurance</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,270,880</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Total</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">652,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">652,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">652,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">652,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">652,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">652,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,264,951</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>John W. Kozak</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Park KSOP</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">287,117</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Park Pension Plan (1)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">350,598</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>SERP (2)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>SERP &#151; Life Insurance</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">38,161</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Split-Dollar Life Insurance</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">857,820</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Total</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">637,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">637,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">637,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">637,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">637,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">637,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,533,696</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD nowrap align="center" colspan="2" style="border-bottom: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Reflects the estimated lump-sum present value of the benefits to which the named executive
officer would be entitled under the Park Pension Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Reflects the estimated lump-sum present value of the benefits to which the named executive
officer would be entitled under his individual SERP arrangement.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->57<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<DIV align="left">
<A name="167"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>DIRECTOR COMPENSATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park uses a combination of cash and stock-based compensation to attract and retain qualified
candidates to serve on the Board of Directors. To align the interests of Park&#146;s directors and
shareholders, Park&#146;s Regulations require that all directors of Park be shareholders. Park does not
have a requirement which addresses the number of common shares that need to be retained by
directors.
</DIV>
<DIV align="left">
<A name="168"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Annual Retainers and Meeting Fees</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Each director of Park who is not an employee of Park or one of our subsidiaries (a
&#147;non-employee director&#148;) currently receives, on the date of the regular meeting of the Park Board
of Directors held during the fourth fiscal quarter, an annual retainer in the form of 120 common
shares awarded under the Park National Corporation Stock Plan for Non-Employee Directors of Park
National Corporation and Subsidiaries (the &#147;Directors&#146; Stock Plan&#148;). Each non-employee director
receives $1,000 for each meeting of the Park Board of Directors attended and $400 for each meeting
of a committee of the Park Board of Directors attended. If the date of a meeting of the full Board
of Directors is changed from that provided for by resolution of the Board and a non-employee
director is not able to attend the rescheduled meeting,
he or she receives the meeting fee as though he or she attended the meeting. In addition,
each member of the Executive Committee of the Park Board of Directors receives a $2,500 annual cash
retainer and each member of the Audit Committee of the Park Board of Directors (other than the
Chair) receives a $2,000 annual cash retainer. The Chair of the Audit Committee receives a $5,000
annual cash retainer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Each non-employee director of Park also serves on the board of directors of either Park
National Bank or one of its divisions, and receives, on the date of the regular meeting of the Park
Board of Directors held during the fourth fiscal quarter, an annual retainer in the form of 60
common shares of Park awarded under the Directors&#146; Stock Plan and, in some cases, a specified
amount of cash for such service as well as fees for attendance at meetings of the board of
directors of Park National Bank or the applicable division of Park National Bank (and committees of
the respective boards).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In addition to the annual retainers and meeting fees discussed above, non-employee directors
also receive reimbursement of all reasonable travel and other expenses of attending board and
committee meetings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">C.&nbsp;Daniel DeLawder, William T. McConnell, William A. Phillips and David L. Trautman receive no
compensation for: (i)&nbsp;serving as a member of the Board of Directors of Park; (ii)&nbsp;serving as a
member of the board of directors of any subsidiary of Park; (iii)&nbsp;serving as a member of the board
of directors of a division of any subsidiary of Park; or (iv)&nbsp;serving as a member of any committee
of the respective boards. In addition, since July&nbsp;1, 2009, Harry O. Egger has received no meeting
fees or cash retainers in connection with his service as a member of the Board of Directors of
Park, his service as a member of the Board of Directors of the Security National Division or his
service as a member of any committee of the respective boards.
</DIV>
<DIV align="left">
<A name="169"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Split-Dollar Life Insurance Policies</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Effective as of December&nbsp;28, 2007, Maureen Buchwald, James J. Cullers, F. William Englefield
IV, John J. O&#146;Neill, J. Gilbert Reese, Rick R. Taylor and Leon Zazworsky entered into split-dollar
agreements (the &#147;New Split-Dollar Agreements&#148;) which amended and restated the split-dollar
agreements to which they had been parties. The New Split-Dollar Agreements are intended to comply
with the requirements of Section&nbsp;409A of the Internal Revenue Code.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->58<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Under the terms of each New Split-Dollar Agreement, Park National Bank owns the life insurance
policy to which the New Split-Dollar Agreement relates. Each individual party to a New Split-Dollar
Agreement has the right to designate the beneficiary(ies) to whom a portion of the death proceeds
of the policy are to be paid in accordance with the terms of the New Split-Dollar Agreement. Upon
the death of the individual, his or her beneficiary(ies) will be entitled to an amount equal to the
lesser of (i) $100,000 or (ii)&nbsp;100% of the difference between the total death proceeds under the
policy and the cash surrender value of the policy (such difference being referred to as the &#147;Net at
Risk Amount&#148;). In no event will the amount payable to an individual&#146;s beneficiary(ies) exceed the
Net at Risk Amount in the policy as of the date of the individual&#146;s death. Park National Bank will
be entitled to any death proceeds payable under the policy remaining after payment to the
individual&#146;s beneficiary(ies).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park National Bank maintains split-dollar life insurance policies on behalf of C. Daniel
DeLawder, William T. McConnell and David L. Trautman, in their respective capacities as executive
officers (and, in the case of Mr.&nbsp;McConnell, a former executive officer) of Park National Bank.
Park National Bank also maintains a split-dollar life insurance policy on behalf of William A.
Phillips in his capacity as a former executive officer of the Century National Division. Park
National Bank will receive proceeds under each policy in an amount equal to the premiums paid up to
the date of death plus earnings accrued in respect of the policy since the inception of the policy.
Each of Messrs.&nbsp;DeLawder, McConnell, Phillips and Trautman has the right to designate the
