Document:

EXHIBIT 10.19
    Severance Agreement and Mutual General Release between NBT Bancorp Inc.
                             and John G. Martines.

<PAGE>

                 SEVERANCE AGREEMENT AND MUTUAL GENERAL RELEASE

         This is a Severance Agreement and Mutual General Release ("Agreement")
between NBT  Bancorp,  Inc.  ("NBTB")  and John G.  Martines  ("Executive").  In
consideration of the mutual promises and commitments made herein,  and intending
to be legally bound hereby, NBTB and Executive agree as follows:

         1. Effective at 11:59p.m. on January 26, 2001, Executive has elected to
retire  and  resign  voluntarily  from all  positions  he holds as an officer of
NBTB's  Pennsylvania  banking  operations,  which is (or will be) doing business
under the name of Pennstar Bank,  N.A., and in accordance with the provisions of
his  employment   agreement,   dated  February  17,  2000.   Executive   further
acknowledges  that, as a result of his retirement,  his employment  relationship
with NBTB and Pennstar Bank will be permanently and irrevocably severed and that
NBTB and Pennstar Bank will have no  obligation,  contractual  or otherwise,  to
rehire or reinstate him after January 26, 2001.

         2. NBTB and Executive agree that the Executive may continue,  after his
retirement,  to serve as a  director  on the  Boards  of  Directors  of NBTB and
Pennstar  Bank,  N.A.  Furthermore,  after the  effective  date of the merger of
Pennstar Bank,  N.A. with and into Nystar Bank,  N.A.,  NBTB and Executive agree
that the Executive may continue as the Chairman and a director of Pennstar Bank,
which will be the Pennsylvania division of Nystar Bank, N.A. Executive shall not
be entitled to receive directors' fees for such service.

         3.  NBTB  agrees  to pay  Executive  by wire  transfer  in  immediately
available  funds to an account  designated  by  Executive on January 26, 2001 or
seven (7) days after  execution  of this  Agreement by  Executive,  whichever is
later, the following:

         A.       one million two hundred thousand dollars ($1,200,000); and
         B.       an amount equal to Executive's normal bonus payout under his
                  existing employment agreement for the calendar year
                  2000, if not received prior to January 26, 2001.

         Furthermore,  NBTB will transfer title to the automobile currently used
by  Executive  on January  26,  2001 or seven (7) days after  execution  of this
Agreement by Executive, whichever is later.

         Executive  will also be entitled  to receive no later than  January 26,
2001,  a grant of stock  options  pursuant to the NBT Bancorp,  Inc.  1993 Stock
Option Plan in accordance with his existing employment agreement.

         4. Executive acknowledges and agrees that, except for the payment under
paragraphs 3A and 3B, he is responsible  for the payments of all federal,  state
and local estimated quarterly income tax payments for the blue-book value of the
automobile as determined by NBTB.

         5. Nothing in this Agreement shall affect Executive's vested portion of
his  account  in NBTB's  employee  benefit  and  retirement  programs.  NBTB and
Executive agree that the terms and provisions of Executive's  current employment
agreement shall remain in full force and effect up to and including  January 26,
2001,  except that Executive  agrees to renounce any right to the payment of any
salary to him for the period from January 1 to January 26, 2001 and any vacation
accrual that may be earned for the  calendar  year 2001 and in exchange for such
renouncement,  NBTB shall award the  Executive on December  31,  2000,  eighteen
additional vacation days to be used by the Executive in January 2001. NBTB shall
pay the Executive for these  vacation days at his current rate of  compensation.
Executive specifically  acknowledges that his current employment agreement shall
be null and void as of January 27, 2001.

         6. In consideration for NBTB's commitments hereunder,  Executive hereby
remises,  releases and forever  discharges NBTB and each and all of its past and
present subsidiaries, parent and related corporations,  companies and divisions,
and its past and present directors,  trustees, officers, managers,  supervisors,
employees, attorneys, and agents, and their predecessors, successors and assigns
(referred to  collectively in this Agreement as  "Releasees"),  from any and all
claims,  debts,  agreements,   complaints  or  causes  of  action  (hereinafter,
collectively, "claims"), whether known or unknown, that he ever had, now has, or
hereafter can, shall or may have against any or all of the Releasees, for, upon,
or by reason of any cause,  matter,  thing or event whatsoever  occurring at any
time from the date of  Executive's  birth up to and including  January 26, 2001.
Executive  acknowledges  and understands  that the claims being released in this
paragraph include, but are not limited to: (i) any claim based on contract or in
tort or common law; (ii) any claim based on or arising under any civil rights or
employment  discrimination  laws,  such as the  Federal  Age  Discrimination  in
Employment Act (29 U.S.C. ss. 621 ET SEQ.) (hereinafter,  "ADEA"),  Title VII of
the Civil Rights Act of 1964 (42 U.S.C.  ss. 2000e ET seq.), or the Pennsylvania
Human  Relations  Act (42 P.S.  ss.  951 ET SEQ.);  (iii) any claim  based on or
arising under any employment related law, such as the Employee Retirement Income
Security Act of 1974, as amended (29 U.S.C.  ss. 301 ET SEQ.), the Equal Pay Act
(29 U.S.C. ss. 201 ET SEQ.), the Americans With  Disabilities Act (42 U.S.C. ss.
12101 ET SEQ.),  the Family and Medical Leave Act (29 U.S.C.  ss. 2601 ET SEQ.),
or the Fair Labor  Standards Act, as amended (29 U.S.C.  ss. 201 ET SEQ.);  (iv)
any claim based on or arising out of Executive's employment by NBTB and Pennstar
Bank and their  predecessors  and/or his  resignation  therefrom  including  any
claims  pursuant to his employment  agreement  dated February 17, 2000; and (iv)
any claims  for  compensatory,  liquidated  or  punitive  damages,  damages  for
emotional distress,  back pay, front pay, and benefits.  In addition,  effective
upon  the  eighth  day  following  execution  of this  Agreement  by  Executive,
Executive shall have hereby waived any and all claims, whether known or unknown,
that he ever  had,  now has,  or  hereafter  can,  shall or may have  under  the
Change-in-Control  Agreement,  as  that  term  is  defined  in  the  Executive's
employment  agreement dated February 17, 2000.  Executive  understands  that, by
signing this  Agreement,  he waives all claims he ever had, now has, or may have
against  any of the  Releasees.  NBTB does  hereby  remise,  release and forever
discharge  Executive  from any and all claims,  debts,  agreements,  complaints,
liabilities,  payments,  accountings,  actions and causes of action, whatsoever,

