Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the Beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant to Treasury Reg. Section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 3 contracts
Sources: Supplemental Life Insurance Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc), Supplemental Life Insurance Agreement (West Pointe Bancorp Inc)
Economic Benefit. The Company Employer shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the Beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant to Treasury Reg. Section § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 3 contracts
Sources: Split Dollar Life Insurance Agreement (Eureka Homestead Bancorp, Inc.), Split Dollar Life Insurance Agreement (Eureka Homestead Bancorp, Inc.), Split Dollar Life Insurance Agreement (Valley Commerce Bancorp)
Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the BeneficiaryExecutive's beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant to Treasury IRS Reg. Section ss. 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 3 contracts
Sources: Salary Continuation Agreement (FNB Bancorp/Ca/), Salary Continuation Agreement (FNB Bancorp/Ca/), Salary Continuation Agreement (FNB Bancorp/Ca/)
Economic Benefit. The Company Employer shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's ’s age multiplied by the aggregate death benefit payable to the Beneficiary. The "“life insurance premium factor" ” is the minimum factor applicable under guidance published pursuant to Treasury Reg. Section § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 2 contracts
Sources: Split Dollar Life Insurance Agreement (WVS Financial Corp), Split Dollar Life Insurance Agreement (WVS Financial Corp)
Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's ’s age multiplied by the aggregate death benefit amount of current life insurance protection payable to the BeneficiaryExecutive’s beneficiary. The "“life insurance premium factor" ” is the minimum factor applicable amount required to be imputed under guidance published pursuant to Treasury Reg. Section Regulation § 1.61-22(d)(3)(ii) ), or any subsequent applicable authority.
Appears in 1 contract
Sources: Pre Retirement Split Dollar Agreement (County Bancorp, Inc.)
Economic Benefit. The Company Employer shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's ’s age multiplied by the aggregate death benefit amount of current life insurance protection payable to the BeneficiaryExecutive’s beneficiary. The "“life insurance premium factor" ” is the minimum factor applicable amount required to be imputed under guidance published pursuant to Treasury Reg. Section Regulation § 1.61-22(d)(3)(ii) ), or any subsequent applicable authority. The Employer shall impute the economic benefit to the Executive on an annual basis by adding the economic benefit to the Executive’s Form W-2, or, if applicable, Form 1099.
Appears in 1 contract
Sources: Split Dollar Life Insurance Agreement (ConnectOne Bancorp, Inc.)
Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the BeneficiaryExecutive's beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant to Treasury IRS Reg. Section s. 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Sources: Split Dollar Agreement (First National Lincoln Corp /Me/)
Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the BeneficiaryExecutive's beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant to Treasury IRS Reg. Section 1.61-22(d)(3)(ii1.6l-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's ’s age multiplied by the aggregate death benefit payable to the BeneficiaryExecutive’s beneficiary. The "“life insurance premium factor" ” is the minimum factor applicable under guidance published pursuant to Treasury IRS Reg. Section § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Sources: Supplemental Life Insurance Agreement (Catalyst Bancorp, Inc.)
Economic Benefit. The Company shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the BeneficiaryExecutive's beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant to Treasury IRS Reg. Section section 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Economic Benefit. The Company Employer shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive's age multiplied by the aggregate death benefit payable to the Beneficiary. The "“life insurance premium factor" ” is the minimum factor applicable under guidance published pursuant to Treasury Reg. Section § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Sources: Split Dollar Life Insurance Agreement (Community West Bancshares)