{"component": "clause", "props": {"groups": [{"samples": [{"hash": "ku5ObqkaHrF", "uri": "/contracts/ku5ObqkaHrF#executives-interest", "label": "Salary Continuation Agreement (Chino Commercial Bancorp)", "score": 28.2826824188, "published": true}, {"hash": "fvxx2fP0f1G", "uri": "/contracts/fvxx2fP0f1G#executives-interest", "label": "Salary Continuation Agreement (Chino Commercial Bancorp)", "score": 28.2826824188, "published": true}, {"hash": "ezwpZYXT0LN", "uri": "/contracts/ezwpZYXT0LN#executives-interest", "label": "Salary Continuation Agreement (Premier Commercial Bancorp)", "score": 21.0, "published": true}], "size": 84, "snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "right-to-designate", "type": "clause", "offset": [29, 47]}, {"key": "beneficiary-of-the", "type": "clause", "offset": [52, 70]}, {"key": "death-proceeds", "type": "definition", "offset": [71, 85]}, {"key": "settlement-options", "type": "definition", "offset": [147, 165]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [198, 227]}, {"key": "article-7", "type": "definition", "offset": [241, 250]}, {"key": "no-rights", "type": "clause", "offset": [343, 352]}, {"key": "interests-in-the-policy", "type": "clause", "offset": [356, 379]}, {"key": "no-death-benefit", "type": "definition", "offset": [384, 400]}, {"key": "section-22", "type": "clause", "offset": [426, 437]}], "snippet": "The Executive shall have the right to designate the beneficiary of the death proceeds. The Executive shall also have the right to elect and change settlement options that may be permitted. Upon the termination of this Agreement according to Article 7 herein, the Executive, the Executive\u2019s transferee or the Executive\u2019s beneficiary shall have no rights or interests in the Policy and no death benefit shall be paid under this Section 2.2.", "hash": "2a50c40e2f96cc7f4856951f8277353a", "id": 1}, {"samples": [{"hash": "gQxnKwIJBTU", "uri": "/contracts/gQxnKwIJBTU#executives-interest", "label": "Supplemental Life Insurance Agreement (Northern California Bancorp Inc)", "score": 21.0, "published": true}, {"hash": "eOAygImDD7U", "uri": "/contracts/eOAygImDD7U#executives-interest", "label": "Supplemental Life Insurance Agreement (Illini Corp)", "score": 21.0, "published": true}, {"hash": "XXedP0dVvY", "uri": "/contracts/XXedP0dVvY#executives-interest", "label": "Supplemental Life Insurance Agreement (Northern California Bancorp Inc)", "score": 21.0, "published": true}], "size": 30, "snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "right-to-designate", "type": "clause", "offset": [59, 77]}, {"key": "the-beneficiary", "type": "definition", "offset": [78, 93]}, {"key": "death-proceeds", "type": "definition", "offset": [110, 124]}, {"key": "as-specified", "type": "clause", "offset": [125, 137]}], "snippet": "The Executive, or the Executive\u2019s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in Section 2.2.1 or 2.", "hash": "f3b0d47a6abd2a55c6a6b42e87714c79", "id": 2}, {"samples": [{"hash": "2BmNvEEAaGq", "uri": "/contracts/2BmNvEEAaGq#executives-interest", "label": "Split Dollar Agreement (Cortland Bancorp Inc)", "score": 18.0, "published": true}], "size": 14, "snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "right-to-designate", "type": "clause", "offset": [29, 47]}, {"key": "the-beneficiary", "type": "definition", "offset": [48, 63]}, {"key": "death-proceeds", "type": "definition", "offset": [67, 81]}, {"key": "settlement-options", "type": "definition", "offset": [199, 217]}, {"key": "no-rights", "type": "clause", "offset": [325, 334]}, {"key": "interests-in-the-policy", "type": "clause", "offset": [338, 361]}, {"key": "with-respect-to", "type": "clause", "offset": [362, 377]}, {"key": "section-22", "type": "clause", "offset": [432, 443]}, {"key": "employment-of-the-bank", "type": "clause", "offset": [485, 507]}, {"key": "at-the-time-of-death", "type": "definition", "offset": [508, 528]}, {"key": "leave-of-absence", "type": "definition", "offset": [553, 569]}, {"key": "by-the-bank", "type": "clause", "offset": [579, 590]}], "snippet": "The Executive shall have the right to designate the beneficiary of death proceeds in the amount of $390,812. The Executive or the Executive's transferee shall also have the right to elect and change settlement options that may be permitted. 