Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 15 contracts
Samples: Dollar Agreement, Split Dollar Agreement (CenterState Banks, Inc.), Split Dollar Agreement (BANKshares Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Director or the ExecutiveDirector’s transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 13 contracts
Samples: Split Dollar Agreement (Sierra Bancorp), Split Dollar Agreement (CFSB Bancorp, Inc. /MA/), Split Dollar Agreement (CFSB Bancorp, Inc. /MA/)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy by one of the methods specified below for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 11 contracts
Samples: Dollar Agreement (West Pointe Bancorp Inc), Dollar Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 10 contracts
Samples: Split Dollar Agreement (FCB Bancorp), Split Dollar Agreement (Sierra Bancorp), California Split Dollar Agreement (Business Bancorp /Ca/)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 6 contracts
Samples: Split Dollar Agreement (Synovus Financial Corp), Agreement (Greater Rome Bancshares Inc), Peoples National Bank Split Dollar Agreement (Peoples Bancorporation Inc /Sc/)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 4 contracts
Samples: Dollar Agreement (East West Bancorp Inc), Split Dollar Agreement (Mercantile Bank Corp), Agreement (Cooperative Bankshares Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Director or the Executive’s Director's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 3 contracts
Samples: Agreement (Cooperative Bankshares Inc), Association Split Dollar Agreement (Home Federal Bancorp Inc), Agreement (Cooperative Bankshares Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Director or the ExecutiveDirector’s transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 3 contracts
Samples: First California Bank (FCB Bancorp), First California Bank (FCB Bancorp), First California Bank (FCB Bancorp)
Option to Purchase. The Company Employer shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company Employer to terminate this Agreement.
Appears in 3 contracts
Samples: Split Dollar Agreement (Plumas Bancorp), Split Dollar Agreement (Plumas Bancorp), Split Dollar Agreement (Plumas Bancorp)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Trust or the Executive’s Trust's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 3 contracts
Samples: Split Dollar Agreement (Team Financial Inc /Ks), Split Dollar Agreement (Team Financial Inc /Ks), Split Dollar Agreement (Team Financial Inc /Ks)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy policy while this Agreement is in effect without first giving the Executive or the Executive’s transferee it's transferee, the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 2 contracts
Samples: Split Dollar Agreement (Ridgestone Financial Services Inc), Split Dollar Agreement (Ridgestone Financial Services Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Director or the ExecutiveDirector’s transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 2 contracts
Samples: Oak Valley Community Bank (Oak Valley Bancorp), Agreement (Oak Valley Bancorp)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s transferee the option to purchase the Policy by one of the methods specified below for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Redwood Empire Bancorp), Salary Continuation Agreement (Redwood Empire Bancorp)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Samples: Bank Split Dollar Agreement (Commercial Capital Bancorp Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Director or the Executive’s Director's transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Director or the ExecutiveDirector’s transferee the option to purchase the Policy by one of the methods specified below for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Samples: Director Compensation Agreement (Redwood Empire Bancorp)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the a Policy while this Agreement Plan is in effect without first giving the Executive Insured or the Executive’s transferee his/her transferee, the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this AgreementPlan.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy policy while this Agreement is in effect without first giving the Executive Director or the Executive’s transferee its transferee, the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Samples: Split Dollar Agreement (First Community Financial Corp)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty ninety (6090) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the a Policy while this Agreement Plan is in effect without first giving the Executive Insured or the Executive’s transferee Insured's transferee, the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this AgreementPlan, except as provided in Section 4.3 hereto.
Appears in 1 contract
Samples: Fidelity Bancorp Inc
Option to Purchase. The Company shall not sell, surrender surrender, or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Trust or the Executive’s Trust's transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.. 2.4
Appears in 1 contract
Samples: Split Dollar Agreement (First National Lincoln Corp /Me/)
Option to Purchase. The Company shall not sell, surrender or surrender, transfer ownership of of, or terminate the Policy while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy by the method specified below for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive’s transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy Policies while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy Policies for a period of sixty ninety (6090) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the PolicyPolicies. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender surrender, reduce the death proceeds or transfer ownership of any of the Policy Policies while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase any of the Policy Policies for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Samples: Company Split Dollar Agreement (West Pointe Bancorp Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy policy while this Agreement is in effect without first giving the Executive or the Executive’s transferee it=s transferee, the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.. Article 3
Appears in 1 contract
Samples: Split Dollar Agreement (Ridgestone Financial Services Inc)
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the a Policy while this Agreement is in effect without first giving the Executive a Participant or the ExecutiveParticipant’s transferee the option to purchase the Policy for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Samples: Plan (Beverly National Corp)
Option to Purchase. The Company shall not sell, . surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive Trust or the ExecutiveTrust’s transferee the option to purchase the Policy for far a period of sixty (60) days from written notice of such intentionintuition. The purchase price shall be an amount equal to the cash surrender value of the Policy. : This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy Policies while this Agreement is in effect without first giving the Executive or the Executive’s 's transferee the option to purchase the Policy Policies for a period of sixty (60) 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the PolicyPolicies. This provision shall not impair the right of the Company to terminate this Agreement.
Appears in 1 contract
Samples: Ohio Valley Banc Corp