beneficiary to whom his share of the proceeds under the policy (approximately two times his highest
annual total compensation during his employment with Park National Bank or the Century National
Division, as appropriate) is to be paid. Each policy remains in effect following the covered
individual&#146;s retirement as long as the covered individual is fully vested in the Park Pension Plan,
has reached age 62, has not been employed by another financial services firm and was not terminated
for cause. If Mr.&nbsp;DeLawder&#146;s share of the proceeds under his policy were computed as of
December&nbsp;31, 2009, his share would have been $1,911,980. If Mr.&nbsp;McConnell&#146;s share of the proceeds
under his policy were computed as of December&nbsp;31, 2009, his share would have been $1,455,000. If
Mr.&nbsp;Phillips&#146; share of the proceeds under his policy were computed as of December&nbsp;31, 2009, his
share would have been $309,029. If Mr.&nbsp;Trautman&#146;s share of the proceeds under his policy were
computed as of December&nbsp;31, 2009, his share would have been $1,270,880.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park National Bank maintains a split-dollar life insurance policy on behalf of Mr.&nbsp;Egger, in
his capacity as a former executive officer of the Security National Division. Park National Bank
will receive proceeds under the policy in an amount equal to the premiums paid up to the date of
death plus earnings accrued in respect of the policy since the inception of the policy. Mr.&nbsp;Egger
has the right to designate the beneficiary to whom his share of the proceeds under the policy
(approximately three and one-half times his highest annual total compensation during his employment
with the Security National Division or $1,597,341) is to be paid. Mr.&nbsp;Egger&#146;s policy remained in
effect following his retirement as an executive officer of the Security National Division on
March&nbsp;31, 2003.
</DIV>
<DIV align="left">
<A name="170"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Change in Control Payments</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">None of the current directors of Park is entitled to payment of any benefits upon a change in
control of Park.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->59<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="171"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Other Compensation</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>C. Daniel DeLawder and David L. Trautman</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">C.&nbsp;Daniel DeLawder and David L. Trautman currently serve as executive officers of Park and of
Park National Bank. Please see the discussion of their compensation as executive officers under
the heading <B>&#147;EXECUTIVE COMPENSATION</B>&#148; beginning on page 31.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>William T. McConnell and William A. Phillips</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">William T. McConnell is employed by Park National Bank in a non-executive officer capacity.
In such capacity, he received the amount of $33,000 during the 2009 fiscal year. William A.
Phillips is employed by the Century National Division in a non-executive officer capacity. In such
capacity, he received the amount of $33,000 during the 2009 fiscal year. Each of Messrs.&nbsp;McConnell
and Phillips is eligible to participate in the employee benefit programs maintained by Park and
Park National Bank (and its divisions), including medical, dental and disability insurance plans,
on the same terms as all other employees of Park and Park National Bank (and its divisions).
Messrs.&nbsp;McConnell and Phillips no longer participate in the Park Pension Plan. In 1998, each
received a lump sum distribution in respect of the benefits payable to him in accordance with the
terms of the Park Pension Plan, after reaching age 65. Mr.&nbsp;McConnell has participated in the SERP
and has been receiving an annual targeted benefit of $53,200. Mr.&nbsp;Phillips does not participate in
the SERP. Each of Messrs.&nbsp;McConnell and Phillips continues to participate in the Park KSOP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Harry O. Egger</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Since July&nbsp;1, 2009, Harry O. Egger has been employed by the Security National Division in a
non-executive officer capacity. In such capacity, he received the amount of $16,246 for the period
from July&nbsp;1, 2009 through December&nbsp;31, 2009. Mr.&nbsp;Egger is eligible to participate in the employee
benefit programs maintained by Park and Park National Bank (and its divisions), including medical,
dental and disability insurance plans, on the same terms as all other employees of Park and Park
National Bank (and its divisions). Although Mr.&nbsp;Egger is also eligible to participate in the Park
KSOP, he made no elective deferral contributions during the 2009 fiscal year. Prior to July&nbsp;1,
2009, Mr.&nbsp;Egger received the same meeting fees and cash retainers as other non-employee directors
of Park, other members of the Board of Directors of the Security National Division and other
members of the committees of the respective boards on which he served.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Since March&nbsp;31, 2003, Mr.&nbsp;Egger has received and will continue to receive a monthly pension
benefit under the Park Pension Plan of $6,318.86. In addition, under the provisions of his
employment agreement with Security National Division (the term of which ended March&nbsp;31, 2003),
Mr.&nbsp;Egger receives an annual supplemental retirement benefit in the amount of $153,320, which he
will be paid for the remainder of his life.
</DIV>
<DIV align="left">
<A name="172"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Director Compensation for 2009</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following table summarizes the compensation paid by Park to each individual who served as
a non-executive officer director of Park during the 2009 fiscal year for service on the Board of
Directors of Park and the board of directors of Park National Bank or a division of Park National
Bank. Dollar amounts have been rounded up to the nearest whole dollar.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->60<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Director Compensation for 2009</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Change in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Pension Value</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">and Nonqualified</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Fees Earned</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Deferred</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">or Paid in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">All Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Cash</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Stock Awards</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Earnings</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Total</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name (1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($) (2)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas L. Berning (3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">22,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">34,037</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maureen Buchwald</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">18,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">1,631</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">30,868</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">James J. Cullers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">1,849</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">30,236</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harry O. Egger</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">8,028</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">22,571</TD>
    <TD nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">54,436</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">F. William Englefield IV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">31,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">276</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">42,813</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stephen J. Kambeitz (7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William T. McConnell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">49,047</TD>
