Document:

2006 Employee Share Purchase Plan (Non-U.S.), as amended

 Exhibit 10.2 
 LOGITECH INTERNATIONAL S.A. 
 2006 EMPLOYEE
SHARE PURCHASE PLAN (NON-U.S.) 
 JUNE 15, 2006 

 Table of Contents 
  

					
	 	  	 	  	Page
			
	 1.
	  	Purpose	  	1
			
	 2.
	  	Administration	  	1
			
	 3.
	  	Share Reserve	  	2
			
	 4.
	  	Eligibility	  	2
			
	 5.
	  	Offering Periods	  	2
			
	 6.
	  	Participation in the Plan	  	3
			
	 7.
	  	Purchase Price	  	3
			
	 8.
	  	Payment of Purchase Price	  	4
			
	 9.
	  	Insufficient Shares Available; Rights as a Shareholder	  	5
			
	 10.
	  	Withdrawal from the Plan	  	6
			
	 11.
	  	Termination of Employment	  	6
			
	 12.
	  	Repayment of Payroll Deductions	  	7
			
	 13.
	  	Adjustments upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale	  	7
			
	 14.
	  	Non-Transferability	  	7
			
	 15.
	  	Reports	  	7
			
	 16.
	  	Plan Term	  	8
			
	 17.
	  	Restriction on Issuance of Shares	  	8
			
	 18.
	  	Legends	  	8
			
	 19.
	  	Transfer Restrictions	  	8
			
	 20.
	  	Shares Held by Nominee	  	8
			
	 21.
	  	Termination or Amendment of the Plan	  	9

  

 i 

 LOGITECH INTERNATIONAL S.A. 
 2006 EMPLOYEE SHARE PURCHASE PLAN (NON-U.S.) 
  

	 	1.	Purpose. 

 The Logitech
International S.A. 2006 Employee Share Purchase Plan (Non-U.S.) (the “Plan”) is established to provide eligible employees of Logitech International S.A. (the “Company”) and the other Participating Companies with an
opportunity to acquire a proprietary interest in the Company by the purchase of the Company’s Shares (as defined below). The Company does not intend that the Plan qualify as an “employee stock purchase plan” under Section 423 of
the U.S. Internal Revenue Code of 1986, as amended. 
 An eligible employee of a Participating Company who participates in the
Plan (a “Participant”) may withdraw such Participant’s accumulated payroll deductions at any time during an Offering Period (as defined below). Accordingly, each Participant is, in effect, granted an option pursuant to the Plan
(a “Purchase Right”), which may or may not be exercised at the end of an Offering Period. 
 The term
“Participating Company” means (a) the Company and (b) each present or future Subsidiary of the Company that has been designated by the Company as a Participating Company for purposes of the Plan. The Participating
Companies are listed in Exhibit A, as it may be revised from time to time by the Company. 
 The term
“Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50%
or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
  

	 	2.	Administration. 

 The Plan shall be
administered by the Board of Directors of the Company (the “Board”) and/or by one or more committees duly appointed by the Board having such powers as shall be specified by the Board. Any subsequent references to the Board shall
also mean each such committee if it has been appointed to the extent of the authority delegated to such committee. All questions of interpretation of the Plan or of any Purchase Rights shall be determined by the Board, and such determinations shall
be final and binding upon all persons having an interest in the Plan and/or any Purchase Right. Subject to the provisions of the Plan, the Board shall determine all of the relevant terms and conditions of Purchase Rights granted pursuant to the
Plan. All expenses incurred in connection with the administration of the Plan shall be paid by the Company. 

	 	3.	Share Reserve. 

 The maximum number of Shares that may be issued under the Plan shall be the excess
of (a) twelve million (12,000,000)1 over (b) the number of Shares that have been issued under the Logitech International S.A. 1996
Employee Share Purchase Plan. The term “Shares” shall refer to the Registered Shares of the Company and shall also refer, where appropriate and if applicable, to American Depositary Shares representing Registered Shares of the
Company. In the event that any Purchase Right for any reason expires or is terminated or cancelled, the Shares allocable to the unexercised portion of such Purchase Right may again be subjected to a Purchase Right. 
  

