Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 40 contracts
Samples: Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP), Dollar Agreement (BNC Bancorp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.. 3.3
Appears in 6 contracts
Samples: Endorsement Split Dollar Agreement (Tidelands Bancshares Inc), Endorsement Split Dollar Agreement (Tidelands Bancshares Inc), Endorsement Split Dollar Agreement (Tidelands Bancshares Inc)
Economic Benefit. The Plan Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiaryBeneficiary. The “life insurance premium factor” is the minimum factor applicable amount required to be imputed under guidance published pursuant to Treasury IRS Reg. section § 1.61-22(d)(3)(ii) or any subsequent applicable authority.
Appears in 5 contracts
Samples: Southside Bank Split Dollar Agreement (Southside Bancshares Inc), Split Dollar Agreement (Southside Bancshares Inc), Split Dollar Agreement (Southside Bancshares Inc)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"life insurance premium factor” " is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 4 contracts
Samples: Endorsement Split Dollar Agreement (First South Bancorp Inc), Form of Agreement (Southcoast Financial Corp), Endorsement Split Dollar Agreement (Southcoast Financial Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. Regulation section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 3 contracts
Samples: Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section Section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 3 contracts
Samples: Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.)
Economic Benefit. The Administrator Employer shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s beneficiaryBeneficiary. The “"life insurance premium factor” " is the minimum factor applicable under guidance published pursuant to Treasury Reg. section § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 3 contracts
Samples: Split Dollar Life Insurance Agreement (Eureka Homestead Bancorp, Inc.), Split Dollar Life Insurance Agreement (Valley Commerce Bancorp), Split Dollar Life Insurance Agreement (Eureka Homestead Bancorp, Inc.)
Economic Benefit. The Administrator Employer shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiaryBeneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 2 contracts
Samples: Split Dollar Life Insurance Agreement (WVS Financial Corp), Split Dollar Life Insurance Agreement (WVS Financial Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiaryBeneficiary. The “life insurance premium factor” factor is the minimum factor applicable amount required to be imputed under guidance published pursuant to Treasury Reg. Internal Revenue Service Regulations, section 1.61-22(d)(3)(ii) ), or any subsequent applicable authority.
Appears in 1 contract
Samples: Cumberland Bank Endorsement Split Dollar Agreement (Civitas Bankgroup Inc)
Economic Benefit. The Administrator shall annually determine ---------------- the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"life insurance premium factor” " is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Samples: Split Dollar Agreement and Endorsement (BNC Bancorp)
Economic Benefit. The Plan Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Samples: Split Dollar Agreement and Endorsement (Fidelity Southern Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive Director based on the life insurance premium factor for the Executive’s Director's age multiplied by the aggregate death benefit payable to the Executive’s Director's beneficiary. The “"life insurance premium factor” " is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Southcoast Financial Corp)