Common use of Participation in Welfare Benefit Plans Clause in Contracts

Participation in Welfare Benefit Plans. During the Term, the Executive shall be entitled to participate in the Company’s 401(k) plan and in the medical, dental, vision, life, disability and accident insurance programs maintained by the Company that were available to the Executive on the date of this Agreement, in each case, in accordance with the terms thereof as in effect on this Agreement. In addition, during the Term, the Executive shall be entitled to receive perquisites consisting of an automobile allowance or company car, current country club membership and financial planning assistance, to the extent made available to the Executive by the Company on the date of this Agreement. Notwithstanding anything herein to the contrary, the Company and/or Parent may reduce the 401(k) plan and insurance benefit plans and programs made available to the Executive to the extent such a reduction applies to all salaried employees of the Company who are exempt from the wage and hour provisions of the Fair Labor Standards Act. Following the Term, the Executive shall be entitled to participate in the Company’s welfare benefit plans and receive perquisites as determined by the Company and/or Parent.