Application of Insurance. The Company will apply to the Insurer for a ------------------------- Policy with a face amount at least equal to the amount of insurance to which the Executive is entitled under the Plan. The Company may apply for additional insurance to insure payment to the Company of the Recoverable Amount. The Company and the Executive agree to take any action necessary to cause the Insurer to issue the Policy. The Policy shall be subject to the terms of this Agreement.
Appears in 4 contracts
Samples: Dollar Life Insurance Agreement (Pocahontas Bankshares Corp), Dollar Life Insurance Agreement (First Century Bankshares Inc), Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp)
Application of Insurance. The Company will apply to the Insurer for a ------------------------- Policy with a face amount at least equal to the amount of insurance to which the Executive is entitled under the Plan. The Company may apply for additional insurance to insure payment to the Company of the Recoverable Amount. The Company and the Executive agree to take any action necessary to cause the Insurer to issue the Policy. The Policy shall be subject to the terms of this Agreement.
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)
Application of Insurance. The Company will apply to the Insurer for ------------------------- a ------------------------- Policy with a face amount at least equal to the amount of insurance to which the Executive is entitled under the Plan. The Company may apply for additional insurance to insure payment to the Company of the Recoverable Amount. The Company and the Executive agree to take any action necessary to cause the Insurer to issue the Policy. The Policy shall be subject to the terms of this Agreement.
Appears in 2 contracts
Samples: Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp), Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp)
Application of Insurance. The Company will apply to the Insurer for a ------------------------- ------------------------ Policy with a face amount at least equal to the amount of insurance to which the Executive is entitled under the Plan. The Company may apply for additional insurance to insure payment to the Company of the Recoverable Amount. The Company and the Executive agree to take any action necessary to cause the Insurer to issue the Policy. The Policy shall be subject to the terms of this Agreement.
Appears in 1 contract
Samples: Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc)
