Death Prior to Separation from Service. If the Executive dies while employed by the Company, the Executive's Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars ($150,000), provided that such benefit shall not exceed the Net Death Proceeds.
Appears in 3 contracts
Sources: Supplemental Life Insurance Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc)
Death Prior to Separation from Service. If the Executive dies while employed by the CompanyBank, the Executive's ’s Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars percent ($150,000), provided that such benefit shall not exceed 50%) of the Net Death Proceeds.
Appears in 3 contracts
Sources: Split Dollar Agreement (Centerstate Banks of Florida Inc), Supplemental Life Insurance Agreement (River Valley Bancorp), Split Dollar Agreement (Centerstate Banks of Florida Inc)
Death Prior to Separation from Service. If the Executive dies while employed by the CompanyBank, the Executive's ’s Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars percent ($150,000), provided that such benefit shall not exceed 100%) of the Net Death ProceedsProceeds minus the benefit amounts paid to the Executive’s beneficiary pursuant to Agreement 1 and Agreement 2.
Appears in 2 contracts
Sources: Supplemental Life Insurance Agreement (Northern California Bancorp Inc), Supplemental Life Insurance Agreement (Northern California Bancorp Inc)
Death Prior to Separation from Service. If the Executive dies while employed by the Companyprior to Separation from Service, the Executive's Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars percent ($150,000), provided that such benefit shall not exceed 100%) of the Net Death ProceedsProceeds (if any).
Appears in 1 contract
Sources: Split Dollar Life Insurance Agreement (Alamogordo Financial Corp)
Death Prior to Separation from Service. If the Executive dies while employed by the Companyprior to Separation from Service, the Executive's ’s Beneficiary shall be entitled to a benefit portion of the death proceeds equal to one hundred fifty thousand dollars thirty percent ($150,000), provided that such benefit shall not exceed 30%) of the Net Death Proceeds.
Appears in 1 contract
Sources: Supplemental Life Insurance Agreement (Old Line Bancshares Inc)
Death Prior to Separation from Service. If the Executive dies while employed by the CompanyBank, the Executive's ’s Beneficiary shall be entitled to a benefit equal to one hundred fifty thousand dollars One Hundred Twenty-Five Thousand Dollars ($150,000125,000), provided that such benefit shall not exceed the Net Death Proceeds.
Appears in 1 contract
Sources: Supplemental Life Insurance Agreement (Illini Corp)
Death Prior to Separation from Service. If the Executive dies while employed by the Companyprior to Separation from Service, the Executive's ’s Beneficiary shall be entitled to a benefit portion of the death proceeds equal to one hundred fifty thousand dollars seventy-five percent ($150,000), provided that such benefit shall not exceed 75%) of the Net Death Proceeds.
Appears in 1 contract
Sources: Supplemental Life Insurance Agreement (Old Line Bancshares Inc)