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 is not in the full-time employment of the Bank at the time of death, except for reason of a leave of absence approved by the Bank.", "hash": "35d399afb8797c0c5aeb5bbe4f54410c", "id": 3}, {"samples": [{"hash": "a164FdFP9yH", "uri": "/contracts/a164FdFP9yH#executives-interest", "label": "Split Dollar Agreement (Sierra Bancorp)", "score": 21.0, "published": true}, {"hash": "RA9DMpHqFt", "uri": "/contracts/RA9DMpHqFt#executives-interest", "label": "Split Dollar Agreement (Sierra Bancorp)", "score": 21.0, "published": true}], "size": 8, "snippet_links": [{"key": "right-to-designate", "type": "clause", "offset": [29, 47]}, {"key": "the-beneficiary", "type": "definition", "offset": [48, 63]}, {"key": "death-proceeds", "type": "definition", "offset": [67, 81]}, {"key": "death-of-the-executive", "type": "clause", "offset": [117, 139]}, {"key": "prior-to", "type": "definition", "offset": [144, 152]}, {"key": "normal-retirement-date", "type": "clause", "offset": [153, 175]}, {"key": "employed-by-the-company", "type": "definition", "offset": [182, 205]}, {"key": "after-termination-of-employment", "type": "clause", "offset": [213, 244]}, {"key": "to-receive", "type": "definition", "offset": [274, 284]}, {"key": "salary-continuation-agreement", "type": "definition", "offset": [324, 353]}, {"key": "settlement-options", "type": "definition", "offset": [415, 433]}, {"key": "in-the-event-the", "type": "clause", "offset": [457, 473]}, {"key": "not-eligible", "type": "definition", "offset": [488, 500]}, {"key": "no-rights", "type": "clause", "offset": [640, 649]}, {"key": "interests-in-the-policy", "type": "clause", "offset": [653, 676]}, {"key": "no-death-benefit", "type": "definition", "offset": [681, 697]}, {"key": "section-22", "type": "clause", "offset": [723, 734]}], "snippet": "The Executive shall have the right to designate the beneficiary of death proceeds in the amount of $658,364 upon the death of the Executive: a) prior to Normal Retirement Date while employed by the Company; or b) after Termination of Employment and while receiving, waiting to receive or having received a benefit under the Salary Continuation Agreement. The Executive shall also have the right to elect and change settlement options that may be permitted. In the event the Executive was not eligible for a benefit under the Salary Continuation Agreement, the Executive, the Executive\u2019s transferee or the Executive\u2019s beneficiary shall have no rights or interests in the Policy and no death benefit shall be paid under this Section 2.2.", "hash": "622426ad486f3c0929a0f3aed583a5e3", "id": 4}, {"samples": [{"hash": "bXWqmTwLVCB", "uri": "/contracts/bXWqmTwLVCB#executives-interest", "label": "Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc)", "score": 34.4893913269, "published": true}, {"hash": "l9lDsy2piOQ", "uri": "/contracts/l9lDsy2piOQ#executives-interest", "label": "Supplemental Executive Retirement Plan Agreement (East Penn Financial Corp)", "score": 18.0, "published": true}, {"hash": "kgR6ENldwKL", "uri": "/contracts/kgR6ENldwKL#executives-interest", "label": "Supplemental Executive Retirement Plan Agreement (CCFNB Bancorp Inc)", "score": 18.0, "published": true}], "size": 7, "snippet_links": [{"key": "article-10", "type": "clause", "offset": [29, 39]}, {"key": "right-to-designate", "type": "clause", "offset": [66, 84]}, {"key": "net-death-proceeds", "type": "definition", "offset": [108, 126]}, {"key": "settlement-options", "type": "definition", "offset": [184, 202]}], "snippet": "Subject to the provisions of Article 10, Executive shall have the right to designate the beneficiary of the Net Death Proceeds. Executive shall also have the right to elect and change settlement options that may be permitted.", "hash": "97dd4de209ba9cffc51002e641a5a4d0", "id": 