Fringe Benefits; Expenses. (a) So long as the Employee is employed by the Company, the Employee shall participate in all employee benefit plans sponsored by the Company for its executive employees, including but not limited to vacation policy, sick leave and disability leave, health insurance, dental insurance and pension and/or profit sharing plans; provided, however, that except as provided below, the nature, amount and limitations of such plans shall be determined from time to time by the Board of Directors of the Company.
(b) The Company will reimburse the Employee for all reasonable business expenses incurred by the Employee in the scope of his employment.
(c) Employees shall be entitled to participate in any other stock bonus, stock purchase or stock option plan instituted by the Company for its managers or employees generally in the same manner as any other senior executive officer of the Company, with proper regard and weight given in the issuance of shares or the grant of options for the Employee's position (and without consideration of the above Senior Management Options or any shares of the Company otherwise owned by Employee directly or indirectly).
(d) The Company shall make reasonable efforts to provide life insurance payable to Employee's designated beneficiary in an amount at least three times Employee's annual base salary.
(e) The Company shall make a reasonable effort to maintain disability insurance on behalf of Employee which, as a goal, shall provide for salary continuation in the event of permanent disability in an amount not less than 60% of the Employee's regular base salary.
(f) The Employee shall be entitled to a minimum of three weeks paid vacation, increasing to four weeks at January 1, 1999.
(g) The Company will pay all license fees, occupation taxes and reasonable educational costs and expenses necessary to maintain Employee's good standing under any professional licenses.
Fringe Benefits; Expenses a. So long as Employee is employed by Drone USA, Employee shall be eligible to participate in all employee benefit plans sponsored by Drone USA for its employees in accordance with Drone USA’s policies, including but not limited to sick leave and disability leave, life insurance, health insurance, dental insurance, and stock ownership and/or profit sharing plans; provided, however, that the nature, amount and limitations of such plans shall be determined from time to time by the Board of Directors of Drone USA. Employee agrees that by being eligible to participate in benefits such as health insurance, dental insurance and life insurance, participation will be subject to employee contributions which may change from time to time. Notwithstanding the forgoing, during the Initial Term of Employee’s employment, the benefits to which Employee is entitled shall be substantially the same as those that Employee received while employed by Howco during the two (2) year period immediately prior to the effective date of this Agreement, and in the event that the benefit program in effect for Drone USA employees is less favorable than the benefits provided by Howco to Employee, an adjustment shall be made to Employee’s base compensation to compensate for any deficiency in such benefits.
b. Drone USA shall reimburse Employee for all approved reasonable business expenses incurred by Employee in the scope of employment; provided, however, that such expenses must be pre-approved and Employee must file expense reports with respect to such expenses in accordance with Drone USA’s policies as are in effect from time to time.
c. Employee shall be entitled to paid vacation consistent with the paid vacation received by Employee while employed by Howco during the two (2) year period immediately prior to the effective date of this Agreement. Employee shall also be entitled to the paid holidays and other paid leave set forth in Drone USA’s policies.
Fringe Benefits; Expenses. (a) During his Term of Employment, Employee shall be entitled to participate in all employee benefit plans sponsored by OMNI and made available for salaried, exempt employees, including sick leave and disability leave, health insurance and 401(k) plans. In addition, Employee shall be eligible to participate in OMNI’s Long Term Incentive Compensation Plan.
(b) OMNI will reimburse Employee for all reasonable business expenses incurred by Employee in the scope of Employee’s employment; provided, however, that Employee must file expense reports with respect to such expenses and otherwise comply with OMNI’s policies.
(c) Employee shall be entitled to four (4) weeks paid vacation during each calendar year (prorated for any partial year) and to paid holidays and other paid leave set forth in and in accordance with OMNI’s policies in effect for other salaried, exempt employees. Any vacation not used during a calendar year may not be used during any subsequent period. Employee shall be compensated for any unused vacation upon termination of this Agreement for any reason.
(d) Employee will be entitled to an automobile allowance of $750 per month during his employment with the Company.
