Description of Arrangement for Directors Fees
EX-10.23 3 ex10_23.htm EXHIBIT 10.23 ex10_23.htm
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 of NBT Bancorp for their services as Directors in fiscal year 2011:
| Event | Fee | |
| Annual retainer | Cash (Chairman) - $50,000 | |
| Cash (Member) - $20,000 | ||
| Cash (Chair) Audit and Risk Management Committee - $10,000 | ||
| Cash (Chairs) Other Committees - $7,500 | ||
| Restricted Stock (Member) - $20,000 | ||
| Restricted Stock (Chairman) - $50,000 | ||
| Board meeting attended | Cash (Member) - $1,000 per meeting | |
| Cash (Chairman) - $1,000 per meeting | ||
| Telephonic board meeting | Cash (Member) - $1,000 per meeting | |
| Cash (Chairman) - $1,000 per meeting | ||
| Committee meeting attended * | Cash (Member) - $600 per meeting | |
| Cash (Chairman) - $600 per meeting | ||
| Telephonic committee meeting * | Cash (Member) - $600 per meeting | |
| Cash (Chairman) - $600 per meeting |
* Audit and Risk Management Committee members and Chairman receive $750 per meeting attended.
