Common use of Executive Benefits; Expenses Clause in Contracts

Executive Benefits; Expenses. During the Employment Period, Executive shall be entitled to receive any fringe benefits and perquisites which may be or become applicable to the Company's executive employees, including but not limited to participation in the Company's Key Employee Stock Compensation Program, and any other stock option or incentive plans adopted by the Board of Directors, a reasonable expense account, and any other benefits and perquisites which are commensurate with the responsibilities and functions to be performed by Executive under this Agreement. The Company shall reimburse Executive for all out-of-pocket expenses which Executive shall incur in connection with his services for the Company. During the Employment Period, Executive shall be entitled to the use of a Company automobile in accordance with the Company's practices in effect prior to the Change of Control Date for providing automobiles to its executives. In addition, during the Employment Period, Executive shall be entitled to legal and financial planning benefits consistent with benefits made available by the Company to its executives prior to the Change of Control Date.

Appears in 4 contracts

Samples: Employment Agreement (Michaels Stores Inc), Employment Agreement (Michaels Stores Inc), Employment Agreement (Michaels Stores Inc)

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