Document:

EXHIBIT 10.8
               Death Benefits Agreement between NBT Bancorp Inc.,
                         NBT Bank, National Association
                   and Daryl R. Forsythe made August 22, 1995.

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                            DEATH BENEFITS AGREEMENT
THIS  AGREEMENT,  made and entered  into this 22nd day of August,  1995,  by and
among NBT Bancorp  Inc.,  a Delaware  corporation  and  registered  bank holding
company,  and NBT Bank,  National  Association,  a national banking  association
organized  under  the  laws  of  the  United  States  (hereinafter  referred  to
collectively as the "Bank") and Daryl R. Forsythe,  an individual residing at 13
Concord  Street,  Sidney,  New York,  NY 13838  (hereinafter  referred to as the
"Employee").

WHEREAS, the Bank has retained the Employee as its president and chief executive
officer; and

WHEREAS, the Bank is desirous of retaining the services of the Employee; and

WHEREAS, the Bank is desirous of assisting the Employee in carrying life
insurance on his life; and

WHEREAS, the Bank has determined that its interests can best be served under a
"split-dollar" arrangement; and

WHEREAS, the Bank and the Employee have applied for Insurance Policy No. 8876212
(the "Policy") issued by the New England Mutual Life Insurance Company ("The New
England") in the face amount of $800,000 on the Employee's life; and

WHEREAS,  the Bank and the Employee agree to make said insurance  policy subject
to this split-dollar agreement; and

WHEREAS, it is now understood and agreed that this split-dollar  agreement is to
be effective as of the date on which the Policy was issued by The New England.

NOW, THEREFORE,  for value received and in consideration of the mutual covenants
contained herein, the parties agree as follows:

                             ARTICLE I - DEFINITIONS

 For purposes of this Agreement,  the following terms will have the meanings set
forth below:

1.   "Cash  Surrender  Value of the  Policy"  will  mean  the Cash  Value of the
     Policy,  plus the cash value of any paid-up  additions,  plus any  dividend
     accumulations and unpaid dividends, and less any Policy Loan Balance.

2.   "Cash Value of the Policy" will mean the cash value as illustrated in the
     table of values shown in the Policy.

3.   "Bank's Interest in the Policy" will be defined in Article VII.

<PAGE>

4.   "Current Loan Value of the Policy" will mean the Loan Value of the Policy
     reduced by any outstanding Policy Loan Balance.

5.   "Loan Value of the Policy"  will mean the amount which  together  with loan
     interest  will equal the Cash Value of the Policy and of any paid-up
     additions on the next loan interest due date or on the next premium due
     date, whichever is the smaller amount.

6.   "Policy Loan Balance" at any time will mean policy loans outstanding plus
     interest accrued to date.

                       ARTICLE II - ALLOCATION OF PREMIUMS

The Bank will pay all premiums on the Policy when due.

                     ARTICLE III - WAIVER OF PREMIUMS RIDER

The Bank has added a rider to the Policy providing for the waiver of premiums in
the event of the Employee's  disability.  Any additional premium attributable to
such rider will be payable by the Bank.

              ARTICLE IV - OTHER RIDERS AND SUPPLEMENTAL AGREEMENTS

 Should the parties to this  Agreement  deem it desirable,  the Bank will add to
the Policy one or more of such other riders and  supplemental  agreements  which
may be available from The New England from time to time. Any additional  premium
attributable to any such rider or supplemental  agreement will be payable by the
Bank.  Notwithstanding  the  provisions of Article VIII,  any  additional  death
benefits  provided by such rider or  supplemental  agreement will be paid to the
Bank,  unless  otherwise agreed to by the parties at the time of the adoption of
the particular rider or supplemental agreement.

                         ARTICLE V - PAYMENT OF PREMIUMS

 Any  premium or portion  thereof  which is  payable by the  Employee  under any
Article of this  Agreement  may at the election of the Employee be deducted from
the cash compensation  otherwise payable to him, and the Bank agrees to transmit
that premium or portion,  along with any premium or portion  thereof  payable by
it, to The New England on or before the premium due date.

