Compensation of Managers; Expenses. The Board shall have the authority to fix the compensation of Managers. [Select one] □ The Managers may be paid their expenses, if any, of attendance at meetings of the Board, which may be a fixed sum for attendance at each meeting of the Board, or a stated salary as Manager. No such payment shall preclude any Manager from serving the Company in any other capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings. □ There shall be no compensation, stated salary or reimbursement of expenses of Members or Managers in attending meetings of the Board or any Committee thereof.
Appears in 3 contracts
Samples: Single Member Limited Liability Company Operating Agreement, Single Member Limited Liability Company Operating Agreement, Operating Agreement
Compensation of Managers; Expenses. The Board shall have the authority to fix the compensation of Managers. [Select one] □ The Managers may be paid their expenses, if any, of attendance at meetings of the Board, which may be a fixed sum for attendance at each meeting of the Board, or a stated salary as Manager. No such payment shall preclude any Manager from serving the Company in any other capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings. □ There shall be no compensation, stated salary or reimbursement of expenses of Members or Managers in attending meetings of the Board or any Committee thereof.
Appears in 1 contract
Samples: Operating Agreement
