Policy Split Option Riders Sample Clauses

Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy. Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised within 365 days following an Exchange Event, as defined in the rider policy form. The face amount of each new policy will be an amount up to one-half of the policy’s current eligible coverage. For the Enhanced Policy Split Option Riders described above, the premium on the new policy will be determined as outlined in paragraph D above for contractual exchanges.
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Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy.
Sample 1Sample 2
Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Article XI
Sample 1

Related to Policy Split Option Riders

  • Share Option Plans Each share option granted by the Company under the Company’s share option plan was granted (i) in accordance with the terms of the Company’s share option plan and (ii) with an exercise price at least equal to the fair market value of the Ordinary Shares on the date such share option would be considered granted under GAAP and applicable law. No share option granted under the Company’s share option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, share options prior to, or otherwise knowingly coordinate the grant of share options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Agreement Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the Optionee’s other compensation.

  • Stock Option Agreements The Corporation has entered into Stock Option Agreements with the following individuals: Option Number Name # Options Grant Date Options Canceled Options Outstanding 04-051 Xx, Xxx 10,000 5/4/2004 — 03-002 Xxxx, Xxx 325,000 12/16/2003 203,125 — 03-003 Xxxxxxxxx, Xxxx 650,000 12/16/2003 192,969 — 00-000 Xxxxxxxxxx, Xxxx 162,500 12/16/2003 162,500 04-003 X’Xxxxx, Xxxxxxx 8,000 2/5/2004 8,000 00-000 Xxxxxxxx, Xxxxxxxxx 30,000 2/5/2004 30,000 00-000 Xxxxxxxxx, Xxxxxxx 1,108,812 11/14/2003 — 00-000 Xxxxxxxxxx, Xxxxxxx 370,241 11/14/2003 — 03-007 Xxxxx, Xxxx Xxxxxx 304,374 11/14/2003 — 00-000 Xxxxxxxxxxxxxxxx, Xxxx 606,573 11/14/2003 — 03-004 Pitzele, Barnett 5,000 12/16/2003 1,000 — 04-001 Xxxxxxx, Xxxxxxxx 17,000 2/4/2004 17,000 00-000 Xxxxx, Xxxxxx 28,000 2/4/2004 25,725 04-004 Xxxxxxxxx, Xxxxxx 17,000 2/4/2004 17,000 04-072 Xxxxx, Xxxxx 10,000 8/12/2004 10,000 00-000 Xxxxxxxxx, Xxxxx 24,000 5/4/2004 24,000 04-071 Xxxxxxxx, Xxxxx 1,000 8/12/2004 — 04-103 Xxxxxx, Xxxxxxx 1,625,000 10/28/2004 1,625,000 04-101 Xxx, Xxxxxx 8,000 10/28/2004 8,000 — 04-102 XxXxxxxx, Xxxxx 8,000 10/28/2004 2,000 — 04-100 Xxxxxxx, Xxxxxxx 15,000 12/28/2004 15,000 — 05-01 Xxxxx, Xxxxx 10,000 12/6/2005 10,000 00-00 Xxxxxxxxxx, Xxxx 81,250 2/15/2006 81,250 06-04 Xxx, Xxxxxx 8,000 2/15/2006 8,000 — 06-05 XxXxxxxx, Xxxxx 8,000 2/15/2006 4,000 — 06-06 Xxxxxxx, Xxxxxxx 15,000 2/15/2006 15,000 — 06-01 Xx, Xxx 10,000 2/15/2006 7,500 — 06-03 Xxxxxxxx, Xxxxx 