Common use of Executive’s Interest Clause in Contracts

Executive’s Interest. The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $457,346. The Executive shall also have the right to elect and change settlement options that may be permitted. However, the Executive, the Executive's transferee or the Executive's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 if the Executive ceases to be employed by the Employer for any reason whatsoever prior to Normal Retirement Age (other than by reason of a leave of absence which is approved by the Employer) and has received or had the opportunity to receive any benefit under the Executive Salary Continuation Agreement dated June 2, 1994, and a first Amendment thereto of even date herewith, between the Employer and the Executive (collectively the "Salary Continuation Agreement").

Executive’s Interest. The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $457,346243,977. The Executive shall also have the right to elect and change settlement options that may be permitted. However, the Executive, the Executive's transferee or the Executive's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 if the Executive ceases to be employed by the Employer for any reason whatsoever prior to Normal Retirement Age (other than by reason of a leave of absence which is approved by the Employer) and has received or had the opportunity to receive any benefit under the Executive Salary Continuation Agreement dated June 2October 13, 19941993, and a first Amendment thereto dated September 29, 1995, and a Second Amendment of even date herewith, between the Employer and the Executive (collectively the "Salary Continuation Agreement").

Executive’s Interest. The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $457,346100,000. The Executive shall also have the right to elect and change settlement options that may be permitted. However, the Executive, the Executive's transferee or the Executive's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 if the Executive ceases to be employed by the Employer for any reason whatsoever prior to Normal Retirement Age (other than by reason of a leave of absence which is approved by the Employer) and has received or had the opportunity to receive any benefit under the Executive Salary Continuation Agreement dated June 2, 1994, and a first Amendment thereto dated of even date herewith, between the Employer and the Executive (collectively the "Salary Continuation Agreement").

Executive’s Interest. The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $457,346512,347. The Executive shall also have the right to elect and change settlement options that may be permitted. However, the Executive, the Executive's transferee or the Executive's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 if the Executive ceases to be employed by the Employer for any reason whatsoever prior to Normal Retirement Age (other than by reason of a leave of absence which is approved by the Employer) and has received or had the opportunity to receive any benefit under the Executive Salary Continuation Agreement dated June 2October 13, 19941993, and a first Amendment thereto dated September 29, 1995, and a Second Amendment of even date herewith, between the Employer and the Executive (collectively the "Salary Continuation Agreement").

Executive’s Interest. The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $457,346232,516. The Executive shall also have the right to elect and change settlement options that may be permitted. However, the Executive, the Executive's transferee or the Executive's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 if the Executive ceases to be employed by the Employer for any reason whatsoever prior to Normal Retirement Age (other than by reason of a leave of absence which is approved by the Employer) and has received or had the opportunity to receive any benefit under the Executive Salary Continuation Agreement dated June 2October 13, 19941993, and a first Amendment thereto dated September 29, 1995, and a Second Amendment of even date herewith, between the Employer and the Executive (collectively the "Salary Continuation Agreement").

Executive’s Interest. The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $457,346100,000. The Executive shall also have the right to elect and change settlement options that may be permitted. However, the Executive, the Executive's transferee or the Executive's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 if the Executive ceases to be employed by the Employer for any reason whatsoever prior to Normal Retirement Age (other than by reason of a leave of absence which is approved by the Employer) and has received or had the opportunity to receive any benefit under the Executive Salary Continuation Agreement dated June 2, 1994, and a first Amendment thereto of even date herewith, between the Employer and the Executive (collectively the "Salary Continuation Agreement").