Comparable Coverage. From and after the execution of this Agreement, the Bank shall maintain the Policies in full force and effect and in no event shall the Bank amend, terminate or otherwise abrogate the Executive’s Interest in the Policies, unless the Bank replaces the Policies with comparable insurance Policies to cover the benefit provided under this Agreement.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Sandy Spring Bancorp Inc)
Comparable Coverage. From and after the Upon execution of this Agreement, the Bank shall maintain the Policies Policy in full force and effect and in no event shall the Bank amend, terminate or otherwise abrogate the ExecutiveDirector’s Interest interest in the PoliciesPolicy. However, unless the Bank replaces may replace the Policies Policy with a comparable insurance Policies policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Bank’ creditors.
Appears in 1 contract
Samples: Director Split Dollar Agreement (First Farmers & Merchants Corp)
Comparable Coverage. From and after the Upon execution of this Agreement, the Bank shall maintain the Policies Policy in full force and effect and in no event shall the Bank amend, terminate or otherwise abrogate the Executive’s Interest in the PoliciesPolicy, unless the Bank replaces the Policies Policy. with comparable insurance Policies Insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of Bank’s creditors.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc)
Comparable Coverage. From and after the Upon execution of this Agreement, the Bank shall maintain the Policies Policy in full force and effect and in no event shall the Bank amend, terminate or otherwise abrogate the Executive’s Interest 's interest in the PoliciesPolicy, unless the Bank replaces the Policies Policy with a comparable insurance Policies policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of Bank's creditors.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (East Penn Financial Corp)
Comparable Coverage. From and after the Upon execution of this Agreement, the Bank shall maintain the Policies Policy in full force and effect and in no event shall the Bank amend, terminate or otherwise abrogate the ExecutiveTrustee’s Interest interest in the PoliciesPolicy. However, unless the Bank replaces may replace the Policies Policy with a comparable insurance Policies policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Bank’ creditors.
Appears in 1 contract
Samples: Trustee Split Dollar Agreement (Laurel Capital Group Inc)
