Life Insurance. During the Employment Period, the Company will pay or reimburse Executive for the death benefit premiums on a policy of life insurance that provides up to $2,500,000 death benefit coverage in the event of the death of Executive. Executive shall be the owner of such a policy and be permitted to designate the beneficiary thereof. Executive acknowledges that he will have taxable income associated with the foregoing payments or reimbursements.

Life Insurance. The Company shall acquire and pay the applicable premium on a term life insurance policy on the life of the Executive with a benefit in the amount of Two Million Dollars ($2,000,000) payable to a beneficiary designated by the Executive, provided that the annual premium payable by the Company for such policy shall not exceed Ten Thousand Dollars ($10,000) (the “Life Premium Threshold”). To the extent the applicable annual premium would otherwise exceed the Life Premium Threshold, at the Executive’s sole option, either # the benefit payable under the policy shall be reduced to the minimum extent necessary such that the annual premium for such policy does not exceed the Life Premium Threshold, or # the Executive shall reimburse the Company for the amount of the annual premium over the Life Premium Threshold. The Executive shall cooperate with the Company to the extent necessary to acquire such term life insurance policy, including without limitation, by submitting to examinations by Company selected physicians.

Insurance and Other Related Benefits. Company shall pay for one hundred percent (100%) of all health insurance premiums under a policy covering Executive and his immediate family. During the Employment Term, the Company shall maintain on the life of Executive, provided he is insurable at standard rates, a term life insurance policy in the amount of One Million Dollars ($1,000,000.00). Executive shall have the right to designate the beneficiary or beneficiaries of such policy. In the event that Executive is not insurable during the term of this Agreement due to illness, accident, injury or other similar event, the Company shall maintain the term life insurance policy in the amount of One Million Dollars ($1,000,000.00), but Executive agrees to pay the difference between the normal standard rate premium for an equivalent insurable person and the non-standard rate which is quoted given the circumstances surrounding Executive’s reduced insurability. During the Employment Term, the Company shall also maintain for the benefit of the Executive disability insurance such that Executive will be entitled to receive monthly payments not less than the monthly payments made pursuant to Section 3(a) hereof (the “Disability Payments”) at the time of any event causing his complete or partial disability. In addition to the foregoing, Executive will be entitled to other executive benefits on the same basis as the Company provides to its other executives and customary fringe benefits and privileges that the Company makes generally available to executives.

Insurance and Other Related Benefits. Company shall pay for one hundred percent (100%) of all health insurance premiums under a policy covering Executive and his immediate family. During the Employment Term, the Company shall maintain on the life of Executive, provided he is insurable, at standard rates a term life insurance policy in the amount of One Million Dollars ($1,000,000.00). Executive shall have the right to designate the beneficiary or beneficiaries of such policy. In the event that Executive is not insurable during the term of this Agreement due to illness, accident, injury or other similar event, the Company shall maintain the term life insurance policy in the amount of One Million Dollars ($1,000,000.00), but Executive agrees to pay the difference between the normal standard rate premium for an equivalent insurable person and the non-standard rate which is quoted given the circumstances surrounding Executive’s reduced insurability. During the Employment Term, the Company shall also maintain for the benefit of the Executive disability insurance such that Executive will be entitled to receive monthly payments not less than the monthly payments made pursuant to Section 3(a) hereof at the time of any event causing his complete or partial disability.