Common use of Life Insurance Policies Clause in Contracts

Life Insurance Policies. In connection with the Executive’s termination of employment, the life insurance and accidental death and dismemberment coverage provided by Xxxxxxx for the Executive and his or her eligible dependents will terminate as of the date specified in the applicable policy or contract unless the Executive elects to convert such coverage to an individual policy in accordance with the terms of such policy or contract; provided, however, that the Executive will be responsible for payment of any premiums on any such continued coverage elected. Upon the Executive’s termination of employment, Xxxxxxx shall not be obligated to continue the Executive's participation in the Xxxxxxx First Endorsement Split-Dollar Life Insurance Program or provide any alternative benefits to such program after termination of the Executive's employment, except as specifically provided pursuant to the terms of the program documents governing such program.

Life Insurance Policies. In connection with the Executive’s termination of employment, the life insurance and accidental death and dismemberment coverage provided by Xxxxxxx Simmons for the Executive and his or her eligible dependents will terminate as of the date specified in the applicable policy or contract unless the Executive elects to convert such coverage to an individual policy in accordance with the terms of such policy or contract; provided, however, that the Executive will be responsible for payment of any premiums on any such continued coverage elected. Upon the Executive’s termination of employment, Xxxxxxx Simmons shall not be obligated to continue the Executive's participation in the Xxxxxxx First Endorsement Split-Dollar Life Insurance Program or provide any alternative benefits to such program after termination of the Executive's employment, except as specifically provided pursuant to the terms of the program documents governing such program.

Life Insurance Policies. In connection with the Executive’s termination of employment, the life insurance and accidental death and dismemberment coverage provided by Xxxxxxx for the Executive and his or her eligible dependents will terminate as of the date specified in the applicable policy or contract unless the Executive elects to convert such coverage to an individual policy in accordance with the terms of such policy or contract; provided, however, that the Executive will be responsible for payment of any premiums on any such continued coverage elected. Upon the Executive’s termination of employment, Xxxxxxx shall not be obligated to continue the Executive's participation in the Xxxxxxx First Endorsement Split-Dollar Life Insurance Program or provide any alternative benefits to such program after termination of the Executive's employment, except as specifically provided pursuant to the terms of the program documents governing such program.

Life Insurance Policies. In connection with the Executive’s termination of employment, the life insurance and accidental death and dismemberment coverage provided by Xxxxxxx for the Executive and his or her eligible dependents will terminate as of the date specified in the applicable policy or contract unless the Executive elects to convert such coverage to an individual policy in accordance with the terms of such policy or contract; provided, however, that the Executive will be responsible for payment of any premiums on any such continued coverage elected. Upon the Executive’s termination of employment, Xxxxxxx shall not be obligated to continue the Executive's ’s participation in the Xxxxxxx First Endorsement Split-Dollar Life Insurance Program or provide any alternative benefits to such program after termination of the Executive's ’s employment, except as specifically provided pursuant to the terms of the program documents governing such program.