Ownership of the Policy. (a) The Employee is the sole owner of the Policy, and may exercise all incidents of ownership with respect thereto without the Corporation's consent, subject only to the limited rights given the Corporation under the terms of the limited collateral assignment provided for herein.
Appears in 3 contracts
Samples: Split Dollar Life Insurance Agreement (Crowley Maritime Corp), Dollar Life Insurance Agreement (Crowley Maritime Corp), Split Dollar Life (Crowley Maritime Corp)
Ownership of the Policy. (a) The Employee Trustee is the sole owner of the Policy, and may exercise all incidents of ownership with respect thereto without the Corporation's consent, subject only to the limited rights given the Corporation under the terms of the limited collateral assignment provided for herein.
Appears in 1 contract
Samples: Split Dollar Life Agreement (Crowley Maritime Corp)
Ownership of the Policy. (a) The Employee is the sole owner of the Policy, retains all rights in the Policy and may exercise all incidents of ownership with respect thereto without the Corporation's consent, subject only to the limited rights given the Corporation under the terms of the limited collateral assignment provided for herein.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Crowley Maritime Corp)