<PAGE>

whether  known  or  unknown,  at the  date  and  time  Executive  executes  this
Agreement,  that NBTB does, shall or might have against Executive,  for, upon or
by reason of any cause,  matter, thing or event whatsoever occurring at any time
from  the  date of  Executive's  birth  to and  including  the  date and time he
executes  this  Agreement.  NBTB  understands  that,  by the  execution  of this
Agreement  by an  authorized  officer,  NBTB waives all claims it ever had,  now
have,  or may have  against  Executive,  including,  but not limited to,  claims
arising  out of his  employment  prior to the date  and  time he  executes  this
Agreement.  This  release  does not apply to the  requirements  and  obligations
contained within this Agreement.  Furthermore,  Executive  specifically reserves
his  right  to  proceed  against  NBTB  under  Subsection  3(d)  of  Executive's
employment agreement dated February 17, 2000.

         7. If all or any portion of the amounts payable to Executive under this
Agreement,  either alone or together with other payments which Executive has the
right to receive from NBTB,  constitute  "excess parachute  payments" within the
meaning of Section 280G of the  Internal  Revenue Code of 1986 (the "Code") that
are  subject  to the excise  tax  imposed  by  Section  4999 of the Code (or any
successor  sections),  NBTB shall increase the amounts payable  hereunder to the
extent  necessary to place Executive in the same after-tax  position as he would
have been in had no such excise tax been imposed on the payments hereunder.  The
determination  of the  amount  of any  such  excise  taxes  shall be made by the
independent accounting firm retained by NBTB.

         If at a later date it is determined  (pursuant to final  regulations or
published rulings of the Internal Revenue Service ("IRS"), assessment by the IRS
or  otherwise)  that the amount of excise taxes  payable by Executive is greater
than the amount initially so determined, then NBTB shall pay Executive an amount
equal to the sum of (A) such  additional  excise  taxes,  plus (B) any interest,
fines and penalties with respect to such additional  excise taxes,  plus (C) the
amount  necessary to reimburse  Executive for any income,  excise or other taxes
payable by Executive with respect to the amounts  specified in (A) and (B) above
and the reimbursement provided by this clause (C).

         8.  Executive  further  covenants  and  agrees  not to  sue  any of the
Releasees  for any claims  released  hereunder,  nor to assert  any such  claims
against  any of the  Releasees  for any  purpose.  Any claim for a breach of any
provision  of this  Agreement  may be remedied  only by a lawsuit to enforce the
Agreement and will not invalidate any party's release of claims.

         9. Executive agrees that the terms of this Agreement are  confidential,
and that he will not  disclose or publicize  the terms of this  Agreement or the
amounts  paid or agreed to be paid  pursuant to this  Agreement to any person or
entity, except to his attorney or accountant,  or to a government agency for the
purposes of the payment or collection of taxes or application  for  unemployment
compensation.  NBTB agrees that the terms of this Agreement are confidential and
they will not  knowingly  disclose  or  publicize  (or  knowingly  permit  their
employees to disclose or  publicize)  the terms of this  Agreement or the amount
paid pursuant to this  Agreement to any person or entity except their  officers,
directors, attorneys or accountants, or to a government agency or representative
thereof;  provided,  however,  that  NBTB  does not  guarantee  that none of its
employees  will not  make  any such  disclosure  or  publication;  and  provided

<PAGE>

further, that NBTB reserves the right to disclose the terms of this Agreement in
any  filing  required  under  the rules and  regulations  promulgated  under the
Securities  Exchange  Act of  1934 by the  Securities  and  Exchange  Commission
("SEC") if, in the opinion of NBTB's counsel,  such disclosure is required under
such rules and regulations of the SEC.

         10. All executed  copies of this Agreement,  and  photocopies  thereof,
shall  have the same  force and  effect  and  shall be as  legally  binding  and
enforceable as the original.

         11. All provisions of this Agreement are severable,  and if any of them
is  determined  to be invalid or  unenforceable  for any reason,  the  remaining
provisions and portions of this Agreement shall be unaffected  thereby and shall
remain in full force to the fullest extent permitted by law.

         12.  This  Agreement  is binding on  Executive  and on his  successors,
administrators, heirs and assigns, and inures to the benefit of each of NBTB and
the   Releasees   and  their   successors,   predecessors,   heirs,   executors,
administrators or assigns, as the case may be.

         13.  Executive  acknowledges  that he has been advised of his rights to
consult  with an attorney  before  signing this  Agreement  and that he has been
encouraged  to do so.  Consequently,  he has  been  represented  by  independent
counsel in this matter.

         14. Executive makes the following  additional  representations to NBTB,
each  of  which  is  significant  and  an  important  consideration  for  NBTB's
willingness to enter into the Agreement:

                  A.       Executive expressly acknowledges that if he did not
execute the Agreement, he would not be entitled to receive the money set forth
in paragraph 3 A.

                  B.  Executive  acknowledges  that he has been given a full and
fair  opportunity to review the Agreement.  NBTB  specifically  recommended that
Executive  consult with an attorney before  executing the Agreement,  and he has
been  allowed  up to  twenty-one  (21) days to  consider  whether  to accept the
Agreement.  Executive acknowledges that he is signing this Agreement voluntarily
and of his own free will, with full knowledge of the nature and  consequences of
its terms.

                  C. Executive  understands that he may change his mind, and not
retire and revoke the  Agreement  at any time during the seven (7) days after he
signs the Agreement,  provided he does so in writing,  in which case none of the
provisions of the Agreement will have any effect.  Executive understands that he
will not be entitled to receive any payments under the Agreement until the seven
(7) day revocation period has expired without revocation of the Agreement.

         15. By entering into this Agreement, NBTB does not admit that it or any
of its employees  violated any law or any legal right of Executive and, in fact,
NBTB expressly denies liability. NBTB is entering into this Agreement solely for

<PAGE>

the  purpose of  effectuating  a mutually  satisfactory  retirement  benefit for
Executive and,  therefore,  termination of his positions,  as an officer of NBTB
and the Pennstar Bank.

