Common use of Benefits and Vacations Clause in Contracts

Benefits and Vacations. (a) Executive shall be entitled to participate in or receive benefits under the life, health and disability insurance plans or arrangements of an operating subsidiary of the Company as in effect on the date hereof for such period of time as such plans and arrangements shall remain in effect. In addition, Executive shall be entitled to participate in or receive benefits under any pension plan, profit-sharing plan, life insurance, health-and-accident plan or arrangement made available in the future by the Company or its subsidiaries to its executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. Nothing paid to Executive under any such plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of any compensation payable to Executive hereunder.

Benefits and Vacations. (a) Executive and his dependents shall be entitled to participate in or receive benefits under the life, Employer's health and disability insurance plans or arrangements of an operating subsidiary of the Company as in effect on the date hereof for such period of time as such plans and arrangements shall remain in effect. In addition, Executive shall be entitled to participate in or receive benefits under any pension plan, profit-profit- sharing plan, life insurance, health-and-accident plan or arrangement made available in the future by the Company or its subsidiaries Employer to its executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. Nothing paid to Executive under any such plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of any compensation payable to Executive hereunder.