Common use of Life Insurance Policies Clause in Contracts

Life Insurance Policies. Employer shall repay any policy loans previously taken on the Employer's insurance policies on Executive's life (provided that the directors of Employer were given written notice promptly after the making of any such loans which were made while Executive was the president and chief executive officer of Employer), and then shall transfer to Executive any and all of its right, title, and interest in and to all Employer life insurance policies on Executive's life (and upon that transfer, Executive shall be deemed to have released Employer from any and all obligations it then owes to him to maintain and pay premiums on those policies, all other provisions of any agreements under which those policies were agreed to be maintained, however, to remain in effect). Upon termination of employment, all split dollar policies in effect on the Executive's life will terminate. The Executive shall have the right, under the terms of the split dollar agreement, to purchase the policies by paying to the Corporation an amount as defined in Article 7.1 of the Split Dollar Agreement.

Life Insurance Policies. Employer shall repay any policy loans previously taken on the Employer's ’s insurance policies on Executive's ’s life (provided that the directors of Employer were given written notice promptly after the making of any such loans which were made while Executive was the president and chief executive officer of Employer), and then shall transfer to Executive any and all of its right, title, and interest in and to all Employer life insurance policies on Executive's ’s life (and upon that transfer, Executive shall be deemed to have released Employer from any and all obligations it then owes to him to maintain and pay premiums on those policies, all other provisions of any agreements under which those policies were agreed to be maintained, however, to remain in effect). Upon termination of employment, all split dollar policies in effect on the Executive's ’s life will terminate. The Executive shall have the right, under the terms of the split dollar agreement, to purchase the policies by paying to the Corporation an amount as defined in Article 7.1 of the Split Dollar Agreement.

Life Insurance Policies. Employer shall repay any policy loans previously taken on the Employer's insurance policies on Executive's life (provided that the directors of Employer were given written notice promptly after the making of any such loans which were made while Executive was the president and chief executive administrative officer of Employer), and then shall transfer to Executive any and all of its right, title, and interest in and to all Employer life insurance policies on Executive's life (and upon that transfer, Executive shall be deemed to have released Employer from any and all obligations it then owes to him to maintain and pay premiums on those policies, all other provisions of any agreements under which those policies were agreed to be maintained, however, to remain in effect). Upon termination of employment, all split dollar policies in effect on the Executive's life will terminate. The Executive shall have the right, under the terms of the split dollar agreement, to purchase the policies by paying to the Corporation an amount as defined in Article 7.1 of the Split Dollar Agreement.

Life Insurance Policies. Employer shall repay any policy loans previously taken on the Employer's insurance policies on Executive's life (provided that the directors of Employer were given written notice promptly after the making of any such loans which were made while Executive was the president and chief executive officer of Employer), and then shall transfer to Executive any and all of its right, title, and interest in and to all Employer life insurance policies on Executive's life (and upon that transfer, Executive shall be deemed to have released Employer from any and all obligations it then owes to him to maintain and pay premiums on those policies, all other provisions of any agreements under which those policies were agreed to be maintained, however, to remain in effect). [Upon termination of employment, all split dollar policies in effect on the Executive's life will terminate. The Executive shall have the right, under the terms of the split dollar agreement, to purchase the policies by paying to the Corporation an amount as defined in Article 7.1 of the Split Dollar Agreement.]

Life Insurance Policies. Employer shall repay any policy loans previously taken on the Employer's insurance policies on Executive's life (provided that the directors of Employer were given written notice promptly after the making of any such loans which were made while Executive was the president and chief executive officer of Employer), and then shall transfer to Executive any and all of its right, title, and interest in and to all Employer life insurance policies on Executive's life (and upon that transfer, Executive shall be deemed to have released Employer from any and all obligations it then owes to him to maintain and pay premiums on those policies, all other provisions of any 6 agreements under which those policies were agreed to be maintained, however, to remain in effect). Upon termination of employment, all split dollar policies in effect on the Executive's life will terminate. The Executive shall have the right, under the terms of the split dollar agreement, to purchase the policies by paying to the Corporation an amount as defined in Article 7.1 of the Split Dollar Agreement.