Right to Annuity Contracts. Notwithstanding any provision hereof to the contrary, the Bank shall have the right to sell or surrender the Annuity Contracts without terminating this Agreement, provided the Employer replaces the Annuity Contracts with a comparable annuity policy(ies). Without limitation, the Annuity Contracts at all times shall be the exclusive property of the Employer and shall be subject to the claims of the Employer’s creditors.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Eagle Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Eagle Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Eagle Bancorp Inc)
Right to Annuity Contracts. Notwithstanding any provision hereof to the contrary, the Bank Employer shall have the right to sell or surrender the Annuity Contracts without terminating this Agreement, provided the Employer replaces the Annuity Contracts with a comparable annuity policy(ies)) or arrangement that provides a similar benefit as that provided under the Annuity Contracts. Without limitation, the Annuity Contracts at all times shall be the exclusive property of the Employer and shall be subject to the claims of the Employer’s creditors.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Plan Agreement, Supplemental Executive Retirement Plan Agreement (Wilson Bank Holding Co), Supplemental Executive Retirement Plan Agreement (Wilson Bank Holding Co)
