Employee Benefits Business Expenses. During the Term, Executive shall participate in any retirement, group insurance, hospitalization, incentive or deferred compensation and other benefit or compensation plans of the Bank presently in effect or hereafter adopted and generally available to all of the Company’s senior officers, subject to the terms and conditions specified in such plans. Executive shall also be entitled to any additional compensation, benefits or perquisites, if any, that may be provided specifically to or for Executive by Company or the Bank from time to time. During the Term, to the extent provided by corporate policies, Executive shall be reimbursed for expenditures (including travel, entertainment, parking and business meetings) made in pursuance and furtherance of the business and good will of Company.
Employee Benefits Business Expenses. You will continue to be eligible to participate in the Company’s standard employee benefit plans, pursuant to the terms, conditions and limitations of the benefit plans. In addition, you will continue to be eligible for reimbursement of your reasonable business expenses incurred in connection with your employment, including but not limited to reasonable lodging and travel expenses, in accordance with the Company’s business expense reimbursement policies and practices. Xxxxx Xxxxxxx March 4, 2004
Employee Benefits Business Expenses. You shall be entitled to participate in all employee benefit plans and programs offered by the Company to its senior management from time to time in effect, including reimbursement for parking in an amount not to exceed $500 per month, 401(k) plans and group insurance plans such as life, disability, health, medical and dental, subject to the provisions of such plans and programs from time to time in effect. You shall be entitled to four (4) weeks of paid vacation each year, accrued monthly. Unused vacation days at the end of a calendar year will not be accrued or rolled forward into subsequent years. The Company will reimburse you for all customary and reasonable travel and business expenses incurred by you in the performance of your duties according to normal corporate policy and agreed-upon budgets.
Employee Benefits Business Expenses. During the Employment Term, Executive shall be entitled to participate in the Company’s employee benefit plans as in effect from time to time (collectively “Employee Benefits”), on the same basis as those benefits are generally made available to other senior executives of the Company, in each case to the extent that Executive is eligible under the terms of such plans or programs. During the Employment Term, reasonable business expenses incurred by Executive in the performance of Executive’s duties hereunder shall be advanced or promptly reimbursed by the Company in accordance with Company policies.
Employee Benefits Business Expenses. You shall be entitled to participate in all employee benefit plans and programs offered by the Company to its senior management from time to time in effect, including, but not limited to, 401(k) plans and group insurance plans such as life, disability, health, medical and dental, subject to the provisions of such plans and programs from time to time in effect. You shall be entitled to four (4) weeks of paid vacation each year, accrued monthly (including the time under the Consulting Agreement). Unused vacation days at the end of a calendar year will not be accrued or rolled forward into subsequent years. The Company will reimburse you for all customary and reasonable travel and business expenses incurred by you in the performance of your duties according to normal corporate policy and agreed-upon budgets. In addition to aforementioned reimbursable expenses you shall receive a monthly payment in the amount of $9,000, payable at the beginning of each month for the term of this Agreement to help defray your cost of living in the City of New York, and such payment shall be subject to required withholding of appropriate taxes.
Employee Benefits Business Expenses. During the Employment Term, Executive shall be entitled to participate in the Company’s employee benefit plans as in effect from time to time (collectively “Employee Benefits”), on the same basis as those benefits are generally made available to other senior executives of the Company who work in the same principal office as Executive, in each case to the extent that Executive is eligible under the terms of such plans or programs; provided, however, the Company shall not, by reason of the foregoing sentence, be obligated to institute, maintain, or refrain from changing, amending, or discontinuing, any such plan or policy, so long as such changes are similarly applicable to similarly situated Company senior executives generally. Subject to Section 12(i), during the Employment Term, reasonable business expenses incurred by Executive in the performance of Executive’s duties hereunder shall be advanced or reimbursed by the Company in accordance with Company policies.
