Common use of Employee Benefits; Vacation Clause in Contracts

Employee Benefits; Vacation. During the Term or any Renewal Term, the Employee shall be provided with employee benefits on the same basis as benefits are generally made available to other employees of the Company. The Employee shall be entitled to paid vacation in accordance with Company policy, but not less than four (4) weeks per calendar year. Vacation time must be used or forfeited and will not accrue into the following calendar year. A health insurance premium benefit will be allowed and paid monthly to Employee in the amount of $1,000.00 USD for the first six months of the Term. Thereafter, so long as Employee is employed, the health insurance premium will be increased to an amount equal to the Employee’s actual monthly health insurance premium or $1,500 per month, whichever is lower.

Appears in 2 contracts

Samples: Employment Agreement (ComSovereign Holding Corp), Employment Agreement (ComSovereign Holding Corp)

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Employee Benefits; Vacation. During the Term or any Renewal Term, the Employee shall be provided with employee benefits on the same basis as benefits are generally made available to other employees of the Company. The Employee shall be entitled to paid vacation in accordance with Company policy, but not less than four (4) weeks per calendar year. Vacation time must be used or forfeited and will not accrue into the following calendar year. A health insurance premium benefit will be allowed and paid monthly to Employee in the amount of $1,000.00 USD for the first six months of the Term. Thereafter, so long as Employee is employed, the health insurance premium will be increased to an amount equal to the Employee’s actual monthly health insurance premium or $1,500 per month, whichever is lowerless.

Appears in 1 contract

Samples: Employment Agreement (ComSovereign Holding Corp)

Employee Benefits; Vacation. During the Term or and any Renewal Term, the Employee shall be provided with employee benefits on the same basis as benefits are generally made available to other employees of the Company. The Employee shall be entitled to paid vacation in accordance with Company policy, but not less than four (4) weeks per calendar year. Vacation time must be used or forfeited and will not accrue into the following calendar year. A health insurance premium benefit will be allowed and paid monthly to Employee in the amount of $1,000.00 USD for the first six months of the Term. Thereafter, so long as Employee is employed, the health insurance premium will be increased to an amount equal to the Employee’s actual monthly health insurance premium or $1,500 per month, whichever is lowerless.

Appears in 1 contract

Samples: Employment Agreement (ComSovereign Holding Corp)

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Employee Benefits; Vacation. During the Term or and any Renewal Term, the Employee shall be provided with employee benefits on the same basis as benefits are generally made available to other employees of the Company. The Employee shall be entitled to paid vacation in accordance with Company policy, but not less than four (4) weeks per calendar year. Vacation time must be used or forfeited and will not accrue into the following calendar year. A health insurance premium benefit will be allowed and paid monthly to Employee in the amount of $1,000.00 800.00 USD for the first six months of the Term. Thereafter, so long as Employee is employed, the health insurance premium will be increased to an amount equal to the Employee’s actual monthly health insurance premium or $1,500 1,000 per month, whichever is lower.

Appears in 1 contract

Samples: Employment Agreement (ComSovereign Holding Corp)

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