Executive Life Insurance Plan Sample Clauses

Executive Life Insurance Plan. During the Post-Change of Control Employment Period, the Company shall continue to maintain the Xxxxxx Oceanics, Inc. Executive Life Insurance Plan, with its associated Salary Continuation Agreement, as may be amended from time to time, or pay to the Executive a lump sum representing the value of all benefits under such plan.
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Executive Life Insurance Plan. During the Post-Change of Control Employment Period, the Company shall continue to maintain the Atwood Oceanics, Inc. Executive Life Insurance Plan, with its assocxxxxx Salary Continuation Agreement, as may be amended from time to time, or pay to the Executive a lump sum representing the value of all benefits under such plan.
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Executive Life Insurance Plan. Notwithstanding anything in this Agreement to the contrary, Scripps will retain all Liabilities under the Scripps Executive Life Insurance Plan.
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Executive Life Insurance Plan. Effective on the Coverage Date, Corn shall establish an executive life insurance plan (the "Replacement ELIP") substantially similar to the CPC International Inc. Executive Life Insurance Plan (the "ELIP"). Corn shall allow each ELIP participant who becomes a Corn Employee to participate in the Replacement ELIP; provided, however, that such participation shall be conditioned upon that participant's consent, within a reasonable time period after request for such consent is made, to the assignment to Corn of (i) the Collateral Assignment executed in favor of CPC of the insurance policy owned by the participant and (ii) the Participation Agreement entered into under the ELIP. CPC shall assign to Corn its rights under such Collateral Assignment and Participation Agreement as to any participant in the ELIP who becomes a participant in the Replacement ELIP under the terms and conditions set forth above. CPC shall terminate participation in the ELIP by those participants who become Corn Employees regardless of whether such a participant consents to the assignment of such Collateral Assignment to Corn. In addition, prior to the Distribution Date, CPC shall pay the 1998 employer-paid premium with respect to Corn Employees covered under the Replacement ELIP.
Sample 1
Executive Life Insurance Plan. As soon as practicable following the ----------------------------- Spinoff Date, MFCI and MHCI each shall establish executive life insurance plans substantially similar to the Xxxxxxxx Restaurants Inc. Executive Life Insurance Plan (the "ELIP"). Those participants of the ELIP who become employees either of MFCI or MHCI by the Spinoff Date shall cease participation in the ELIP as of the Spinoff Date. Subject to the consent of each such participant, MRI shall assign to MFCI or MHCI, as the case may be, the collateral assignments executed in its favor by those participants.
Sample 1
Executive Life Insurance Plan. As soon as practicable following the ----------------------------- Distribution Date, SNFCo shall establish an executive life insurance plan (the "Replacement ELIP) substantially similar to the Scout, Inc. Executive Life Insurance Plan (the "ELIP"). SNFCo shall allow, for a period of at least three months from the Distribution Date, each ELIP participant who becomes an employee of SNFCo or a SNFCo Affiliate by the Distribution Date to participate in the Replacement ELIP; provided, however, that the participation of any such participant in the Replacement ELIP shall be conditioned upon that participant's consent to the assignment to SNFCo of Scout's Collateral Assignment in the insurance policy owned by the participant and subject to the Split Dollar Agreement entered into under the ELIP (the "Scout Collateral Assignment"). New Scout shall assign to SNFCo its rights under the Scout Collateral Assignment as to any participant in the ELIP who becomes a participant in the Replacement ELIP under the terms and conditions set forth above. New Scout shall terminate participation in the ELIP by those participants of the ELIP who become employees of SNFCo or a SNFCo Affiliate by the Distribution Date, regardless of whether such a participant consents to the reassignment of the Scout Collateral Assignment to SNFCo. SNFCo shall be responsible for any premium obligations under the ELIP in respect of employees of SNFCo or a SNFCo Affiliate immediately after the Distribution Date and New Scout shall tender to SNFCo immediately upon receipt any amounts recovered by New Scout under the applicable Scout Collateral Assignment entered into with the employees for whom premium obligations were so paid by SNFCo.
Sample 1
Executive Life Insurance Plan. Employer shall pay the current annual premium under this program for Employee, as is necessary to provide a pre-retirement death benefit under the plan equal to three times Base Pay, until he reaches age sixty-two (62). At such time, Employer will roll out or release to Employee an insurance policy that will provide paid up life insurance coverage, for the life of Employee, in the face amount (i.e., with a death benefit of) two times Final Salary (as defined under the Executive Life Insurance Plan), or at Employee's option, a payout of the cash surrender value at that time less the Company's investment in the premium from inception date of the Plan.
Sample 1
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Executive Life Insurance Plan. The Sellers shall ----------------------------- be liable for the payment of all benefits pursuant to and all costs associated with the Mallinckrodt Inc. Executive Life Insurance Plan or any similar life insurance plan or arrangement relating to the Companies' employees prior to the Closing Date, and the Buyer, its affiliates and any Company shall not be liable for any payments or charged for any costs associated with the same. 10.5.2
Sample 1

Related to Executive Life Insurance Plan

  • Group Life Insurance Plan Section 1 - Eligibility Regular full-time and regular part-time employees who are on staff January 1, 1979 or who join the staff following this date shall, upon completion of the three-month probationary period, become members of the Group Life Insurance Plan as a condition of employment.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

  • Key Person Life Insurance The Executive acknowledges that the Company may wish to purchase insurance on the life of the Executive, the proceeds of which would be payable to the Company, at the Company’s expense. The Executive hereby consents to such insurance and agrees to submit to any medical examination and release of medical records required to obtain such insurance.

  • Hospitals of Ontario Voluntary Life Insurance Plan The Hospital also agrees to make the Hospitals of Ontario Voluntary Life Insurance Plan (HOOVLIP) available to the nurses subject to the provisions of HOOVLIP at no cost to the Hospital.

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