Life Insurance and Other Benefits Sample Clauses

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. (c) Executive shall be entitled to such periods of vacation and sick leave allowance each year determined by Executive in his reasonable and good faith discretion, which in any event shall be not less than as provided under the Company's vacation and sick leave policy for executive officers. (d) Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of the Company. Executive's participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan. (e) The Company shall provide Executive with tax and financial advisory and tax return preparation services at an annual cost to the Company not to exceed five thousand dollars ($5,000), adjusted annually to reflect inflation as measured by changes in the Consumer Price Index or other comparable index.
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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.
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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. 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. 2. The County shall make available a deferred compensation program through Nationwide or Great West or a similar program through another carrier. The deferred compensation program shall be governed by the program requirements of the provider and applicable law. Deferred compensation shall be solely by employee contribution. 3. TransAmerica – This is an optional plan available to all employees working at least twenty-four (24) hours per week. Offerings include accident, cancer, and disability insurance are available at the employee’s expense. Employees are eligible to apply after completing three (3) full months of employment or at the group re-enrollment in June of each year. Premiums are paid via payroll deductions and the premium cost varies depending on the plan(s) selected. * Any employee who currently has AFLAC Insurance or Colonial Life Insurance, which is no longer offered to new employees, will be able to continue purchasing this insurance at their own expense. 4. If the County or carrier/provider cancels or modifies the current life insurance, optional accident/cancer/hospitalization, or deferred comp...
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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. B. Members will have an opportunity to apply any excess monies to the following items: 1. district approved tax-deferred annuity 2. maintenance of universal life insurance coverage 3. district approved disability coverage C. Members may elect to participate in the District-sponsored program of Flexible Spending Account.
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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. B. Bargaining unit members may purchase additional group term life insurance through the District’s provider in accordance with the rules and regulations of the provider. Premium payments may be made through payroll deduction upon the unit member’s written notice to the District.
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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.
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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. (b) During the term of this Employment Agreement, Lesco shall reimburse Executive for the competitive cost of leasing (unless Lesco at its option elects to effect or hold the lease), operating, maintaining, repairing and insuring of an automobile comparable to that operated by Executive immediately prior to the date of this Employment Agreement. (c) Executive shall be entitled to periods of vacation and sick leave allowance each year not less than the greater of: (i) six (6) weeks and (ii) those provided under Lesco's vacation and sick leave policy from time to time for executive officers. (d) Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of Lesco. Executive's participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan. (e) Lesco shall, on Executive's behalf, bear the cost of initiation and membership fees and dues for a social membership at Westwood Country Club (greater Cleveland, Ohio), and the cost of membership fees and dues (but not initiation) for a continuing membership at Canterbury Country Club (greater Cleveland, Ohio), in all cases as incurred during the term of this Employment Agreement, and shall reimburse Executive the amount of any charges actually and reasonably incurred at such clubs in the conduct of Lesco's business, subject to the requirements of Paragraph 9. (f) Lesco shall reimburse Executive or provide him with an expense allowance during the term of this Employment Agreement of up to $10,000 per annum for financial planning and tax return and financial statement preparation services.
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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). (b) During the term of this Employment Agreement, Employee shall be entitled to such vacation privileges, medical reimbursement and hospitalization benefits, automobile and mobile telephone allowance and such other similar employment benefits as are afforded other company senior executives, from time to time. If not otherwise within such benefits, Employer will provide Employee with benefits, pursuant to a plan or otherwise, which pays, or reimburses Employee for, all out-of-pocket and other medical expenses of Employee and his dependents.
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Life Insurance and Other Benefits 
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Related to Life Insurance and Other Benefits

  • Insurance and Other Benefits During the Employment Period, the Executive and the Executive’s dependents shall be entitled to participate in the Company’s insurance programs and any ERISA benefit plans, as the same may be adopted and/or amended from time to time (the “Benefits”). The Executive shall be entitled to paid personal days on a basis consistent with the Company’s other senior executives, as determined by the Board. The Executive shall be bound by all of the policies and procedures established by the Company from time to time. However, in case any of those policies conflict with the terms of this Agreement, the terms of this Agreement shall control.

  • Compensation and Other Benefits Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder:

  • Vacation and Other Benefits Each Contract Year, Executive shall be entitled to four (4) weeks of paid vacation in accordance with Employer’s applicable policies and procedures for executive-level employees. Executive shall also be eligible to participate in and receive the fringe benefits generally made available to other executive-level employees of Employer in accordance with and to the extent that Executive is eligible under the general provisions of Employer’s fringe benefit plans or programs; provided, however, that Executive understands that these benefits may be increased, changed, eliminated or added from time to time during the Term as determined in Employer’s sole and absolute discretion.

