Split Dollar Life Insurance Agreement with Lee Johnson, Jr. SPLIT DOLLAR LIFE INSURANCE AGREEMENT ENDORSEMENT METHODSplit Dollar Life Insurance Agreement • May 16th, 2005 • M&f Bancorp Inc /Nc/ • State commercial banks • North Carolina
THIS SPLIT DOLLAR LIFE INSURANCE AGREEMENT (“Agreement”) is made this 2nd day of September, 2003, between Mechanics and Farmers Bank, a bank organized and existing under the laws of the State of North Carolina (the “Bank”), and Lee Johnson, Jr., an executive employee of the Bank or one of its subsidiary corporations (the “Executive”).
