Common use of Index Clause in Contracts

Index. The “Index” for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on December 31, 2003. Insurance Company: Jefferson Pilot Life Insurance Company Policy Form: Single Premium Adjustable Life Policy Name: ESP VI Insured’s Age and Sex: 52, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 Premiums Paid $94,500 Number of Premium Payments Single Assumed Purchase Date December 28, 2001 Insurance Company Mass Mutual Life Insurance Company Policy Form: Single Premium Adjustable Life Policy Name: Strategic Life Executive Insured’s Age and Sex: 53, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 Premiums Paid $94,500 Number of Premium Payments Single Assumed Purchase Date December 28, 2001 If such contracts of life insurance are actually purchased by the Bank then the actual policies as of the dates they were purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased from the above named insurance company(ies) on the Effective Date from which the increase in policy value will be used to calculate the amount of the Index. In either case, references to the life insurance contract are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on December 31, 2003. Insurance Company: Jefferson Pilot Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Insured’s Age and Sex: 5247, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 268,000 Premiums Paid $94,500 98,500 Number of Premium Payments Single Assumed Purchase Date December 28, 2001 Insurance Company Mass Mutual Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive Insured’s Age and Sex: 5348, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 280,725 Premiums Paid $94,500 98,500 Number of Premium Payments Single Assumed Purchase Date December 28, 2001 If such contracts of life insurance are actually purchased by the Bank then the actual policies as of the dates they were purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased from the above named insurance company(ies) on the Effective Date from which the increase in policy value will be used to calculate the amount of the Index. In either case, references to the life insurance contract are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year year shall be the aggregate annual after-tax income from the life insurance contracts described hereinafter as defined by FASB Technical Bulletin 85-44 as in effect on the date of this Agreement or as modified if such modification is to the benefit of the Executive. This Index shall be applied as if such insurance contracts were purchased on December 31, 2003. the effective date hereof Insurance Company: Jefferson Pilot Union Central Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Ins. Policy Name: ESP VI BXXX UL Insured’s Age and Sex: 52, 44 Male Riders: None Ratings: None Standard Tobacco Option: Level Death Benefit Option A Face Amount: $222,000 3,174,558 Premiums Paid Paid: $94,500 500,000 Number of Premium Payments Single Premiums Remaining: Four at $175,000, due 12/02, 12/03, 12/04 or 12/05 Assumed Purchase Date December 28, 2001 Date: 5/29/02 Insurance Company Mass Company: Massachusetts Mutual Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Ins. Policy Name: Strategic Life Executive Exec. Insured’s Age and Sex: 53, 44 Male Riders: None Ratings: None Standard Tobacco Option: Level Death Benefit Option 1 Face Amount: $230,580 984,750 Premiums Paid Paid: $94,500 325,000 Number of Premium Payments Single Premiums Remaining: None Assumed Purchase Date December 28, 2001 Date: 5/29/02 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, . then the Bank shall receive annual policy illustrations that assume the above-above described policies were purchased from the above above-named insurance company(ies) on the Effective Date effective date from which the increase in policy value will be used to calculate the amount of the Index. In either case, references to the life insurance contract are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s his beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on December 31, 2003the effective date hereof. Insurance Company: Jefferson Pilot Security Life Insurance Company of Denver Policy Form: Single Premium Adjustable Whole Life Policy Name: ESP VI Corp IV Insured’s Age and Sex: 5240, Male Riders: None Ratings: None Option: Level Death Benefit Face Amount: $222,000 319,582 Premiums Paid Paid: $94,500 107,000 Number of Premium Payments Single Payments: One Assumed Purchase Date December 28Date: May 22, 2001 1998 Insurance Company Mass Mutual Life Insurance Company Company: Jefferson Pilot Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive Security Plan VI Insured’s Age and Sex: 5342, Male Riders: None Ratings: None Option: Level Death Benefit Face Amount: $230,580 Premiums Paid 270,000 Cash Surrender Value as of 12/31/05: $94,500 99,658 Number of Premium Payments Single Payments: One Assumed Purchase Date Cash Value Date: December 2831, 2001 2005 Insurance Company: Union Central Life Insurance/SLD Policy Form: Universal Life Insurance Name: COLI UL Insured’s Age and Sex: 42, Male Riders: None Ratings: None Option: Level Death Benefit Face Amount: $288,400 Cash Surrender Value as of 12/31/05: $99,687 Number of Premium Payments: One Assumed Cash Value Date: December 31, 2005 If such contracts of life insurance are actually purchased by the Bank then the actual policies as of the dates they were purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered surrendered, lapsed or lapsedthe Insured has pre-deceased the executive, then the Bank shall receive annual policy