Common use of Health, Dental, Life and Disability Coverage Clause in Contracts

Health, Dental, Life and Disability Coverage. The Bank shall provide Executive with life, medical, dental and disability coverage made available by the Bank to its senior executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such coverage. Particularly, on the issue of life insurance, the Executive shall be covered under the terms of a group life insurance policy. In the event of the death of an Executive, the Bank shall pay the Executive’s Estate an amount equal to three (3) years of salary with a $1 million cap. The payment of these proceeds shall be from the coverage of the group life insurance policy the bank maintains with Hartford Life Insurance Company. A copy of the coverage from the Hartford Life Insurance Company is attached as Exhibit “A”. Any amount not covered by the Hartford Group Life Insurance will be covered to the extent the Bank BOLI covers that Executive up to one-half of the amount of the proceeds the bank receives on the death of that Executive.

Health, Dental, Life and Disability Coverage. The Bank shall provide Executive with life, medical, dental and disability coverage made available by the Bank to its senior executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such coverage. Particularly, on the issue of life insurance, the Executive shall be covered under the terms of a group life insurance policy. In the event of the death of an Executive, the Bank shall pay the Executive’s Estate an amount equal to three (3) years of salary with a $1 million cap. The payment of these proceeds shall be from the coverage of the group life insurance policy the bank maintains with Hartford Life Insurance Company. A copy of the coverage from the Hartford Life Insurance Company is attached as Exhibit “A”. Any amount not covered by the Hartford Group Life Insurance will be covered to the extent the Bank BOLI covers that Executive up to one-half of the amount of the proceeds the bank receives on the death of that Executive..