Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 below.
Appears in 33 contracts
Samples: Split Dollar Agreement (Sb Financial Group, Inc.), Split Dollar Agreement, Split Dollar Agreement (Cortland Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership, except that the Bank shall not sell, surrender, or transfer ownership of a Policy without the Insured’s consent so long as the Insured has an interest in the Policy as described in section 2.2. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 below.
Appears in 10 contracts
Samples: Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the ExecutiveDirector’s interest is has been paid according to section 2.2 belowunder Section 2.2.
Appears in 10 contracts
Samples: Split Dollar Agreement (Central Valley Community Bancorp), Split Dollar Agreement (Central Valley Community Bancorp), Split Dollar Agreement (Central Valley Community Bancorp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s 's interest is has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 9 contracts
Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Intermountain Community Bancorp), Salary Continuation and Split Dollar Agreement (First Northern Community Bancorp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is Executive Interest has been paid according to section Section 2.2 below.
Appears in 9 contracts
Samples: Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is Interest has been paid according to section Section 2.2 below.
Appears in 7 contracts
Samples: Endorsement Split Dollar Agreement, Endorsement Split Dollar Agreement (Midcarolina Financial Corp), Endorsement Split Dollar Agreement (BNC Bancorp)
Bank Ownership. The Bank is and at all times shall be the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Interest of the Executive or the Executive’s interest is 's transferee has been paid according to section Section 2.2 below.
Appears in 6 contracts
Samples: Split Dollar Agreement (Columbia Bancorp \Or\), Split Dollar Agreement (Columbia Bancorp \Or\), Split Dollar Agreement (Columbia Bancorp \Or\)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s 's interest is paid according to section Section 2.2 below.
Appears in 5 contracts
Samples: Split Dollar Agreement (Cortland Bancorp Inc), Split Dollar Agreement (Cortland Bancorp Inc), Split Dollar Agreement (Cortland Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest Interest is paid according to section Section 2.2 below.
Appears in 5 contracts
Samples: Endorsement Split Dollar Agreement (Bank of Wilmington CORP), Endorsement Split Dollar Agreement (Bank of Wilmington CORP), Endorsement Split Dollar Agreement (Bank of Wilmington CORP)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership, except that the Bank shall not sell, surrender, or transfer ownership of a Policy without the Insured’s consent, so long as the Insured has an interest in the Policy as described in section 2.2. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 below.
Appears in 4 contracts
Samples: Endorsement Split Dollar Agreement (BNC Bancorp), Endorsement Split Dollar Agreement (BNC Bancorp), Endorsement Split Dollar Agreement (BNC Bancorp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy remaining after the Executive’s 's interest is paid determined according to section 2.2 Section 4.2 below.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc), Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc), Supplemental Executive Retirement Plan Agreement (East Penn Financial Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is Interest has been paid according to section 2.2 below.
Appears in 4 contracts
Samples: Endorsement Split Dollar Agreement, Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s 's interest is has been paid according to section under Section 2.2 belowof this Amended Split Dollar Agreement.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Unizan Financial Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Interest of the Executive or the Executive’s interest is transferee has been paid according to section Section 2.2 below.
Appears in 3 contracts
Samples: Split Dollar Agreement (Temecula Valley Bancorp Inc), Split Dollar Agreement (Temecula Valley Bancorp Inc), Split Dollar Agreement (Temecula Valley Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest Executive Interest is paid according to section 2.2 belowSection 2.2.
Appears in 3 contracts
Samples: Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the ExecutiveDirector’s interest is Interest has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 3 contracts
Samples: Director Split Dollar Agreement (Cullman Bancorp, Inc. /MD/), Director Split Dollar Agreement (Cullman Bancorp, Inc.), Director Split Dollar Agreement (Cullman Bancorp, Inc.)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s interest is Interest has been paid according to section under Section 2.2 belowof this Executive Split Dollar Agreement.
Appears in 3 contracts
Samples: Executive Split Dollar Agreement (BV Financial, Inc.), Executive Split Dollar Agreement (Hamilton Bancorp, Inc.), Executive Split Dollar Agreement (Hamilton Bancorp, Inc.)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s interest is has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy Policies and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the Policies to the extent of each Policy’s cash surrender value, if any, plus any death benefits remaining death proceeds of the Policy after applying those amounts explicitly assigned to the Executive’s interest is paid according beneficiary pursuant to section Section 2.2 below.
Appears in 2 contracts
Samples: Split Dollar Agreement (LaPorte Bancorp, Inc.), Split Dollar Agreement (LaPorte Bancorp, Inc.)
