Certain Benefits. Executive will be eligible to participate in all employee benefit programs established by Employer that are applicable to management personnel such as medical, pension, disability and life insurance plans on a basis commensurate with Executive’s position and in accordance with Employer’s policies from time to time, but nothing herein shall require the adoption or maintenance of any such plan.
Certain Benefits. Effective as of the effective date of this Agreement, the Executive shall be entitled to such medical and other health benefits as may be provided from to time to time to other senior officers of the Company. Effective as of the Employment Date the Executive shall be entitled, in addition to medical and other health benefits, to such fringe benefits including, but not limited to, life insurance benefits and other benefits as may be provided from time to time by the Company to other senior officers of the Company. In addition, without restricting the foregoing, effective as of the Employment Date the Company shall provide the Executive at the Company's sole cost and expense with (i) a policy or policies of term life insurance (the "Basic Life Insurance") providing, among other things, basic death benefits of not less than two times the Base Salary in effect from time to time, (ii) directors and officers liability insurance with coverage, terms and limits suitable for a vice president of a New York Stock Exchange listed company comparable in financial size and wherewithal to that of the Company, and (iii) a monthly allowance of $500 cash to reimburse the Executive for the use and maintenance of his automobile in furtherance of the business and affairs of the Company, provided that the Executive shall at all times insure the Executive and the Company in such amounts as may be reasonably requested by the Company against claims for bodily injury, death and property damages occurring as a result of its use. The Company shall use its reasonable best efforts to make available to the Executive in connection with providing and paying for the Basic Life Insurance the opportunity to purchase at the Executive's sole cost and expense additional life insurance with a basic death benefit (the "Optional Life Insurance") equal to two times the Executive's Base Salary in effect from time to time (affording the Executive the opportunity to have basic death benefit life insurance coverage equal to four times such Base Salary). The Company shall use its reasonable best efforts to effect the transfer of the ownership to the Executive of the policy or policies for the Basic Life Insurance and the Optional Life Insurance, if any, upon the termination of the Executive's employment by the Company. After the Executive's termination, payment of any premiums would be the obligation of the Executive.
Certain Benefits. During the six (6) months following such termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”); and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.
Certain Benefits. With respect to benefits provided following Employee’s termination of employment, the provision of each such benefit (whether provided in-kind by the Company, provided by third parties but to be paid for by the Company, or reimbursed to Employee by the Company) in each calendar year shall be deemed a separate payment by the Company, and each component separately covered by clauses (i) – (v) below shall be deemed a separate payment. The following payment rules apply to ensure, to the greatest extent possible, that provision of these benefits does not result in Section 409A penalties to Employee:
Certain Benefits. The Company shall furnish Executive with office space, secretarial assistance and such other facilities and services as shall be suitable to Executive's position and adequate for the performance of his duties as set forth in Section 3 hereof and with the use of a Company provided automobile.
Certain Benefits. Employee shall be entitled to participate in all employee benefit programs established by Employer from time to time for employees or executives of Employer to the extent that executives or senior management employees of Employer generally are eligible to participate in such programs. Employee shall be further entitled to an annual paid vacation of four (4) weeks and other benefits in accordance with Employer's policies as from time to time established by the Board for employees and/or senior executive officers and the following: (i) medical, dental and vision insurance plans for Employee and his immediate family consistent with Employer standard; (ii) a per month automobile leasing, operating, insurance and maintenance expense allowance similar to that provided to other senior executive officers of the Employer or the cash equivalent in the form of an expense reimbursement, as might be standard to senior executives; (iii) cell phone and other communication device acquisition and operating expenses related to Employer.
Certain Benefits. Executive will be eligible to participate in all employee benefit programs established by Employer that are applicable to management personnel on a basis commensurate with Executive’s position and in accordance with Employer’s policies from time to time, but nothing herein shall require the adoption or maintenance of any such plan. Notwithstanding the foregoing, Employer shall provide full medical and dental insurance coverage for Executive. Employer shall also provide to Executive one parking space near Employer’s corporate office on a yearly basis, and Employer will pay all related parking fees.
Certain Benefits. Executive may participate in employee benefit programs established by Univar for personnel on a basis commensurate with Executive’s position and in accordance with Univar’s benefit plans and arrangements from time to time, including eligibility requirements, but nothing herein shall require the adoption or maintenance of any such plan.
Certain Benefits. Except for (i) normal increases in the ordinary course of business that are consistent with past practices and cost increases of third party providers necessary to maintain benefits at current levels that, in the aggregate, do not result in a material increase in benefits or compensation expense to MART or any of the MART Subsidiaries, (ii) as set forth in Section 5.16 of the MART Disclosure Letter, or (iii) as expressly provided in this Agreement, MART will not, and will not permit any of the MART Subsidiaries to, adopt or amend (except as may be required by law) any bonus, profit sharing, compensation, severance, termination, stock option, pension, retirement, deferred compensation, employment or other employee benefit agreements, trusts, plans, funds or other arrangements for the benefit or welfare of any trustee, director, officer or employee that increase in any manner the compensation, retirement, welfare or fringe benefits of any trustee, director, officer or employee or pay any benefit not required by any existing plan or arrangement (including without limitation the granting of stock options, restricted stock or deferred stock units) or take any action or grant any benefit not expressly required under the terms of any existing agreements, trusts, plans, funds or other such arrangements or enter into any contract, agreement, commitment or arrangement to do any of the foregoing.
Certain Benefits. The amount of any indemnification payable under this Article X shall be net of any net insurance proceeds actually paid to the Indemnified Party under any policy or policies of insurance covering the loss giving rise to the claim. The Indemnified Party will use reasonable efforts to collect any such insurance and will account to the Indemnifying Party therefor. The Parties agree to respond within a reasonable time to any inquiry by the other Party as to the status of any such insurance payment. All indemnification payments pursuant to this Article X shall be deemed adjustments to the Purchase Price.