Life Insurance Amount. Provided that the Employer has elected to permit the purchase of life insurance policies, the amount of life insurance on each participant's life shall be:
Life Insurance Amount. (m) Except as Buyer and any Transferred Employee may otherwise mutually agree, Buyer shall pay to each Non-Bargaining Unit Transferred Employee whose employment is terminated without cause by Buyer or one of its Affiliates within the period commencing on the Closing Date and ending eighteen (18) months thereafter severance payments equal to the greater of (i) such Transferred Employee's Total Compensation for the remainder of such eighteen (18) month period as if still employed and (ii) an amount equal to one (1) week's base pay for each full year of service with Seller and/or NMC (up to a maximum of thirty (30) weeks' base pay). Buyer is not establishing any separation plan or severance agreement, plan or coverage to replicate any separation plan or severance agreement, plan or coverage for the Non-Bargaining Unit Transferred Employees that is identified in Schedules 4.8 or 4.9(a) (including any agreement, coverage or plan so identified in Schedules 4.8 or 4.9(a) as being specifically applicable to one or more Big Rock ISFSI Employees), and Buyer shall not be obligated to provide any Non-Bargaining Unit Transferred Employee any severance payment or other benefits upon the termination of such Non-Bargaining Unit Transferred Employee's employment by Buyer without cause other than as provided in the preceding sentence. Nothing contained herein shall alter the at-will employment relationship of any Non-Bargaining
Life Insurance Amount. Beginning with the first year anniversary of employment, the Employer will provide a group life insurance policy equal to the employee's annual salary rounded upward to the next highest thousand at no cost for all employees. The amount of insurance provided to employees sixty-five (65) years of age but under seventy (70) years of age shall be reduced to sixty-five percent (65%). For employees age seventy (70) and over, the amount of insurance provided shall be reduced to fifty percent (50%).
Life Insurance Amount. Provided that the Employer has elected to permit the purchase of life insurance policies, the amount of life insurance on each participant's life shall be: ☐ a. (not to exceed 100) times the anticipated monthly retirement benefit ☐ b. the amount purchased by a premium equal to % of the theoretical contribution generated when determining the Theoretical Individual Level Premium Reserve (100% or less) ☐ c. an amount determined by the employer, not to exceed the limitations of Section 3.4.1 ☐ d. the greater of (not to exceed 100) times the anticipated monthly retirement benefit or the amount purchased by % of the theoretical contribution generated when determining the Theoretical Individual Level Premium Reserve (Second blank must be 100% or less) ☐ e. amounts in effect on / / (Specify date.) Insurance in excess of the amount selected above must be surrendered as soon as administratively possible. Note: For this purpose the face amount of insurance is limited to that which can be purchased for less than 66 2/3 percent (if whole life) or 33 1/3 percent (if term or universal life) of the theoretical contribution generated when determining the Theoretical Individual Level Premium Reserve. Note: Must coordinate this provision with Part II, Section F.4.
Life Insurance Amount. The Home will provide life insurance for all eligible employees in the amount of $20,000.00.
