Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s creditors.
Appears in 13 contracts
Sources: Endorsement Split Dollar Agreement, Endorsement Split Dollar Agreement (BNC Bancorp), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The , and the Bank may shall not amend, terminate, terminate or otherwise abrogate the ExecutiveDirector’s interest in the Policy unless the Bank (a) replaces the Policy with a comparable insurance policy to cover the benefit provided under this Split Dollar Agreement and Endorsement and (b) executes a new split dollar agreement Split Dollar Agreement and endorsement Endorsement and Endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s creditors.
Appears in 12 contracts
Sources: Split Dollar Agreement (Central Valley Community Bancorp), Split Dollar Agreement (Central Valley Community Bancorp), Split Dollar Agreement (Central Valley Community Bancorp)
Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy before the Executive’s Separation from Service unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s creditors.
Appears in 11 contracts
Sources: Endorsement Split Dollar Agreement (Cortland Bancorp Inc), Endorsement Split Dollar Agreement (Cortland Bancorp Inc), Endorsement Split Dollar Agreement (Tidelands Bancshares Inc)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The , and the Bank may shall not amend, terminate, terminate or otherwise abrogate the Executive’s 's interest in the Policy unless the Bank (a) replaces the Policy with a comparable insurance policy to cover the benefit provided under this Split Dollar Agreement and (b) executes a new split dollar agreement Split Dollar Agreement and endorsement Endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s 's creditors.
Appears in 7 contracts
Sources: Salary Continuation and Split Dollar Agreement (First Northern Community Bancorp), Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The effect and in no event shall the Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy Policy, unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes the Bank and the Executive execute a new split dollar agreement and endorsement Split Dollar Policy Endorsement for the said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s creditors.
Appears in 6 contracts
Sources: Split Dollar Life Insurance Agreement, Split Dollar Life Insurance Agreement (FNB Bancorp/Ca/), Split Dollar Life Insurance Agreement (FNB Bancorp/Ca/)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The effect and in no event shall the Bank may not amend, terminate, terminate or otherwise abrogate the Executive’s 's interest in the Policy Policy, unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement Split Dollar Policy Endorsement for the said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s 's creditors.
Appears in 6 contracts
Sources: Split Dollar Agreement (Columbia Bancorp \Or\), Split Dollar Agreement (Columbia Bancorp \Or\), Split Dollar Agreement (Columbia Bancorp \Or\)
Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy before the earlier of the date of the Executive’s Separation from Service or the date on which the Executive attains Normal Retirement Age unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s creditors.
Appears in 5 contracts
Sources: Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP)
Comparable Coverage. The Upon execution of this Agreement, Bank shall maintain the Policy in full force and effect. The effect and in no event shall Bank may not amend, terminate, terminate or otherwise abrogate the Executive’s 's interest in the Policy Policy, unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policyAgreement. The Policy or any comparable policy shall be subject to the claims of the Bank’s 's creditors.
Appears in 3 contracts
Sources: Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc), Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc), Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc)
Comparable Coverage. The Bank shall may maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy before the Executive’s Separation from Service unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s creditors.
Appears in 3 contracts
Sources: Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The , and the Bank may shall not amend, terminate, terminate or otherwise abrogate the Executive’s interest in the Policy unless the Bank (a) replaces the Policy with a comparable insurance policy to cover the benefit provided under this Split Dollar Agreement and (b) executes a new split dollar agreement Split Dollar Agreement and endorsement Endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s creditors.
Appears in 2 contracts
Sources: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The effect and in no event shall the Bank may not amend, terminate, terminate or otherwise abrogate the Executive’s 's interest in the Policy Policy, unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement Agreement, and executes the Bank and the Executive execute a new split dollar agreement and endorsement Split-Dollar Policy Endorsement for the said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s 's creditors.
Appears in 2 contracts
Sources: Split Dollar Agreement (Federal Home Loan Bank of Boston), Endorsement Split Dollar Agreement (Federal Home Loan Bank of Boston)
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The effect and in no event shall the Bank may not amend, terminate, terminate or otherwise abrogate the Executive’s 's interest in the Policy Policy, unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes the Bank and the Executive execute a new split dollar agreement and endorsement Split Dollar Policy Endorsement for the said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank’s 's creditors.
Appears in 1 contract
Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy before the Executive’s Separation from Service unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s creditors.a
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (Tidelands Bancshares Inc)
Comparable Coverage. The Upon execution of this Agreement, Bank shall maintain the Policy in full force and effect. The effect and in no event shall Bank may not amend, terminate, terminate or otherwise abrogate the Executive’s interest Interest in the Policy Policy, unless the Bank replaces the Policy Policy. with a comparable insurance Insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policyAgreement. The Policy or any comparable policy shall be subject to the claims of the Bank’s creditors.
Appears in 1 contract
Sources: Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc)
Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s 's interest in the Policy before the Executive's Separation from Service unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s 's creditors.
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (First South Bancorp Inc)
Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy before the Executive’s Separation from Service unless the Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the Bank’s creditors.2
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (Tidelands Bancshares Inc)
Comparable Coverage. The Bank shall maintain the Policy in full force and effect. The Bank may not amend, terminate, or otherwise abrogate the Executive’s interest in the Policy unless the The Bank replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of the The Bank’s creditors.
Appears in 1 contract
Comparable Coverage. The Upon execution of this Agreement, the Bank shall maintain the Policy in full force and effect. The effect and in no event shall the Bank may not amend, terminate, terminate or otherwise abrogate the ExecutiveTrustee’s interest in the Policy unless Policy. However, the Bank replaces may replace the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policyAgreement. The Policy or any comparable policy shall be subject to the claims of the Bank’s ’ creditors.
Appears in 1 contract
Sources: Trustee Split Dollar Agreement (Laurel Capital Group Inc)