Common use of Business and Related Expenses Clause in Contracts

Business and Related Expenses. (i) The following arrangements shall apply whenever the Executive is required to travel outside the location where he is based in the performance of his duties under this Agreement: (1) full reimbursement shall be made to the Executive for meal expenses properly and reasonably incurred by him; (2) full reimbursement shall be made to the Executive for all travel expenses properly and reasonably incurred by him. (ii) All reasonable traveling, entertainment and other expenses reasonably incurred by the Executive in the proper performance of his duties under this Agreement, a monthly account of which accompanied by supporting vouchers, shall be rendered by the Executive to the Company and the Company shall be entitled to withhold or reclaim payment of any such expenses which in the opinion of the Board have not been reasonably or properly incurred. The Board shall consider the relevant accounts within a reasonable time after they have been rendered and indicate its approval or disapproval. The expenses shall be paid or reimbursed not more than 21 Business Days after the approval by the Board of the relevant accounts.