Description of Supplemental Long Term Disability Plan

Exhibit 10(gg)

Description

of

Supplemental Long Term Disability Plan

Under the Bank’s Group Long Term Disability Insurance Policy (the “Policy”), employees may be entitled to disability benefits of 60% of base salary, subject to certain Policy dollar limits. The Bank has made available to its senior executives, including Messrs. Stepanian and Gifford, a supplemental long term disability plan which provides a disability benefit equal to the benefit not covered under the Policy because of Policy dollar limits, thus enabling the senior executives to receive a long term disability benefit of 60% of base salary.