Company Death Benefit definition

Company Death Benefit means the portion of the Policy's death benefit payable to the Company as provided in Section 8.4.
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Company Death Benefit means that portion of the death benefit under the Insurance Policy upon the death of the employee equal to the Company Interest.
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Company Death Benefit means the portion of the Policy's death benefit payable to Company as provided in Section 6. 2.08 Effective Date means April 1, 1998. 2.09 His Spouse means Xxxxx X. Xxxxxx 2.10 Insurer means American General Life Insurance Company. 2.11 Participant means X. Xxxx Xxxxxx. 2.12 Participant's Coverage Amount means the portion of the Policy's death benefit payable to the beneficiary(ies) of the Assignees, which shall equal an aggregate of $3,339,795. 2.13 Policy means the life insurance policy acquired on the lives of the Participant and the Participant's spouse which is subject to the terms of this Agreement, which is American General Life Insurance Company policy number A10170987L.
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Examples of Company Death Benefit in a sentence

  • From the date of death until the Death Benefit is paid, the Death Benefit will be credited with interest at the greater of the Company Death Benefit Rate or the applicable state interest rate required to be paid on annuity death claims, if any.

  • We determine the Company Death Benefit Rate solely in our discretion and it is subject to change.

  • Your Beneficiaries may contact us to determine the current Company Death Benefit Rate.

  • To secure the recovery by the Company of the Company Death Benefit or the Termination Amount, the Owner shall execute a limited assignment of amounts payable under the Policy by the Insurer in the event of the surrender of the Policy or the death of the Insured in favor of the Company in the form attached hereto as Exhibit B (the "Collateral Assignment").

  • The Collateral Assignment shall specifically limit the rights of the Company thereunder to the recovery of the Company Death Benefit or the Termination Amount in the event of death of the Insured or other termination of this Agreement.

  • If the Policy provides for a death benefit equal to the sum of the face amount of the Policy and any cash account or accumulation value, any Company Death Benefit should first be paid from the cash account or accumulation value portion of the death benefit.

  • The Company and the Owner shall take all action necessary under the terms of the Policy to obtain the Company Death Benefit payable to the Company.

  • The beneficiary(ies) of the Policy Owner shall be entitled to receive the Participant's Coverage Amount, which shall consist of the excess, if any, of the Policy's death benefit over the Company Death Benefit.

  • The Company Death Benefit Rate may be less than the Guarantee Period Interest Rate in effect as of the date of death, but shall not be less than zero percent.

  • Upon the death of the Insured, the Company shall be entitled to payment by the Insurer from the death benefit payable under the Policy an amount which shall be equal to the lesser of the cash surrender value of the Policy immediately prior to the Insured's death or the Company Advances ("Company Death Benefit").


More Definitions of Company Death Benefit

Company Death Benefit means the portion of the Policy’s death benefit payable to Company as provided in Section 6.
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Company Death Benefit means the portion of the Policy’s death benefit payable to Company as provided in Section 10.
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Company Death Benefit means the portion of the Policy's death benefit payable to Company as indicated in the Participant's Agreement.
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Related to Company Death Benefit

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Termination Benefit means the benefit set forth in Article 7.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Retirement Benefit means the benefit set forth in Article 5.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Disability Benefit means the benefit set forth in Article 8.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Compensation Accrued at Termination means the following:

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • Disability retirement for plan 1 members, means the period