On October 7, 2012, Mr. Joseph G. Nasser tendered his resignation, effective immediately, from the Board of Directors of NBT Bancorp Inc. and NBT Bank, N.A. (collectively, the "Company") for personal reasons. In recognition of Mr. Nasser's years of service with the Company, the Company has agreed to accelerate the vesting of Mr. Nasser's 1,892 outstanding restricted stock units, effective October 7, 2012, coinciding with the effective date of his resignation.

Additionally, on October 7, 2012, the Company and Mr. Nasser entered into a two-year consulting agreement (the "Consulting Agreement") pursuant to which Mr. Nasser will provide consulting services to assist with business development and community relations. The Company will pay Mr. Nasser a monthly consulting fee of $3,333.33 during the term of the agreement. The foregoing description of the Consulting Agreement is a summary only and is qualified by reference to the full text of the Consulting Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

Exhibit No.   Description

10.1          Consulting Agreement, dated October 7, 2012, by and between NBT Bancorp
              Inc. and Joseph G. Nasser.