Common use of DIVISION OF DEATH PROCEEDS Clause in Contracts

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five percent (25%) of the net-at-risk insurance portion of the proceeds. The net-at-risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's ’s beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five one hundred percent (25100%) of the net-at-risk insurance portion of the proceeds. The net-at-risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs Paragraph VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five one hundred percent (25100%) of the net-at-net at risk insurance portion of the proceeds. The net-at-net at risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's ’s beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five the lesser of Two Hundred Thousand and 00/100th Dollars ($200,000.00) or one hundred percent (25100%) of the net-at-risk insurance portion of the proceeds. The net-at-risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs Paragraph VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the The Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five eighty percent (2580%) of the net-at-net at risk insurance portion of the proceeds. The net-at-net at risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, . excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's ’s beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five percent Sixty-Five Percent (2565%) of the net-at-risk insurance portion of the proceeds. The net-at-risk insurance portion is the total proceeds less the cash value of the policy. B. [Reserved]. C. The Bank shall be entitled to the remainder of such proceeds. C. D. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon If the death Insured has qualified for Normal Retirement as defined in Paragraph I at the time of the Insureddeath, the Insured's beneficiary(iesbeneficiary (ies), designated in accordance with Paragraph I and Paragraph III, shall be entitled to an amount equal to twenty five percent (25%) the lesser of $100,000 or the net-at-net amount at risk insurance portion of the proceeds. The net-at-net amount at risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs Paragraph VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the The Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an One Million and No/100ths Dollars ($1,000,000.00) or the net amount equal to twenty five percent (25%) of the net-at-at risk insurance portion of the proceeds, whichever amount is less. The net-at-net at risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty twenty-five percent (25%) of the net-at-net at risk insurance portion of the proceeds. The net-at-net at risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five eighty percent (2580%) of the net-at-risk insurance portion of the proceeds. The net-at-risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon Should the death Insured be employed by the Bank at the time of the Insureddeath, the Insured's beneficiary(ies’s beneficiary (ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five percent (25%) the lesser of $500,000 or the net-at-net amount at risk insurance portion of the proceeds. The net-at-net amount at risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.

DIVISION OF DEATH PROCEEDS. Subject to Paragraphs VII and IX herein, the division of the death proceeds of the policy is as follows: A. Upon the death of the Insured, the Insured's ’s beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to twenty five eighty percent (2580%) of the net-at-risk insurance portion of the proceeds. The net-at-risk insurance portion is the total proceeds less the cash value of the policy. B. The Bank shall be entitled to the remainder of such proceeds. C. The Bank and the Insured (or assignees) shall share in any interest due on the death proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.