Death Prior to Separation from Service. If the Executive dies while employed by the Company, the Executive's Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars ($150,000), provided that such benefit shall not exceed the Net Death Proceeds.
Appears in 3 contracts
Samples: Supplemental Life Insurance Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc)
Death Prior to Separation from Service. If the Executive dies while employed by the CompanyBank, the Executive's ’s Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars percent ($150,000), provided that such benefit shall not exceed 50%) of the Net Death Proceeds.
Appears in 3 contracts
Samples: Split Dollar Agreement (Centerstate Banks of Florida Inc), Split Dollar Agreement (Centerstate Banks of Florida Inc), Supplemental Life Insurance Agreement (River Valley Bancorp)
Death Prior to Separation from Service. If the Executive dies while employed by the Companyprior to Separation from Service, the Executive's Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars Seven Hundred Fifty Thousand Dollars ($150,000750,000), increased by four percent (4%) on each annual anniversary of the Effective Date; provided that however, such benefit shall not exceed the Net Death Proceeds.
Appears in 1 contract
Samples: Endorsement Split Dollar Insurance Agreement (SBT Bancorp, Inc.)
Death Prior to Separation from Service. If the Executive dies while employed by the Companyprior to Separation from Service, the Executive's Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars the lesser of (i) Eight Hundred Thousand Dollars ($150,000), provided that such benefit shall not exceed 800,000) or (ii) the Net Death Proceeds.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Valley Commerce Bancorp)
