Summary of Life Insurance Benefits For Directors And Executives

Exhibit 10-h

Summary of Life Insurance Benefits for Directors and Executives

The Company pays the premiums for life insurance policies on the lives of non-employee Directors. The Board member has the right to designate the beneficiary under the applicable life insurance policy. Each non-employee Director is eligible to receive a $500,000 policy. The policies insuring the non-employee Directors are term life insurance policies, on which there is no build-up in cash value.

In 1993, the Company established as an executive benefit a split dollar life insurance program for certain of the Company' s executive officers. The agreements used for this program are substantially in the form attached hereto. In connection with the split dollar life insurance program, the Company agreed to make premium payments on life insurance policies purchased for the benefit of certain of its executives. The executive officer has the right to designate the beneficiary under the policies. If either party terminates the agreement, the executive must pay the Company the amount of premiums paid by or on behalf of the Company but not more than the cash value of the life insurance policy. Upon the death of an insured executive, the Company is entitled to receive, out of the proceeds of the policy, the amount of its cash investment in the policies. Effective July 30, 2002, in response to the enactment of the Sarbanes-Oxley Act of 2002, the Company stopped paying the premiums associated with the life insurance policies purchased for the split dollar life insurance program. Presently there are split dollar life insurance policies in place for three of the Company' s executives which are expected to pay death benefits aggregating approximately $68 million.

In addition to the insurance benefits described above, the Company provides a $1,000,000 term life insurance benefit for certain senior management employees.


SPLIT DOLLAR INSURANCE AGREEMENT

SPLIT DOLLAR INSURANCE AGREEMENT dated as of _________by and between _________(the " Owner" ) and ADVANTA CORP. (" Company" ).

The parties hereto in consideration of the agreements and covenants hereinafter set forth and intending to be legally bound, agree as follows:

1. This agreement relates to [insert applicable policy numbers] on the life of [name of exectutive] (" Insured" ) issued by [name of insurance company] (" Insurer" ). The Policies have been included as part of a split-dollar life insurance arrangement established by the Company on [insert date]. Subject to the conditions hereinafter set forth, the Owner shall be the sole owner of the Policies.

2. The Company has heretofore and shall continue to pay the portion of the annual premiums on the Policies equal to: (i) the annual net premiums, minus (ii) the value of the death benefits to which the Owner is then entitled, determined by using the lesser of (a) the applicable one-year term premium cost computed under Revenue Ruling 55-747 , 1955-2 C.B. 228 (or any superseding ruling thereto) or (b) the applicable premium rates charged by the Insurer for initial issue one-year term insurance. The Owner shall pay to the Company in connection with the Policies, or directly to the Insurer, the amount described in clause (ii) above, and such payments shall continue to be made to the Company notwithstanding the fact that there are no annual net premiums on the Policies or that the Company' s obligation to pay premiums is satisfied by distributions from the Policies. In any year, the " annual net premiums" shall equal the gross premiums


less Policy dividends, which are not used to purchase additional insurance. The aggregate of such Company payments, reduced by amounts received by the Company with respect to the Policies, is hereinafter referred to as the Company' s " Cash Investment" in the P ...