Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 14 contracts
Samples: Split Dollar Agreement, Split Dollar Agreement (CenterState Banks, Inc.), Split Dollar Agreement (BANKshares Inc)
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 11 contracts
Samples: Split Dollar Agreement (Peoples Bancorporation Inc /Sc/), Split Dollar Agreement (Ridgestone Financial Services Inc), Executive Indexed Retirement Agreement (Cooperative Bankshares Inc)
Imputed Income. The Company Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive’s age 's age, multiplied by (b) the aggregate net death benefit payable to the Executive’s beneficiary's beneficiary(ies). The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 9 contracts
Samples: Salary Continuation and Split Dollar Agreement (First Northern Community Bancorp), Salary Continuation Agreement (Intermountain Community Bancorp), Salary Continuation Agreement (Intermountain Community Bancorp)
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64IRS Notice 2002-328 and 66-1108, or any subsequent applicable authority.
Appears in 8 contracts
Samples: Split Dollar Agreement (West Pointe Bancorp Inc), Split Dollar Agreement (West Pointe Bancorp Inc), Split Dollar Agreement (West Pointe Bancorp Inc)
Imputed Income. The Company Employer shall impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 4 contracts
Samples: Split Dollar Agreement (Plumas Bancorp), Split Dollar Agreement (Plumas Bancorp), Split Dollar Agreement (Plumas Bancorp)
Imputed Income. The Company shall then impute income to the Executive in an amount equal to the current term rate for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 4 contracts
Samples: Survivor Income Agreement (Fulton Bancshares Corp), Survivor Income Agreement (Fulton Bancshares Corp), Survivor Income Agreement (Fulton Bancshares Corp)
Imputed Income. The Company shall then impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 4 contracts
Samples: Survivor Income Agreement (Community Banks Inc /Pa/), Survivor Income Agreement (Community Banks Inc /Pa/), Survivor Income Agreement (Community Banks Inc /Pa/)
Imputed Income. The Company Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive’s age 's age, multiplied by (b) the aggregate net death benefit payable to the Executive’s beneficiary's beneficiary(ies). The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-64- 328 and 66-110, or any subsequent applicable authority.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Unizan Financial Corp)
Imputed Income. The Company Employer shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive’s age age, multiplied by (b) the aggregate net death benefit payable to the Executive’s beneficiarybeneficiary(ies). The “current term rate” rate is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 3 contracts
Samples: Split Dollar Agreement (Charter Financial Corp), Split Dollar Agreement (Charter Financial Corp), Split Dollar Agreement (Charter Financial Corp)
Imputed Income. The Company Bank shall impute income to the Executive in an amount equal to (a) the current term rate for the Executive’s age 's age, multiplied by (b) the aggregate net death benefit payable to the Executive’s beneficiary's Beneficiary under this Split Dollar Agreement. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 2 contracts
Samples: Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares)
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate te1111rate for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
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Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-11066.-110, or any subsequent applicable authority, unless in a given year the Company is reimbursed in an amount equal to this imputed income.
Appears in 1 contract
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 1 contract
Imputed Income. The Company shall impute income annually to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 1 contract
Imputed Income. The Company shall then impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Internal Revenue Rulings 64Notice 2002-328 and 66-1108, or any subsequent applicable authority.
Appears in 1 contract
Samples: Survivor Income Agreement (Community Banks Inc /Pa/)
Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive’s 's age multiplied by the aggregate net death benefit payable to the Executive’s 's beneficiary. The “"current term rate” " is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.
Appears in 1 contract
