Split Dollar Plan Clause Samples

Split Dollar Plan. Contemporaneously with the execution of this Agreement, the Compensation and Stock Option Committee of the Sysco Board of Directors appointed under the Split Dollar Plan will designate the Officer as a participant in the Split Dollar Plan and Sysco and Harr▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ustee (as the Officer's designee), of the Cotros 1999 Family Trust ("Trust"), created by that certain instrument dated September 13, 1999, shall execute the Split Dollar Life Insurance Agreement ("Split Dollar Agreement") attached hereto as Exhibit A and incorporated herein for all purposes.
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Split Dollar Plan. This Agreement is intended to qualify the ownership of the Policy as a collateral assignment method split dollar life insurance employee benefit plan as described in Revenue Ruling 64-328, and shall be administered so as to qualify as such a plan.
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Split Dollar Plan. The provisions of this Section 5.6(k), and not those of Section 5.6(d) above, shall govern the obligations of the parties with respect to the Split Dollar Plan. The Closing Date shall be the date of cessation of participation of each Interstate Employee under the Split Dollar Plan. No Interstate Employee shall be covered under the Split Dollar Plan after the Closing Date. Any obligations or amounts payable to or with respect to an Interstate Employee or a Former Interstate Employee after the Closing Date under the Split Dollar Plan shall be the sole responsibility of the Seller. To the extent required under the applicable terms of the Split Dollar Plan and the related Split Dollar Life Insurance Agreements, Seller shall provide each affected Interstate Employee with the right to purchase all of the Seller's right, title and interest in the affected Interstate Employee's insurance policies for cash, by tendering the amount specified, within the time period specified, under the terms of the Split Dollar Plan and the related Split Dollar Life Insurance Agreements.
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Split Dollar Plan. As promptly as practicable after the Effective Time, the Employer shall obtain through the Bank and pay all premiums on up to One Million Dollars ($1 million) face amount of split dollar insurance (the "Split Dollar Plan"), insuring Executive and for the benefit of Executive.
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Split Dollar Plan. Split Dollar Plan" shall mean the Scot▇ ▇▇▇hnologies, Inc. (previously known as Figgie International Inc.) Life Insurance Plan, including the Split Dollar Life Insurance Agreement with Rich▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇ in existence on the date hereof.
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Split Dollar Plan 
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Related to Split Dollar Plan

  • Split Dollar Life Insurance The Company shall pay to the Executive a lump sum equal to the cost on the Termination Date of purchasing, at standard independent insurance premium rates, an individual

  • Group Life Insurance Plan Eligibility

  • 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.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement: (i) The provisions of the SERP shall be and hereby are incorporated in this Agreement. The SERP, as applied to Executive, may not be terminated, modified or amended without the express written consent of Executive. Thus, any amendment or modification to the SERP or the termination of the SERP shall be ineffective as to Executive unless Executive consents in writing to such termination, modification or amendment. The Supplemental Pension Benefit (as defined in the SERP) of Executive shall not be adversely affected because of any modification, amendment or termination of the SERP. In the event of any conflict between the terms of this Section 1.7.7(i) and the SERP, the provisions of this Section 1.7.7 (i) shall prevail. Executive hereby agrees and consents to Employer’s amendment of the SERP to comply with Section 409A.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.