3,000 2/15/2006 2,469 — 06-07 X’Xxx, Xxxxx 570,000 2/15/2006 339,625 07-01 XxXxxxxx, Xxxxx 27,000 7/12/2007 23,625 — 07-08 Xxxxxx, Xxxxxxx 2,377,688 7/12/2007 2,377,688 07-07 X’Xxx, Xxxxx 830,941 7/12/2007 623,206 07-09 Xxxxxx, X. Xxxxxxxx 1,250,840 7/12/2007 1,250,840 00-00 Xxxxxxxxxx, Xxxx 356,653 7/12/2007 356,653 07-10 Xxxxxx, Xxxxx 500,336 7/12/2007 — 00-00 Xxxxxxxxxxxxxxxx, Xxxx 100,000 7/12/2007 100,000 07-12 Xxxxx, Xxxx Xxxxxx 540,790 7/12/2007 540,790 07-13 Xxxxxxxxxx, Xxxxxxx 660,491 7/12/2007 412,805 07-02 Xxxxxxx, Xxxxxxx 44,000 7/12/2007 8,250 — 07-03 Xxxxxxxxx, Xxxxx 16,000 7/12/2007 16,000 07-05 Xxxxxxxx, Xxxx 3,000 7/12/2007 3,000 10 07-04 Xxxxxxxxx, Xxxxxxxx 100,000 7/12/2007 62,500 07-14 Xxxxxxxx, Xxxxx 137,500 12/6/2007 137,500 00-00 Xxxxxxxxx, Xxxxxxx 8,000 12/6/2007 8,000 — 07-16 Xxxxxxx, Xxxxx 8,000 12/6/2007 8,000 — 08-01 Xxxxx, Xxxxx 60,000 2/7/2008 60,000 08-09 Xxxxxx, Xxxxxxx 3,040,081 5/8/2008 3,040,081 08-05 X’Xxx, Xxxxx 1,064,028 5/8/2008 1,064,028 08-06 Xxxxxx, X. Xxxxxxxx 950,025 5/8/2008 950,025 00-00 Xxxxxxxxxx, Xxxx 456,012 5/8/2008 456,012 08-07 Xxxxxx, Xxxxx 380,010 5/8/2008 23,751 356,259 08-02 XxXxxxxx, Xxxxxx X. 30,000 5/8/2008 30,000 08-03 Xxxxxxxxxx, Xxxx 10,000 5/8/2008 10,000 — 08-04 Xxxxxxxxx, Xxxx 10,000 5/8/2008 10,000 — 08-14 Xxxxxx, Xxxxxxx 1,295,640 12/3/2008 1,295,640 08-10 X’Xxx, Xxxxx 453,474 12/3/2008 453,474 08-11 Xxxxxx, X. Xxxxxxxx 404,888 12/3/2008 404,888 00-00 Xxxxxxxxxx, Xxxx 194,346 12/3/2008 194,346 08-12 Xxxxxx, Xxxxx 161,955 12/3/2008 60,734 101,221 08-26 Xxxxx, Xxxx Xxxxxx 167,891 12/3/2008 167,891 08-25 Xxxxxxxxxx, Xxxxxxx 204,715 12/3/2008 204,715 08-16 Xxxxxxxx, Xxxxx 82,500 12/3/2008 82,500 08-15 Xxxxxxxxx, Xxxxxxxx 120,000 12/3/2008 120,000 08-17 Xxxxxxx, Xxxxxxx 50,000 12/3/2008 50,000 — 08-18 Xxxxx, Xxxxx 36,000 12/3/2008 36,000 08-19 Xxxxxxxxx, Xxxx 24,000 12/3/2008 24,000 08-20 XxXxxxxx, Xxxxxx X. 18,000 12/3/2008 18,000 08-21 Xxxxxxxxx, Xxxx 6,000 12/3/2008 6,000 — 08-22 Xxxxxxxxxx, Xxxx 6,000 12/3/2008 6,000 — 08-23 Xxxxxxx, Xxxxx 4,800 12/3/2008 4,800 — 08-24 Xxxxxxxx, Xxxx 3,000 12/3/2008 3,000 09-01 Xxxxxxxx, Xxxxx 25,000 4/9/2009 25,000 00-00 XxXxx, Xxxxxxxx 45,000 4/9/2009 45,000 — 09-03 Xxxxxxxx, Xxxxxxxxx 75,000 4/9/2009 75,000 09-04 Xxxxxxxx, Xxxxxxxxx 75,000 12/2/2009 75,000 10-01 Xxxxxxxx, Xxxx 2,084,602 10/12/2010 2,084,602 10-02 Xxxxxxxx, Xxxx 1,765,398 10/12/2010 1,765,398 10-03 Xxxxxxxx, Xxxxxxxxx 25,000 11/30/2010 25,000 Option Number Name # Options Grant Date Options Canceled Options Outstanding 04-051 Xx, Xxx 10,000 5/4/2004 — 03-002 Xxxx, Xxx 325,000 12/16/2003 203,125 — 03-003 Xxxxxxxxx, Xxxx 650,000 12/16/2003 192,969 — 00-000 Xxxxxxxxxx, Xxxx 162,500 12/16/2003 162,500 00-000 Xxxxxxxxx, Xxxxxxx 1,108,812 11/14/2003 — 00-000 Xxxxxxxxxx, Xxxxxxx 370,241 11/14/2003 — 03-007 Xxxxx, Xxxx Xxxxxx 304,374 11/14/2003 — 00-000 Xxxxxxxxxxxxxxxx, Xxxx 606,573 11/14/2003 — 03-004 Pitzele, Barnett 5,000 