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THE CENTURY BANCORP
SUPPLEMENTAL EXECUTIVE RETIREMENT
AND INSURANCE PLAN
PURSUANT
to Section 8.4 of the Century Bancorp Supplemental Executive
Retirement and Insurance Plan, as amended and restated effective as
of December 1, 2008 (the “ Plan ”), Century
Bancorp, Inc. hereby amends Section 6.1 of the Plan to read in
its entirety as follows, effective generally as of May 12,
2009 but only as to Participants who die on or after that
date:
No benefits are
payable upon death under this Plan, except as follows:
(a) DEATH
AFTER COMMENCEMENT OF BENEFITS
In the case of
a Participant who dies after the commencement of his retirement
benefits under the Plan, payment of such benefits shall continue
after the Participant’s death, if at all, only to the extent
provided under the form of retirement benefit elected under Article
V hereof.
(b) DEATH
BEFORE COMMENCEMENT OF BENEFITS
(1) In the
case of a Participant who dies before the commencement of his
retirement benefits under the Plan, and before termination
of employment, no benefits shall be payable under the Plan on
account of the Participant’s death. In that event, the
Participant’s Beneficiary or estate shall have the rights, if
any, specified in the life insurance policies required to be
purchased and maintained pursuant to the other provisions of this
Article VI.
(2) In the
case of a Participant who dies before the commencement of his
retirement benefits under the Plan, but after termination of
employment, then i. or ii. below, whichever is applicable, shall
apply:
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i.
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If
the Participant is survived by his spouse, and has attained age
fifty-five (55) and comp
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