SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01 | Entry into Material Definitive Agreement |
On August 17, 2020, 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 10.1 and 10.2 and incorporated herein by reference. The agreements provide life insurance protection for the Insured’s family in the event of the Insured’s death. The death benefit will be equal to $10,000,000 for Barry R. Sloane and $5,000,000 for Linda Sloane Kay.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| 10.1 | Century Bank and Trust Split Dollar Life Insurance Agreement with Barry R. Sloane dated August 17, 2020. | |
| 10.2 | Century Bank and Trust Split Dollar Life Insurance Agreement with Linda Sloane Kay dated August 17, 2020. | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document). | |
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CENTURY BANCORP, INC. |
| /s/ William P. Hornby |
| William P. Hornby, CPA |
| Chief Financial Officer and Treasurer |
Dated: August 21, 2020