Unassociated Document


    
      

    

    Exhibit
10.26

    


    SECOND
AMENDMENT TO

    THE
SUPPLEMENTAL EXECTIVE RETIREMENT AGREEMENT

    EFFECTIVE
JULY 23, 2001

    


    


    WHEREAS,
this is the second amendment (the “Second Amendment”) to the NBT Bancorp Inc.
Supplemental Executive Retirement Plan, effective as of July 23, 2001, and as
amended on January 20, 2006 (the “SERP”);

    


    WHEREAS,
the SERP, as amended, is between NBT Bancorp Inc., a Delaware
corporation and a registered financial holding company headquartered at 52 S.
Broad Street, Norwich, New York 13815, and Martin A. Dietrich, an
individual residing at 122 Serenity Drive, Norwich, New York,
13815;

    


    NOW,
THEREFORE, the SERP is amended, effective as of January 1, 2005, as
follows:

    


    1.         
   Section 7.1 of the SERP shall be amended by deleting the
second paragraph therein in its entirety.

    


    2.     
       Section 7.2 of the SERP shall be
amended by deleting the phrase “Except with respect to receipt of a lump sum
benefit under Section 7.1,” in the section’s first sentence.  The
first sentence in Section 7.2 of the SERP shall now begin with the words “Any
election for an optional mode ...”

    


    3.       
     Section 7.3 of the SERP shall be amended by
deleting this section in its entirety and replacing it with the
following:

    


    “Payment
of any Retirement Income Benefit and 401(k)/ESOP Benefit under the Plan shall
not commence on a date before the first day of the seventh (7th) month
following the Participant’s “separation from service” with the Company as that
phrase is defined for purposes of section 409A of the Code.”

    


    4.        
    Section 7.4 of the SERP shall be amended by deleting the
period at the end of subsection (b) therein and replacing it with a comma,
followed by the word “and”; and by adding a new subsection (c) to read as
follows:

    


    “(c)           notwithstanding
anything herein to the contrary, no Supplemental Retirement Benefit shall
commence under this Plan before the date which is the seventh (7th) month
following the Participant’s “separation from service” with the Company as that
phrase is defined for purposes of section 409A of the Code.”


    
      
         


      

      
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    5.       
     Section 7.5(c) of the SERP shall be amended by
deleting this subsection in its entirety.

    
 

    6.       
     In all other respects the Plan shall remain in
full force and effect.

    


    


    
      
        
          
            
              
                	
                        NBT
      BANCORP INC.

                      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                        By:

                      	
                        /s/ Michael J. Chewens

                      	      
                         

                      	      
                              
                          Date:
      November 13, 2008

                        

                      
	 
      	
                        Michael
      J. Chewens

                      	 
      	 
      
	 
      	
                        Senior
      Executive Vice President

                      	 
      	 
      
	 
      	
                        and
      Chief Financial Officer

                      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                        By:

                      	
                        /s/ Martin A. Dietrich

                      	      
                         

                      	      
                              
                          Date:
      November 13, 2008

                        

                      
	 
      	
                        Martin
      A. Dietrich

                      	 
      	 
      


              

            

          

        

      

    

     

     

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