Common use of Split Dollar Agreement Clause in Contracts

Split Dollar Agreement. The Trustee of Executive's Life ---------------------- Insurance Trust shall have entered into a split dollar agreement with Company, substantially in the form attached as Exhibit 1 to this Amendment pursuant to which the Company is entitled to be repaid the aggregate amount of the premiums paid under this Section 8(d) within 60 days following the earlier of the surrender of the life insurance policies with respect to which the Company has paid premiums, or the death of the Executive. If some, but fewer than all of such policies are surrendered, the Company will be entitled to be repaid that percentage of the aggregate premiums paid hereunder that the cash value received upon such surrender is of the total cash value of the policies upon with the Company has paid premiums hereunder.

Split Dollar Agreement. The Trustee of ExecutiveEmployee's Life ---------------------- Insurance Trust shall have entered into a split dollar agreement with Company, substantially in the form attached as Exhibit 1 to this Amendment pursuant to which the Company is entitled to be repaid the aggregate amount of the premiums paid under this Section 8(d) 3.07 within 60 days following the earlier of the surrender of the life insurance policies with respect to which the Company has paid premiums, or the death of the ExecutiveEmployee. If some, but fewer than all of such policies are surrendered, the Company will be entitled to be repaid that percentage of the aggregate premiums paid hereunder that the cash value received upon such surrender is of the total cash value of the policies upon with the Company has paid premiums hereunder.