Common use of Comparable Coverage Clause in Contracts

Comparable Coverage. The Bank may provide the benefit under this Agreement (as defined in Section 2.2) through comparable insurance coverage of the Executive’s life by whatever means the Bank deems appropriate. If the Executive forfeits his right to such benefit pursuant to Section 2.3 or otherwise waives such right, the Bank may choose to cancel the Policy or Policies on the Executive, or may continue such coverage and become the direct beneficiary of the entire death proceeds.

Comparable Coverage. The Bank may provide such benefit through a Policy purchased at, or prior to, the benefit under commencement of this Agreement (as defined in Section 2.2) through Agreement, or may provide comparable insurance coverage of the Executive’s life by to Executive through whatever means the Bank deems appropriate. If the Executive waives or forfeits his right to such benefit pursuant to Section 2.3 or otherwise waives such rightthe Executive’s Interest (including as a result of the expiration of this Agreement), the Bank may choose to cancel the Policy or Policies on the Executive, or may continue such coverage and become the direct beneficiary of the entire death proceeds.