Common use of Employee Benefit Programs and Fringe Benefits Clause in Contracts

Employee Benefit Programs and Fringe Benefits. During the Term of Employment, Executive will be eligible to participate in all executive incentive and employee benefit programs of the Company made available to the Company’s senior level executives generally, as such programs may be in effect from time to time; provided that nothing herein shall prevent the Company from amending or terminating any such programs pursuant to the terms thereof (except to the extent the amendment or termination would prevent the Company from satisfying its obligations under Sections 3(a), 3(b) and 4). The REIT Operator will reimburse Executive for any and all necessary, customary and usual business expenses incurred and paid by Executive in connection with his employment upon presentation to the Company of reasonable substantiation and documentation, and in accordance with, and subject to the terms and conditions of, applicable Company policies. During the Term, Executive shall be entitled to paid vacation and, if applicable paid time off, per year of the Term (as pro-rated for any stub employment period) in accordance with the Company’s policy on accrual and use applicable to employees as in effect from time to time, but in no event shall Executive accrue less than four (4) weeks of vacation per calendar year (pro-rated for any stub employment period).

Appears in 16 contracts

Samples: Employment Agreement (Bluerock Residential Growth REIT, Inc.), Employment Agreement (Bluerock Residential Growth REIT, Inc.), Employment Agreement (Bluerock Residential Growth REIT, Inc.)

AutoNDA by SimpleDocs

Employee Benefit Programs and Fringe Benefits. During the Term of Employment, Executive will be eligible to participate in all executive incentive and employee benefit programs of the Company made available to the Company’s senior level executives generally, as such programs may be in effect from time to time; provided provided, that nothing herein shall prevent the Company from amending or terminating any such programs pursuant to the terms thereof (except to the extent the thereof; provided, that, such amendment or termination would prevent the Company from satisfying its obligations under Sections 3(a), 3(b) and 4)shall not discriminate against Executive. The REIT Operator will reimburse Executive for any and all necessary, customary and usual business expenses incurred and paid by Executive in connection with his Executive’s employment upon presentation to the Company of reasonable substantiation and documentation, and in accordance with, and subject to the terms and conditions of, applicable Company policies. During the Term, Executive shall be entitled to paid vacation and, if applicable paid time off, per year of the Term (as pro-rated prorated for any stub employment period) in accordance with the Company’s policy on accrual and use applicable to employees as in effect from time to time, but in no event shall Executive accrue less than four five (45) weeks of vacation per calendar year (pro-rated for any stub employment period).

Appears in 4 contracts

Samples: Employment Agreement (Broadstone Net Lease, Inc.), Employment Agreement (Broadstone Net Lease, Inc.), Employment Agreement (Broadstone Net Lease, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!