Common use of Retirement and Benefit Plans Clause in Contracts

Retirement and Benefit Plans. During his employment, Employee shall be entitled to participate in and Employer agrees to provide all retirement and benefit plans at no cost to Employee including: retirement plans with immediate and full (100%) vesting; Comprehensive health and major medical health insurance for Employee and his family; Comprehensive dental insurance for Employee and his family; Comprehensive vision insurance for Employee and his family; Comprehensive life insurance; Travel accident insurance; Disability insurance; Liability insurance and other similar employee welfare benefit arrangements including equity-based incentive plans as described in 3(c) above available as an executive Employee of Employer. There shall be no payroll deduction as a condition of coverage in the health and major medical plans, dental plans and vision plans. Any fees, premiums, or pay-outs will come solely from the Investor Relations Department budget subject to availability of funds.