Common use of Insurance Allowance Clause in Contracts

Insurance Allowance. During the Employment Term and until such time as the Company establishes a group health plan for its employees, the Company shall pay the Executive $1,200 per month, on a tax-equalized basis, as additional compensation for the purpose of Executive purchasing health coverage for himself. In addition, during the Employment Term and until such time as the Company establishes a group term life and disability insurance plan for its employees, the Company shall pay the Executive monthly, tax-equalized, an amount not to exceed $1,000 as reimbursement for a term life insurance policy plus a disability insurance policy for Executive.

Insurance Allowance. During the Employment Term and until such time as the Company establishes a group health plan for its employees, the Company shall pay the Executive up to $1,200 1,200.00 per month, on a tax-equalized basis, as additional compensation for the purpose of reimbursing Executive purchasing for health coverage for himself. In addition, during the Employment Term and until such time as the Company establishes a group term life and disability insurance plan for its employees, the Company shall pay the Executive monthly, tax-equalized, an amount not to exceed $1,000 as reimbursement for a term life insurance policy plus a disability insurance policy for Executive.

Insurance Allowance. During the Employment Term and until such time as the Company establishes a group health plan for its employees, the Company shall pay the Executive up to $1,200 per month, on a tax-equalized basis, as additional compensation for the purpose of reimbursing Executive purchasing for health coverage for himself. In addition, during the Employment Term and until such time as the Company establishes a group term life and disability insurance plan for its employees, the Company shall pay the Executive monthly, tax-equalized, an amount not to exceed $1,000 as reimbursement for a term life insurance policy plus a disability insurance policy for Executive.

Insurance Allowance. During the Employment Term and until such time as the Company establishes a group health plan for its employees, the Company shall pay the Executive $1,200 per month, on a tax-equalized basis, as additional compensation for the purpose of Executive purchasing health coverage for himself. In addition, during the Employment Term and until such time as the Company establishes a group term life and disability insurance plan for its employees, the Company shall pay the Executive monthly, tax-equalized, an amount not to exceed $1,000 as reimbursement for a $1,000,000 term life insurance policy plus a disability insurance policy for Executive.