Company Aircraft Sample Clauses

Company Aircraft. You shall be eligible to use Company aircraft for business travel, subject to the availability of the aircraft.

Company Aircraft. During the Employment Term, in addition to business use appropriate and necessary to carrying out the Company’s business, Executive shall be entitled to personal use of the Company’s aircraft and any tax gross-ups and/or other personal benefits associated with such personal usage in accordance with and as set forth in any Company aircraft usage policy, as may be amended from time to time by the Board in its reasonable and good faith discretion.

Company Aircraft. To the extent the Company owns or leases on a full-time basis an aircraft for business use, Employee is entitled to reasonable personal use of aircraft that is leased, owned or maintained by the Company; provided, that such use does not interfere with bona-fide business of the Company. For purposes of this Section, reasonable use shall include up to twenty (20) hours of flight time per year, with any unused hours in one year being available for use in a later year. The charge for such personal use shall be accounted for consistently with past practices of the Company. Employee shall not be entitled to any remuneration for unused hours hereunder upon termination of employment or otherwise.

Company Aircraft. The Company shall make available to Executive a Company-owned or leased private aircraft for business-related travel and, when such aircraft is available, for personal use. The use by Executive of any Company aircraft shall at all times be subject to Company policies and procedures and to the availability of such aircraft. Executive shall generally have first priority among Company employees for business usage of Company aircraft. Executive’s use of Company aircraft for personal use shall be charged to Executive at the Company’s operating cost, except as otherwise agreed by the Company and Executive in writing; provided, however, the Company shall provide Executive up to $500,000 as a credit for personal use of aircraft during the first twelve (12) months of this Agreement, which shall be imputed to Executive as income in accordance with the Standard Industry Fare Level formula amount applicable under Treasury Regulation Section 1.61-21(g)(5).

Company Aircraft. So long as Employer or an Affiliate of Employer owns an interest in, or leases, a private aircraft, Employer will, upon reasonable advance notice and provided that such aircraft is not required at such times for business purposes, make such aircraft available to Executive and his immediate family members, for up to 30 flight hours per year, for his and such immediate family members’ personal use, in each case at no cost to Executive other than any applicable personal income taxes payable in connection therewith. An amount equal to the related benefit of such personal use of such aircraft will be included in Executive’s taxable income as required by applicable provisions of the Code and the regulations promulgated thereunder. For the avoidance of doubt, Executive shall not be entitled to receive, and Employer shall have no obligation to pay, any tax gross up in respect of this benefit.

Company Aircraft. During the term of your employment, you may use the Company’s aircraft for business reasons in accordance with the Company’s policies applying to the key executives of the Company. You agree to reimburse the Company for any personal use of the Company’s aircraft.

Company Aircraft. The limited use of Company aircraft (or aircraft operated by any successor in interest to the Company) as provided herein shall continue throughout the Severance Period and shall continue thereafter until such time as ▇▇▇▇▇ has reached age 75. ▇▇▇▇▇ may elect to receive a lump sum cash payment equal to the present value of said benefit.

Company Aircraft. Executive shall be entitled to personal use of the Company's private airplane for up to 100 hours per year plus up to $35,000 per year in airplane related expenses, (pilots lodging, meals and other incidental expenses related to operation of the airplane) as part of his compensation, and such compensation shall include additional amounts to approximate the federal and any state income taxes applicable to such additional compensation. If Company does not have available a Company-owned or leased private airplane, then Executive may in the alternative, charter on the same compensation terms herein discussed, a private airplane substantially similar to the type of plane primarily used by the Company for up to the aggregate number of hours of private use per year when combined with actual use of Company-owned or leased airplane during such year, equivalent to the costs of 100 hours of such personal use at the preferential use rate offered to the Company by a private airplane transportation provider for the corporate lease of such airplanes. If personal use of a Company-owned or leased private airplane by Executive exceeds 100 hours per year or when combined with Executive's use of a chartered airplane, aggregate use exceeds the cost of 100 hours of such use per year at the Company's preferential use rate, then Executive shall reimburse the Company for the incremental cost of such excess use.

Company Aircraft. M&I shall provide Executive with access to M&I aircraft, at M&I expense, provided, however, that Executive’s unreimbursed use of the aircraft shall be limited to (i) direct M&I business use or (ii) personal use subject to an annual maximum of 40 hours. Should Executive’s usage of M&I aircraft exceed the amount set forth in the prior sentence, Executive shall reimburse M&I for the excess, valued based on the net incremental cost of such usage as determined for securities law reporting purposes at such time.