FORM OF EXECUTIVE SPLIT DOLLAR LIFE INSURANCE AGREEMENTS BETWEEN NEWPORT FEDERAL SAVINGS BANK AND KEVIN M. MCCARTHY, NINO MOSCARDI AND BRUCE A. WALSHAgreement • May 14th, 2007 • Newport Bancorp Inc • Savings institution, federally chartered • Rhode Island
On March 31, 2007, Newport Federal Savings Bank entered into an executive split dollar life insurance agreement with Mr. Moscardi that is substantially identical to the attached Form of Executive Split Dollar Life Insurance Agreement. On the same date, Newport Federal Savings Bank increased the benefits to Messrs. McCarthy and Walsh under their existing Executive Split Dollar Life Insurance Agreements, which are also substantially identical to the attached Form of Executive Split Dollar Life Insurance Agreement. The individual agreements differ from the attached form of agreement only with respect to the information contained in Schedule A to each agreement. The Schedules A provide as follows:
FORM OF DIRECTOR SPLIT DOLLAR LIFE INSURANCE AGREEMENTS BETWEEN NEWPORT FEDERAL SAVINGS BANK AND PETER W. RECTOR, DONALD N. KAULL, ROBERT S. LAZAR, MICHAEL S. PINTO, MICHAEL J. HAYES, BARBARA SACCUCCI RADEBACH, ALICIA S. QUIRK, PETER T. CROWLEY,...Newport Bancorp Inc • May 14th, 2007 • Savings institution, federally chartered • Rhode Island
THIS AGREEMENT, made and entered into this 31st day of March, 2007, by and among Newport Federal Savings Bank (hereinafter referred to as the “Bank”), a Bank organized and existing under the laws of Rhode Island, and __________________, hereinafter referred to as the “Director”).
FORM OF SUPPLEMENTAL DIRECTOR RETIREMENT AGREEMENTS BETWEEN NEWPORT FEDERAL SAVINGS BANK AND PETER W. RECTOR, WILLIAM R. HARVEY, DONALD N. KAULL, ROBERT S. LAZAR, MICHAEL S. PINTO, MICHAEL J. HAYES, BARBARA SACCUCCI RADEBACH, ALICIA S. QUIRK, PETER T....Supplemental Director Retirement Agreement • May 14th, 2007 • Newport Bancorp Inc • Savings institution, federally chartered • Rhode Island
THIS AGREEMENT, made and entered into this 31st day of March, 2007 (hereinafter the “Effective Date”), by Newport Federal Savings Bank, (hereinafter referred to as the “Bank”), a bank organized and existing under the laws of Rhode Island, and _______________ (hereinafter referred to as the “Director”).
FORM OF SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENTS BETWEEN NEWPORT FEDERAL SAVINGS BANK AND CAROL R. SILVEN, KEVIN M. MCCARTHY, NINO MOSCARDI, BRUCE A. WALSH AND RAY D. GILMORE, IISupplemental Executive Retirement Agreement • May 14th, 2007 • Newport Bancorp Inc • Savings institution, federally chartered • Rhode Island
THIS AGREEMENT, made and entered into this 31st day of March, 2007 (hereinafter the “Effective Date”), by Newport Federal Savings Bank, (hereinafter referred to as the “Bank”), a bank organized and existing under the laws of Rhode Island, and (hereinafter referred to as the “Employee”).