	 	4.	Eligibility. 

 Any employee of a
Participating Company is eligible to participate in the Plan, except as follows: 
 (a) To the extent permitted by applicable
law, an employee shall be excluded from the Plan if his or her customary employment with the Participating Company is twenty (20) hours or less per week or five (5) months or less per calendar year; and 
 (b) To the extent permitted by applicable law, the Board or its designate may adopt any other eligibility rule, waiting period or
exclusion with respect to employees of the Company or any of its Subsidiaries, including, without limitation, any eligibility rule, waiting period or exclusion with respect to employees that do not consent, or withdraw their consent, to the
collection, processing, possession, use and transfer of their personal information necessary for implementing, administering and managing the Plan and calculating the cost of the Plan. 
  

	 	5.	Offering Periods and Maximum Offerings. 

 Except as otherwise set forth below, the Plan shall be implemented by sequential offerings (individually an “Offering”) of six (6) months’ duration (an “Offering Period”). Offering Periods shall
commence on each February 1 and August 1 and end on each July 31 and January 31. Notwithstanding the foregoing, the Board may establish a different term for one (1) or more Offerings and/or different commencing dates and/or
ending dates for such Offerings. The first day of an Offering Period shall be the “Offering Date” for such Offering Period. The last day of an Offering Period shall be the “Purchase Date” for such Offering Period.

 To the extent permitted by applicable law, and within the limitations of this Plan, the Board may set a maximum number or
value of Shares made available for purchase under the Plan with respect to one or more Offering Periods, or any sequential period of time spanning one or more Offering Periods, in one or more specific countries, locations, areas, or Participating
Companies (a “Maximum Offering”). 
  

	 1
	 This number was 6,000,000 at the time of Board approval and the current figure reflects a 2 for 1 stock split effective
July 14, 2006. 

  

 2 

	 	6.	Participation in the Plan. 

 (a)
Initial Participation. An eligible employee shall become a Participant on the first Offering Date after satisfying the eligibility requirements as provided in paragraph 4 above and delivering to the Company not later than the close of
business on the date seven (7) days prior to such Offering Date (the “Subscription Date”) a subscription agreement indicating the employee’s election to participate in the Plan and authorizing payroll deductions. An
eligible employee who does not deliver a subscription agreement to the Company on or before the Subscription Date shall not participate in the Plan for that Offering Period or for any subsequent Offering Period, unless such eligible employee
subsequently enrolls in the Plan by complying with the provisions of paragraph 4 above and by filing a subscription agreement with the Company on or before the Subscription Date for such subsequent Offering Period. The Company may, from time to
time, change the Subscription Date as deemed advisable by the Company in its sole discretion for proper administration of the Plan. 
 (b) Continued Participation. Participation in the Plan shall continue until (i) the Participant ceases to be eligible as provided in paragraph 4 above, (ii) the Participant withdraws from the Plan pursuant to paragraph 10
below, or (iii) the Participant terminates employment as provided in paragraph 11 below. At the end of an Offering Period, each Participant in such terminating Offering Period shall automatically participate in the first subsequent Offering
Period according to the same elections contained in the Participant’s subscription agreement effective for the Offering Period which has just ended, provided such Participant is still eligible to participate in the Plan as provided in paragraph
4 above. However, a Participant may file a subscription agreement with respect to such subsequent Offering Period if the Participant desires to change any of the Participant’s elections contained in the Participant’s then effective
subscription agreement. 
  

