Common use of Life and Disability Insurance Clause in Contracts

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his annual Base Salary hereunder, payable to such beneficiary or beneficiaries as shall be designated by him in writing and (b) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his then current Base Salary, payable until Executive shall reach 70 years of age, with a waiting period not to exceed 120 days.

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his annual Base Salary hereunderHEREUNDER, payable to such beneficiary or beneficiaries as shall be designated by him in writing and (b) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his then current Base Salary, payable until Executive shall reach 70 65 years of age, with a waiting period not to exceed 120 days.

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his annual Base Salary hereunder, payable to such beneficiary or beneficiaries as shall be designated by him in writing and (b) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his then current Base Salary, payable until Executive shall reach 70 65 years of age, with a waiting period not to exceed 120 days. This paragraph is effective, if and when all officers compensation includes this provision.

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his annual Base Salary hereunder, payable to such beneficiary or beneficiaries as shall be designated by him in writing and (b) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his then current Base Salary, payable until Executive shall reach 70 65 years of age, with a waiting period not to exceed 120 days.

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his annual Base Salary hereunderHEREUNDER, payable to such beneficiary or beneficiaries as shall be designated by him in writing and (b) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his then current Base Salary, payable until Executive shall reach 70 65 years of age, with a waiting period not to exceed 120 days. This paragraph is effective, if and when all officers compensation includes this provision.

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his her annual Base Salary hereunder, payable to such beneficiary or beneficiaries as shall be designated by him her in writing and (bii) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his her then current Base Salary, payable until Executive shall reach 70 65 years of age, with a waiting period not to exceed 120 days.

Life and Disability Insurance. The Corporation shall provide the Executive with (i) a policy of term life insurance in an amount equal to not less than three (3) times his annual Base Salary hereunder, payable to such beneficiary or beneficiaries as shall be designated by him in writing and (b) a policy of disability insurance that will provide Executive with an annual amount equal to not less than seventy-five percent (75%) of his then current Base Salary, payable until Executive shall reach 70 65 years of age, with a waiting period not to exceed 120 days. This term shall not become effective until the Corporation reaches revenues sufficient for its payment.