         16. By entering into this Agreement, neither Executive, nor NBTB admits
that he or they, or any of their  employees,  violated any law or legal right of
the other,  and,  in fact,  Executive,  and NBTB  expressly  deny  liability  or
responsibility.  They are entering into this Agreement solely for the purpose of
effectuating a mutual satisfactory severance of Executive's employment with, and
termination of his positions as an officer of NBTB.

         17. NBTB and Executive agree that this Agreement will have no force and
effect,  unless and until NBTB and Executive enter into the Consulting Agreement
as set forth at Exhibit A to this Agreement.

         18. The Agreement and all acts and transactions  contemplated hereunder
shall be governed,  construed and interpreted in accordance with the laws of the
Commonwealth of Pennsylvania, without regard to principles of conflict of laws.

         19. Each party shall be responsible for its own attorneys' fees.

         20. This is the  complete and final  agreement  between the parties and
supersedes  all  prior  or   contemporaneous   agreements,   employment  offers,
negotiations or retirement discussions with respect to such subject matters with
the specific exception the Consulting Agreement set forth at Exhibit A hereto.

                                           NBT BANCORP, INC.

By:   /S/ John G. Martines            By:  /S/ Daryl R. Forsythe
      John G. Martines                     Daryl R. Forsythe,
                                           President and Chief Executive Officer
      Date:  October 17, 2000              Date:  October 17, 2000

<PAGE>EXHIBIT 10.20
             Severance Agreement and Mutual General Release between
                       NBT Bancorp Inc. and Joe C. Minor.

<PAGE>
                 SEVERANCE AGREEMENT AND MUTUAL GENERAL RELEASE

         This is a Severance Agreement and Mutual General Release ("Agreement")
between  NBT  Bancorp,  Inc.  ("NBTB")  and  Joe  C.  Minor  ("Executive").   In
consideration of the mutual promises and commitments made herein,  and intending
to be legally bound hereby, NBTB and Executive agree as follows:

         1. Effective at 11:59p.m. on January 26, 2001, Executive has elected to
retire  and  resign  voluntarily  from all  positions  he holds as an officer or
director or both of NBTB or its subsidiaries and affiliates, as the case may be,
and in accordance with the provisions of his employment agreement, dated January
1, 2000. Executive further acknowledges that, as a result of his retirement, his
employment  relationship  with NBTB will be permanently and irrevocably  severed
and that NBTB will have no obligation,  contractual  or otherwise,  to rehire or
reinstate him after January 26, 2001.

         2. NBTB  agrees  to  purchase,  or will  arrange  for a third  party to
purchase,  the  Executive's  residence  at One Wales  Drive,  Norwich,  New York
("Wales  Property")  at a purchase  price equal to: the value  delineated  in an
appraisal  prepared by an appraiser selected by NBTB from the list of appraisers
maintained by NBT Bank,  National  Association  or the value of the  Executive's
investment  in the  Wales  Property,  whichever  value is  greater.  After  such
purchase,  NBTB or the third party purchaser,  as the case may be, will agree to
lease the Wales Property to the Executive at a mutually agreed upon rental rate,
on a  month-to-month  term,  for as long  as the  Executive  chooses;  provided,
however,  that this month-to-month  rental arrangement shall terminate within 12
months of the date of this Agreement.

         3.  NBTB  agrees  to pay  Executive  by wire  transfer  in  immediately
available  funds to an account  designated  by  Executive on January 26, 2001 or
seven (7) days after  execution  of this  Agreement by  Executive,  whichever is
later, the following:

         A.       one million two hundred thousand dollars ($1,200,000); and
         B.       an amount equal to Executive's normal bonus payout under his
                  existing employment agreement for the calendar year
                  2000, if not received prior to January 26, 2001.

         Furthermore,  NBTB will transfer  title to the  automobile and personal
laptop  computer  currently  used by  Executive on January 26, 2001 or seven (7)
days after  execution of this  Agreement by Executive,  whichever is later,  and
will  continue  in force  the  medical  health  insurance  benefit  program  for
Executive and on a self-paid  basis for dependents of Executive,  subject to any
COBRA provisions, that is in effect on January 26, 2001, until Executive reaches
the age of sixty-two (62) years.

         Executive  will also be entitled  to receive no later than  January 26,
2001,  a grant of stock  options  pursuant to the NBT Bancorp,  Inc.  1993 Stock
Option Plan in accordance with his existing employment agreement.

                                      -2-
<PAGE>

         4.  Executive  acknowledges  and agrees  that,  except for the payments
under paragraphs 3A and 3B (which are subject to the normal withholding  rules),
he is  responsible  for the payments of all federal,  state and local  estimated
quarterly income tax payments for the blue-book value of the automobile and used
value of the laptop computer as determined by NBTB.

         5. Nothing in this Agreement shall affect Executive's vested portion of
his  account  in NBTB's  employee  benefit  and  retirement  programs.  NBTB and
Executive agree that the terms and provisions of Executive's  current employment
agreement shall remain in full force and effect up to and including  January 26,
2001,  except that Executive  agrees to renounce any right to the payment of any
salary to him for the period from January 1 to January 26, 2001 and any vacation
accrual that may be earned for the  calendar  year 2001 and in exchange for such
renouncement,  NBTB shall award the  Executive,  on December 31, 2000,  eighteen
additional vacation days to be used by the Executive in January 2001. NBTB shall
pay the Executive for these  vacation days at his current rate of  compensation.
Executive specifically acknowledges that this current employment agreement shall
be null and void as of January 27, 2001.

