Benefits and Other Compensation. Executive shall be entitled to receive additional benefits and compensation from the Company as follows:
(i) Twenty (20) days paid vacation in each calendar year (pro-rated for partial calendar years worked). Unused vacation shall not carry forward except to the extent expressly provided in the Company’s written policies.
(ii) Payment of such premiums (or such portion thereof as is provided by the Company’s plans) for coverage for Executive and his spouse and eligible dependents under any insurance plans that the Company may have in effect from time to time, on terms no less favorable to Executive than those generally provided to other similarly situated executives of the Company;
(iii) The Company shall allow Executive to participate in all other Company-wide employee benefits as may, from time to time, be made available generally to similarly situated executives of the Company, including the Company’s 401(k) plan;
(iv) Reimbursement for business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his duties, including without limitation, mobile phone expenses and membership fees associated with related professional associations. All reimbursable expenses shall subject to any pre-approval process established by Company policy and shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format consistent with the Company’s expense reporting policy and shall be reimbursed promptly;
(v) Executive shall be entitled to such holiday and personal days as may, from time to time, be made available generally to similarly situated executives of the Company;
(vi) The Company shall reimburse Executive an amount that shall not exceed $3,600.00 per annum for the premium paid by the Executive for a term life insurance policy that will pay a benefit on the death of Executive to one or more beneficiaries designated by the Executive from time to time, payable in quarterly installments; and
(vii) Executive shall be entitled to such other benefits as may, from time to time, be made available generally to similarly situated executives of the Company.
Benefits and Other Compensation. All Base Salary, Benefits and Other Compensation shall cease at the time of such termination, subject to the terms of any benefit or compensation plan then in force and applicable to Employee. Except as specifically set forth in this Section 9.3, the Company shall have no liability or obligation hereunder, including without limitation for any severance whatsoever, by reason of such termination.
Benefits and Other Compensation. Commencing on the Effective Date of this Agreement and during the Term of this Agreement, the Company shall provide the benefits described below.
Benefits and Other Compensation. Executive shall be entitled to receive additional benefits and compensation from the Company as follows: (i) 5 weeks paid time off (“PTO”) in each calendar year (pro-rated for partial calendar years worked); unused vacation shall carry forward, but shall not exceed 25 weeks; (ii) participate in all other Company-wide employee benefits as may, from time to time, be made available generally to any other executives of the Company, including the Company’s 401(k) plan; (iv) receive holiday and personal days off as may, from time to time, be made available generally to any other executives of the Company; and (v) such other benefits as may, from time to time, be made generally available to executive officers of the Company,
Benefits and Other Compensation. The Executive shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below:
Benefits and Other Compensation. In addition, (i) Employee shall be entitled to receive, on the date of such termination, an amount equal to (a) two (2) years' worth of Employee's base salary, and (b) 100% of the target annual bonus; and (ii) all stock options granted to Employee by Company which pursuant to the terms of the applicable option plan vest upon a "change in control" or "change of control" (as defined under that plan) shall vest, and (iii) all restrictions on restricted stock and RSUs, to the extent the Company in its sole discretion subsequently grants such securities, which pursuant to the terms of the applicable restricted stock plan lift (including as to vesting) shall be lifted. Except as specifically set forth in this Section 9G, all base salary, Benefits and Other Compensation shall cease at the time of such termination, subject to the terms of any benefit or compensation plans then in force and applicable to Employee, and the Company shall have no liability or obligation hereunder by reason of such termination.
Benefits and Other Compensation. Executive shall be entitled to receive additional benefits and compensation from the Company as follows:
(i) Payment of such premiums (or such portion thereof as is provided by the Company's plans) for coverage for Executive under health, hospitalization, dental, life and other insurance plans that the Company may have in effect from time to time, on the same terms generally provided to other executive employees in similar positions from time to time.
(ii) Reimbursement for all business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his services pursuant to this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format and manner consistent with the Company's expense reporting policy.
(iii) The Company shall provide Executive with other executive perquisites as may be available to, or deemed appropriate for, Executive by the Board and shall allow Executive to participate in all other company-wide employee benefits, including a defined contribution pension plan and 401 (k) plan, as may be made available generally to executive employees from time to time.
