Common use of Executive’s Interest Clause in Contracts

Executive’s Interest. Subject to Article 7, the Executive shall have the right to designate the beneficiary of THREE HUNDRED SIXTY THOUSAND DOLLARS ($360,000) of death proceeds. If Executive receives or begins receiving benefits pursuant to the amended Salary Continuation Agreement between Executive and the Bank (Salary Continuation Agreement), then no death benefits shall be payable to Executive’s beneficiaries pursuant to this Agreement in the event of Executive’s death.

Executive’s Interest. Subject to Article 7, the Executive shall have the right to designate the beneficiary of THREE SIX HUNDRED SIXTY EIGHTY THOUSAND DOLLARS ($360,000680,000) of death proceeds. If Executive receives or begins receiving benefits pursuant to the amended Salary Continuation Agreement between Executive and the Bank (Salary Continuation Agreement), then no death benefits shall be payable to Executive’s beneficiaries pursuant to this Agreement in the event of Executive’s death.

Executive’s Interest. Subject to Article 7, the Executive shall have the right to designate the beneficiary of THREE TWO HUNDRED SIXTY EIGHTY THOUSAND DOLLARS ($360,000280,000) of death proceeds. If Executive receives or begins receiving benefits pursuant to the amended Salary Continuation Agreement between Executive and the Bank (Salary Continuation Agreement), then no death benefits shall be payable to Executive’s beneficiaries pursuant to this Agreement in the event of Executive’s death.

Executive’s Interest. Subject to Article 7, the Executive shall have the right to designate the beneficiary of THREE FOUR HUNDRED SIXTY FIFTY THOUSAND DOLLARS ($360,000450,000) of death proceeds. If Executive receives or begins receiving benefits pursuant to the amended Salary Continuation Agreement between Executive and the Bank (Salary Continuation Agreement), then no death benefits shall be payable to Executive’s beneficiaries pursuant to this Agreement in the event of Executive’s death.