  • Expense Reimbursement and Other Benefits (a) During the term of Executive’s employment hereunder, pursuant to Applica’s Travel and Expense Policy and upon the submission of proper substantiation by the Executive, including copies of all relevant invoices, receipts or other evidence reasonably requested by Applica, Applica shall reimburse the Executive for all reasonable expenses actually paid or incurred by the Executive in the course of and pursuant to the business of Applica or any Affiliates. (b) Executive shall participate in Applica’s Group Health and Hospitalization Plan, Group Life Insurance Plan, Group Disability Insurance Plan and all other insurances, or insurance plans (collectively, the “Welfare Benefits”), and executive benefits and bonuses covering Applica’s executive officers as are now or may in the future be in effect, subject to applicable eligibility requirements. Additionally, Applica shall provide the Executive with life insurance in an amount equal to five times his Base Salary. During the Term, Applica shall pay for (i) the Executive’s annual dues in a country club and (ii) tax preparation and financial planning for the Executive on an annual basis up to a maximum of 1% of his base salary. (c) During the Term, Applica shall provide Executive with a monthly automobile allowance of $975. (d) During the Term, the Executive will be entitled to four weeks’ paid vacation for each year. The Executive will also be entitled to the paid holidays and other paid leave set forth in Applica’s policies. Vacation days and holidays during any fiscal year that are not used by the Executive during such Fiscal Year may not be carried over and used in any subsequent Fiscal Year.

  • Executive Perquisites, Benefits and Other Compensation Executive shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below: (i) Payment of all premiums for coverage for Executive and his dependent family members under health, hospitalization, disability, dental, life and other insurance plans that the Company may have in effect from time to time, benefits provided to Executive under this clause (i) to be at least equal to such benefits provided to Metals executives. (ii) Reimbursement for all business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his services pursuant to this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format and manner consistent with the Company's expense reporting policy. (iii) The Company shall provide Executive with other executive perquisites as may be available to or deemed appropriate for Executive by the Board and participation in all other Company-wide employee benefits as are available from time to time.

  • Salary and Other Compensation As compensation for the services to be rendered by the Employee to the Company pursuant to this Agreement, the Employee shall be paid the following compensation and other benefits:

  • COMPENSATION AND OTHER FEES As compensation for the services provided by Xxxxxx xxxxxxxxx, the Company agrees to pay to Xxxxxx: (A) The fees set forth below with respect to the Placement: 1. A cash fee payable immediately upon the closing of the Placement and equal to 6% of the aggregate gross proceeds raised in the Placement. Additionally, a cash fee payable within 48 hours of (but only in the event of) the receipt by the Company within 12 months of the Closing Date of any proceeds from the exercise of the Warrants sold in the Placement that are solicited by the Placement Agent and otherwise in compliance with Financial Industry Regulatory Authority (“FINRA”) Rule 5110 equal to 5% of the aggregate cash exercise price received by the Company upon such exercise, if any (the “Warrant Solicitation Fee”), provided, however, the Warrant Solicitation Fee shall be reduced (before any reduction to the Xxxxxx Warrants described in the last sentence of Section A.2 below or any reduction to the expense reimbursement to Xxxxxx in Section B below) to the extent (and only to the extent) that Xxxxxx’x aggregate compensation for the Placement, as determined under FINRA Rule 5110, would otherwise exceed 8%. Such determination of the actual Warrant Solicitation Fee shall be made promptly following completion of the Placement and communicated in writing to the Company. 2. Such number of warrants (the “Xxxxxx Warrants”) to be issued to Xxxxxx or its designees at the Closing to purchase shares of Common Stock equal to 5% of the aggregate number of Shares sold in the Placement. The Xxxxxx Warrants shall have the same terms as the Warrants (if any) issued to the Purchasers in the Placement except that the exercise price shall be at least 125% of the public offering price per share, but in any event not less than the Warrant exercise price, and the expiration date shall be November 27, 2012. The Xxxxxx Warrants shall not have antidilution protections or be transferable for six months from the date of the Offering except as permitted by FINRA Rule 5110, and further, the number of Shares underlying the Xxxxxx Warrants shall be reduced if necessary to comply with FINRA rules or regulations. Such determination of the actual number of Shares underlying the Xxxxxx Warrants shall be made promptly following completion of the Placement and communicated in writing to the Company. (B) The Company also agrees to reimburse Xxxxxx’x expenses (with supporting invoices/receipts) up to a maximum of 0.8% of the aggregate gross proceeds raised in the placement, but in no event more than $30,000 and only in the event the Placement has been consummated. If payable, such reimbursement shall be paid immediately upon the closing of the Placement.

  • Payment of Taxes, Insurance and Other Charges With respect to each Mortgage Loan, the Master Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of fire and hazard insurance coverage and, as to those Mortgage Loans subject to a voluntary escrow agreement, shall obtain, from time to time, all bills for the payment of such charges (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Master Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage or Applicable Regulations. The Master Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor's faithful performance in the payment of same or the making of the Escrow Payments and shall make Servicing Advances from its own funds to effect such payments. To the extent that the Mortgage does not provide for Escrow Payments, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard to determine that any such payments are made by the Mortgagor at the time they first become due and shall ensure that the Mortgaged Property is not lost to a tax lien as a result of nonpayment and that such Mortgaged Property is not left uninsured.

  • Relation to Other Benefits Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Company or any of its Subsidiaries and shall not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or any of its Subsidiaries.

  • No Impact on Other Benefits The value of the Participant’s Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

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