Club Expenses. All costs and expenses for the maintenance, renovation, building, rebuilding, up keep and running of all the facilities of the Residents’ Club net of receipts on account of fees and charges (except admission fees, if any).
Club Expenses. During the Employment Term, the Company shall pay the initiation fee for Executive to become a full member of Weston Hills Country Club (full membership to include golf, tennis, fitness, and social facilities) subject to approval by the Compensation Committee of the Board whose approval shall not be withheld unreasonably or delayed. The Company shall also provide Executive with a gross-up payment so that such initiation fee payment (and any gross-up payment) does not result in Executive incurring any net expenses for taxes associated with such payment. The Company shall pay all annual or other periodic fees and dues for Executive to remain a member of such club. If Executive resigns from employment without Good Reason (as defined below), within one year of the Effective Date, any amount paid by the Company for the initiation fee referenced above shall be reimbursed by the Executive to the Company.
Club Expenses. LVSI shall reimburse Xxxxxxx for the membership initiation fees (up to a maximum of $20,000.00) and annual dues and assessment related to one club membership at a country or social club selected by Xxxxxxx in the Las Vegas area. If the initiation fee shall be in the form of a refundable bond or equity, Xxxxxxx shall repay such sum to LVSI within 90 days of the termination of his employment hereunder.
Club Expenses. The player shall not be entitled to incur any expenses on behalf of the Club without the express written permission of an Officer of the Club.
Club Expenses. The Company shall pay up to $60,000 toward the initiation fee for Executive to become a member of one private country club, golf club, tennis club or similar club or association for business use selected by Executive and approved by the Compensation Committee of the Board, which approval shall not be unreasonably withheld or delayed. The Company will also provide Executive with a gross-up payment so that such initiation fee payment (and any gross-up payment) do not result in Executive incurring any net expense for taxes associated with such payment. The Company shall pay all annual or other periodic fees and dues for Executive to remain a member of such club. Fees and expenses under this Section 4(d) are subject to an annual budget to be prepared by Executive and approved by the Compensation Committee. If Executive’s employment with the Company terminates within one year after the Effective Date for any reason other than death, disability, resignation of Executive for Good Reason (as defined below) or termination without cause (as defined below), any amount paid by the Company for the initiation fee referenced above shall be reimbursed by the Executive to the Company.
Club Expenses. In addition to other business and entertainment expenses reimbursable pursuant to subparagraph 3.6(i) above, Company shall pay all membership fees, dues and assessment for a club if Executive is requested to join a club. The foregoing notwithstanding, Company shall not be obligated to buy from Executive, or to reimburse Executive for the price of, his membership in any club of which Executive is a member prior to the Effective Date.
Club Expenses. Employer shall reimburse Employee for all of Employee's monthly membership dues during the term of this Agreement in connection with Employee's membership in a country club or health and athletic club. The beneficial ownership of Employee's membership in such club shall be exclusively that of Employee. It is understood and agreed that any and all appreciation in the value of such membership shall inure exclusively to the benefit of Employee.
Club Expenses. During the Employment Term, the Company shall pay all annual or other periodic fees and dues for Executive to remain a member of Philadelphia Country Club located in Gladwyne, Pennsylvania. If Executive resigns from employment without Good Reason (as defined below), within one year of the Effective Date, any amount paid by the Company for the annual or other periodic fees referenced above, such amounts shall be reimbursed by the Executive to the Company.
Club Expenses. Club Expenses shall be established by the adoption of an annual projected operating budget (the “Budget”). The fiscal year for the Club Expenses shall be the calendar year. On or before thirty (30) days prior to adoption of each annual the Association budget, the Club Owner shall provide the Association with the Budget setting forth the estimate of Club Expenses for the next the Association fiscal year. Commencing on the first day of the period covered by the Budget, and until the adoption of the next Budget, the estimated Club Expenses shall be allocated to the Association by multiplying Club Expenses by a fraction, the numerator of which is the total number of Homesites which have been annexed to the Community and subjected to the Declaration and the denominator of which is (i) (i) the total number of Homesites in the Community anticipated at build-out (currently estimated at four hundred six (406) Homesites) plus the total number of all other Members of the Club, not including the Association Members who have upgraded Memberships pursuant to Section 4.1.2, above, as set forth in the estimate of Club Expenses, or (ii) any greater number determined by the Club Owner from time to time. The Club Owner, in its sole and absolute discretion, may change the denominator from time to time, provided under no circumstances will the denominator be less than the number of Homesites anticipated at build-out. The amount resulting from the foregoing allocation is referred to as the “Pro Rata Portion of Club Expenses.” Within sixty (60) days following the close of the Association fiscal year, the Club Owner shall provide the Association a reconciliation of the actual pro rata portion of Club Expenses for the Association fiscal year just ending, and in the event the Pro Rata Portion of Club Expenses allocated to the Association total more than the actual pro rata portion of Club Expenses, the Club Owner shall refund the difference to the Association within thirty (30) days after the Club Owner provides the reconciliation to the Association. In the event the Pro Rata Portion of Club Expenses charged to the Association total less than the actual pro ration portion of Club Expenses, the Club Owner shall not charge the Association for the difference. The Association shall have the right, at its expense, to audit the annual reconciliation by providing the Club Owner a written request within five (5) days of receipt of the annual reconciliation. The audit shall be commenced wit...
Club Expenses. During the Employment Term, the Company shall pay the initiation fee and membership expenses for Executive to become and remain a full member of a private club of executive’s choosing (full membership to include golf, tennis, fitness, and social facilities). The Company shall also provide Executive with a gross-up payment so that such initiation fee payment (and any gross-up payment) does not result in Executive incurring any net expenses for taxes associated with such payment. The Company shall pay all annual or other periodic fees and dues for Executive to remain a member of such club. If Executive resigns from employment without Good Reason (as defined below), within one year of the Effective Date, any amount paid by the Company for the initiation fee referenced above shall be reimbursed by the Executive.
