Company Aircraft. You shall be eligible to use Company aircraft for business travel, subject to the availability of the aircraft.
Company Aircraft. The term “
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 forty (40) hours of flight time per year (with unused hours forfeited at the end of each applicable 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 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 Xxxxx has reached age 75. Xxxxx may elect to receive a lump sum cash payment equal to the present value of said 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 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. 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.
Company Aircraft. The Company may make available to Executive a Company-owned, leased, chartered or fractional private aircraft for business-related travel. 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.
Company Aircraft. Company requires Executive to use Company aircraft for personal or family use, whenever possible. Such use is important for the safety of Executive and so that Executive may remain in communications with other Company officials as necessary. Executive may use Company aircraft or charter aircraft for such uses without further reimbursement to Company. Upon Executive's termination of employment for any reason, Executive shall be entitled to use at his discretion and without cost to Executive, an aircraft, comparable in size and quality to the aircraft he is using as of this date, for 150 hours a year for three years. Upon Executive's termination of employment for any reason after a Change in Control (as defined in the 1994 LTIP), Executive shall have the option to buy any one Company aircraft at its then book value on the Company's books. If he exercises this option, Company shall reimburse him for the operating costs of the aircraft for up to 150 hours per year for three years.
