Split Dollar Agreements. 1. Split Dollar Agreement and Collateral Assignment, dated as of October 26, 1995, by and between the Company and Xxxxxx X. Xxxxxxxx, as Trustee U/D/T of Xxxx X. Xxxxxx, pursuant to which the Company agreed to pay the premiums on a life insurance policy for Xxxx X. Xxxxxx as an additional employee benefit.
Split Dollar Agreements. The Employer acknowledges and agrees that this Agreement shall have no impact on the Amended Endorsement Split Dollar Agreement, dated as of December 18, 2007, between Bank of North Carolina and the Executive, which shall continue in accordance with its terms.
Split Dollar Agreements. Prior to the Merger Effective ------------------------- Date, Xxxxxx Bank shall terminate or cause to be terminated all supplemental and split dollar life insurance agreements between Xxxxxx Bank and its employees and directors, including the agreements with Messrs. Gilbert, Malecki, Rapke and Xxxxxx. As a condition to entering into this Agreement, contemporaneously with the execution of this Agreement, Messrs. Gilbert, Malecki, Rapke and Xxxxxx shall each enter into a written agreement, satisfactory to Oneida Financial and subject to any required regulatory approval or non-objection, agreeing to a settlement of the split dollar agreements and releasing Xxxxxx Bank, VBC, Oneida Financial and Oneida Savings, and their affiliates, from any and all claims arising thereunder.
Split Dollar Agreements. Purchaser Bank shall maintain the split dollar insurance arrangement referenced in Schedule 4.03(e) to the extent specified in such Schedule 4.03(e). If Purchaser or Purchaser Bank so directs, Seller shall take such action as is necessary to terminate, or transfer to the insured, all other split dollar insurance arrangements maintained by the Seller or Seller Bank in a manner directed by Purchaser or Purchaser Bank.
Split Dollar Agreements. As of the Closing Date, Schedule 5.29 sets forth all split dollar agreements to which the Borrower or any of its Subsidiaries is a party, all collateral assignments relating to such agreements, all split dollar life insurance policies that have been assigned to the Borrower or any of its Subsidiaries, all rabbi trust agreements to which the Borrower or any Subsidiary is a party, and all related escrow agreements and promissory notes.
Split Dollar Agreements. Penns Woods agrees to continue to pay, or cause the contixxxxxon and payment of, the premiums relating to the current split-dollar life insurance arrangements for William H. Rockey and Rickey B. Brooks, as describex xx Xxxxxxx 0.00 of txx XXXXX Xxxxxxxure Schedule, until the respective retirements of William H. Rockey and Rickey B. Brooks provided thax XXXXX xxx xxxx of suxx xxxxxxxxxxx xxecutes a customary form of written agreement applicable to such arrangements which is reasonably satisfactory to Penns Woods and which provides, among other things, for txx xximbursement of all premiums paid on behalf of such individual upon death, retirement, or other termination of employment.
Split Dollar Agreements. Buyer acknowledges that Seller Bank is a party to a split dollar agreement with each of the seven executive officers of Seller Bank who are parties to executive supplemental compensation agreements with the Seller and Seller Bank, and that each agreement and the underlying life insurance policy or policies must remain in effect during the life of such executive and the entitlement of such executive’s beneficiaries thereunder shall survive the death of such executive. Seller Bank represents and warrants that all premiums for the underlying life insurance policies are fully paid up.