    <TD nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">49,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Timothy S. McLain (9)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,600</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,713</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,313</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John J. O&#146;Neill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">27,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">2,095</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">41,132</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William A. Phillips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">38,986</TD>
    <TD nowrap>(10)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">38,986</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Gilbert Reese (11)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">2,095</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">8,095</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rick R. Taylor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">606</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">24,143</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sarah Reese Wallace (12)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,600</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">20,737</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leon Zazworsky</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">40,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">462</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">51,699</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>C. Daniel DeLawder, Park&#146;s Chairman of the Board and Chief Executive Officer, and David L.
Trautman, Park&#146;s President and Secretary, are not included in this table as they are executive
officers of Park and Park National Bank and thus receive no compensation for their services as
directors. The compensation received by Messrs.&nbsp;DeLawder and Trautman as executive officers of
Park and Park National Bank is shown in the Summary Compensation Table for 2009 on page 46.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents the closing price of Park&#146;s common shares on NYSE Amex on October&nbsp;19, 2009
($61.87) times the number of common shares granted on that date in the form of an annual retainer
under the Directors&#146; Stock Plan. This amount also represents the grant date fair value of the
common shares awarded computed in accordance with FASB ASC Topic 718. The following individuals
received 180 common shares of Park as an annual retainer: Nicholas L. Berning; Maureen Buchwald;
James J. Cullers; Harry O. Egger; F. William Englefield IV; John J. O&#146;Neill; Rick R. Taylor; Sarah
Reese Wallace; and Leon Zazworsky. Timothy S. McLain received 60 common shares of Park as an
annual retainer for his service as a member of the Board of Directors of the Century National
Division.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Berning resigned as a director of Park and as a member of the Board of Directors of
The Park National Bank of Southwest Ohio &#038; Northern Kentucky Division, effective as of the close of
business on December&nbsp;31, 2009.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->61<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Reflects the amount of premium deemed to have been paid on behalf of the named individual
under the split-dollar life insurance policy maintained on his or her behalf.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>During the 2009 fiscal year, earnings in the amount of $8,028 were accrued in respect of
the cumulative amount which has been deferred for Mr.&nbsp;Egger&#146;s account under the Security National
Bank and Trust Co. Second Amended and Restated 1988 Deferred Compensation Plan (the &#147;Security
Deferred Compensation Plan&#148;). The proceeds of Mr.&nbsp;Egger&#146;s deferred compensation account will be
distributed to him in cash upon the termination of his service on the Board of Directors of
the Security National Division. As of December&nbsp;31, 2009, the cumulative amount accrued for Mr.
Egger&#146;s account under the Security Deferred Compensation Plan was $810,824.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>The aggregate change in the actuarial present value of Mr.&nbsp;Egger&#146;s accumulated benefits under
the Park Pension Plan and the terms of his employment agreement providing for an annual
supplemental retirement benefit, determined using interest rate and mortality rate assumptions
consistent with those in Park&#146;s consolidated financial statements, decreased by $65,684 during the
2009 fiscal year. During the 2009 fiscal year, Mr.&nbsp;Egger received pension benefits under the Park
Pension Plan in the aggregate amount of $75,826 and a supplemental retirement benefit under the
terms of his employment agreement in the amount of $153,320, which amounts are not included in the
amounts shown in this table since these benefits were earned in his capacity as an employee of the
Security National Division.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents the sum of: (i) $6,325, reflecting the amount of premium deemed to have been
paid on behalf of Mr.&nbsp;Egger under the split-dollar life insurance policy maintained on his behalf
by the Security National Division; and (ii) $16,246, reflecting the amount he received in his
capacity as a non-executive officer of the Security National Division during the 2009 fiscal year
(i.e., from July&nbsp;1, 2009 through December&nbsp;31, 2009).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Kambeitz was elected as a director of Park and of Park National Bank, effective as of
the close of business on December&nbsp;31, 2009. Accordingly, he received no compensation for service
as a director of Park or of Park National Bank in respect of the 2009 fiscal year.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents the sum of: (i) $10,636, reflecting the amount of premium deemed to have been
paid on behalf of Mr.&nbsp;McConnell under the split-dollar life insurance policy maintained on his
behalf by Park National Bank; (ii) $4,345, reflecting the amount of premium deemed to have been
paid on behalf of Mr.&nbsp;McConnell under the split-dollar life insurance policy which funds his
account under the SERP (and his SERP Agreement); (iii) $33,000, reflecting the amount he received
in his capacity as a non-executive officer employee of Park National Bank during the 2009 fiscal
year; and (iv) $1,066, representing the contribution to the Park KSOP on Mr.&nbsp;McConnell&#146;s behalf to
match his 2009 pre-tax elective deferral contributions. During the 2009 fiscal year, Mr.&nbsp;McConnell
received an annual targeted benefit under his SERP Agreement of $53,200, which amount is not
included in the amounts shown in this table since this benefit was earned in his capacity as
executive officer and employee of Park and Park National Bank prior to reaching age 62.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;McLain was elected as a director of Park, effective as of the close of business on
December&nbsp;31, 2009. He served as a member of the Board of Directors of the Century National Division
during the entire 2009 fiscal year. The amounts shown in this table reflect compensation received
in his capacity as a member of the Board of Directors of the Century National Division.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->62<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(10)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents the sum of: (i) $4,800, reflecting the amount of premium deemed to have been
paid on behalf of Mr.&nbsp;Phillips under the split-dollar life insurance policy maintained on his
behalf by Park National Bank; (ii) $33,000, reflecting the amount he received in his capacity as a
non-executive officer employee of the Century National Division during the 2009 fiscal year; and
(iii) $1,186, representing the contribution to the Park KSOP on Mr.&nbsp;Phillip&#146;s behalf to match his
2009 pre-tax elective deferral contributions.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(11)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Reese retired as a member of Board of Directors of Park and a member of the Board of
Directors of Park National Bank, effective April&nbsp;20, 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(12)</TD>
    <TD>&nbsp;</TD>
    <TD>Ms.&nbsp;Wallace was elected as a director of Park, effective April&nbsp;20, 2009. She served as a
director of Park National Bank during the entire 2009 fiscal year.</TD>
</TR>

