Eastern Bank is committed to offering its employees the most comprehensive benefits package possible. We monitor industry best practices and solicit input from our employees to ensure that our benefits package remains as attractive as possible. Below is a brief overview of the benefits available to Eastern Bank employees.

401(k) Plan
Eastern Bank has a 401(k) Plan with SBERA (Savings Bank Employees Retirement Association) that allows employees to contribute savings on a tax-deferred basis. Contributions can be made from 75% of your annual salary up to legal dollar contribution amounts towards your 401(k) fund. This contribution is made before taxes are calculated, which reduces your taxable wage base. Our current 401(k) match is 50 cents for each dollar you contribute up to 6% of pay for a maximum match of 3%. Employees who are 21 years of age and have completed one year of service are eligible to participate in our 401(k) plan. Our 401(k) Plan offers several investment options, including a broad selection of equity accounts, a bond account and a money market account.

Pension Plan
Eastern Bank participates in the SBERA (Savings Bank Employees Retirement Association) Pension Plan for its employees. Your Accrued Benefit will be a 100% vested after 5 years of service with Eastern Bank. The Bank makes a contribution, on your behalf, by a calculation based on your age, years of service and salary. Your retirement benefit at age 65 is based on the average of the highest three consecutive years of compensation in your years of employment with the Bank. Employees who are 21 years of age and have completed one year of service are eligible for this benefit.

Education Reimbursement
It is the policy to encourage and support all Eastern Bank employees in their efforts to learn and advance in their careers. Our training department offers internal programs concerning operational and technical training, management and supervisory development, product knowledge, sales training and employee wellness. Eastern Bank offers tuition reimbursement for full time employees for both undergraduate and graduate degrees after one year of continuous service. In addition, Eastern Bank has formed partnerships with the New England College of Finance and New Horizons Computer Centers to provide and offer employees additional product and technical training outside of the workplace.

Health Insurance
We offer Tufts Health Plan with a choice of three HMO plans as well as a PPO plan for our employees. Full-time employees may choose any of our four participating plans. Employees may choose either an individual or family plan. All plans are cost shared by the Bank and the employee. Eligibility for full time employee enrollment begins on the first day of the month following the date of hire. Part-time employees are not eligible to participate in our health insurance plans.

Dental Care
Eastern Bank offers dental insurance to full time employees beginning the first of the month after the date of hire and after attaining the age of 18.

Life Insurance
Our life insurance plan provides all full-time employees, after three months of continuous service, the amount of three times your annual salary up to a maximum limit of $1,000,000.  Eligibility begins after 90 days of continuous service.

Vision Care and Hearing Care
Full time employees are eligible to participate in our Vision and Hearing Care benefit, a portion of the cost is paid for by Eastern Bank through the Voluntary Employee Benefit Association (VEBA). Under this benefit, all employees may annually receive up to $100.00 reimbursement for the purchase of eyeglasses or contact lenses. Employees who are not participants in one of our health insurance plans, may be reimbursed up to $50.00 annually for an eye examination.  Employees who do participate in one of the bank sponsored health insurance plans may be reimbursed up to $15.00 for an eye exam.  In addition, employees may also receive up to $500 for one hearing aid annually or $750 for two. Eligibility for this benefit is available to full time employees as of the first of the month after the date of hire and after attaining the age of 18.

Short-Term Disability
Full time employees are eligible for short-term disability leave after completing 90 days of continuous service.  This provides employees with a continuation of salary for up to 90 calendar days when they are out of work for more than five days, due to medical reasons.  Salary continuation is based on years of service.

Long-Term Disability
Full-time employees are eligible for coverage under the Bank’s Long Term Disability Insurance plan after 90 days of continuous service.  If an employee remains totally disabled and unable to work for over 90 calendar days, the employee may apply for Long Term Disability benefits.  Employees approved for Long-Term Disability may receive up to 60% of pay to a maximum monthly benefit of $15,000 paid by the Bank.

Holidays
Eastern Bank observes 10 holidays per year. Regular full time employees are paid for all of the specified holidays providing that you are in work the day before and after the holiday and if the holiday falls on a scheduled work day.

Part time employees are paid for the hours you normally would have been scheduled to work providing the holiday falls on a scheduled work day.

Vacation Policy
Vacation time is accrued on a monthly basis beginning on January 1st of each year. During the first year of employment, vacation time is prorated based on your date of hire. After the first calendar year of employment, full time employees receive the following paid vacation as of January 1st:

Length of Continuous Service	Total Accrual in Current Year
One Year through Four Years	Two Weeks
Five years through Ten Years	Three Weeks
Eleventh calendar year and beyond	Four Weeks

Officers & AVP's
One Year through Five Years	Three Weeks
Sixth calendar year and beyond	Four Weeks

VP's and above

4 weeks regardless of years of service

Part time schedule is the same as full time.

All employees are given the opportunity to purchase three to five additional days of vacation annually on a pre-tax basis through our Vacation Purchase Plan.

Sick Time and Personal Time
Full Time employees are eligible for sick time and personal time after 90 days of continuous service.  Employees will receive five days of sick time for up to two years of service and eight days of sick time for over two years of service.

All full time employees will receive two personal days per year regardless of years of service.

Flexible Spending Accounts
Eastern Bank offers full time employees the option of enrolling in a Dependent Care Account and/or Health Care Account.  This program allows an employee to contribute to these accounts, through payroll deduction, a portion of pretax income to pay for uncovered medical/dental/vision expenses and dependent care expenses.  Employees may contribute up to $5000 per plan year to each of these accounts.  Eligibility begins the first of the month after the date of hire.

Bank Services
As an Eastern Bank employee, you are offered a variety of deposit and loan accounts that provide preferential account benefits and features. The following services are offered to both full time and part time employees:

• Employee Select Checking Account
• Select Money Market Account
• Passbook Savings
• Ability to borrow from our Mortgage Banking or Consumer Lending Division
• Free Internet Banking
• Employee discounts on movie tickets, amusement parks, cellular phone services and more!