Common use of BONUSES AND BENEFITS Clause in Contracts

BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period: (a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine provided, however, that an annual bonus plan shall be prepared which will make a bonus of thirty three and one third percent (33 1/3%) of Base Salary payable if all bonus plan criteria are met; (b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular; (c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time; (d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility; (e) At the option of Executive each year either (1) use of a current model Company vehicle comparable to a fully equipped Cadillac, plus reimbursement of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an automobile allowance of $1,700.00 per month;

Appears in 1 contract

Samples: Executive Employment Agreement (Dailey Petroleum Services Corp)

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BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period: (a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine provided, however, that an annual bonus plan shall be prepared which will make a bonus of thirty thirty-three and one one-third percent (33 1/3%) of Base Salary base compensation payable if all bonus plan criteria are met; (b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular; (c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time; (d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility; (e) At the option of Executive each year either (1) use of a current model Company vehicle comparable to a fully equipped Cadillac, plus reimbursement of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an automobile allowance of $1,700.00 per month;

Appears in 1 contract

Samples: Executive Employment Agreement (Dailey Petroleum Services Corp)

BONUSES AND BENEFITS. In addition to the Base Salary Salary, stock options, and stock grant and option relocation expenses described above, Company Employer shall provide Executive Employee with the following during the Employment Period: (a) Bonusesbonuses, when and based upon or subject to such terms and conditions as CompanyEmployer's Board of Directors, in its sole and absolute discretion, may determine determine, provided, however, that an annual bonus plan shall be prepared which will make a bonus of thirty three and one third fifteen percent (33 1/315 %) of Base Salary base compensation payable if all bonus plan criteria are met; (b) Participation participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, Bramx Xxxloyment Agreement June 20, 1997 Page 4 5 and any other benefit, bonus or compensation plans on the same terms generally available to all of CompanyEmployer's Executives employees generally or its executive operating officers in particular; (c) Payment payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by CompanyEmployer's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with CompanyEmployer's policies and procedures of Executive on employee expense payment or reimbursement in effect from time to time; (d) Access to and use a monthly car allowance of Company's health club facility in accordance with the policies and procedures governing such facilityOne Thousand Two Hundred Dollars ($1,200); (e) At the option of Executive each year either (1) use of an Employer paid full membership in a current model Company vehicle comparable to local area country club of Employee's choice including monthly dues and any business related fees or expenses; and (f) a fully equipped Cadillacsigning bonus of Ten Thousand Dollars ($10,000), plus reimbursement payable upon execution of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an automobile allowance of $1,700.00 per month;this Agreement.

Appears in 1 contract

Samples: Management Employment Agreement (Dailey Petroleum Services Corp)

BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period: (a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine provided, however, that an annual bonus plan shall be prepared which will make a bonus of thirty thirty-three and one one-third percent (33 1/3331/3%) of Base Salary base compensation payable if all bonus plan criteria are met; (b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular; (c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time; (d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility; (e) At the option of Executive each year either (1) use of a current model Company vehicle comparable to a fully equipped Cadillac, plus reimbursement of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an automobile allowance of $1,700.00 per month;

Appears in 1 contract

Samples: Executive Employment Agreement (Dailey Petroleum Services Corp)

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BONUSES AND BENEFITS. In addition to the Base Salary and stock grant and option described above, Company shall provide Executive with the following during the Employment Period: (a) Bonuses, when and based upon or subject to such terms and conditions as Company's Board of Directors, in its sole and absolute discretion, may determine provided, however, that an annual bonus plan shall be prepared which will make a bonus of thirty three and one third percent (33 1/3%) of Base Salary base compensation payable if all bonus plan criteria are met; (b) Participation in any present or future disability, medical, health, dental, insurance, pension, profit-sharing, thrift, retirement, investment, and stock appreciation plans, and any other benefit, bonus or compensation plans on the same terms generally available to all of Company's Executives generally or its executive officers in particular; (c) Payment or reimbursement, as the case may be, of reasonable business expenses (within limits that may be established by Company's Board of Directors) incurred in connection with the performance of his duties hereunder, such expense payment or reimbursement being subject to, and made in accordance with Company's policies and procedures of Executive expense payment or reimbursement in effect from time to time; (d) Access to and use of Company's health club facility in accordance with the policies and procedures governing such facility; (e) At the option of Executive each year either (1) use of a current model Company vehicle comparable to a fully equipped Cadillac, plus reimbursement of the full cost of repairs, maintenance, gasoline, oil and cleaning, or (2) an An automobile allowance of $1,700.00 1,500.00 per month;; and

Appears in 1 contract

Samples: Executive Employment Agreement (Dailey Petroleum Services Corp)

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