Executive’s Interest definition

Executive’s Interest means the benefit set forth in Section 2.2.

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Executive’s Interest means the benefit set forth in Section 3.1.

Executive’s Interest means the benefit set forth in section 2.2. 1.3 “Insured” means the Executive. 1.4 “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement attached to this Agreement. 1.5 “Net Death Proceeds” means the total death proceeds of the Policy minus the cash surrender value. 1.6 “Policy” means the specific life insurance policy or policies issued by the Insurer. 1.7 “Salary Continuation Agreement” means the Salary Continuation Agreement between the Bank and the Executive, as the same may hereafter be amended. 1.8 “Split Dollar Policy Endorsement” means the form required by the Administrator or the Insurer to indicate the Executive’s interest, if any, in a Policy on the Executive’s life.

Examples of Executive’s Interest in a sentence

The Bank shall be the beneficiary of an amount equal to the cash surrender value of the Policy and any portion of the Net Death Proceeds of the Policy remaining after the Executive’s Interest is determined according to Section 3.2.
The Executive shall have the right, at any time, to designate a Beneficiary or Beneficiaries of the Executive’s Interest under Section 3.2 of this Agreement.
In the event the Executive shall transfer all or part of such Executive’s Interest, then all or part of the Executive’s Interest under this Agreement shall be vested in his or her transferee, subject to such transferee executing agreements binding them to the provisions of this Agreement, who shall be substituted as a party hereunder, and the Executive shall have no further interest under this Agreement.

More Definitions of Executive’s Interest

Executive’s Interest means the benefit set forth in Section 2.2. OLD LINE BANK Supplemental Life Insurance Agreement

Executive’s Interest means the rights of the Executive or his transferee under the Policies as set forth in section 2.2 of this Agreement.

Executive’s Interest means the benefit set forth in Section 2.2 payable only upon the Executive’s death.

Executive’s Interest means an amount equal to the lesser of (i) the Executive’s Annual Base Salary; or (ii) the Net Death Proceeds, in each case as determined at Executive’s time of death. Notwithstanding the preceding, neither the Executive, the Executive’s transferee, nor the Executive’s beneficiary shall have any rights with respect to all or any portion of the Policy following the Executive’s Termination of Employment, unless such Termination of Employment is due to death or Disability, in which such events this Agreement shall remain in place.

Executive’s Interest means the benefit set forth in section 2.2. 1.3 “Insured” means the Executive. 1.4 “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement attached to this Agreement. 1.5 “Net Death Proceeds” means the total death proceeds of the Policy minus the cash surrender value immediately prior to the Executive’s death. 1.6 “Policy” means the specific life insurance policy or policies issued by the Insurer. 1.7 “Split Dollar Policy Endorsement” means the form required by the Administrator or the Insurer to indicate the Executive’s interest, if any, in a Policy on the Executive’s life. ARTICLE 2

Executive’s Interest means the benefit set forth in Section 3.2. LEGAL02/40129087v1