Common use of Health Insurance and Other Benefits Clause in Contracts

Health Insurance and Other Benefits. During the Term, the Executive shall be entitled to all employee benefits offered by the Company to its senior executives and key management employees, including, without limitation, all pension, profit sharing, retirement, stock option, salary continuation, deferred compensation, disability insurance, hospitalization insurance major medical insurance, medical reimbursement survivor income, life insurance or any other benefit plan or arrangement established and maintained by the Company, subject to the rules and regulations then in effect regarding participation therein. The Company shall implement a benefits plan within one (1) month from Commencement Date which, as it pertains to Executive, shall include, without limitation, health and medical insurance, dental insurance, and short-term and long-term disability insurance. Within one (1) month of the Commencement Date, the Company shall have procured and funded for Executive a life insurance policy, in form and substance satisfactory to Executive, acting reasonably, in the amount of one million dollars ($1,000,000), with the beneficiary to be named by Executive.

Health Insurance and Other Benefits. During the Term, the Executive shall be entitled to all employee benefits offered by the Company to its senior executives and key management employees, including, without limitation, all pension, profit sharing, retirement, stock option, salary continuation, deferred compensation, disability insurance, hospitalization insurance insurance, major medical insurance, medical reimbursement survivor income, life insurance or any other benefit plan or arrangement established and maintained by the Company, subject to the rules and regulations then in effect regarding participation therein. The Company shall implement a benefits plan within one (1) month from Commencement Date which, as it pertains to Executive, shall include, without limitation, health and medical insurance, dental insurance, and short-term tem and long-term disability insurance. Within one (1) month of the Commencement Date, the Company shall have procured and funded for Executive a life insurance policy, in form and substance satisfactory to Executive, acting reasonably, in the amount of one million dollars ($1,000,000), with the beneficiary to be named by Executive.