	 	7.	Purchase Price. 

 The purchase price
at which Shares may be acquired at the end of an Offering pursuant to the exercise of all or any portion of a Purchase Right granted under the Plan (the “Offering Exercise Price”) shall be set by the Board; provided, however, that
the Offering Exercise Price shall not be less than eighty-five percent (85%) of the lesser of (a) the fair market value of the Shares on the Offering Date or (b) the fair market value of the Shares on the Purchase Date. Unless
otherwise provided by the Board prior to the commencement of an Offering Period, the Offering Exercise Price shall be eighty-five percent (85%) of the lesser of (a) the fair market value of the Shares on the Offering Date or (b) the
fair market value of the Shares on the Purchase Date. For purposes of the Plan, the fair market value of Shares on the Offering Date or the Purchase Date shall be determined with reference to the last quoted price on the day of determination, on the
Swiss Exchange in the case of Shares or on The NASDAQ National Market of The Nasdaq Stock Market in the case of American Depositary Shares representing Shares. If an Offering Date or Purchase Date is not a trading day on the applicable securities
market, then the fair market value of Shares shall be determined with reference to the last quoted price on the last trading day preceding such Offering Date or Purchase Date. In the absence of any quotation on the Swiss Exchange or The NASDAQ
National Market, the fair market value of Shares shall be determined in good faith by the Board for the date of determination. The Board from time to time may use an exchange ratio of its choosing to determine the fair market value of Shares in a
currency other than Swiss francs or the fair market value of American Depositary Shares representing Shares in a currency other than U.S. dollars. 
  

 3 

	 	8.	Payment of Purchase Price. 

 (a)
Withholding or Other Payment Means. Shares that are acquired pursuant to the exercise of all or any portion of a Purchase Right for a given Offering Period may be paid for by means of payroll deductions from the Participant’s
Compensation accumulated during the Offering Period, or by such other means as the Board may designate with respect to one or more specific countries, locations, areas, or Participating Companies. For purposes of the Plan, a Participant’s
“Compensation” with respect to an Offering shall include all the amounts paid in cash and includable as “wages” subject to tax under the income tax laws of the Participant’s jurisdiction of residence; provided,
however, that each Participant may make an election in his or her subscription agreement (prior to the beginning of the applicable Offering) to exclude commissions, bonuses and overtime from the definition of “Compensation.” Accordingly,
“Compensation” may include, without limitation, base salaries, commissions, bonuses and overtime or may include only base salaries. “Compensation” shall not include reimbursements of expenses, allowances, or any amount deemed
received without the actual transfer of cash or any amounts directly or indirectly paid pursuant to the Plan or any other share purchase or share option plan. The amount of Compensation to be withheld from a Participant’s Compensation during
each pay period shall be determined by the Participant’s subscription agreement. 
 (b) Election to Decrease
Withholding. During an Offering Period, a Participant may elect to decrease the amount withheld from his or her Compensation by filing an amended subscription agreement with the Company on or before the Change Notice Date. The “Change
Notice Date” shall initially be the date fifteen (15) days prior to the end of the first pay period for which such election is to be effective; provided, however, that the Company may, from time to time, change such Change Notice Date.
A Participant may not elect to increase the amount withheld from the Participant’s Compensation during an Offering Period. 
 (c) Limitations on Payroll Withholding. The amount of payroll withholding with respect to the Plan for any Participant during any pay period shall be at least one percent (1%) but shall not exceed ten percent (10%) of the
Participant’s Compensation for such pay period. Amounts shall be withheld in whole percentages only. 
 (d) Payroll
Withholding. Payroll deductions shall commence on the first payday following the Offering Date and shall continue to the latest practicable day of the Offering Period, as determined by each Participating Company’s local human resources
department (the “Latest Practicable Date”), unless sooner altered or terminated as provided in the Plan. 
 (e) Participant Accounts. Individual accounts shall be maintained for each Participant. All payroll deductions from a Participant’s Compensation shall be credited to such account and shall be deposited with the general funds of
the Company. All payroll deductions received or held by the Company may be used by the Company for any corporate purpose. 
  