(e) Upon execution of this Agreement, Employee shall be granted non-qualified options to purchase 100,000 shares of OMNI Common Stock, pursuant to the Seventh Amended and Restated OMNI Energy Services Corp. Stock Incentive Plan (the “Plan”). The 100,000 options shall vest as follows: 6,250 at the close of each Quarter in the Initial Period. The exercise price per share shall be the Fair Market Value of a share of common stock on the date this Agreement is executed. All options granted hereunder shall vest immediately upon termination by OMNI without cause (see Section 6(a) hereof), or upon a Change of Control as defined in Section 10.11(A) of the Plan. The options may be exercised as provided in Section 6.4 of the Plan. All options granted hereunder shall expire 10 years after the date of grant, provided however that all options must be exercised within ninety (90) days of termination of Employment for whatever reason.
(f) Employee shall be granted 25,000 shares of Restricted OMNI Common Stock as described herein and pursuant to Section 7 of the Plan. The 25,000 shares shall vest as follows: 6,248 shares on January 14, 2009; 1,562 shares vest on each March 31, June 30, September 30 and December 31, thereafter through September 30, 2011, and the remaining 1,570 shares shall vest Decembe...
Fringe Benefits; Expenses. (a) So long as I am employed by the Company, I will be eligible to participate in all employee benefit plans sponsored by the Company for its employees in accordance with the Company’s policies, including but not limited to vacation policy, sick leave and disability leave, life insurance, health insurance, dental insurance, and stock ownership and/or profit sharing plans; provided, however, that the nature, amount and limitations of such plans shall be determined from time to time by the Board of Directors of the Company and/or the Compensation Committee, to the extent such committee is established. I understand that by being eligible to participate in benefits such as health insurance, dental insurance and life insurance, participation will be subject to employee contributions which may change from time to time.
(b) The Company shall reimburse me for all approved reasonable business expenses incurred by me in the scope of my employment; provided, however, that such expenses must be pre approved and I must file expense reports with respect to such expenses in accordance with the Company’s policies as are in effect from time to time.
(c) I am entitled to paid vacation in accordance with the vacation policies of the Company in effect from time to time. I will also be entitled to the paid holidays and other paid leave set forth in the Company’s policies.
(d) In addition to my compensation and eligibility to receive the benefits described above, there are certain specific benefits that I will receive incidental to my employment these are (i) Automobile Allowance or alternatively, a Company vehicle; (ii) Insurance; (iii) Company Credit Cards; (iv) Company Cell Phone; and (v) Computer and Data Plan.
(i) Automobile Allowance - So long as I am employed by the Company I may receive a monthly car allowance that will cover the cost/lease of the vehicle, maintenance, fuel and insurance. The vehicle to be furnished to me shall be agreed upon by Company and me from time to time. I acknowledge that I may recognize taxable income in connection with Company’s providing an auto allowance. In the event of my termination, I will promptly return the Company vehicle which I have been provided.
(ii) Company Provided Insurance - The Company will provide me and my family with insurance as part of my employment. So long as I am employed by the Company I will continue to be eligible to participate in these policies but they may be adjusted, changed or amended from time to time by th...
Fringe Benefits; Expenses. So long as the Employee is employed by the Company, the Employee shall participate in any employee benefit plans sponsored by the Company generally for its employees serving in similar employment capacities as the Employee as determined from time to time by the board of directors of the Company or any compensation committee of the board of directors, if any, and on terms at least as favorable to Employee as are generally offered to other employees of the Company serving in a similar capacity. The Company shall also reimburse Employee for his reasonable travel and other out-of-pocket business expenses incurred in connection with his employment under this Agreement pursuant to expense reports filed in accordance with the Company's policies in effect from time to time, provided that if Employee receives an automobile allowance pursuant hereto, then Employee shall not otherwise be reimbursed for automobile expenses under this provision, except for out-of-town rental automobiles.
Fringe Benefits; Expenses. (a) Employee shall participate in all ------------------------- employee benefit plans sponsored by the Company or GroupMAC for its executive employees, including but not limited to stock bonus, stock purchase and stock option plans, sick leave and disability leave, health insurance, dental insurance and pension and/or profit sharing plans; provided, however, that except as provided below, the nature, amount and limitations of such plans shall be determined from time to time by the Board of Directors of the Company.
(b) The Company will reimburse Employee for all reasonable business expenses incurred by Employee in the scope of his employment; provided, however, that Employee must file expense reports with respect to such expenses in accordance with the Company's policies as are in effect from time to time.
