SPLIT DOLLAR POLICY ENDORSEMENT
New York Life Policy No.
Mass Mutual Policy No.
Southland Policy No.
Supplementing and amending the application of Evans National Bank to New York Life, Mass Mutual and
Southland Life ("Insurer" or "Insurers"), the applicant requests and directs that:
1. Subject to the Evans National Bank Executive Life Insurance Plan (the "Plan"), the terms and conditions of
which are incorporated by reference herein, the beneficiary designated by the Insured, or his/her transferee, shall
be the beneficiary of the "Participant's interest" determined in accordance with Section 3.1 of the Plan.
2. The beneficiary of any remaining death proceeds shall be ENB Employers Insurance Trust, or any successor
3. The Ownership of the policy shall be ENB Employers Insurance Trust. The Owner shall have all ownership
rights in the Policy except as may be specifically granted to the Insured or his/her transferee in paragraph (4) of
4. The Insured or his/her transferee shall have the right to assign all rights and interest in the policy with respect to
that portion of the death proceeds designated in paragraph (1) of this endorsement, and to exercise all settlement
options with respect to such death proceeds.
MODIFICATION OF ASSIGNMENT PROVISIONS OF THE POLICY
Upon the death of the Insured, the interest of any collateral assignee of the Owner of the policy designated in
paragraph (3) above shall be limited to the portion of the proceeds described in paragraph (2) above.
The Insurer is hereby authorized to recognize the Owner's claim to rights hereunder without investigating the
reason for any action taken by the Owner, including its statement of the amount of premiums it has paid on the
policy. The signature of the Owner shall be sufficient for the exercise of any rights under this Endorsement and the
receipt of the Owner for any sums received by it shall be a