First Amendment to Endorsement Method Split-Dollar Agreement between Red River Bank and Tammi Salazar
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Summary
Red River Bank and Tammi Salazar have amended their existing split-dollar agreement, originally effective October 1, 2004, to add a second life insurance policy issued by New York Life Insurance Company. The Bank remains the policy owner, and Tammi Salazar is the insured as an employee and officer of the Bank. All other terms of the original agreement remain unchanged.
EX-10.1 2 rrbiex101splitdollaramendm.htm EX-10.1 Document
Exhibit 10.1
FIRST AMENDMENT
TO THE
ENDORSEMENT METHOD SPLIT-DOLLAR AGREEMENT
THIS FIRST AMENDMENT is entered into this 23rd day of June 2023, effective as of June 1, 2023, by and between Red River Bank, a Louisiana banking corporation (the “Bank”), and Tammi Salazar (the “Insured”).
The Bank and the Insured executed the Endorsement Method Split-Dollar Agreement effective on October 1, 2004 (the “Agreement”). The undersigned desire to amend the Agreement for the purpose of endorsing another life insurance policy to the Agreement.
NOW, THEREFORE, the parties do hereby agree, effective as of June 1, 2023,
To add a second life insurance policy to Section 1. of the Agreement as follows:
“(b) Policy number: 77256716
Insurer: New York Life Insurance Company
Insured: Tammi Salazar
Owner of Policy: Bank
Relationship of Bank to Insured: Insured is an employee and officer of Bank”
Except as specifically amended hereby, the Agreement shall remain in full force and effect as prior to this FIRST AMENDMENT.
IN WITNESS OF THE ABOVE, the Bank and the Insured have executed this FIRST AMENDMENT on the date first set forth above.
Insured:
/s/ Tammi Salazar
Tammi Salazar
Red River Bank
By /s/ Andrew B. Cutrer
Title Senior Vice President and Director of Human Resources