                  ARTICLE VI - APPLICATION OF POLICY DIVIDENDS

 All dividends  attributable to the Policy will be to provide paid-up additional
insurance.

                                       -2-
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                       ARTICLE VII - RIGHTS IN THE POLICY

 The Employee will have the sole right to designate the beneficiary of the death
proceeds of the Policy in excess of the Bank's Interest in the Policy.  The Bank
will have and may exercise, except as limited hereinafter,  all ownership rights
in the Policy.  The Bank will not surrender the policy for  cancellation  except
upon  expiration of the thirty (30) day period  described in Article X. The Bank
will not without the written  consent of the  Employee  assign its rights in the
Policy,  other than for the purposes of obtaining a loan against the Policy,  to
anyone other than the Employee.  The Bank will not take any action  dealing with
The New England  that would  impair any right or interest of the Employee in the
Policy.  The Bank  will have the right to  borrow  from The New  England  and to
secure  that loan by the  Policy,  an amount  which,  together  with the  unpaid
interest  accrued  thereon,  will at no time exceed the lesser of (a) the Bank's
Interest in the Policy or (b) the Loan Value of the Policy.  "Bank's Interest in
the Policy" will mean,  at any time at which the value of such interest is to be
determined under this Agreement,  the Cash Surrender Value of the Policy at such
time.

                 ARTICLE VIII - RIGHTS TO THE PROCEEDS AT DEATH

 In the event of the  Employee's  death while this  Agreement  is in force,  the
beneficiary  designated  by the Employee  will receive  $600,000 from the Policy
proceeds. The Bank will receive the remainder of the Policy proceeds.

                      ARTICLE IX - TERMINATION OF AGREEMENT

1.   This  Agreement  may be terminated at any time while the Employee is living
     by written  notice thereof by either the Bank or the Employee to the other;
     and, in any event,  this Agreement  will terminate upon  termination of the
     Employee's employment.
2.   In the event of the Employee's total  disability,  as defined in the rider,
     which begins  while the Employee is employed,  while the rider is in force,
     and which  continues for at least six months,  the benefits  provided under
     this  Agreement will continue  until  midnight  before the Employee's  65th
     birthday.  If at any  time  following  the  initial  six  month  period  of
     disability as defined in the rider The New England stops waiving  premiums,
     then Section 1 of this Article will again be applicable.

                  ARTICLE X - EMPLOYEE RIGHTS UPON TERMINATION

Upon termination of the Agreement,  the Employee will transfer all of his right,
title and interest in the Policy to the Bank, by executing such documents as are
necessary  to  transfer  such  right,  title  and  interest  as of the  date  of
termination. The Bank will thereafter be able to deal with the Policy in any way
it may see fit.

                                       -3-
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                         ARTICLE XI - PLAN MANAGEMENT

For purposes of the Employee  Retirement  Income Security Act of 1974 ("ERISA"),
the Bank will be the "Named  Fiduciary"  and "Plan  Administrator"  of the split
dollar  life  insurance  plan (the  "Plan") for which this  Agreement  is hereby
designated  the written  plan  instrument.  The Bank's  board of  directors  may
authorize  a person or group of persons to fulfill the  responsibilities  of the
Bank as Plan  Administrator.  The Named Fiduciary or the Plan  Administrator may
employ  others to render advice with regard to its  responsibilities  under this
Plan. The Named Fiduciary may also allocate fiduciary responsibilities to others
and may exercise any other powers  necessary  for the discharge of its duties to
the extent not in conflict with ERISA.

                         ARTICLE XII - CLAIMS PROCEDURE

1.   Filing Claims:  Any insured,  beneficiary or other individual  (hereinafter
     "Claimant")  entitled to  benefits  under the Plan or under the Policy will
     file a claim request with the Plan  Administrator  with respect to benefits
     under the Plan with The New  England  with  respect to  benefits  under the
     Policy. The Plan Administrator  will, upon written request of the Claimant,
     make available  copies of any claim forms or  instructions  provided by The
     New England or advise the Claimant where such forms or instructions  may be
     obtained.

