Employee Benefits Clause Example with 4 Variations from Business Contracts

Employee Benefits. (a) Insurance and Employee Programs. During Employee’s employment with the Company, Employee shall be eligible for all employee benefit programs (including any retirement plan, life insurance, group medical and dental, and short-term and long-term disability policies, plan and programs) established and maintained for the benefit of the Company’s employees of comparable rank and status as Employee, subject to the provisions of such plans and programs. (b) Expense Reimbursement. During Employee’s ...employment with the Company, the Company shall reimburse Employee for all reasonable business expenses incurred by Employee in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment, cell phone and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 1 (c) Equity Grants. Effective beginning in the fourth quarter of 2017, Employee is entitled to receive a stock option to purchase 25,000 shares of Common Stock of the Company each fiscal quarter; provided, however, that Employee is employed by the Company on the date of the grant of such stock option. Such options shall have an exercise price equal to the closing price of the Company’s Common Stock on the date of grant on the OTCQB (or stock exchange), a vesting period of one year from the date of grant, and a term of five years Such additional stock options will be granted under the Plan and will be subject to the terms and conditions of the Plan and the applicable stock option agreement for such stock options (d) Paid Time Off. During Employee’s employment with the Company, Employee shall be entitled to paid vacation and holidays in accordance with the Company’s policy. Notwithstanding any Company policy, provided, however, that at all times Employee shall will be entitled to ten (10) not less than four 4 weeks of paid vacation per calendar year. year during his employment with the Company. Employee shall also be entitled to such periods of sick leave as is customarily provided by the Company to its employees of comparable rank and status of Employee. Up to two weeks of accrued, unused paid time off may be carried over each employment anniversary date. Any unused paid time off will be paid to Employee upon Employee’s termination of employment by Employee for any reason or by the Company without cause. (e) (d) Withholding. All amounts payable to Employee as compensation hereunder shall be subject to all required and customary employment and income withholding obligations by the Company. View More

Employee Benefits. (a) Insurance and Employee Programs. During Employee’s employment with the Company, Employee shall be eligible for all employee benefit programs (including any retirement plan, life insurance, group medical and dental, and short-term and long-term disability policies, plan and programs) established and maintained for the benefit of the Company’s employees of comparable rank and status as Employee, subject to the provisions of such plans and programs. (b) Expense Reimbursement. During Employee’s ...employment with the Company, the Company shall reimburse Employee for all reasonable business expenses incurred by Employee in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment, cell phone and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 1 (c) Equity Grants. Effective beginning in the fourth quarter of 2017, Employee is entitled to receive a stock option to purchase 25,000 shares of Common Stock of the Company each fiscal quarter; provided, however, that Employee is employed by the Company on the date of the grant of such stock option. Such options shall have an exercise price equal to the closing price of the Company’s Common Stock on the date of grant on the OTCQB (or stock exchange), a vesting period of one year from the date of grant, and a term of five years Such additional stock options will be granted under the Plan and will be subject to the terms and conditions of the Plan and the applicable stock option agreement for such stock options (d) Paid Time Off. During Employee’s employment with the Company, Employee shall be entitled to paid vacation and holidays in accordance with the Company’s policy. Notwithstanding any Company policy, provided, however, that at all times Employee shall will be entitled to ten (10) not less than four (4) weeks of paid vacation per calendar year. year during his employment with the Company. Employee shall also be entitled to such periods of sick leave as is customarily provided by the Company to its employees of comparable rank and status of Employee. Up to two weeks of accrued, unused paid time off may be carried over each employment anniversary date. Any unused paid time off will be paid to Employee upon Employee’s termination of employment by Employee for any reason or by the Company without cause. (e) 1 (d) Withholding. All amounts payable to Employee as compensation hereunder shall be subject to all required and customary employment and income withholding obligations by the Company. View More