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 (f) No Interest Paid. Interest shall not be paid on sums withheld from a
Participant’s Compensation. 
 (g) Exercise of Purchase Right. On the Purchase Date of each Offering Period, each
Participant who has not withdrawn from the Offering or whose participation in the Offering has not terminated on or before such Purchase Date shall automatically acquire pursuant to the exercise of the Participant’s Purchase Right the number of
whole Shares arrived at by dividing the total amount of the Participant’s accumulated payroll deductions for the Offering Period by the Offering Exercise Price. The foregoing notwithstanding, no Participant shall purchase more than 25,000
Shares with respect to any Offering Period. No Shares shall be purchased on behalf of a Participant whose participation in the Offering or the Plan has terminated on or before the date of such exercise. 
 (h) Return of Cash Balance. The Company may provide that any cash balance remaining in the Participant’s account that is
attributable to a fractional share shall be retained by the Company and applied to the Participant’s account for the next Offering, provided that such balance shall, upon the written request of the Participant, be refunded to the Participant as
soon as practical after the last day of the Offering Period. 
 (i) Withholding. At the time the Purchase Right is
exercised, in whole or in part, or at the time some or all of the Shares are disposed of, the Participant shall comply with and make adequate provision for the tax withholding obligations of the Company, if any, which arise under applicable tax laws
upon exercise of the Purchase Right and/or upon disposition of the Shares. The Company may, but shall not be obligated to, withhold from the Participant’s Compensation the amount necessary to meet such withholding obligations. 
 (j) Company-Established Procedures. The Company may, from time to time, establish or change (i) a minimum required withholding
amount for participation in any Offering, (ii) limitations on the frequency and/or number of changes in the amount withheld during an Offering, (iii) an exchange ratio applicable to amounts withheld in a currency other than Swiss francs,
(iv) procedures through which stock of the Company may be deposited with a depositary and represented by American Depositary Shares (evidenced by American Depositary Receipts, where applicable), (v) payroll withholding in excess of or less
than the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of subscription agreements, (vi) the date(s) and manner by which the fair market value of the Shares is determined for
purposes of the administration of the Plan, and/or (vii) such other limitations or procedures as are deemed advisable by the Company in its sole discretion, if they are consistent with the Plan. 
 (k) Expiration of Purchase Right. Any portion of a Participant’s Purchase Right remaining unexercised after the end of the
Offering Period to which such Purchase Right relates shall expire immediately upon the end of such Offering Period. 
  

	 	9.	Insufficient Shares Available; Rights as a Shareholder. 

 (a) Allocation of Shares. In the event the number of Shares that might be purchased by all Participants in the Plan exceeds the number of Shares available in the Plan, the Company shall make a pro rata
allocation of the remaining Shares in as uniform a manner as 

  

 5 

 
shall be practicable and as the Company shall determine to be equitable. In the event the number or value of Shares which might be purchased by all
Participants in the countries, locations, areas or Participating Companies subject to a Maximum Offering exceeds the number or value of Shares of the Maximum Offering, the Company shall make a pro rata allocation of the Shares among such
Participants in as uniform a manner as shall be practicable and as the Company shall determine to be equitable. 
 (b)
Rights as a Shareholder and Employee. Except as set forth herein, a Participant shall have no rights as a shareholder by virtue of the Participant’s participation in the Plan until the date of the issuance of a certificate or
certificates in the Participant’s name pursuant to the exercise of the Participant’s Purchase Right. No adjustment shall be made for cash dividends or distributions or other rights for which the record date is prior to the Exercise Date.
Nothing herein shall confer upon a Participant any right to continue in the employ of a Participating Company or interfere in any way with any right of a Participating Company to terminate the Participant’s employment at any time. 

 

	 	10.	Withdrawal from the Plan. 

 A
Participant may withdraw from the Plan by signing a written notice of withdrawal on a form provided by the Company for such purpose and delivering such notice to the Company. In the event a Participant voluntarily elects to withdraw from the Plan,
the Participant may not resume participation in the Plan during the same Offering Period but may participate in any subsequent Offering under the Plan by again satisfying the requirements of paragraph 6 above. The Company may impose, from time to
time, a requirement that the notice of withdrawal be on file with the Company for a reasonable period prior to the effectiveness of the Participant’s withdrawal from the Plan. 
  