2.   Notification  to Claimant:  If a claim is wholly or partially  denied,  the
     Plan  Administrator  will  furnish to the Claimant a notice of the decision
     within  ninety  (90)  days in  writing  and in a  manner  calculated  to be
     understood  by the  Claimant,  which  notice  will  contain  the  following
     information:

(a)      The specific reason or reasons for the denial;
(b)      Specific reference to pertinent Plan provisions upon which the denial
         is based;
(c)      A description of any additional material or information necessary for
         the Claimant to perfect the claim and an explanation of why such
         material or information is necessary; and
(d)      An  explanation of the Plan's claims review  procedure  describing
         the steps to be taken by a Claimant who wishes to submit his claim
         for review.

In the case of  benefits  which are  provided  under  the  Policy,  the  initial
decision on the claims will be make by The New England.

3.   Review Procedure: A Claimant or his authorized representative may with
     respect to any denied claim:

(a)      Request a review upon written application filed within sixty (60) days
         after receipt by the Claimant of written notice of the denial of his
         claim;

                                       -4-
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(b)      Review pertinent documents; and
(c)      Submit issues and comments in writing.

Any request or  submission  will be in writing and will be directed to the Named
Fiduciary (or its designee). The Named Fiduciary (or its designee) will have the
sole  responsibility  for the review of any denied claim and will take all steps
appropriate in the light of its findings.

4.       Decision on Review: The Named Fiduciary (or its designee). The Named
Fiduciary  (or its  designee)  will render a decision  upon  review.  If special
circumstances  (such as the need to hold a hearing or any matter  pertaining  to
the denied claim) warrant additional time, the decision will be rendered as soon
as possible,  but not later than one hundred  twenty (120) days after receipt of
the request for review.  Written  notice of any such extension will be furnished
to the Claimant  prior to the  commencement  of the  extension.  The decision on
review will be in writing and will include  specific  reasons for the  decision,
written in a manner  calculated to be  understood  by the  Claimant,  as well as
specific  references  to the  pertinent  provisions  of the  Plan on  which  the
decision is based.  If the  decision on review is not  furnished to the Claimant
with the time  limits  prescribed  above,  the claim  will be  deemed  denied on
review.

                      ARTICLE XIII - SATISFACTION OF CLAIM

 The Employee agrees that his rights and interests, and the rights and interests
of any persons  taking under or through him, will be completely  satisfied  upon
compliance by the Bank with the provisions of this Agreement.

                     ARTICLE XIV - AMENDMENT AND ASSIGNMENT

This  Agreement may be altered,  amended or modified,  including the addition of
any extra policy provisions,  by a written instrument signed by the Bank and the
Employee.  Either party may,  subject to the  limitations of Article VII, assign
its interests and obligations under this Agreement,  provided, however, that any
assignment will be subject to the terms of this Agreement.

                        ARTICLE XV - POSSESSION OF POLICY

 The Bank will keep possession of the Policy.  The Bank agrees from time to time
to make the Policy  available  to the  Employee  or to The New  England  for the
purpose of endorsing or filing any change of  beneficiary on the Policy for that
portion of the death proceeds in excess of the Bank's  Interest in the Policy as
provided in Article VII, but the Policy will promptly be returned to the Bank.

                           ARTICLE XVI - GOVERNING LAW

This Agreement sets forth the entire  agreement of the parties  hereto,  and any
and all prior  agreements,  to the  extent  inconsistent  herewith,  are  hereby

                                      -5-
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superseded.  This Agreement will be governed by the laws of the State of New
York.

                          ARTICLE XVII - INTERPRETATION

Where appropriate in this Agreement, words used in the singular will include the
plural and words used in the masculine will include the feminine.

IN WITNESS  WHEREOF,  the parties have  hereunto set their hands and seals,  the
Bank by its duly authorized officer, on the day and year first written above.

