Employee’s Interest. The Employee, or the Employee’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in this Section 2.2. The Employee shall also have the right to elect and change settlement options with respect to the Employee’s Interest by providing written notice to the Bank and the Insurer.
Appears in 3 contracts
Samples: Dollar Life Insurance Agreement (SBT Bancorp, Inc.), Dollar Life Insurance Agreement (SBT Bancorp, Inc.), Dollar Life Insurance Agreement (SBT Bancorp, Inc.)
Employee’s Interest. The Employee, or the Employee’s assignee, shall have the right to designate the Beneficiary of an amount a portion of the Policy’s death proceeds as specified in this Section 2.2. The Employee shall also have the right to elect and change settlement options with respect to the Employee’s Interest by providing written notice to the Bank and the InsurerInterest.
Appears in 2 contracts
Samples: Split Dollar Life Insurance Agreement (Middlefield Banc Corp), Split Dollar Life Insurance Agreement (Middlefield Banc Corp)
Employee’s Interest. The Employee, or the Employee’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in this Section 2.2. The Employee shall also have the right to elect and change settlement options with respect to the Employee’s Interest by providing written notice to the Bank and the Insurer.
Appears in 1 contract