	 	11.	Termination of Employment. 

 Termination of a Participant’s employment with the Participating Companies for any reason, including the failure of a Participant to remain an employee eligible to participate in the Plan, prior to the Latest Practicable Date shall
terminate the Participant’s participation in the Plan and shall be treated as a withdrawal from the Plan. A Participant whose participation has been so terminated may again become eligible to participate in the Plan by again satisfying the
requirements of paragraphs 4 and 6 above. For purposes of the Plan, the employment relationship shall be treated as continuing intact (a) while the individual is on sick leave or other leave of absence approved by a Participating Company in
writing or (b) upon a transfer between locations of a Participating Company or from one Participating Company to another. 
 In the case of a leave of absence approved by a Participating Company in writing, the employment relationship shall be treated as terminated on the latest of (a) the 120th day of such leave of absence, (b) the earliest date when
employment may be considered terminated under applicable law or (c) the earliest date when employment may be considered terminated under a contract with the employee or, absent a contract, under the Participating Company’s leave of absence
policy. 
  

 6 

	 	12.	Repayment of Payroll Deductions. 

 In the event a Participant’s interest in the Plan or any Offering therein is terminated for any reason, the balance held in the Participant’s account shall be returned as soon as practical after such termination to the Participant
(or, in the case of the Participant’s death, to the Participant’s legal representative) and all of the Participant’s rights under the Plan shall terminate. Such account balance may not be applied to any other Offering under the Plan.
No interest shall be paid on sums returned to a Participant pursuant to this paragraph 12. 
  

	 	13.	Adjustments upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale. 

 (a) Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number of Shares available
for issuance under the Plan, as well as the price per Share and the number of Shares covered by each option under the Plan which has not yet been exercised, shall be proportionately adjusted for any increase or decrease in the number of issued
Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Shares, or any other increase or decrease in the number of Shares effected without receipt of full consideration by the Company;
provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of full consideration.” Such adjustment shall be made by the Board, whose determination in that
respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason
thereof shall be made with respect to, the number or price of shares subject to an option. 
 (b) Merger, Asset Sale or
Liquidation. Any other provision of the Plan notwithstanding, immediately prior to the effective time of a Corporate Reorganization, the Offering Period then in progress shall terminate and Shares shall be purchased pursuant to Section 8,
unless the Plan is continued or assumed by the surviving corporation or its parent corporation. The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, consolidation or
other reorganization. “Corporate Reorganization” shall mean (i) the consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, (ii) the sale, transfer or
other disposition of all or substantially all of the Company’s assets or (iii) the complete liquidation or dissolution of the Company. 
  

	 	14.	Non-Transferability. 

 A Purchase
Right may not be transferred in any manner otherwise than by will or the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the Participant. 
  

	 	15.	Reports. 

 Each Participant who
exercised all or part of the Participant’s Purchase Right for an Offering Period shall receive as soon as practical after the last day of such Offering Period a report of such Participant’s account setting forth the total payroll
deductions accumulated, the number of Shares purchased and the remaining cash balance to be refunded or retained in the Participant’s account pursuant to paragraph 8(h) above, if any. 
  

 7 

	 	16.	Plan Term. 

 This Plan was adopted
by the Board on, and is effective, June 15, 2006, and shall continue until the earlier of (i) the date the Plan is terminated by the Board or (ii) the date all of the Shares reserved for issuance under the Plan have been issued.

