Most executive officers at M&T Bank Corp. are taking pay cuts for 2010 and none will receive cash bonuses as part of their compensation packages, according to a U.S. Securities & Exchange filing Jan. 25.

The changes in executive compensation structure stem from requirements under the federal government’s Troubled Asset Relief Program. As a TARP recipient, M&T executives’ compensation packages, including cash bonuses and equity-based incentive pay, have certain restrictions.

As such, M&T Chairman and CEO Robert Wilmers is taking a $550,000 pay cut for 2010, the filing shows. He will earn $2.1 million in total compensation, down from $2.6 million in 2009. The revised package combines a salary of $650,000, stock salary of $1.1 million and a TARP-restricted stock award of $350,000.

Pay details for other executives:

• Bank President Mark Czarnecki and vice Chairman Michael Pinto will each earn $2 million, including a $550,000 salary, stock worth $1 million and a TARP-restricted award of $450,000. Both men last year earned $2.2 million.

• Kevin Pearson, executive vice president, will receive $1.3 million, including a $500,000 salary, stock worth $550,000 and a restricted award of $330,000. Last year, Pearson’s compensation package totaled $1.4 million.

Meanwhile, Rene Jones, executive vice president and CFO, is the only executive to get a pay raise. He will $1.2 million this year, up from $1.1 million in 2009.

The restricted stock in all packages does not fully vest until 2014.

M&T is the 11th largest bank in Albany. with 14 branches and $721 million in deposits.

To date, the bank has not paid back the TARP money. It says it will do so when it makes economic sense for the bank.