Common use of Additional Perquisites Clause in Contracts

Additional Perquisites. During the Executive's employment hereunder, the Company shall provide the Executive with (i) term life insurance in an amount equal to two (2) times Base Salary; (ii) payment for initiation fees at a social, dining, athletic or country club that the CEO has approved for use by Executive for priority business entertainment purposes; (iii) the right to participate in the 401(k) plan; (iv) long-term disability coverage providing a monthly benefit of Twelve Thousand Five Hundred Dollars ($12,500); and (v) a one-thousand dollar ($1,000) annual allowance for tax return preparation expenses. Executive shall provide documentation of expenses under item (v) as requested by Company.

Additional Perquisites. During the Executive's employment hereunder, the Company shall provide the Executive with (i) term life insurance in an amount equal to two (2) times Base Salary; (ii) payment for initiation fees at a social, dining, athletic or country club that the CEO Board has approved for use by Executive for priority business entertainment purposes; (iii) the right to participate in the 401(k) plan; (iv) long-term disability coverage providing a monthly benefit of Twelve Thousand Twenty-Two Thousand, Five Hundred Dollars ($12,50022,500.00); and (v) a one-thousand dollar ($1,000) annual allowance for tax return preparation expenses. Executive shall provide documentation of expenses under item (v) as requested by Company.