         6.A.  Executive  acknowledges that certain business  methods,  creative
techniques, and technical data of NBTB, its subsidiaries, and its affiliates and
the  like  are  deemed  by  NBTB to be and  are in  fact  confidential  business
information  of NBTB,  its  subsidiaries  or its  affiliates or are entrusted to
third  parties.  Such  confidential  information  includes but is not limited to
procedures, methods, sales relationships developed while in the service of NBTB,
its   subsidiaries  or  its   affiliates,   knowledge  of  customers  and  their
requirements,  marketing plans, marketing information,  studies,  forecasts, and
surveys,  competitive  analyses,  mailing  and  marketing  lists,  new  business
proposals, lists of vendors,  consultants,  and other persons who render service
or  provide  material  to  NBTB,  its  subsidiaries  or  their  affiliates,  and
compositions,  ideas,  plans, and methods belonging to or related to the affairs
of NBTB, its  subsidiaries,  or their affiliates.  In this regard,  NBTB asserts
proprietary  rights  in  all  of  its  business  information  and  that  of  its
subsidiaries  or  affiliates,  except for such  information as is clearly in the
public  domain.  Notwithstanding  the  foregoing,   information  that  would  be
generally known or available to persons  skilled in Executive's  fields shall be
considered  to be  "clearly  in the  public  domain"  for  the  purposes  of the
preceding sentence. Executive agrees that he will not disclose or divulge to any
third  party,  except  as may be  required  by his  duties  hereunder,  by  law,
regulation, or order of a court or government authority, or as directed by NBTB,
nor shall he use to the detriment of NBTB, its  subsidiaries,  or its affiliates
or use  in any  business  or on  behalf  of any  business  competitive  with  or
substantially  similar  to any  business  of NBTB,  its  subsidiaries,  or their
affiliates any confidential  business  information obtained during the course of
his employment with NBTB, its  subsidiaries  or affiliates.  The foregoing shall
not be construed as restricting  Executive from disclosing  such  information to
the employees of NBTB, its subsidiaries, or their affiliates.

         B.  Executive  hereby  agrees that from January 27, 2001 to January 26,
2003,  Executive will not (i) engage in the business activities that NBTB or any
of its  subsidiaries  and affiliates  are engaged in on January 27, 2001,  other

                                      -3-
<PAGE>

than on behalf of NBTB, its subsidiaries or their  affiliates  within the Market
Area (as hereinafter defined); (ii) directly or indirectly own, manage, operate,
control,  be employed by, or provide  management or  consulting  services in any
capacity  to any firm,  corporation,  or other  entity  (other  than  NBTB,  its
subsidiaries  or their  affiliates)  engaged in the business same as NBTB in the
Market Area; or (iii) directly or indirectly solicit or otherwise  intentionally
cause any person known to Executive to be an employee, officer, or member of the
Board of  Directors of NBTB or any of their  affiliates  to engage in any action
prohibited  under (i) or (ii) of this paragraph 6B;  provided that the ownership
by  Executive  as an investor of not more than five  percent of the  outstanding
shares of stock of any corporation,  or the shares of any investment  company as
defined in section 3 of the  Investment  Company Act of 1940, as amended,  shall
not in itself  constitute  a  violation  of  Executives  obligations  under this
paragraph 6B.

         C.  Executive  acknowledges  and agrees  that  irreparable  injury will
result  to  NBTB in the  event  of a  breach  of any of the  provisions  of this
paragraph 6 (the  "Designated  Provisions")  and that NBTB will have no adequate
remedy at law with  respect  thereto.  Accordingly,  in the event of a  material
breach of any  Designated  Provision,  and in  addition  to any  other  legal or
equitable  remedy  NBTB may  have,  NBTB  shall be  entitled  to the  entry of a
preliminary and permanent injunction  (including,  without limitation,  specific
performance) by a court of competent  jurisdiction in Chenango County, New York,
or  elsewhere,  to restrain the violation or breach  thereof by  Executive,  and
Executive submits to the jurisdiction of such court in any such action.

         D. It is the desire and intent of the parties  that the  provisions  of
this paragraph 6 shall be enforced to the fullest extent  permissible  under the
laws and public policies  applied in each  jurisdiction in which  enforcement is
sought.  Accordingly,  if any particular  provision of this paragraph 6 shall be
adjudicated  to be  invalid or  unenforceable,  such  provision  shall be deemed
amended  to delete  therefrom  the  portion  thus  adjudicated  to be invalid or
unenforceable, such deletion to apply only with respect to the operation of such
provision in the particular  jurisdiction in which such adjudication is made. In
addition,  should any court  determine  that the  provisions of this paragraph 6
shall be unenforceable with respect to scope, duration, or geographic area, such
court shall be empowered to substitute,  to the extent  enforceable,  provisions
similar  hereto or other  provisions  so as to provide to NBTB,  to the  fullest
extent permitted by applicable law, the benefits intended by this paragraph 6.

         E.  As used  herein,  "Market  Area"  shall  mean  the  area  or  areas
delineated  by  circles  formed by radii  extending  twenty-five  miles from (i)
Norwich,   New  York,  (ii)  the  authorized  branches  of  NBT  Bank,  National
Association  and any  successor  as they may exist from time to time,  and (iii)
each branch of a depository  institution or subsidiary  affiliated  with NBTB or
its  successor  for which  Executive  has or has had  significant  executive  or
managerial responsibilities.

         7. If all or any portion of the amounts payable to Executive under this
Agreement,  either alone or together with other payments which Executive has the

                                      -4-
<PAGE>

right to receive from NBTB,  constitute  "excess parachute  payments" within the
meaning of Section 280G of the  Internal  Revenue Code of 1986 (the "Code") that
are  subject  to the excise  tax  imposed  by  Section  4999 of the Code (or any
successor  sections),  NBTB shall increase the amounts payable  hereunder to the
extent  necessary to place Executive in the same after-tax  position as he would
have been in had no such excise tax been imposed on the payments hereunder.  The
determination  of the  amount  of any  such  excise  taxes  shall be made by the
independent accounting firm retained by NBTB.

                  If  at a  later  date  it is  determined  (pursuant  to  final
regulations  or  published  rulings of the  Internal  Revenue  Service  ("IRS"),
assessment by the IRS or  otherwise)  that the amount of excise taxes payable by
Executive is greater than the amount  initially so  determined,  then NBTB shall
pay  Executive an amount equal to the sum of (A) such  additional  excise taxes,
plus (B) any  interest,  fines and  penalties  with  respect to such  additional
excise  taxes,  plus (C) the amount  necessary  to reimburse  Executive  for any
income,  excise or other taxes payable by Executive  with respect to the amounts
specified  in (A) and (B) above and the  reimbursement  provided  by this clause
(C).

