Common use of Expenses and Benefits Clause in Contracts

Expenses and Benefits. The Company shall reimburse the Employee for all ordinary and necessary business expenses incurred by him while carrying out his employment responsibilities under this Agreement. The Employee shall receive a monthly auto allowance of $400, shall be reimbursed by the Company for such auto's gasoline and oil charges and the Company will pay up to $900 annually for auto insurance on such auto. The Employee shall be entitled to participate in such other fringe benefit programs as the Company from time to time shall establish for all of its other full time employees of similar status, if he is otherwise eligible to participate in such programs. The Company retains the right to establish limits on the types or amounts of business expenses that the Employee may incur and to abolish or alter the terms of any fringe benefit program that it may establish. The Employee shall be paid a bonus up to 60% of the gross salary paid to Employee during the year. Such bonus shall be based on individual and Company performance and shall be paid to the Employee no later than March 31 of the year following the year in which the bonus is earned. During the term of this Agreement, the Employee shall be eligible to participate in any stock option plans generally available to the Company's key employees.