Description of Arrangement for Directors Fees

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