Payment of Bonuses. In order to minimize the tax consequences of this plan on the Insureds during the term of this Agreement the Corporation agrees to provide additional annual compensation in the form of a bonus to the Insureds for a period of no more than 15 years in an amount equal to the applicable federal income taxes on the taxable economic benefit as a result of the premium payments by the Corporation plus an amount equal to the applicable federal income taxes on the aggregate bonuses.
Appears in 4 contracts
Samples: Split Dollar Agreement (International Speedway Corp), Split Dollar Agreement (International Speedway Corp), Split Dollar Agreement (International Speedway Corp)
