Employee Benefits Clause Example from Business Contracts

Employee Benefits. (a) BENEFIT PLANS. During the Employment Term, the Executive shall be entitled to participate in any employee benefit plan that the Company has adopted or may adopt or maintains or contributes to for the benefit of its employees generally, subject to satisfying the applicable eligibility requirements, and except to the extent such plans are duplicative of the benefits otherwise provided hereunder. The Executive's participation will be subject to the terms of the applicable plan documents and gen...erally applicable Company policies. Notwithstanding the foregoing, the Company may modify or terminate any employee benefit plan at any time. (b) BUSINESS EXPENSES. Upon presentation of reasonable substantiation and documentation as required by the Company's expense reimbursement policies, that the Company may modify from time to time, the Executive shall be reimbursed for all reasonable out-of-pocket business expenses incurred and paid by the Executive during the Employment Term and in connection with the performance of the Executive's duties hereunder or otherwise incurred at the direction of the Company. (c) VACATION. The Executive shall be entitled to take vacation in accordance with the Company's policy then in effect. View More