Description of Director Fee Arrangement for Fiscal Year 2013 – 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 2013. Directors receive annual retainers, restricted stock units, and additional fees for serving as chairpersons or attending meetings. The arrangement specifies different compensation amounts for company and bank directors, committee chairs, and affiliate board members. The agreement ensures directors are compensated for their time and responsibilities throughout the year.
EX-10.21 3 ex10_21.htm EXHIBIT 10.21 ex10_21.htm
EXHIBIT 10.21
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 2013:
| 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 | - | |||||
