EXHIBIT 10.6
DESCRIPTION OF PARK NATIONAL CORPORATION
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
Park National Corporation ("Park") adopted the Park National Corporation Supplemental Executive Retirement
Plan or "SERP" in December 1996. The SERP currently benefits 29 officers of Park and its subsidiaries,
including William T. McConnell, C. Daniel DeLawder, David C. Bowers and John W. Kozak. Harry O. Egger
does not participate in the SERP but is provided with supplemental retirement benefits under the terms of his
employment agreement with The Security National Bank and Trust Co. David L. Trautman does not participate
in the SERP. The SERP is a non-qualified benefit plan designed to restore benefits lost due to limitations under
the Internal Revenue Code of 1986, as amended, on the amount of compensation covered by and the benefits
payable under a defined benefit plan such as the Park National Corporation Defined Benefit Pension Plan. Park
has purchased life insurance contracts to fund the SERP. The SERP is designed to provide a monthly retirement
benefit of approximately $5,000, $10,500, $5,000 and $500 for Messrs. McConnell, DeLawder, Bowers and
Kozak, respectively. These additional benefits are not guaranteed and are dependent upon the earnings from the
related life insurance contracts compared to the average yield on three-month Treasury bills. The SERP also
provides a life insurance benefit for officers of Park and its subsidiaries participating in the SERP who die before
age 86.