POLONIA FEDERAL SAVINGS AND LOAN
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
FOR ANTHONY J. SZUSZCZEWICZ
The purpose of the Polonia Federal Savings and Loan Supplemental Executive Retirement Plan for Anthony J.
Szuszczewicz (the “Plan”) is to provide for supplemental retirement and other retirement benefits for Anthony J. Szuszczewicz
(the “Participant”), currently the President of Polonia Federal Savings and Loan (the “Bank”) as part of an integrated executive
compensation program which is intended to assist the Bank in motivating and retaining a select group of management and
highly compensated executives of superior ability and loyalty.
The following words and phrases as used herein shall have the following meanings, unless a different meaning is plainly
required by the context:
“Actual Retirement Date” shall mean the first day of the calendar month coincident with or following the last day on which
the Participant receives Compensation.
“Committee” shall mean that committee appointed as the administrative committee with respect to the Plan by the Board of
Directors of the Bank.
“Bank” shall mean Polonia Bank, a Federally-chartered mutual thrift, and successors thereto.
“Compensation” shall mean the Participant’s annual gross taxable income as shown on his Federal Form W-2 for the last
full year of his employment with the Bank prior to his Retirement Date.
“Disability” shall have the same meaning as in use for purposes of the Bank’s long-term disability plan, if any, covering
the Participant, and shall otherwise mean any physical or mental incapacity that would prevent the Participant from performing
his duties as an employee of the Bank.
“Retirement Date” shall mean the date on which the Participant retires from his employment with the Bank at his discretion
after attaining age sixty-two (62), or as a result of his Disability.
3. ELIGIBILITY TO PARTICIPATE
The Participant shall be the only participant in the Plan, unless the Plan is am