Common use of Retirement, Welfare and Fringe Benefits Clause in Contracts

Retirement, Welfare and Fringe Benefits. To the maximum extent that he is eligible under the terms of the applicable plan or program, the Executive shall participate in the current or future plans or programs maintained by the Company for its employees and/or senior executives that provide insurance, medical benefits, retirement benefits, or similar fringe benefits as set forth in SCHEDULE A attached hereto, as well as any additional plans or programs that may be adopted that are generally applicable to senior executives; provided, however, that if within the Employment Term, the Executive leaves the employment of the Company and is eligible for severance benefits, then $7,500 per Year of Service shall be added to the severance amount in lieu of any forfeited (non-vested) qualified plan amount. In addition, the Executive shall be entitled to a minimum of twenty (20) vacation days for each calendar year beginning with or within a Year of Service, which must be taken in accordance with the Company's vacation policy then in effect. The Executive shall also be entitled at least six (6) days of sick day leave, seven (7) personal days leave and seven (7) fixed holidays for each calendar year beginning with or within a Year of Service, which must be taken in accordance with the Company's applicable policies then in effect. Unused vacation days, sick days or personal days shall not carry forward into the subsequent year. In the event that the Company establishes a more favorable vacation, sick leave or personal day policy generally applicable to senior executives, the Executive shall be entitled to any such additional benefits. During the Employment Term, the Company shall pay the Executive an automobile allowance, which shall not exceed $1,250 per month, plus an annual inflation adjustment reflecting market conditions. The Executive is responsible for the tax consequences of the personal usage of the automobile. The Executive shall be entitled to a $5,000 per year golf, health, country and/or other recreational club membership allowance for each Year of Service, to be allocated among the foregoing as the Executive sees fit. The Executive is responsible for the tax consequences of the personal usage of the golf, health, country and/or other recreational club membership. In addition, or in lieu of the Company policy for executives with respect to annual physical examinations, during each Year of Service, the Executive shall be reimbursed up to $1000 for an annual physical examination conducted by a physician designated by the Executive.

Retirement, Welfare and Fringe Benefits. To the maximum extent that he is eligible under the terms of the applicable plan or program, the Executive shall participate in the current or future plans or programs maintained by the Company for its employees and/or senior executives that provide insurance, medical benefits, retirement benefits, or similar fringe benefits as set forth in SCHEDULE A attached heretobenefits, as well as any additional plans or programs that may be adopted that are generally applicable to senior executives; provided, however, that if within the Employment Term, the Executive leaves the employment of the Company and is eligible for severance benefits, then $7,500 per Year of Service shall be added to the severance amount in lieu of any forfeited (non-vested) qualified plan amount. In addition, the Executive shall be entitled to a minimum of twenty (20) vacation days for each calendar year beginning with or within a Year of Service, which must be taken in accordance with the Company's vacation policy then in effect. The Executive shall also be entitled at least six (6) days of sick day leave, seven (7) personal days leave and seven (7) fixed holidays for each calendar year beginning with or within a Year of Service, which must be taken in accordance with the Company's applicable policies then in effect. Unused vacation days, sick days or personal days shall not carry forward into the subsequent year. In the event that the Company establishes a more favorable vacation, sick leave or personal day policy generally applicable to senior executives, the Executive shall be entitled to any such additional benefits. During the Employment Term, the Company shall pay the Executive an automobile allowance, which shall not exceed $1,250 per month, plus an annual inflation adjustment reflecting market conditions. The Executive is responsible for the tax consequences of the personal usage of the automobile. The Executive shall be entitled to a $5,000 per year golf, health, country and/or other recreational club membership allowance for each Year of Service, to be allocated among the foregoing as the Executive sees fit. The Executive is responsible for the tax consequences of the personal usage of the golf, health, country and/or other recreational club membership. In addition, or in lieu of the Company policy for executives with respect to annual physical examinations, during each Year of Service, the Executive shall be reimbursed up to $1000 for an annual physical examination conducted by a physician designated by the Executive.