Employee Benefits Clause Example from Business Contracts

Employee Benefits. (a) BENEFIT PLANS. During the Employment Term, the Executive will be eligible to participate in any employee benefit plan adopted by the Company for the benefit of its employees generally, subject to satisfying the applicable eligibility requirements, except to the extent such plans are duplicative of the benefits otherwise provided hereunder. The Executive's participation in any such program will be subject to the terms of the applicable plan documents and Company policies. Notwithstanding the ...foregoing, the Company may modify or terminate any employee benefit plan at any time without violation of this Agreement. 2 (b) VACATIONS. During the Employment Term, the Executive will be eligible to take vacation in accordance with the Company's vacation policies as in effect from time to time. (c) BUSINESS EXPENSES. The Company will reimburse the Executive for all reasonable and necessary out-of-pocket business and travel expenses incurred by the Executive in connection with the performance of the Executive's duties hereunder in accordance with the Company's expense reimbursement policy. View More