         8. In consideration for NBTB's commitments hereunder,  Executive hereby
remises,  releases and forever  discharges NBTB and each and all of its past and
present subsidiaries, parent and related corporations,  companies and divisions,
and its past and present directors,  trustees, officers, managers,  supervisors,
employees, attorneys, and agents, and their predecessors, successors and assigns
(referred to  collectively in this Agreement as  "Releasees"),  from any and all
claims,  debts,  agreements,   complaints  or  causes  of  action  (hereinafter,
collectively, "claims"), whether known or unknown, that he ever had, now has, or
hereafter can, shall or may have against any or all of the Releasees, for, upon,
or by reason of any cause,  matter,  thing or event whatsoever  occurring at any
time from the date of  Executive's  birth up to and including  January 26, 2001.
Executive  acknowledges  and understands  that the claims being released in this
paragraph include, but are not limited to: (i) any claim based on contract or in
tort or common law; (ii) any claim based on or arising under any civil rights or
employment  discrimination  laws,  such as the  Federal  Age  Discrimination  in
Employment Act (29 U.S.C. ss. 621 ET SEQ.) (hereinafter,  "ADEA"),  Title VII of
the Civil  Rights Act of 1964 (42  U.S.C.  ss.  2000e ET seq.),  or the New York
Human Rights Law (McKinney's N.Y. Executive Law, Ch. Eighteen,  Art. 15, ss. 290
et. seq.); (iii) any claim based on or arising under any employment related law,
such as the Employee  Retirement  Income  Security  Act of 1974,  as amended (29
U.S.C.  ss.  301 ET SEQ.),  the Equal Pay Act (29 U.S.C.  ss. 201 ET SEQ.),  the
Americans With  Disabilities  Act (42 U.S.C.  ss. 12101 ET SEQ.), the Family and
Medical Leave Act (29 U.S.C. ss. 2601 ET SEQ.), or the Fair Labor Standards Act,
as amended (29 U.S.C.  ss. 201 ET SEQ.);  (iv) any claim based on or arising out
of Executive's  employment by NBTB and its  predecessors  and/or his resignation
therefrom  including  any claims  pursuant  to his  employment  agreement  dated
January 1, 2000;  and (iv) any claims for  compensatory,  liquidated or punitive
damages,  damages for emotional distress,  back pay, front pay, and benefits. In
addition, effective upon the eighth day following execution of this Agreement by
Executive,  Executive shall have hereby waived any and all claims, whether known
or unknown, that he ever had, now has, or hereafter can, shall or may have under
the  Change-in-Control  Agreement,  as that term is defined  in the  Executive's

                                      -5-
<PAGE>

employment  agreement  dated  January 1, 2000.  Executive  understands  that, by
signing this  Agreement,  he waives all claims he ever had, now has, or may have
against  any of the  Releasees.  NBTB does  hereby  remise,  release and forever
discharge  Executive  from any and all claims,  debts,  agreements,  complaints,
liabilities,  payments,  accountings,  actions and causes of action, whatsoever,
whether  known  or  unknown,  at the  date  and  time  Executive  executes  this
Agreement,  that NBTB does, shall or might have against Executive,  for, upon or
by reason of any cause,  matter, thing or event whatsoever occurring at any time
from  the  date of  Executive's  birth  to and  including  the  date and time he
executes  this  Agreement.  NBTB  understands  that,  by the  execution  of this
Agreement  by an  authorized  officer,  NBTB waives all claims it ever had,  now
have,  or may have  against  Executive,  including,  but not limited to,  claims
arising  out of his  employment  prior to the date  and  time he  executes  this
Agreement.  This  release  does not apply to the  requirements  and  obligations
contained  within this Agreement nor to the vested rights of the Executive under
the Qualified Plan, 401(k) Plan, ESOP, and Stock Option Plan of NBTB.

         9.  Executive  further  covenants  and  agrees  not to  sue  any of the
Releasees  for any claims  released  hereunder,  nor to assert  any such  claims
against  any of the  Releasees  for any  purpose.  Any claim for a breach of any
provision  of this  Agreement  may be remedied  only by a lawsuit to enforce the
Agreement and will not invalidate any party's release of claims.

         10. Executive agrees that the terms of this Agreement are confidential,
and that he will not  disclose or publicize  the terms of this  Agreement or the
amounts  paid or agreed to be paid  pursuant to this  Agreement to any person or
entity, except to his attorney or accountant,  or to a government agency for the
purposes of the payment or collection of taxes or application  for  unemployment
compensation.  NBTB agrees that the terms of this Agreement are confidential and
they will not  knowingly  disclose  or  publicize  (or  knowingly  permit  their
employees to disclose or  publicize)  the terms of this  Agreement or the amount
paid pursuant to this  Agreement to any person or entity except their  officers,
directors, attorneys or accountants, or to a government agency or representative
thereof;  provided,  however,  that  NBTB  does not  guarantee  that none of its
employees  will not  make  any such  disclosure  or  publication;  and  provided
further, that NBTB reserves the right to disclose the terms of this Agreement in
any  filing  required  under  the rules and  regulations  promulgated  under the
Securities  Exchange  Act of  1934 by the  Securities  and  Exchange  Commission
("SEC") if, in the opinion of NBTB's counsel,  such disclosure is required under
such rules and regulations of the SEC.

         11. All executed  copies of this Agreement,  and  photocopies  thereof,
shall  have the same  force and  effect  and  shall be as  legally  binding  and
enforceable as the original.

         12. All provisions of this Agreement are severable,  and if any of them
is  determined  to be invalid or  unenforceable  for any reason,  the  remaining
provisions and portions of this Agreement shall be unaffected  thereby and shall
remain in full force to the fullest extent permitted by law.

                                      -6-
<PAGE>

         13.  This  Agreement  is binding on  Executive  and on his  successors,
administrators, heirs and assigns, and inures to the benefit of each of NBTB and
the   Releasees   and  their   successors,   predecessors,   heirs,   executors,
administrators or assigns, as the case may be.

         14.  Executive  acknowledges  that he has been advised of his rights to
consult  with an attorney  before  signing this  Agreement  and that he has been
encouraged  to do so.  Consequently,  he has  been  represented  by  independent
counsel in this matter.

