Common use of Employer’s Interest Clause in Contracts

Employer’s Interest. The Employer shall own the Policy and shall have the right to exercise all incidents of ownership and the Employer may terminate a Policy without the consent of the Executive. The Employer shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is determined according to Section 2.2 below.

Employer’s Interest. The Employer shall own the Policy and shall have the right to exercise all incidents of ownership and ownership. However, following a Change in Control, the Employer may only terminate a Policy without with the consent of the Executive. The Employer shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is determined according to Section 2.2 below2.2.