                                       EMPLOYEE

                                       /s/Daryl R. Forsythe (L.S.)
                                       Daryl R. Forsythe

                                       NBT Bancorp Inc.

                                       /s/Everett A. Gilmour (L.S.)
                                       By
                                       Its Chairman of Board

                                       NBT Bank, National Association

                                       /s/Paul O. Stillman (L.S.)
                                       By
                                       Its Compensation Committee Chairman

                                       -6-
<PAGE><PAGE>

                                NBT Bancorp Inc.
                         NBT Bank, National Association
                     52 South Broad Street Norwich, NY 13815

Date:    August 1, 1995

To:      Daryl R. Forsythe

RE:      WAGE CONTINUATION PLAN

In consideration of your valuable  services,  the Board of Directors NBT Bancorp
Inc. and NBT Bank, National Association (hereinafter collectively referred to as
the "Bank") have approved a Wage Continuation Plan for you in the event that you
are disabled as a result of sickness or injury.

Your Qualified Wage Continuation Plan provides that:

1.    During the first three months of disability  you will receive 100% of your
      regular wages,  reduced by any benefits you receive from Social  Security,
      Workers Compensation,  State Disability Plan, or similar governmental plan
      or any other program, e.g. group insurance coverage, paid for by the Bank.

2.    In  addition,  in the event that your  disability  continues  beyond three
      months,  your  benefit  payments  shall be $7,000 from policy  #191D263410
      issued by the New England Mutual Life Insurance Company, which is enclosed
      with this letter for your safekeeping.

3.    100% of the premium for the policy will be paid by the Bank while you are
      employed by it and while the Plan is in effect.

4.    With regard to the  operation  and  management of the Plan and its assets,
      the Bank will be  responsible  and have full  discretion;  except that the
      insurance company shall have  responsibility  with regard to those aspects
      of the Plan which are governed by the terms of the insurance contract.  In
      accepting  the foregoing  responsibility,  the Bank will serve as the Plan
      fiduciary  and  administrator  under the terms of the Employee  Retirement
      Income Security Act ("ERISA"), as amended.

5.    If a request for benefits is denied,  the  insurance  company will provide
      you with written  notice stating the reasons for denial and an explanation
      of the  procedure  by which such may be  reviewed.  Upon  request for such
      review, you or your  representative  will be permitted to review pertinent
      Plan documents and submit issues and comments in writing.

                                      -1-
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6.    If a request for benefits under the insurance  contract is denied,  you or
      your  representative  must contact the  insurance  company for details and
      review of such denial.

7.    This Plan may be amended or  terminated  by the Board of  Directors of the
      Bank at any time; any such  amendment or termination  will be effective as
      determined by the Board of Directors.

Sincerely,

/S/  Everett A. Gilmour

                                      -2-
<PAGE>

                                NBT BANCORP INC.
                         NBT BANK, NATIONAL ASSOCIATION
                      WAGE CONTINUATION PLAN FOR EMPLOYEES

                              ENROLLMENT AGREEMENT

  Name:   Daryl R. Forsythe

  Social Security Number:

   I have read and  understand  the Summary Plan  Description of the NBT Bancorp
  Inc. and NBT Bank,  National  Association Wage Continuation Plan (the "Plan"),
  and  agree to be  bound  by the  Plan  terms  and  hereby  elect  to  become a
  Participant with respect to benefits for which I am eligible thereunder.

   I hereby elect (check one)

         ___X___ The maximum insured  benefits  available to me from the insurer
         up to the limit specified under the Plan.

         ______ No insured benefits under the Plan.

         I understand  that if I have elected not to  participate in the insured
  benefits,  the  Employer  will  have  no  responsibility  for the  payment  of
  disability  insurance premiums on my behalf or to provide equivalent  benefits
  in an other form; but I shall have the right to change this election after one
  year from the date of my election not to participate and as of the next annual
  plan entry date, provided that the Plan remains in force and I meet all of the
  eligibility requirements at that time.

