Split-Dollar Agreement (17K)
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SPLIT-DOLLAR AGREEMENT
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THIS AGREEMENT made and entered into as of this 1st day of April, 2000, by
and between Washington Real Estate Investment Trust, with principal offices and
place of business in the State of Maryland (hereinafter referred to as the
"Employer"), and [Writ Officers] an individual residing at [Home Address]
(hereinafter referred to as the "Employee"),
WITNESSETH THAT:
WHEREAS, the Employee is employed by the Employer; and
WHEREAS, the Employee wishes to provide life insurance protection for his
family in the event of his death, under a policy of life insurance insuring his
life (hereinafter referred to as the "Policy"), which is described in Exhibit A
attached hereto and by this reference made a part hereof, and which is being
issued by Pacific Life Insurance Company (hereinafter referred to as the
"Insurer"); and
WHEREAS, the Employer is willing to pay the premiums due on the Policy as
an additional employment benefit for the Employee, on the terms and conditions
hereinafter set forth; and
WHEREAS, the Employee is the owner of the Policy and, as such, possesses
all incidents of ownership in and to the Policy; and
WHEREAS, the Employer wishes to have the Policy collaterally assigned to it
by the Employee, in order to secure the repayment of the amounts which it will
pay toward the premiums on the Policy;
NOW, THEREFORE, in consideration of the premises and of the mutual promises
contained herein, the parties hereto agree as follows:
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