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Benefits Payments
Benefits Payments contract clause examples

Benefits. You shall participate in all [[Organization A:Organization]] vacation, medical, dental, life insurance, long-term disability insurance, retirement, long-term incentive and other benefit plans and programs applicable generally to other senior executives of [[Organization A:Organization]] and its subsidiaries as [[Organization A:Organization]] may have or establish from time to time and in which you would be entitled to participate under the terms of the plans. This provision shall not be construed to either require [[Organization A:Organization]] to establish any welfare, compensation or long-term incentive plans, or to prevent the modification or termination of any plan once established, and no action or inaction with respect to any plan shall affect this Agreement.

During the Employment Term, you shall be entitled to participate in such life and medical insurance, pension and other employee benefit plans as the [[Organization B:Organization]] may have or establish from time to time and in which other [[Organization B:Organization]] executives with corporate-wide responsibilities are eligible to participate. The foregoing, however, shall not be construed to require [[Organization A:Organization]] or any of its subsidiaries to establish any such plans or to prevent the modification or termination of such plans once established, and no such action or failure thereof shall affect this Agreement; provided that no such modification or termination shall be applicable to you unless also equally applicable to all other [[Organization B:Organization]] executives with corporate-wide responsibilities. All benefits you may be entitled to as an employee of [[Organization A:Organization]] shall be based upon your Salary and not upon any bonus compensation due, payable or paid to you hereunder, except where the benefit plan expressly provides otherwise. You shall be entitled to four (4) weeks paid vacation during each calendar year during the Employment Term.

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