Common use of EXCHANGE OF POLICY Clause in Contracts

EXCHANGE OF POLICY. In the event the Employer is required to exchange the Policy under Article 4, Section C, the Employee shall execute any forms necessary or appropriate to effect such exchange including, without limitation, the surrender of the Policy, the transfer of proceeds to the new insurer and the execution of a new Split Dollar Agreement and Collateral Assignment. Such exchange shall qualify under Section 1035 of the Internal Revenue Code or successor provisions of similar import.

Appears in 14 contracts

Samples: Split Dollar Agreement (J Jill Group Inc), Split Dollar Agreement (Dm Management Co /De/), Split Dollar Agreement (Dm Management Co /De/)

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