Common use of Airplane Clause in Contracts

Airplane. The Executive agrees to execute and deliver an Aircraft Time Sharing Agreement with the Company and the Parent regarding use of an aircraft owned by any Company Entity, as may be in effect from time to time. During the Employment Period, subject to having executed an Aircraft Time Sharing Agreement, in addition to the other compensation payable under this Agreement, the Executive shall be eligible to use such aircraft, without reimbursement to the Company Entity, for up to fifty (50) hours of personal use in each calendar year. In the event that the Executive exceeds this amount of personal use in the applicable calendar year, the Executive shall reimburse the applicable Company Entity for such personal use in accordance with the applicable policy regarding airplane usage and the Executive’s Aircraft Time Sharing Agreement with the Parent and the Company.

Airplane. The Executive agrees to execute and deliver an Aircraft Time Sharing Agreement with the Company and the Parent regarding use of an aircraft owned by any Company Entity, as may be in effect from time to time. During the Employment Period, subject to having executed an Aircraft Time Sharing Agreement, in addition to the other compensation payable under this Agreement, the Executive shall be eligible to use such aircraft, without reimbursement to the Company Entity, for up to fifty one hundred (50100) hours of personal use in each calendar year. In the event that the Executive exceeds this amount of personal use in the applicable calendar year, the Executive shall reimburse the applicable Company Entity for such personal use in accordance with the applicable policy regarding airplane usage and the Executive’s Aircraft Time Sharing Agreement with the Parent and the Company.