Employee’s Benefit. Upon the death of Employee, the Beneficiary shall be entitled to receive the amount of the death benefits equal to the Employee Death Benefit and the receipt of this amount by the Beneficiary shall constitute satisfaction of the Employee’s rights under this Agreement.
Appears in 17 contracts
Samples: Split Dollar Life Insurance Agreement (Salisbury Bancorp, Inc.), Split Dollar Life Insurance Agreement (Wilson Bank Holding Co), Split Dollar Life Insurance Agreement (Salisbury Bancorp, Inc.)
Employee’s Benefit. Upon the death of Employee, the Beneficiary shall be entitled to receive the an amount of the death benefits benefit equal to the Employee Death Benefit and the amount shown on Exhibit A, attached hereto. The receipt of this amount by the Beneficiary shall constitute satisfaction of the Employee’s rights under this Agreement.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Customers Bancorp, Inc.)
