Additional Executive Benefits. (a) Employer shall reimburse Executive for all expenses reasonably incurred by Executive in connection with the performance of Executive's duties under this Agreement against Executive's pre-submitted documented vouchers for such expenses. Executive shall be entitled to the use of an automobile, at the Company’s expense.
(b) Executive shall be entitled to five (5) weeks of vacation each year (no more than three (3) of which shall be in the same six month period) and all other general medical and executive benefit plans (including profit sharing or pension plans) as shall have been established and are continuing for executives of Employer; to the extent possible, Executive shall be immediately qualified for such benefits.
(c) Executive shall be entitled to the severance benefits set forth in Exhibit A hereto.
Additional Executive Benefits. (a) Employer shall reimburse Executive in accordance with Employer`s policies for all expenses reasonably incurred by Executive in connection with the performance of Executive`s duties under this Agreement; provided that Executive shall submit proof of such expenses prior to reimbursement within a reasonable amount of time following such expenses.
(b) Executive shall be permitted during the Term of Employment to participate in any group life, hospitalization or disability insurance plans, health programs, stock option plans, pension and profit sharing plans and similar benefits that may be available to other senior executives of Employer generally, on the same terms as such other executives, in each case to the extent that Executive is eligible under the terms of such plans or programs. Notwithstanding the generality of the foregoing, Employer shall provide and pay for the following benefits: $1,000,000 life insurance coverage for the first year of the Term of Employment, and commencing when Employer first has sufficient available cash to begin paying therefor, as reasonably determined by the three senior managers (including Executive) (i) such life insurance shall be increased to $2,000,000 and (ii) Executive shall be covered by disability insurance benefits equal to 60% of Executive`s annual salary plus target bonus. Once increased, the level of benefits and perquisites in the immediately preceding sentence shall not be decreased without Executive`s written consent.
Additional Executive Benefits. (a) Employer shall reimburse Executive for all expenses reasonably incurred by Executive in connection with the performance of Executive's duties under this Agreement against Executive's pre-submitted documented vouchers for such expenses, which must be approved in writing prior to the incurrence of such expense. Such approval shall be required by either the Chairman or Vice Chairman of the Board of Directors.
(b) Executive shall be entitled to reasonable vacation periods each year (which shall be in accordance with Employer's policy for executives) and other general medical and Executive benefit plans (including profit sharing or pension plans) as shall have been established and are continuing for executives of Employer.
Additional Executive Benefits. (a) Employer shall reimburse Executive for all expenses reasonably incurred by Executive in connection with the performance of Executive's duties under this Agreement against Executive's pre-submitted documented vouchers for such expenses, which must be approved in writing prior to the incurrence of such expense. Such approval shall be required by either the Chairman or Vice Chairman of the Board of Directors.
(b) Executive shall be entitled to reasonable vacation periods each year (which shall be in accordance with Employer's policy for executives) and other general medical and Executive benefit plans (including profit sharing or pension plans) as shall have been established and are continuing for executives of Employer.
(c) Executive has subscribed to purchase shares of Employer's common stock, par value $.001 per share ("Employer's Common Stock"), which are only being offered to certain employees and other consultants to Employer. The purchase of such shares of Employer's Common Stock was and is subject to the right of Employer to repurchase the same from Executive in certain circumstances, including upon termination of employment under this Agreement, with such repurchase rights and obligations in the form of a Repurchase and Lock-Up Agreement being executed by the parties simultaneously herewith.
Additional Executive Benefits. (a) Employer shall reimburse Executive for all expenses reasonably incurred by Executive in connection with the performance of Executive's duties under this Agreement against Executive's pre-submitted documented vouchers for such expenses. Executive shall be entitled to the use of an automobile of his choice subject to the consent of the Compensation Committee (which consent shall not be unreasonably withheld), at the Company’s expense.
(b) Executive shall be entitled to travel in business class when traveling in furtherance of Employer’s Business for all (i) international travel and (ii) domestic trips with a scheduled duration of two (2) hours or more.
