Common use of Pension and Welfare Benefit Plans Clause in Contracts

Pension and Welfare Benefit Plans. During the Term of Employment, the Executive and his dependents where applicable shall be entitled to participate in all employee benefit programs made available to the Company’s executives or salaried employees generally, as such programs may be in effect from time to time, including pension and other retirement plans, group life insurance, group health insurance, accidental death and dismemberment insurance, long-term disability, sick leave (including salary continuation arrangements), vacations (of at least four weeks per year), holidays and other employee benefit programs sponsored by the Company; provided, however, that such benefits shall not duplicate the benefits provided pursuant to Section 4.2. Employer agrees, that until such time as the Executive and his dependents where applicable are eligible to participate in the Company’s group health, executive medical, disability and life insurance-related coverage and/or benefits as described in Section 4.2, the Company shall reimburse Executive for the premium payments that the Executive is required to make to the Executive’s prior employer in order to maintain the benefits that the Executive is entitled to receive pursuant to under Section 601 through 607 of the Employee Retirement Income Security Act of 1974, as amended.