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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.
 
 

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