Common Management. The parties acknowledge and agree that certain senior executives of the Company may be employees, officers or directors of both the Company and RMR. Each party shall be solely responsible for payment of compensation to such senior executives for services rendered to or on behalf of such party and the payment by the Company for services by senior executives who are also senior executives of RMR shall be approved by majority vote of the Independent Directors of the Compensation Committee of the Board of Directors of the Company.
Appears in 5 contracts
Samples: And Shared Services Agreement (Travelcenters of America LLC), And Shared Services Agreement (Five Star Quality Care Inc), Business Management and Shared Services Agreement (Five Star Quality Care Inc)
Common Management. The parties acknowledge and agree that certain senior executives of the Company may be employees, officers or directors of both the Company and RMR. Each party shall be solely responsible for payment of compensation to such 9 senior executives for services rendered to or on behalf of such party and the payment by the Company for services by senior executives who are also senior executives of RMR shall be approved by majority vote of the Independent Directors of the Compensation Committee of the Board of Directors of the Company.
Appears in 1 contract
Samples: Business Management and Shared Services Agreement (Five Star Quality Care Inc)
