Compensation 3. 1 As compensation for all services to be rendered pursuant to this Agreement to or at the request of the Company, the Company agrees to pay the Employee [compensation]. The compensation shall be payable in accordance with the regular payroll practices of the Company.
3.2 The Company shall pay or reimburse the Employee for all necessary and reasonable pre-approved expenses incurred or paid by the Employee in connection with the performance of services under this Agreement. The Employee must present expense statements, vouchers, or other supporting information evidencing the nature of the expenses, and, if appropriate, the payment made by the Employee, in accordance with Company expense procedures.
Compensation 3. 1 Payments for the supply of Short Term Power and Short Term Energy shall be predicated upon the following rates: 3.11 Demand Charge For the billing demand for each calendar week at the rate of $0.85 per kilowatt for such week or if the period is less than a calendar week, at the rate of $0.14 per kilowatt per day. In the event the amount of Short Term Energy taken is reduced upon the request of the supplying party, the demand charge for the period during which such reduction is made shall be reduced $0.14 per kilowatt of reduction for each day during which any reduction is in effect. However, such reduction shall not exceed $0.85 per kilowatt for a calendar week.
Compensation 3. 01 The Corporation will compensate Executive for the duties performed by him hereunder, including all services rendered as an officer or director of the Corporation, by payment of a salary at the rate of $150,000 per annum, payable in equal installments, which the Corporation may pay at either monthly or semi-monthly intervals, and by payment of the additional compensation specified in Section 3.02.
Compensation 3. 1 Compensation During the Term of this Agreement
a. As long as Executive satisfactorily performs all of his obligations hereunder, the Company shall pay Executive an annual base salary, as determined by the compensation committee of the board of directors, payable in equal installments on the Company's regular payroll dates, which as of the date hereof is $275,000. On an annual basis, the Company's compensation committee shall review Executive's salary, but shall be under no obligation to increase Executive's salary. Executive authorizes the Company to take such deductions and withholdings from his salary as are required by law, directed by Executive, or as reasonably directed by the Company for its employees, which deductions shall include, without limitation, withholding for federal and state income taxes and social security.
b. Executive shall be entitled to fully participate in all of the employee benefit plans and programs available to other high-level executives of the Company, including, without limitation, health, dental, and life insurance benefits for Executive and Executive's dependents, pension and profit sharing programs, and vacation and sick leave benefits. However, the terms of this Agreement shall not restrict the Company's right to change, amend, modify, or terminate any existing benefit plan or program, or to change any insurance company or modify any insurance policy adopted incident to such existing benefit plan and program.
c. The Company shall provide Executive with a $400 per month automobile allowance. The Company shall furnish Executive's automobile with a cellular car telephone. Executive shall provide and maintain automobile insurance for Executive's car including collision, comprehensive liability, personal and property damage, and uninsured and underinsured motorist coverage in amounts customarily obtained to cover such contingencies in California. Executive shall provide proof of such coverage to the Company upon the Company's request.
d. The Company shall pay for or reimburse Executive for all other reasonable travel, entertainment, and other business expenses incurred or paid for by Executive in connection with the performance of his services under this Agreement. The Company shall not be obligated to make any such reimbursement unless Executive presents corresponding expense statements or vouchers and such other supporting information as the Company may from time to time reasonably request. The Company reserves the right t...
Compensation 3. .1. The Trust, on behalf of each Fund, shall pay for the Services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, the fee letter attached to each addendum (each a “Fee Letter”), which may be amended from time to time. Each Fee Letter is incorporated by reference into this Agreement.
Compensation 3. 1 Payments for the supply of Short Term Power and Short Term Energy shall be predicated upon the following rates: 3.11 Demand Charge For the billing demand for each week at the rate of $0.30 per kilowatt for such week or if the period is less than a week at the rate of $0.06 per kilowatt per day. In the event the amount of Short Term Energy taken is reduced upon request of the supplying party, the demand charge for the period during which such reduction for each day during which any reduction is in effect.
Compensation 3. 1 The reserving party shall pay the supplying party: 3.11 For any week that Short Term Power is reserved, $1.05 per kilowatt reserved; less, for each day during any part of which the amount of such Short Term Power is reduced by the supplying party, $0.18 per kilowatt of the reduction (except that in no event shall the total of such reductions in any week exceed $1.05 per kilowatt). For each period less than one week that Short Term Power is reserved, $0.18 per kilowatt reserved per day; less, for any day during any party of which the amount of Short Term Power is reduced by the supplying party, $0.18 per kilowatt of the reduction; plus 3.12 110% of the out-of-pocket costs of supplying the Short Term Energy taken during such reservation periods that comes from the supplying party's own system; plus, for energy purchased by the supplying party from another system to supply any part of the Short Term Energy taken during such reservation periods, 100% of the amount paid therefor by the supplying party plus 10% thereof, but not to exceed (a) 1.6 mills per kilowatt-hour if Indianapolis Company is the xxxplying party, or (b) 2.1 mills per kilowatt-hour if Southern Indiana Company ix xxx supplying party. Appendix II Exhibit VI SERVICE SCHEDULE F LIMITED TERM POWER (FIRM) Under Agreement Between Indianapolis Power & Light Company And Southern Indiana Gas and Electric Company
Compensation 3. 1 As compensation for the performance of Exhibit A duties herein, the Company shall pay the Executive a base salary specified in Exhibit B "Salary & Benefits", attached hereto and hereby incorporated herein. The base salary shall be identified hereinafter as "Salary." Any Salary hereunder shall be paid at regular intervals but no less frequently than bi-weekly in accordance with the Company's payroll practices. Annual increases in salary shall be determined by the Board and the CEO in their sole discretion.
Compensation 3. Section 3.1. Compensation for Services 3 Section 3.2. Payment 3 Section 3.3. Currency and Exchange Rate 3 ARTICLE IV. CONFIDENTIALITY 3 Section 4.1. Confidentiality 3
Compensation 3. Section 3.1. Compensation for Services 3 Section 3.2. Out-of-Pocket Costs 4 ARTICLE IV. CONFIDENTIALITY 4 Section 4.1. Confidentiality 4
