iHeartMedia 2002 Annual Report Download - page 157

group health, hospitalization and disability insurance plans and other employee
welfare benefit plans in which other senior executives of the Company may
participate. There shall not be any gap in such health, hospitalization and
disability benefits.
(g) COMPANY PAYMENT OF HEALTH BENEFIT COVERAGE. The Executive will pay
the amount of premiums or other cost incurred for coverage of the Executive and
his eligible spouse and dependent family members under the Company health
benefits arrangements (consistent with the terms of such arrangement) less the
amounts, if any, otherwise payable therefor by the Company in accordance with
any uniform Company policy of paying such premiums or other cost for all
employees of the Company.
(h) LIFE INSURANCE. The Company will pay the premiums on and maintain
in effect term life insurance coverage for the Executive with a death benefit
consistent with the death benefits generally provided to other senior executives
of the Company, subject to the Executive’s insurability at standard rates. The
Executive will have the right to designate the beneficiary or beneficiaries
under the policy. Notwithstanding Paragraph 9 of this Agreement, the policy may
be assigned to a trust for the benefit of any beneficiary designated by the
Executive. There shall not be any gap in such life insurance coverage.
(i) EXPENSES. The Company will pay or reimburse the Executive for all
normal and reasonable travel and entertainment expenses incurred by the
Executive in connection with the Executive’s responsibilities to the Company
upon submission of proper vouchers in accordance with the Company’s expense
reimbursement policy applicable to senior executives. The Company will provide
the Executive with a credit card or cards to pay such travel expenses which card
or cards shall remain the property of the Company and shall be returned to the
Company upon termination of this Agreement for any reason. The Executive shall
be responsible for and shall reimburse the Company for any payments made by the
Company for the Executive’s personal, non-reimbursable expenses charged by the
Executive on any such credit card or cards. To the extent appropriate, the
Executive shall be permitted to travel on air charter flights, or on the Company
airplanes to the extent available. If the Executive uses his own airplane to
travel on Company business, the Company will reimburse the Executive in
accordance with Company guidelines for the amount it would have paid for the
Executive and any others using the Executive’s airplane and traveling on Company
business to travel via commercial airlines at the fare rates that the Executive
or others are allowed to pay in accordance with the Company’s travel policy.
(j) NEW YORK APARTMENT. The Executive will be entitled to nonexclusive
residential use of the Company-provided apartment in New York City for the term
of this Agreement. Further, the Executive shall control the reservation and use
of such apartment. If the lease term of such apartment expires and is not
renewed before the termination of this Agreement, the Executive will be entitled
to nonexclusive residential use of a Company-provided apartment in New York City
which is reasonably equivalent to the apartment now provided by the Company.
(k) CHANGE IN CONTROL. Within ninety (90) days of a Change in Control,
the Company shall pay to the Executive a bonus in a lump sum equal to two times
the Executive’s then current annual base salary. A "Change in Control" shall
mean the occurrence of any one of
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