         15. Executive makes the following  additional  representations to NBTB,
each  of  which  is  significant  and  an  important  consideration  for  NBTB's
willingness to enter into the Agreement:

                  A.       Executive expressly acknowledges that if he did not
execute the Agreement, he would not be entitled to receive the money set forth
in paragraph 3 A.

                  B.  Executive  acknowledges  that he has been given a full and
fair  opportunity to review the Agreement.  NBTB  specifically  recommended that
Executive  consult with an attorney before  executing the Agreement,  and he has
been  allowed  up to  twenty-one  (21) days to  consider  whether  to accept the
Agreement.  Executive acknowledges that he is signing this Agreement voluntarily
and of his own free will, with full knowledge of the nature and  consequences of
its terms.

                  C.  Executive  understands  that he may change  his mind,  not
retire and revoke the  Agreement  at any time during the seven (7) days after he
signs the Agreement,  provided he does so in writing,  in which case none of the
provisions of the Agreement will have any effect.  Executive understands that he
will not be entitled to receive any payments under the Agreement until the seven
(7) day revocation period has expired without revocation of the Agreement.

         16. By entering into this Agreement, NBTB does not admit that it or any
of its employees  violated any law or any legal right of Executive and, in fact,
NBTB expressly denies liability. NBTB is entering into this Agreement solely for
the  purpose of  effectuating  a mutually  satisfactory  retirement  benefit for
Executive  and,  therefore,  Executive's  termination  of his  positions,  as an
officer or director or both of NBTB, its subsidiaries and affiliates.

         17. By entering into this Agreement, neither Executive, nor NBTB admits
that he or they, or any of their  employees,  violated any law or legal right of
the  other,  and,  in fact,  Executive  and NBTB  expressly  deny  liability  or
responsibility.  They are entering into this Agreement solely for the purpose of
effectuating a mutual satisfactory  retirement of Executive from his employment,
and termination of his positions with NBTB, its subsidiaries and affiliates.

         18. The Agreement and all acts and transactions  contemplated hereunder
shall be governed,  construed and interpreted in accordance with the laws of the
State of New York, without regard to principles of conflict of laws.

                                      -7-
<PAGE>

         19.      Each party shall be responsible for its own attorneys' fees.

         20. NBTB and Executive agree that this Agreement will have no force and
effect,  unless  and  until  NBTB and  Executive  enter  into  the  Supplemental
Retirement Agreement between NBTB and Executive,  dated October 13, 2000, as set
forth at Exhibit A to this Agreement.

         21. This is the  complete and final  agreement  between the parties and
supersedes  all  prior  or   contemporaneous   agreements,   employment  offers,
negotiations or retirement discussions with respect to such subject matters with
the specific  exception of the  Supplemental  Retirement  Agreement set forth at
Exhibit A hereto and to the vested rights of the  Executive  under the Qualified
Plan,  401(k)  Plan,  ESOP,  and  Stock  Option  Plan of NBTB,  all of which are
reserved to the Executive.

                                      NBT BANCORP, INC.

By:      /S/ Joe C. Minor             By:  /S/ Daryl R. Forsythe
         Joe C. Minor                      Daryl R. Forsythe,
                                           President and Chief Executive Officer
         Date:    10/13/00                 Date:  10/16/00

                                      -8-
<PAGE>
                                                                      EXHIBIT A

                        SUPPLEMENTAL RETIREMENT AGREEMENT

         This  sets  forth  the  terms  of  an  agreement  for  the  payment  of
supplemental retirement income ("Agreement") made as of October 13, 2000 between
(i) NBT BANCORP  INC.,  a Delaware  corporation  and a  registered  bank holding
company,  and NBT BANK,  NATIONAL  ASSOCIATION,  a national banking  association
chartered  under the laws of the United States,  both having offices  located at
Norwich,  New  York  (collectively,  the  "Bank"),  and (ii)  JOE C.  MINOR,  an
individual  residing at One Wales Drive,  Norwich,  New York 13815, and who is a
member of a select group of management or highly  compensated  employees  within
the meaning of section 201(2) of the Employee  Retirement Income Security Act of
1974, as amended ("Minor").

                                Witnesseth That:

         WHEREAS,  NBTB,  the Bank and Minor  desire to make  changes in Minor's
current  Supplemental  Retirement  Agreement as part of Minor's  retirement  and
severance  arrangement  as an officer or  director  of NBTB,  the Bank or any of
their subsidiaries and affiliates, as the case may be;

         WHEREAS,  NBTB and Minor have  entered into a Severance  Agreement  and
Mutual General Release with respect to his retirement on even date herewith;

         NOW,   THEREFORE,   in  consideration  of  these  premises  and  mutual
agreements  hereinafter  set forth,  intending to be legally bound,  the parties
agree as follows:

1.       PURPOSE OF THE AGREEMENT.  The purpose of this Agreement is to provide
Minor a supplemental retirement benefit in accordance with the terms of this
Agreement.

2.       DEFINITIONS.  For purposes of this Agreement, the following words shall
have the meaning indicated:

         (a)      ACTUARIAL EQUIVALENT.  "Actuarial Equivalent" shall have the
         same meaning the term "Actuarial Equivalent" has under Section 2.03 of
         the Qualified Plan using the following actuarial assumptions:

                  MORTALITY:        Applicable Mortality Rate" as such term is
                                    defined in Section 2.03c of the Qualified
                                    Plan.

                  INTEREST RATE:    "Applicable Interest Rate" as such term is
                                    defined in Section 2.09b of the Qualified
                                    Plan.

                                      -1-
<PAGE>

         (b)      CAUSE.  "Cause" shall mean Minor's willful or gross misconduct
with respect to the business and affairs of the Bank, or with respect to any of
its affiliates.

         (c)      CODE.  "Code" shall mean the Internal Revenue Code of 1986,
as amended.

         (d)      DETERMINATION DATE.  "Determination Date" shall mean the first
day of the month following Minor's 62nd birthday.

         (e)      OTHER RETIREMENT BENEFITS.  "Other Retirement Benefits" shall
mean the sum of:

                  (i)      The annual benefit payable to Minor from the
Qualified Plan, plus

                  (ii) The annual  benefit  that could be  provided  by (A) Bank
contributions  (other than elective  deferrals) made on Minor's behalf under the
NBT Bancorp  Inc.  401(k) and  Employee  Stock  Ownership  Plan,  and (B) actual
earnings  on  contributions  in (A), if such  contributions  and  earnings  were
converted to a benefit payable on the Determination Date in the same form as the
benefit paid under this Agreement,  using the same actuarial  assumptions as are
provided under subparagraph 2(a).

