Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s life for another contract of life insurance insuring the Executive’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 16 contracts
Samples: Endorsement Split Dollar Agreement, Split Dollar Agreement (Fidelity Southern Corp), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.)
Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s 's life for another contract of life insurance insuring the Executive’s 's life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 7 contracts
Samples: Split Dollar Agreement (Cortland Bancorp Inc), Endorsement Split Dollar Agreement (Citizens South Banking Corp), Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may Employer may, after this Executive Split Dollar Agreement is adopted adopted, wish to exchange the Policy of life insurance on the Executive’s life for another contract of life insurance insuring the Executive’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 4 contracts
Samples: Split Dollar Agreement (Charter Financial Corp), Split Dollar Agreement (Charter Financial Corp), Split Dollar Agreement (Charter Financial Corp)
Internal Revenue Code Section 1035 Exchanges. The Executive Director recognizes and agrees that the Bank may after this Director Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the ExecutiveDirector’s life for another contract of life insurance insuring the ExecutiveDirector’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive Director agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 3 contracts
Samples: Director Split Dollar Agreement (Cullman Bancorp, Inc. /MD/), Director Split Dollar Agreement (Cullman Bancorp, Inc.), Director Split Dollar Agreement (Cullman Bancorp, Inc.)
Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may after this Executive Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s life for another contract of life insurance insuring the Executive’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 3 contracts
Samples: Executive Split Dollar Agreement (BV Financial, Inc.), Executive Split Dollar Agreement (Hamilton Bancorp, Inc.), Executive Split Dollar Agreement (Hamilton Bancorp, Inc.)
Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s =s life for another contract of life insurance insuring the Executive’s =s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 3 contracts
Samples: Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp)
Internal Revenue Code Section 1035 Exchanges. The Executive Director recognizes and agrees that the Bank Company may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the ExecutiveDirector’s life for another contract of life insurance insuring the ExecutiveDirector’s life. Provided that the Policy is replaced (or intended to be replaced) replaced with a comparable policy of life insurance, the Executive Director agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 2 contracts
Samples: Split Dollar Agreement (Cortland Bancorp Inc), Split Dollar Agreement (Cortland Bancorp Inc)
Internal Revenue Code Section 1035 Exchanges. The Executive Employee recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the ExecutiveEmployee’s life for another contract of life insurance insuring the ExecutiveEmployee’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive Employee agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 2 contracts
Samples: Split Dollar Agreement (NBT Bancorp Inc), Split Dollar Agreement (Alliance Financial Corp /Ny/)
Internal Revenue Code Section 1035 Exchanges. The Executive Officer recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the ExecutiveOfficer’s life for another contract of life insurance insuring the ExecutiveOfficer’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive Officer agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Midcarolina Financial Corp)
Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s 's life for another contract of life insurance insuring the Executive’s 's life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.. 252
Appears in 1 contract
Samples: Endorsement Split Dollar Agreement (Citizens South Banking Corp)