Common use of Compensation of Directors; Expenses Clause in Contracts

Compensation of Directors; Expenses. The Directors shall not receive any compensation. However, the Directors shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board. No such payment shall preclude any Director from serving the Company in any other capacity and receiving compensation for those services.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Owl Rock Core Income Corp.), Limited Liability Company Agreement (BlackRock Capital Investment Corp), Newtek Business Services Corp.

AutoNDA by SimpleDocs

Compensation of Directors; Expenses. The Directors shall will not receive any compensation. However, the Directors shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board. No such payment shall preclude any Director from serving the Company in any other capacity and receiving compensation for those servicestherefor.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Fifth Street Finance Corp.)

Compensation of Directors; Expenses. The Directors shall not receive any compensationstated salary for their services as Directors or as members of committees, but by resolution of the Board a fixed fee and expenses of attendance may be allowed for attendance at a meeting. However, the Directors Nothing herein contained shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board. No such payment shall construed to preclude any Director from serving the Company or its affiliates in any other capacity as an Officer, agent or otherwise, and receiving compensation for those servicestherefore.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Phoenix Residential Securities, LLC)

AutoNDA by SimpleDocs

Compensation of Directors; Expenses. The Directors shall not receive any compensation. However, the Directors shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board. No such payment shall preclude any Director from serving the Company in any other capacity and receiving compensation for those services.. Section 7.07

Appears in 1 contract

Samples: Newtek Business Services Corp.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!