  

	 	17.	Restriction on Issuance of Shares. 

 Notwithstanding any other provision of the Plan to the contrary, any Purchase Right granted pursuant to the Plan shall be subject to obtaining all necessary governmental approvals and/or qualifications of the issuance of the Purchase Right.
The issuance of Shares pursuant to a Purchase Right shall be subject to compliance with all applicable requirements of applicable law with respect to such securities. The Purchase Right may not be exercised if the issuance of Shares upon such
exercise would constitute a violation of any applicable securities laws or other law or regulations. As a condition to the exercise of the Purchase Right, the Company may require the Participant to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. 
  

	 	18.	Legends. 

 The Company may at any
time place legends or other identifying symbols referencing any applicable securities law restrictions and any provision convenient in the administration of the Plan on any or all of the certificates representing Shares issued under the Plan. The
Participant shall, at the request of the Company, promptly present to the Company any and all certificates representing Shares acquired pursuant to a Purchase Right in the possession of the Participant in order to effectuate the provisions of this
paragraph. 
  

	 	19.	Transfer Restrictions. 

 The
Company, in its sole and absolute discretion, may impose such restrictions on the transferability of the Shares purchasable upon the exercise of a Purchase Right as it deems appropriate, and any such restriction shall be set forth in the respective
subscription agreement and may be referred to on the certificate or certificates evidencing such Shares. 
  

	 	20.	Shares Held by Nominee. 

 From time
to time, some or all of the Shares which are subject to the Plan may be held by Logitech Jersey, acting as a nominee. Upon the exercise of a Purchase Right in accordance with the provisions of the Plan, the Board shall instruct Logitech Jersey (if
it is then holding Shares) in due course to deliver the Shares to which such exercise relates against payment therefor and to issue all certificates and attestations, if any, required under applicable legislation. However, unless and until a
Participant advises the Company otherwise in writing, the Shares may continue to be held by Logitech Jersey as nominee for the Participant. Shares held by Logitech Jersey must be transferred out of Logitech Jersey to an account designated by the
Participant within three (3) months of the termination of the Participant’s employment relationship with a Participating Company. 
  

 8 

	 	21.	Termination or Amendment of the Plan. 

 The Board, including any duly appointed committee of the Board, may terminate or amend the Plan at any time; provided, however, that (a) such termination shall not affect Purchase Rights previously granted under the Plan except as
permitted by the Plan and (b) no amendment may adversely affect a Purchase Right previously granted under the Plan (except to the extent permitted by the Plan). 
  

 9 

 IN WITNESS WHEREOF, the undersigned President and
Chief Executive Officer of the Company certifies that the foregoing Logitech International S.A. 2006 Employee Share Purchase Plan (Non-U.S.) was duly adopted by the Board of Directors of the Company on the 15th day of June, 2006. 
  

	
	
	/S/ GERALD P. QUINDLEN
	Gerald P. Quindlen
	President & Chief Executive OfficerJack H. Webb Restricted Stock Agreement

 Exhibit 10.1 
 ALLIANCE FINANCIAL CORPORATION 
 RESTRICTED STOCK AGREEMENT 
 This sets forth the terms of the RESTRICTED STOCK AGREEMENT (“Agreement”), entered into as of the 27th day of January, 2009, by
and between ALLIANCE FINANCIAL CORPORATION (“Company”) and Jack H. Webb, an employee of the Company or one of its subsidiaries (“Grantee”). 
 TERMS 
 1. Definition of Terms. For purposes of this Agreement, all defined terms, as indicated by
the capitalization of the first letter of such term, shall have the meanings specified in the Alliance Financial Corporation 1998 Long Term Incentive Compensation Plan (“Plan”) to the extent not specified in this Agreement. 
 2. Restricted Stock Grant. Pursuant to the Plan and subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants
to the Grantee, and the Grantee accepts, 3,000 shares of Common Stock of the Company (“Restricted Stock”). 
 3.
Restrictions. The shares of Restricted Stock are awarded to the Grantee on the condition that the Grantee remain in the employment of the Company or its subsidiaries during the Forfeiture Periods described below. 
 a. The Forfeiture Period for all of the shares of Restricted Stock awarded pursuant to this Agreement shall expire on the seventh anniversary of the date
of this Agreement. If the foregoing date occurs on a date that is not a normal business day of the Company, the date shall be deemed to occur on the next ensuing normal business day of the Company. 
 b. During the Forfeiture Period, the shares of Restricted Stock may not be sold, exchanged, transferred, pledged, hypothecated, or otherwise disposed of,
and the Grantee agrees not to sell, exchange, transfer, pledge or otherwise dispose of any of such shares, or attempt to do so, during the Forfeiture Period. 
 4. Termination. Except as provided in paragraphs 4(a), (b), (c) and (d) below, if the Grantee’s employment with the Company (or its subsidiaries) terminates prior to the expiration of the
Forfeiture Period, the Grantee shall, on the date employment terminates, forfeit and surrender to the Company the number of shares of Restricted Stock with respect to which the Forfeiture Period is in effect on the date employment terminates.

