Executive Benefits And Perquisites. Executive shall be entitled to receive all other executive benefits and perquisites to which all other executive employees of the Corporation are entitled.
Executive Benefits And Perquisites. Xxxxx shall be entitled to receive all other executive benefits and perquisites to which all other executive employees of the Corporation are entitled.
Executive Benefits And Perquisites. You will be entitled to all fringe benefits and perquisites granted to UBL’s Senior Executives including, without limitation, (A) payment of 100% of health insurance premiums for You and Your dependents; (B) payment of 100% of dental insurance premiums for You and Your dependents; (C) payment of 100% of the premium for long term disability insurance, the terms of which will provide, in the event of Your disability, no less than sixty percent (60%) of Your base salary throughout the period of Your disability or until age 67, whichever is later; and (D) a 401(k) or similar qualified plan in which UBL will, at its sole discretion, provide a match, the level of which shall be determined by the Board.
Executive Benefits And Perquisites. During the Term, the Company shall provide and/or pay for employee benefits and perquisites that are, in the aggregate, no less favorable than the employee benefits and perquisites that Executive enjoys as of the Effective Date, as increased from time to time, including, without limitation:
(a) comprehensive individual health insurance, including dependent coverage;
(b) life insurance coverage in the amount of One Million Dollars ($1,000,000) any proceeds of which shall be payable to Executive's designated beneficiary or his estate;
(c) four (4) weeks paid vacation annually;
(d) disability insurance coverage in a monthly benefit amount equal to the sum of 100% of Executive's Salary plus "Bonus Amount" (as defined in Section 3.4(a));
(e) one-time initiation fee(s) not to exceed $15,000 (if not used within the first 2 years of this Agreement, Executive may apply the $15,000 towards dues at a country club(s)), and the cost of dues, assessments and other charges for a full membership in one or more country club(s) of Executive's choice, in an amount not to exceed $15,000 per year;
(f) an automobile allowance and automobile insurance coverage or, in the alternative a leased automobile, at least equal to the greater of (i) the largest down payment and monthly lease payment made by the Company within the previous three (3) years or (ii) the allowance and coverage that Executive receives as of the Effective Date, and as increased from time to time; and
(g) participation in the Company's SERP(s). Once increased, the level of benefits and perquisites shall not be decreased without Executive's consent. No amendment of any SERP that is adverse to Executive shall be effective as to Executive without his prior written consent (or, if he is no longer living, the consent of his beneficiary (or beneficiaries) designated in accordance with the Trust Agreement(s) (as defined in the SERP(s)). Any interpretation, construction, determination, act or failure to act of the Company or the "Committee" (as defined in the SERP(s)) that relates to the SERP(s) and is adverse to Executive shall be subject to de novo review in accordance with Section 6.9 of this Agreement.
Executive Benefits And Perquisites. During the Term, the Company shall provide and/or pay for employee medical and health care benefits as follows:
(a) comprehensive individual health insurance, including dependent coverage;
(b) life insurance coverage in the amount of two times the Executives' Salary not to exceed $500,000; any proceeds of which shall be payable to the Executive's designated beneficiary or his estate; and
(c) accidental death and dismemberment insurance in the amount of two times the Executives' Salary not to exceed $500,000; and
(d) disability insurance coverage in a monthly benefit amount equal to the sum of 66 2/3% of the Executive's monthly Salary. Once increased, the level of benefits shall not be decreased without the Executive's consent. The Company represents and agrees that the employee benefits provided to the Executive under clauses (a) through (d) above are -- and during the Term shall continue to be -- similar to those provided to an employee of IHS in a similar capacity as the Executive, except that the Executive will not participate in IHS' Senior Executive Retirement Program.
Executive Benefits And Perquisites. (i) Executive will be entitled to participate in all long-term and short-term incentive compensation programs, profit sharing programs and retirement programs (including without limitation equity-based programs) made available from time to time to senior executives of the Company.
(ii) During the Term, Executive shall receive a monthly car allowance in an amount equal to $1,000 per month.
Executive Benefits And Perquisites. Herbes shall be entitled to receive all other executive benefits and perquisites to which all other executive employees of the Corporation are entitled.
Executive Benefits And Perquisites. During the Term, Executive will be entitled to (x) the benefits listed in Exhibit B attached hereto and (y) the expatriate package and housing stipend listed in Exhibit C attached hereto. Notwithstanding any other provision set forth in this Agreement, such expatriate benefits shall continue for eighteen (18) months after the expiration of the Term, regardless of the reason for termination; provided, however, that such expatriate benefits shall not continue in the event Executive is terminated for Cause by the Company pursuant to Section 3(b)(i) hereof.
Executive Benefits And Perquisites. During the Term, the Company shall provide and/or pay for employee benefits and perquisites that are, in the aggregate, no less favorable than the employee benefits and perquisites that the Executive enjoys as of the Effective Date, as increased from time to time, including, without limitation:
(a) comprehensive individual health insurance, including dependent coverage;
(b) life insurance coverage in the amount of Five Hundred Thousand Dollars ($500,000) any proceeds of which shall be payable to the Executive's designated beneficiary or his estate;
(c) three (3) weeks paid vacation annually;
(d) disability insurance coverage in a monthly benefit amount equal to the sum of 100% of Executive's Salary plus "Bonus Amount" (as defined in Section 3.4(a));
(e) an automobile allowance and automobile insurance coverage in the total amount of One Thousand Dollars ($1,000) per month, and as increased from time to time. Once increased, the level of benefits and perquisites shall not be decreased without the Executive's consent.
Executive Benefits And Perquisites. Executive benefits and perquisites provide a key component of an executive's total compensation package. These programs are designed to attract, motivate, and retain key employees. Exhibit 6 compares this year’s top 10 executive benefits and perquisites to previous survey results. Company Cars/Car Allowance Cellular Telephones Executive Severance Pay Practice Employment Contracts Voluntary Nonqualified Deferred Compensation Executive Parking Executive Long Term Disability Physical Examinations Nonqualified Defined Benefit Plan Executive Vacation Schedule The prevalence of cellular telephones has begun to stabilize after several years of sharp increases. This can be attributed to job demands on executives, which frequently take them on the road and away from the traditional office setting. Also, advancements in technology allow cellular telephones to be purchased at a more reasonable price than just several years ago. Club memberships are attractive perquisites for executives, although the elimination of tax deductions and high costs have contributed to their decline. Two types of club memberships show a small, but steady, decline in prevalence over the last several years. Athletic clubs are the least prevalent of the three, reporting a 15% prevalence in 2000 compared to 12% for the current year, country clubs remain the most popular of the three and are offered by 25% of organizations, and lastly luncheon clubs have declined to a 15% prevalence from 19% in 2000. As might be expected, the prevalence of executive benefits and perquisites is frequently tied to the size of an organization. Exhibit 7 shows some examples of this variation. Executive Group Life Insurance Executive Long Term Disability Physical Examinations Voluntary Nonqualified Deferred Compensation Nonqualified Defined Benefit Nonqualified Defined Contribution "Golden Parachutes"* Executive Severance Pay Practice Company Aircraft Chauffeur A trend away from defined benefit plans has been identified in the last 15 years. Not only are fewer employers offering or continuing defined benefit plans, there is also a change in retirement plan combinations offered, usually in the form of adding a capital accumulation plan alongside an existing defined benefit plan. Nonqualified retirement plan combinations are 19% with a nonqualified defined benefit plan only, 13% with a nonqualified defined contribution plan only, 14% with both, and 54% offering neither type of plan. For organizations participating in ...
