Amount or Insurance. Executive shall have the right to specify initially ------------------- the Amount, which shall not be more than 5 times Executive's Compensation. Executive may thereafter increase the Amount as of April 1 of any subsequent year. If Executive is not then insurable at standard rates, the additional rating shall be paid by the Company. Any increase in the Amount shall be not less than $50,000.
Appears in 5 contracts
Samples: Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp), Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc), Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc)
Amount or Insurance. Executive shall have the right to specify ------------------- initially ------------------- the Amount, which shall not be more than 5 times Executive's Compensation. Executive may thereafter increase the Amount as of April 1 of any subsequent year. If Executive is not then insurable at standard rates, the additional rating shall be paid by the Company. Any increase in the Amount shall be not less than $50,000.
Appears in 2 contracts
Samples: Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp), Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp)
Amount or Insurance. Executive shall have the right to specify initially ------------------- the Amount, which shall not be more than 5 times Executive's ’s Compensation. Executive may thereafter increase the Amount as of April 1 of any subsequent year. If Executive is not then insurable at standard rates, the additional rating shall be paid by the Company. Any increase in the Amount shall be not less than $50,000.
Appears in 2 contracts
Samples: Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc), Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc)
