Common use of Benefit Plans and Vacation Clause in Contracts

Benefit Plans and Vacation. Subject to the terms of such Plans, throughout his employment under this Agreement, Executive shall be entitled to participate in any and all employee benefits plans or programs of the Company to the extent that he is otherwise eligible to participate under the terms of those plans, including participation in any welfare benefit programs provided by the Company (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance programs), and fringe benefits and perquisites available generally to Divisional Presidents of the Company , including the provision of a company car or car allowance.. The Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any benefit plan, or perquisite, so long as such changes are similarly applicable to other Divisional Presidents of the Company. During the Employment Term, executive shall be entitled to life insurance equal to three (3) times his Base Salary. The executive shall also be entitled to a car allowance in accordance with the Company’s Vehicle Policy During the Employment Term, Executive shall be entitled to four (4) weeks paid vacation each calendar year in accordance with the Company’s policies in effect from time to time, provided the four (4) of weeks of vacation provided in this paragraph shall not be reduced under such policies.

Appears in 1 contract

Samples: Ancillary Agreement (Newpark Resources Inc)

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Benefit Plans and Vacation. Subject to the terms of such Plans, throughout his employment under this Agreement, Executive shall be entitled to participate in any and all employee benefits plans or programs of the Company to the extent that he is otherwise eligible to participate under the terms of those plans, including participation in any welfare benefit programs provided by the Company (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance programs), and fringe benefits and perquisites available generally to Divisional Presidents Executive Officers of the Company , including the provision of a company car or car allowance.. . The Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any benefit plan, or perquisite, so long as such changes are similarly applicable to other Divisional Presidents Executive Officers of the Company. During the Employment Term, executive Executive shall be entitled to life insurance equal to three (3) times his Base Salary. The executive Executive shall also be entitled to a car allowance in the amount of One Thousand Three Hundred Dollars ($1,300.00) per month in accordance with the Company’s Vehicle Policy Policy. During the Employment Term, but beginning on April 22, 2016 Executive shall be entitled to four (4) weeks paid vacation each calendar year in accordance with the Company’s policies in effect from time to time, provided the four (4) of weeks of vacation provided in this paragraph shall not be reduced under such policies.

Appears in 1 contract

Samples: Non Competition Agreement (Newpark Resources Inc)

Benefit Plans and Vacation. Subject to the terms of such Plans, throughout his Throughout Executive’s employment under this Agreement, Executive shall be entitled to participate in any and all employee benefits plans or programs of the Company to the extent that he is otherwise eligible to participate under the terms of those plans, including participation in any welfare benefit programs provided by the Company (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance programs), and fringe benefits and perquisites available generally to Divisional Presidents Executive Officers of the Company , including the provision of a company car or car allowance.. Company. The Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any benefit plan, or perquisite, so long as such changes are similarly applicable to other Divisional Presidents Executive Officers of the Company. During the Employment Term, executive Executive shall be entitled to life insurance equal to the greater of $500,000 or, subject to evidence of insurability to the satisfaction of the Company's group life insurance provider, three (3) times his Base Salary. The executive Executive shall also be entitled to a car allowance in the amount of One Thousand Three Hundred Dollars ($1,300.00) per month in accordance with the Company’s Vehicle Policy Policy. During the Employment Term, Executive shall be entitled to four (4) weeks paid vacation each calendar year in accordance with the Company’s policies in effect from time to time, provided the four (4) of weeks of vacation provided in this paragraph Section 1.2(e) shall not be reduced under such policies.

Appears in 1 contract

Samples: Employment Agreement (Newpark Resources Inc)

Benefit Plans and Vacation. Subject to the terms of such Plans, throughout his employment under this Agreement, Executive shall be entitled to participate in any and all employee benefits plans or programs of the Company to the extent that he is otherwise eligible to participate under the terms of those plans, including participation in any welfare benefit programs provided by the Company (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance programs), and fringe benefits and perquisites available generally to Divisional Presidents Executive Officers of the Company , including the provision of a company car or car allowance.. . The Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any benefit plan, or perquisite, so long as such changes are similarly applicable to other Divisional Presidents Executive Officers of the Company. During the Employment Term, executive Executive shall be entitled to life insurance equal to three (3) times his Base Salary. The executive Executive shall also be entitled to a car allowance in the amount of One Thousand Three Hundred Dollars ($1,300.00) per month in accordance with the Company’s Vehicle Policy Policy. During the Employment Term, but beginning on January 1, 2011 Executive shall be entitled to four (4) weeks paid vacation each calendar year in accordance with the Company’s policies in effect from time to time, provided the four (4) of weeks of vacation provided in this paragraph shall not be reduced under such policies.

Appears in 1 contract

Samples: Confidentiality and Non Competition Agreement (Newpark Resources Inc)

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Benefit Plans and Vacation. Subject to the terms of such Plans, throughout his her employment under this Agreement, Executive shall be entitled to participate in any and all employee benefits plans or programs of the Company to the extent that he she is otherwise eligible to participate under the terms of those plans, including participation in any welfare benefit programs provided by the Company (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance programs), and fringe benefits and perquisites available generally to Divisional Presidents Executive Officers of the Company , including the provision of a company car or car allowance.. . The Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any benefit plan, or perquisite, so long as such changes are similarly applicable to other Divisional Presidents Executive Officers of the Company. During the Employment Term, executive Executive shall be entitled to life insurance equal to three (3) times his her Base Salary. The executive Executive shall also be entitled to a car allowance in the amount of One Thousand Three Hundred Dollars ($1,300.00) per month in accordance with the Company’s Vehicle Policy Policy. During the Employment Term, but beginning on January 1, 2012 Executive shall be entitled to four (4) weeks paid vacation each calendar year in accordance with the Company’s policies in effect from time to time, provided the four (4) of weeks of vacation provided in this paragraph shall not be reduced under such policies.

Appears in 1 contract

Samples: Non Competition Agreement (Newpark Resources Inc)

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