(c) Executive shall be entitled to five (5) weeks of vacation each year (no more than three (3) of which shall be in the same six month period) and all other general medical and executive benefit plans (including profit sharing or pension plans) as shall have been established and are continuing for executives of Employer; to the extent possible, Executive shall be immediately qualified for such benefits.
(d) Executive shall be entitled to the severance benefits set forth in Exhibit A hereto.
Additional Executive Benefits. (a) Employer shall reimburse Executive for all expenses, which are reasonably incurred by Executive in connection with the performance of Executive's duties under this Agreement against Executive's pre-submitted documented vouchers for such expenses, which must be approved in writing by Employer prior to the reimbursement of such expense.
(b) Executive shall be entitled to a total of four weeks of vacation, sick leave and personal time per year, during which his compensation will be paid in full ("Paid Time Off"); provided, however, the Executive shall not take more than two weeks of consecutive vacation without the approval of the Executive's immediate superior in Senior Management of the Employer.
(c) The Executive will be eligible to participate in all benefit and equity plans, arrangements, policies and programs and fringe benefits and perquisites generally offered to other employees of the Employer (i.e., any and all life, dental, medical, and other group benefit plans provided by the Employer for eligible employees during the term of this Agreement). In lieu of group medical coverage offered by the Employer, the Employer shall, at the Executive's option, reimburse Executive for health coverage Executive obtains on his own.
Additional Executive Benefits. In addition to any other compensation or benefits payable to Employee hereunder, Employee shall be entitled to the following Additional Executive Benefits from the Company as set forth herein:
Additional Executive Benefits. (a) Employer shall promptly reimburse Executive for all documented travel, entertainment and other business expenses reasonably incurred by Executive in connection with the performance of Executive’s duties under this Agreement, in accordance with applicable Employer policies.
(b) Executive shall be entitled to not less than five (5) weeks of vacation each year (no more than three (3) of which shall be in the same six month period).
(c) Executive and his family shall be entitled to receive employee welfare benefits, including profit sharing or pension plans, life insurance, health, medical, dental, hospitalization, prescription drug, disability, accidental death and travel accident insurance benefits, and fringe benefits and perquisites, in accordance with the most favorable plans, practices, programs and policies of Employer (on the most favorable terms and conditions) in effect for its senior executives from time to time. Executive and his family shall be eligible for such benefits commencing on the Effective Date, subject to any initial probationary periods generally applicable with respect to such benefits.
(d) Executive shall receive a one-time payment of Ten Thousand and 00/100 Dollars ($10,000.00) as a moving allowance, such amount to be paid in a lump sum within thirty (30) days after Executive’s and his family’s relocation to the New York Metropolitan area.
(e) Employer shall pay the fees of U.S. immigration counsel incurred to obtain and renew a visa from the U.S. Immigration and Naturalization Service to allow Executive to fully perform his duties hereunder (the “Visa”).
(f) Employer shall pay or reimburse Executive for all reasonable and documented attorneys’ fees and expenses Executive incurs in connection with the preparation, negotiation, execution, and delivery of this Agreement and any related agreements. Such reimbursement shall be made within thirty (30) days following presentation to Employer of appropriate invoices or other documentation for the amount of such fees and expenses.
Additional Executive Benefits. (a) Employer shall promptly reimburse Executive for all documented travel, entertainment and other business expenses reasonably incurred by Executive in connection with the performance of Executive’s duties under this Agreement, in accordance with applicable Employer policies.
(b) Executive shall be entitled to not less than three (3) weeks of vacation each year.
(c) Executive and his family shall be entitled to receive employee welfare benefits, including profit sharing or pension plans, life insurance, health, medical, dental, hospitalization, prescription drug, disability, accidental death and travel accident insurance benefits, and fringe benefits and perquisites, in accordance with the most favorable plans, practices, programs and policies of Employer (on the most favorable terms and conditions) in effect for its senior executives from time to time. Executive and his family shall be eligible for such benefits commencing on the Effective Date, subject to any initial probationary periods generally applicable with respect to such benefits.
Additional Executive Benefits. (c) of the Employment Agreement is hereby modified in its entirety to read as follows:
