Vested Insurance Benefit. If the Director has a Vested Insurance Benefit, the Bank may amend or terminate the Agreement only if: (i) continuation of the Agreement would cause significant financial harm to the Bank, (ii) the Director agrees to such action, or (iii) the Bank’s banking regulator(s) issues a written directive to amend or terminate the Agreement.
Appears in 4 contracts
Samples: Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (New Investors Bancorp, Inc.)
Vested Insurance Benefit. If the Director has a Vested Insurance Benefit, the Bank may amend or terminate the Agreement only if: (i) continuation of the Agreement would cause significant financial harm to the Bank, and (ii) the Director agrees to such action, or (iii) the Bank’s banking regulator(s) issues a written directive to amend or terminate the Agreement.
Appears in 2 contracts
Samples: Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (New Investors Bancorp, Inc.)
