Responsibilities and Compensation. A party is only liable to the other party to the extent that an injury is caused by negligence or willful misconduct by the tortfeasor, or in accordance with the general rules of Danish law for non-participation in the proper fulfilment of the contract. In other respects, the general rules of Danish law apply. The designated railway undertaking is liable for damage to the railway infrastructure caused in connection with its traffic or other use of services. Neither Banedanmark nor the applicant shall be held liable to the other party under this contract insofar as the liability is due to circumstances beyond the party's control and which the party should not have taken into account at the signing of the contract, or should have avoided or overcome. The party wishing to invoke force majeure shall without undue delay notify the other party in writing of the occurrence and termination of the event. The parties shall seek to mitigate or prevent the event, damage or delay in accordance with Danish laws on the duty of mitigation.
Responsibilities and Compensation. (a) During the Term, Executive shall serve in the capacity as a member and Director on the Board and shall attend Board meetings, vote on Board matters and conduct himself in accordance with the Company's bylaws. In accordance with this change and modification, the Executive shall not participate in any Company benefit plans, including but not limited to welfare benefit plans or program (including, but not limited to medical, dental, disability, group life (including accidental death and dismemberment), business travel insurance plans and programs], retirement savings plan or program [including without limitation 401(k) and pension] and such other perquisites of office as the Company may from time to time an in its sole discretion make available generally to employees of similar rank as Executive. This Agreement also excludes inclusion in participation in the Company's Supplemental Executive Retirement Plan ("SERP"). The Executive shall serve as President of The Tasties, a subsidiary of the company and shall be entitled to the compensation and benefits as indicated in the original Employment Agreement if and when said subsidiary of the Company assumes operation. (b) The Company shall reimburse Executive for all reasonable, ordinary, and necessary business expenses incurred in the performance of Executive's duties hereunder in accordance with and subject to the terms and conditions of the Company's then-prevailing expense policy. As a condition precedent to obtaining such reimbursement, Executive shall provide to the Company any and all statements, bills, or receipts evidencing the expenses for which Executive seeks reimbursement, and such other related information or materials as the Company may from time to time reasonably require.
Responsibilities and Compensation. Following the completion of the acquisition of the Company by Xxxxx, you will continue in a position with responsibilities substantially similar to those you currently have. Your yearly base salary will continue at $155,100, subject to periodic review with adjustments based on your demonstrated performance, consistent with the Company's compensation practices. You will continue to be eligible for annual incentive bonuses with a target equal to 30% of your base salary. Actual awards will be determined by the Company based on an assessment of performance and achievement of applicable objectives established for that year. This determination will be consistent with the Company's customary practices and procedures under the current incentive program. We have been advised by Xxxxx that you will also be eligible to participate in the United Technologies Corporation Recognition Stock Option Program. Details of this program will be provided under separate cover. We have also been advised by Xxxxx that you will receive a special grant of 1,000 non-qualified United Technologies Corporation stock options. Future awards will be based on demonstrated performance and determined in accordance with Xxxxx'x established compensation practices. You will also continue your existing yearly car allowance of $6,000 during the term of this Agreement. If your employment is terminated without cause during the term of this Agreement, you will be eligible for a severance benefit as described below. In addition to the foregoing, you will participate in other benefit programs generally available to Company employees, including but not limited to health care, dental, life insurance, vacation, short and long-term disability.
Responsibilities and Compensation. Up until the Termination Date, you will continue to perform your duties and assist with the transition of your duties as well as work on tasks and projects as Juniper requests. You will continue to receive your base salary through the Termination Date.
Responsibilities and Compensation. Following the completion of the acquisition of the Company by Xxxxx, you will continue in a position with responsibilities substantially similar to those you currently have. Your yearly base salary will continue at $121,706, subject to periodic review with adjustments based on your demonstrated performance, consistent with the Company's compensation practices. You will continue to be eligible for annual incentive bonuses with a target equal to 30% of your base salary. Actual awards will be determined by the Company based on an assessment of performance and achievement of applicable objectives established for that year. This determination will be consistent with the Company's customary practices and procedures under the current incentive program. We have been advised by Xxxxx that you will also be eligible to participate in the United Technologies Corporation Recognition Stock Option
Responsibilities and Compensation. During the Advisory Period, you will assist with the transition of your duties and work on tasks and projects as Juniper requests. During the Advisory Period, Xxxxxxx will determine how many hours you will be required to work and you will be paid a prorated portion of base salary based on the number of hours required. You will also be eligible for a pro-rated portion of your annual cash bonus based on hours worked during the Advisory Period.
