Common use of Economic Benefit Clause in Contracts

Economic Benefit. The Bank shall determine the economic benefit attributable to the Employee based on the life insurance premium factor for the Employee’s age multiplied by the amount of current life insurance protection payable to the Employee’s beneficiary. The “life insurance premium factor” is the minimum amount required to be imputed under Treasury Regulation § 1.61-22(d)(3)(ii), or any subsequent applicable authority. The Bank shall impute the economic benefit to the Employee on an annual basis by adding the economic benefit to the Employee’s Form W-2, or, if applicable, Form 1099.

Economic Benefit. The Bank shall determine the economic benefit attributable to the Employee based on the life insurance premium factor for the Employee’s age multiplied by the amount of current life insurance protection aggregate death benefit payable to the Employee’s beneficiaryBeneficiary. The “life insurance premium factor” is the minimum amount required factor applicable under guidance published pursuant to be imputed under Treasury Regulation Reg. § 1.61-22(d)(3)(ii), ) or any subsequent applicable authority. The Bank shall impute the economic benefit to the Employee on an annual basis by adding the economic benefit to the Employee’s Form W-2, or, if applicable, Form 1099.

Economic Benefit. The Bank shall determine the economic benefit attributable to the Employee based on the life insurance premium factor for the Employee’s age multiplied by the amount of current life insurance protection payable to the Employee’s beneficiary. The “life insurance premium factor” is the minimum amount required to be imputed under Treasury Regulation § §1.61-22(d)(3)(ii), or any subsequent applicable authority. The Bank shall impute the economic benefit to the Employee on an annual basis by adding the economic benefit to the Employee’s Form W-2, or, if applicable, Form 1099ordinary income utilizing the appropriate tax form.