Employee and Fringe Benefits. During the Term, the Executive shall be entitled to participate in all employee benefit plans, programs and arrangements, and all fringe benefits and perquisites, made available generally to other senior executives of the Company. The Executive shall be entitled to participate in all such plans, programs, arrangements, fringe benefits, and perquisites at a level, and on terms and conditions, that are commensurate with his positions and responsibilities at the Company and no less favorable to him than to other senior executives of the Company generally. The Executive shall be entitled to post-retirement welfare and other benefits on no less favorable a basis than that applying generally to other senior executives of the Company. Nothing in the preceding three sentences of this Section 8(a) shall be construed to require the Company to establish or maintain any particular employee benefit plan, program or arrangement, or any particular fringe benefit or perquisite, except as expressly set forth elsewhere in this Agreement. The Executive also shall be entitled, during the Term, to (i) continuation of automobile benefits as such benefits are set forth in the offer letter dated October 23, 2001 from Gert Caspritz to the Executive; (ii) receive such additional fringe bxxxxxxx xxx xerquisites as the Company may, in its discretion, from time to time provide; and (iii) no less than twenty (20) days' paid vacation per calendar year (which, if not used, may be carried over from year to year, up to a maximum of forty (40) accrued vacation days).
Employee and Fringe Benefits. (a) In addition to your other compensation and subject to the terms and conditions of such employee benefit and fringe benefit plans, during the Term you will be entitled to receive from the Trust the same employee benefits, including but not limited to 401(k) plan, medical, dental, disability and life insurance and fringe benefits, as are generally made available from time to time to other executive officers of the Trust. In addition, during the Term your appropriate business expenses incurred on behalf of the Trust will be reimbursed in accordance with the Trust’s policies and procedures. You will be entitled to at least four (4) weeks of paid vacation annually, plus, if applicable, such paid holidays, sick leave (if any) and personal days (if any) as the Trust may provide for in its policies. During the Term, the Trust agrees to pay your full individual membership dues, or corporate membership dues that provide you the privileges of individual membership, for the National Association of Real Estate Investment Trusts and the International Council of Shopping Centers. You agree to participate to the extent practicable and consistent with your other duties in the activities of such organizations for the benefit of the Trust. Finally, with respect any liabilities or claims asserted against you in your capacity as an officer or trustee of the Trust, you will be covered by the indemnification and liability insurance coverages referred to in paragraph 9(h) below. In connection with any such asserted liabilities and claims, you will also have the right to the advancement by the Trust to you of legal fees and expenses on the same basis and to the same extent as any other executive officer or trustee of the Trust. The Trust may not materially reduce the benefits provided in this paragraph 4(a) during the two (2) year period following a Change in Control.
Employee and Fringe Benefits. During his employment hereunder, Executive shall be eligible to participate in the employee benefit and fringe benefit plans and programs maintained by the Company for its senior executives at a level comparable to that of other senior executives of the Company.
Employee and Fringe Benefits. During the term of this Agreement, Company or an affiliate shall:
Employee and Fringe Benefits. During the Employment Period, the Executive shall be eligible to participate in the employee benefit plans and programs of the Company as in effect from time to time on the same basis as such employee benefits are provided to the other senior executives of the Company (the “Peer Executives”) from time to time; provided that the Company shall provide the Executive with vacation time and use of aircraft and an automobile allowance, each at the same level as those benefits were available to the Executive immediately prior to the Effective Date. The Executive shall continue to be entitled to the benefits under the Life Insurance Endorsement Method Split Dollar Plan Agreement, dated April 1, 2002, as amended. During the Employment Period, the Executive shall continue to have access to the country club that was available to him through the Seller’s membership prior to the Effective Date, and, following the Employment Period, the Company will use its reasonable efforts to facilitate his purchase of such club membership at fair market value and subject to the terms of the club membership contract. In addition, the Purchaser and the Company acknowledge and confirm that the Executive will be entitled to the accrued benefit (taking into account any additional accrual in respect of 2012) under the PNB Financial Bank Supplemental Executive Pension Plan (“SEPP”) as it may be amended and/or terminated pursuant to the terms of the Merger Agreement, and the Executive acknowledges that the rights under Section 3.01(b) of the SEPP shall not be applicable in connection with the Merger.
Employee and Fringe Benefits. Subject to continued employment, the Executive shall be eligible to participate in the employee welfare plans and programs of the Company as in effect from time to time on the same basis as such employee welfare plans are generally provided to employees of the Company from time to time.
Employee and Fringe Benefits. During the Employment Period, Mr. Xxxxxxxxx xxxll be eligible to participate in all employee and fringe benefit plans for which he is otherwise eligible as an employee of the Company, which participation shall be governed by the terms of the relevant plans.
Employee and Fringe Benefits. During Employee’s employment with the Company, Employee will be eligible to participate in the Company’s employee benefit programs in accordance with the terms and conditions of each plan. All benefits plans may be amended by the Company from time to time, at the Company’s discretion. Without limiting the foregoing, Employee will be eligible to participate in the Company’s deferred compensation plan and any successor plan in accordance with and subject to the terms and limitations of such plan(s).
