Back to top

THE CENTURY BANCORP SUPPLEMENTAL EXECUTIVE RETIREMENT AND INSURANCE PLAN First Amendment

Addendum or Modifications

THE CENTURY BANCORP SUPPLEMENTAL EXECUTIVE RETIREMENT AND INSURANCE PLAN First Amendment | Document Parties: CENTURY BANCORP INC | Century Bancorp, Inc You are currently viewing:
This Addendum or Modifications involves

CENTURY BANCORP INC | Century Bancorp, Inc

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: THE CENTURY BANCORP SUPPLEMENTAL EXECUTIVE RETIREMENT AND INSURANCE PLAN First Amendment
Date: 7/16/2009
Industry: Regional Banks     Sector: Financial

THE CENTURY BANCORP SUPPLEMENTAL EXECUTIVE RETIREMENT AND INSURANCE PLAN First Amendment, Parties: century bancorp inc , century bancorp  inc
50 of the Top 250 law firms use our Products every day

Exhibit 99.1

THE CENTURY BANCORP
SUPPLEMENTAL EXECUTIVE RETIREMENT
AND INSURANCE PLAN

First Amendment

      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:

     6.1 IN GENERAL

     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:

 

i.

 

If the Participant is survived by his spouse, and has attained age fifty-five (55) and comp


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more