Common use of FRINGE BENEFITS; VACATIONS Clause in Contracts

FRINGE BENEFITS; VACATIONS. (a) During the Employment Period, Executive shall be entitled to participate in or receive benefits under such pension, medical and life insurance and other employee benefit plans of the Company which may be in effect from time to time, to the extent he is eligible under the terms of those plans, on the same basis as other employees of the Company having comparable positions. (b) Executive shall be entitled to twenty days of vacation with pay during each year of employment, which vacation time shall accrue pro rata during each year of employment according to the portion of such year of employment during which Executive has served.