Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s name for use by the Executive to carry out the Executive’s duties for the Employer, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amended.
Appears in 4 contracts
Samples: Employment Agreement (Oak Ridge Financial Services, Inc.), Employment Agreement (Oak Ridge Financial Services, Inc.), Employment Agreement (Tidelands Bancshares Inc)
Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s name for use by the Executive to carry carrying out the Executive’s duties for the Employerduties, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such the automobile for personal purposes, provided that the Executive renders an accounting of business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amended. The provisions of this paragraph shall not be construed to permit use of the vehicle by the Executive’s family members.
Appears in 4 contracts
Samples: Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp)
Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s name for use by the Executive to carry out the Executive’s duties for the Employerduties, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amended.
Appears in 3 contracts
Samples: Employment Agreement (First Reliance Bancshares Inc), Amended Employment Agreement (First Reliance Bancshares Inc), Employment Agreement (Silver State Bancorp)
Use of Automobile. The During the Employment Period, the Executive shall have the use of an automobile leased or titled in the EmployerCompany’s name for use by the Executive to carry in carrying out the Executive’s his duties for the EmployerCompany, the insurance and maintenance expenses of which shall be paid by the EmployerCompany. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of his business and personal use to the Employer Company in accordance with regulations under the Internal Revenue Code of 1986, as amendedamended (the “Code”).
Appears in 2 contracts
Samples: Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp)
Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s name for use by the Executive to carry out the Executive’s his duties for the Employer, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of his business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amended.
Appears in 2 contracts
Samples: Employment Agreement (Southern Community Financial Corp), Employment Agreement (Southern Community Financial Corp)
Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s name for use by the Executive to carry in carrying out the Executive’s his duties for the Employerhereunder, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of his business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amendedamended (“Code”). The provisions of this paragraph shall not be construed to permit the regular use of such vehicle by family members of the Executive.
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Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s 's name for use by the Executive to carry out the Executive’s duties for the Employer's duties, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amended.
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Use of Automobile. The Executive shall have the use of an automobile leased or titled in the Employer’s name for use by the Executive to carry out the Executive’s duties for the Employer, the insurance and maintenance expenses of which shall be paid by the Employer. As additional compensation, the Executive may use such automobile for personal purposes, provided that the Executive renders an accounting of business and personal use to the Employer in accordance with regulations under the Internal Revenue Code of 1986, as amended.. (b)
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