Net Projected Cash Surrender Value

Net Projected Cash Surrender Value. With respect to all Policies insuring the life of an Eligible Officer, the projected cash surrender value of such Policy (or, in the event multiple Policies are in effect, the aggregate projected cash surrender value of all such Policies) at the Eligible Officer's Age at Termination or age 65 (whichever is applicable), minus an amount equal to the aggregate premiums paid by the Bank prior to July 30, 2002 to provide insurance benefits to such Eligible Officer pursuant to the split-dollar life... insurance program previously maintained by the Bank for the benefit of its executive officers generally, to the extent the Bank is entitled to reimbursement of such previously paid premiums View More