Executive and Director Life Insurance Benefit Agreement

Summary

This agreement outlines the Company's provision of life insurance policies for non-employee Directors and certain key executives. The Company pays the premiums and owns the policies, while the insured individuals can designate their beneficiaries. Executives are covered by $5,000,000 policies, and non-employee Directors by $500,000 term policies. Upon leaving the Company, executives may purchase their policy for its cash value. Term policies for Directors have no cash value. This benefit is taxable to the insured individuals.

EX-10.G 2 w46765ex10-g.txt LIFE INSURANCE BENEFIT 1 EXHIBIT 10-g As a taxable executive benefit, the Company pays the premiums for life insurance policies on the lives of non-employee Directors and certain key executives. The executive or Board member has the right to designate the beneficiary under the applicable life insurance policy. Messrs. Alter and Rosoff are each covered by a $5,000,000 policy. Each non-employee Director is covered by a $500,000 policy. All of the life insurance policies are owned by the Company. Upon termination of employment, each executive is entitled to acquire the insurance policy from the Company upon payment to the Company of an amount equal to the cash value of the policy at that time. The policies insuring the non-employee Directors are term life insurance policies, on which there is no build-up in cash value.