Roger S. Penske shall be serving as the Chief Executive Officer of xxx Xxxxany as of and since the consummation of the Initial Closing and as of the Second Closing.
Roger S. Aaron Skadden, Arps, Slate, Meagher & Fxxx XXX 000 Xxxxx Xxxxue Xew Xxxx, New York 10022 Xxxxxxxxx Xx.: (000) 000-0000 xx xxxx xxxxx xxdress or facsimile number as such xxxxx xxx xxxxafter specify for the purpose by notice to the other parties hereto. Each such notice, request or other communication shall be effective (a) if given by facsimile, when such facsimile is transmitted to the facsimile number specified in this Section and the appropriate facsimile confirmation is received or (b) if given by any other means, when delivered at the address specified in this Section.
Roger S. Marcus, an individuxx xxxxxxxx xx the Commonwealth of Pennsylvania (the "Employee"), is employed by the Corporation as its Chief Executive Officer. The Employee desires that his family be provided life insurance protection under a policy of life insurance insuring the Employee's life, described in Exhibit A attached hereto and by this reference made a part hereof (the "Policy"), which has been issued by Massachusetts Mutual Life Insurance Company (the "Insurer"). The Trust is the owner of the Policy and, as such, possesses all incidents of ownership in and to the Policy, including without limitation the right to designate the Policy beneficiary. The Corporation is willing to pay a portion of the premiums due on the Policy as an additional employment benefit for the Employee, on the terms and conditions hereinafter set forth. The Corporation desires to have the Policy collaterally assigned to it by the Trust in order to secure the repayment of the amounts which it will pay toward the premiums on the Policy. In consideration of the premises and of the mutual promises contained herein, the parties hereto agree as follows:
