Employee shall be entitled to vacations, holidays and other perquisites and fringe benefits that are enjoyed by similarly situated personnel, provided that Employee will be entitled to the foregoing at a level commensurate with an executive in Employee’s position who has been employed by Employer for ten years; provided that such benefits shall in no event be less favorable than those enjoyed by Employee as Chief Executive Officer of Bats immediately prior to the execution of the Merger Agreement and set forth in the Bats Agreement. For the avoidance of doubt, Employee shall not be entitled to participate in the Chicago Board Options Exchange, Incorporated Executive Retirement Plan or any other benefit plan, perquisite or fringe benefit that has been frozen to new participants as of the Effective Date.