Company Airplane. Employee will be entitle to reasonable use of the Company’s private airplane, subject to availability determined by the Company’s business needs and the ranking of Company employees who are entitled to use the airplane. Use of the airplane solely for business purposes will not be treated as compensation to Employee. Use of the airplane with a guest or for other personal matters will be treated as compensation to Employee, and will be reported on an IRS W-2 Form issued to Employee. The Compensation Committee of the Company’s Board of Directors will have sole discretion (i) to determine whether or not Employee’s use of the airplane will be treated as compensation to Employee, (ii) to determine the amount of compensation that will be attributed to Employee, in accordance with IRS regulations, and (iii) to put limitations on Employee’s use of the airplane for purposes treated as compensation to Employee.
Company Airplane. During the Term, Executive will be entitled to use of the Company’s airplane for travel to and from the Covington, Kentucky metropolitan area, to and from his residences, and for Company business.
Company Airplane. Xx. Xxxxx shall be authorized to use the Company’s airplane for both business and personal use. The use of the Company’s airplane by Xx. Xxxxx shall be subject to the approval of the Chief Executive Officer of the Company, such approval not to be unreasonably withheld.
Company Airplane. The Officer shall be entitled to use a Grainger airplane for personal flights within the continental United States, such trips to be made prior to September 30, 2004 and upon the prior authorization of the Chairman of the Board and Chief Executive Officer of Grainger. The Officer will reimburse Grainger for such airplane use.
Company Airplane. During the Term of Employment, the Executive shall be entitled to use the Company's airplane, provided the Company owns an airplane at such time, for up to 15 (fifteen) hours of flight time per calendar year, and the Executive shall reimburse the Company for the value of his usage of such airplane, such value to be equal to the minimum amount that would be required to be paid for such usage in order that the usage would not result in taxable income to the Executive for Federal income tax purposes based upon applicable IRS guidelines then in effect.
Company Airplane. Post, Holdings and Services shall make available to Executive each calendar year for his business and personal use a Citation VII for 50 hours, a Falcon 2000 for 25 hours and a King Air B200 for 25 hours or shall make such aircraft available for such other number of hours or shall make such other types of aircraft available for such other number of hours as agreed upon from time to time by Post and Executive; provided, however, no hours used by Executive before February 1, 2002 shall count against Executive's use limits for 2002. Any personal use of an aircraft pursuant to this Section 2.5(e) shall be subject to the applicable tax rules for personal use.
Company Airplane. Executive shall have the authority to use Company-owned aircraft for business and personal travel during his employment with the Company. In the event that use by the Executive of the Company-owned aircraft during his employment results in income imputed to Executive, the Company will provide a gross-up to Executive of his compensation to offset Executive's tax obligation for imputed income resulting from this paragraph 6(g).
Company Airplane. During the Consulting Period, the Consultant shall be permitted the limited, personal use of the Company’s corporate aircraft. Any such use shall be subject to the Company’s policies for use of corporate aircraft and shall be scheduled with the prior approval of the Company. Such use shall be limited to an aggregate of 37.5 hours of air travel during the Consulting Period. In addition, the Company shall make cash payments to the Consultant sufficient to make him whole, on an after-tax basis, for all income taxes imposed on him as a result of such usage.
Company Airplane. Post, Holdings and Services shall make available to Executive for his business and personal use a Falcon 2000 for 100 hours in each consecutive 12 month period starting on July 1, 2002 or shall make such aircraft available for such other number of hours or shall make such other aircraft available for such other number of hours as agreed upon from time to time by Post and Executive. Any personal use of an aircraft pursuant to this Section 2.5(e) shall be subject to the applicable tax rules for personal use.
Company Airplane. For a period of time until Executive relocates to New Jersey, but not to extend beyond September 30, 2003, she will be authorized to use a Company provided plane (plane to be provided will be in the class of "corporate jet aircraft") to commute from Denver or Lake Tahoe to New Jersey and from New Jersey to Denver or Lake Tahoe (one round trip per week). To the extent that the use of the Company plane is considered taxable income to Executive the Company will provide a tax allowance to offset the Federal and state Income and Medicare portion of FICA tax impact of this payment (to the extent not otherwise deductible) and an additional allowance to offset the Federal and state Income and Medicare portion of FICA tax impact of the tax allowance itself. The Company also agrees that Executive may designate one other person to travel with her on a Company provided plan for three house-hunting trips during this period. Imputed income resulting from this person's travel will also be grossed-up as described above in this paragraph. As an OG member Executive will have priority use of corporate aircraft for business purposes. Impact of Company Restructuring on Restricted Stock Units, Restricted Shares, Stock Options and Performance Shares. In the event that AT&T Wireless and AT&T Broadband become independent companies from AT&T Corp. through a divestiture, sale or some similar means, all grants made under this Agreement in the form of Restricted Stock Units, Restricted Shares, Stock Options and Performance Shares based on AT&T Corp. stock shall be treated in accordance with the plan developed and approved by the Company's Board of Directors as such plan is applicable to equity granted in 2001 to Executive and other Company executives . Change in Control. In the event of a Change in Control of the Company, severance payments to Executive shall be governed by the Change in Control provisions applicable to OG members approved by the Company's Board of Directors on October 25, 2000.
