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CNTRY BNC

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End-of-day quote Nasdaq  -  2021-11-11
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CENTURY BANCORP INC : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

02/18/2021 | 12:35pm EDT

Item 1.01 Entry into Material Definitive Agreement

On February 17, 2021, Century Bancorp, Inc.'s wholly owned subsidiary, Century Bank and Trust Company, entered into material definitive agreements with Barry R. Sloane and Linda Sloane Kay (the "Insureds"), copies of which are attached hereto as Exhibit 99.1 and 99.2 and incorporated herein by reference. The amended and restated agreements provide life insurance protection for each Insured's family in the event of the Insured's death. The death benefit increased to $20,000,000 from $10,000,000 for Barry R. Sloane and increased to $10,000,000 from $5,000,000 for Linda Sloane Kay.

Item 9.01 Financial Statements and Exhibits


(d) Exhibits



99.1              Split Dollar Life Insurance Agreement between Century Bank &
                Trust Company and Barry R. Sloane, as amended and restated, dated
                February 17, 2021.

99.2              Split Dollar Life Insurance Agreement between Century Bank &
                Trust Company and Linda Sloane Kay, as amended and restated, dated
                February 17, 2021.

Exhibit 104     Cover Page Interactive Data File (embedded within the Inline XBRL
                document).

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