Life/Disability Insurance. Employer shall have the right at any time during the term hereof to obtain and maintain life insurance on Employee's life and disability insurance with respect to Employee, at Employer's sole expense, naming Employer as the sole beneficiary thereof. Employee shall (i) cooperate fully with Employer in obtaining such life and/or disability insurance, (ii) sign any necessary consents, applications, and other related forms or documents, and (iii) take any required medical examinations.
Life/Disability Insurance. The Company shall continue to pay the premium related to the Executive's life insurance and long-term disability insurance for the 2-year period commencing on the Executive's Date of Termination.
Life/Disability Insurance. The School Board will pay 100% of an insurance package which will include $35,000 Life Insurance; $35,000 Accidental Death Benefit; Dismemberment and Loss of Sight Insurance (twenty-four hour coverage). Amounts will be reduced 50% beginning at age 65. Monthly disability insurance will be equivalent to 2/3 of monthly earnings, up to $3,500 per month. Maximum duration of payment is five years. For accidents and/or sickness, benefits begin on the 90th calendar day, or after accumulated sick leave is exhausted, whichever is greater. Selection of an insurance carrier will be at the sole discretion of the School Board.
Life/Disability Insurance. The Company shall provide universal ------------------------- (or other non-term) life insurance for the benefit of Executive and his beneficiaries in an amount not less than Five Million Dollars ($5,000,000). Furthermore, the Company shall provide, at Executive's expense, disability insurance for the benefit of Executive. Executive's Base Salary shall be increased by the amount of the annual premium for such disability coverage and the Company's records shall reflect that the premiums for the disability policy have been paid by the Executive. The above benefits are subject to availability at reasonable cost and any limitations resulting from Executive's physical condition. The policy shall accrue to the benefit of Executive and Executive shall be entitled to the full ownership and benefit of the life insurance policy, even after termination of his employment for any reason.
Life/Disability Insurance. The Company shall provide, at Company expense, term life insurance for the benefit of Employee in the amount of $600,000 payable to the Executive's designees in accordance with a plan for executive officers of the Company. The Company's benefit plan for executive officers shall provide, at Employee's expense, disability insurance for the benefit of Employee and his beneficiaries through a Company plan reasonable acceptable to Employee. Employee's Base Salary shall be increased by the amount of the annual premium for such coverage. The Company shall cause its records to reflect that the premiums for the disability policy have been paid by the Employee, including Form W-2 prepared by the Company. The above benefits are subject to the same being available to the Company at reasonable cost and any limitations resulting from Employee's physical condition.
Life/Disability Insurance. The Company will pay the annual premiums for universal life insurance (or other non-term life insurance) for the benefit of Executive and his beneficiaries, with a policy coverage amount of not less than Five Million Dollars ($5,000,000). Furthermore, the Company will provide, at Executive’s expense, disability insurance for the benefit of Executive. Executive’s Base Salary will be increased by the amount of the annual premium for such disability coverage and the Company’s records will reflect that the premiums for the disability policy have been paid by the Executive. The above benefits are subject to availability at reasonable cost and any limitations resulting from Executive’s physical condition; and provided that in no event shall the premiums for the life and disability insurance contemplated by this Section 4(b) for any particular year exceed Fifty Thousand Dollars ($50,000) in the aggregate (such cap shall be adjusted annually based on the cost of living adjustments applicable to U.S. social security benefits beginning with calendar year 2012). Executive shall not be entitled to any tax gross-up for these benefits. In the event the premiums exceed such cap, the Company shall pay the annual premiums for such coverage as may be available and which is as comparable to the above coverage as possible, with total premiums for any particular year not to exceed the annual premium cap specified above. The life insurance policy will accrue to the benefit of Executive and Executive will be entitled to the full ownership and benefit of the policy, even after termination of his employment for any reason.
Life/Disability Insurance. Annually, the School Board shall reimburse the Superintendent up to One Thousand Dollars ($1,000.00) to assist the Superintendent in purchasing life/disability insurance. Such insurance policy shall be the sole financial responsibility of the Superintendent, and the policy shall belong to the Superintendent.
Life/Disability Insurance. The BOCES Board will pay the annual premium on the life insurance policy (Northwestern Mutual Policy #21-721-587), life insurance policy (Northwestern Mutual Policy #18-716-300), and disability insurance policy (Northwestern Mutual Policy #D2-046-211) for the District Superintendent. It shall be the responsibility of the District Superintendent to select and make arrangements for such insurance. Payment shall be made upon presentation to the BOCES of a copy of the premium xxxx or invoice.
Life/Disability Insurance. The Employer shall make reasonable efforts to continue to provide Employees with the option of enrolling in life or disability insurance through a carrier affiliated with the Employer at the Employee’s own option and cost.
Life/Disability Insurance. (i) The Executive agrees that the Corporation may at any time or times and for the Corporation’s own benefit apply for and take out life, health, accident and other insurance covering the Executive either independently or together with others, in an amount the Corporation deems to be in its best interests and the Corporation may maintain any existing insurance policies on the life of the Executive owned by the Corporation. The Corporation shall own all rights in the insurance and in the cash value and proceeds thereof and the Executive shall not have any right, title or interest therein.