         I understand that it is my  responsibility  to apply for any disability
  insurance to which I am entitled and to fulfill any additional requirements of
  the insurer  relative to the issuance  thereof.  I agree that,  apart from the
  obligations of the NBT Bancorp Inc. and NBT Bank, National Association to make
  premium payments  pursuant to the terms of the Plan,  neither NBT Bancorp Inc.
  and NBT Bank, National  Association nor any of their shareholders,  directors,
  officers,  or  employees  will have any  responsibility  with  respect  to the
  issuance  of my  insurance  or the  payment of any  benefits  provided by such
  insurance.  I agree that, to the extent that I am responsible  for any portion
  of the premiums for my  insurance,  such amounts may be withheld  from my cash
  compensation  and transmitted  directly to the insurer by the NBT Bancorp inc.
  and NBT Bank, National Association.

  Date:     8-22-95                         Signature /S/  Daryl R. Forsythe

                                      -1-
<PAGE>

                                            NBT BANCORP INC.

                                            By:  /S/  Everett A. Gilmour

                                            Its: Chairman of the Board

                                            NBT BANK, NATIONAL ASSOCIATION

                                            By:  /S/  Paul O. Stillman

                                            Its: Compensation Committee Chairman

                                      -2-
<PAGE>

                            SUMMARY PLAN DESCRIPTION
                                NBT BANCORP INC.
                         NBT BANK, NATIONAL ASSOCIATION

                             WAGE CONTINUATION PLAN

NAME OF PLAN
The plan will be known as the Wage Continuation Plan.

PLAN YEAR
The Plan Year will be January 1 through December 31, and the records of the Plan
are kept on a calendar year basis.

Administrator
The Plan Administrator is NBT Bancorp Inc. and NBT Bank, National Association,
whose address is 52 South Broad Street, Norwich, NY 13815.

EMPLOYER CONTRIBUTIONS
 The Employer will contribute on behalf of each  Participant an amount necessary
to purchase a policy  providing  the benefits to which  he/she is entitled.  The
Employer  will pay its share of  premiums  while the Plan is in effect and while
the Employee  continues as a Participant  in the Plan; the Employer will have no
obligation  to pay any premiums  after a  Participant  ceases  active  full-time
employment with the Bank.

DEFINITIONS

1.    The effective date of the Plan is August 1, 1995.

2.   "Waiting Period" is the later of six months following the date of full-time
      employment or the Effective Date.

3.    The "Entry  Date" is the date  following  the Waiting  Period upon which a
      Policy is issued  for a plan  Participant.  If an  Employee  elects not to
      participate in the Plan,  he/she must wait one full year after the date of
      his/her  election not to participate  before being eligible to participate
      in the Plan.

4.    The "Employer" is NBT Bancorp Inc. or NBT Bank, National Association, or
      any successor thereto and any other corporation, business association, or
      proprietorship which shall assume in writing the obligations of the Plan.

                                      -1-
<PAGE>

5.    "Employee" is a person regularly employed by the Employer,  excluding such
      persons who are  customarily  employed for not more than twenty (20) hours
      in any one week or for not more than five (5) months in any calendar year.

6.    "Participant" means an Employee who has a Policy issued and in force on
      his/her life by the Insurer under the terms of the Plan.

7.    "Compensation"  means as of his/her Entry Date in the Plan the  Employee's
      annual base rate of salary or wage,  plus any  bonuses,  commissions,  and
      overtime payments.

8.    "Insurer" means the New England Mutual Life Insurance Company or any other
      company which shall issue a Policy as defined in the Plan.

9.    "Policy" means an individual Guaranteed Renewable or Non- Cancelable
      Disability Income contract issued by the Insurer.

10.   "Commencement Date" is the day when benefits begin during a continuous
      period of disability.

11.   "Qualification  Period" is the number of days that  Total  Disability,  as
      defined in the Policy,  must continue before Residual  Partial  Disability
      Benefits, as defined in the Policy, can be payable.

12.   "Maximum  Benefit  Period" is the longest period of time for which the New
      England Mutual Life Insurance  Company will pay benefits during any period
      of continuous disability as defined in the Policy.

