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.
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.
(d) Executive is or shall be entitled to receive options to purchase 25,000 shares of Employer's Common Stock at a price of $.02 per share. These options are granted pursuant to Employer's 1997 Stock Option Plan and the Stock Option Agreement executed in connection with such grant.
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 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 weeks of vacation each year (no more than three 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 receive options under Employer's Stock Option Plan covering an aggregate of 250,000 shares of Employer's Common Stock exercisable at the fair market value thereof on the opening of business on November 2, 1998 (the commencement of the Initial Term), out of which the right to exercise such option for up to 125,000 shall immediately vest on the commencement date of the Initial Term and the right to exercise such options for the balance shall vest November 2, 1999. The options shall be in customary form granted under such plan and shall be exercisable for ten (10) years from the date of grant, unless sooner terminated in accordance with its terms.
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. (a) As long as it requires the Executive to work at the Premises or any other location more than thirty (30) miles from Executive's residence(s), Employer shall maintain, at its own expense, fully furnished living quarters for Executive that are in low-crime area within fifteen miles of the required place of work. Furnishings shall include, but not be limited to bedroom and living room furniture, a kitchen with an oven and refrigerator, a washer and dryer, and cooking and eating utensils.
(b) Employer shall reimburse Executive for all expenses, which are reasonably incurred at the sole discretion of Senior Management, 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.
(c) Executive shall provide and maintain, except gas and oil, his own vehicle, including automobile insurance in amounts equal to or greater than the minimum required by law. From the effective date of this Agreement until such time as Executive no longer provides services under this agreement, the Employer shall reimburse Baker for all gas and oil to operate his vxxxxxe.
(d) 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.
(e) 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. (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:
