Key Man definition

Key Man. Life Insurance. The Company shall have procured and shall maintain “key man” life insurance (in amounts agreed to by the Representative and with the Company as the sole beneficiary thereof) with an insurer rated at least AA or better in the most recent edition of “Best’s Life Reports” on the lives of to be determined executive officer or officers of the Company.

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Key Man. Life Insurance. The Company shall procure and shall during the 12-month period following the Effective Date continue to maintain “key man” life insurance (in reasonable amounts agreed to by the Representative and with the Company as the sole beneficiary thereof) with an insurer rated at least AA or better in the most recent edition of “Best’s Life Reports” on the life of the Chief Executive Officer of the Company.

Key Man means any person set forth on Schedule A attached hereto.

Examples of Key Man in a sentence

• Such insurance may be in the form of Directors and Officers Insurance, Key Man Insurance, Employer’s Liability Insurance, General Business Liability Insurance, and/or any other applicable insurance policy.

• The Key Man Policies will be owned by the Company and the proceeds made payable to the Company or its designee.

• Employee agrees that he shall take any reasonable actions which may be requested by the Company, and otherwise fully cooperate with the Company, in its efforts to purchase and maintain the Key Man Policies.

• If purchased by the Company, the Key Man Policies shall be for the purpose of providing funds necessary to obtain a replacement for Employee and for any other reasonable business purpose as may be determined by the Company in amounts sufficient to accomplish their intended purposes.

• Employee hereby consents to the purchase by the Company, at the Company's option, of one or more "key man" life insurance policies on Employee's life naming the Company or its designee as beneficiary (the "Key Man Policies"); provided, however, that the Company shall not be required to obtain such insurance.

More Definitions of Key Man

Key Man. Insurance. The Company shall have the right to purchase "key-man" life insurance covering Employee, in the name and for the benefit of the Company and at the Company's expense in any amount not exceeding $2,000,000. Employee shall cooperate in all reasonable respects with the Company's efforts to obtain such insurance and shall submit to any required medical or other examination; provided; however, that if such medical or other examination cannot be conducted by Employee's personal physician, then Employee shall have the right to have his personal physician attend the examination. Upon the termination of his employment hereunder, Employee may acquire any such life insurance policy upon paying the Company an amount equal to the insurance policy's cash surrender value, if any, at the time of termination and reimbursing the Company for the pro rata portion of any premium paid applicable to periods subsequent to the termination.

Key Man means ▇▇▇▇▇▇ ▇▇▇▇▇▇▇.

Key Man. Life and Disability Insurance. The Employer may, in its discretion, apply for and procure, in its own name and for its own benefit, life insurance and disability insurance with regard to the Executive, in any amount or amounts that the Employer may deem advisable. In connection therewith, the Executive shall submit to any reasonable medical or other examination, and execute and deliver any application or other instrument, as reasonably requested by the Employer. Nothing herein shall obligate the Employer to establish, maintain or continue any such insurance arrangement.

Key Man means, individually ▇▇▇▇▇ ▇. ▇▇▇▇▇ or ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, and collectively, “Key Men”.

Key Man. Insurance. At any time during the Term, Employer shall have the right to insure the life of Executive for the sole benefit of Employer, in such amounts and with such terms as Employer may determine. All related premiums shall be the obligation of Employer. Executive shall have no interest in any such policy. Executive agrees to reasonably cooperate with Employer in procuring such insurance by submitting to physical examinations, supplying all information required by the applicable insurance company, and executing all necessary documents, provided that no financial obligation is imposed upon Executive in respect of any of the foregoing.

Key Man means each of Gerard De Geer, Peter Leimdörfer, Jesper Jos Olsson and Eric Hao.

Key Man means an employee who is regularly and customarily employed by the Contractor whenever he has work and who has been employed by him sometime during the past six (6) months and who, because of his special knowledge, skill, and experience regarding the Contractor’s operations, is considered necessary by the Contractor to the efficient performance of the work to be done under this Agreement. The “key man” provision shall not be applicable for cleanup, general conditions, or without a prejob conference prior to beginning work being held, the “key man” identified and the need for such discussed, and the prejob conference form signed by the union and contractor. One (1) ▇▇▇▇▇▇▇ shall be the last man on the job when he has been supervising laborers previously on the project. There shall be no one (1) laborer projects with a ▇▇▇▇▇▇▇ designation, except as previously stated.