12/16/2003 1,000 — 04-072 Xxxxx, Xxxxx 10,000 8/12/2004 10,000 00-000 Xxxxxxxxx, Xxxxx 24,000 5/4/2004 24,000 04-071 Xxxxxxxx, Xxxxx 1,000 8/12/2004 — 04-103 Xxxxxx, Xxxxxxx 1,625,000 10/28/2004 1,625,000 04-101 Xxx, Xxxxxx 8,000 10/28/2004 8,000 — 04-102 XxXxxxxx, Xxxxx 8,000 10/28/2004 2,000 — 04-100 Xxxxxxx, Xxxxxxx 15,000 12/28/2004 15,000 — 05-01 Xxxxx, Xxxxx 10,000 12/6/2005 10,000 00-00 Xxxxxxxxxx, Xxxx 81,250 2/15/2006 81,250 06-04 Xxx, Xxxxxx 8,000 2/15/2006 8,000 — 06-05 XxXxxxxx, Xxxxx 8,000 2/15/2006 4,000 — 06-06 Xxxxxxx, Xxxxxxx 15,000 2/15/2006 15,000 — 06-01 Xx, Xxx 10,000 2/15/2006 7,500 — 06-03 Xxxxxxxx, Xxxxx 3,000 2/15/2006 2,469 — 06-07 X’Xxx, Xxxxx 570,000 2/15/2006 339,625 07-01 XxXxxxxx, Xxxxx 27,000 7/12/2007 23,625 — 07-08 Xxxxxx, Xxxxxxx 2,377,688 7/12/2007 2,377,688 07-07 X’Xxx, Xxxxx 830,941 7/12/2007 623,206 07-09 Xxxxxx, X. Xxxxxxxx 1,250,840 7/12/2007 1,250,840 00-00 Xxxxxxxxxx, Xxxx 356,653 7/12/2007 356,653 00-00 Xxxxxxxxxxxxxxxx, Xxxx 100,000 7/12/2007 100,000 07-12 Xxxxx, Xxxx Xxxxxx 540,790 7/12/2007 540,790 07-13 Xxxxxxxxxx, Xxxxxxx 660,491 7/12/2007 412,805 07-02 Xxxxxxx, Xxxxxxx 44,000 7/12/2007 8,250 — 07-03 Xxxxxxxxx, Xxxxx 16,000 7/12/2007 16,000 07-05 Xxxxxxxx, Xxxx 3,000 7/12/2007 3,000 07-04 Xxxxxxxxx, Xxxxxxxx 100,000 7/12/2007 62,500 07-14 Xxxxxxxx, Xxxxx 137,500 12/6/2007 137,500 00-00 Xxxxxxxxx, Xxxxxxx 8,000 12/6/2007 8,000 — 07-16 Xxxxxxx, Xxxxx 8,000 12/6/2007 8,000 — 08-01 Xxxxx, Xxxxx 60,000 2/7/2008 60,000 08-09 Xxxxxx, Xxxxxxx 3,040,081 5/8/2008 3,040,081 08-05 X’Xxx, Xxxxx 1,064,028 5/8/2008 1,064,028 08-06 Xxxxxx, X. Xxxxxxxx 950,025 5/8/2008 950,025 00-00 Xxxxxxxxxx, Xxxx 456,012 5/8/2008 456,012 08-02 XxXxxxxx, Xxxxxx X. 30,000 5/8/2008 30,000 12 08-03 Xxxxxxxxxx, Xxxx 10,000 5/8/2008 10,000 — 08-04 Xxxxxxxxx, Xxxx 10,000 5/8/2008 10,000 — 08-14 Xxxxxx, Xxxxxxx 1,295,640 12/3/2008 1,295,640 08-10 X’Xxx, Xxxxx 453,474 12/3/2008 453,474 08-11 Xxxxxx, X. Xxxxxxxx 404,888 12/3/2008 404,888 00-00 Xxxxxxxxxx, Xxxx 194,346 12/3/2008 194,346 08-26 Xxxxx, Xxxx Xxxxxx 167,891 12/3/2008 167,891 08-25 Xxxxxxxxxx, Xxxxxxx 204,715 12/3/2008 204,715 08-16 Xxxxxxxx, Xxxxx 82,500 12/3/2008 82,500 08-15 Xxxxxxxxx, Xxxxxxxx 120,000 12/3/2008 120,000 08-17 Xxxxxxx, Xxxxxxx 50,000 12/3/2008 50,000 — 08-18 Xxxxx, Xxxxx 36,000 12/3/2008 36,000 08-19 Xxxxxxxxx, Xxxx 24,000 12/3/2008 24,000 08-20 XxXxxxxx, Xxxxxx X. 18,000 12/3/2008 18,000 08-21 Xxxxxxxxx, Xxxx 6,000 12/3/2008 6,000 — 08-22 Xxxxxxxxxx, Xxxx 6,000 12/3/2008 6,000 — 08-23 Xxxxxxx, Xxxxx 4,800 12/3/2008 4,800 — 08-24 Xxxxxxxx, Xxxx 3,000 12/3/2008 3,000 09-01 Xxxxxxxx, Xxxxx 25,000 4/9/2009 25,000 00-00 XxXxx, Xxxxxxxx 45,000 4/9/2009 45,000 — 09-03 Xxxxxxxx, Xxxxxxxxx 75,000 4/9/2009 75,000 09-04 Xxxxxxxx, Xxxxxxxxx 75,000 12/2/2009 75,000 10-01 Xxxxxxxx, Xxxx 2,084,602 10/12/2010 2,084,602 10-02 Xxxxxxxx, Xxxx 1,765,398 10/12/2010 1,765,398 10-03 Xxxxxxxx, Xxxxxxxxx 25,000 11/30/2010 25,000

