Executive Supplemental Life Insurance Plan Of Ars

Exhibit 10.17


EXECUTIVE SUPPLEMENTAL LIFE INSURANCE PLAN


OF


AMERICAN RESIDENTIAL SERVICES, INC.


EFFECTIVE SEPTEMBER 1, 1996


viii


Executive Supplemental Life Insurance Plan
Of
American Residential Services, Inc.


TABLE OF CONTENTS


PAGE


PREAMBLE ......................................................................1


ARTICLE I


DEFINITIONS AND CONSTRUCTION..........................................1
1.1 Definitions..................................................1
1.2 Construction.................................................2


ARTICLE II


ELIGIBILITY AND PARTICIPATION.........................................2
2.1 Eligibility..................................................2
2.2 Policy Issuance..............................................2
2.3 Termination of Participation.................................2


ARTICLE III


FUNDING...............................................................3
3.1 Funding of the Plan..........................................3
3.2 Company Contributions........................................3
3.3 Participant Contributions....................................3
3.4 Income Tax Treatment.........................................3


ARTICLE IV


BENEFITS..............................................................3
4.1 Eligibility for Benefits.....................................3
4.2 Amount of Coverage...........................................3
4.3 Life Insurance Policies......................................3


ARTICLE V


ADMINISTRATION........................................................4
5.1 Administration...............................................4
5.2 Powers of the Plan Administrator.............................4
5.3 Scope of Responsibility......................................4


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5.4 Claims.......................................................5
5.5 Payments to Incompetents.....................................6


ARTICLE VI


AMENDMENT AND TERMINATION.............................................6
6.1 Plan Amendment and Termination in General....................6
6.2 Termination of the Plan......................................6


ARTICLE VII


MISCELLANEOUS.........................................................6
7.1 Limitations on Participants' Rights and Nature of Benefits...6
7.2 Heirs and Successors.........................................6
7.3 No Assignment Permitted......................................7


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EXECUTIVE SUPPLEMENTAL LIFE INSURANCE PLAN
OF
AMERICAN RESIDENTIAL SERVICES, INC


EFFECTIVE SEPTEMBER 1, 1996


PREAMBLE


Effective September 1, 1996, American Residential Services, Inc., a Delaware corporation (the "Company"), hereby establishes the Executive Supplemental Life Insurance Plan (the "Plan") to provide supplemental life insurance coverage for specified employees.


ARTICLE I


DEFINITIONS AND CONSTRUCTION


1.1 DEFINITIONS. When a word or phrase appears in the Plan with the initial letter capitalized, the word or phrase will generally be a term defined in this Section 1.1. The following words or phrases have the meanings set forth in this Section 1.1, unless a clearly different meaning is required by the context in which the word or phrase is used.


(a) "ACT" means the Employee Retirement Income Security Act of 1974, as amended, and any regulations or rulings issued thereunder.


(b) "ANNIVERSARY DATE" means each September 1 after the Effective Date.


(c) "BASE PAY" means the Participant's regular monthly rate of compensation and shall not include bonuses, incentive compensation, stock options, commissions, or any ancillary or fringe benefits provided by the Company.


(d) "BENEFICIARY" means the person or persons designated to receive the applicable life insurance proceeds payable following the Participant's death. If a Beneficiary has not been designated, the Beneficiary shall be the Participant's surviving spouse or, if the Participant does not have a spouse, his estate.


(e) "BOARD" means the Board of Directors of the Company.


(f) "COMPANY" means American Residential Services, Inc., a Delaware corporation.


(g) "CODE" means the Internal Revenue Code of 1986, as amended, and any regulations or rulings issued thereunder.


(h) ""EFFECTIVE DATE" means September 1, 1996.


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(i) "EMPLOYEE" means each person who is entitled to remuneration for services rendered to the Company in the legal relationship of employer and employee and not in the relationship of an independent contractor.


(j) "PARTICIPANT" means any person who is an active Employee and who is designated by the Board or its delegate as a Participant in the Plan.


(k) "PLAN" means the Executive Supplemental Life Insurance Plan of American Residential Services, Inc., as set forth in this document and as may be amended from time to time.


(l) "PLAN ADMINISTRATOR" means the Company's Human Resource Director, or such other individual or entity appointed by the Board, pursuant to ARTICLE V, to administer the Plan.


(m) "PLAN YEAR" means the 12-month period beginning each September 1 and ending the following August 31.


1.2 CONSTRUCTION. Masculine gender, where appearing in this Plan will include the feminine gender, and vice versa, and the singular may include the plural, unless the context clearly indicates the contrary. Delivery to, or filing with the Plan Administrator, as used in this Plan, will include delivery to a person or persons designated by the Plan Administrator for the disbursement and receipt of administrative forms. This will be deemed to have occurred only when the form or other communication is actually received. Headings and subheadings are for reference only and will not be considered in the construction of the Plan. If any provision of this Plan is determined to be for any reason invalid or unenforceable, the remaining provisions will continue in full force and effect. All of the provisions of this Plan will be construed and enforced according to the laws of the State of Texas and will be administered according to the laws of the State, except as otherwise required by the Act, the Code or other federal law.


ARTICLE II


ELIGIBILITY AND PARTICIPATION


2.1 ELIGIBILITY. E ...