Life Insurance Programs Sample Clauses

Life Insurance Programs. (a) COMPANY PAID LIFE INSURANCE COVERAGE. Transferred Employees as of the Transition Date shall be eligible for coverage through the Ford-UAW Group Life Insurance Program effective as of the Insurance Conversion Date. Transferred Employees shall be required to execute a new beneficiary designation form, as required by Ford's plan administrator. In the event of a death prior to receipt of a new beneficiary designation form, Ford shall use the last beneficiary form of record under the Visteon-UAW Group Life Insurance Program. Visteon shall continue coverage for Transferred Employees under the Visteon-UAW Group Life Insurance Program until the Insurance Conversion Date. (b) EMPLOYEE PAID OPTIONAL LIFE INSURANCE COVERAGE, DEPENDENT GROUP LIFE INSURANCE AND OPTIONAL ACCIDENT INSURANCE. Payroll deduction of premiums for optional life insurance coverage, dependent group life insurance coverage and optional accident insurance coverage under the Visteon employee paid optional insurance programs shall cease the day prior to the Insurance Conversion Date. Transferred Employees shall have current Visteon coverage amounts continued under the Ford optional life insurance program, the dependent group life insurance program and the optional accident insurance program with coverage to be effective on the Insurance Conversion Date. Transferred Employees shall be required to execute a new beneficiary designation form, as required by Ford's plan administrator, in the case of optional life coverage. In the event of a death prior to receipt of a new beneficiary designation form, Ford shall use the last beneficiary form of record under the Visteon employee paid optional life insurance program.

Life Insurance Programs. (a) AT&T SENIOR MANAGEMENT UNIVERSAL LIFE INSURANCE PROGRAM. The life insurance amount under the SMULIP shall be frozen (the "frozen SMULIP coverage") as of the Close of the Disposition Date for any Transferred Individual who is a SMULIP participant as of the Close of the Disposition Date and who either (i) is then eligible to participate in the Retirement-Related Benefit Plans; or (ii) may be eligible to participate in the Retirement-Related Benefit Plans pursuant to the provisions of Section 4.6. AT&T shall allow such Transferred Individual to continue to participate in the SMULIP until the earlier of (1) the Transferred Individual's attainment of his or her "normal termination date" under the terms of the SMULIP as such terms exist on the date of this Agreement; or (2) the Transferred Individual's termination of employment from Wireless Services and all Wireless Services Entities before becoming eligible to participate in the Retirement-Related Benefit Plans pursuant to the provisions of Section 4.

Life Insurance Programs. On the Distribution Date, Ralcorp shall relinquish all rights under any Split Dollar Second-To-Die Life Insurance policies currently insuring the lives of any New Ralcorp Employee and his or her spouse, including but not limited to rights to any portion of the cash value or death benefits under such policies, created in accordance with the terms of the Split Dollar Agreement and Collateral Assignment between Ralcorp and such employee regarding such policies, and will take all reasonable steps necessary to assign such rights to New Ralcorp. Prior to the Distribution Date, Ralcorp shall perform any and all obligations required of it under the terms of such Split Dollar Agreement and Collateral Assignment with respect to such policies. 8.7

Life Insurance Programs. (a) AT&T Senior Management Universal Life Insurance Program. As of the Close of the Distribution Date, AT&T shall retain all Liabilities relating to the AT&T Senior Management Universal Life Insurance Program. The life insurance amount under the SMULIP shall be frozen (the "frozen SMULIP coverage") as of the Close of the Distribution Date for any Broadband Transferee who is a SMULIP participant as of the Close of the Distribution Date and who either (i) is then eligible to participate in the AT&T Post-Retirement Welfare Benefits Plan or (ii) may be eligible to participate in the AT&T Post-Retirement Welfare Benefits Plan pursuant to the provisions of Section 4.6. AT&T shall allow such Broadband Transferee to continue to participate in the SMULIP until the Broadband Transferee's attainment of his or her "normal termination date" under the terms of the SMULIP as such terms exist on the date of this Agreement. During the Broadband Transferee's participation in the SMULIP after the Distribution Date, AT&T shall pay the premiums determined to be due under the applicable life insurance policy (and any tax adjustment payments, determined in accordance with the terms of the SMULIP as they exist on the date of this Agreement) to provide the frozen SMULIP coverage amount. The participation of each other Broadband Transferee who participates in the SMULIP shall terminate as of the Close of the Distribution Date, the life insurance policy covering the life of such Broadband Transferee under the SMULIP may be allowed to lapse, surrendered for its cash surrender value, or continued with premium payments being made from the Broadband Transferee's (or his or her assignee's) personal assets and, after the Close of the Distribution Date, none of AT&T, AT&T Broadband, the Broadband Entities and the Communications Services Entities shall have any further obligation with respect thereto. (b) AT&T Executive Basic Life Insurance Program. As of the Close of the Distribution Date, AT&T shall retain all Liabilities relating to the AT&T Executive Basic Life Insurance Program. The life insurance amount under the EBLIP shall be frozen (the "frozen EBLIP coverage") as of the Close of the Distribution Date for any Broadband Transferee who is an EBLIP participant as of the Close of the Distribution Date and who either (i) is then eligible to participate in the AT&T Post-Retirement Welfare Benefits Plan; or (ii) may be eligible to participate in the AT&T Post-Retirement Welfare Benefits P...

Life Insurance Programs