Expenses and Perquisites Clause Samples
The "Expenses and Perquisites" clause defines how business-related costs and additional benefits provided to an employee or contractor are handled under an agreement. It typically outlines which expenses are eligible for reimbursement, such as travel, meals, or supplies, and may specify the process for submitting receipts or obtaining prior approval. This clause ensures that both parties have a clear understanding of which costs will be covered and under what conditions, thereby preventing disputes and promoting transparency regarding compensation beyond base salary or fees.
Expenses and Perquisites. The Company shall promptly reimburse Executive for all reasonable business expenses upon the presentation of reasonably itemized statements of such expenses, in accordance with the Company’s policies and procedures now in force or as such policies and procedures may be modified generally with respect to senior executive officers of the Company. In addition, during the Employment Period, Executive shall be entitled to, at the sole expense of the Company:
(i) the use of an automobile appropriate to his position and no less qualitative than the automobile provided to him immediately prior to the date of this Agreement; and
(ii) use of a Company-provided aircraft for personal travel, in accordance with Company policy as in effect on November 16, 2006 (the “Aircraft Benefit”).
Expenses and Perquisites. In accordance with such policies as may be established and in effect from time to time, the Employer will pay or reimburse the Executive for all reasonable and necessary out-of-pocket expenses, including without limitation travel, entertainment, professional dues, and provide allowances on a basis consistent with the reimbursement allowance that the Employer provides to individuals serving in similar executive positions, subject to the presentment of appropriate documentary proof and to any applicable withholding requirements. In addition, Executive shall be provided with a monthly car expense allowance of $2,000, subject to any applicable withholding requirements. The Executive’s monthly car expense allowance shall be reviewed periodically by the Board and may be increased from time to time above the amount required by this Section 4.5 but may not be reduced below the then-current monthly car expense allowance paid to the Executive without the Executive’s consent.
Expenses and Perquisites. In accordance with the Company’s policies established from time to time, the Company will pay or reimburse the Executive for all reasonable and necessary out-of-pocket expenses, including without limitation travel, entertainment, professional dues, and provide allowances on a basis consistent with the reimbursement allowance that the Company provides to individuals serving in similar positions as the Executive, subject to the presentment of appropriate documentary proof. In addition, Executive shall be provided with a monthly car expense allowance of $500. Such expense reimbursement and perquisites shall be administered in such a way as to comply with Section 409A of the Internal Revenue Code.
Expenses and Perquisites. (a) Employee will be entitled to reimbursement, upon presentation of vouchers and/or receipts, for reasonable business expenses incurred by Employee with respect to the performance of his duties in furtherance of Employer's business as otherwise provided in this Agreement.
(b) Employee is further entitled to receive on an equal and comparable basis, all other perquisites currently provided or to be provided in the future to Employer's executive officers. Such perquisites include executive health and medical insurance plans.
Expenses and Perquisites. The Executive shall be reimbursed for reasonable out of pocket business expenses, including travel and entertainment expenses actually and properly incurred by the Executive in the course of performing his services hereunder, upon furnishing to the Corporation reasonable supporting statements and vouchers provided that where, in any financial year, the Corporation has provided to the Executive an approved budget, such expenses must not exceed the amount so budgeted without the prior written approval from the Corporation.
Expenses and Perquisites. The Company will reimburse the reasonable travel, entertainment or other expenses incurred by you in the furtherance of or in connection with the performance of your duties hereunder, in accordance with the Company's expense reimbursement policy as in effect from time to time. In addition, during the Employment Term, the Company will maintain a furnished corporate apartment for you in Houston, Texas (on a tax-neutral basis to you). You also will be eligible to use the Company's airplane for business-related travel and other business-enhancement travel pursuant to the policy adopted by the Company's Compensation Committee from time to time. With the exception of the foregoing, you will not be eligible to receive the perquisites provided to other executives.
Expenses and Perquisites. The Company shall promptly reimburse the Executive for all reasonable business expenses upon the presentation of reasonably itemized statements of such expenses, in accordance with the Company’s policies and procedures now in force or as such policies and procedures may be modified generally with respect to senior executive officers of the Company. In addition, during the Employment Period, the Executive shall be entitled to, at the sole expense of the Company, the use of an automobile appropriate to his position and no less qualitative than the Executive’s current automobile, payment by the Company of any lease payments in connection therewith and the cost of insurance and other reasonable costs related thereto. To the extent that any payments or reimbursements provided to the Executive related to the automobile expense or any other payments or reimbursements hereunder are determined to constitute taxable compensation to the Executive to which Treasury Regulation Section 1.409A-3(i)(1)(iv) would apply, such amounts shall be paid or reimbursed to the Executive promptly, but in no event later than December 31 of the year following the year in which the expense is incurred. The amount of any such expenses paid for or reimbursed in one year shall not affect the amount eligible for payment or reimbursement in any subsequent year, and the Executive’s right to such payment or reimbursement shall not be subject to liquidation or exchange for any other benefit.
Expenses and Perquisites. The Company shall promptly reimburse the Executive for all reasonable business expenses upon the presentation of reasonably itemized statements of such expenses, in accordance with the Company’s policies and procedures now in force or as such policies and procedures may be modified generally with respect to senior executive officers of the Company. In addition, during the Employment Period, the Executive shall be entitled to an automobile allowance of $75,000 per year, to cover the Executive’s lease of an automobile appropriate to his position and related costs, which allowance shall be payable in cash in approximately equal installments no less frequently than monthly, less appropriate payroll deductions and all required withholdings. The amount of any such expenses paid for or reimbursed in one year shall not affect the amount eligible for payment or reimbursement in any subsequent year, and the Executive’s right to such payment or reimbursement shall not be subject to liquidation or exchange for any other benefit. In addition, the Company shall pay or reimburse the Executive for the fees of experts (legal, accounting, financial, etc.) which were incurred by him in connection with the negotiation of this Agreement.
Expenses and Perquisites. During the Term, the Executive shall be entitled to receive prompt reimbursement of all reasonable out-of-pocket expenses properly incurred by him in connection with his duties under this Agreement, including reasonable expenses of entertainment and travel, provided that such expenses are documented and reported in accordance with the policies and procedures of the Company, at the time the expenses are incurred. In addition, during the Term, (i) the Executive shall receive reimbursement for one business class plane ticket per month from Montreal to England for each of the Executive and his spouse; provided that if the plane tickets are not used for travel to England in a given month during the Term, the Executive shall receive the value of such tickets calculated as of the last day of the applicable month in cash for travel between Montreal and New York, (ii) the Executive shall receive reimbursement for an apartment in Montreal, subject to a maximum reimbursement of CDN$5000 per month and (iii) use of an apartment in New York City (Manhattan).
Expenses and Perquisites. The Company will reimburse the reasonable travel, entertainment or other expenses incurred by Executive in the furtherance of or in connection with the performance of his duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time.