         The  amount of Other  Retirement  Benefits  shall be  determined  by an
actuary  selected  by the  Bank,  with  such  determination  to be made  without
reduction for payment of benefits prior to any stated "normal  retirement  date"
and without regard to whether Minor is receiving payment of such benefits on the
Determination  Date. To the extent Minor receives a payment of Other  Retirement
Benefits  described in subparagraph  2(e)(ii) prior to the date the Supplemental
Retirement Benefit is determined  pursuant to this Agreement,  the total of such
Other  Retirement  Benefits  shall be  determined by including and assuming that
such amounts  earned  interest at a variable  rate equal to the one-year  United
States Treasury bill rate as reported in the New York edition of The Wall Street
Journal  on the  Determination  Date from the date  received  to the date  Other
Retirement Benefits are calculated for purposes of this Agreement.

         (f)      PRESENT VALUE.  "Present Value" shall mean the present value
of a benefit determined on the basis of the following actuarial assumptions:

                  MORTALITY:        "Applicable Mortality Rate" as such term is
defined in Section 2.03c of the Qualified Plan.

                  INTEREST RATE:    "Applicable Interest Rate" as such term is
defined in Section 2.09b of the Qualified Plan.

         (g)      QUALIFIED PLAN.  "Qualified Plan" shall mean the NBT Bancorp
Inc. Defined Benefit Pension Plan and Cash Balance Plan.

         (h)      SOCIAL SECURITY BENEFIT.  "Social Security Benefit" shall mean
Minor's actual social security benefit at his Social Security Retirement Age.

                                      -2-
<PAGE>

         (i)      SOCIAL SECURITY RETIREMENT AGE.  "Social Security Retirement
Age" shall have the same meaning the term "Social Security Retirement Age" has
under Section 2.58 of the Qualified Plan.

         (j)      YEAR OF SERVICE.  "Year of Service" shall mean a calendar year
in which Minor completes not less than 1,000 hours of service.

3.       AMOUNT OF SUPPLEMENTAL RETIREMENT BENEFIT.

         (a) AMOUNT  PAYABLE ON AND AFTER AGE 62. At age 62,  Minor,  subject to
the other terms and conditions of this  Agreement,  shall be paid by the Bank an
annual "Supplemental Retirement Benefit" determined as follows:

                  (i) ON AND AFTER AGE 62 BUT BEFORE SOCIAL SECURITY  RETIREMENT
         AGE.  Minor shall be entitled to a Supplemental  Retirement  Benefit on
         and after his 62nd birthday but before his Social  Security  Retirement
         Age in an amount equal to the excess of (1)  $90,000,  over (2) Minor's
         Other Retirement Benefits,  determined as of the Determination Date and
         calculated in accordance with paragraph 2(e).

                  (ii) ON AND AFTER SOCIAL SECURITY  RETIREMENT AGE. Minor shall
         be  entitled  to a  Supplemental  Retirement  Benefit  on and after his
         Social Security  Retirement Age in an amount equal to the excess of (1)
         $90,000,  over (2) the sum of (a) Minor's  Other  Retirement  Benefits,
         determined as of the  Determination  Date and  calculated in accordance
         with paragraph 2(e), plus (b) Minor's Social Security Benefit.

4.       TIME OF PAYMENT.

         (a) Except as  provided in  paragraph  6 (payment  on death),  the Bank
shall pay the Supplemental Retirement Benefit commencing on the first day of the
month following Minor's attainment of age 62.

5.       FORM OF PAYMENT.

         (a) The  Supplemental  Retirement  Benefit  described in paragraph 3 of
this  Agreement  shall be paid as a straight  life  annuity,  payable in monthly
installments,  for  Minor's  life;  provided,  however,  that  if  Minor  has no
surviving  spouse and dies, all payments  shall cease and the Bank's  obligation
under this Agreement shall be deemed to have been fully discharged.

         (b) Notwithstanding the form of payment described in subparagraph 5(a),
if Minor is married on the date payment of the Supplemental  Retirement  Benefit
commences,  and Minor dies subsequent to that date, the benefit shall be paid as
a 50% joint and survivor annuity with Minor's spouse as the Beneficiary. The 50%
joint and survivor  annuity  shall be the  Actuarial  Equivalent  of the benefit
described  in  subparagraph  5(a).  If the  Supplemental  Retirement  Benefit is

                                      -3-
<PAGE>

payable pursuant to this subparagraph  5(b), but Minor's spouse fails to survive
him,  no payments  will be made  pursuant to this  Agreement  following  Minor's
death.

         (c) Notwithstanding  the foregoing  provisions of this paragraph 5, the
Bank, in its sole  discretion,  may accelerate the payment of all or any portion
of the  Supplemental  Retirement  Benefit  or  the  reduced  early  Supplemental
Retirement Benefit at any time. Any payment  accelerated in accordance with this
subparagraph  5(c)  shall  be the  Actuarial  Equivalent  of the  payment  being
accelerated. The Bank will use its best efforts, in good faith, to structure any
such payment so as to avoid a constructive receipt to Executive.

6.   PAYMENTS UPON MINOR'S DEATH.  Except as provided in subparagraphs 6(a) and
     (b), if Minor shall die before his 62nd birthday, no payment shall be due
     under this Agreement.

         (a)  If  Minor  elects  early  retirement  pursuant  to  the  Severance
Agreement and Mutual General  Release dated October 13, 2000, and he dies before
payment of any Supplemental Retirement Benefit has commenced,  Minor's surviving
spouse shall be paid, in monthly  installments,  as a straight life annuity,  50
percent of such Supplemental  Retirement  Benefit for her life commencing within
30 days following Minor's death,  subject to the right of the Bank to accelerate
such payments as provided in subparagraph 5(c). However, if Minor's spouse fails
to survive him, no payments shall be made under this Agreement.

         (b) If Minor's  death  shall  occur  after  payment  of a  Supplemental
Retirement Benefit has commenced,  Minor surviving spouse shall receive payments
under this Agreement to the extent provided in paragraph 5.

