Common use of Additional Survivor Death Benefit from Life Insurance Clause in Contracts

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ Face value of life insurance policy of Participant, if any. ¨ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ Other: [enter amount or formula]

Appears in 4 contracts

Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Main Street Capital CORP), Adoption Agreement (Kraft Foods Inc), Executive Deferred Compensation Plan Adoption Agreement (Mondelez International, Inc.)

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Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ Face value of life insurance policy of Participant, if any. ¨ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ Other: [enter amount or formula]

Appears in 2 contracts

Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (C & F Financial Corp), Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Carter Bankshares, Inc.)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ Face value of life insurance policy of Participant, if any. ¨ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ Other: [enter amount or formula]

Appears in 1 contract

Samples: Nonqualified Supplemental Deferred Compensation Plan (Spirit of Texas Bancshares, Inc.)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x ý No additional Survivor Benefit offered, but rather Participant’s 's vested Account balance. ¨ o Face value of life insurance policy of Participant, if any. ¨ o Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s 's vested Account balance. ¨ o Other: [enter amount or formula]] ________

Appears in 1 contract

Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Eog Resources Inc)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following optionsoptions : [select one] x o No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ .. o Face value of life insurance policy of Participant, if any. ¨ o Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ þ Other: [enter amount or formula]] The greater of the Participant’s account balance or $300,000.00.

Appears in 1 contract

Samples: Nonqualified Supplemental Deferred Compensation Plan (Ultratech Inc)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ Face value of life insurance policy of Participant, if any. ¨ ​ ☐ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ Other: [enter amount or formula]] _____

Appears in 1 contract

Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Atlantic Union Bankshares Corp)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ o Face value of life insurance policy of Participant, if any. ¨ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ Other: [enter amount or formula].

Appears in 1 contract

Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Eog Resources Inc)

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Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x ¨ No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ Face value of life insurance policy of Participant, if any. ¨ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ x Other: [enter amount or formula]] 50% of the death benefit of the policy

Appears in 1 contract

Samples: Nonqualified Deferred Compensation Plan Adoption Agreement (Quanta Services Inc)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following optionsoptions : [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ Face value of life insurance policy of Participant, if any. ¨ Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ Other: [enter amount or formula]

Appears in 1 contract

Samples: Kraft Executive Deferred Compensation Plan Adoption Agreement (Kraft Foods Inc)

Additional Survivor Death Benefit from Life Insurance. In the event that life insurance is utilized as a funding vehicle for the Plan, the Employer may wish to provide additional Survivor Benefit from the following options: [select one] x No additional Survivor Benefit offered, but rather Participant’s vested Account balance. ¨ o Face value of life insurance policy of Participant, if any. ¨ o Greater of (a) face value of life insurance policy of Participant, if any, or (b) Participant’s vested Account balance. ¨ o Other: [enter amount or formula]

Appears in 1 contract

Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Main Street Capital CORP)

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