Imputed Income. The Company shall impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 13 contracts
Samples: Split Dollar Agreement (BANKshares Inc), Split Dollar Agreement (CenterState Banks, Inc.), Split Dollar Agreement (BANKshares Inc)
Imputed Income. The Company shall impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 11 contracts
Samples: Agreement (Cooperative Bankshares Inc), Split Dollar Agreement (Ridgestone Financial Services Inc), Split Dollar Agreement (First South Bancorp Inc)
Imputed Income. The Company shall impute income to the Executive in an amount equal to 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 Revenue Rulings 64IRS Notice 2002-328 and 66-1108, or any subsequent applicable authority.
Appears in 8 contracts
Samples: Dollar Agreement (West Pointe Bancorp Inc), Dollar Agreement (West Pointe Bancorp Inc), Dollar Agreement (West Pointe Bancorp Inc)
Imputed Income. The Company shall then impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 4 contracts
Samples: Income Agreement (Community Banks Inc /Pa/), Income Agreement (Community Banks Inc /Pa/), Income Agreement (Community Banks Inc /Pa/)
Imputed Income. The Company shall then impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 4 contracts
Samples: Survivor Income Agreement (Fulton Bancshares Corp), Survivor Income Agreement (Fulton Bancshares Corp), Survivor Income Agreement (Fulton Bancshares Corp)
Imputed Income. The Company Employer shall impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 4 contracts
Samples: Split Dollar Agreement (Plumas Bancorp), Split Dollar Agreement (Plumas Bancorp), Split Dollar Agreement (Plumas Bancorp)
Imputed Income. The Company Employer shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive’s age age, multiplied by (b) the aggregate net death benefit payable to the Executive’s beneficiarybeneficiary(ies). The “current term rate” rate is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 3 contracts
Samples: Split Dollar Agreement (Charter Financial Corp), Split Dollar Agreement (Charter Financial Corp), Split Dollar Agreement (Charter Financial Corp)
Imputed Income. The Company shall then impute income to the Executive in an amount equal to 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 Internal Revenue Rulings 64Notice 2002-328 and 66-1108, or any subsequent applicable authority.
Appears in 1 contract
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate net death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 1 contract
Imputed Income. The Company shall impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-11066.-110, or any subsequent applicable authority, unless in a given year the Company is reimbursed in an amount equal to this imputed income.
Appears in 1 contract
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate te1111rate 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 1 contract
Imputed Income. The Company shall impute income annually to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 1 contract
Imputed Income. The Company shall impute income to the Executive in an amount equal to 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 Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
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