Affiliate Compensation. The Company will not, and will not permit any of its Subsidiaries, to pay to any natural Person that is an Affiliate of the Company in the form of compensation to such Affiliate in his or her capacity as an officer of the Company if, as a result of such payment, the Company would breach one or more of the covenants, obligations or agreements of the Company set forth herein or in the Warrants. In addition, the Company will maintain a compensation committee composed of outside directors who are not employees of the Company or any of its Subsidiaries. The compensation committee will review the annual salary, bonus, stock options and other benefits of the Company's senior executives to ensure that they are commensurate with the real estate service industry and competitive factors.
Appears in 4 contracts
Samples: Note Purchase Agreement (Kennedy Wilson Inc), Note Purchase Agreement (Kennedy Wilson Inc), Note Purchase Agreement (Kennedy Wilson Inc)