Agreement for Decreasing Term Life Insurance Between Atrium Companies, Inc. and John Ellison, Jr.

Contract Categories: Human Resources › Compensation Agreements
Summary

Atrium Companies, Inc. agrees to obtain and pay for a decreasing term life insurance policy on the life of John Ellison, Jr. This commitment is contingent upon the successful closing of Atrium's acquisition of certain assets and stock from The Ellison Company, Inc. and Ellison Extrusion Systems, Inc. The agreement outlines Atrium's obligation to procure and maintain the insurance policy as part of the acquisition process.

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EX-10.22 25 a2035061zex-10_22.txt EXHIBIT 10.22 Exhibit 10.22 ATRIUM COMPANIES, INC. 1341 W. MOCKINGBIRD LANE SUITE 1200W DALLAS, TEXAS 75247 October 25, 2000 John Ellison, Jr. The Ellison Company, Inc. Suite 406 706 Green Valley Road Greensboro, North Carolina 27408 Dear John: Upon the closing of the proposed acquisition by Atrium Companies, Inc. ("Atrium") of the assets of The Ellison Company Windows and Doors division and the capital stock of Ellison Extrusion Systems, Inc., Atrium will procure decreasing term life insurance on your life and pay the premiums in connection therewith. Very truly yours, ATRIUM COMPANIES, INC. By: __________________________ Jeff L. Hull, President