Company: PFIS
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021551
Chunk: 58

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 58
---
 up to 12 months and up to $20,000 for executive outplacement assistance. If Mr. Anderson
is terminated without cause or resigns for good reason within 24 months following a change of control or within 24 months of the closing
date of the proposed FNCB merger, Mr. Anderson will be entitled to receive, in lieu of any other severance benefits, for a period
of 24 months following such termination, monthly payments equal to the sum of 1/12th of Mr. Anderson’s base salary at the time
of termination plus 1/12th of the average annual bonus paid to Mr. Anderson in the 3 fiscal years ending before his date of termination,
COBRA continuation premium payments for up to 18 months and up to $20,000 for executive outplacement assistance. Payment of severance
under the severance agreement is contingent upon Mr. Anderson’s execution and delivery of a release of claims against the Company.

<div align='center'>39

Outstanding Equity Awards at Fiscal Year</div>

The following table sets forth
information concerning equity awards outstanding as of December 31, 2024.

| Name                    |     | Number of Shares or 
 Units of Stock That 
 Have Not Vested     
 (#)                 |       |     | Market Value of     
 Shares or Units of  
 Stock That Have Not 
 Vested              
 ($)(7)              |        |     | Equity Incentive Plan 
 Awards: Number of     
 Unearned Shares,      
 Units or Other Rights 
 That Have Not Vested  
 (#)(6)                |       |     | Equity Incentive Plan                      
 Awards: Market or                          
 Payout Value of                            
 Unearned Shares,                           
 Units or Other Rights That Have Not Vested 
 ($)(7)                                     |        |
| Craig W. Best(1)        |     |                     |     – |     |                     |      – |     |                       |     – |     |                                            |      – |
| Thomas P. Tulaney(2)    |     |                     | 1,175 |     |                     | 60,137 |     |                       | 1,342 |     |                                            | 68,684 |
| Neal D. Koplin(3)       |     |                     | 1,040 |     |                     | 53,227 |     |                       | 1,184 |     |                                            | 60,597 |
| Timothy H. Kirtley(4)   |