Split Dollar Insurance Policy. If Executive's employment with Action is terminated by Action other than for Cause or as a result of his death or Disability, or if during such period Executive terminates his employment with Action for Good Reason, then Action will continue to make premium payments for so long as Action is making payments to Executive under Section 4 hereof under any and all split dollar life insurance programs in effect on the life of the Executive as of the Effective Date, after which the Executive will be entitled to ownership of the policy and Action will be entitled to premium retrieval, all in accordance with the terms of the program, but only to the extent of the cash value of the policy, and without recourse to the Executive for the balance of any such premium retrieval.
Split Dollar Insurance Policy. If Executive's employment with Furniture Brands is terminated by Furniture Brands other than for Cause or as a result of his death or Disability, or if during such period Executive terminates his employment with Furniture Brands for Good Reason, then Furniture Brands will continue to make premium payments for so long as Furniture Brands is making payments to Executive under Section 4 hereof under any and all split dollar life insurance programs in effect on the life of the Executive as of the Effective Date, after which the Executive will be entitled to ownership of the policy and Furniture Brands will be entitled to premium retrieval, all in accordance with the terms of the program, but only to the extent of the cash value of the policy, and without recourse to the Executive for the balance of any such premium retrieval.
Split Dollar Insurance Policy. If at any time, including as a result of the Sarbanes-Oxley Act of 2002, the Company is not permitted to make prexxxx xxxxxxxx pursuant to the split-dollar insurance policy arrangement contemplated in any provision of this Agreement, then such provision (but only insofar as it pertains to the split-dollar insurance policy) shall be ineffective and unenforceable, provided, however, that if the Company provides to any other officer a program or arrangement that is intended to be a replacement or substitute for the split-dollar insurance policy arrangements in effect at the beginning of 2002 (a "Substitute Arrangement"), then the Substitute Arrangement shall also be provided to Executive and references herein to a split-dollar insurance policy (including requirements to maintain such policy following termination of employment under certain circumstances) shall be read as references to the Substitute Arrangement.
Split Dollar Insurance Policy. If Executive's employment with Thomasville is terminated by Thomasville other than for Cause or as a result of his death or Disability, or if during such period Executive terminates his employment with Thomasville for Good Reason, then Thomasville will continue to make premium payments for so long as Thomasville is making payments to Executive under Section 4 hereof under any and all split dollar life insurance programs in effect on the life of the Executive as of the Effective Date, after which the Executive will be entitled to ownership of the policy and Thomasville will be entitled to premium retrieval, all in accordance with the terms of the program, but only to the extent of the cash value of the policy, and without recourse to the Executive for the balance of any such premium retrieval.
Split Dollar Insurance Policy. The Company has established and will maintain a split dollar life insurance arrangement in the aggregate face amount of $3,000,000 under a program reasonably selected by the Employee (the "Split Dollar Program"). The Company hereby agrees to pay $750,000 into said Split Dollar Program at the time of execution hereof.
Split Dollar Insurance Policy. If Furniture Brands terminates Xxxxxxxx'x employment before the end of the Employment Period, other than for Cause or as a result of his death or Disability, or if Xxxxxxxx terminates his employment with Furniture Brands for Good Reason, then Furniture Brands will continue to make premium payments until the end of the Employment Period under any split dollar life insurance programs in effect on Xxxxxxxx'x life as of the date of such termination, after which Xxxxxxxx will be entitled to ownership of the policy or policies and Furniture Brands will be entitled to premium retrieval, all in accordance with the terms of the program, but only to the extent of the cash value of the policy or policies, and without recourse to Xxxxxxxx for the balance of any premium retrieval.
Split Dollar Insurance Policy. If Broyhill terminates Xxxxxxxx'x employment other than for Cause or as a result of his death or Disability, or if Xxxxxxxx terminates his employment with Broyhill for Good Reason, then Broyhill will continue to make premium payments for so long as Broyhill is making payments to Xxxxxxxx under Section 4 hereof under any and all split dollar life insurance programs in effect on Xxxxxxxx'x life as of the Effective Date, after which Xxxxxxxx will be entitled to ownership of the policy and Broyhill will be entitled to premium retrieval, all in accordance with the terms of the program, but only to the extent of the cash value of the policy, and without recourse to Xxxxxxxx for the balance of any such premium retrieval.
Split Dollar Insurance Policy. If Executive's employment with Lane is terminated by Lane other than for Cause or as a result of his death or Disability, or if during such period Executive terminates his employment with Lane for Good Reason, then Lane will continue to make premium payments for so long as Lane is making payments to Executive under Section 4 hereof under any and all split dollar life insurance programs in effect on the life of the Executive as of the Effective Date, after which the Executive will be entitled to ownership of the policy and Lane will be entitled to premium retrieval, all in accordance with the terms of the program, but only to the extent of the cash value of the policy, and without recourse to the Executive for the balance of any such premium retrieval.
Split Dollar Insurance Policy. The cash value or death benefits of ----------------------------- that certain split-dollar insurance policy number 35 57804 issued by The Guardian Life Insurance Company of America on the life of Xxxxx X. Xxxxxxxx are and shall continue to be held in the Deferred Compensation Plan of the Company maintained for the benefit of Xxxxx X. Xxxxxxxx.
Split Dollar Insurance Policy. If at any time, including as a result of the Xxxxxxxx-Xxxxx Act of 2002, the Company is not permitted to make premium payments pursuant to the split-dollar insurance policy arrangement contemplated in any provision of this Agreement, then such provision (but only insofar as it pertains to the split-dollar insurance policy) shall be ineffective and unenforceable, provided, however, that if the Company provides to any other officer a program or arrangement that is intended to be a replacement or substitute for the split-dollar insurance policy arrangements in effect as of the date of this Agreement (a "SUBSTITUTE ARRANGEMENT"), then the Substitute Arrangement shall also be provided to Executive and references herein to a split-dollar insurance policy (including requirements to maintain such policy following termination of employment under certain circumstances) shall be read as references to the Substitute Arrangement.