</TABLE>

<DIV align="left">
<A name="173"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PROPOSAL 2 &#151; NON-BINDING ADVISORY VOTE ON PARK&#146;S EXECUTIVE COMPENSATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The ARRA was signed into law on February&nbsp;17, 2009. In addition to a wide variety of programs
intended to stimulate the economy, the ARRA imposes significant new requirements for and
restrictions relating to the compensation arrangements of financial institutions that received
government funds through TARP, including institutions like Park that participated in the Capital
Purchase Program prior to the enactment of the ARRA. These requirements and restrictions apply
throughout the ARRA Covered Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">One of the requirements under EESA, as amended by the ARRA, is that for any meeting of Park&#146;s
shareholders held during the ARRA Covered Period for which proxies will be solicited for the
election of directors, Park must provide a separate non-binding advisory vote to the shareholders
to approve the executive compensation described in Park&#146;s proxy statement. This is commonly
referred to as a &#147;say on pay&#148; proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As a shareholder of Park, you are being provided with the opportunity to endorse or not
endorse our executive compensation program and policies through the following resolution:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>&#147;RESOLVED, that the shareholders approve Park&#146;s executive compensation, as
described in the &#147;Compensation Discussion and Analysis,&#148; the &#147;Compensation
Committee Report&#148; and the tabular and accompanying narrative disclosure contained
on pages 31 through 57 in this proxy statement.&#148;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Because your vote is advisory, it will not be binding upon Park&#146;s Board of Directors or the
Compensation Committee, overrule any decision made by the Board of Directors or the Compensation
Committee, or create or imply any additional fiduciary duty by the Board of Directors or the
Compensation Committee. The Compensation Committee may, however, take into account the outcome of
the vote when considering future executive compensation arrangements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">We believe that our compensation policies and procedures are reasonable in comparison both to
our peer bank holding companies and to Park&#146;s performance during the 2009 fiscal year. We also
believe that our compensation program strongly aligns with the interests of our shareholders in the
long-term value of Park as well as the components that drive long-term value.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->63<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="174"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Recommendation and Vote</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT THE SHAREHOLDERS OF PARK VOTE &#147;</B><B><I>FOR</I></B><B>&#148;
APPROVAL, IN A NON-BINDING ADVISORY VOTE, OF PARK&#146;S EXECUTIVE COMPENSATION.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The affirmative vote of a majority of the common shares represented at the Annual Meeting, in
person or by proxy, and entitled to vote on the proposal is required to approve, in a non-binding
advisory vote, Park&#146;s executive compensation disclosed in this proxy statement. The effect of an
abstention is the same as a vote <I>&#147;</I><B><I>AGAINST</I></B><I>&#148; </I>the proposal.
</DIV>
<DIV align="left">
<A name="175"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PROPOSAL 3 &#151; RATIFICATION OF THE APPOINTMENT OF THE INDEPENDENT <BR>
REGISTERED PUBLIC ACCOUNTING FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Crowe Horwath LLP, together with its predecessor Crowe Chizek and Company LLC (&#147;Crowe
Horwath&#148;), has served as Park&#146;s independent registered public accounting firm since March&nbsp;15, 2006.
Crowe Horwath audited Park&#146;s consolidated financial statements as of and for the fiscal year ended
December&nbsp;31, 2009 and the effectiveness of Park&#146;s internal control over financial reporting as of
December&nbsp;31, 2009. Representatives of Crowe Horwath are expected to be present at the Annual
Meeting, will have the opportunity to make a statement if they desire to do so and are expected to
be available to respond to appropriate questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The appointment of Park&#146;s independent registered public accounting firm is made annually by
the Audit Committee. Park has determined to submit the appointment of the independent registered
public accounting firm to the shareholders for ratification because of such firm&#146;s role in
reviewing the quality and integrity of Park&#146;s consolidated financial statements and internal
control over financial reporting. Before appointing Crowe Horwath, the Audit Committee carefully
considered that firm&#146;s qualifications as the independent registered public accounting firm for Park
and the audit scope.
</DIV>
<DIV align="left">
<A name="176"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Recommendation and Vote Required to Ratify Appointment of Crowe Horwath</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>THE AUDIT COMMITTEE AND THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMEND THAT THE SHAREHOLDERS OF
PARK VOTE &#147;</B><B><I>FOR</I></B><B>&#148; THE RATIFICATION OF THE APPOINTMENT OF CROWE HORWATH.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The affirmative vote of a majority of the common shares represented at the Annual Meeting, in
person or by proxy, and entitled to vote on the proposal, is required to ratify the appointment of
Crowe Horwath as Park&#146;s independent registered public accounting firm for the fiscal year ending
December&nbsp;31, 2010. The effect of an abstention is the same as a
vote <I>&#147;</I><B><I>AGAINST</I></B><I>&#148;. </I>Even if the
appointment of Crowe Horwath is ratified by the shareholders, the Audit Committee, in its
discretion, could decide to terminate the engagement of Crowe Horwath and to engage another firm if
the Audit Committee determines such action is necessary or desirable. If the appointment of Crowe
Horwath is not ratified, the Audit Committee will reconsider (but may decide to maintain) the
appointment.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->64<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="177"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>AUDIT COMMITTEE MATTERS</B>
</DIV>

<DIV align="left">
<A name="178"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Report of the Audit Committee for the Fiscal Year Ended December&nbsp;31, 2009</B>
</DIV>

<DIV align="left">
<A name="179"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Role of the Audit Committee, Independent Registered Public Accounting Firm and
Management</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Audit Committee consists of four directors, each of whom qualifies as an independent
director under the applicable NYSE Amex Rules and SEC Rule&nbsp;10A-3. The Audit Committee operates
under the Audit Committee Charter adopted by Park&#146;s Board of Directors. The Audit Committee is
responsible for assisting the Board of Directors in the oversight of the accounting and financial
reporting processes of Park and Park&#146;s subsidiaries. In particular, the Audit Committee assists
the Board of Directors in overseeing: (i)&nbsp;the integrity of Park&#146;s consolidated financial statements
and the effectiveness of Park&#146;s internal control over financial reporting; (ii)&nbsp;the legal
compliance and ethics programs established by Park&#146;s management and the Board of Directors;
(iii)&nbsp;the qualifications and independence of Park&#146;s independent registered public accounting firm;
(iv)&nbsp;the performance of Park&#146;s independent registered public accounting firm and Park&#146;s Internal
Audit Department; and (v)&nbsp;the annual independent audit of Park&#146;s consolidated financial statements.
The Audit Committee is responsible for the appointment, compensation and oversight of the work of
Park&#146;s independent registered public accounting firm. Crowe Horwath was appointed to serve as
Park&#146;s independent registered public accounting firm for the 2009 fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">During the 2009 fiscal year, the Audit Committee met 10 times, and the Audit Committee
discussed the interim financial and other information contained in each quarterly earnings
announcement and periodic filings with the SEC with Park&#146;s management and Crowe Horwath prior to
public release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s management has the primary responsibility for the preparation, presentation and
integrity of Park&#146;s consolidated financial statements, for the appropriateness of the accounting
principles and reporting policies that are used by Park and Park&#146;s subsidiaries and for the
accounting and financial reporting processes, including the establishment and maintenance of
adequate systems of disclosure controls and procedures and internal control over financial
reporting. Management also has the responsibility for the preparation of an annual report on
management&#146;s assessment of the effectiveness of Park&#146;s internal control over financial reporting.
Park&#146;s independent registered public accounting firm is responsible for performing an audit of
Park&#146;s annual consolidated financial statements in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and issuing its report thereon based on such
audit, for issuing an attestation report on Park&#146;s internal control over financial reporting and
for reviewing Park&#146;s unaudited interim consolidated financial statements. The Audit Committee&#146;s
responsibility is to provide independent, objective oversight of these processes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In discharging its oversight responsibilities, the Audit Committee regularly met with Park&#146;s
management, Crowe Horwath and Park&#146;s internal auditors throughout the year. The Audit Committee
often met with each of these groups in executive session. Throughout the relevant period, the
Audit Committee had full access to management as well as to Crowe Horwath and Park&#146;s internal
auditors. To fulfill its responsibilities, the Audit Committee did, among other things, the
following:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewed the work performed by Park&#146;s Internal Audit Department;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>monitored the progress and results of the testing of internal control over financial
reporting pursuant to Section&nbsp;404 of the Sarbanes-Oxley Act of 2002 and other
applicable regulatory requirements, reviewed a report from management and Park&#146;s
Internal Audit Department regarding the design, operation and effectiveness of internal
control over financial reporting,
and reviewed an attestation report from Crowe Horwath regarding Park&#146;s internal control
over financial reporting;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->65<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewed the audit plan and scope of the audit with Crowe Horwath and discussed with
Crowe Horwath the matters required to be discussed by auditing standards generally
accepted in the United States, including those described in Statement on Auditing
Standards No.&nbsp;114, The Auditor&#146;s Communication With Those Charged With Governance, as
amended;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewed and discussed with management and Crowe Horwath the consolidated financial
statements of Park for the 2009 fiscal year;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewed management&#146;s representations that those consolidated financial statements
were prepared in accordance with accounting principles generally accepted in the United
States and fairly present the consolidated results of operations and financial position
of Park and its subsidiaries;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>received the written disclosures and the letter from Crowe Horwath required by
applicable requirements of the Public Company Accounting Oversight Board regarding
Crowe Horwath&#146;s communications with the Audit Committee concerning independence, and
has discussed with Crowe Horwath that firm&#146;s independence;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewed all audit and non-audit services performed for Park and Park&#146;s subsidiaries
by Crowe Horwath and considered whether the provision of non-audit services was
compatible with maintaining that firm&#146;s independence from Park and Park&#146;s subsidiaries;
and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>discussed with management and Park&#146;s Internal Audit Department Park&#146;s systems to
monitor and manage business risk, and Park&#146;s legal and ethical compliance programs.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<A name="180"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Management&#146;s Representations and Audit Committee Recommendation</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Park&#146;s management has represented to the Audit Committee that Park&#146;s audited consolidated
financial statements as of and for the fiscal year ended December&nbsp;31, 2009, were prepared in
accordance with accounting principles generally accepted in the United States, and the Audit
Committee has reviewed and discussed those audited consolidated financial statements with
management and Crowe Horwath.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Based on the Audit Committee&#146;s discussions with Park&#146;s management and Crowe Horwath and the
Audit Committee&#146;s review of the report of Crowe Horwath to the Audit Committee, the Audit Committee
recommended to the Board of Directors that Park&#146;s audited consolidated financial statements be
included in Park&#146;s Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2009, for
filing with the SEC.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Submitted by the members of the Audit Committee:</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Stephen J. Kambeitz (Chair)</I></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Maureen Buchwald</I></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Timothy S. McLain</I></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Leon Zazworsky</I></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->66<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="181"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Pre-Approval of Services Performed by Independent Registered Public Accounting Firm</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Under applicable SEC rules, the Audit Committee is required to pre-approve the audit and
non-audit services performed by the independent registered public accounting firm employed by Park
in order to ensure that those services do not impair that firm&#146;s independence from Park. The SEC
rules specify the types of non-audit services that an independent registered public accounting firm
may not provide to its client and establish the Audit Committee&#146;s responsibility for administration
of the engagement of the independent registered public accounting firm.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Consistent with the SEC rules, the Audit Committee Charter requires that the Audit Committee
review and pre-approve all audit services and permitted non-audit services provided by Park&#146;s
independent registered public accounting firm to Park or any of Park&#146;s subsidiaries. The Audit
Committee may delegate pre-approval authority to a member of the Audit Committee and, if it does,
the decisions of that member must be presented to the full Audit Committee at its next scheduled
meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">All requests or applications for services to be provided by the independent registered public
accounting firm must be submitted to the Audit Committee by both the independent registered public
accounting firm and Park&#146;s Chief Financial Officer, and must include a joint statement as to
whether, in their view, the request or application is consistent with SEC rules governing the
independence of the independent registered public accounting firm.
</DIV>
<DIV align="left">
<A name="182"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Fees of Independent Registered Public Accounting Firm</B>
</DIV>

