Economic Benefit. The Bank shall determine the economic benefit attributable to the Director based on the life insurance premium factor for the Director’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.§ 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 6 contracts
Samples: Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc), Split Dollar Life Insurance Agreement (Investors Bancorp Inc)
Economic Benefit. The Bank Company shall determine the economic benefit attributable to the Director based on the life insurance premium factor for the Director’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.§ Reg. § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 2 contracts
Samples: Split Dollar Agreement (First Community Financial Corp), Split Dollar Agreement (First Community Financial Corp)
Economic Benefit. The Bank shall determine the economic benefit attributable to the Director based on the life insurance premium factor for the Director’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.§ Reg. § 1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 2 contracts
Samples: Endorsement Split Dollar Life Insurance Agreement (Heritage NOLA Bancorp, Inc.), Split Dollar Life Insurance Agreement (Alamogordo Financial Corp)
Economic Benefit. The Bank shall determine the economic benefit attributable to the Director based on the life insurance premium factor for the Director’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.§ Reg. §1.61-22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Temecula Valley Bancorp Inc)
Economic Benefit. The Bank shall determine the economic benefit attributable to the Director based on the life insurance premium factor for the Director’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.§ 1.61-22(d)(3)(iiReg. 1.61 -22(d)(3)(ii) or any subsequent authority.
Appears in 1 contract
Samples: Supplemental Life Insurance Agreement (Ameriana Bancorp)
