Document:

EX-10.6

 EXHIBIT 10.6 
 AMENDMENT NO. 5 TO CREDIT AGREEMENT 
 This Amendment Agreement dated as of
November 21, 2011 (this “Amendment”) is made and entered into between M&T BANK CORPORATION (the “Borrower”) and CITIBANK, N.A. (the “Lender”). 

WITNESSETH 
 WHEREAS, the Borrower and the Lender entered into that certain Credit Agreement dated as of December 15, 2000 (the “Original Agreement”), as amended by (i) that certain
Amendment No. 1 dated as of December 9, 2003, (ii) that certain Amendment No. 2 dated as of January 30, 2009, (iii) that certain Amendment No. 3 dated as of December 4, 2009 and (iv) that certain
Amendment No. 4 dated as of December 3, 2010 (the Original Agreement, as so amended, being hereinafter referred to as the “Agreement”); 
 WHEREAS, by prior agreement between the Lender and the Borrower, the Commitment under the Agreement has been extended to not later than December 2, 2011; 

WHEREAS, the Borrower and the Lender desire to amend the Agreement in certain respects; 

NOW THEREFORE, in consideration of the premises and the mutual agreements, representations and warranties set forth herein, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agrees as follows: 
 SECTION 1. Definitions. Capitalized terms not otherwise defined herein shall have the meanings attributed thereto in the Agreement. 

SECTION 2. Amendments. 
 (a) The definition of “Applicable Facility Fee Rate” in Section 1.01 of the Agreement is amended and restated in full as follows: 

“Applicable Facility Fee Rate” means 0.125% per annum.” 

(b) The definition of “Commitment Termination Date” in Section 1.01 of the Agreement is amended and restated in full as
follows: 
 “Commitment Termination Date” means the day 364 days after December 2, 2011 or, in the event
that the Commitment is extended pursuant to Section 2.04(d), the date to which the Commitment is extended; provided, that if such day is not a 

  
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Business Day, the Commitment Termination Date shall be the immediately preceding Business Day.” 
 (c) The second sentence of Section 7.06 of the Agreement is amended and restated in full as follows: 
 “The Borrower hereby submits to the exclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York state court sitting in New York County for
purposes of all legal proceedings arising out of or relating to this Agreement or the transactions contemplated hereby.” 

SECTION 3. Representations True; No Default. On and as of the date hereof and on and as of the Effective Date (as defined below),
the Borrower represents and warrants to the Lender that: 
 (a) the representations and warranties contained in Article IV of
the Agreement are correct on and as of the date of this Amendment as though made on and as of such date; and 
 (b) no event has
occurred and is continuing, or would result from the execution and delivery of this Amendment, which constitutes a Default. 

SECTION 4. Legal Obligation. The Borrower represents and warrants to the Lender that this Amendment has been duly authorized,
executed and delivered on its behalf, and that the Agreement, as amended hereby, constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms. 

SECTION 5. Ratification. Except as amended hereby, the Agreement and all other documents executed in connection therewith
(including, without limitation, the Note) shall remain unchanged and in full force and effect. The Agreement, as amended hereby, and all rights and powers created thereby or thereunder and under such other documents, are in all respects ratified and
confirmed. 
 SECTION 6. Conditions Precedent. The amendments to the Agreement set forth in Section 2 hereof will
become effective on and as of the first date on which the Lender has received the following, each in form and substance satisfactory to the Lender (the “Effective Date”): 

(a) a counterpart of this Agreement duly executed by the Lender and the Borrower; 

(b) certified copies of all documents evidencing necessary corporate action and governmental and other third party approvals, if any,
with respect to this Amendment; 
 (c) a favorable written opinion of the Deputy General Counsel of the Borrower, covering such
matters relating to this Amendment as the Lender may require; 

  
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 (d) a certificate of the Borrower’s Corporate Secretary or Assistant Secretary
certifying the names and true signatures of the Borrower’s officers authorized to sign this Amendment; and 
 (e) evidence
of payment by the Borrower of all documented fees and expenses of the Lender, including the reasonable fees and expenses of counsel to the Lender, in connection with the negotiation, preparation, execution and delivery of this Amendment. 

SECTION 7. Miscellaneous. 
 (a) The Agreement and this Amendment shall be read, taken and construed as one and the same instrument. 
 (b) This Amendment shall be governed by, and construed in accordance with, the law of the State of New York. 
 (c) Any reference in the Agreement to “this Agreement”, “hereunder”, “herein” or words of like import, and each reference in any other document executed in connection with
the Agreement (including, without limitation, the Note) to “the Agreement”, “thereunder”, “therein” or words of like import, shall mean and be a reference to the Agreement as amended hereby. 

(d) This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which
when so executed shall be deemed an original and all of which when taken together shall constitute one and the same agreement. 

[Remainder of page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first written above. 
  

			
	M&T BANK CORPORATION
		
	By:	 	 /s/ Darlene Spychala

	Name:	 	Darlene Spychala
	Title:	 	Administrative Vice President

			
	CITIBANK, N.A.
		
