Split Dollar Agreement definition

Split Dollar Agreement means the Split Dollar Agreement between the Company and Xxxxxxxx X. Xxxxx, Xxxxx X. Xxxxx and Xxxxxxx X. Xxxxxx, as trustees of an insurance trust established by Xxxxxxxx X. Xxxxx, as in effect on the Closing Date.
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Split Dollar Agreement means an agreement between the Borrower or any of its Subsidiaries and an employee of the Borrower or such Subsidiary (or one or more affiliates of such employee that shall be the owner of the policy of life insurance referred to below), pursuant to which the Borrower or such Subsidiary shall agree to fund non-scheduled premiums under a policy of insurance on the life of such employee and such employee (or such affiliate or affiliates) shall agree to reimburse the Borrower or such Subsidiary for such non-scheduled premiums upon the termination of such agreement.
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Split Dollar Agreement means the Split Dollar Agreement executed by the Owner, the Eligible Executive and the Company with respect to the Company's interest in the Policy. A specimen form of Split Dollar Agreement is annexed hereto and made a part hereof.
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Examples of Split Dollar Agreement in a sentence

  • Any notice, consent or demand required or permitted to be given under the provisions of this Split Dollar Agreement by one party to another shall be in writing, shall be signed by the party giving or making the same, and may be given either by delivering the same to such other party personally, or by mailing the same, by United States certified mail, postage prepaid, to such party, addressed to his or her last known address as shown on the records of the Company.

  • The Insurer shall not be bound by or be deemed to have notice of the provisions of this Split Dollar Agreement.

  • However, no benefits under this Agreement or under the Endorsement Split Dollar Agreement shall be paid or payable to the Executive or the Executive’s Beneficiary if this Agreement is terminated under Article 5.

  • A death benefit may be provided according to the terms of a separate Split Dollar Agreement entered into by the Company and the Executive.

  • The Director may assign without consideration all interests in the Policy and in this Split Dollar Agreement to any person, entity or trust.


More Definitions of Split Dollar Agreement

Split Dollar Agreement means the Split Dollar Agreement between the Company and Nicholas A. Pagon, Holly T. Pagon and Michael B. Jordan, as trustees of an insurance trust established by Marshall W. Pagon, as in effect on the Closing Date.
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Split Dollar Agreement means that certain Split-Dollar Life Insurance Agreement, dated as of July 1, 1998, between the Company and the Executive.
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Split Dollar Agreement means the Split-Dollar Agreement related to the Life Insurance to be entered into between the Optionee and the Company and substantially in the form of Exhibit B retroactive to the date hereof, when the Life Insurance is in force.
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Split Dollar Agreement means an agreement between the Participant and the Participating Employer that relates to the payment of
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Split Dollar Agreement has the meaning set forth in Section 2(g).
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Split Dollar Agreement means an agreement, substantially in the form attached hereto as Exhibit 2 but with such changes as the Committee in its discretion shall deem appropriate in each case, which may be entered into with a Member to provide for payment of Death Benefits in accordance with Article III hereof.
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Split Dollar Agreement shall refer to the Agreement entered into between the Owner and the Assignee dated ,which is the --------------------------- subject of this Collateral Assignment. In consideration of the Split-Dollar Agreement (the "Agreement") entered into between the above named Assignee and Owner, Assignee and Owner agree as follows:
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