The Reimbursement Proposal Clause Samples
The Reimbursement Proposal clause outlines the process by which one party can formally request repayment for expenses incurred on behalf of another party. Typically, this clause specifies the required documentation, such as receipts or invoices, and sets deadlines for submitting reimbursement requests. Its core function is to ensure transparency and fairness in handling expense reimbursements, reducing disputes by clearly defining the procedure and expectations for both parties.
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The Reimbursement Proposal. At the 2005 Annual Meeting, the Chairman of the 2005 Annual Meeting will submit, for stockholder approval, a proposal recommending to the Vesta Board that Newcastle Partners be reimbursed for up to $400,000 of the expenses it has incurred in connection with its solicitation of proxies for the 2005 Annual Meeting (the “Reimbursement Proposal”). Both ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, III and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ agree to abstain from voting their shares of Vesta Common Stock, whether held directly or indirectly, on the Reimbursement Proposal and shall not authorize any other person to vote on the Reimbursement Proposal.