Life Insurance and Other Benefits. (a) The Company shall provide to Executive and his spouse and dependents the life, health and dental insurance coverage described on Annex A to this Agreement.
Life Insurance and Other Benefits. Subject to the Executive submitting to a physical exam, during the term of the Executive’s employment, the Company shall pay the reasonable premiums for a term life insurance policy on the Executive, with the Executive having the right to name the beneficiary(ies) thereof. Such term life insurance policy shall be for an amount that is at least two (2) times the Executive’s initial Base Salary. The Executive shall be eligible to participate in all employee benefit plans and programs of the Company, including health and retirement plans, that may be in effect from time to time for senior executives generally. Consistent with the foregoing, the Company shall have the right to modify, amend, add or eliminate any of these benefits and programs (other than the term life insurance described above) in its sole discretion, subject to applicable law and the documents governing such programs.
Life Insurance and Other Benefits. 1. The County shall make available a life insurance program through Anthem Life or a similar program through another carrier. The life insurance program shall be governed by the terms of the policy and the insurance carrier’s requirements. Anthem Life: Insurance is available to all employees working at least twenty four (24) hours per week, effective the first of the month following three (3) full months of employment or eligibility. For employees consistently working at least twenty four (24) hours per week but less than thirty five (35) hours per week, the employees pay 100% of the premium. For employees consistently working thirty five (35) or more hours per week, the County pays $.60 per week for the Basic Plan I ($10,000 term life insurance), and the employee pays the balance for Basic Plan 1 and for any additional costs for added coverage. Enrollments are done quarterly by a representative of the agency. Premiums are paid via payroll deductions and the premium cost varies depending on the plan(s) selected. This life insurance can be converted to private pay upon an employee’s retirement, provided this option is available through the vendor. Additional amounts of insurance, including extra term life, accidental death and dismemberment, whole life and disability insurance, may be purchased by the employee at his/her own expense. Premiums are paid via payroll deduction and the costs vary depending on the amount of insurance purchased. Coverage is guaranteed, regardless of health status, within the employee’s first ninety (90) days of eligibility. After ninety (90) days, coverage is subject to underwriting. Upon termination of employment, the covered employee may opt to convert to a non-group policy and continue premium payments by being directly billed by the insurance agency. * Any employee who currently has Transamerica Life Insurance, which is no longer offered to new employees, will be able to continue purchasing this insurance at their own expense.
Life Insurance and Other Benefits. A. Each member will have a sum of money equal to 2.25% of their previous year’s annual salary available to purchase benefits. These benefits must include group term life insurance equal to one and one half (1 ½) times the member’s annual salary as of July 1 of the previous year.
Life Insurance and Other Benefits. (a) Lesco shall provide to Executive and his spouse and dependents the split-dollar life and health insurance coverage described on Annex A to this Employment Agreement.
Life Insurance and Other Benefits. (a) Employees shall use all reasonable efforts to obtain within ninety (90) business days from the date of this Employment Agreement, and thereafter maintain in full force and effect during the term of this Employment Agreement, a policy of life insurance insuring Employee's life, with the net amount of such life insurance payable at death to the beneficiary or beneficiaries designated by Employee being in the amount of not less than Five Million Dollars ($5,000,000).
Life Insurance and Other Benefits. (a) The Company shall provide to Executive and his spouse and dependents the life, health and dental insurance coverage described on Annex A to this Agreement. (b) The Company shall provide Executive with a monthly automobile allowance which shall not be less than the monthly automobile allowance for Executive in effect on the date hereof, adjusted annually to reflect inflation as measured by changes in the Consumer Price Index or other comparable index.
Life Insurance and Other Benefits. The Company, at its sole cost and expense, shall during the term of this Agreement annually pay all of the premiums on Employee's $250,000 face value whole life insurance policy with Connecticut Mutual (Policy Number 6061155). Employee shall pay taxes on the portion of these premiums which are reported on Employee's Form W-2. Employee shall be the owner of said life insurance policy. Employee shall not reimburse the Company for any of said premiums which the Company has prepaid prior to the termination of Employee's employment hereunder. Employee, within his sole discretion, may designate the beneficiary or beneficiaries for said policy. The Company shall also be responsible to make life insurance premium payments as required to maintain the current life insurance policy in full force and effect, which payments are currently $2410.00 per year, on behalf of Employee, pursuant to the terms of the existing split dollar agreement between Employee and World Wide Technology, Inc. Should additional insurance be requested by Employee, the payment of additional premiums by the Company must be approved by the Board of Managers. For so long as he is employed by the Company, the Company will pay for Employee's personal vehicle, which Employee can replace every three (3) years. The payments on the current vehicle are $566.01 per month (expiring in March of 2000). Employee shall also receive all other standard employee benefits made available to senior executives of the company.
Life Insurance and Other Benefits. A. Each member will have a sum equal to two percent (2%) of their previous year’s annual salary available for non-taxable benefits. This amount must be designated by the employee to be deferred into either the District’s Section 125 plan or a District-approved 403(b) plan. The amount deferred to the Section 125 plan may be used for uninsured medical expenses (including the employee’s contribution to premiums), group term life insurance with a benefit of up to $50,000, District- approved disability insurance or child care expenses up to $5,000.
Life Insurance and Other Benefits