	By:	 	 /s/ Robert B. Goldstein

	Name:	 	Robert B. Goldstein
	Title:	 	Managing Director2012-2014 Executive Performance Plan

 Exhibit 10.1 
 2012 – 2014 
 Executive Performance Plan 

Terms and Conditions 

Awards: The Performance Shares will be earned on the Vesting Date (as defined below) only to the extent that the performance goal
thresholds for the Performance Period are exceeded, with any unearned Performance Shares being forfeited without notice on the Vesting Date. The performance measures are internal growth for sales and operating profit over a three year period as
described in the 2012-2014 Executive Performance Plan Overview (the “Overview”). 
 Grant Date: February 17,
2012 
 Performance Period: The Company’s 2012-2014 fiscal years. 
 Vesting: Performance Shares are earned and vest on the Board meeting that occurs closest to the third anniversary of the grant date, which Board meeting shall occur in the same calendar year
as the third anniversary of the grant date, provided the Recipient remains continuously employed from the grant through such date (the “Vesting Date”), except as otherwise provided herein. Upon the death, Disability or Retirement of
a Participant prior to the Vesting Date, Performance Shares will continue to vest and such Participant will be eligible for a prorated award upon vesting. In such cases, the factor for proration will be calculated by dividing the total number of
days in the Performance Period by the number of days the employee was actively employed (including weekends, holidays and vacation during the period of active employment) during the Performance Period. For example, if a participant is actively
employed during the entire year of the first fiscal year of the performance period, but retires on the first day of the second fiscal year of the performance period, the pro-ration factor will be 33% calculated by dividing days actively employed
(365) by the total number of days in the performance period (1,095). Recipients will forfeit, without further notice and effective as of their date of termination any unvested Performance Shares if their employment terminates prior to the
Vesting Date for any reason other than death, Disability or Retirement. This EPP award will be forfeited if the participant is terminated, retired, on long-term disability, on a severance leave of absence or otherwise not an active employee on the
date of grant. 
 Change in Control: Notwithstanding the above, in the event of a Change in Control, all Performance Shares will
fully vest immediately as of the Change in Control and will be considered fully earned and will be payable at target promptly as practicable following the Change in Control if the awards have not been assumed or replaced by a Substitute
Award, as defined below. The Compensation Committee may adjust the Performance Shares earned to the extent the internal growth for sales and operating profit performance at that date exceeds the target specified in the Overview, but in no case will
the Performance Shares earned be less than the target. 
 An award will qualify as a Substitute Award (“Substitute Award”) if it is
assumed by any successor corporation, affiliate thereof, person or other entity, or replaced with awards that, solely in the discretionary judgment of the Company’s Compensation Committee preserves the existing value of the outstanding
Performance Shares at the time of the Change in Control and 

 
provide vesting, payout terms, performance goals and performance period, as applicable, that are at least as favorable to Participants as vesting, payout terms, performance goals and performance
period applicable to the Performance Shares (including the terms and conditions that would apply in the event of a subsequent Change in Control). 
 If and to the extent that Performance Shares are assumed by the successor corporation (or affiliate, person or other entity thereto) or are replaced with Substitute Awards, then all such Substitute Awards
thereof shall remain outstanding and be governed by their respective terms and the provisions of the applicable plan. 
 If the Performance
Shares are assumed or replaced with a Substitute Award and the participant’s employment with the Company is thereafter terminated by (i) the Company or successor, as the case may be, for any reason other than cause; or (ii) a
participant eligible to participate in the Kellogg Company Change of Control Severance Policy for Key Executives, for Good Reason (as defined in that Policy), in each case, within the two year period commencing on the date of the Change in Control,
then all Substitute Awards for that participant will fully vest immediately as of the date of such participant’s termination and will be considered fully earned and will be payable at target promptly as practicable following the termination of
employment. 
 Dividends: Dividends are not paid on Performance Shares. After the Performance Shares are vested and shares of the
Company’s Common Stock are deposited in a Merrill Lynch account for the Participant (net of taxes) soon after the Vesting Date, dividends will be paid prospectively on all shares of such Company’s Common Stock if and when declared by the
Board of Directors. 
 Voting: Performance Shares are not entitled to any voting rights. After the Performance Shares are vested
and shares of the Company’s Common Stock are deposited in a Merrill Lynch account for the Participant (net of taxes) soon after the Vesting Date, the Participant will be entitled to voting rights on such shares of the Company’s Common
Stock. 
 Taxes: Prior to the delivery of any shares of Company Common Stock in settlement of Performance Shares, the Company
shall have the power and right to deduct or withhold or require the Participant to remit to the Company an amount sufficient to satisfy any federal, state, local, or foreign taxes of any kind which the Company in its sole discretion deems necessary
to be withheld or remitted to comply with any applicable law, rule, or regulation. Participants will be deemed to have elected to pay the withholding taxes owed by allowing the Company to withhold shares on the Vesting Date (and delivering to the
Participant the net shares of the Company’s common stock) having a Fair Market Value equal to the amount sufficient to satisfy the Company’s minimum statutory withholding obligations. The Participant is responsible for paying
Participant’s taxes that result from the granting or vesting of the Performance Shares. Taxes include Federal taxes, social insurance or FICA taxes, and state and local taxes, or any other tax, if applicable. 