(iv) Executive shall be entitled to four (4) weeks of paid vacation per calendar year (pro rated for partial calendar years worked), such vacation to be taken at such times and intervals as shall be determined by Executive. Vacation shall not be cumulative.
(v) During the Term, Executive shall receive a car allowance of $1,000 per month.
Benefits and Other Compensation. During the Employment Term, Xxxx shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below:
(i) The Company shall include Xxxx as a covered insured under its Directors and Officers insurance policy and any other liability or similar insurance policies (“Insurance”), if provided to other senior executives of the Company. The Company shall provide a copy to Xxxx of its policies of Insurance, together with all amendments thereto or replacements thereof, from time to time. If this Agreement is terminated for any reason, the Company shall continue to provide such documents to Xxxx for a period of 5 years following the date of termination.
(ii) The Company shall provide Xxxx any and all other benefits of employment generally provided to other senior executive officers of the Company, which may include, for example and without limitation, health insurance, medical insurance, life insurance, disability insurance, unemployment or workers’ compensation insurance, profit sharing, 401(k), and other employee benefits.
(iii) Reimbursement for all business travel and other out-of-pocket expenses actually, reasonably and properly incurred by Xxxx in the performance of his services pursuant to this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Finn upon submission of any request for reimbursement, and in a format and manner consistent with the Company’s expense reporting policy, and shall be reimbursed no less than on a monthly basis.
(iv) An automobile allowance of $400.00 per month during the Employment Term.
(v) To the extent provided to other executive officers of the Company, the Company shall enter into an indemnification agreement with Xxxx that would provide for indemnification rights to Xxxx separate and distinct from the indemnification rights that would be provided to Xxxx pursuant to the Company’s By-Laws in effect from time to time. Nothing in this Section 3(e)(v) shall be deemed to require the Company to enter into any such agreement with Xxxx or otherwise to provide indemnification rights to Finn that are different from the other senior executive officers of the Company.
Benefits and Other Compensation. Employee shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below:
(1) Payment of premiums (or such portion thereof as is generally provided by the Company relative to its other employees) for coverage for Employee and his dependent family members under health, hospitalization, disability, dental, life and other insurance plans that the Company may have in effect from time to time.
(2) Reimbursement for all necessary business travel and other out-of-pocket expenses incurred by Employee in the performance of his services pursuant to this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Employee upon submission of any request for reimbursement, and in a format and manner consistent with the Company's expense reporting policy.
(3) The Company shall provide Employee with other benefits as may be deemed appropriate for Employee by the Board of Directors of the Company and participation in all other Company-wide employee benefits as available from time to time, including, but not limited to, 401(K), and other qualified and non-qualified plans maintained by the Company.
(4) During the term of this Agreement, Employee shall receive three (3) weeks of vacation in each full calendar year, which shall be prorated for any partial calendar years. Employee and Company shall determine the time and intervals of his vacation. Employee is also entitled to those paid holidays that are generally available to other employees of the Company. Any unused vacation days will not be carried forward into the following year, all subject to the general provisions of the employee handbook of the Company.
Benefits and Other Compensation. Executive shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below:
(i) The Company shall provide Executive with coverage under its current health, hospitalization, disability, dental, vision, life, and other insurance plans, and under its retirement and other benefit plans that the Company may have in effect from time to time on the same terms generally provided to other senior executives of the Company from time to time. In addition. the Company and: or Nexsan shall include Executive as a covered insured under its Directors and Officers insurance policy and any other liability or similar insurance policies, if provided to other senior executives of the Company or Nexsan.
(ii) In the event the Executive relocates to Southern California at the request of the Board (it being agreed between the parties that the Executive has no obligation to so relocate), the Company shall reimburse Executive for all relocation expenses actually, reasonable and properly incurred by him up to a maximum of US$50,000 and his Base Salary (and therefore the Bonus) shall be increased by 25%.
(iii) Reimbursement for all business travel and other out-of-pocket expenses actually, reasonably and properly incurred by Executive in the performance of his services pursuant to this Agreement (including Internet and telecom charges related to the Executive’s home office, which the parties acknowledge the Executive is entitled to maintain). All reimbursable expenses shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format and manner consistent with the Company’s expense reporting policy, and shall be reimbursed on a monthly basis.
