Common use of Business Expenses and Perquisites Clause in Contracts

Business Expenses and Perquisites. Executive shall be reimbursed for all reasonable expenses incurred by Executive in connection with the conduct of the business of the Company, provided Executive properly accounts therefor in accordance with the Company’s policies. During the period of Executive’s employment under this Agreement, Executive shall also be entitled to such other perquisites as are customary for senior executives of the Company. The parties hereto acknowledge that Executive’s employment will entail substantial travel away from Executive’s residence and that Executive’s reimbursable business expenses will include reasonable travel expenses, including without limitation, reasonable costs of air travel (including use of American Airlines AAirpass or equivalent) and other transportation, weekly travel to and from Florida, parking, rental cars, hotel accommodations and meals incurred with respect to travel to and from his residence and any of the Company’s facilities outside of Miami-Dade County and Broward County, Florida and other travel associated with the performance of his duties hereunder. If it is determined by the Company that any portion of the Company’s reimbursement of the travel expenses described in the preceding sentence constitutes taxable wages for federal income and/or employment tax purposes, the Company agrees to pay Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by Executive from the amount of the travel expenses reimbursed pursuant to the preceding sentence (the “Travel Reimbursement”) and the Gross-Up Payment, after reduction for any federal, state and local income and employment taxes on the Travel Reimbursement and the Gross-Up Payment, shall equal the Travel Reimbursement. For purposes of determining the Gross-Up Payment, Executive shall be deemed to pay Federal income taxes at the highest marginal rate of Federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation to which such payment could be subject based upon the state and locality of Executive’s resident or employment, net of the maximum deduction in Federal income taxes which could be obtained from deducting such state and local taxes. The Company shall make a determination of the amount of any employment taxes required on the Gross-Up Payment.

Business Expenses and Perquisites. Executive shall be reimbursed for all reasonable expenses incurred by Executive in connection with the conduct of the business of the Company, provided Executive properly accounts therefor in accordance with the Company’s policies. During the period of Executive’s employment under this Agreement, Executive shall also be entitled to such other perquisites as are customary for senior executives of the Company. The parties hereto acknowledge that Executive’s employment will entail substantial travel away from Executive’s residence and that Executive’s reimbursable business expenses will include reasonable travel expenses, including without limitation, limitation reasonable costs of air travel (including use of American Airlines AAirpass or equivalent) and other transportation), weekly travel to and from Florida, parking, rental cars, and hotel accommodations and meals incurred with respect to in travel to and from his residence and any of the Company’s facilities outside of Miami-Dade County and Broward County, Florida and other travel associated with the performance of his duties hereunder. If it is determined by the Company that any portion of the Company’s reimbursement of the travel expenses described in the preceding sentence constitutes taxable wages for federal income and/or employment tax purposes, the Company agrees to pay Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by Executive from the amount of the travel expenses reimbursed pursuant to the preceding sentence (the “Travel Reimbursement”) and the Gross-Up Payment, after reduction for any federal, state and local income and employment taxes on the Travel Reimbursement and the Gross-Up Payment, shall equal the Travel Reimbursement. For purposes of determining the Gross-Up Payment, Executive shall be deemed to pay Federal income taxes at the highest marginal rate of Federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation to which such payment could be subject based upon the state and locality of Executive’s resident residence or employment, net of the maximum deduction in Federal income taxes which could be obtained from deducting such state and local taxes. The Company shall make a determination of the amount of any employment taxes required on the Gross-Up Payment.

Business Expenses and Perquisites. Executive shall be reimbursed for all reasonable expenses incurred by Executive in connection with the conduct of the business of the Company, provided Executive properly accounts therefor in accordance with the Company’s policies. During the period of Executive’s employment under this Agreement, Executive shall also be entitled to such other perquisites as are customary for senior executives of the Company. The parties hereto acknowledge that Executive’s employment will entail substantial travel away from Executive’s residence and that Executive’s reimbursable business expenses will include reasonable travel expenses, including without limitation, reasonable costs of air travel (including use of American Airlines AAirpass or equivalent) and other transportation, weekly frequent travel to and from FloridaNew Jersey, parking, rental cars, hotel accommodations and meals incurred with respect to travel to and from his residence and any of the Company’s facilities outside of Miami-Dade County and Broward Xxxxxx County, Florida New Jersey and other travel associated with the performance of his duties hereunder. If it is determined by the Company that any portion of the Company’s reimbursement of the travel expenses described in the preceding sentence constitutes taxable wages for federal income and/or employment tax purposes, the Company agrees to pay Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by Executive from the amount of the travel expenses reimbursed pursuant to the preceding sentence (the “Travel Reimbursement”) and the Gross-Up Payment, after reduction for any federal, state and local income and employment taxes on the Travel Reimbursement and the Gross-Up Payment, shall equal the Travel Reimbursement. For purposes of determining the Gross-Up Payment, Executive shall be deemed to pay Federal income taxes at the highest marginal rate of Federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation to which such payment could be subject based upon the state and locality of Executive’s resident or employment, net of the maximum deduction in Federal income taxes which could be obtained from deducting such state and local taxes. The Company shall make a determination of the amount of any employment taxes required on the Gross-Up Payment.

Business Expenses and Perquisites. Executive shall be reimbursed for all reasonable expenses incurred by Executive in connection with the conduct of the business of the Company, provided Executive properly accounts therefor in accordance with the Company’s policies. During the period of Executive’s employment under this Agreement, Executive shall also be entitled to such other perquisites as are customary for senior executives of the Company. The parties hereto acknowledge that Executive’s employment will entail substantial travel away from Executive’s residence and that Executive’s reimbursable business expenses will include reasonable travel expenses, including without limitation, reasonable costs of air travel (including use of American Airlines AAirpass or equivalent) and other transportation, weekly travel to and from Florida, parking, rental cars, hotel accommodations and meals incurred with respect to travel to and from his residence and any of the Company’s facilities outside of Miami-Dade County and Broward County, Florida and other travel associated with the performance of his duties hereunder. If it is determined by the Company that any portion of the Company’s reimbursement of the travel expenses described in the preceding sentence constitutes taxable wages for federal income and/or employment tax purposes, the Company agrees to pay Executive an additional amount (the “Gross-Gross- Up Payment”) such that the net amount retained by Executive from the amount of the travel expenses reimbursed pursuant to the preceding sentence (the “Travel Reimbursement”) and the Gross-Up Payment, after reduction for any federal, state and local income and employment taxes on the Travel Reimbursement and the Gross-Up Payment, shall equal the Travel Reimbursement. For purposes of determining the Gross-Up Payment, Executive shall be deemed to pay Federal income taxes at the highest marginal rate of Federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation to which such payment could be subject based upon the state and locality of Executive’s resident or employment, net of the maximum deduction in Federal income taxes which could be obtained from deducting such state and local taxes. The Company shall make a determination of the amount of any employment taxes required on the Gross-Up Payment.