Common use of Changes to Employee Benefit Plans Clause in Contracts

Changes to Employee Benefit Plans. Nothing in this Agreement shall prevent the Board of Directors of the Company from changing, modifying, amending or terminating the employee benefit plans of the Company so as to eliminate, reduce or otherwise change any benefit payable under this Agreement. Executive agrees to submit regular reports of personal use of the employee benefits as may be required under the Internal Revenue Code of 1986 to be treated as taxable income to Executive in order to allow the Company to determine the amount which must be reported to the Internal Revenue Service as compensation to Executive.