Common use of Interests in the Policy Clause in Contracts

Interests in the Policy. The Policy that is the subject of this Split Dollar Agreement is ________________ (the "Insurer") Policy Number ______________ on the life of the Owner (the "Policy"). The Employer's interest in the cash value and death benefits of the Policy (the "Employer's Interest") as of any date, shall be equal to the Unamortized Premium Payment (as defined herein) as of such date accumulated at interest at a rate of 4.5% per annum. The Owner's interest in the cash value and death benefits of the Policy (the "Owner's Interest") shall be equal to the remaining cash value and death benefits of the Policy, if any, in excess of the Employer's Interest, reduced by any distributions made to the Owner prior to such date.

Interests in the Policy. The Policy that is the subject of this Split Dollar Agreement is ________________ (the "Insurer") Policy Number ______________ on the life of the Owner (the "Policy"). The Employer's interest in the cash value and death benefits of the Policy (the "Employer's Interest") as of any date, shall be equal to the Unamortized Premium Payment (as defined herein) as of such date accumulated at interest at a rate of 4.5% per annum. The Owner's interest in the cash value and death benefits of the Policy (the "Owner's Interest") shall be equal to the remaining cash value and death benefits of the Policy, if any, in excess of the Employer's Interest, reduced by any distributions made to the Owner or the Insured prior to such date.