Key Person Life Insurance. The Company shall maintain and keep in full force and effect key person life insurance on the life of Shalxx X. Xxxxxx xx an aggregate amount of not less than $5,000,000 with the proceeds thereof payable to the Company.
Appears in 4 contracts
Samples: Preferred Stock Purchase Agreement (State Communications Inc), Preferred Stock Purchase Agreement (State Communications Inc), Preferred Stock Purchase Agreement (State Communications Inc)
Key Person Life Insurance. The Company shall at all times maintain and keep in full force and effect key person effect, a policy of “key-person” life insurance on the life of Shalxx X. Xxxxxx xx an aggregate amount Xxx Xxxxx with minimum coverage of not less than $5,000,000 with 1,000,000, the proceeds thereof of which shall be payable to the Company.
Appears in 3 contracts
Samples: Investor Rights Agreement (Alimera Sciences Inc), Investor Rights Agreement (Alimera Sciences Inc), Investor Rights Agreement (Alimera Sciences Inc)
Key Person Life Insurance. The Company shall at all times maintain and keep in full force and effect key person effect, a policy or policies of “key-person” life insurance on the life lives of Shalxx X. Xxxxxx xx an aggregate amount Xxx Xxxxx, Xxxx Xxxxx and Xxxxx Xxxxxxx, with minimum coverage of not less than $5,000,000 with 1,500,000 per life, the proceeds thereof of which shall be payable to the Company.
Appears in 1 contract
Key Person Life Insurance. The Company shall maintain and keep have in full force and effect key person term life insurance on the life of Shalxx X. Xxxxxx xx an aggregate amount of not less than $5,000,000 with the proceeds thereof insurance, payable to the Company, on the lives of Nancx Xxxx, Xxffxxx X. Xxxx, Xxeg Xxxxxxxx, Xxlpx Xxxxxxx xxx Greg Xxxxx, xxspectively, in the amount of $250,000 on each such person's life, unless otherwise determined by the Board of Directors.
Appears in 1 contract
Samples: Rights Agreement (Accelgraphics Inc)
Key Person Life Insurance. The Company shall maintain and keep in full force and effect a key person life insurance policy on the life of Shalxx each of Xxxx X. Xxxxxxxxxxxxx and Xxxxx X. Xxxxxx xx in an aggregate amount of not less than $5,000,000 with 2,000,000 per individual, the proceeds thereof of which shall be payable to the Company.
Appears in 1 contract
Samples: Secured Subordinated Convertible Note and Warrant Purchase Agreement (Nupathe Inc.)
