Common use of Supplemental Life Insurance Clause in Contracts

Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. provide an overall benefit to the Executive equal to three and one-half times Base Salary without a benefit cap.

Appears in 4 contracts

Samples: Employment Agreement (Oneida Financial Corp), Employment Agreement (Oneida Financial Corp), Employment Agreement (Oneida Financial Corp)

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Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00250,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. to provide an overall benefit to the Executive equal to three and one-half times Base Salary without with a combined benefit capcap of $750,000.00.

Appears in 3 contracts

Samples: Employment Agreement (Oneida Financial Corp.), Employment Agreement (Oneida Financial Corp.), Employment Agreement (Oneida Financial Corp.)

Supplemental Life Insurance. The Company will provide the Executive Employee with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive Employee responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00250,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. to provide an overall benefit to the Executive Employee equal to three and one-half times Base Salary without with a combined benefit capcap of $750,000.00.

Appears in 2 contracts

Samples: Employment Agreement (Oneida Financial Corp.), Employment Agreement (Oneida Financial Corp.)

Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. to provide an overall benefit to the Executive equal to three and one-half times Base Salary without a benefit cap.

Appears in 2 contracts

Samples: Employment Agreement (Oneida Financial Corp), Employment Agreement (Oneida Financial Corp)

Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees with a stated death benefit of the Company$150,000.00, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. provide an overall of the Company that provides a death benefit to the Executive equal to three and one-half times Base Salary without base salary with a maximum benefit capof $300,000.00.

Appears in 2 contracts

Samples: Employment Agreement (Oneida Financial Corp), Employment Agreement (Oneida Financial Corp)

Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, , the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. to provide an overall benefit to the Executive equal to three and one-half times Base Salary without a benefit cap.

Appears in 2 contracts

Samples: Employment Agreement (Oneida Financial Corp), Employment Agreement (Oneida Financial Corp)

Supplemental Life Insurance. The Company will shall provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to Supplemental Life Insurance Policy which will replace the group term life insurance beyond $50,000 provided by the Company and will take into account the maximum coverage amounts allowed under the group term policy. This Supplemental Life Insurance will be provided in the form of a survivorship policy which will be funded on the basis of a split dollar endorsement method. The Company will meet its obligation to pay its portion of premiums and meet all employees to. provide an overall benefit other commitments to the Executive equal to three and one-half times Base Salary without a benefit capunder the policy.

Appears in 1 contract

Samples: Employment Agreement (Amsouth Bancorporation)

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Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a maximum death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00250,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. to provide an overall benefit to the Executive equal to three and one-half times Base Salary without with a combined benefit capcap of $1,500,000.00.

Appears in 1 contract

Samples: Employment Agreement (Oneida Financial Corp.)

Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees of the Company, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. to provide an overall benefit to the Executive equal to three and one-half times Base Salary without a benefit cap.

Appears in 1 contract

Samples: Employment Agreement (Oneida Financial Corp)

Supplemental Life Insurance. The Company will provide the Executive with additional term life insurance to supplement the group coverage provided to all employees with a stated death benefit of the Company$450,000.00, the cost of this policy to be paid by the Company with the Executive responsible for the personal income tax consequences of the additional benefit. The Company provides a group plan with a death benefit equal to three and one-half times Base Salary with a maximum benefit of $300,000.00. The additional term life insurance provided under this agreement is a supplement to the group term life insurance provided to all employees to. provide an overall of the Company that provides a death benefit to the Executive equal to three and one-half times Base Salary without base salary with a maximum benefit capof $300,000.00.

Appears in 1 contract

Samples: Employment Agreement (Oneida Financial Corp)

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