(c) Employee shall be entitled to a minimum of three weeks paid vacation during each calendar year, increasing to four weeks at June 1, 2000, and to paid holidays and other paid leave set forth in the Company's policies in effect from time to time. Any vacation not used during a calendar year may not be used during any subsequent period.
(d) The Company will pay all license fees, occupation taxes and reasonable educational costs and expenses necessary to maintain Employee's good standing under any professional licenses.
(e) The Company shall use reasonable efforts to provide (i) life insurance payable to Employee's designated beneficiary in an amount at least three times Employee's Annual Base Salary and (ii) disability insurance on behalf of Employee which, as a goal, shall provide for salary continuation in the event of permanent disability in an amount not less than 60% of Employee's Annual Base Salary, it being acknowledged by Employee that GroupMAC's present disability insurance provides a limit of $5,000 per month.
Fringe Benefits; Expenses. The Employee shall be eligible to participate in any fringe benefits which may be or may become applicable to RCC’s senior management employees, including by example, participation in any stock option or incentive plans, and any other benefits adopted by RCC. RCC shall reimburse Employee for all reasonable out-of-pocket expenses which Employee shall incur in connection with his/her service for RCC which are documented in accordance with RCC’s policies as set forth from time to time.
Fringe Benefits; Expenses. (a) So long as the Employee is employed by the Company, the Employee shall participate in all employee benefit plans sponsored by the Company for its executive employees, including, but not limited to, vacation policy, health insurance, dental insurance and retirement plans; provided, however, that the nature, amount and limitations of such plans shall be determined from time to time by the Board of Directors of the Company.
(b) The Company agrees to reimburse the Employee for all reasonable out-of-pocket expenses incurred by her in the performance of her duties, subject to the submission of appropriate documentation in accordance with the Company's expense reimbursement policy as in existence from time to time.
Fringe Benefits; Expenses. (a) During the term of employment of Employee hereunder, Employee shall be entitled to participate in all employee benefit plans sponsored by OMNI and made available for salaried, exempt employees, including sick leave and disability leave, health insurance and 401(k) plans.
(b) OMNI will reimburse Employee for all reasonable business expenses incurred by Employee in the scope of Employee’s employment; provided, however, that Employee must file expense reports with respect to such expenses and otherwise comply with OMNI”s policies as are in effect from time to time and are made known to Employee.
(c) During the term of employment of Employee hereunder, Employee shall be entitled to four (4) weeks paid vacation during each calendar year (prorated for any partial year) and to paid holidays and other paid leave set forth in and in accordance with OMNI’s policies in effect from time to time for other salaried, exempt employees. Any vacation not used during a calendar year may not be used during any subsequent period. Employee shall be compensated for any unused vacation upon termination of this Agreement for any reason.
(i) On November 30, 2004, Employee shall be granted non-qualified options to purchase 100,000 shares of OMNI Common Stock pursuant to the Fifth Amended and Restated OMNI Energy Services Corp Stock Incentive Plan (the “Plan”) 33,334 of which shall immediately vest. The remaining 66,666 options shall vest as follows: 33,333 on November 30, 2005; and 33,333 on November 30, 2006.
(ii) All options granted hereunder shall vest immediately upon termination by OMNI without cause (See Section 6(a) hereof), and upon a Change of Control as defined in Section 10.11(A) of the Plan. The exercise price of the options granted hereunder shall be equal to the Fair Market Value, as defined in the Plan, of a share of Common Stock on the date of grant. The Options may be exercised as provided in Section 6.4 of the Plan. All options granted hereunder shall expire thirty-six (36) months after the date of vesting.
Fringe Benefits; Expenses. (a) So long as the Employee is employed by the Company, the Employee shall participate in all employee benefit plans sponsored by the Company for its executive employees; provided, however, that the nature, amount and limitations of such plans shall be determined from time to time by the Board of Directors of the Company.
(b) The Company will reimburse the Employee for all reasonable business expenses incurred by the Employee in the scope of his employment; provided, however, that the Employee must file expense reports with respect to such expenses in accordance with the Company's policies as are in effect from time to time.
(c) The Employee shall be entitled to a minimum of four (4) weeks paid vacation in accordance with the vacation policies of the Company in effect from time to time. The Employee will also be entitled to the paid holidays and other paid leave set forth in the Company's policies.