13.   "Disability" has the meanings contained in the Policy.

14.   "Full-time Employment" has the same definition as used for the Employer's
      qualified pension plan.

BENEFITS
The Commencement Date,  Qualification  Period,  Maximum Benefit Period,  Total
Disability Benefit and Residual  Disability Benefit are described in detail on
the definitions page of the Policy or Policies delivered as part of this Plan.
For exact details of these and other provisions, refer to your Policy(ies).

SATISFACTORY HEALTH REQUIREMENTS
Participation in this Plan requires  evidence of insurability as determined by
the Insurer.  Employees who do not satisfy all requirements of the Insurer may

                                      -2-
<PAGE>

be issued limited coverage,  if available,  in lieu of complete  exclusion
from the Plan. An otherwise  eligible Employee who does not meet the Insurer's
requirements for a Policy will not be a Participant in this Plan.

 The Employer  will pay its share of premiums  while the Plan is in effect and
while the Employee  continues as a Participant  in the Plan; the Employer will
have no  obligation  to pay any premiums  after a  Participant  ceases  active
full-time employment with the Bank.

OWNERSHIP OF POLICIES

Each Participant will be the applicant, owner and holder of his/her Policy. As
the insured-owner, he/she is responsible for submitting any claims directly to
the Insurer and will receive claim  payments  directly  from the Insurer.  The
Employer is in no way  responsible for the processing of claims or the payment
thereof,  and the determination of claim payments rests solely and wholly with
the Insurer.  The insured-  owner may request the Employer to withhold  income
tax from sick pay  payments.  Should  such a request be made,  the  Insurer is
required to deduct and withhold the  appropriate  amount from claim  payments.
The  Employer  will furnish the  insured-owner  with the  necessary  forms for
income tax purposes.

POLICY CONTINUATION

When a Participant  ceases active full-time  employment with the Bank,  he/she
has the right as  policy-owner  to assume premium  payments for his/her Policy
and maintain it in force subject to the terms of the Policy.

TERMINATION OF EMPLOYMENT AND/OR PLAN

In the event of termination of employment of a Participant,  the Employer will
reduce  the  total  premium  for the  Plan  by the  amount  of the  terminated
Participant's premium and inform the Insurer of such termination.

The  Employer  may  terminate  this  Wage  Continuation  Plan  by  an  express
declaration  in writing and by notifying the Insurer and each  Participant  of
such action.  At termination  each  Participant may assume payment of premiums
for his/her Policy.

MISCELLANEOUS

The terms of the Plan  anticipate  addition of new  Participants  and changes in
coverage for existing  Participants from time to time. However,  the Employer is
in no way  obligated  to  provide  benefits  for any  Employee  or for  which an
Employee may have become eligible but for which no Policy has been issued.

The  Employer's  liability for wage  continuation  payments is discharged by the
payment of  premiums  for each  Individual  Policy.  Failure  of the  Insurer to
approve  or  otherwise  honor  claim for  payment  will in no way  obligate  the
Employer.

                                      -3-
<PAGE>

HOW TO MAKE INQUIRIES, TRANSACTIONS, AND CLAIMS FOR BENEFITS UNDER PLAN
Any inquiry, transaction, or claim for benefits under the Plan must be made by
addressing in writing the Plan  Administrator who will also serve as Agent for
Service of Process.

If a claim for benefits by any Participant is denied in whole or in part, then
the New England Mutual Life Insurance Company of Boston,  Massachusetts,  will
set forth in writing the specific reasons for such denial.

FURTHER INFORMATION
This is a brief summary of benefits  available.  Complete terms and conditions
governing  the Plan  are set  forth in the  Policies  underwritten  by the New
England Mutual Life Insurance Company of Boston, Massachusetts.

In the event of conflict  between this summary and the Policies,  the Policies
are the controlling documents.

If you have any  questions,  you may  write  to the Plan  Administrator  named
above, at the above address.

                                      -4-
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