5}, {"samples": [{"hash": "lEmDTIqfhdT", "uri": "/contracts/lEmDTIqfhdT#executives-interest", "label": "Split Dollar Endorsement Agreement (Heartland Bancshares Inc /In/)", "score": 18.0, "published": true}, {"hash": "gnMDPbyQrqY", "uri": "/contracts/gnMDPbyQrqY#executives-interest", "label": "Split Dollar Endorsement Agreement (Heartland Bancshares Inc /In/)", "score": 18.0, "published": true}, {"hash": "8sBPtfeuT0x", "uri": "/contracts/8sBPtfeuT0x#executives-interest", "label": "Split Dollar Endorsement Agreement (Heartland Bancshares Inc /In/)", "score": 18.0, "published": true}], "size": 7, "snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "right-to-designate", "type": "clause", "offset": [59, 77]}, {"key": "the-beneficiary", "type": "definition", "offset": [78, 93]}, {"key": "equal-to", "type": "definition", "offset": [125, 133]}, {"key": "not-to-exceed", "type": "clause", "offset": [164, 177]}, {"key": "net-death-proceeds", "type": "definition", "offset": [182, 200]}, {"key": "subject-to", "type": "definition", "offset": [202, 212]}, {"key": "rights-upon-termination-of-employment", "type": "clause", "offset": [244, 281]}, {"key": "termination-of-the-agreement", "type": "clause", "offset": [291, 319]}, {"key": "forfeiture-of-rights", "type": "clause", "offset": [342, 362]}, {"key": "in-accordance-with", "type": "definition", "offset": [382, 400]}, {"key": "section-91", "type": "definition", "offset": [401, 412]}], "snippet": "The Executive, or the Executive's assignee, shall have the right to designate the Beneficiary of an amount of death proceeds equal to three (3) times Compensation, not to exceed the Net Death Proceeds, subject to:\n(a) Forfeiture of Executive's rights upon Termination of Employment; and (b) Termination of the Agreement and the corresponding forfeiture of rights for the Executives in accordance with Section 9.1 hereof.", "hash": "dc6d492dcf8a89102f035d1dcb6fce81", "id": 6}, {"samples": [{"hash": "cx8pFWJJ1ys", "uri": "/contracts/cx8pFWJJ1ys#executives-interest", "label": "Split Dollar Agreement (Plumas Bancorp)", "score": 18.0, "published": true}, {"hash": "3UUfuDdQtEN", "uri": "/contracts/3UUfuDdQtEN#executives-interest", "label": "Split Dollar Agreement (Plumas Bancorp)", "score": 18.0, "published": true}], "size": 7, "snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "right-to-designate", "type": "clause", "offset": [29, 47]}, {"key": "the-beneficiary", "type": "definition", "offset": [48, 63]}, {"key": "death-proceeds", "type": "definition", "offset": [67, 81]}, {"key": "of-the-policy", "type": "clause", "offset": [82, 95]}, {"key": "settlement-options", "type": "definition", "offset": [183, 201]}, {"key": "no-rights", "type": "clause", "offset": [318, 327]}, {"key": "interests-in-the-policy", "type": "clause", "offset": [331, 354]}, {"key": "with-respect-to", "type": "clause", "offset": [355, 370]}, {"key": "section-22", "type": "clause", "offset": [425, 436]}, {"key": "employed-by-the-employer", "type": "definition", "offset": [467, 491]}, {"key": "for-any-reason", "type": "clause", "offset": [492, 506]}, {"key": "prior-to-normal-retirement-age", "type": "clause", "offset": [518, 548]}, {"key": "leave-of-absence", "type": "definition", "offset": [576, 592]}, {"key": "approved-by", "type": "clause", "offset": [602, 613]}, {"key": "the-opportunity", "type": "clause", "offset": [652, 667]}, {"key": "to-receive", "type": "definition", "offset": [668, 678]}, {"key": "salary-continuation-agreement", "type": "definition", "offset": [711, 740]}, {"key": "first-amendment", "type": "clause", "offset": [767, 782]}, {"key": "the-employer-and-the", "type": "clause", "offset": [822, 842]}], "snippet": "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\").", "hash": "f98f1610bd22cb434763bf844e1bd0e0", "id": 7}, {"samples": [{"hash": "22HIdUsBD6X", "uri": "/contracts/22HIdUsBD6X#executives-interest", "label": "Salary Continuation Agreement (Vib Corp)", "score": 16.0, "published": true}], "size": 