Life Cover. 4.6 The Executive will be provided with Life Cover. The amount of Life Cover in the event of the Executive’s death during the Employment will be equal to four times the annual salary set out in Clause 3.1 irrespective of whether or not the Executive is a member of the Lloyds TSB Group Pension Scheme (No 2). Such Life Cover will be provided under the terms of the Lloyds TSB Group Pension Scheme (No.2) (subject to the proviso that any Life Cover in excess of the Lifetime Allowance applicable to registered pension schemes will be provided by the Employer).
Appears in 4 contracts
Samples: Director Service Agreement (Lloyds Banking Group PLC), Group Executive Director Service Agreement (Lloyds Banking Group PLC), Group Executive Director Service Agreement (Lloyds Banking Group PLC)
