Comparable Coverage. Upon Termination of Employment after the Executive’s Normal Retirement Age, the Company shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Company’s creditors.
Appears in 9 contracts
Samples: Split Dollar Agreement (Community Capital Corp /Sc/), Capitalbank Split Dollar Agreement (Community Capital Corp /Sc/), Split Dollar Agreement (CenterState Banks, Inc.)
Comparable Coverage. Upon Termination of Employment after the Executive’s 's Normal Retirement Age, the Company shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s 's interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Company’s 's creditors.
Appears in 2 contracts
Samples: First South Bank Split Dollar Agreement (First South Bancorp Inc), Peoples National Bank Split Dollar Agreement (Peoples Bancorporation Inc /Sc/)
Comparable Coverage. Upon Termination of Employment after the Executive’s Normal Retirement Age, the Company shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the ExecutiveTrust’s interest in the Policy, . unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Company’s creditors.
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Comparable Coverage. Upon Termination of Employment after If the Executive’s Executive attains Normal Retirement AgeAge while in the continuous employ of the Company, the Company shall thereafter maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this AgreementAgreement and executes a new Split Dollar Agreement and Endorsement for said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Company’s creditors.. ARTICLE XLIII
Appears in 1 contract
Samples: Agreement (Oak Valley Bancorp)
Comparable Coverage. Upon Termination of Employment after the Executive’s 's Normal Retirement Age, the Company shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Company’s creditors.full
Appears in 1 contract
Samples: Peoples National Bank Split Dollar Agreement (Peoples Bancorporation Inc /Sc/)
Comparable Coverage. Upon Termination of Employment after the Executive’s 's Normal Retirement Age, the Company shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s Trust's interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Company’s 's creditors.
Appears in 1 contract
Comparable Coverage. Upon Termination of Employment after the Executive’s 's attaining Normal Retirement AgeAge while still in service as an employee of the Company, the Company shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s 's interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement. The Policy or any comparable policy shall be subject to the claims of the Company’s 's creditors.
Appears in 1 contract
Comparable Coverage. Upon Termination of Employment after If the Executive’s Executive attains Normal Retirement AgeAge while in the continuous employ of the Company, the Company shall thereafter maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s interest in the Policy, unless the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this AgreementAgreement and executes a new Split Dollar Agreement and Endorsement for said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Company’s creditors.
Appears in 1 contract
Samples: Agreement (Oak Valley Bancorp)
Comparable Coverage. Upon Termination of Employment after the Executive’s 's Normal Retirement AgeAge or after a Change of Control, the Company shall maintain the Policy Policies in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Executive’s 's interest in the PolicyPolicies, unless the Company replaces the Policy Policies with a comparable insurance policy to cover the proportional benefit provided under this AgreementAgreement and executes a new Split Dollar Endorsement for said comparable insurance policy. The Policy Policies or any comparable policy policies shall be subject to the claims of the Company’s 's creditors.
Appears in 1 contract
Samples: Company Split Dollar Agreement (West Pointe Bancorp Inc)