Administration: Soon after the Vesting Date, or the Change in Control, whichever is applicable, but in any event within the same calendar
year as the Vesting Date or the Change in Control, the number of net shares of the Company’s common stock earned will be deposited into a Merrill Lynch account. After the shares of common stock are deposited following the Vesting Date,
Participants can contact Merrill Lynch at 1-866-866-4050 or 1-609-818-8669 (outside of the U.S., Canada or Puerto Rico), or the Merrill Lynch Grand Rapids Office at 1-877-884-4371 or 1-616-774-4252 (outside the U.S., Canada or Puerto Rico) for
customer service. 

 Communication: Target awards will be communicated to Participants during the salary planning
communication in late February and early March, when other pay decisions such as market and performance adjustment, bonus and stock option award are communicated. Participants will receive confirmation of the actual number of Performance Shares
earned during the first quarter of the 2015 calendar year. 
 Registration: Upon the depositing of the shares in the Merrill Lynch
account, shares of the Company’s common stock will be registered in the Participant’s name. Participants can change the registration of the shares by calling Merrill Lynch. 
 Disposition at Vesting: After the shares of the Company’s common stock are deposited, Participants can leave the shares with Merrill Lynch, ask Merrill Lynch to sell the shares, have a
certificate issued to the Participant or have the shares electronically transferred to another broker. 
 Benefits: Income from
the Executive Performance Plan will not be included in earnings for the purposes of determining benefits, including pension, S&I, disability, life insurance and other survivor benefits. 
 Insiders: After the Performance Shares vest and the net shares of Company Common Stock are deposited, insiders cannot dispose of the shares of common stock without prior approval of the
Legal Department. 
 Clawback: If at any time (including after the vesting date but prior to payment) the Committee, including any
person authorized pursuant to Section 3.2 of the 2009 Long-Term Incentive Plan (the “Plan”) (any such person, an “Authorized Officer”), reasonably believes that you have committed an act of misconduct as described in this
Section, the Committee or an Authorized Officer may suspend your right to participate in the Executive Performance Plan pending a determination of whether an act of misconduct has been committed. If the Committee or an Authorized Officer determines
you have engaged in any activity that is contrary or harmful to the interest of the Company or any of its subsidiaries, including, but not limited to, (i) conduct relating to your employment for which either criminal or civil penalties against
you may be sought, (ii) breaching your fiduciary duty or deliberately disregarding any of the Company’s (or any of its subsidiaries’) policies or code of conduct, (iii) violating the Company’s insider trading policy,
(iv) accepting employment with or serving as a consultant, advisor, or in any other capacity to an entity or person that is in competition with or acting against the interests of the Company or any of its subsidiaries, (v) directly or
indirectly soliciting, hiring, or otherwise encouraging any present, former, or future employee of the Company or any of its subsidiaries to leave the Company or any of its subsidiaries, (vi) disclosing or misusing any confidential information
or material concerning the Company or any of its subsidiaries, or (vii) participating in a hostile takeover attempt of the Company, then the grant of performance shares under the Plan and all rights thereunder shall terminate immediately
without notice effective the date on which you perform such act of misconduct, unless terminated sooner by operation of another term or condition of this award or the Plan. In addition, if the Committee determines that you engaged in an act of fraud
or intentional misconduct during your employment that caused the Company to restate all or a portion of the Company’s financial statements (“Misconduct”), you 

 
may be required to repay to the Company, in cash and upon demand, any payment in shares under the EPP made during the plan year of the misstatement. The return of EPP payment is in addition to
and separate from any other relief available to the Company due to your Misconduct. For anyone who is an executive officer for purposes of Section 16 of the Exchange Act, the determination of the Committee shall be subject to the approval of
the Board of Directors. 
 The rights contained in this section shall be in addition to, and shall not limit, any other rights or remedies that
the Company may have under law or in equity, including, without limitation, (i) any right that the Company may have under any other Company recoupment policy or other agreement or arrangement with a Participant, or (ii) any right or
obligation that the Company may have regarding the clawback of “incentive-based compensation” under Section 10D of the Securities Exchange Act of 1934, as amended (as determined by the applicable rules and regulations promulgated
thereunder from time to time by the U.S. Securities and Exchange Commission). 
 Other Plan Provisions: The 2012-2014 Executive
Performance Plan was adopted under the Plan and is subject to all the provisions of the Plan, including those related to the ability of the Board of Directors to amend the Plan, the Executive Performance Plan or any awards thereunder. Nothing in
this summary, the Overview, or the Plan shall confer upon the Participant any right of continued employment. Capitalized terms not defined herein shall have the meaning given such term in the Plan. 

This plan summary is subject to the actual plan document and any additional terms and conditions as determined by the Compensation Committee of the Board
of Directors. 
 Issued February 2012

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