7.   POWERS.  The Bank shall have such powers as may be  necessary  to discharge
     its duties  under this  Agreement,  including  the power to  interpret  and
     construe  this   Agreement   and  to  determine  all  questions   regarding
     employment,  disability status, service,  earnings, income and such factual
     matters as birth and marital status.  The Bank's  determinations  hereunder
     shall be  conclusive  and  binding  upon the  parties  hereto and all other
     persons having or claiming an interest under this Agreement. The Bank shall
     have no power to add to,  subtract from, or modify any of the terms of this
     Agreement.  The  Bank's  determinations  hereunder  shall  be  entitled  to
     deference  upon review by any court,  agency or other  entity  empowered to
     review  its  decisions,  and  shall not be  overturned  or set aside by any
     court,  agency or other entity unless found to be arbitrary,  capricious or
     contrary to law.

8.       CLAIMS PROCEDURE.

         (a)      Any claim for benefits by Minor or  his spouse shall be made
in writing to the Bank.  In this paragraph, Minor and his spouse are referred to
as "claimants."

         (b) If the Bank  denies a claim in whole or in part,  it shall send the
claimant  a  written  notice  of the  denial  within  90 days  after the date it
receives a claim, unless it needs additional time to make its decision.  In that
case,  the  Bank may  authorize  an  extension  of an  additional  90 days if it

                                      -4-
<PAGE>

notifies the claimant of the extension  within the initial  90-day  period.  The
extension  notice  shall state the reasons for the  extension  and the  expected
decision date.

         (c) A denial notice shall contain:

                  (i)  The specific reason or reasons for the denial of the
         claim;

                  (ii)  Specific reference to pertinent Agreement provisions
         upon which the denial is based;

                  (iii) A description of any additional  material or information
         necessary to perfect the claim, with an explanation of why the material
         or information is necessary; and

                  (iv)  An explanation of the review procedures provided below.

         (d) Within 60 days after the claimant  receives a denial notice,  he or
she may file a request for review with the Bank.  Any such  request must be made
in writing.

         (e) A  claimant  who  timely  requests  review  shall have the right to
review  pertinent  documents,   to  submit  additional  information  or  written
comments, and to be represented.

         (f) The Bank shall send the claimant a written  decision on any request
for review  within 60 days  after the date it  receives  a request  for  review,
unless an extension  of time is needed,  due to special  circumstances.  In that
case, the Bank may authorize an extension of an additional 60 days,  provided it
notifies the claimant of the extension within the initial 60-day period.

         (g)      The review decision shall contain:

                  (i)  The specific reason or reasons for the decision; and

                  (ii) Specific reference to the pertinent Agreement  provisions
upon which the decision is based.

         (h) If the Bank does not send the claimant a review decision within the
applicable time period, the claim shall be deemed denied on review.

         (i) The denial  notice or, in the case of a timely  review,  the review
decision (including a deemed denial under subparagraph 8(h)) shall be the Bank's
final decision.

9.   ASSIGNMENT.  Neither  Minor nor his spouse may  transfer  his, her or their
     right  to  payments  to  which  he,  she or they are  entitled  under  this
     Agreement.  Except  insofar  as may  otherwise  be  required  by  law,  any
     Supplemental  Retirement  Benefit payable under this Agreement shall not be
     subject  in any  manner to  alienation  by  anticipation,  sale,  transfer,
     assignment,  pledge or encumbrance, nor subject to the debts, contracts, or
     liabilities of Minor or his spouse.

                                      -5-
<PAGE>

10.  CONTINUED EMPLOYMENT.  This Agreement shall not be construed as conferring
     on Minor a right to continued employment with the Bank.

11.  FUNDING.

         (a) The Supplemental  Retirement Benefit at all times shall be entirely
unfunded, and no provision shall at any time be made with respect to segregating
any assets of the Bank for  payments of any benefits  hereunder,  except that in
the event of a Change of Control,  the Bank, within five (5) days of such Change
of Control,  shall fund a grantor trust within the meaning of section 671 of the
Code with an amount  sufficient  to cover all potential  liabilities  under this
Agreement.

         (b)  Neither  Minor  nor his  spouse  shall  have any  interest  in any
particular  assets of the Bank by reason of the right to receive a benefit under
this  Agreement.  Minor and his  spouse  shall  have only the  rights of general
unsecured creditors of the Bank with respect to any rights under this Agreement.

         (c) Nothing contained in this Agreement shall constitute a guarantee by
the Bank or any entity or person that the assets of the Bank will be  sufficient
to pay any benefit hereunder.

12.  WITHHOLDING.  Any payment made pursuant to this Agreement  shall be reduced
     by federal and state income, FICA or other employee payroll, withholding or
     other similar taxes the Bank may be required to withhold.  In addition,  as
     the Supplemental  Retirement Benefit accrues during Minor's employment with
     the Bank, the Bank may withhold from Minor's regular  compensation from the
     Bank any FICA or other employee payroll, withholding or other similar taxes
     the Bank may be required to withhold.

13.  SUCCESSORS AND ASSIGNS.  This Agreement shall be binding upon, and shall
     inure to the benefit of, the successors and assigns of the Bank.

14.  APPLICABLE LAW.  This Agreement shall be construed and administered in
     accordance with the laws of the State of New York, except to the extent
     preempted by federal law.

15.  AMENDMENT.  This Agreement may not be amended, modified or otherwise
     altered except by written instrument executed by both parties.

16.  ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement and
     understanding of the parties, and supersedes all prior agreements or
     understanding (whether oral or written) between the parties, relating to
     deferred compensation and/or supplemental retirement income.

                                      -6-
<PAGE>

         IN WITNESS  WHEREOF,  the parties  hereby  execute  this  Agreement  as
follows:

                                      NBT BANCORP INC.

                                      By:  /S/  Everett A. Gilmour

Date:  10/16/00                       Its:  Chairman of the Board

                                      NBT BANK, NATIONAL ASSOCIATION

                                      By:  /S/ Daryl R. Forsythe

Date:  10/16/00                       Its:  Chairman & CEO

Date:  10/13/00                       /S/ Joe C. Minor
                                      JOE C. MINOR

                                      -7-
<PAGE>

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