Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “current term rate” is the minimum amount required to be imputed under applicable Internal Revenue Service authority.
Appears in 10 contracts
Samples: Endorsement Split Dollar Agreement (Bank of Wilmington CORP), Endorsement Split Dollar Agreement (Midcarolina Financial Corp), Endorsement Split Dollar Agreement (BNC Bancorp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under applicable Internal Revenue Service authority.
Appears in 6 contracts
Samples: Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “current term rate” rate is the minimum amount required to be imputed under applicable Internal Revenue Service authority.
Appears in 3 contracts
Samples: Endorsement Split Dollar Agreement (Citizens South Banking Corp), Endorsement Split Dollar Agreement (Citizens South Banking Corp), Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s =s age multiplied by the aggregate death benefit payable to the Executive’s =s beneficiary. The “current Acurrent term rate” rate@ is the minimum amount required to be imputed under applicable Internal Revenue Service authority.
Appears in 3 contracts
Samples: Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “current term rate” rate is the minimum amount required to be imputed under applicable Internal Revenue Service authority.. 262
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “current term rate” rate is the minimum amount required to be imputed under applicable Internal Revenue Service authority.. 291
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the amount of the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “current term rate” rate is the minimum amount required to be imputed under applicable Internal Revenue Service authority.. 281
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive Officer based on the amount of the current term rate for the ExecutiveOfficer’s age multiplied by the aggregate death benefit payable to the ExecutiveOfficer’s beneficiary. The “current term rate” is the minimum amount required to be imputed under applicable Internal Revenue Service authority.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Midcarolina Financial Corp)
