By ALLISSA KLINE
akline@bizjournals.com | 716-541-1612

Mark Tryniski, president and CEO of Community Bank System Inc., entered a new, three-year employment agreement that includes a base salary of $620,000, according to documents filed with the U.S. Securities and Exchange Commission.

The employment agreement, which was approved by the bank's board of directors in December, covers the period from Jan. 1, 2012, to Dec. 31, 2014. Tryniski continues to be eligible for bonuses and his base pay may raise in future years, depending on the company's payroll policies for executive employees, the filing shows.

Community Bank System is the Syracuse-area parent company of Community Bank N.A., which operates in Upstate New York and northeastern Pennsylvania, where it conducts business as First Liberty Bank & Trust. Community Bank is the seventh-largest bank in Western New York, with $823.2 million in local deposits as of June 30.

Since 2009, Tryniski has been entitled to at least $454,000 in base pay, as set forth in the company's 2009 employment agreement. In 2010, he received $454,230 in salary payments, part of an overall compensation of $1.34 million, SEC data shows. Complete salary data for 2011 has not yet been made public.

In other matters, the board of directors approved a stock repurchase program authorizing the repurchase of no more than 1.5 million shares, or $42 million, of the company's common stock. The 12-month repurchase program began Jan. 1. Additionally, longtime board member David Patterson, who was appointed chair in 2010, retired from the board. Current board member Nicholas DiCerbo succeeded him as chair, effective Jan. 1.

Community Bank operates locally in Erie, Chautauqua, Cattaraugus and Allegany counties. It acquired The Wilbur Corp. of Oneonta in April, adding 22 new branches in eight counties for approximately $103 million in cash and stock.