Common use of Comparable Coverage Clause in Contracts

Comparable Coverage. Nothing herein negates the Company's right to amend or terminate this Plan under Article 7. The Company is not obligated to provide any additional resources to maintain the Policy in full force and effect. In addition, the Company may replace each Policy with a comparable insurance policy to cover the benefit provided under this Plan and the Company and the Executive shall execute a new Split-Dollar Policy Endorsement for each new Policy. The cash surrender value and any additional death proceeds exclusive of those designated in Section 2.2 above for each new Policy or any comparable policy shall be subject to the claims of the Company's creditors. In the event that the Company decides to maintain the Policy after the Executive's Termination of Participation in the Plan, the Company shall be the direct beneficiary of the entire death proceeds of the Policy.

Comparable Coverage. Nothing herein negates the Company's ’s right to amend or terminate this Plan Agreement under Article 7. The Company is not obligated to provide any additional resources to maintain the Policy in full force and effect. In addition, the Company may replace each Policy with a comparable insurance policy to cover the benefit provided under this Plan Agreement and the Company and the Executive shall execute a new Split-Dollar Policy Endorsement for each new Policy. The cash surrender value and any additional death proceeds exclusive of those designated in Section 2.2 above for each new Policy or any comparable policy shall be subject to the claims of the Company's ’s creditors. In the event that the Company decides to maintain the Policy after the Executive's ’s Termination of Participation in the PlanAgreement, the Company shall be the direct beneficiary of the entire death proceeds of the Policy.

Comparable Coverage. Nothing herein negates the Company's ’s right to amend or terminate this Plan Agreement under Article 7. The Company is not obligated to provide any additional resources to maintain the Policy in full force and effect. In addition, the Company may replace each Policy with a comparable insurance policy to cover the benefit provided under this Plan Agreement and the Company and the Executive Director shall execute a new Split-Dollar Policy Endorsement for each new Policy. The cash surrender value and any additional death proceeds exclusive of those designated in Section 2.2 above for each new Policy or any comparable policy shall be subject to the claims of the Company's ’s creditors. In the event that the Company decides to maintain the Policy after the Executive's Director’s Termination of Participation in the PlanAgreement, the Company shall be the direct beneficiary of the entire death proceeds of the Policy.