General Fringe Benefits Sample Clauses

General Fringe Benefits. Executive shall be entitled to participate in the life, hospitalization, health, accident and disability insurance plans, health programs, pension plans, and other benefit and compensation plans, which are or which may become generally available to senior executives of the Company from time to time.

General Fringe Benefits. The Executive shall be entitled to, and the Company shall provide, such fringe benefits of the Company, with eligibility to commence on the Effective Date, including, but not limited to, participation in employee health and benefit plans and the Company’s purchase of health and/or disability insurance, which the Company may from time to time generally offer its officers during the Employment Term and for which the Executive is eligible.

General Fringe Benefits. The Executive shall be entitled to, and the Company shall provide, such fringe benefits of the Company, including, but not limited to, participation in employee health and benefit plans and the Company’s purchase of health and/or disability insurance, which the Company may from time to time generally offer its senior executive officers during the Employment Term and for which the Executive is eligible. In addition, the Executive shall be entitled to, and the Company shall provide, an annual executive physical exam and participation in the medical executive reimbursement plan (MERP), on a basis consistent with the terms, conditions and administration of such plan, and a non-accountable pre-tax car allowance of $900 per month, subject to increases, if any, as may be approved from time to time by the Board or the Compensation Committee in its discretion.

General Fringe Benefits. 4.1 The Employee shall be provided the same economic fringe benefits as extended to other Township employees through the Township Policy Manual, including the same Pension, Life and Disability Insurance, Optical, Health and Dental Insurance, Holidays, Personal Leave Days, Sick Leave, and Funeral Leave. Pension benefits may be issued through Municipal Employees’ Retirement System of Michigan.

General Fringe Benefits. Executive shall be entitled to participate in the life, hospitalization, health, accident and disability insurance plans, health programs, pension plans, and other benefit and compensation plans generally available to senior executives of Company from time to time. In addition, commencing in the first calendar year in which the Company achieves annual revenues in excess of $5,000,000, the Company, at its sole expense, shall provide Executive with life insurance coverage (the beneficiary to be designated by Executive) in an amount not less than $1,000,000.

General Fringe Benefits. 4.1 The Employee shall be provided the same economic fringe benefits as extended to other Township employees through the Township Policy Manual, including the same Pension, Life and Disability Insurance, Optical, Health and Dental Insurance, Vacation, Holidays, Personal Leave Days, Sick Leave, and Funeral Leave. Payouts upon termination shall be provided per the Township Policy Manual, except for early terminations per Section 12.3 of this contract. 4.2 The Employee shall receive 128 hours of Vacation time. Vacation time will be used in accordance of provisions of the Township policy Manual. The Employee shall select vacation days during periods of time less disruptive to the operations of the Township. Unused vacation time may be accumulated up to a maximum of ten (10) days.

General Fringe Benefits. 4.1 The Employee shall be provided the same economic fringe benefits as extended to other Township employees through the Township Policy Manual, including the same Pension, Life and Disability Insurance, Optical, Health and Dental Insurance, Holidays, Personal Leave Days, Sick Leave, and Funeral Leave. Payouts upon termination shall be provided per the Township Policy Manual, except for early terminations per Section 12.3 of this contract. 4.2 The Employee shall receive 144 hours of Vacation time. Vacation time will be used in accordance of provisions of the Township policy Manual. The Fire Chief shall select vacation days during periods of time less disruptive to the operations of the Township, provided, however, that the Fire Chief shall not take more than ten (10) days consecutively or within a three week period without the prior consent of the Township Board. Unused vacation time may be accumulated up to a maximum of ten (10) days. 4.3 The Township will provide the uniforms and accessories of the Township’s Fire Department. 4.4 The Township will provide a dry cleaning reimbursement allowance of up $300 annually for Township issued uniforms.

General Fringe Benefits. The Executive shall be entitled to participate in any health, medical, hospitalization, accident, life insurance, short-term and long-term disability insurance, pension and profit sharing, deferred compensation, welfare benefit or other fringe benefit plans, insured or self-funded, maintained by the Company or the Holding Company from time to time for the benefit of its senior management or employees generally (collectively, the “Fringe Benefit Plans”), unless such participation is declined by the Executive. Except as otherwise provided in this Agreement, the timing and level of the Executive’s participation in such Fringe Benefit Plans shall be governed by the specific terms and conditions of each such plan.

General Fringe Benefits. Executive shall be entitled to participate in the life, hospitalization, health, accident and disability insurance plans, health programs, pension plans, and other benefit and compensation plans generally available to senior executives of the Company from time to time. In addition, the Company, at its sole expense, shall provide Executive with life insurance coverage (the beneficiary to be designated by Executive) in an amount not less than $1,000,000. With respect to health and hospitalization insurance, until such time as the Company has provided Executive with effective health and hospitalization coverage, the Company shall reimburse Executive for his monthly COBRA payments to maintain his current health and hospitalization insurance. Without limiting the foregoing, the Company confirms that it intends to establish a qualified stock option plan for its senior executives, including Executive, within six (6) months of the date hereof.

General Fringe Benefits. Executive shall be eligible to participate in the life, hospitalization, health, accident and disability insurance plans, health programs, pension plans, and other benefit and compensation plans that are to be developed by Executive, external consultants or members of the Company, for the exclusive use by Company Officers and employees, during the first three [3] years of the Term. In the absence of these fringe benefits generally being available on the first day of the commencement of the Term, Executive shall, solely at Company expense, obtain 1] comprehensive medical and dental insurance for himself and eligible immediate family members, 2] a Long Term Disability Plan for himself that offers up to 75% of annual salary protection, and 3] an Accidental death and dismemberment Policy for himself with a coverage value of not less than twice the effective Base Salary, and 4],life insurance coverage (the beneficiary to be designated by Executive) in an amount not less than twice the then effective Base Salary.