Common use of Compensation/Benefit Programs Clause in Contracts

Compensation/Benefit Programs. During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans. The Company shall provide the Executive with a permanent policy of life insurance on her life: (i) which provides a death benefit of at least three (3) times her base salary in effect on the Commencement Date; and (ii) the beneficiary and ownership shall be designated by Executive.