Death Prior to Separation from Service. If the Executive dies while employed by the Bank, the Executive’s Beneficiary shall be entitled to a benefit equal to fifty percent (50%) of the Net Death Proceeds.
Appears in 3 contracts
Samples: Supplemental Life Insurance Agreement (River Valley Bancorp), Split Dollar Agreement (Centerstate Banks of Florida Inc), Split Dollar Agreement (Centerstate Banks of Florida Inc)
Death Prior to Separation from Service. If the Executive dies while employed by the BankCompany, the Executive’s 's Beneficiary shall be entitled to a benefit equal to one hundred fifty percent thousand dollars (50%) of $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 Bank, the Executive’s Beneficiary shall be entitled to a benefit equal to fifty one hundred percent (50100%) of the Net Death ProceedsProceeds minus the benefit amounts paid to the Executive’s beneficiary pursuant to Agreement 1 and Agreement 2.
Appears in 2 contracts
Samples: Supplemental Life Insurance Agreement (Northern California Bancorp Inc), Supplemental Life Insurance Agreement (Northern California Bancorp Inc)
