Director’s Interest. The Director, or the Director’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in Section 2.2.1 and 2.2.2. The Director shall also have the right to elect and change settlement options with respect to the Director’s Interest by providing written notice to the Bank and the Insurer.
Appears in 6 contracts
Samples: Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc)
Director’s Interest. The Director, or the Director’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in Section 2.2.1 and 2.2.22.2.1. The Director shall also have the right to elect and change settlement options with respect to the Director’s Interest by providing written notice to the Bank Company and the Insurer.
Appears in 2 contracts
Samples: Split Dollar Agreement (First Community Financial Corp), Split Dollar Agreement (First Community Financial Corp)
Director’s Interest. The Director, or the Director’s assignee, Director shall have the right to designate the Beneficiary beneficiary of an amount equal to 100 percent of death proceeds as specified in Section 2.2.1 and 2.2.2the Net Death Proceeds of the Policy. The Director shall also have the right to elect and change settlement options with respect to the Director’s Interest by providing written notice to the Bank and the Insurerthat may be permitted.
Appears in 2 contracts
Samples: Agreement (Cooperative Bankshares Inc), Agreement (Cooperative Bankshares Inc)
Director’s Interest. The Director, or the Director’s assignee, Director shall have the right to designate the Beneficiary of an amount beneficiary of death proceeds as specified in Section 2.2.1 and 2.2.2the amount of $100,000. The Director shall also have the right to elect and change settlement options with respect to specified in the Director’s Interest by providing written notice to the Bank and the InsurerPolicy that may be permitted.
Appears in 1 contract
Director’s Interest. The Director, or the Director’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in Section 2.2.1 and 2.2.22.2.1. The Director shall also have the right to elect and change settlement options with respect to the Director’s Interest by providing written notice to the Bank and the Insurer.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Alamogordo Financial Corp)
Director’s Interest. The Director, or the Director’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in Section 2.2.1 and 2.2.2equal to eighty percent (80%) of the Net Death Proceeds. The Director shall also have the right to elect and change settlement options with respect to the Director’s Interest by providing written notice to the Bank and the Insurer.
Appears in 1 contract
Samples: Supplemental Life Insurance Agreement (Ameriana Bancorp)