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Initial Equity Award Upon or as soon as practicable after the Effective Date, the Company will award Executive restricted stock units and stock options to purchase shares of the Company’s common stock, with an aggregate grant date fair market value as determined by the Board for accounting purposes of $1,200,000. Such restricted stock units or stock options, as applicable, to vest ratably over 4 years (25% each year). Allocation between restricted stock units and stock options to be determined by the Board.

  • Stock Option Plans, Etc Accelerate, amend or change the period of exercisability or vesting of options or other rights granted under its stock plans or authorize cash payments in exchange for any options or other rights granted under any of such plans;

  • Option Plans There is no share option plan or similar plan to acquire any additional shares or units or other equity interests, as the case may be, of IEM or securities convertible or exercisable into or exchangeable for, or which otherwise confer on the holder thereof any right to acquire, any such additional shares or units or equity interests, as the case may be.

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • Company Stock Option Plans Simultaneously with the execution of this Agreement, the Board of Directors of the Company (or, if appropriate, any committee administering the Company Stock Option Plans) shall adopt such resolutions or take such other actions as are required to effect the transactions contemplated by Section 2.10 in respect of all outstanding Options and thereafter the Board of Directors of the Company (or any such committee) shall adopt any such additional resolutions and take such additional actions as are required in furtherance of the foregoing.

  • Annual Equity Award With respect to each Company fiscal year commencing during the Term, the Executive shall be eligible to receive an annual equity compensation award (each such award, an “Annual Equity Award”). The form and terms and conditions of each Annual Equity Award shall be determined by the Board (or the Compensation Committee of the Board) in its discretion and shall be set forth in one or more written award agreements between the Company and the Executive.

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