<DIV align="left">
<A name="183"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Audit Fees</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The aggregate audit fees billed by Crowe Horwath for the 2009 fiscal year and the 2008 fiscal
year were approximately $550,000 and $555,000, respectively. These amounts include fees for
professional services rendered by Crowe Horwath in connection with the audit of Park&#146;s consolidated
financial statements and internal control over financial reporting and reviews of the consolidated
financial statements included in Park&#146;s Quarterly Reports on Form 10-Q.
</DIV>
<DIV align="left">
<A name="184"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Audit-Related Fees</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The aggregate fees for audit-related services rendered by Crowe Horwath for the 2009 fiscal
year were approximately $124,470. This amount includes fees for audits of the Park Pension Plan
and the Park KSOP for the 2009 fiscal year, audits of escrow accounts maintained by the title
agency subsidiary of Park, and services related to performing accounting due diligence and
providing required consents and comfort letters in connection with securities offerings pursuant to
two automatic shelf registration statements filed by Park during the 2009 fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The aggregate fees for audit-related services rendered by Crowe Horwath for the 2008 fiscal
year were approximately $146,100. This amount includes fees for audits of the Park Pension Plan
and the Park KSOP for the 2008 fiscal year, audits of health plans maintained by Park and audits of
escrow accounts maintained by the title agency subsidiary of Park as well as fees for Federal Home
Loan Bank collateral audits for Park&#146;s subsidiary banks.
</DIV>
<DIV align="left">
<A name="185"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>Tax Fees</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The aggregate fees for tax services rendered by Crowe Horwath for the 2009 fiscal year and the
2008 fiscal year were approximately $77,100 and $103,970, respectively, and primarily pertain to
the preparation of federal and state tax returns for Park and Park&#146;s subsidiary banks in each year.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->67<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
<DIV align="left">
<A name="186"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B><I>All Other Fees</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The fees pertaining to other services rendered by Crowe Horwath for the 2009 fiscal year and
the 2008 fiscal year totaled approximately $12,647 and $12,683, respectively. These fees were for
internal controls software, risk management software and consulting services provided by Crowe
Horwath.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">All of the services rendered to Park and Park&#146;s subsidiaries by Crowe Horwath for the 2009
fiscal year and the 2008 fiscal year had been pre-approved by the Audit Committee.
</DIV>
<DIV align="left">
<A name="187"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SHAREHOLDER PROPOSALS FOR 2011 ANNUAL MEETING</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Proposals by shareholders intended to be presented at the 2011 Annual Meeting of Shareholders
must be received by the Secretary of Park no later than November&nbsp;5, 2010, to be eligible for
inclusion in Park&#146;s proxy, notice of meeting, proxy statement and Notice of Internet Availability
of Proxy Materials relating to the 2011 Annual Meeting. Park will not be required to include in
its proxy, notice of meeting, proxy statement or Notice of Internet Availability of Proxy
Materials, a shareholder proposal that is received after that date or that otherwise fails to meet
the requirements for shareholder proposals established by applicable SEC rules.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The SEC has promulgated rules relating to the exercise of discretionary voting authority under
proxies solicited by the Board of Directors. If a shareholder intends to present a proposal at the
2011 Annual Meeting of Shareholders without inclusion of that proposal in Park&#146;s proxy materials
and written notice of the proposal is not received by the Secretary of Park by January&nbsp;19, 2011, or
if Park meets other requirements of the applicable SEC rules, the proxies solicited by the Board of
Directors for use at the 2011 Annual Meeting will confer discretionary authority to vote on the
proposal should it then be raised at the 2011 Annual Meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">In each case, written notice must be given to Park&#146;s Secretary, whose name and address are:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David L. Trautman</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park National Corporation</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">50 North Third Street</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Post Office Box 3500</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Newark, Ohio 43058-3500</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Shareholders desiring to nominate candidates for election as directors at the 2011 Annual
Meeting must follow the procedures described under the heading <B>&#147;Nominating Procedures&#148; </B>beginning on
page 20.
</DIV>
<DIV align="left">
<A name="188"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>OTHER MATTERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As of the date of this proxy statement, the Board of Directors knows of no matter that will be
presented for action by the shareholders at the Annual Meeting other than those matters discussed
in this proxy statement. However, if any other matter requiring a vote of the shareholders
properly comes before the Annual Meeting, the individuals acting under the proxies solicited by the
Board of Directors will vote and act according to their best judgments in light of the conditions
then prevailing, to the extent permitted under applicable law.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->68<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">It is important that your proxy card be completed, signed and returned promptly. If you do
not expect to attend the Annual Meeting in person, please fill in, sign and return the enclosed
proxy card in the self-addressed envelope furnished herewith.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By Order of the Board of Directors,</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><IMG src="c97199c9719901.gif" alt="-s- David L. Trautman"></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March&nbsp;5, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DAVID L. TRAUTMAN</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>President and Secretary</I></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->69<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>PARK
NATIONAL CORPORATION OFFERS SHAREHOLDERS OF RECORD TWO WAYS TO<BR>VOTE YOUR PROXY:</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 8pt"><B>TELEPHONE VOTING</B>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 3pt">This method is available for residents of the United States and Canada. On a touch-tone telephone,
call <B>TOLL FREE 1-866-341-2072 </B>during normal business hours for an agent to record your vote
instructions.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 8pt"><B>VOTING BY MAIL</B>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 3pt">Simply complete, sign and date your proxy card and return it in the postage-paid envelope that has
been provided.
</DIV>
<DIV align="center" style="font-size: 11pt; margin-top: 15pt"><B>If you have any questions concerning this proxy solicitation and the proposals to be considered at
the Annual Meeting, or require any assistance in voting your common shares, please call The Altman
Group at 1-866-341-2072. This is a toll-free telephone number.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt">TO DELIVER YOUR PROXY BY MAIL, PLEASE DETACH PROXY CARD HERE
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 3pt"><DIV style="border-bottom: 1px dashed #000000; font-size: 3px">&nbsp;</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom" style="font-size: 6pt">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top" nowrap rowspan="2"><DIV style="margin-left:0px; text-indent:-0px">
<div style="font-size: 20pt"><FONT face="Wingdings">&#120;</FONT></div>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="3"><B>Please
mark
votes as
in this
example.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><b>PARK NATIONAL
CORPORATION</b><br style="font-size: 12pt">
</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-top: 3px solid #000000;">&nbsp;</TD>
    <TD style="border-top: 3px solid #000000;">&nbsp;</TD>
<TD style="border-top: 3px solid #000000; border-right: 3px solid #000000;" rowspan="1" colspan="0">&nbsp;</TD>
 </TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" colspan="6" rowspan="3"><div align="justify" style="margin-left: 1%"><b>
THE BOARD OF DIRECTORS OF THE COMPANY RECOMMENDS THAT SHAREHOLDERS
VOTE <u><i>FOR</i></u> THE ELECTION OF THE NOMINEES LISTED IN ITEM NO. 1 AS
DIRECTORS OF THE COMPANY AND <u><i>FOR</i></u>
THE PROPOSALS IN ITEM NO. 2 AND ITEM NO. 3. WHERE A CHOICE IS SPECIFIED, THE COMMON SHARES REPRESENTED BY THIS PROXY CARD, WHEN PROPERLY EXECUTED, WILL BE VOTED OR
NOT VOTED AS SPECIFIED. IF NO CHOICE IS SPECIFIED, THE COMMON SHARES REPRESENTED BY THIS PROXY CARD, WHEN PROPERLY EXECUTED, WILL BE VOTED, EXCEPT IN THE CASE OF BROKER
NON-VOTES, WHERE APPLICABLE, <u><i>FOR</i></u> THE ELECTION OF THE
NOMINEES LISTED IN ITEM NO. 1 AS DIRECTORS OF THE COMPANY,
<u><i>FOR</i></u> THE PROPOSAL IN ITEM NO. 2 AND <u><i>FOR</i></u> THE PROPOSAL IN
ITEM NO. 3. IF ANY OTHER MATTERS ARE PROPERLY BROUGHT BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT OR IF A NOMINEE FOR ELECTION AS A DIRECTOR NAMED IN THE PROXY
STATEMENT IS UNABLE TO SERVE OR FOR GOOD CAUSE WILL NOT SERVE, THE COMMON SHARES REPRESENTED BY THIS PROXY CARD WILL BE VOTED IN THE DISCRETION OF THE INDIVIDUALS
DESIGNATED TO VOTE THIS PROXY, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON SUCH MATTERS OR FOR SUCH SUBSTITUTE NOMINEE(S) AS THE DIRECTORS MAY RECOMMEND.</B></div>
</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>
<!-- End Table Body --></TABLE>
</DIV>

<P><DIV style="position: relative; float: left; width: 48%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom" style="font-size: 0pt">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>WITHHOLD</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FOR ALL</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FOR</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>AUTHORITY</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>EXCEPT</B></TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="top">

