Common use of Term Life Insurance Clause in Contracts

Term Life Insurance. In addition to any term life insurance provided to other senior executives of the Company, the Company shall purchase a term life insurance policy in the amount of $1,000,000 on the life of the Executive, commencing as soon as practicable following the Effective Date. Except as provided in Section 4 below, the policy shall remain in effect for the Employment Period. The obligation of the Company to purchase such policy shall be conditioned on Executive's successful completion of any required medical examination(s) such that the policy can be bought at standard rates. The Executive shall, in his sole discretion, name the beneficiaries of the policy.

Term Life Insurance. In addition to any term life insurance provided to other senior executives of the Company, the Company maintains and shall purchase continue to maintain a term life insurance policy in the amount of $1,000,000 on the life of the Executive, commencing as soon as practicable following the Effective Date. Except as provided in Section 4 below, the policy shall remain in effect for the Employment Period. The obligation of the Company to purchase such policy shall be conditioned on Executive's ’s successful completion of any required medical examination(s) such that the policy can be bought at standard rates. The Executive shall, in his sole discretion, name the beneficiaries of the policy.

Term Life Insurance. In addition to any term life insurance provided to other senior executives of the Company, the The Company shall purchase a term life insurance policy in the amount of $1,000,000 on insuring the life of the Executive, commencing as soon as practicable following the Effective Date. Except as provided in Section 4 below, the policy shall remain in effect for the Employment PeriodExecutive with a death benefit of $1,000,000. The obligation of the Company to purchase such policy shall be conditioned on the Executive's ’s successful completion of any required medical examination(s) such that the policy can be bought at standard rates, and an annual premium not in excess of $3,500. The Executive shall, in his sole discretion, name the beneficiaries of the policy.

Term Life Insurance. In addition to any term life insurance provided to other senior executives of the Company, the Company shall purchase a term life insurance policy in the amount of $1,000,000 on the life of the Executive, commencing as soon as practicable following the Effective Date. Except as provided in Section 4 below, the policy shall remain in effect for the Employment Period. The obligation of the Company to purchase such policy shall be conditioned on Executive's ’s successful completion of any required medical examination(s) such that the policy can be bought at standard rates. The Executive shall, in his sole discretion, name the beneficiaries of the policy.

Term Life Insurance. In addition to any term life insurance provided to other senior executives of the Company, the The Company shall purchase a term life insurance policy in the amount of $1,000,000 on insuring the life of the Executive, commencing as soon as practicable following the Effective Date. Except as provided in Section 4 below, the policy shall remain in effect for the Employment PeriodExecutive with a death benefit of $1,000,000. The obligation of the Company to purchase such policy shall be conditioned on the Executive's successful completion of any required medical examination(s) such that the policy can be bought at standard rates, and an annual premium not in excess of $3,500. The Executive shall, in his sole discretion, name the beneficiaries of the policy.

Term Life Insurance. In addition to any term life insurance provided to other senior executives Executives of the Company, the Company shall purchase a term life insurance policy in the amount of $1,000,000 for personal life on the life of the Executive, commencing as soon as practicable following the Effective Dateon 12/1/13. Except as provided in Section 4 below, Executive would identify beneficiaries and the policy shall remain in effect for the Employment Periodduration of Executive's employment with Company under this Agreement. The obligation of the Company to purchase such policy shall be conditioned on Executive's successful completion of any required medical examination(s) such that the policy can be bought at standard rates. The Executive shall, in his sole discretion, name the beneficiaries of the policy.

Term Life Insurance. In addition to any term life insurance provided to other senior executives Executives of the Company, the Company shall purchase a term term/permanent life insurance policy in the amount of $1,000,000 on the life of the Executive, commencing as soon as practicable following the Effective Dateon May 1, 2014. Except as provided in Section 4 below, the The policy shall remain in effect for the Employment Periodduration of Executive's employment with Company under this Agreement. The obligation of the Company to purchase such policy shall be conditioned on Executive's successful completion of any required medical examination(s) such that the policy can be bought at standard rates. The Executive shall, in his sole discretion, name the beneficiaries of the policy.