Employer’s Interest. The Employer shall own the Policy and shall have the right to exercise all incidents of ownership and may terminate the Policy without the consent of the Employee. The Employer shall be the beneficiary of the remaining death proceeds of the Policy after the Employee’s interest is determined according to Section 2.2 below.
Employer’s Interest. As used in this Agreement, (i) the "Employer's Gross Interest" in the Policy shall mean the aggregate amount of all premiums paid by the Employer with respect to the Policy minus the aggregate amount of all reimbursements of
Employer’s Interest. The Employer shall have the unqualified right to receive a portion of such net proceeds equal to the Employer's Net Interest; provided, however, in no event shall the amount payable to the Employer exceed the entire amount of such net proceeds.
Employer’s Interest. The Employer shall have the unqualified right to receive a portion of such net death benefit equal to the Employer's Net Interest; provided, however, in no event shall the amount payable to the Employer exceed the entire amount of such net death benefit.
Employer’s Interest. Executive acknowledges that Employer has expended and will expend substantial amounts of time, money and effort to develop business strategies, customer relationships, employee relationships, trade secrets and goodwill and to build an effective organization and that Employer has a legitimate business interest and right in protecting those assets as well as any similar assets that Employer may develop or obtain. Executive acknowledges that Employer is entitled to protect and preserve the going concern value of Employer and its business and trade secrets to the extent permitted by law. Executive acknowledges and agrees that the restrictions imposed upon Executive under this Agreement are reasonable and necessary for the protection of Employer’s goodwill, confidential information, trade secrets and customer relationships and that the restrictions set forth in this Agreement will not prevent Executive from earning a livelihood without violating any provision of this Agreement.
Employer’s Interest. In consideration of the Employer’s premium payments under the split-dollar life insurance arrangement, the Employer’s Interest in the Policy shall at all times equal the amount determined in accordance with the following provisions. The Employer shall be entitled to recover the Employer’s Interest in the Policy in accordance with the terms and conditions of this Agreement. In no event, however, shall the Insurer be obligated to pay any amounts in excess of its obligations under the terms of the Policy.
