Participant’s Interest. Each Participant, or the Participant’s assignee, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section 4.2.1 or 42.2. The Participant shall also have the right to elect and change settlement options.
Appears in 1 contract
Samples: Group Term Carve Out Plan (First Farmers & Merchants Corp)
Participant’s Interest. Each Participant, or the Participant’s assigneeassignee to the extent permitted hereby, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section Sections 4.2.1 or 42.24.2.2, as applicable. The Participant shall also have the right to elect and change settlement optionsoptions for the Participant’s interest by providing written notice to the Bank and the Insurer.
Appears in 1 contract
Samples: Group Term Carve Out Plan (Laurel Capital Group Inc)
Participant’s Interest. Each If applicable, the Participant, or the Participant’s 's assignee, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section 4.2.1 or 42.2. The Participant shall also have the right to elect and change settlement options.4.2.1
Appears in 1 contract
Participant’s Interest. Each If applicable, the Participant, or the Participant’s 's assignee, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section 4.2.1 or 42.24.2.2. The Participant shall also have the right to elect and change settlement optionsoptions by providing written notice to the Bank and the Insurer.
Appears in 1 contract
Samples: Group Term Carve Out Plan (Wayne Savings Bancshares Inc /De/)
Participant’s Interest. Each Participant, or the Participant’s assignee, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section 4.2.1 or 42.24.2.2. The Participant shall also have the right to elect and change settlement options.
Appears in 1 contract
Samples: Life Insurance Endorsement Method Split Dollar Plan Agreement (First Farmers & Merchants Corp)
Participant’s Interest. Each Participant, or the Participant’s assignee, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section 4.2.1 or 42.2. The Participant shall also have the right to elect and change settlement options4.
Appears in 1 contract
Samples: Group Term Carve Out Plan (First Farmers & Merchants Corp)
Participant’s Interest. Each Participant, or the Participant’s 's assignee, shall have the right to designate the beneficiary of the death proceeds of the Policy as specified in Section 4.2.1 or 42.2. The Participant shall also have the right to elect and change settlement options.4.2.1
Appears in 1 contract
Samples: Group Term Carve Out Plan (Emclaire Financial Corp)
