Automobile Expenses. (i) The Bank shall provide the Executive with a company owned automobile. Such automobile will be furnished in accordance with existing executive automobile policy as approved by the Board of Directors. All expenses, including but not limited to insurance, maintenance, repairs, fuel, and lubrication services, shall be provided by the Bank. (ii) Monthly or not more than thirty (30) days after the expenses are incurred, the Bank shall pay or reimburse the Executive for any gasoline, oil and maintenance or repair expenses which the Executive incurs directly in the operation of the automobile provided hereunder.
Appears in 6 contracts
Samples: Employment Agreement (First Bancorp /Pr/), Employment Agreement (First Bancorp /Pr/), Employment Agreement (First Bancorp /Pr/)
