Split Dollar Life Insurance Policy. The Company shall take all reasonable and necessary actions to terminate, as of the Termination Date, any collateral assignment in favor of the Company with respect to the life insurance policy or policies on the life of the Executive and to cancel any obligation on the part of the Executive to repay any amount to the Company pursuant to the Split Dollar Agreement and to transfer to the Executive or his designee such life insurance policy or policies free of any encumbrances.
Appears in 4 contracts
Samples: Transition Agreement (Reckson Operating Partnership Lp), Transition Agreement (Reckson Operating Partnership Lp), Transition Agreement (Reckson Operating Partnership Lp)
