Corporate Plane Sample Clauses

Corporate Plane. As the Company’s most senior and strategic officer and an integral part of the Company’s business, the Company wishes to ensure the Executive’s safe and efficient air travel. Accordingly, the Executive agrees that he shall employ the Company’s corporate plane or, if not available, alternate similar private charter jet airways for all travel; it being understood that in fulfilling his obligations hereunder the Executive may permit members of his family or other third parties to accompany him. As an essential executive of the Company, these same considerations of safety and efficiency apply to the Executive’s personal travel. Accordingly, the Executive shall use the Company’s corporate plane or a private charter jet for travel for personal purposes. As the Company uses its plane or charters jets primarily for business purposes, the value to the Executive of such personal use shall be considered to be the incremental variable costs to the Company associated with such personal use, such as fuel, crew travel expenses, on-board catering, landing fees and trip-related hangar/parking charges and shall not be considered to include any fixed costs of ownership or operation such as pilot salaries, purchase costs and non-trip related maintenance.