6, "snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "right-to-designate", "type": "clause", "offset": [29, 47]}, {"key": "the-beneficiary", "type": "definition", "offset": [48, 63]}, {"key": "death-proceeds", "type": "definition", "offset": [67, 81]}, {"key": "of-the-policy", "type": "clause", "offset": [82, 95]}, {"key": "settlement-options", "type": "definition", "offset": [185, 203]}, {"key": "the-agreement", "type": "clause", "offset": [251, 264]}], "snippet": "The Executive shall have the right to designate the beneficiary of death proceeds of the Policy in the amount of $2,401,295. The Executive shall also have the right to elect and change settlement options that may be permitted. Articles 6.1 and 6.2 of the Agreement shall be deleted in its entirety and replaced by Articles 6.1 and 6.2 below.", "hash": "be04071859df4603764350c09aa06fa6", "id": 8}, {"samples": [{"hash": "lvbWH7Eay3X", "uri": "/contracts/lvbWH7Eay3X#executives-interest", "label": "Endorsement Split Dollar Life Insurance Agreement (ESSA Bancorp, Inc.)", "score": 18.0, "published": true}, {"hash": "gmeXWDd2nw3", "uri": "/contracts/gmeXWDd2nw3#executives-interest", "label": "Endorsement Split Dollar Life Insurance Agreement (ESSA Bancorp, Inc.)", "score": 18.0, "published": true}, {"hash": "cImBjvyONRK", "uri": "/contracts/cImBjvyONRK#executives-interest", "label": "Endorsement Split Dollar Life Insurance Agreement (ESSA Bancorp, Inc.)", "score": 18.0, "published": true}], "size": 5, "snippet_links": [{"key": "upon-executive", "type": "definition", "offset": [0, 14]}, {"key": "by-the-bank", "type": "clause", "offset": [42, 53]}, {"key": "prior-to-normal-retirement-age", "type": "clause", "offset": [63, 93]}, {"key": "the-executive", "type": "clause", "offset": [95, 108]}, {"key": "equal-to", "type": "definition", "offset": [172, 180]}, {"key": "current-base-salary", "type": "clause", "offset": [197, 216]}, {"key": "the-net", "type": "clause", "offset": [253, 260]}, {"key": "risk-insurance", "type": "clause", "offset": [264, 278]}, {"key": "total-proceeds", "type": "definition", "offset": [364, 378]}, {"key": "cash-value-of-the-policy", "type": "definition", "offset": [388, 412]}, {"key": "in-no-event-shall", "type": "clause", "offset": [414, 431]}, {"key": "the-death-benefit", "type": "clause", "offset": [432, 449]}, {"key": "net-death-proceeds", "type": "definition", "offset": [471, 489]}, {"key": "right-to-designate", "type": "clause", "offset": [564, 582]}, {"key": "the-beneficiary", "type": "definition", "offset": [583, 598]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [615, 638]}, {"key": "termination-of-employment-for-any-reason", "type": "clause", "offset": [676, 716]}, {"key": "attainment-of-normal-retirement-age", "type": "clause", "offset": [737, 772]}, {"key": "no-death-benefit", "type": "definition", "offset": [823, 839]}], "snippet": "Upon Executive's death (1) while employed by the Bank; and (2) prior to Normal Retirement Age, the Executive's Beneficiary shall be entitled to an amount of death proceeds equal to four times (4X) current base salary (as defined by the Bank) or 100% of the net-at-risk insurance portion of the proceeds, whichever is less. The net-at-risk insurance portion is the total proceeds less the cash value of the Policy. In no event shall the death benefit hereunder exceed the Net Death Proceeds of the Policy. The Executive, or the Executive's assignee, shall have the right to designate the Beneficiary pursuant to the terms of this Agreement. Upon the earlier of (1) Executive's termination of employment for any reason; or (2) Executive's attainment of Normal Retirement Age, this Agreement shall automatically terminate and no death benefit shall be due hereunder.", "hash": "e567d2b521bbbbc13dc9fa1250903eda", "id": 9}, {"samples": [{"hash": "faPTwWoPlBb", "uri": "/contracts/faPTwWoPlBb#executives-interest", "label": "Endorsement Split Dollar Agreement (Citizens South Banking Corp)", "score": 18.0, "published": true}, {"hash": "8Z1afv1g0zQ", "uri": "/contracts/8Z1afv1g0zQ#executives-interest", "label": "Endorsement Split