Maximum Death Benefit. If the Insured’s death occurs while the Insured is in the full-time employment of the Bank (or while the Executive is deemed to be in the full-time employment of the Bank due to Section 8(b)(ii) on account of being Substantially Disabled), but prior to the Insured attaining age sixty-five (65), then the “Death Benefit” shall equal $1,800,000.
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Samples: 2018 Split Dollar Agreement (National Commerce Corp), 2018 Split Dollar Agreement (National Commerce Corp), Split Dollar Agreement (National Commerce Corp)
Maximum Death Benefit. If the Insured’s death occurs while the Insured is in the full-time employment of the Bank (or while the Executive is deemed to be in the full-time employment of the Bank due to Section 8(b)(ii) on account of being Substantially Disabled), but prior to the Insured attaining age sixty-five (65), then the “Death Benefit” shall equal $1,800,0001,200,000.
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