Bank Ownership. The Bank is the sole owner of the Policy any insurance policies utilized to informally fund this arrangement and shall have the right to exercise all incidents of ownership. The Bank shall be the sole beneficiary of the remaining all death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 belowPolicies.
Appears in 2 contracts
Samples: Supplement Executive Retirement Plan Agreement (First Perry Bancorp, Inc), Supplement Executive Retirement Plan Agreement (First Perry Bancorp, Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s interest is 's Interest has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 2 contracts
Samples: Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the ExecutiveEmployee’s interest is Interest has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 2 contracts
Samples: Split Dollar Agreement (NBT Bancorp Inc), Split Dollar Agreement (Alliance Financial Corp /Ny/)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right right, to the extent of its interest, to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is of the Executive has been paid according to section Section 2.2 below.
Appears in 2 contracts
Samples: Endorsement Split Dollar Agreement (Federal Home Loan Bank of Boston), Split Dollar Agreement (Federal Home Loan Bank of Boston)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s interest is Interest has been paid according to section under Section 2.2 belowof this Agreement.
Appears in 2 contracts
Samples: Executive Split Dollar Agreement (Melrose Bancorp, Inc.), Executive Split Dollar Agreement (Melrose Bancorp, Inc.)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the ExecutiveDirector’s interest is has been paid according to section under Section 2.2 belowof this Split Dollar Agreement and Endorsement.
Appears in 2 contracts
Samples: Split Dollar Agreement (Central Valley Community Bancorp), Split Dollar Agreement (Central Valley Community Bancorp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s Director's interest is has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 1 contract
Samples: Director Split Dollar Agreement (Newmil Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and -------------- shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s 's interest is paid according to section 2.2 below.
Appears in 1 contract
Samples: Split Dollar Agreement (BNC Bancorp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds remaining after the interest of the Policy after the Executive’s interest is _______________ Irrevocable Insurance Trust has been paid according to section under Section 2.2 belowof this Split Dollar Agreement.
Appears in 1 contract
Samples: Split Dollar Agreement (Unb Corp/Oh)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents Incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy remaining after the Executive’s interest Interest is paid determined according to section 2.2 Section 4.2 below.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s 's interest is has been paid according to section Section 2.2 below.
Appears in 1 contract
Bank Ownership. The Bank is the sole owner of the Policy Policies and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the Policies to the extent of each Policy’s cash surrender value plus any death benefits remaining death proceeds of the Policy after applying those amounts explicitly assigned to the Executive’s interest is paid according beneficiary pursuant to section Section 2.2 below.
Appears in 1 contract
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s interest is Interest has been paid according to section under Section 2.2 belowof this Agreement.
Appears in 1 contract
Samples: Split Dollar Insurance Agreement (CB Financial Services, Inc.)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the ExecutiveOfficer’s interest is Interest has been paid according to section Section 2.2 below.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Midcarolina Financial Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the direct beneficiary of the remaining death proceeds of the Policy remaining after the ExecutiveTrustee’s interest is paid determined according to section Section 2.2 below.
Appears in 1 contract
Samples: Trustee Split Dollar Agreement (Laurel Capital Group Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s 's interest is has been paid according to section under Section 2.2 below.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Cortland Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 below.
Appears in 1 contract
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s 's interest is paid according to section 2.2 below.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (First South Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the direct beneficiary of the remaining death proceeds of the Policy remaining after the ExecutiveDirector’s interest is paid determined according to section Section 2.2 below.
Appears in 1 contract
Samples: Director Split Dollar Agreement (Juniata Valley Financial Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s interest is has been paid according to section under Section 2.2 below.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Cortland Bancorp Inc)
Bank Ownership. The Bank is the sole owner of the Policy Policies and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining my death proceeds of the Policy remaining after the Executive’s Director's interest is has been paid according to section under Article 2.2 belowof this Split Dollar Agreement.
Appears in 1 contract
Samples: Director Retirement Agreement (American River Bankshares)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the direct beneficiary of the remaining death proceeds of the Policy remaining after the Executive’s Director's interest is paid determined according to section Section 2.2 below.
Appears in 1 contract
Samples: Director Split Dollar Agreement (Juniata Valley Financial Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining any death proceeds of the Policy remaining after the Executive’s 's interest is has been paid according pursuant to section 2.2 below.Article 2.2
Appears in 1 contract
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the direct beneficiary of the remaining death proceeds of the Policy remaining after the ExecutiveDirector’s interest is paid determined according to section Section 2.2 below.
Appears in 1 contract
Samples: Director Split Dollar Agreement (First Farmers & Merchants Corp)
Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Interest of the Executive or the Executive’s interest is 's transferee has been paid according to section Section 2.2 below.
Appears in 1 contract
