THE FIRST NATIONAL BANK OF BLUEFIELD
EXECUTIVE SPLIT DOLLAR LIFE INSURANCE AGREEMENT
This EXECUTIVE SPLIT DOLLAR LIFE INSURANCE AGREEMENT is made as of the 1st day of April,
1988, by and between The First National Bank of Bluefield, a West Virginia corporation (the "Company") and
__________________________, an executive employed by the Company (the "Executive").
1. Definitions. Where indicated by initial capital letters, the following terms shall have the following meaning:
(a) Agreement: The Executive Split Dollar Life Insurance Agreement (including Schedules and attachments)
entered into between the Company and Executive pursuant to the Plan.
(b) Amount: The level of insurance specified by Executive in Schedule A which shall not be more than 5 times
(c) Beneficiary: The person or persons designated in writing by Executive to receive the Amount.
(d) Cause: Cause means, but is not limited to, a determination by the Company that Executive may have been
guilty of criminal conduct (regardless of whether proven or admitted), gross negligence or willful misconduct in the
performance of his duties or otherwise, or has engaged in conduct which, if generally known, would bring
discredit to or give rise to adverse publicity to the Company.
(e) Compensation: Compensation means the Executive's annual rate of total cash compensation as in effect on
January 1 of any year of an election to increase the Amount.
(f) Insurer: Crown Life Insurance Company, or any other insurance company issuing a life insurance contract on
(g) Plan: The First National Bank of Bluefield Executive Split Dollar
Life Insurance Plan.
(h) Policy: One or more life insurance contracts issued on the life of Executive pursuant to the Plan as identified
on Schedule A.
(i) Recoverable Amount: The Company's annual premium, exclusive of any rating, less any amount received from
the Executive, compounded at 6% interest (compounded annually).