RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 25 contracts
Samples: Life Insurance Endorsement Method Split Dollar Plan Agreement (Origin Bancorp, Inc.), Endorsement Method Split Dollar Plan Agreement (Heritage NOLA Bancorp, Inc.), Director Supplemental Retirement Plan Agreement (Heritage NOLA Bancorp, Inc.)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s 's right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s 's cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 14 contracts
Samples: Life Insurance Split Dollar Endorsement Method Agreement (Central Valley Community Bancorp), Life Insurance Split Dollar Endorsement Method Agreement (Central Valley Community Bancorp), Life Insurance Endorsement Method Split Dollar Plan Agreement (Origin Bancorp, Inc.)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy Policy involves an endowment or annuity element, the Bank’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policyPolicy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 9 contracts
Samples: Split Dollar Agreement (Bank Holdings), Split Dollar Agreement (Bank Holdings), Split Dollar Agreement (Bank Holdings)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s or the Trust’ right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 7 contracts
Samples: Endorsement Method Split Dollar Plan Agreement (Lyons Bancorp Inc), Endorsement Method Split Dollar Plan Agreement (Lyons Bancorp Inc), Endorsement Method Split Dollar Plan Agreement (Lyons Bancorp Inc)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the BankEmployer’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, benefits shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 5 contracts
Samples: Employee Supplemental Compensation Benefits Agreement (Greater Bay Bancorp), Employee Supplemental Compensation Benefits Agreement (Greater Bay Bancorp), Employee Supplemental Compensation Benefits Agreement (Greater Bay Bancorp)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s Institution's right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s 's cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 3 contracts
Samples: Director Supplemental Income Plan Agreement (Osage Federal Financial Inc), Executive Salary Continuation Plan Agreement (Osage Federal Financial Inc), Executive Salary Continuation Plan Agreement (Osage Federal Financial Inc)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s or the Trust’ right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such such, annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 2 contracts
Samples: Endorsement Method Split Dollar Plan Agreement (Lyons Bancorp Inc), Endorsement Method Split Dollar Plan Agreement (Lyons Bancorp Inc)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy Policy involves an endowment or annuity element, the Bank’s 's right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, benefits shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s Policy's cash value. Such endowment proceeds or annuity benefits shall be considered to be treated like death proceeds for the purposes of division under this Agreement.
Appears in 2 contracts
Samples: Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp), Executive Supplemental Compensation Agreement (Citizens Bancorp/Or)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bankbank’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or of the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 2 contracts
Samples: Endorsement Method Split Dollar Plan Agreement (Community Financial Corp /Md/), Endorsement Method Split Dollar Plan Agreement (Community Financial Corp /Md/)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy Policy involves an endowment or annuity element, the BankCompany’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, benefits shall be determined under the provisions of according to this Agreement Agreement, by regarding such endowment proceeds proceeds, or the commuted value of such annuity benefits benefits, as the policyPolicy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be treated like death proceeds for the purposes of division under this Agreement.
Appears in 2 contracts
Samples: Endorsement Method Split Dollar Agreement (Mountain Bank Holding Co), Endorsement Method Split Dollar Agreement (Americanwest Bancorporation)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy Policy involves an endowment or annuity element, the Bank’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, benefits shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policyPolicy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be treated like death proceeds for the purposes of division under this Agreement.
Appears in 2 contracts
Samples: Endorsement Method Split Dollar Plan Agreement (Heritage Commerce Corp), Endorsement Method Split Dollar Plan Agreement (Heritage Commerce Corp)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy Policy involves an endowment or annuity element, the BankCompany’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, benefits shall be determined under the provisions of according to this Agreement Agreement, by regarding such endowment proceeds proceeds, or the commuted comminuted value of such annuity benefits benefits, as the policyPolicy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be treated like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Endorsement Method Split Dollar Agreement (Mountain Bank Holding Co)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy Policy involves an endowment or annuity element, the Bank’s Company's right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, benefits shall be determined under the provisions of according to this Agreement Agreement, by regarding such endowment proceeds proceeds, or the commuted value of such annuity benefits benefits, as the policy’s Policy's cash value. Such endowment proceeds or annuity benefits shall be considered to be treated like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Life Insurance Endorsement Method Split Dollar Agreement (Columbia Banking System Inc)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s right and interest in any endowment proceeds proceeds, or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Joint Beneficiary Designation Agreement (Americanwest Bancorporation)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s Corporation's right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such each annuity benefits as the policy’s 's cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Endorsement Method Split Dollar Plan Agreement (Pinnacle Financial Corp)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the BankBunk’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Joint Beneficiary Designation Agreement (CB Financial Services, Inc.)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s or the Trust’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Endorsement Method Split Dollar Plan Agreement (Ecb Bancorp Inc)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s or the Trust’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (Citizens Financial Corp/De/)
RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS. In the event the policy involves an endowment or annuity element, the Bank’s 's or the Trust's right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s 's cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.
Appears in 1 contract
Samples: Life Insurance Endorsement Method Split Dollar Plan Agreement (Ecb Bancorp Inc)
