Exhibit 10.13
FINANCIAL INSTITUTIONS, INC.
EXECUTIVE INCENTIVE PLAN
Financial Institutions, Inc. (the "Company") intends to provide annual cash incentive award opportunities for eligible executives of the Company and its Subsidiaries (defined below) through the use of this Financial Institutions, Inc. Executive Incentive Plan (the "Plan"). The objective of the Plan is to align the interests of Participants (defined below) with the interests of the Company and its Subsidiaries in obtaining superior financial results. The Plan was first approved by the Management Development and Compensation Committee of the Board of Directors of the Company (the "Committee") on March 19, 2021, to be effective as of January 1, 2021.
For purposes of the Plan, the following terms shall have the following meanings:
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EXHIBIT A
FINANCIAL INSTITUTIONS, INC.
EXECUTIVE INCENTIVE PLAN
PLAN YEAR SCHEDULE
EXHIBIT B
FINANCIAL INSTITUTIONS, INC.
EXECUTIVE INCENTIVE PLAN
AWARD CERTIFICATE
Financial Institutions, Inc., a New York financial holding company (the "Company"), hereby grants to the Participant set forth below, as of the Award Date set forth below, a cash Award (the "Award"), based on attainment of the Performance Requirements and as determined pursuant to the terms of the Financial Institutions, Inc. Executive Incentive Plan (the "Plan") and the applicable Plan Year Schedule.
Participant Tier: [__________]
Award Date: [__________]
Plan Year: [__________]
Target Amount: [__________]%
The applicable Performance Period, Performance Requirements, Performance Goals, Weighting Percentages and Funding Percentages are set forth in the attached Plan Year Schedule.
Deferred Amount (if applicable) Annual Percentage: [___]% Deferral Percentage: [___]% Deferral Performance Period: [___] Deferral Performance Requirements. The Deferred Amount is subject to the additional Deferral Performance Requirements: a. b. |
The Award is subject to the terms and conditions set forth in this Award Certificate, the applicable Plan Year Schedule and the Plan. All terms and provisions of the Plan, as the same may be amended from time to time, are incorporated and made part of this Award Certificate. If any provision of this Award Certificate is in conflict with the terms of the Plan, then the terms of the Plan shall govern. All capitalized terms used in this Award Certificate and not defined herein shall have the meanings assigned to them in the Plan. The Participant hereby expressly acknowledges receipt of a copy of the Plan.
IN WITNESS WHEREOF, the parties have executed this Award Certificate as of the Award Date.
FINANCIAL INSTITUTIONS, INC.
By: ___________________
Name: ___________________
Title: ___________________
The Participant hereby accepts and agrees to be bound by all of the terms and conditions of this Award Certificate, the applicable Plan Year Schedule and the Plan.
____________________________ _________________________
Participant Signature Date
____________________________
Participant Name (printed)