Company Car and Expenses. The Executive will be entitled to purchase, before the Payment Date, the car provided by the Corporation for the Executive's use, at a price calculated on the same basis as that used for the optional purchase of company cars by participants in the Corporation's Executive Automobile Plan in effect immediately prior to the Change in Control. In addition, the Corporation will pay the Executive an amount equal to the expenses that would have been incurred for the use of the car if the Executive had continued to be employed throughout the Severance Period, determined on the basis that the annual expenses for using the car are equal to the total vehicle expenses payable or reimbursable to the Executive, by the Corporation, during the calendar year preceding the calendar year in which the Termination Date occurs; provided, however, that such amount will not be less than the amount of such expenses (including any reimbursement of taxes) that would have been paid or reimbursed for such calendar year in accordance with the Corporation's policy in effect as of the Change in Control.
Company Car and Expenses. The Company will provide Executive with a sports utility vehicle or comparable company car for her business and/or personal use during the entire term of her employment with Company. It is the Company's desire to furnish Executive with a vehicle that meets her reasonable satisfaction; therefore, the Executive shall have prior approval as to any vehicle purchased for her use. The Company will pay all expenses associated with or necessary for its operation, including, but not limited to, any and all repair and gasoline costs. Said Company vehicle will be replaced on a regular basis in accordance with the Company's policy and procedures then in effect, but in any event upon the vehicle incurring in excess of 60,000 miles. Executive's use of such vehicle and Company's payment of related operation expenses may be subject to applicable state and federal withholding taxes. In such event, Executive agrees that Executive will pay the taxes through the Company's usual and customary payroll tax deductions.
Company Car and Expenses. The Company will provide Executive with vehicles for his business and personal use during the entire term of his employment with Company. It is the Company's desire to furnish Executive with vehicle(s) that meet his reasonable satisfaction; therefore, the Executive shall have prior approval as to any vehicles purchased for his use. The Company will pay all expenses associated with or necessary for such vehicles operation, including, but not limited to, any and all repair and gasoline costs. Said Company vehicles will be replaced on a regular basis in accordance with the Company's policy and procedures then in effect, but in any event upon the vehicles incurring in excess of 60,000 miles. Executive's use of such vehicles and Company's payment of related operation expenses may be subject to applicable state and federal withholding taxes. In such event, Executive agrees that Executive will pay the taxes through the Company's usual and customary payroll tax deductions.
Company Car and Expenses. At any time between the Date of Termination and the Payment Date, the Executive shall be entitled to purchase the car provided to him by the Corporation for his use, at a price calculated on the same basis as that used for the optional purchase of company cars by participants in the Corporation's Executive Automobile Plan in effect immediately prior to the Change in Control. Whether the Executive purchases such car or not, the Corporation shall pay the Executive, in cash, in a lump sum, no later than the Payment Date, an amount equal to the expenses that would have been incurred for the use of the car if the Executive had continued to be employed throughout the Severance Period, determined on the assumption that the annual expenses for using the car during each year of the Severance Period were equal to the total amount of expenses incurred by the Executive in connection with the use of the car, and payable or reimbursable by the Corporation, during the year preceding the year in which the Date of Termination occurs; provided, however, that such amount shall not be less than the amount of such expenses (including any reimbursement of taxes) that would have been paid or reimbursed for such year in accordance with the Corporation's policy in effect as of the Change in Control.
