Collection of Death Proceeds a. Upon the death of the Employee or the survivor of the Insureds, as applicable, the Corporation shall cooperate with the beneficiary or beneficiaries designated by the Trust to take whatever action is necessary to collect the death benefit provided under each Policy. When the death benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.
Collection of Death Proceeds. 8.1 Upon the death of the Executive, the Company shall cooperate with the beneficiary or beneficiaries designated by the Executive to take whatever action is necessary to collect the death benefit provided under the Policy; when such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.
Collection of Death Proceeds a. Upon the death of the Employee, the Corporation and the Trust shall cooperate to take whatever action is necessary to collect the death benefit provided under the Policy. When such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.
Collection of Death Proceeds a. Upon the second death of the Employee and his said wife, the Corporation and the Owner shall cooperate to take whatever action is necessary to collect the death benefit provided under the Policy. When such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.
Collection of Death Proceeds. (a) Following the deaths of both Insureds, the Corporation and the Owner promptly shall take all action necessary to obtain the death benefit provided under the Policy.
Collection of Death Proceeds. Upon the death of the latter to die of Xxxxxxx Xxxxxxx Xxxxxxxxx and Xxxxxxx Xxxxxx Xxxxxxxxx, the Corporation and the Trust shall cooperate to take whatever action is necessary to collect the death benefit provided under the Policy. When such benefit has been collected and the Corporation is paid as provided herein, this Agreement shall thereupon terminate and the parties shall have no further obligation to each other hereunder. Upon the death of the latter to die Xxxxxxx Xxxxxxx Xxxxxxxxx and Xxxxxxx Xxxxxx Xxxxxxxxx, the Corporation shall have the unqualified right to receive a portion of such death benefit equal to the total amount of the premiums paid by it hereunder and the total amount of the premiums previously paid by the Corporation toward premiums on the Massachusetts Life Insurance Policy (less any sums previously received by the Corporation with respect to the Massachusetts Life insurance Policy). The balance of the death benefit provided under the Policy, if any, shall be paid directly to the Trust. In no event shall the total amount payable to the Corporation hereunder exceed the Policy proceeds payable at the death of the latter to die of Xxxxxxx Xxxxxxx Xxxxxxxxx and Xxxxxxx Xxxxxx Xxxxxxxxx. No amount shall be. paid from such death benefit to the Trust until the full amount due the Corporation hereunder has been. paid. The parties hereto agree that the beneficiary designation provision of the Policy shall conform to the provisions hereof. Notwithstanding any provision hereof to the contrary, in the event that, for any reason whatsoever, no death benefit is payable under the Policy upon the death of the latter to die of Xxxxxxx Xxxxxxx Xxxxxxxxx and Xxxxxxx Xxxxxx Xxxxxxxxx and in lieu thereof the Insurer refunds all or any part of the premiums paid for the Policy, the Corporation and the Trust shall have the unqualified right to share such premiums based on the respective cumulative contributions by the Corporation (including premiums paid by the Corporation toward the Massachusetts Life Insurance Policy, less any sums previously received by the Corporation with respect to the Massachusetts Life Insurance Policy) and the Trust, whereupon this Agreement shall terminate.
Collection of Death Proceeds. (a) Upon the death of the Employee, the beneficiary or beneficiaries designated by the Owner shall collect the death benefits provided under the Policies.
Collection of Death Proceeds a. Upon the death of the survivor of the Insureds, TALX and the Owner shall cooperate to take whatever action is necessary to collect the death benefit provided under the Policies; when such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.
Collection of Death Proceeds. 2 7. Termination of the Agreement During the Employee's Lifetime . 3 8. Disposition of the Policy on Termination of the Agreement During the Employee's Lifetime . . . . . . . . . . . . . 3 9. Insurer Not a Party . . . . . . . . . . . . . . . . . . . . . 4 10. Named Fiduciary, Determination of Benefits and Administration 4 11. Claims Procedure . . . . . . . . . . . . . . . . . . . . . . . 4 12. Amendment . . . . . . . . . . . . . . . . . . . . . . . . . . 5 13. Binding Effect . . . . . . . . . . . . . . . . . . . . . . . . 5 14. Notices . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 15. Governing Law . . . . . . . . . . . . . . . . . . . . . . . . 5 SPLIT DOLLAR AGREEMENT THIS AGREEMENT made and entered into as of this [day] day of [month], [year], by and between Xxxxxxx Electric Co., a Missouri corporation, with principal offices and place of business in the County of St. Louis, State of Missouri (hereinafter referred to as the "Corporation"), and [fullname] (sometimes referred to hereinafter as the "Employee"), an individual residing in the State of [state of residence].
Collection of Death Proceeds a. Upon the death of the Associate, the Corporation shall cooperate with the Associate’s Trustee to take whatever action is necessary to collect the death benefit provided under the Policy; when such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.
