Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 33

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 33
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 the board of directors, a current copy of which is available via the
Company’s website, ir.psbt.com, at the “Corporate Info – Governance Documents” page. The primary purposes, duties
and responsibilities of the nominating and corporate governance committee include:

| ● | recommend director nominees for selection by our board of directors; |

| ● | review recommendations from directors, shareholders, management, and other appropriate third parties for 
 potential director candidates and collect and analyze information regarding their suitability;           |

| ● | assist our board of directors in determining the size and composition of the board and its committees, 
 and of the board of directors and committees of our subsidiaries;                                      |

| ● | develop and make recommendations to our board of directors with respect to corporate governance guidelines 
 and other governance policies;                                                                             |

| ● | implement our board diversity equity and inclusion policy, evaluate candidates in accordance with such 
 policy, and periodically assess the effectiveness of such policy;                                      |

| ● | identify and prioritize with management significant risks that we face and recommend to our board of directors                        
 whether the full board or a particular board committee should have primary responsibility for oversight of each such identified risk; |

| ● | keep apprised of requirements, trends and best practices in corporate governance; |

| ● | review and make recommendations to our board of directors with respect to any proposed changes to our 
 articles of incorporation, bylaws, or committee charters; and                                         |

| ● | develop and make recommendations to our board of directors with respect to key executive succession plans. |

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In accordance with the FNCB
merger agreement, our bylaws provide that from and after July 1, 2024 through July 1, 2027, no vacancy on the board of directors
created by the cessation of service of a director shall be filled by the board and the board shall not nominate any individual to fill
such vacancy, unless (x) in the case of a vacancy created by the cessation of service of a Continuing PFIS Director (as defined below),
not less than a majority of the Continuing PFIS Directors have approved the appointment or nomination (as applicable) of the individual
appointed or nominated (as applicable) to fill such vacancy, in which case the Continuing FNCB Directors (as defined below) shall vote
to approve the appointment or nomination (as applicable) of such individual, and (y) in the case of a vacancy created by the cessation
of service of a Continuing F