FIRST AMENDMENT TO THE CORTLAND BANCORP. SPLIT DOLLAR AGREEMENT DATED FEBRUARY 23, 2001
Exhibit 10.12
THIS FIRST AMENDMENT is adopted this
day of
, 20
, by and
between CORTLAND BANCORP., a holding company located in Cortland, Ohio (the “Company”) and Xxxxx
Xxxx (the “Director”).
On February 23, 2001, the Company and the Director executed the Split Dollar Agreement (the
“Agreement”).
According to the terms of Article 7, the undersigned hereby amend, in part, said Agreement for
the purpose of updating (1) the definition of Insurer and (2) the definition of Policy. Therefore,
Section 1.1 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.1 as follows:
1.1 | “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement for this Agreement. |
Section 1.2 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.2 as follows:
1.2 | “Policy” means the specific life insurance policy or policies issued by the Insurer(s). |
IN WITNESS OF THE ABOVE, the Company and Director hereby consent to this First Amendment.
DIRECTOR: | CORTLAND BANCORP. | |||||||
By: | ||||||||
Title: | ||||||||
THIS FIRST AMENDMENT is adopted this day of , 20 , by and
between CORTLAND BANCORP., a holding company located in Cortland, Ohio (the “Company”) and Xxxxxxx
Xxxxxxx (the “Director”).
On February 23, 2001, the Company and the Director executed the Split Dollar Agreement (the
“Agreement”).
According to the terms of Article 7, the undersigned hereby amend, in part, said Agreement for
the purpose of updating (1) the definition of Insurer and (2) the definition of Policy. Therefore,
Section 1.1 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.1 as follows:
1.1 | “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement for this Agreement. |
Section 1.2 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.2 as follows:
1.2 | “Policy” means the specific life insurance policy or policies issued by the Insurer(s). |
IN WITNESS OF THE ABOVE, the Company and Director hereby consent to this First Amendment.
DIRECTOR: | CORTLAND BANCORP. | |||||||
By: | ||||||||
Title: | ||||||||
THIS FIRST AMENDMENT is adopted this day of
, 20 , by and between CORTLAND BANCORP., a holding company located in
Cortland, Ohio (the “Company”) and Xxxxxxx Xxxxxxxx (the “Director”).
On October 1, 2001, the Company and the Director executed the Split Dollar Agreement (the
“Agreement”).
According to the terms of Article 7, the undersigned hereby amend, in part, said Agreement for
the purpose of updating (1) the definition of Insurer and (2) the definition of Policy. Therefore,
Section 1.1 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.1 as follows:
1.1 | “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement for this Agreement. |
Section 1.2 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.2 as follows:
1.2 | “Policy” means the specific life insurance policy or policies issued by the Insurer(s). |
IN WITNESS OF THE ABOVE, the Company and Director hereby consent to this First Amendment.
DIRECTOR: | CORTLAND BANCORP. | |||||||
By: | ||||||||
Title: | ||||||||
THIS FIRST AMENDMENT is adopted this day of
, 20 , by and
between CORTLAND BANCORP., a holding company located in Cortland, Ohio (the “Company”) and Xxxx
Xxxxx (the “Director”).
On February 23, 2001, the Company and the Director executed the Split Dollar Agreement (the
“Agreement”).
According to the terms of Article 7, the undersigned hereby amend, in part, said Agreement for
the purpose of updating (1) the definition of Insurer and (2) the definition of Policy. Therefore,
Section 1.1 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.1 as follows:
1.1 | “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement for this Agreement. |
Section 1.2 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.2 as follows:
1.2 | “Policy” means the specific life insurance policy or policies issued by the Insurer(s). |
IN WITNESS OF THE ABOVE, the Company and Director hereby consent to this First Amendment.
DIRECTOR: | CORTLAND BANCORP. | |||||||
By: | ||||||||
Title: | ||||||||
THIS FIRST AMENDMENT is adopted this day of
, 20 , by and
between CORTLAND BANCORP., a holding company located in Cortland, Ohio (the “Company”) and Xxxxx
Xxxxxxx III (the “Director”).
On February 23, 2001, the Company and the Director executed the Split Dollar Agreement (the
“Agreement”).
According to the terms of Article 7, the undersigned hereby amend, in part, said Agreement for
the purpose of updating (1) the definition of Insurer and (2) the definition of Policy. Therefore,
Section 1.1 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.1 as follows:
1.1 | “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement for this Agreement. |
Section 1.2 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.2 as follows:
1.2 | “Policy” means the specific life insurance policy or policies issued by the Insurer(s). |
IN WITNESS OF THE ABOVE, the Company and Director hereby consent to this First Amendment.
DIRECTOR: | CORTLAND BANCORP. | |||||||
By: | ||||||||
Title: | ||||||||
FIRST AMENDMENT
TO THE
CORTLAND BANCORP.
SPLIT DOLLAR AGREEMENT
DATED FEBRUARY 23, 2001
TO THE
CORTLAND BANCORP.
SPLIT DOLLAR AGREEMENT
DATED FEBRUARY 23, 2001
THIS FIRST AMENDMENT is adopted this day of
, 20 , by and
between CORTLAND BANCORP., a holding company located in Cortland, Ohio (the “Company”) and Xxxxxx
Xxxxxxx (the “Director”).
On February 23, 2001, the Company and the Director executed the Split Dollar Agreement (the
“Agreement”).
According to the terms of Article 7, the undersigned hereby amend, in part, said Agreement for
the purpose of updating (1) the definition of Insurer and (2) the definition of Policy. Therefore,
Section 1.1 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.1 as follows:
1.1 | “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement for this Agreement. |
Section 1.2 of the Agreement shall be deleted in its entirety and replaced by the new Section
1.2 as follows:
1.2 | “Policy” means the specific life insurance policy or policies issued by the Insurer(s). |
IN WITNESS OF THE ABOVE, the Company and Director hereby consent to this First Amendment.
DIRECTOR: | CORTLAND BANCORP. | |||||||
By: | ||||||||
Title: | ||||||||