Dollar Agreement (Citizens South Banking Corp)", "score": 18.0, "published": true}], "size": 5, "snippet_links": [{"key": "right-to-designate", "type": "clause", "offset": [29, 47]}, {"key": "of-the-executive", "type": "clause", "offset": [64, 80]}, {"key": "termination-of-employment", "type": "definition", "offset": [111, 136]}, {"key": "agreement-in-effect", "type": "definition", "offset": [205, 224]}, {"key": "section-52", "type": "clause", "offset": [353, 364]}, {"key": "in-accordance-with", "type": "definition", "offset": [436, 454]}, {"key": "split-dollar-policy-endorsement", "type": "clause", "offset": [459, 490]}, {"key": "net-death-proceeds", "type": "definition", "offset": [524, 542]}, {"key": "settlement-options", "type": "definition", "offset": [661, 679]}], "snippet": "The Executive shall have the right to designate the beneficiary of the Executive's Interest. If at the time of Termination of Employment the Executive is entitled to benefits under the Salary Continuation Agreement in effect at the time of Termination of Employment, or if Termination of Employment occurs because of the Executive's death (except under Section 5.2 of the Salary Continuation Agreement), then the beneficiary designated in accordance with the Split Dollar Policy Endorsement shall be entitled to 100% of the Net Death Proceeds (the Executive's Interest). The Executive or the Executive's transferee shall also have the right to elect and change settlement options that may be permitted for the Executive's Interest.", "hash": "dcc5959f11108d6e3dcb9fd7cdb8caa9", "id": 10}], "next_curs": "ClwSVmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjgLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhxleGVjdXRpdmVzLWludGVyZXN0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["policy-ownership-interests", "Policy Ownership Interests"], ["miscellaneous", "Miscellaneous"], ["policy-ownership-and-interests", "Policy Ownership and Interests"], ["named-fiduciary", "Named Fiduciary"], ["unfunded-plan", "Unfunded Plan"]], "children": [["death-during-active-service", "Death During Active Service"], ["death-prior-to-separation-from-service", "Death Prior to Separation from Service"], ["death-after-separation-from-service", "Death After Separation from Service"], ["death-after-termination-of-employment-but-before-commencement-of-payment-under-the-salary-continuation-plan", "Death After Termination of Employment But Before Commencement of Payment under the Salary Continuation Plan"], ["death-during-payment-of-a-benefit-under-the-salary-continuation-agreement", "Death During Payment of a Benefit under the Salary Continuation Agreement"]], "size": 279, "title": "Executive\u2019s Interest", "id": "executives-interest", "related": [["executives-obligations", "Executive\u2019s Obligations", "Executive\u2019s Obligations"], ["executives-compensation", "Executive\u2019s Compensation", "Executive\u2019s Compensation"], ["executives-cooperation", "Executive\u2019s Cooperation", "Executive\u2019s Cooperation"], ["executives-covenants", "Executives Covenants", "Executives Covenants"], ["executives-duties", "Executive\u2019s Duties", "Executive\u2019s Duties"]], "related_snippets": [], "updated": "2026-02-22T04:40:59+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The \"Executive\u2019s Interest\" clause defines the rights and entitlements of an executive regarding equity, compensation, or other financial interests in a company. Typically, this clause outlines what portion of stock options, bonuses, or other benefits the executive is eligible to receive, and under what conditions these interests vest or become payable. For example, it may specify how much equity the executive receives upon meeting certain performance targets or remaining with the company for a set period. The core function of this clause is to clearly establish the executive\u2019s financial stake in the company, thereby aligning their interests with the company\u2019s success and providing transparency regarding compensation."}, "json": true, "cursor": ""}}