Common use of Key Person Insurance Clause in Contracts

Key Person Insurance. The Executive agrees that the Company shall have the right, but not the obligation, to obtain key person insurance on the Executive with the Company as the sole beneficiary thereof. The Executive shall (a) cooperate fully in obtaining such insurance; (b) sign any necessary consents, applications and other related forms or documents; and (c) take any reasonably required medical examinations.

Key Person Insurance. The Executive agrees that the Company shall have the right, but not the obligation, right to obtain key person insurance on the Executive with the Company as the sole beneficiary thereof. The Executive shall (a) reasonably cooperate fully in obtaining such insurance; (b) sign any reasonably necessary consents, applications and other related forms or documents; and (c) take any reasonably required medical examinations.