Common use of Key Person Insurance Clause in Contracts

Key Person 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 or an affiliate of same. 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.

Key Person Insurance. The Executive acknowledges that the Company may wish to purchase key-person insurance on the life and health of the Executive, . The beneficiary under such insurance purchased on the proceeds life and health of which would the Executive shall be payable to the Company or an affiliate of sameCompany. The Executive hereby consents to such insurance and agrees to submit perform such acts (such as health checks) as may be required by the insurer in order for the Company to any medical examination and release of medical records required to obtain purchase such key-person insurance.