Employee Benefits. (a) Insurance and Employee Programs. During Employee’s employment with the Company, Employee shall be eligible for all employee benefit programs (including any retirement plan, life insurance, group medical and dental, and short-term and long-term disability policies, plan and programs) established and maintained for the benefit of the Company’s employees of comparable rank and status as Employee, subject to the provisions of such plans and programs. 1 (b) Expense Reimbursement. During Employee’...s employment with the Company, the Company shall reimburse Employee for all reasonable business expenses incurred by Employee in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment, cell phone and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 1 (c) Equity Grants. Effective beginning in the fourth quarter of 2017, (1) Employee is entitled to receive a stock shall be granted an option to purchase 25,000 50,000 shares of the Company’s Common Stock of the Company each fiscal quarter; provided, however, that Employee is employed by the Company on the date of this Agreement. The option shall vest as to 1/12 of the shares subject to the option on each monthly anniversary of the date of grant, such that the option shall be fully vested one year after the grant date. In the event of such stock option. Such options the termination of Employee’s service as Interim Chief Executive Officer, vesting of the option shall cease but the option shall remain exercisable until six months following the termination of Employee’s service with the Company in any other capacity (such as a director). The option shall have an exercise price equal to the closing price of the Company’s Common Stock on the date of grant OTCQX on the OTCQB (or stock exchange), a vesting period of one year from the date of grant, and a term of five years Such additional stock options will grant. The option shall be granted under the Company’s 2014 Equity Incentive Plan (the “Plan”) and will shall be subject to the terms and conditions of the Plan and the applicable stock option agreement for such stock options Initial Options. (2) Employee shall also be entitled to receive additional equity grants from the Company, as determined by the Company’s Board of Directors from time to time, for service on the Board of Directors (including as Executive Chairman of the Board of Directors). (d) Paid Time Off. During Employee’s employment with the Company, Employee shall be entitled to paid vacation and holidays in accordance with the Company’s policy. Notwithstanding any Company policy, provided, however, that at all times Employee shall will be entitled to ten (10) not less than four (4) weeks of paid vacation per calendar year. year during his employment with the Company. Employee shall also be entitled to such periods of sick leave as is customarily provided by the Company to its employees of comparable rank and status of Employee. Up to two weeks of accrued, unused paid time off may be carried over each employment anniversary date. Any unused paid time off will be paid to Employee upon Employee’s termination of employment by Employee for any reason or by the Company without cause. (e) Withholding. All amounts payable to Employee as compensation hereunder shall be subject to all required and customary employment and income withholding obligations by the Company. View More

Employee Benefits. (a) Insurance and Employee Programs. During Employee’s employment with the Company, Employee shall be eligible for all employee benefit programs (including any retirement plan, life insurance, group medical and dental, and short-term and long-term disability policies, plan and programs) established and maintained for the benefit of the Company’s employees of comparable rank and status as Employee, subject to the provisions of such plans and programs. (b) Expense Reimbursement. During Employee’s ...employment with the Company, the Company shall reimburse Employee for all reasonable business expenses incurred by Employee in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment, cell phone and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 1 (c) Equity Grants. Effective beginning Employee shall be granted options to purchase 300,000 shares of the Company’s Common Stock (the “Initial Options”) on the date of this Agreement. The Initial Options shall have an exercise price equal to the closing price of the Company’s Common Stock on the OTCQB on the date of grant, with one-third of the shares underlying the Initial Options vesting 1 on each yearly anniversary of the date of grant. The Initial Options shall be granted under the Company’s 2014 Equity Incentive Plan (the “Plan”) and shall be subject to the terms and conditions of the Plan and the applicable stock option agreement for such Initial Options. The vesting of the Initial Options shall accelerate upon (i) the termination of Employee’s employment by the Company without Cause, or (ii) the occurrence of a Change in Control (as defined in the fourth quarter of 2017, Plan). In addition to the Initial Options, during his employment with the Company, Employee is shall be entitled to receive a stock an additional option to purchase 25,000 shares of the Company’s Common Stock of the Company each fiscal quarter; provided, however, that Employee is employed by the Company quarter beginning on the date second fiscal quarter of the grant of such 2018. Such additional stock option. Such options shall have an exercise price equal to the closing price of the Company’s Common Stock on the date of grant on the OTCQB (or stock exchange), a vesting period of one year from exchange) on the date of grant, and a term with the shares underlying such stock options vesting in full on the first yearly anniversary of five years the date of grant. Such additional stock options will be granted under the Plan and will be subject to the terms and conditions of the Plan and the applicable stock option agreement for such stock options options. (d) Paid Time Off. During Employee’s employment with the Company, Employee shall be entitled to paid vacation and holidays in accordance with the Company’s policy. Notwithstanding any Company policy, provided, however, that at all times Employee shall will be entitled to ten (10) not less than four (4) weeks of paid vacation per calendar year. year during his employment with the Company. Employee shall also be entitled to such periods of sick leave as is customarily provided by the Company to its employees of comparable rank and status of Employee. Up to two weeks of accrued, unused paid time off may be carried over each employment anniversary date. Any unused paid time off will be paid to Employee upon Employee’s termination of employment by Employee for any reason or by the Company without cause. (e) Withholding. All amounts payable to Employee as compensation hereunder shall be subject to all required and customary employment and income withholding obligations by the Company. View More