Common use of Key Employee Insurance Clause in Contracts

Key Employee Insurance. XStream shall have the right to obtain on the life of Executive, pay all premium amounts related to, and maintain, “key employee” insurance naming XStream as beneficiary. Selection of such insurance policy shall be in the sole and absolute discretion of the Board. Executive shall cooperate fully with XStream, the Board, and the insurer in applying for, obtaining and maintaining such life insurance, by executing and delivering such further and other documents as XStream, the Board and/or the insurer may request from time to time, and doing all matters and things which may be convenient or necessary to obtain such insurance, including, without limitation, submitting to any physical examinations and providing any medical information required by the insurer.