Additional Benefits and Working Facilities a. Michxxx Xxxds shall provide Executive with medical insurance and shall permit Executive to participate in other fringe benefit plans as Michxxx Xxxds may from time to time provide for its other executive officers. The terms of said benefits in all cases shall be no less favorable to Executive than those offered to other executive officers of Michxxx Xxxds.
b. Executive is entitled to take up to 4 weeks of vacation per annum at reasonable times and for customary and reasonable lengths of time consistent with his overall responsibilities hereunder. 2
c. Michael Foods shall reimburse Executive for all reasonable expenses incurred by Executive in connection with Michxxx Foods' business, including but not limited to, expenses of travel and entertainment, upon presentation of itemized statements therefor.
Additional Benefits and Working Facilities a. For each calendar year during the term of this Agreement, Xxxxxxxxx shall be entitled to participate in the Executive Incentive Compensation Plan of Xxxxxxx Foods. Any Incentive Compensation or Options earned under said Plan shall be determined and paid or granted in accordance with the Plan.
b. Xxxxxxx Foods shall provide Xxxxxxxxx with medical insurance and shall permit Xxxxxxxxx to participate in other fringe benefit plans as Xxxxxxx Foods may from time to time establish for its executive officers. The terms of said benefits shall be no less generous than those offered to other executive officers of Xxxxxxx Foods.
x. Xxxxxxxxx is entitled to take vacations at reasonable times and for customary and reasonable lengths of time consistent with his overall responsibilities as President of Crystal Farms Refrigerated Distribution Company.
d. Michael Foods shall reimburse Xxxxxxxxx for all reasonable expenses incurred by Xxxxxxxxx in connection with Xxxxxxx Foods' business, including but not limited to, expenses of travel and entertainment, upon presentation of itemized statements therefor.
Additional Benefits and Working Facilities. Michael Foods shall provide Executive with medical insurance and shall permit Executive to participate in other fringe benefit plans as Michael 174 Foods may from time to time provide for its other executive officers. The terms of said benefits in all cases shall be no less favorable to Executive than those offered to other executive officers of Michael Foods.
Additional Benefits and Working Facilities. (a) The Company shall furnish Employee with the equipment, office space, secretarial support and such other items related to his employment that Employee determines are necessary, useful, and appropriate to him for the duties required by his employment. The Company shall reimburse for reasonable travel, entertainment and other business related expenses, including but not limited to, conference membership fees and cellular phone costs and charges, Employee incurs on behalf of the Company.
(b) The Company shall provide Employee health and dental insurance, 401(k), and any other benefits included in its corporate benefit program on terms no less favorable than those applicable to the Company's Chief Executive Officer. In addition, Employee shall have the benefit of such other employee benefit plans that the Company may, from time to time, establish and in which Employee would be entitled to participate pursuant to the terms thereof. THE COMPANY AT ITS SOLE DISCRETION SHALL HAVE THE RIGHT TO CHANGE OR DISCONTINUE SUCH PLANS.
(c) Employee shall be entitled to annual paid vacation accruing at the rate of four weeks per year of employment. Unused vacation will carry over into subsequent years.
(d) In addition to Section 7(c) above, Employee shall accrue personal days at the rate of six (6) personal days per year of employment. Any personal days not used within one year following accrual shall lapse.
(e) The Company shall reimburse Employee for all reasonable expenses incurred by Employee in connection with the Company's business, upon presentation of itemized statements therefore.
(f) As additional consideration for the Employee's services under this Agreement, the Company agrees to grant Employee an option grant to purchase 25,000 shares of the Company's Common Stock at the fair market value on April 3, 2001, vesting ratably over a 4 year period on each anniversary of the grant date. Vested options are exercisable until the earliest of (i) the ten year anniversary of the grant date; or (ii) the one-year anniversary of employment termination for any reason. The options granted to Employee pursuant to this Section shall be "incentive stock options," intended to qualify, and as permitted, under Section 422 of the Internal Revenue Code of 1986.
Additional Benefits and Working Facilities. Michael Foods shall provide Executive with medical insurance and shall permit Executive to participate in other fringe benefit plans as Michael -------------------- * The confidential portion has been so omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment under Rule 24(b)-2 of the Securities Act of 1934. 168 Foods may from time to time provide for its other executive officers. The terms of said benefits in all cases shall be no less favorable to Executive than those offered to other executive officers of Michael Foods.
Additional Benefits and Working Facilities a. For each calendar year during the term of this Agreement, Goucher shall be entitled to participate in the Executive Incentive Compensation Plan of Xxxxxxx Foods. Any Incentive Compensation or Options earned under said Plan shall be determined and paid or granted in accordance with the Plan.
b. Xxxxxxx Foods shall provide Goucher with medical insurance and shall permit Goucher to participate in other fringe benefit plans as Xxxxxxx Foods may from time to time establish for its executive officers. The terms of said benefits shall be no less generous than those offered to other executive officers of Xxxxxxx Foods.
