ACNB Bank purchases BOLI policies for senior officers; $668,304 benefit for EVP Fulk

ACNB CORP

ACNB Bank purchased single-premium BOLI policies on senior officers, including EVP/Chief Strategy Officer Brett D. Fulk, under 2023 Executive Supplemental Life Insurance Plan.
Mr. Fulk's vested life insurance benefit under the Plan is $668,304, subject to 5-year graded vesting.
Benefit equals up to 2x base annual salary; bank owns policy cash values and is beneficiary of death proceeds above vested amount.
Plan vests 20% per year over 5 years; full vesting on death, disability, or change in control.

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