Imputed Income. The Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive's age, multiplied by (b) the net death benefit payable to the Executive's beneficiary(ies). 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 9 contracts
Samples: Man Split Dollar Agreement (Unb Corp/Oh), Split Dollar Agreement (Fc Banc Corp), Continuation Agreement (Intermountain Community Bancorp)
Imputed Income. The Bank shall impute income to the Executive Director in an amount equal to (a) the current term rate for the Executive's Director’ s age, multiplied by (b) the net death benefit payable to the Executive's Director’ s beneficiary(ies). The "“current term rate" ” is the minimum amount required to be imputed under IRS Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 5 contracts
Samples: Dollar Agreement (Central Valley Community Bancorp), Dollar Agreement (Central Valley Community Bancorp), Dollar Agreement and Endorsement (Central Valley Community Bancorp)
Imputed Income. The Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive's age, multiplied by (b) the net death benefit payable to the Executive's beneficiary(ies). The "current term rate" is the minimum amount required to be imputed under Revenue Rulings 64-64- 328 and 66-110, or any subsequent applicable authority.
Appears in 3 contracts
Samples: Continuation Agreement (Unizan Financial Corp), Continuation Agreement (Unizan Financial Corp), Dollar Agreement (Unizan Financial Corp)
Imputed Income. The Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive's ’s age, multiplied by (b) the net death benefit payable to the Executive's ’s beneficiary(ies). 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 2 contracts
Samples: Split Dollar Agreement (Newmil Bancorp Inc), Split Dollar Agreement (Newmil Bancorp Inc)
Imputed Income. The Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive's age, multiplied by (b) the net death benefit payable to the Executive's beneficiary(ies)Beneficiary under this Split Dollar Agreement. 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 2 contracts
Samples: Continuation Agreement (American River Bankshares), Dollar Agreement (American River Bankshares)
Imputed Income. The Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive's ’s age, multiplied by (b) the net death benefit payable to the Executive's ’s beneficiary(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 2 contracts
Samples: Executive Split Dollar Agreement (Hamilton Bancorp, Inc.), Executive Split Dollar Agreement (Hamilton Bancorp, Inc.)
Imputed Income. The Bank 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 net death benefit payable to the Executive's beneficiary(ies)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 Bank 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 net aggregate death benefit payable to the Executive's beneficiary(ies)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
Samples: Agreement (East Penn Financial Corp)
Imputed Income. The Bank shall impute income to the Executive Executive's Trust in an amount equal to (a) the current term rate for the Executive's age, multiplied by (b) the net death benefit payable to the Executive's beneficiary(ies). 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
Samples: Dollar Agreement (Unb Corp/Oh)
