Common use of Employee Fringe Benefits Clause in Contracts

Employee Fringe Benefits. Participation in Employer’s employee fringe benefit programs in effect from time to time for employees at comparable levels of responsibility. Participation will be in accordance with any applicable policies adopted by Employer. Employee shall be entitled to vacations, absences for illness, and to similar benefits of employment, and shall be subject to such policies and procedures as may be adopted by Employer. Without limiting the generality of the foregoing, it is initially anticipated that such benefits of employment shall include four (4) weeks vacation during each 12-month period of employment with Employer (which shall accrue monthly on a PRO RATA basis and which shall be carried forward for a period not to exceed three (3) years and otherwise in accordance with Employer’s policies); major medical and health insurance; life and disability insurance; and stock option plans for employees and members of the Board of Directors. Employer further agrees that in the event it offers disability insurance to its employees, Employer shall arrange for Employee to be covered by similar insurance.

Employee Fringe Benefits. Participation in Employer’s employee fringe benefit programs in effect from time to time for employees at comparable levels of responsibility. Participation will be in accordance with any applicable policies adopted by Employer. Employee shall be entitled to vacations, absences for For illness, and to similar benefits of employment, and shall be subject to such policies and procedures as may be adopted by Employer. Without limiting the generality of the foregoing, it is initially anticipated that such benefits of employment shall include four (4) weeks vacation during each 12-month period of employment with Employer (which shall accrue monthly on a PRO RATA basis and which shall be carried forward for a period not to exceed three (3) years and otherwise in accordance with Employer’s policies); major medical and health insurance; life and disability insurance; and stock option plans for employees and members of the Board of Directors. Employer further agrees that in the event it offers disability insurance to its employees, Employer shall arrange for Employee to be covered by similar insurance.