 a. If the Grantee dies, or terminates employment with the Company (or its subsidiaries) because of disability, before the expiration of the
Forfeiture Period, the Forfeiture Period on the Restricted Stock granted pursuant to this Agreement shall expire on the date of death, or on the date that employment terminates because of disability, provided such date is not less than four years
subsequent to the date of this Agreement. If the date of death or disability is within four years of the date of this Agreement, the Board of Directors, in its sole discretion, may waive the Forfeiture Period as to any or all of the Restricted
Stock. 

 b. If the Grantee’s employment with the Company (or its subsidiaries) terminates prior to the
expiration of the Forfeiture Period as a result of the Grantee’s planned retirement in good standing, as determined by the Board of Directors in its sole discretion, the Forfeiture Period on the Restricted Stock granted pursuant to this
Agreement shall expire on the date of such approved planned retirement. 
 c. If the Grantee’s employment with the Company (or its
subsidiaries), or the successor of the Company (or its subsidiaries), terminates prior to the expiration of the Forfeiture Period as a result of a termination of the Grantee’s employment for “Good Reason” within 12 months after a
“Change of Control” of the Company, the Forfeiture Period on the Restricted Stock granted pursuant to this Agreement shall expire on the date of such termination. For purposes of this paragraph 4(c), “Good reason” and
“Change of Control” shall have the meanings below. 
 i. “Good Reason” shall mean a termination that is
the direct result of an involuntary and material change in the Grantee’s title, duties, responsibilities and/or total compensation and benefits from the Company (or its subsidiaries), or the successor of the Company (or its subsidiaries).

 ii. A “Change of Control” shall be deemed to have occurred if: 
 A. any “person,” including a “group” as determined in accordance with the Section 13(d)(3) of the Securities
Exchange Act of 1934 (“Exchange Act”), is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 30 percent or more of the combined voting power of the Company’s then outstanding securities;

 B. as a result of, or in connection with, any tender offer or exchange offer, merger or other business combination (a
“Transaction”), the persons who were directors of the Company before the Transaction shall cease to constitute a majority of the Board of Directors or the board of directors of any successor to the Company; 
 C. the Company is merged or consolidated with another corporation and as a result of the merger or consolidation less than 70 percent of
the outstanding voting securities of the surviving or resulting corporation shall then be owned in the aggregate by the former stockholders of the Company, other than (A) affiliates within the meaning of the Exchange Act, or (B) any party
to the merger or consolidation; 
 D. a tender offer or exchange offer is made and consummated for the ownership of securities
of the Company representing 30 percent or more of the combined voting power of the Company’s then outstanding voting securities; or 
 E. the Company transfers substantially all of its assets to another entity that is not owned or controlled by the Company. 