<TD><DIV align="justify"><DIV align="justify" style="margin-left: 20px; text-indent: -20px">1. To elect as directors of the Company all of the nominees listed
below to serve for terms of three years to expire at the 2013
Annual Meeting of Shareholders (except as marked to the
contrary).*</DIV></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 10pt">Maureen Buchwald&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Timothy S. McLain&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Rick R. Taylor<BR>
Sarah Reese Wallace&nbsp;&nbsp;&nbsp;&nbsp;
Leon Zazworsky
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 10pt"><b>*INSTRUCTION: To withhold authority to vote for any individual nominee, mark &#147;FOR ALL EXCEPT&#148; and
write that nominee&#146;s name on the line provided below.</b>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 1pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>


</DIV>
<DIV style="position: relative; float: right; width: 48%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom" style="font-size: 0pt">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FOR</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>AGAINST</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>ABSTAIN</B></TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="top">
    <TD><DIV align="justify" style="margin-left: 20px; text-indent: -20px">2. To approve, in a non-binding advisory vote, the executive
compensation of the Company disclosed in the Proxy
Statement for the Annual Meeting.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="padding-top: 1px">
    <TD><DIV align="justify" style="margin-left: 20px; text-indent:-20px">3.&nbsp;&nbsp;&nbsp;To ratify the appointment of Crowe Horwath LLP as the independent registered public accounting firm of the Company for
the fiscal year ending December&nbsp;31, 2010.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

</TR>
<!-- End Table Body --></TABLE>
</DIV>

</DIV>
<BR clear="all"><BR>


<DIV align="left"><DIV style="font-size: 1pt; margin-top: 0pt; width: 45%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 10pt"><B>The undersigned shareholder(s) authorize(s) the individuals designated to vote this proxy to
vote in their discretion, to the extent permitted by applicable law, upon such other matters (none
known at the time of solicitation of this proxy) as may properly come before the Annual Meeting or
any adjournment and if a nominee listed above is unable or unwilling to serve, for such substitute
nominee as the directors of the Company may recommend.</B>
</DIV>

<DIV align="justify" style="font-size: 8pt; margin-top: 3pt"><B>Any proxy previously given to vote the common shares which the undersigned is (are)&nbsp;entitled to
vote at the Annual Meeting is hereby revoked. </B>Receipt is acknowledged of the accompanying Notice of
Annual Meeting of Shareholders and copy of the Proxy Statement for the April&nbsp;19, 2010 Annual
Meeting and the Company&#146;s 2009 Annual Report.
</DIV>
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="center" style="font-size: 8pt; margin-top: 5pt"><B>THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF PARK NATIONAL CORPORATION.<BR>
PLEASE ACT PROMPTLY &#151; COMPLETE, SIGN, DATE AND MAIL YOUR PROXY CARD TODAY</B>
</DIV>

</DIV>


<DIV align="center" style="font-size: 8pt; margin-top: 8pt"><B>PLEASE BE SURE TO SIGN AND DATE THIS PROXY CARD BELOW:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>YES</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>NO</B></TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="middle">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap><DIV style="margin-left:15px; text-indent:-15px; font-size: 8pt">Please indicate if you plan to attend the Annual Meeting:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><div style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></div></TD>

</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
2010</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shareholder</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Co-Holder (if any)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px; font-size: 3pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><div align="justify"  style="font-size: 8pt">Please sign exactly as your name(s) appear(s) hereon. If common shares are registered in
two names, both shareholders must sign. When signing as Executor, Administrator,
Trustee, Guardian, Attorney or Agent, please give full title as such. If shareholder is a
corporation, please sign in full corporate name by President or another authorized officer.
If shareholder is a partnership or other entity, please sign that entity&#146;s name by an
authorized person. (Please note any change of address on this proxy card.)</div></TD>
</TR>
<TR valign="top" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="bottom" style="font-size: 1pt; border-left: 3px solid #000000;"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="bottom" style="font-size: 1pt; border-left: 3px solid #000000;"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="top" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-bottom: 3px solid #000000; border-left: 3px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 40%">PLEASE DETACH PROXY CARD HERE
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><DIV style="border-bottom: 1px dashed #000000; font-size: 1px">&nbsp;</DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>REVOCABLE PROXY<BR>
PARK NATIONAL CORPORATION<BR><BR>

PROXY FOR ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD ON APRIL 19, 2010<BR>
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The undersigned holder(s) of common shares of Park National Corporation, an Ohio corporation
(the &#147;Company&#148;), hereby appoint(s) James J. Cullers and F. William Englefield IV, and each of them,
the lawful agents and proxies of the undersigned, with full power of substitution in each, to
attend the Annual Meeting of Shareholders of the Company (the &#147;Annual Meeting&#148;) to be held on April
19, 2010, at the offices of The Park National Bank, 50 North Third Street, Newark, Ohio, at 2:00
p.m., Eastern Daylight Saving Time, and any adjournment, and to vote all of the common shares of
the Company which the undersigned is (are)&nbsp;entitled to vote at such Annual Meeting or any
adjournment, as shown on the reverse side.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Please be sure to sign and date this proxy card in the boxes on the reverse side.
</DIV>
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 4px;">


<DIV align="justify" style="font-size: 10pt; margin-top: 0pt"><B>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of
Shareholders of Park National Corporation To Be Held on April&nbsp;19, 2010: </B>The Company&#146;s Proxy
Statement for the Annual Meeting and a sample of the form of proxy card sent to shareholders by the
Company are available at <U>www.snl.com/irweblinkx/docs.aspx?iid=100396</U> and the Company&#146;s 2009
Annual Report is available at <U>www.snl.com/irweblinkx/corporateprofile.aspx?iid=100396</U>.
</DIV>
</DIV>

<P>
<div align="right">
<DIV style="width: 30%; border: 1px solid black; padding: 11px;">


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SEE REVERSE SIDE</B>
</DIV>
</DIV>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="21%"></TD>
    <TD width="5%"></TD>
    <TD width="45%"></TD>
    <TD width="5%"></TD>
    <TD width="21%"></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><div style="font-size: 20pt"><FONT face="Wingdings">&#120;</FONT></div>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>PLEASE MARK VOTING<br> INSTRUCTIONS AS IN <br>THIS EXAMPLE
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>REVOCABLE VOTING INSTRUCTIONS <br>PARK NATIONAL CORPORATION <br>EMPLOYEES STOCK OWNERSHIP PLAN</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<P><DIV style="position: relative; float: left; width: 48%">

