Non-Vested Insurance Benefit. Unless the Executive has a Vested Insurance Benefit pursuant to Section 4.1, the Bank may amend or terminate this Agreement at any time, or may amend or terminate the Executive’s rights under the Agreement at any time prior to the Executive’s death, by providing written notice of such to the Executive.
Appears in 5 contracts
Samples: Split Dollar Agreement (Southside Bancshares Inc), Split Dollar Agreement (Southside Bancshares Inc), Southside Bank Split Dollar Agreement (Southside Bancshares Inc)
Non-Vested Insurance Benefit. Unless the Executive has a Vested Insurance Benefit pursuant to Section 4.13.1, the Bank may amend or terminate this the Agreement at any time, or may amend or terminate the Executive’s rights under the Agreement at any time prior to the Executive’s death, by providing written notice of such to the Executive. In the event that the Bank decides to maintain the Policy after termination of the Agreement, the Bank shall be the direct beneficiary of the entire death proceeds of the Policy.
Appears in 4 contracts
Samples: Split Dollar Agreement (Centerstate Banks of Florida Inc), Supplemental Life Insurance Agreement (Northern California Bancorp Inc), Supplemental Life Insurance Agreement (Illini Corp)
Non-Vested Insurance Benefit. Unless the Executive has a Vested Insurance Benefit pursuant to Section 4.13.1, the Bank may amend or terminate this the Agreement at any time, or may amend or terminate the Executive’s rights under the Agreement at any time prior to the Executive’s death, by providing written notice of such to of the Executive. In the event that the Bank decides to maintain the Policy after termination of the Agreement, the Bank shall be the direct beneficiary of the entire death proceeds of the Policy.
Appears in 1 contract
Samples: Supplemental Life Insurance Agreement (Northern California Bancorp Inc)
