Company Retention definition

Company Retention means that amount indicated as the Company Retention in the Schedule of Reinsurance as set forth in the Retention of Company & Liability of Reinsurer Article. It is understood and agreed that any underlying reinsurance maintained by the Company on the business reinsured hereunder, shall not be deducted in determining the Company's Retention, including amounts retained by the Company or its affiliated companies under common management or common ownership.
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Company Retention shall be satisfied if this amount is retained by the Company or any affiliated company under common management or common ownership. Third and Fourth Excesses For each Loss Occurrence, the Reinsurer shall be liable for each excess layer for the amount of Ultimate Net Loss in excess of the "Company Retention" for such excess layer stated in Item 1 of Exhibit A. The limit of liability of the Reinsurer under each excess layer in respect of any one Loss Occurrence shall not exceed one hundred percent (100.00%) of the "Each Loss Occurrence Limit" as stated in Item 2 of Exhibit A for such excess layer. The limit of liability of the Reinsurer under each excess layer in respect of all Loss Occurrences during each Annual Period of this Contract shall not exceed one hundred percent (100.00%) of the "Limit for all Loss Occurrences" as stated in Item 3 of Exhibit A for such excess layer. The coverage hereunder is subject to at least two risks being involved in the same Loss Occurrence. The Company shall be the sole judge of what constitutes each risk.
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Company Retention shall be satisfied if this amount is retained by the Company or any affiliated company under common management or common ownership.
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Examples of Company Retention in a sentence

  • The Reinsurer shall pay to the Company, with respect to each Risk of the Company, the amount of Net Loss sustained by the Company in excess of the Company Retention but not exceeding the Limits of Liability of the Reinsurer as set forth in the Schedule of Reinsurance.

  • In no event, however, shall the amount required with respect to the Company Retention be reduced.

  • If an amount is payable by a Participant to the Company or a Subsidiary under applicable withholding tax laws in connection with the lapse of such restrictions the Participant may make such payment, in whole or in part, by authorizing the Company to transfer to the Company Retention Shares otherwise deliverable to the Participant having a fair market value equal to the amount to be paid under such withholding tax laws.

  • Recoveries from catastrophe reinsurance shall be deemed not to reduce the amount required with respect to the Company Retention.

  • This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof and supersedes and replaces any prior employment agreements, replacement compensation agreements, retention agreements (including the Enron Retention Agreement), the Portland General Electric Company Retention Incentive Plan, as amended, and the Enron Corp.

  • All insurance written under one or more policies of the Company against the same peril on the same Risk shall be combined, and the Company Retention and the Limits of Liability of the Reinsurer shall be determined on the basis of the sum of all insurance against the same peril and on the same Risk which is in force at the time of a claim or loss.

  • If an amount is payable by a Participant to the Company or a Subsidiary under applicable withholding tax laws in connection with the lapse of such restrictions, the Committee, in its sole discretion, may permit the Participant to make such payment, in whole or in part, by authorizing the Company to transfer to the Company Retention Shares otherwise deliverable to the Participant having a fair market value equal to the amount to be paid under such withholding tax laws.

  • The periods for which your data is held after the end of employment can be found in the Company Retention Policy which can be found here.

  • Group Company Retention monies refer to amounts withheld from contractors’ claim for work done in accordance with contractual rights, which are progressively released upon the completion of the project.

  • This term shall mean a loss which is not covered under any other provision of this Exhibit resulting from an action taken by the insured or assignee arising from the Company’s handling of any claim otherwise covered under this Exhibit on the Risks reinsured hereunder which have total amounts of insurance greater than the Company Retention.


More Definitions of Company Retention

Company Retention means the amount the Company shall retain for its own account; however, this requirement shall be satisfied if this amount is retained by the Company or its affiliated companies under common management or common ownership. REVISED: 10/4/02 No. 2521-0027
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Company Retention means the amount the Company shall retain for its own account; however, this requirement shall be satisfied if this amount is retained by the Company or its affiliated companies under common management or common ownership.
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Company Retention means: · 0% of gross weekly STD benefits; and · 0% of gross monthly LTD benefits. The parties may mutually agree upon a change in the Company Retention that shall take effect on or after the date the Agreement has been in force for 36 months.
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Company Retention means the Company shall retain for its own account the amount set forth as the Company Retention in the Schedule of Reinsurance as set forth in the Reinsurer’s Liability Article.
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Related to Company Retention

  • Company 401(k) Plan shall have the meaning set forth in Section 6.09(e).

  • Public employees retirement system means the retirement plan and program

  • Scrutinized company means any company not described in subsection (10) that has business operations that involve contracts with or provision of supplies or services to the government of Iran; companies in which the government of Iran has any direct or indirect equity share, consortiums, or projects commissioned by the government of Iran; or companies involved in consortiums and projects commissioned by the government of Iran and 1 or more of the following:

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Continuing Employees shall have the meaning set forth in Section 6.9(a).

  • Retiree Health Plan means an "employee welfare benefit plan" within the meaning of Section 3(1) of ERISA that provides benefits to individuals after termination of their employment, other than as required by Section 601 of ERISA.

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • Company Employees shall have the meaning set forth in Section 6.10(a).

  • Continuing Employee has the meaning set forth in Section 6.7(a).

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Policy Grievance shall be signed by a xxxxxxx or a Union representative or, in the case of an Employer's policy grievance, by the Employer or its representative.

  • Pharmacy benefits management means the administration or management of prescription drug

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Group health benefit plan means any health care plan, subscription contract, evidence of

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • CMS means the Centers for Medicare and Medicaid Services.

  • Health benefits plan means a benefits plan which pays or

  • Prime Contractor employee, as used in this clause, means any officer, partner, employee, or agent of a prime Contractor.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Company Employee Benefit Plan means each Employee Benefit Plan that is maintained, sponsored or contributed to (or required to be contributed to) by any of the Group Companies or under or with respect to which any of the Group Companies has any Liability.

  • National Pollutant Discharge Elimination System (NPDES) means the national program for issuing, modifying, revoking and reissuing, terminating, monitoring, and enforcing permits and imposing and enforcing pretreatment requirements, under Sections 307, 318, 402, and 405 of CWA. The term includes an approved program.

  • Company Employee means an employee of the Company or an employee of a Subsidiary of the Company, if any.

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m)(i).

  • Company Personnel means any current or former officer, employee, director or consultant of the Company or any of its Subsidiaries.

  • EDS means Electronic Data Systems Corporation, a Delaware corporation, all its direct and indirect subsidiaries, all its affiliated entities, and all its successors and assigns, and the employees, agents, attorneys, officers and directors of each of them.