BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period:
(a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine provided, however, that an annual bonus plan shall be prepared which will make a bonus of thirty three and one third percent (33 1/3%) of Base Salary payable if all bonus plan criteria are met;
(b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular;
(c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time;
(d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility;
(e) At the option of Executive each year either (1) use of a current model Company vehicle comparable to a fully equipped Cadillac, plus reimbursement of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an automobile allowance of $1,700.00 per month;
BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period:
(a) Bonuses, when payable, based upon and subject to such terms and conditions as determined annually under the Dailxx Incentive Compensation Plan.
(b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular;
(c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time;
(d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility;
(e) At the option of Executive each year either (1) use of a current model Company vehicle comparable to a fully equipped Cadillac, plus reimbursement of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an automobile allowance of $1,700.00 per month;
(f) Use of a Company paid full membership in a local area country club of the Executive's choice, and
(g) Reimbursement of the reasonable costs of tuition, books and travel incurred for Executive's continuing education in general business or continuing professional education. For each fiscal year during the Employment Period the reimbursement shall not exceed ten percent of Executive's annual base compensation as set forth in Section 2.1.
BONUSES AND BENEFITS. The Employee shall not receive any bonuses or any other compensation for services rendered under this Agreement, unless approved by the Board of Directors and any relevant Board Committee(s). The Employee has agreed to waive the right to participate in any employee benefit plan of the Employer (to the extent possible without causing any plan that is intended to qualify under any provision of the Internal Revenue Code to fail to qualify or to become disqualified). The Employee hereby acknowledges that his waiver is knowing and voluntary, and is an integral part of the compensation package negotiated by the Employee with the Employer and contained in this Agreement.
BONUSES AND BENEFITS. In addition to the Base Salary described above, Employer shall provide Employee with the following during the Employment Period:
(a) bonuses, when and based upon or subject to such terms and conditions as Employer's Board of Directors, in its sole and absolute discretion, may determine; provided, however, a bonus plan , as mutually agreed upon by the parties, shall be prepared which will make a bonus of thirty-three and one third percent (33 1/3%) of base compensation payable at the completion of the first year of this Agreement if all bonus plan criteria are met;
(b) participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Employer's employees generally or its operating officers in
(c) payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Employer's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Employer's policies and procedures on employee expense payment or reimbursement in effect from time to time.
(d) a monthly car allowance of One Thousand Two Hundred Dollars Canadian ($1,200.00 CDN);
(e) Employer shall pay for Employee's membership at the Derrxxx Xxxf Club, the Edmonton Petroleum club and the Desert Falls County Club;
(f) to the extent that Employer maintains a condominium in Palm Springs, California for customer entertainment, Employee shall be entitled to use said condominium for such purpose if said condominium is available; and
(g) as separate consideration to Employee for entering into the covenants and restrictions set forth in Article 4, Employer agrees to pay Employee, on the Effective Date, a signing bonus in the amount of Ten Thousand Dollars U.S. ($10,000.00 U.S.). Employee acknowledges the adequacy of the consideration received.
BONUSES AND BENEFITS. In addition to the Base Salary, Expatriate Benefits, and stock grant and option described above, Company shall provide Executive with the following during the Employment Period:
(a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine;
(b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular;
(c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time;
(d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility;
(e) Use of a Company paid full membership in a local area country club and/or health club of the Executive's choice;
(f) Reimbursement of the reasonable costs of tuition, books and travel incurred for Executive's continuing education in general business or continuing professional education. For each fiscal year during the Employment Period the reimbursement shall not exceed ten percent of Executive's annual base compensation as set forth in Section 2.1; and
BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period:
(a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine;
BONUSES AND BENEFITS. (a) Until February 28, 1999, Executive will be entitled to continue to receive and Sovereign or the Company shall provide all health, insurance and disability plans and programs, if any, required to be provided by the Company to Executive under the Employment Agreement. If Executive so desires, Executive will receive COBRA coverage after such time period at Executive's expense.
(b) Executive will also be entitled to outplacement services at the Company's expense from Manchester Associates for a period of one year (an aggregate cost of $12,000).
BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period:
(a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine;
(b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular;
(c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with
(d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility;
(e) An automobile allowance of One Thousand Five Hundred Dollars ($1,500) per month and the use of a PHH card for oil, gasoline and maintenance;
(f) Use of a Company paid full membership in a local area country club of the Executive's choice; and
(g) Reimbursement of the reasonable costs of tuition, books, tapes and travel incurred for Executive's continuing education in general business or continuing professional education. For each fiscal year during the Employment Period the reimbursement shall not exceed ten percent of Executive's annual base compensation as set forth in Section 2.1.
BONUSES AND BENEFITS. (a) Until August 31, 1999, Executive will be entitled to continue to receive and Sovereign or the Company shall provide all health, insurance and disability plans and programs, if any, required to be provided by the Company to Executive under the Employment Agreement. If Executive so desires, Executive will receive COBRA coverage after such time period at Executive's expense.
(b) [EXECUTIVE WILL ALSO BE ENTITLED TO OUTPLACEMENT SERVICES AT THE COMPANY'S EXPENSE FROM MANCHESTER ASSOCIATES FOR A PERIOD OF ONE YEAR (AN AGGREGATE COST OF $12,000).[IS THIS APPLICABLE??]
BONUSES AND BENEFITS. (a) Executive will be entitled to continue to receive and Sovereign or the Company shall provide all health, insurance and disability plans and programs, if any, required to be provided by the Company to Executive as set forth in the attached letter from Karex Xxxxxxx. Xf Executive so desires, Executive will receive COBRA coverage after such time period at Executive's expense.
(b) Executive will also be entitled to outplacement services at the Company's expense from Manchester Associates for a period of one year (an aggregate cost of $12,000).
