Key Executive Life Insurance Sample Clauses

Key Executive Life Insurance. The Company shall maintain with financially sound and reputable insurers life insurance policies on Xxxxxx X. Xxxxxxxxx in an amount of at least $2,000,000 in form reasonably satisfactory to the Agent.
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Key Executive Life Insurance. To the extent approved by the Compensation Committee of the Bank or the Company, you will be eligible to participate in the Bank's Key Executive Life Insurance/Death Benefit Plan.
Key Executive Life Insurance. The Borrower and its Subsidiaries shall collaterally assign to the Agent for the benefit of the Lenders all life insurance policies for which any of the Borrower and its Subsidiaries are the beneficiary, on each officer or doctor employed by the Borrower or any of its Subsidiaries.
Key Executive Life Insurance. The Borrower and its Subsidiaries shall maintain with financially sound and reputable insurers life insurance policies on each of E.G. Poulxx, X.X. Xxxxxxx and A.P. Xxxxxxxxx xx an amount of at least $2,000,000 each in form satisfactory to the Agent, and, on each doctor employed by the Borrower or any of its Subsidiaries in an amount not less than and in the form of any life insurance policy maintained by the Borrower and its Subsidiaries on such individual as of or immediately prior to the Initial Closing Date.
Key Executive Life Insurance. The Company shall maintain with financially sound and reputable insurers life insurance policies on each of Boyd X. Xxxxx, Xxbexx X. Xxxx xxx Petex Xxxxx xx an amount of at least $2,000,000, each in form reasonably satisfactory to the Agent.
Key Executive Life Insurance. From and after May 15, 2000 the Company shall maintain with financially sound and reputable insurers customary life insurance policies on Terrx Xxxxx xx an amount of at least $3,000,000 (to the extent available on customary terms).
Key Executive Life Insurance. The Company shall have the right to purchase in the Executive’s name a “key executivelife insurance policy naming the Company or any of its Subsidiaries as the sole beneficiary thereunder. The Executive agrees to take all reasonable measures necessary to effect the foregoing, including without limitation submitting to a physical examination for the purpose of determining eligibility therefore and cooperating with any matters related to the application for, and if obtained, the maintenance of, such insurance policy. If Executive is found ineligible for some reason for such “key executive” life insurance either at the inception of her employment or at anytime thereafter, this ineligibility will not, in and of itself, affect Executive’s employability under this Agreement or constitute Cause for termination of Executive’s employment.
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Key Executive Life Insurance. The Borrower and its ---------------------------- Subsidiaries shall collaterally assign to the Agent for the benefit of the Lenders all life insurance policies for which any of the Borrower and its Subsidiaries are the beneficiary, on each officer or doctor employed by the Borrower or any of its Subsidiaries.
Key Executive Life Insurance. Set forth on Schedule 13 attached hereto is a complete description of all existing key executive life insurance policies.

Related to Key Executive Life Insurance

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Group Life Insurance Plan Eligibility

  • Key Person Life Insurance The Company will maintain key person life insurance in an amount not less than $1,200,000 on the life of E. Xxxxxxx Xxxxx and pay the annual premiums therefor naming the Company as the sole beneficiary thereof for at least three years following the Effective Date.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.

  • Group Term Life Insurance The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages. Benefits will be payable as a result of death from any cause on a twenty-four (24) hour coverage basis.

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