<DIV align="center" style="font-size: 8pt; margin-top: 10pt"><B>VOTING INSTRUCTIONS FOR ANNUAL MEETING<BR>
OF SHAREHOLDERS OF<BR>
PARK NATIONAL CORPORATION<BR>
TO BE HELD ON APRIL 19, 2010</B>
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 10pt">The undersigned beneficial owner of common shares of Park
National Corporation, an Ohio corporation (the &#147;Company&#148;),
allocated to the account of the undersigned under the Park
National Corporation Employees Stock Ownership Plan (the
&#147;ESOP&#148;) hereby instructs and directs the trustee of the ESOP
to vote all of the common shares of the Company allocated to
the undersigned&#146;s account under the ESOP and entitled to be
voted at the Annual Meeting of Shareholders of the Company
(the &#147;Annual Meeting&#148;) to be held on April&nbsp;19, 2010, at the
offices of The Park National Bank, 50 North Third Street,
Newark, Ohio, at 2:00 p.m., Eastern Daylight Saving Time, and
any adjournment, as shown to the right:
</DIV>
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="77%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" rowspan="3"><DIV align="justify" style="margin-left:0px; text-indent:-0px">Please be sure to sign and date these
voting instructions in the boxes below
and to the right: </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-left: 1px solid #000000; border-right: 1px solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DATE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 48%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom" style="font-size: 8pt">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>WITHHOLD</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>FOR ALL</B></TD>
</TR>
<TR style="font-size: 8pt" valign="top">
    <TD rowspan="2"><DIV align="justify" style="margin-left:20px; text-indent:-20px"><B>1.&nbsp; To elect as directors of the
Company all of the
nominees listed below to
serve for terms of three
years to expire at the 2013
Annual Meeting of Shareholders
(except as marked to the contrary).*</B></DIV></TD>

    <TD>&nbsp;</TD>

<TD nowrap align="center"><B>FOR</B><DIV style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>AUTHORITY</B><DIV style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>EXCEPT</B><DIV style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT></DIV></TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom" style="font-size: 8pt">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 8pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B>Maureen Buchwald</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B>Sarah Reese Wallace</B></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B>Timothy S. McLain</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B>Leon Zazworsky</B></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B>Rick R. Taylor</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 10pt"><B>*INSTRUCTION: To withhold authority to vote for any
individual nominee, mark &#147;FOR ALL EXCEPT&#148; and write that
nominee&#146;s name on the line provided below.</B>
</DIV>

<DIV align="center" style="font-size: 1pt; margin-top: 10pt"><DIV style="font-size: 1pt; margin-bottom: 10pt; width: 90%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt">
<TR valign="top" style="font-size: 8pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>To approve, in a non-binding advisory vote, the
executive compensation of the Company disclosed in the
Proxy Statement for the Annual Meeting.</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 8pt; margin-top: 10pt"><FONT style="font-size: 10pt" face="Wingdings"><b>&#111;</b></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>FOR</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-size: 10pt" face="Wingdings"><b>&#111;</b></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>AGAINST</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-size: 10pt" face="Wingdings"><b>&#111;</b></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ABSTAIN</B>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt">
<TR valign="top" style="font-size: 8pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>To ratify the appointment of Crowe Horwath LLP as the
independent registered public accounting firm of the
Company for the fiscal year ending December&nbsp;31, 2010.</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 8pt; margin-top: 10pt"><FONT style="font-size: 10pt" face="Wingdings"><b>&#111;</b></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>FOR</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-size: 10pt" face="Wingdings"><b>&#111;</b></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>AGAINST</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-size: 10pt" face="Wingdings"><b>&#111;</b></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ABSTAIN</B>
</DIV>



<DIV align="justify" style="font-size: 8pt; margin-top: 10pt; margin-left: 5%"><B>Any voting instructions previously given to vote at the
Annual Meeting the common shares allocated to the
undersigned&#146;s account under the ESOP are hereby revoked.</B>
Receipt is acknowledged of the accompanying Notice of
Annual Meeting of Shareholders and copy of the Proxy
Statement for the April&nbsp;19, 2010 Annual Meeting and the
Company&#146;s 2009 Annual Report.
</DIV>
</DIV>
<BR clear="all"><BR>
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>ESOP Participant</B><BR><B>
Sign to the Right</B>
</DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><DIV style="border-bottom: 1px dashed #000000; font-size: 1px">&nbsp;</DIV>
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 10pt"><B>Sign, date and return via inter-office mail to The Park National Bank Shareholder Services, c/o
First-Knox National Division of The Park National Bank, using the envelope provided.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PARK NATIONAL CORPORATION</B>
</DIV>


<DIV align="justify" style="font-size: 8 pt; margin-top: 10pt; text-indent: 8%"><B>THE BOARD OF DIRECTORS OF THE COMPANY RECOMMENDS THAT BENEFICIAL OWNERS OF COMMON SHARES OF THE
COMPANY ALLOCATED TO THEIR ACCOUNTS UNDER THE ESOP INSTRUCT AND DIRECT THE TRUSTEE OF THE ESOP TO
VOTE ALL OF THE COMMON SHARES ALLOCATED TO THEIR RESPECTIVE ACCOUNTS
UNDER THE ESOP </B><B><U><I>FOR </I></U></B><B>THE
ELECTION OF THE NOMINEES LISTED IN ITEM NO. 1 AS DIRECTORS OF THE
COMPANY AND </B><B><U><I>FOR </I></U></B><B>THE PROPOSALS IN
ITEM NO. 2 AND ITEM NO. 3. WHERE A CHOICE IS SPECIFIED, THE COMMON SHARES ALLOCATED TO THE ACCOUNT
UNDER THE ESOP OF THE PARTICIPANT IDENTIFIED IN THE VOTING INSTRUCTIONS ABOVE WILL, WHEN THE VOTING
INSTRUCTIONS ARE PROPERLY EXECUTED, BE VOTED OR NOT VOTED AS SPECIFIED. IF NO CHOICE IS SPECIFIED,
THE COMMON SHARES ALLOCATED TO THE ACCOUNT UNDER THE ESOP OF THE PARTICIPANT IDENTIFIED IN THE
VOTING INSTRUCTIONS ABOVE WILL, WHEN THE VOTING INSTRUCTIONS ARE PROPERLY EXECUTED, BE VOTED PRO
RATA IN ACCORDANCE WITH THE VOTING INSTRUCTIONS RECEIVED FROM OTHER PARTICIPANTS IN THE ESOP WHO
HAVE GIVEN VOTING INSTRUCTIONS.</B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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