Death of Employee definition

Death of Employee. Employer will, upon commencement of this agreement, purchase a term life insurance policy for a term of not less than two (2) years upon the life of Employee in the amount of $1,000,000 which policy shall be payable $500,000 together with gross up of premiums to the designated beneficiaries of Employee and any balance to Employer, if Employee shall become deceased at any time during the term of this agreement or extensions or renewals thereof as defined in said policy.
Sample 1

Examples of Death of Employee in a sentence

  • In the event of the Death of Employee or Disability while employed by the Company, Employee shall be entitled to receive supplemental retirement benefits provided in Paragraph 4 and the additional medical benefits provided in Paragraph 5.

  • Death of Employee -- At the Employee's death the Corporation shall be entitled to an amount equal to the total premiums paid by the Corporation.

  • Death of Employee If an Employee dies while a Director, officer or employee of the Company, his Beneficiary's ability to exercise the Employee's SARs shall expire unless exercised by the Beneficiary within three months after the date of the Employee's death.

  • Death of Employee during the Period will cause the payment in Paragraph 4 to be made, if applicable, pursuant to the terms and conditions of the Company's group life insurance plan.

  • SECTION V -GENERAL PROVISIONS 5.1 Amount Payable Upon Death of Employee.

  • Should this Agreement be terminated pursuant to this Section 7(a), Employee shall be entitled to Termination Payments as provided for in Section 7(g), it being understood that no further payment in respect to such termination for Death of Employee shall be made or required.

  • In the event of the Death of Employee or Disability while employed by the Company, Employee shall be entitled to receive supplemental retirement benefits provided in Paragraph 5 and the additional medical benefits provided in Paragraph 6.

  • Payments upon Death of Employee After Commencement of Deferred Compensation Payout.

  • Death of Employee, except for those benefits as provided to the contrary herein; or 3.

  • IV.2 Death of Employee: If an Employee dies after receiving Written Notice of Termination, executing a Waiver and Release, and before receiving full payment of Severance Benefits, the Employer shall pay the remaining amounts due to the Employee’s estate, unless the Employee designates a different payee on a form and in such manner as is prescribed by the Administrator.

Related to Death of Employee

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary (other than a termination for Cause) or termination of employment by a Participant Employee for Good Reason.

  • Date of Employment means the first day an Employee performs an Hour of Service.

  • Death means only death resulting from compensable injury

  • Scope of employment means performance by an employee acting in good faith within the duties of the employee’s office or employment or of tasks lawfully assigned by a competent authority including the operation or use of an agency vehicle or equipment with actual or implied consent of the supervisor of the employee, but shall not include corruption or fraud;

  • Period of Employment shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

  • Employee means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company.

  • contract of employment means a contract of service or apprenticeship, whether express or implied, and (if it is express) whether oral or in writing;

  • Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.

  • Former Employee means all individuals (including common law employees, independent contractors and individual consultants) who were employed or engaged by the Company in connection with the Business but who are no longer so employed or engaged on the date hereof.

  • Qualifying Employee means any employee of Managing Agent or Parent or any of their respective subsidiaries who is and has been an employee of Managing Agent or Parent or any of their respective subsidiaries for at least thirty-six (36) months.

  • the Executive means the Health and Safety Executive;

  • Service employee, means any person engaged in the performance of this contract other than any person employed in a bona fide executive, administrative, or professional capacity, as these terms are defined in Part 541 of Title 29, Code of Federal Regulations, as revised. It includes all such persons regardless of any contractual relationship that may be alleged to exist between a Contractor or subcontractor and such persons.

  • Self-employed INDIVIDUAL An individual who has Earned Income for the taxable year from the trade or business for which the Plan is established including an individual who would have had Earned Income but for the fact that the trade or business had no net profits for the taxable year. 1.23

  • Covered Executive means any “executive officer” of the Company as defined under Rule 10D-1.

  • Term of Employment means the period specified in Section 2 below.

  • Part-time employee means an employee who is normally required to work less than the basic hours of work.

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Non-Key Employee means any Employee who is not a Key Employee.

  • Permanent part-time employee means a person who is appointed to work hours that are less in number than a full-time employee and who is appointed as such in accordance with section 37(3)(a) of the State Service Act 2000.