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 47 contracts
Sources: Split Dollar Agreement (Sb Financial Group, Inc.), Split Dollar Agreement, Split Dollar Agreement (Cortland Bancorp 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 6 contracts
Sources: 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 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 4 contracts
Sources: Endorsement Split Dollar Agreement, Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, 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
Sources: Endorsement Split Dollar Agreement (Southcoast Financial Corp), Endorsement Split Dollar 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
Sources: 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 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
Sources: 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 '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
Sources: Split Dollar Agreement (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
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
Sources: Endorsement Split Dollar Agreement (Civitas Bankgroup Inc)