illustrations that assume the above-above described policies were purchased from the above named insurance company(ies) on the Effective Date from which the increase in policy value will be used to calculate the amount of the Index. In either case, references to the life insurance contract are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year year shall be the aggregate annual after-tax income from the life insurance contracts described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on December 31, 2003the effective date hereof. Insurance Company: Jefferson Pilot Xxxxxxxxx Xxxxxxxx Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Executive Security Plan IV Insured’s Age and Sex: 5247, Male Rulers: None Ratings: According to the health of the insured Option: B, Level Face Amount: $272,000 Premiums Paid: $100,000 Number of Premiums Paid: One Assumed Purchase Date: August 4, 1998 Insurance Company: Canada Life Assurance Policy Form: Whole Life Policy Name: C/L 3 Insured’s Age and Sex: 47, Male Riders: None Ratings: None Option: Level Not Applicable Face Amount: $222,000 308,379 Premiums Paid Paid: $94,500 100,000 Number of Premium Payments Single Premiums Paid: One Assumed Purchase Date December 28Date: August 4, 2001 Insurance Company Mass Mutual Life Insurance Company Policy Form: Single Premium Adjustable Life Policy Name: Strategic Life Executive Insured’s Age and Sex: 53, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 Premiums Paid $94,500 Number of Premium Payments Single Assumed Purchase Date December 28, 2001 1998 If such contracts of life insurance are actually purchased by the Bank then the actual policies as of the dates they were purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-above described policies were purchased from the above named insurance company(ies) on the Effective Date effective date from which the increase in policy value will be used to calculate the amount of the Index. In either case, references to the life insurance contract are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s his beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts contract(s) were purchased on December 31, 2003the Effective Date of the Executive Plan. Insurance Company: Jefferson Pilot Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Insured’s Age and Sex: 52, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 Premiums Paid $94,500 Number of Premium Payments Single Assumed Purchase Date December 28, 2001 Insurance Company Mass Mutual Life Insurance Company Policy Form: Single Premium Adjustable Life Policy Name: Strategic Life Executive ESP100 Insured’s Age and Sex: 53, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 659,000 Premiums Paid Paid: $94,500 270,610 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: September 6, 2001 2002 Insurance Company: Massachusetts Mutual Life Insurance Company Policy Form: Flexible Premium Adjustable Life Policy Name: SL11B Insured’s Age and Sex: 53, Male Riders: None Ratings: None Option: Level Face Amount: $627,816 Premiums Paid: $270,610 Number of Premium Payments: Single Assumed Purchase Date: September 6, 2002 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this AgreementExecutive Plan. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustration shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement Executive Plan than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts contract(s) were purchased on December 31, 2003the Effective Date of the Executive Plan. Insurance Company: Jefferson Pilot Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI 100 Insured’s Age and Sex: 52, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 $ Premiums Paid $94,500 Paid: $ Number of Premium Payments Payments: Single Assumed Purchase Date December 28, 2001 Date: Insurance Company Mass Mutual Company: Jefferson Pilot Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive ESP 100 Insured’s Age and Sex: 53, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 $ Premiums Paid $94,500 Paid: $ Number of Premium Payments Payments: Single Assumed Purchase Date December 28, 2001 Date: Insurance Company: Jefferson Pilot Financial Insurance Company Policy Form: Flexible Premium Adjustable Life Policy Name: ESP 100 Insured’s Age and Sex: Riders: None Ratings: None Option: Level Face Amount: $ Premiums Paid: $ Number of Premium Payments: Single Assumed Purchase Date: If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this AgreementExecutive Plan. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustration shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement Executive Plan than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Benefit Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts contract(s) were purchased on December 31, 2003the Effective Date. Insurance Company: Jefferson Pilot Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Executive Security Plan VII Insured’s Age and Sex: 52, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 $ Premiums Paid $94,500 Paid: $ Number of Premium Payments Payments: Single Assumed Purchase Date Date: December 2831, 2001 Insurance Company Mass Mutual Company: Union Central Life Insurance Company Policy Form: Single Premium Adjustable Universal Life Insurance Policy Name: Strategic Life Executive COLI UL Insured’s Age and Sex: 53, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 $ Premiums Paid $94,500 Paid: $ Number of Premium Payments Payments: Single Assumed Purchase Date Date: December 2831, 2001 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustration shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive Director and the ExecutiveDirector’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts contract(s) were purchased on December 31, 2003the Effective Date of the Executive Plan. Insurance Company: Jefferson Pilot Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Insured’s Age and Sex: 5246, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 169,000 Premiums Paid Paid: $94,500 60,000 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: November 5, 2001 Insurance Company Company: Mass Mutual Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive Exec Insured’s Age and Sex: 5346, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 182,400 Premiums Paid Paid: $94,500 60,000 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: November 5, 2001 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this AgreementExecutive Plan. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustration shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement Executive Plan than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts contract(s) were purchased on December 31, 2003the Effective Date of the Executive Plan. Insurance Company: Jefferson Pilot Life Insurance Company Comany Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI 100 Insured’s Age and Sex: 5242, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 153,000 Premiums Paid Paid: $94,500 43,938 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: September 6, 2001 2002 Insurance Company Mass Company: Massachusetts Mutual Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive SL11B Insured’s Age and Sex: 5342, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 141,920 Premiums Paid Paid: $94,500 43,938 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: September 6, 2001 2002 Insurance Company: Massachusetts Mutual Life Insurance Company Policy Form: Flexible Premium Adjustable Life Policy Name: SL11B Insured’s Age and Sex: 42, Male Riders: None Ratings: None Option: Level Face Amount: $1,021,430 Premiums Paid: $316,232 Number of Premium Payments: Single Assumed Purchase Date: September 6, 2002 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this AgreementExecutive Plan. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustration shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement Executive Plan than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on December 31, 2003the Effective Date hereof. Insurance Company: Jefferson Pilot Mass Mutual Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Strategic Life Executive Insured’s Age and Sex: 5255, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 168,630 Premiums Paid Paid: $94,500 77,000 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: February 18, 2001 2003 Insurance Company Mass Mutual Company: New York Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive Insured’s Age and Sex: 5355, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 206,347 Premiums Paid Paid: $94,500 85,400 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: February 18, 2001 2003 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were purchased shall be used in calculations under this AgreementDirector Plan. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustrations shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive Director and the ExecutiveDirector’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.

Index. The “Index” Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contracts contract(s) described hereinafter as defined by FASB Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts contract(s) were purchased on December 31, 2003the Effective Date of the Executive Plan. Insurance Company: Jefferson Pilot Mass Mutual Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: ESP VI Strategic Life Executive Insured’s Age and Sex: 5255, Male Riders: None Ratings: None Option: Level Face Amount: $222,000 927,027 Premiums Paid Paid: $94,500 423,300 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: February 18, 2001 2003 Insurance Company Mass Mutual Company: New York Life Insurance Company Policy Form: Single Flexible Premium Adjustable Life Policy Name: Strategic Life Executive Insured’s Age and Sex: 5355, Male Riders: None Ratings: None Option: Level Face Amount: $230,580 1,022,554 Premiums Paid Paid: $94,500 423,200 Number of Premium Payments Payments: Single Assumed Purchase Date December 28Date: February 18, 2001 2003 If such contracts of life insurance are actually purchased by the Bank Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this AgreementExecutive Plan. If such contracts of life insurance are not purchased or are subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased or had not subsequently surrendered or lapsed. Said illustration shall be received from the above named respective insurance company(ies) on the Effective Date from which companies and will indicate the increase in policy value will be used to calculate values for purposes of calculating the amount of the Index. In either case, references to the life insurance contract contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and the Executive’s beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Agreement Executive Plan than that of an unsecured general creditor of the Bank. Any reference to a specific insurance contract under this Subparagraph I (G) also includes a reference to a replacement contract that has replaced the specifically referenced insurance contract through an exchange qualifying under Section 1035 of the Internal Revenue Code.