 d. Notwithstanding the forgoing, the Board of Directors shall have the authority at any time to
accelerate the time at which any or all or the restrictions set forth in this Agreement with respect to any or all shares of the Restricted Stock granted pursuant to under this Agreement shall expire. 
 5. Escrow. The certificate(s) of Restricted Stock granted to the Grantee shall be retained in escrow by the Company (or its designee) until the
expiration of the Forfeiture Period, at which time(s) certificate(s) without any restrictive legend affixed thereto shall be delivered by the Company (or its designee) to the Grantee. If shares of Restricted Stock are forfeited, the applicable
certificate(s) of Restricted Stock shall be canceled of record. 
 6. Incidents of Ownership. During the Forfeiture Period, the
Grantee shall have all the rights of a shareholder with respect to shares of Restricted Stock, including the right to vote such shares at any meeting of shareholders of Common Stock and the right to receive all dividends paid with respect to such
shares, subject, however, to the restrictions set forth in this Agreement. 
 7. Internal Revenue Code Section 83(b) Election.
The Grantee agrees, as a term and condition of receiving and accepting shares of Restricted Stock pursuant to this Agreement, not to make an election under Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to such
shares of Restricted Stock. If the Grantee or his legal representative makes such an election without the consent of the Company, all shares of Restricted Stock held by the Grantee or his legal representative at the time shall be forfeited and
canceled of record. 
 8. Adjustments. In the event of a reorganization, recapitalization, stock split, stock dividend, combination of
shares, merger, consolidation, rights offering, or any other change in the corporate structure or shares of the Company, the Board of Directors may make such adjustment equitably required in the number and kind of shares of Restricted Stock issued
pursuant to this Agreement. Such adjustment shall be final and binding on the Company and the Grantee. 
 9. No Right To Continued
Employment. This Agreement shall not confer upon the Grantee any right to continued employment with the Company (or its subsidiaries) nor shall it interfere, in any way, with the right of the Company to modify the Grantee’s compensation,
duties, and responsibilities, or the Company’s authority to terminate the Grantee’s employment. 
 10. Withholding. The
Company shall have the right to deduct any sums that federal, state or local tax laws require to be withheld upon the grant of Restricted Stock or upon the expiration of a Forfeiture Period. In the alternative, the Grantee may pay to the Company for
deposit with the appropriate taxing authority, any amounts that federal, state or local tax laws require to be withheld upon the grant of Restricted Stock or upon the expiration of a Forfeiture Period. 
 11. Notices. All notices and communications under this Agreement shall be in writing and shall be given by personal delivery or by registered or
certified mail, return receipt requested, addressed to the residence of the Grantee and to the principal office of the Company, or such other address as may be designated by the Company or the Grantee. Notice shall be deemed given upon personal
delivery or upon receipt. 

 12. Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of
the successors and assigns of the Company, and the heirs, successors and permitted assigns of the Grantee. 
 13. Governing Law. This
Agreement shall be construed in accordance with the laws of the State of New York. The Grantee agrees to accept as binding, conclusive and final all decisions and interpretations of the Board of Directors with respect to any questions that may arise
under the Plan and this Agreement. 
 14. Acknowledgments by Grantee. The Grantee acknowledges that the Grantee has been advised, and
that the Grantee understands, that: 
 a. This document constitutes part of a prospectus covering securities that have been registered under
the Securities Act of 1933; 
 b. the grant of Restricted Stock pursuant to this Agreement may be subject to, or may become subject to,
applicable reporting, disclosure and holding period restrictions imposed by Rule 144 under the Securities Act of 1933 and Section 16 of the Securities Exchange Act of 1934 (“Section 16”); and 
 c. shares could be subject to Section 16(a) reporting requirements as well as the short swing trading prohibition contained in Section 16(b)
which precludes any profit taking with respect to any stock transactions which occur within any six-month period. 
 The Company has caused
this Restricted Stock Agreement to be executed by its duly authorized officer, and the Grantee has executed this Agreement, both as of the day and year first written above. 
  

			
	ALLIANCE FINANCIAL CORPORATION
		
	By:	 	 /s/ Lowell A. Seifter

		 	Lowell A. Seifter
	Title:	 	Compensation Committee Chairman
	
	GRANTEE
	
	 /s/ Jack H. Webb
 Jack H. Webb

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