Common use of Participation in Retirement and Employee Benefit Plans; Fringe Benefits Clause in Contracts

Participation in Retirement and Employee Benefit Plans; Fringe Benefits. The Executive shall be entitled to participate in all plans of the Company relating to stock options, stock purchases, pension, thrift, profit sharing, life insurance, hospitalization and medical coverage, disability, travel or accident insurance, education or other retirement or employee benefits that the Company has adopted or may adopt for the benefit of its senior executives, subject to the provisions of those plans. In addition, the Executive shall be entitled to participate in any other fringe benefits, such as automobile allowances, club dues and fees of professional organizations and associations, which are now or may become applicable to the Company's senior executives, and any other benefits which are commensurate with the duties and responsibilities to be performed by the Executive under this Agreement. The Executive shall, during the Term of the Executive's employment hereunder, continue to be provided with benefits at a level which shall in no event be less in any material respect than the benefits available to the Executive as of the date of this Agreement. Notwithstanding the foregoing, the Company may change, terminate or reduce benefits under any benefit plans and programs to the extent such changes, terminations or reductions apply uniformly to all senior executives entitled to participate therein, and the Executive's benefits shall be changed, terminated or reduced or terminated accordingly.

Appears in 2 contracts

Samples: Employment Agreement (Giant Industries Inc), Employment Agreement (Giant Industries Inc)

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Participation in Retirement and Employee Benefit Plans; Fringe Benefits. The Executive shall be entitled to participate in all plans of the Company relating to stock options, stock purchases, pension, thrift, profit sharing, life insurance, hospitalization and medical coverage, disability, travel or accident insurance, education or other retirement or employee benefits that the Company has adopted or may adopt for the benefit of its senior executives, subject to the provisions of those plans. In addition, the Executive shall be entitled to participate in any other fringe benefits, such as automobile allowances, club dues and fees of professional organizations and associations, which are now or may become applicable to the Company's senior executives, and any other benefits which are commensurate with the duties and responsibilities to be performed by the Executive under this Agreement. The Executive shall, during the Term of the Executive's employment hereunder, continue to be provided with benefits at a level which shall in no event be less in any material respect than the benefits available to the Executive as of the date of this Agreement. Notwithstanding the foregoing, the Company may change, terminate or reduce benefits under any benefit plans and programs to the extent such changes, terminations or reductions apply uniformly to all senior executives entitled to participate therein, and the Executive's benefits shall be changed, terminated or reduced or terminated accordingly.

Appears in 2 contracts

Samples: Employment Agreement (Giant Industries Inc), Employment Agreement (Giant Industries Inc)

Participation in Retirement and Employee Benefit Plans; Fringe Benefits. The Executive shall be entitled to participate in all plans of the Company FuelNation relating to stock options, stock purchases, pension, thrift, profit sharing, life insurance, hospitalization and medical coverage, disability, travel or accident insurance, education or other retirement or employee benefits that the Company FuelNation has adopted or may adopt for the benefit of its senior executives, subject to the provisions of those plans. In addition, the Executive shall be entitled to participate in any other fringe benefits, such as automobile allowancesclub dues, club dues legal and tax planning expenses (up to $5,000 per year) and fees of professional organizations organization and associations, which are now or may become applicable to the Company's senior executives, and any other benefits which are commensurate with the duties and responsibilities to be performed by the Executive under this Agreement. The Executive shall, during the Term term of the Executive's his employment hereunder, continue to be provided with benefits at a level which shall in no event be less in any material respect than the benefits available to the Executive as of immediately prior to the date of this Agreement. Notwithstanding the foregoing, the Company may change, terminate or reduce benefits under any benefit plans and programs to the extent such changes, terminations or reductions apply uniformly uniform to all senior executives entitled to participate therein, and the Executive's benefits shall be changed, terminated or reduced or terminated accordingly.

Appears in 2 contracts

Samples: Employment Agreement (Fuelnation Inc), Employment Agreement (Fuelnation Inc)

Participation in Retirement and Employee Benefit Plans; Fringe Benefits. The Executive shall be entitled to participate in all plans of the Company Merchant relating to stock options, stock purchases, pension, thrift, profit sharing, life insurance, hospitalization and medical coverage, disability, travel or accident insurance, education or other retirement or employee benefits that the Company Merchant has adopted or may adopt for the benefit of its senior executives, subject to the provisions of those plans. In addition, the Executive shall be entitled to participate in any other fringe benefits, such as automobile allowancesclub dues, club dues legal and tax planning expenses (up to $5,000 per year) and fees of professional organizations organization and associations, which are now or may become applicable to the Company's senior executives, and any other benefits which are commensurate with the duties and responsibilities to be performed by the Executive under this Agreement. The Executive shall, during the Term term of the Executive's his employment hereunder, continue to be provided with benefits at a level which shall in no event be less in any material respect than the benefits available to the Executive as of immediately prior to the date of this Agreement. Notwithstanding the foregoing, the Company may change, terminate or reduce benefits under any benefit plans and programs to the extent such changes, terminations or reductions apply uniformly uniform to all senior executives entitled to participate therein, and the Executive's benefits shall be changed, terminated or reduced or terminated accordingly.

Appears in 2 contracts

Samples: Employment Agreement (Merchantonline Com Inc), Employment Agreement (Merchantonline Com Inc)

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Participation in Retirement and Employee Benefit Plans; Fringe Benefits. The Executive shall be entitled to participate in all plans of the Company relating to stock options, stock purchases, pension, thrift, profit sharing, life insurance, hospitalization and medical coverage, disability, travel or accident insurance, education or other retirement or employee benefits that the Company Merchant has adopted or may adopt for the benefit of its senior executives, subject to the provisions of those plans. In addition, the Executive shall be entitled to participate in any other fringe benefits, such as automobile allowancesclub dues, club dues legal and tax planning expenses (up to $5,000 per year) and fees of professional organizations organization and associations, which are now or may become applicable to the Company's senior executives, and any other benefits which are commensurate with the duties and responsibilities to be performed by the Executive under this Agreement. The Executive shall, during the Term term of the Executive's his employment hereunder, continue to be provided with benefits at a level which shall in no event be less in any material respect than the benefits available to the Executive as of immediately prior to the date of this Agreement. Notwithstanding the foregoing, the Company may change, terminate or reduce benefits under any benefit plans and programs to the extent such changes, terminations or reductions apply uniformly uniform to all senior executives entitled to participate therein, and the Executive's benefits shall be changed, terminated or reduced or terminated accordingly.

Appears in 1 contract

Samples: Employment Agreement (Merchantonline Com Inc)

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