Benefits; Expense Reimbursement. (a) During the Term, Employee shall participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company in effect during the Term and generally available to the Company’s senior executive officers. Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-leave vacation the Company shall reimburse Employee for round-trip economy-class air fare for Employee and Employee’s spouse from Beijing to Employee’s home in the United States. In addition, during the Term, Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Employee shall also be provided a housing allowance of five thousand dollars ($5,000) per month in connection with Employee’s residence outside the United States. Payment or reimbursement of each of the business expenses, air fare, automobile, and housing benefits provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is incurred. (b) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
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Benefits; Expense Reimbursement. (a) During the Term, Employee shall participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company in effect during the Term and generally available to the Company’s senior executive officers. Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-leave vacation the Company shall reimburse Employee for round-trip economy-class air fare for Employee each of Employee, Employee’s spouse and Employee’s spouse dependent children from Beijing to Employee’s home in the United States. In addition, during for each calendar year of the Term, Employee shall be reimbursed for the tuition costs paid by Employee for Employee’s dependent children, if any, attending primary or secondary schools, provided, however, that such reimbursement shall not exceed ninety thousand dollars ($90,000) per calendar year. During the Term, Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Term, Employee shall also be provided a housing allowance of five thousand dollars ($5,000) per month in connection with Employee’s residence outside the United States. Payment or reimbursement of each of the business expenses, air fare, tuition, automobile, and housing benefits provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is incurred.
(b) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
Appears in 1 contract
Benefits; Expense Reimbursement. (a) During the Term, Employee shall participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company in effect during the Term and generally available to the Company’s senior executive officers. Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-leave vacation If Employee is requested by the Company to move to China and agrees to do so, the Company shall thenceforth reimburse Employee for round-trip economy-class air fare for Employee each of Employee, Employee’s spouse and Employee’s spouse dependent children from Beijing to Employee’s home in the United StatesStates in connection with such vacation. In addition, during for each calendar year of the Term, Employee shall be reimbursed for the tuition costs paid by Employee for Employee’s dependent children, if any, attending primary or secondary schools, provided, however, that such reimbursement shall not exceed ninety thousand dollars ($90,000) per calendar year. During the Term, Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Term, Employee shall also be provided a housing an allowance of five thousand dollars ($5,000) per month in connection with Employee’s residence outside maintenance of a remote office facility in the United States. Payment or reimbursement of each of the business expenses, air farefare (if applicable), tuition, automobile, and housing remote office facility benefits provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing remote office facility allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is incurred.
(b) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
Appears in 1 contract
Benefits; Expense Reimbursement. (a) During the Term, Employee shall participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company in effect during the Term and generally available to the Company’s senior executive officers. Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-leave vacation If Employee is requested by the Company to move to China and agrees to do so, the Company shall thenceforth reimburse Employee for round-trip economy-class air fare for Employee Employee, Employee’s spouse and Employee’s spouse dependent children from Beijing to Employee’s home in the United StatesStates in connection with such vacation. In addition, during in each year of the Term, Employee shall be reimbursed for the tuition costs paid by Employee for Employee’s dependent children, if any, attending primary or secondary schools, provided, however, that such reimbursement shall not exceed ninety thousand dollars ($90,000) per year. Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Employee shall also annually be provided a housing an allowance of five thousand dollars ($5,000) per month in connection with Employee’s residence outside maintenance of a remote office facility in the United States. Payment or reimbursement of each of the business expenses, air fare, automobile, and housing benefits provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is incurred.
(b) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts benefits payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
Appears in 1 contract
Benefits; Expense Reimbursement. (a) During Employee shall be eligible to participate in the Company’s group health, sickness and hospitalization insurance during the Term and following Employee’s termination of employment with the Company (no matter the reason) for the life of Employee, subject to the terms and conditions of such plans. In addition, during the Term, Employee shall be eligible to participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company (including without limitation any group life and accident insurances) in effect during the Term Term, as may be amended from time to time, and generally available to the Company’s senior executive officers. , subject to the terms and conditions of such plans.
(b) Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s the Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-home leave vacation vacation, the Company shall reimburse Employee for round-trip economy-economy class air fare for Employee each of Employee, Employee’s spouse and Employee’s spouse dependent children from Beijing to Employee’s home in the United States. In addition, during During the Term, Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Term, Employee shall also be provided provided, via direct payment or reimbursement to Employee at her discretion, a housing special allowance of five ten thousand dollars ($5,00010,000) per month in connection with month, which is intended to cover Employee’s residence outside additional expenses related to family airfare, travel, housing, club memberships, professional society memberships, professional education fees and similar expenses which are not otherwise reimbursable business expenses (the United States“Special Allowance”). Payment or reimbursement of each of the business expenses, air fare, automobile, benefits and housing benefits expenses provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing allowance Special Allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is the relevant expenses are incurred.
(bc) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
Appears in 1 contract
Benefits; Expense Reimbursement. (a) During the Term, Employee shall participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company in effect during the Term and generally available to the Company’s senior executive officers. Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-leave vacation the Company shall reimburse Employee for round-trip economy-class air fare for Employee and Employee’s spouse from Beijing to Employee’s home in the United States. In addition, during in each year of the Term, Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Employee shall also annually be provided a housing allowance of five thousand dollars ($5,000) per month in connection with Employee’s residence outside the United States. Payment or reimbursement of each of the business expenses, air fare, automobile, and housing benefits provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is incurred.
(b) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts benefits payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
Appears in 1 contract
Benefits; Expense Reimbursement. (a) During the Term, Employee shall participate in any group life, accident, sickness and hospitalization insurance, and any other employee benefit plans of the Company in effect during the Term and generally available to the Company’s senior executive officers. Without limiting the generality of the foregoing, during the Term, the Company will provide Employee at its expense with a life insurance policy with a death benefit equal to three (3) times Employee’s Annual Salary, the beneficiary to be named by Employee. Employee shall have the right to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Employee in the course of Employee’s duties hereunder. In addition, during each calendar year of the Term, Employee shall be entitled to no less than five (5) weeks of paid home-leave vacation. In connection with such home-leave vacation the Company shall reimburse Employee for round-trip economy-class air fare for Employee Employee, Employee’s spouse and Employee’s spouse dependent children from Beijing to Employee’s home in the United States. In addition, during in each year of the Term, Employee shall be reimbursed for the tuition costs paid by Employee for Employee’s dependent children, if any, attending primary or secondary schools, provided, however, that such reimbursement shall not exceed ninety thousand dollars ($90,000) per year. Employee shall be entitled to the use of a Company-owned automobile or an allowance to reimburse Employee for Employee’s costs associated with the use of a personal automobile. During the Term Employee shall also annually be provided a housing allowance of five thousand dollars ($5,000) per month in connection with Employee’s residence outside the United States. Payment or reimbursement of each of the business expenses, air fare, automobile, and housing benefits provided for in this paragraph with respect to any calendar year shall not affect the amount of benefits payable or expenses eligible for reimbursement in any other calendar year, and such benefits and reimbursements may not be exchanged for cash or another benefit. Payment of the housing allowance and reimbursement for any of the expenses referred to in this paragraph shall be made no later than the March 15 of the calendar year following the calendar year in which such expense is incurred.
(b) Employee acknowledges that some or all of these benefits may be deemed compensation to Employee and that the Company may withhold from any amounts benefits payable to Employee all federal, state, local and/or other taxes and amounts as shall be required pursuant to law, rule or regulation.
Appears in 1 contract