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PLAN OF INSURANCE

Insurance Agreement

PLAN OF INSURANCE You are currently viewing:
This Insurance Agreement involves

MOTOROLA INC

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Title: PLAN OF INSURANCE
Date: 3/12/2004
Industry: COMEQP     Sector: TECHNO

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Plan of Insurance

 

Exhibit 10.22

 

[GRAPHIC]

 

 

 

 

Policyholder Name:

  

Motorola, Inc.

 

 

Policy Number:

  

T5MP-BT-34130

 

PLAN OF INSURANCE

Revised

 

 

Term of Coverage:

  

January 1, 2004 to January 1, 2005

 

 

Aggregate Limit:

  

None

 

 

Eligibility:

  

Active full-time Employees, working a minimum of 30 hours per week, who are Motorola U.S. Vice Presidents including U.S. based VP Expatriates.

 

Effective Date of Individual Insurance:

 

Each eligible person becomes an Insured on the later of:

 

(a)

January 1, 1999; or

 

(b)

the date the person becomes eligible to be included within a class of persons eligible for coverage under this policy.

 

Individual Terminations: Insurance for any Insured shall end on the first of the following dates:

 

(a)

the date the Insured’s assignment outside the United States or Canada ceases;

 

(b)

the date the Insured ceases to be eligible;

 

(c)

the date any premium is due and unpaid, subject to the grace period; or

 

(d)

the date this policy is terminated.

 

Notwithstanding anything above to the contrary, Insureds on approved leaves of absence (including disability leaves) will continue to be covered, provided premium payments are also continued.

 

Change in Coverage: Each Insured is covered under the Insuring and Benefit Provisions applicable to the class in which he or she qualifies:

 

(a)

beginning on the date the person becomes eligible to be included in the class; and

 

(b)

ending on the date the person ceases to be eligible to be included in the class.

 

Benefits:

 

 

 

 

 

 

A.     Class

  

Insuring Provision(s) Applicable

  

Benefit Provision(s) Applicable

All

  

5886M Business & Pleasure Coverage

  

6653M AD & Specific Loss

 

  

 

  

9051M Permanent Total Disability

 

- 1 -


 

 

 

B.     The amount of benefits for each Benefit Provision shown above is as follows:

 

Accidental Death & Specific Loss

  

Rider 6653M

Principal Sum

  

Two (2) times Insured’s annual salary,*

rounded to the next highest $1,000.00

if not an even multiple

Maximum Benefit Amount

  

$600,000.00

Loss Period

  

Loss within 365 Days of Injury

 

*  The term “Annual Salary” shall mean the annual base salary including overtime, excluding bonus and commission.

 

 

Permanent Total Disability Benefit

  

Rider 9051M

•      For Insureds under age 75 on the date of accident:

  

 

Benefit Amount

  

100% of Insured’s Principal Sum

Loss Period

  

Within 180 days from date of accident

Benefit Period

  

One Month (Lump Sum)

 

 

•      For Insureds whose coverage took effect prior to age 75 and who are between the ages of 75 and79 on the date of accident:

  

 

Benefit Amount

  

1% of Insured’s Principal Sum

Loss Period

  

Within 180 days from date of accident

Benefit Period

  

24 Months

 

 

•      For Insureds whose coverage took effect prior to age 75 and who are 80 years of age or older on the date of accident:

  

 

Benefit Amount

  

1% of Insured’s Principal Sum

Loss Period

  

Within 180 days from date of accident

Benefit Period

  

12 Months

 

 

•      For Insureds whose coverage took effect after age 75 but prior to age 80 and who are between the ages of 75 and 79 on the date of accident:

  

 

Benefit Amount

  

2% of Insured’s Principal Sum

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