Common use of Benefits and Other Compensation Clause in Contracts

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.

Appears in 3 contracts

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc), Executive Employment Agreement (Ani Pharmaceuticals Inc), Executive Employment Agreement (Ani Pharmaceuticals Inc)

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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 under health, hospitalization, disability, dental, life and his spouse and eligible dependents under any other insurance plans that the Company may have in effect from time to time, on the same 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, executive employees from time to time, be made together with enhanced long term disability and term life insurance on substantially the same terms as in effect under the plans covering Executive and maintained by ACN on the date hereof (so long as such terms are available generally to similarly situated executives of the Company, including the Company’s 401(k) plan;without unreasonable increase in cost). (ivii) Reimbursement for all 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 associationsservices pursuant to this Agreement. 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 and manner consistent with the Company’s 's expense reporting policy policy. (iii) The Company shall provide Executive with other executive perquisites as maybe 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 reimbursed promptly;made available generally to executive employees from time to time. (viv) Executive shall be entitled to five (5) weeks of paid vacation per calendar year (pro rated for partial calendar years worked), such holiday vacation to be taken at such times and personal days intervals as may, from time to time, shall be made available generally to similarly situated executives of the Company; (vi) The Company shall reimburse Executive an amount that determined by Executive. Vacation 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 timebe cumulative. In addition, payable in quarterly installments; and (vii) Executive shall be entitled to such other benefits sick pay and personal days (e.g., bereavement, jury duty, etc.), if any, as may, may be made generally available to Company employees from time to time. (v) During the Term, be made available generally to similarly situated executives Executive shall receive a car allowance of the Company$1,000 per month.

Appears in 2 contracts

Samples: Employment Agreement (Courtside Acquisition Corp), Employment Agreement (Courtside Acquisition Corp)

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 employees 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 any other 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 be 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 any other executives of the Company; (vi) The Following each year of employment during the Term, the Company shall reimburse Executive an amount that shall not exceed Executive, up to a maximum of three thousand dollars ($3,600.00 3,000.00) per annum annum, for the annual 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 generally available generally to similarly situated executives executive officers of the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

Benefits and Other Compensation. Executive shall be entitled to receive additional benefits and compensation from the Company as follows:: ​ (i) Sign-on Bonus on the first payroll date after Commencement Date, at a gross value of twenty-five thousand dollar ($25,000), less all required tax withholdings and other applicable deductions, in accordance with the Company’s standard payroll procedures. Executive shall be required to pay back the Sign-on Bonus to Company if she Terminates without Good Reason or if the Company Terminates her employment with Good Reason, on or prior to December 31, 2022; ​ (ii) 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.; ​ (iiiii) Payment of such premiums (or such portion thereof as is provided by the Company’s plans) for coverage for Executive and his her 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 employees of the Company;; ​ (iiiiv) 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 any other executives of the Company, including the Company’s 401(k) plan;; ​ (ivv) Reimbursement for business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his her duties, including without limitation, mobile phone expenses and membership fees associated with related professional associations. All reimbursable expenses shall be 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;; ​ (vvi) Executive shall be entitled to such holiday and personal days as may, from time to time, be made available generally to similarly situated any other executives of the Company;; ​ (vivii) The Following each year of employment during the Term, the Company shall reimburse Executive an amount that shall not exceed Executive, up to a maximum of three thousand dollars ​ ​ ​ ​ ​ ($3,600.00 3,000.00) per annum annum, for the annual 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; andand ​ (viiviii) Executive shall be entitled to such other benefits as may, from time to time, be made generally available generally to similarly situated executives executive officers of the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

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 employees 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 any other 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, and for lodging, travel and meals incident to his work at the Designated Work Location. All reimbursable expenses shall be 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 any other executives of the Company;; ​ ​ (vi) The Following each year of employment during the Term, the Company shall reimburse Executive an amount that shall not exceed Executive, up to a maximum of three thousand dollars ($3,600.00 3,000.00) per annum annum, for the annual 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 generally available generally to similarly situated executives executive officers of the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

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 6,000.00 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; (vii) The Company will provide Executive with an automobile allowance of $833.33 on a monthly basis. Executive shall be solely responsible for automobile insurance and the costs associated with gasoline, repairs and maintenance for his automobile. The Company shall not be responsible for any reimbursement to Executive in respect of the miles that Executive travels in his automobile for business or otherwise; and (viiviii) 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.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

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 employees 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 any other 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 be 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 any other executives of the Company; (vi) The Following each year of employment during the Term, the Company shall reimburse Executive an amount that shall not exceed Executive, up to a maximum of three thousand dollars ($3,600.00 3,000.00) per annum annum, for the annual 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 generally available generally to similarly situated executives executive officers of ​ ​ the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

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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 employees 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 any other executives of the Company, including the Company’s 401(k) plan; (iv) Reimbursement for business travel, including, without limitation, Executive’s quarterly business travel to India to the extent (and only to the extent) attributable to Company business, 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 be 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 any other executives of the Company; (vi) The Following each year of employment during the Term, the Company shall reimburse Executive an amount that shall not exceed Executive, up to a maximum of three thousand dollars ($3,600.00 3,000.00) per annum annum, for the annual 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 generally available generally to similarly situated executives executive officers of the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

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 any 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 any other 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 be 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 any other executives of the Company; (vi) The Following each year of employment during the Term, the Company shall reimburse Executive an amount that shall not exceed Executive, up to a maximum of $3,600.00 6,000.00 per annum annum, for the annual 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 generally available generally to similarly situated executives executive officers of the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.

Appears in 1 contract

Samples: Executive Employment Agreement (Ani Pharmaceuticals Inc)

Benefits and Other Compensation. Executive shall be entitled to receive additional benefits and compensation from the Company Employer in such form and to such extent as followsspecified below: (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 all business travel and other out-of-pocket expenses expenses, reasonably incurred by Executive in the performance of his dutiesExecutive’s duties pursuant to this Agreement provided such expenses are consistent with Employer’s travel and expense reimbursement policy, 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 consistent with Employer’s expense reporting policy. (ii) Vacation, holidays and sick days in accordance with Employer’s Employee Handbook, a copy of which is delivered herewith by Employer to Executive. Employer reserves the right to amend, modify or delete any provision of the Employee Handbook at any time. Executive will receive four (4) weeks paid vacation annually. The Employee Handbook is not a contract of employment between Employer and Executive or any part thereof, but is a current statement of Employer’s policies and procedures with respect to the matters set forth therein. (iii) Participation in Employer-sponsored benefit plans, such as health, pension, short-term disability and life insurance, etc., per plan requirements, as and when implemented by Employer. Summary Plan Descriptions of Employer’s existing retirement plans, life insurance program, disability insurance program and employee health insurance program have heretofore been delivered to Executive. Employer reserves the right to amend any of such plans at any time, including the termination of any request and all of such plans, for reimbursementany reason, and in a format consistent such event, Executive shall have only such rights with the Company’s expense reporting policy and shall be reimbursed promptly;respect thereto as are required by law or provided by Employer for all similarly situated employees of Employer. (viv) Executive shall be entitled to such holiday and personal days as may, from time to time, be made available generally to similarly situated executives Auto allowance of the Company; Twelve Thousand Dollars (vi$12,000) 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 timeyear, payable in quarterly installments; and (vii) Executive shall be entitled to such other benefits as mayequal bi-weekly installments with the payment of Executive’s regular base salary, from time to timefor reimbursement of all automobile related expenses, be made available generally to similarly situated executives of the Companyincluding lease payments, oil, maintenance and repair.

Appears in 1 contract

Samples: Employment Agreement (Clark Holdings Inc.)

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