Additional Benefits and Working Facilities. (a) The Company shall furnish Employee with the equipment, office space, secretarial support and such other items related to his employment that Employee determines are necessary, useful, and appropriate to him for the duties required by his employment. The Company shall reimburse for reasonable travel, entertainment and other business related expenses, including but not limited to, conference membership fees and cellular phone costs and charges, you incur on behalf of the Company.
(b) The Company shall provide Employee health and dental insurance, 401(k), and any other benefits included in its corporate benefit program. In addition, Employee shall have the benefit of such other employee benefit plans that the Company may, from time to time, establish and in which employee would be entitled to participate pursuant to the terms thereof. COMPANY, AT ITS SOLE DISCRETION, SHALL HAVE THE RIGHT TO CHANGE OR DISCONTINUE SUCH PLANS.
(c) Employee shall be entitled to annual paid vacation consistent with the Company's existing vacation policy, and as amended from time to time.
(d) In addition to Section 6(c) above, Employee shall accrue personal days at the rate of six (6) personal days per year of employment. Any personal days not used within one year following accrual shall lapse.
(e) The Company shall reimburse Employee for all reasonable expenses incurred by Employee in connection with the Company's business, upon presentation of itemized statements therefor.
Additional Benefits and Working Facilities. (a) The Company shall furnish Employee with the equipment, office space, administrative support and such other items related to his employment that Employee determines are necessary, useful, and appropriate to him for the duties required by his employment.
(b) The Company shall provide Employee health and dental insurance, 401K, and any other benefits included in its corporate benefit program. In addition, Employee shall have the benefit of such other employee benefit plans that the Company may, from time to time, establish and in which employee would be entitled to participate pursuant to the terms thereof. COMPANY AT ITS SOLE DISCRETION SHALL HAVE THE RIGHT TO CHANGE OR DISCONTINUE SUCH PLANS.
(c) Employee shall be entitled to annual paid vacation accruing at the rate of 15 days of vacation per year (prorated based on date of hire) of employment and otherwise consistent with the Company's existing vacation policy, and as amended from time to time.
(d) In addition to Section 6(c) above, Employee shall accrue personal days at the rate of six (6) personal days per year of employment with an initial pro-ration of days based on date of hire. Any personal days not used within one year following accrual shall lapse.
(e) The Company shall reimburse Employee for all reasonable expenses incurred by Employee in connection with the Company's business, upon presentation of itemized statements therefor. As additional consideration for the Employee's services under this Agreement, the Company agrees to grant Employee an initial option grant to purchase 300,000 shares of the Company's Common Stock at the fair market value on the date of this Agreement, vesting as follows: 25,000 shares on January 24, 2001, 200,000 shares, 50,000 of which shall vest on July 23, 2001 and the remaining 150,000 ratably over 12 quarters at the end of each quarter, 75,000 shares vesting at nine years or earlier if certain mutually agreed upon milestones are achieved, All options will be non-qualified stock options with immediate vesting (i) upon change in control as defined in the stock option plan or (ii) upon the termination of Employee's employment for other than Cause after the Company has entered into an agreement to enter into a change in control. Employee will have six months to exercise vested options upon termination
Additional Benefits and Working Facilities a. For each calendar year during the term of this Agreement, Clarkson shall be entitled to participate in the Executive Incentive Compensation Plan of Xxxxxxx Foods. Any Incentive Compensation or Options earned under said Plan shall be determined and paid or granted in accordance with the Plan.
b. Xxxxxxx Foods shall provide Clarkson with medical insurance and shall permit Clarkson to participate in other fringe benefit plans as Xxxxxxx Foods may from time to time establish for its executive officers. The terms of said benefits shall be no less generous than those offered to other executive officers of Xxxxxxx Foods.
x. Xxxxxxxx is entitled to take vacations at reasonable times and for customary and reasonable lengths of time consistent with his overall responsibilities as President of Northern Star Co.
d. Michael Foods shall reimburse Clarkson for all reasonable expenses incurred by Clarkson in connection with Xxxxxxx Foods' business, including but not limited to, expenses of travel and entertainment, upon presentation of itemized statements therefor.
Additional Benefits and Working Facilities. (a) The Company shall furnish Employee with the equipment, office space, secretarial support and such other items related to his employment that Employee determines are necessary, useful, and appropriate to him for the duties required by his employment.
(b) The Company shall provide Employee health and dental insurance, 401K, and any other benefits included in its corporate benefit program. In addition, Employee shall have the benefit of such other employee benefit plans that the Company may, from time to time, establish and in which employee would be entitled to participate pursuant the terms thereof. COMPANY AT ITS SOLE DISCRETION SHALL HAVE THE RIGHT TO CHANGE OR DISCONTINUE SUCH PLANS.
(c) Employee shall be entitled to annual paid vacation consistent with the Company's existing vacation policy, and as amended from time to time.
(d) The Company shall reimburse Employee for all reasonable expenses incurred by Employee in connection with the Company's business, upon presentation of itemized statements therefor.
(e) The Company shall provide to Employee either a Company automobile or a $450 monthly automobile allowance, subject to applicable business use and tax laws.