Employee Benefits Business Expenses a. During the Employment Term:
(i) Executive shall be entitled to participate in HCA’s pension and welfare benefit, deferred compensation, and perquisite plans as in effect from time to time for senior executives of HCA other than as provided in Section 5(a)(ii) below (such plans and benefits in which he shall participate, collectively “Employee Benefits”). The full amount of such accrued benefits shall be paid to Executive under the terms of the relevant plan and any elections properly filed thereunder based on the actual date of Executive’s separation from service.
(ii) Executive’s earned benefit pursuant to the HCA Supplemental Executive Retirement Plan, as amended (the “SERP”), shall be frozen effective as of the close of business on December 31, 2013 (the “Freeze Date”). In order to effect such freeze:
(A) For clarity, the amount determined under Section 3.1(a)(i) or 3.1(b)(i) of the SERP, as applicable, will be determined based on the Executive’s Years of Service and Pay Average (each as defined in the SERP) as of the Freeze Date, and will not increase based on service completed or Compensation (as defined in the SERP) earned by the Executive after such date. In addition, the offset amount determined under Section 3.1(a)(ii) or 3.1(b)(ii) of the SERP, as applicable, will be the life annuity amount calculated as of the Freeze Date, produced by the sum of the employer-provided amount for the Executive of (1) the Executive’s accrued benefits under the Qualified Plans as of the Freeze Date, (2) the Executive’s Qualified Plans’ Distribution Amount as of the Freeze Date, (3) the Executive’s accrued benefit under the Nonqualified Plan as of the Freeze Date, and (4) the Executive’s Nonqualified Plan Distribution Amount as of the Freeze Date, utilizing the Actuarial Factors to convert any such benefit or amount to a life annuity (each capitalized term referred to in this sentence and not otherwise defined herein, as defined in the SERP). The Executive’s Benefit (as defined in the SERP) will be payable in the form of a single lump-sum payment that is the actuarial equivalent of the Benefit determined under the preceding provisions of this Section 5(a)(ii) calculated using the Actuarial Factors;
(B) Notwithstanding anything in the SERP to the contrary, and subject to Section 5.1(b) of the SERP, the survivor benefit payable to the Executive’s surviving spouse under Section 5.1(a) of the SERP shall be a single lump-sum payment equal to the Executive’s lump-sum Be...
Employee Benefits Business Expenses. You shall be eligible to participate in the Company’s employee benefit plans, and receive the employee benefits, fringe benefits, and perquisites available thereunder in accordance with the terms of such employee benefit plans as in effect and as may be amended from time to time. The Company shall reimburse you for all expenses that you reasonably incur during your employment with the Company in the performance of your duties hereunder, in accordance with the Company’s expense reimbursement policies as in effect from time to time.
Employee Benefits Business Expenses a. During the Term:
(i) Executive shall be entitled to participate in HCA’s pension, welfare benefit and perquisite plans as in effect from time to time for employees of HCA (such plans and benefits in which he shall participate, collectively the “Employee Plans” or “Employee Benefits”) subject to the terms thereof. The accrued benefits under the terms of the relevant plan and any elections properly filed thereunder shall be paid to Executive pursuant to the terms of such Employee Plans.
(ii) Reasonable business expenses incurred by Executive in the performance of Executive’s duties hereunder shall be reimbursed by HCA in accordance with HCA’s policies. During the Term, HCA shall also provide Executive with Director’s and Officer’s indemnification and insurance coverage to the extent that the Board determines to be reasonable, in its sole discretion, for a company of the nature and size of HCA.
b. The Company shall provide or, at the Company’s election, reimburse Executive monthly for reasonable shared clerical support. This arrangement shall continue for five (5) years after the Term or upon the earlier written notice by Executive or immediately upon written notice by the Company following Executive’s termination for Cause (as defined below) or any uncured breach of his covenants set forth in Section 7 or 8 below.
c. All reimbursements and in-kind benefits described in this Section 5 shall be made within the time periods set forth in Treasury Reg. § 1.409A-3(i)(1)(iv) to the extent applicable and no right to reimbursement may be liquidated.
Employee Benefits Business Expenses
