Fringe Benefits and Expenses. A. Employee shall be eligible (subject to the terms and conditions of the particular plans and programs) to participate in such medical, hospitalization, group health, accident, disability and life insurance programs and plans, such pension, profit sharing, stock option, incentive compensation and stock purchase plans and such other employee benefit programs to the same extent such plans and programs are made generally available from time to time by Employer to all of its other similarly-situated employees; provide, however, Employer shall be under no obligation to make any such plans or programs available to its employees or continue any which currently or in the future exist.
Fringe Benefits and Expenses. 5.1 During the Employment Period, Executive shall be eligible to participate in the various health and welfare benefit plans maintained by the Company for its key management employees from time to time.
Fringe Benefits and Expenses. The Employee shall be entitled to participate from time to time in all fringe benefits of the Company made available to employees generally, and employees of a class including the Employee. For purposes of this paragraph 4(d), the Employee will be included in the class of senior executives of the Company. The Company shall promptly reimburse the Employee for all ordinary and necessary expenses incurred by the Employee on behalf of the Company.
Fringe Benefits and Expenses. The Company will provide Employee vacation and other employee fringe benefits substantially comparable to the vacation and benefits which the Company regularly provides for other key management employees, including hospitalization, health and disability insurance, to the extent offered by the Company, and in amounts consistent with Company policy, for key management employees as reasonably determined by the Board. Such vacations and benefits shall be no less than those set forth on Exhibit 2.5, attached hereto. During the Employment Period, the Company will reimburse Employee in accordance with Company policy for his normal and reasonable out-of-pocket expenses incurred in the course of performing his duties hereunder.
Fringe Benefits and Expenses. A. Employee shall be eligible (subject to the terms and conditions of the particular plans and programs) to participate in such medical, hospitalization, group health, accident, disability and life insurance programs and plans, such pension, profit sharing, stock option, incentive compensation and stock purchase plans and such other employee benefit programs to the same extent such plans and programs are made generally available from time to time by Employer to all of its other similarly-situated employees; provide, however, Employer shall be under no obligation to make any such plans or programs available to its employees or continue any which currently or in the future exist. Employee shall also be entitled to receive stock options equal to $300,000 of common stock. Said option shall be for 600 shares at a strike price of $500.00 per share. Said options shall be registered, as soon as the Company is publicly traded with any and all other shares that are registered. Said options shall be vested over three years, 200 shares per year, beginning in the second year of full time employment. Said options will be subject only to removal for cause, once vested. If the Employee's Visa is not renewed, this removal shall be deemed as removal without cause. Disability will also be deemed as removal without cause relative to the options mentioned above.
Fringe Benefits and Expenses. The Company shall provide to the Employee such life insurance coverage, medical and health insurance benefits, pension benefits, vacation, sick leave, and disability insurance as provided by Company to its other executive officers holding similar positions.
Fringe Benefits and Expenses. During the Employment Term, State Auto will provide Executive with all health and life insurance coverages, disability programs, tax-qualified retirement plans, nonqualified deferred compensation plans, equity compensation programs and such other fringe benefits of employment as State Auto may provide from time to time to actively employed senior executives of State Auto. Notwithstanding any provision contained in this Agreement, State Auto may discontinue or terminate at any time any employee benefit plan, policy or program described in this Section (E) of Article IV, now existing or hereafter adopted, to the extent permitted bu the terms of such plan, policy or program and will not be required to compensate Executive for such discontinuance or termination. In addition, Executive shall be entitled to reimbursement for all out-of-pocket expenses incurred by Executive in the performance of his duties hereunder; provided that such reimbursement shall be in accordance with State Auto’s then existing policy regarding the same and further provided that no reimbursement shall be made later than the end of the calendar year following the calendar year in which such expense was incurred. If such benefits are taxable, State Auto shall ensure that terms of the benefits will comply with Section 409A of the Code and the Treasury Regulations and other guidance promulgated or issued thereunder.
Fringe Benefits and Expenses. The Employee shall be entitled to participate on the same basis, except where stated otherwise in this Agreement, and subject to the same qualifications as other executives of the Employer, in any pension, profit sharing, stock purchase, savings, hospitalization, sick leave and other fringe benefit plans in effect from time to time with respect to executives of the Employer (the "Fringe Benefits"). The Employer agrees that each of the Fringe Benefits of the Employer in effect on the date hereof, or at any time during the Employment Period, shall not be terminated or modified in any manner which reduces the benefits of the Employee without first obtaining the written consent of the Employee. The Employee is entitled to reimbursement, upon presentation of vouchers indicating the amount and purpose, for reasonable expenses incurred on behalf of the Employer.
Fringe Benefits and Expenses a. In consideration for his consulting services the Corporation shall pay Consultant for twenty-four (24) months following the Effective Date of this Agreement (the "Consulting Period") all his reasonable business expenses incurred on the Corporation's behalf. These expenses include reasonable country club dues [not to exceed $500 per month], and reasonable automobile expenses incurred in connection with the operation of Action's 1997 Lincoln Towncar presently furnished to Consultant. Consultant shall continue to have exclusive use of the Towncar during the Consulting Period.
Fringe Benefits and Expenses
