NBT Bancorp 2010 Outside Directors Fee Arrangement
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Summary
This document outlines the compensation structure for outside directors of NBT Bancorp for the 2010 fiscal year. It specifies annual retainers, meeting fees, and restricted stock awards for both members and chairpersons of the board and its committees. Directors receive cash and restricted stock as part of their compensation, with additional payments for attending or participating in board and committee meetings, including telephonic meetings. The arrangement details different fee amounts based on the director's role and the type of meeting attended.
EX-10.23 4 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 2010:
| Event | Fee |
| Annual retainer | Cash (Chairman) - $50,000 Cash (Member) - $12,500 Cash (Chair) Audit and Risk Management Committee - $10,000 Cash (Chairs) Other Committees - $7,500 Restricted Stock (Member) - $12,500 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 |
