CAMBRIDGE TRUST COMPANY SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
Exhibit 10.10
CAMBRIDGE TRUST COMPANY
SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
For Xxxxxxx X. Xxxx
FIRST AMENDMENT
Cambridge Trust Company (the “Bank”) and Xxxxxxx Xxxx (the “Executive”), having reserved in Section 8.1 the power to amend the Cambridge Trust Company Supplemental Executive Retirement Agreement, adopted as of August 14, 2008 (the “Agreement”), hereby amend the Agreement as set forth below effective immediately.
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1. Amount of Early Termination Benefit. Section 2.2.1 of the Agreement shall be amended in its entirety as follows.
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2.2.1 |
Amount of Benefit. Provided the Executive has a Separation from Service on or about February 28, 2017, the benefit under this Section 2.2 shall be the benefit determined under Section 2.1.1 based on an assumed Separation from Service at Executive's Normal Retirement Age (October 26, 2017). |
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2. Except as hereinabove specifically amended, all provisions of the Agreement shall continue in full force and effect; provided, however, that the Bank and Executive hereby reserve the power from time to time to further amend the Agreement as provided in Section 8.1 therein.
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IN WITNESS WHEREOF, the Bank and Executive have caused this First Amendment of the Agreement to be executed this 22nd day of December, 2016.
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EXECUTIVE |
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CAMBRIDGE TRUST COMPANY |
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/s/ Xxxxxxx X. Xxxx |
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/s/ Xxxxx Xxxxx |
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Xxxxxxx X. Xxxx |
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Xxxxx Xxxxx, SVP, Director of Human Resources |
