CAMBRIDGE SAVINGS BANK
SALARY CONTINUATION PLAN
THIS AGREEMENT is made this 10th day of September, 1996 by and between CAMBRIDGE SAVINGS
BANK (the "Company"), and ______________ (the "Executive").
To encourage the Executive to remain an employee of the Company, the Company is willing to provide salary
continuation benefits to the Executive. The Company will pay the benefits from its general assets.
The Executive and the Company agree as follows:
1.1 Definitions. Whenever used in this Agreement, the following words and phrases shall have the meanings
1.1.1 "Change of Control" means the transfer of 51% or more of the Company's outstanding voting common
stock followed within twelve (12) months by the Executive's Termination of Employment for reasons other than
death, disability or retirement.
1.1.2 "Code" means the Internal Revenue Code of 1986, as amended. References to a Code section shall be
deemed to be to that section as it now exists and to any successor provision.
Defined Benefit -- Specified Amount
1.1.3 "Disability" means, if the Executive is covered by a Company-sponsored disability insurance policy, total
disability as defined in such policy without regard to any waiting period. If the Executive is not covered by such a
policy, Disability means the Executive suffering a sickness, accident or injury which, in the judgment of a physician
satisfactory to the Company, prevents the Executive from performing substantially all of the Executive's normal
duties for the Company. As a condition to any benefits, the Company may require the Executive to submit to
such physical or mental evaluations and tests as the Company's Board of Directors deems appropriate.
1.1.4 "Early Retirement Date" means the Executive attaining age FIFTY-FIVE
(55) or completing FIFTEEN (15) Years of Service.
1.1.5 "Normal Retirement Date" means the Executive attaining age SIXTY-FIVE (65).