Common use of Country Club Clause in Contracts

Country Club. The Company will pay (or reimburse the Executive for) or cause the Employer to pay (or reimburse the Executive for) the Executive’s country club initiation fee and dues incurred during the Term on such basis as may be determined by the Board of Directors of the Company or its designee from time to time. Notwithstanding the foregoing, the amount of benefits provided pursuant to this Section 4(c) in any one calendar year may not affect the amount of benefits to be provided hereunder for any other calendar year. To the extent the Company or the Employer reimburses the Executive for any such fees or dues, such reimbursement will be made as soon as administratively practicable after the expenses are incurred, but in no event later than the last day of the year following the year in which the Executive incurs the reimbursable expense.