Common use of Benefits and Other Rights Clause in Contracts

Benefits and Other Rights. In consideration for Executive's performance under this Agreement, the Company shall provide to Executive the following benefits: (a) The Company will provide Executive with cash advances for or reimbursement of all reasonable out-of-pocket business expenses incurred by Executive in connection with his employment hereunder. Such reimbursement, however, is conditioned upon Executive adhering to any and all reasonable policies established by Company from time to time with respect to such reimbursements or advances, including, but not limited to, a requirement that Executive submit supporting evidence of any such expenses to the Company. (b) The Company will provide Executive and his family with the opportunity to receive group medical coverage under the terms of the Company's health insurance plan during the Term, but subject to completion of normal waiting periods. During any such waiting period, the Company will pay, or reimburse Executive for, the cost of COBRA coverage for Executive and his family under his prior health plan. The Company will provide Executive, at Company's expense, short-term disability and life insurance. (c) During the Term the Executive shall be entitled to twenty (20) days paid vacation per year, it being understood and agreed that unused vacation shall not be carried over from one year to the next. In addition, Executive shall be entitled to eight (8) paid holidays and four (4) paid personal days off.

Appears in 3 contracts

Samples: Employment Agreement (First Horizon Pharmaceutical Corp), Employment Agreement (First Horizon Pharmaceutical Corp), Employment Agreement (First Horizon Pharmaceutical Corp)

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Benefits and Other Rights. In consideration for Executive's performance under this Agreement, the Company shall provide to Executive the following benefits: (a) The Company will provide Executive with cash advances for or reimbursement of all reasonable out-of-pocket business expenses incurred by Executive in connection with his employment hereunder. Such reimbursement, however, is conditioned upon Executive adhering to any and all reasonable policies established by Company from time to time with respect to such reimbursements or advances, including, but not limited to, a requirement that Executive submit supporting evidence of any such expenses to the Company. (b) The Company will provide Executive and his family with the opportunity to receive group medical coverage under the terms of the Company's health insurance plan during the Termplan, but subject to completion of normal waiting periods. During any such waiting period, the Company will pay, or reimburse Executive for, the cost of COBRA coverage for Executive and his family under his prior health plan. The Company will provide Executive, at Company's expense, short-term disability and life insurance. (c) During the Term the Executive shall be entitled to twenty fifteen (2015) days paid vacation per year, it vacation. It being understood and agreed that unused vacation shall not be carried over from one year to the next. In addition, Executive shall be entitled to eight (8) paid holidays and four (4) paid personal days off.

Appears in 1 contract

Samples: Employment Agreement (First Horizon Pharmaceutical Corp)

Benefits and Other Rights. In consideration for Executive's ’s performance under this Agreement, the Company shall provide to Executive the following benefits: (a) The Company will provide Executive with cash advances for or reimbursement of all reasonable out-of-pocket business expenses incurred by Executive in connection with his employment hereunder. Such reimbursement, however, is conditioned upon Executive adhering to any and all reasonable policies established by Company from time to time with respect to such reimbursements or advances, advances including, but not limited to, a requirement that Executive submit supporting evidence of any such expenses to the Company. (b) The Company will provide Executive and his family with the opportunity to receive group medical coverage under the terms of the Company's ’s health insurance plan during the Termplan, but subject to completion of normal waiting periods. During any such waiting period, the Company will pay, or reimburse Executive for, the cost of COBRA coverage for Executive and his family under his prior health plan. The Company will provide Executive, at Company's expense, short-term disability and life insurance. (c) During the Term the Executive shall be entitled to twenty fifteen (2015) days paid vacation per yearvacation, it being understood and agreed that unused vacation shall not be carried over from one year to the next. In addition, Executive shall be entitled to eight (8) paid holidays and four (4) paid personal days off.

Appears in 1 contract

Samples: Employment Agreement (First Horizon Pharmaceutical Corp)

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Benefits and Other Rights. In consideration for Executive's ’s performance under this Agreement, the Company shall provide to Executive the following benefits: (a) The Company will provide Executive with cash advances for or reimbursement of all reasonable out-of-pocket business expenses incurred by Executive in connection with his employment hereunder. Such reimbursement, however, is conditioned upon Executive adhering to any and all reasonable policies established by Company from time to time with respect to such reimbursements or advances, advances including, but not limited to, a requirement that Executive submit supporting evidence of any such expenses to the Company. (b) The Company will provide Executive and his family with the opportunity to receive group medical coverage under the terms of the Company's ’s health insurance plan during the Termplan, but subject to completion of normal waiting periods. During any such waiting period, the Company will pay, or reimburse Executive for, the cost of COBRA coverage for Executive and his family under his prior health plan. The Company will provide Executive, at Company's expense, short-term disability and life insurance. (c) During the Term the Executive shall be entitled to twenty (20) days paid vacation per yearvacation, it being understood and agreed that unused vacation shall not be carried over from one year to the next. In addition, Executive shall be entitled to eight (8) paid holidays and four (4) paid personal days off.

Appears in 1 contract

Samples: Employment Agreement (First Horizon Pharmaceutical Corp)

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