Description of Director Fee Arrangement for Fiscal Year 2014 – NBT Bancorp Inc. and NBT Bank, N.A.
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Summary
This document outlines the fees paid to outside directors of NBT Bancorp Inc. and NBT Bank, N.A. for their board and committee service in fiscal year 2014. Directors receive annual retainers, meeting fees, and, in some cases, restricted stock units. The amounts vary depending on the director's role, such as chair or committee chair, and the specific entity served. The arrangement specifies cash payments and stock units for different positions and meeting participation.
EX-10.23 4 ex10_23.htm EXHIBIT 10.23
Exhibit 10.23
Exhibit 10.23
Description of Arrangement for Directors Fees
Except as set forth below, the following sets forth the amount of fees payable to outside directors for their services as Directors in fiscal year 2014:
| | Restricted | |||||||
| Fees | Cash | Stock Units | ||||||
| Annual Retainer Fee | ||||||||
| Company: | ||||||||
| Chair | $ | 50,000 | $ | 54,000 | ||||
| Director | $ | 12,500 | $ | 13,000 | ||||
| NBT Bank N.A.: | ||||||||
| Chair | - | $ | 11,000 | |||||
| Director | $ | 12,500 | $ | 8,000 | ||||
| Committee Chair: | ||||||||
| Audit and Risk Management | $ | 10,000 | - | |||||
| All Other Committees | $ | 5,000 | - | |||||
| Affiliate Board Member | $ | 1,000 | - | |||||
| | ||||||||
| Fee per Board Meeting | $ | 1,000 | - | |||||
| | ||||||||
| Fee per Committee Meeting | $ | 800 | - | |||||
