Common use of Stock Award Plans Clause in Contracts

Stock Award Plans. During the term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any stock option, restricted stock or similar stock based compensation plans covering executives of the Company which presently exist or may come into existence hereafter (a "Stock Plan"); provided, however, that the participation of the Executive in such Stock Plans shall mean that the Executive is eligible to receive benefits and awards but shall not obligate the Company to grant the Executive any particular benefits or awards.