Compensation; Reimbursement Sample Clauses

Compensation; Reimbursement. (a) The Employer shall pay to the Employee as compensation for all services rendered by the Employee during the term of this Agreement a basic annualized salary of $200,000 per year (the "Basic Salary"), or such other amount as the parties may agree on from time to time, payable in equal monthly installments or in other more frequent installments, as determined by the Employer. The Board of Directors of the Employer shall have the right to increase the Employee's compensation from time to time by action of the Board of Directors. In addition, the Board of Directors of the Employer, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to the Employee in addition to the bonuses provided for in Section 3(b). The compensation provided for in this Section 3(a) shall be in addition to any pension or profit sharing payments set aside or allocated for the benefit of the Employee. (b) In addition to the Basic Salary paid pursuant to Section 3(a), the Employer may pay as incentive compensation an annual bonus based upon the Employee's performance, as determined each year by the Board of Directors of the Employer. (c) The Employer shall reimburse the Employee for all reasonable expenses incurred by the Employee in the performance of his duties under this Agreement; provided, however, that the Employee must furnish to the Employer an itemized account, satisfactory to the Employer, in substantiation of such expenditures. (d) The Employee shall be entitled to continue the use of his current corporate vehicle and such fringe benefits, including, but not limited to, medical and insurance benefits, as may be provided from time to time by the Employer to other senior officers of the Employer. (e) As soon as possible after the effective date of this Agreement, the Employer shall adopt a restricted stock award plan pursuant to which stock awards will be granted for a total of 24,040 shares of the Employer's Common Stock, or approximately 7.5 percent of the Employer's shares outstanding on the date hereof, on a fully diluted basis. Restricted stock issued pursuant to such awards shall be subject to a restriction that the first $38 of distributions, whether dividends, upon liquidation, or otherwise shall be withheld by the Employer and distributed to the other holders of Employer's Common Stock. Such awards shall vest evenly on a monthly basis over three years (1/36 per month) beginning on the effective date of a Successful Recapital...

Compensation; Reimbursement. At the closing of the Offering (“Closing”), the Company shall compensate W▇▇▇▇▇▇▇▇▇ as follows:

Compensation; Reimbursement. Employer shall pay employee and employee agrees to accept from employer, in full payment for employee's services hereunder, compensation at the rate of (16) Dollars ($ ) per annum, payable (17) . In addition to the foregoing, employer will reimburse employee for any and all necessary, customary, and usual expenses incurred by him while traveling for and on behalf of the employer pursuant to employer's directions.

Compensation; Reimbursement. During the Term, the Company shall pay or provide to the Executive, in full satisfaction for his services provided hereunder, the following:

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One Hundred Forty-Seven Thousand Dollars ($147,000), payable in bi-monthly installments. The Base Salary shall be reviewed annually and be subject to increase at the option and in the sole discretion of the President and CEO and Board of Directors of the Corporation. (b) During the Term of Employment, on an annual basis, Employee may be entitled to a bonus and stock option grants as determined by the President and CEO and Board of Directors of the Corporation based on Employee's performance. There will be no guaranteed or minimum bonus or a stock option grant and the bonus and stock option grant, if any, will be within the sole discretion of the President and CEO and the Board of Directors. (c) During the Term of Employment, the Employee shall be entitled to family medical and dental insurance coverage (the cost of which shall be paid by the Corporation) short and long term disability coverage, eligibility for participation in the Corporation's 401K plan and to such other fringe benefits as are made available from time to time to the executives of the Corporation, including four (4) weeks vacation. (d) The Corporation shall reimburse Employee, in accordance with its practice from time to time for other employees of the Corporation, for all reasonable and necessary travel expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers.

Compensation; Reimbursement. (a) In consideration for the Services to be performed hereunder by ▇▇▇▇, Client shall pay PINE the fees listed in Appendix B attached hereto within thirty (30) days after the date of Client’s receipt of an invoice, which shall be paid by Client monthly in advance of services rendered. Client understands and agrees that to the extent, subsequent to the execution of this Agreement, Client hires either internal or external resources to provide services duplicative of those listed in Appendix A hereto, such activity will in no way: (i) excuse any payment obligation of Client for fees due under this Agreement as detailed in Appendix B hereto, or (ii) affect in any way the terms of this Agreement unless this Agreement is terminated prior to the expiration of the Term in accordance with Section 12 below. (b) During the Term, Client shall reimburse PINE for all reasonable and necessary travel and lodging expenses and other out-of-pocket expenses incurred by PINE in connection with the performance of the duties of the CCO and/or PFO hereunder upon presentation of appropriate receipts and other reasonable documentation as the Client may request. (c) To the extent that Appendix B sets forth escalating fees by year, ▇▇▇▇’s fees will increase to the rates set forth on Appendix B for the applicable year effective as of January 1st of the stated year. On January 1st of each year subsequent to the year period(s) set forth on Appendix B (as applicable, the “Fee Adjustment Date”), the fees in effect for the previous calendar year shall be increased by an amount equal to the percentage increase in the US Consumer Price Index – All Urban Consumers – U.S. City Average – All Items compiled by the US Bureau of Labor Statistics (“CPI-U”), as published thirty (30) days prior to the Fee Adjustment Date, for the preceding twelve (12) month period. In the absence of CPI-U being published, the Parties shall agree in writing to use another index that most closely resembles CPI-U.

Compensation; Reimbursement. At the closing of each Offering (each, a “Closing”), the Company shall compensate ▇▇▇▇▇▇▇▇▇▇ as follows:

Compensation; Reimbursement. Each Fund shall compensate JCM for the services it provides pursuant to this Agreement and/or shall reimburse JCM for the reasonable costs incurred by JCM, its officers, employees and delegates, in providing services pursuant to this Agreement. Compensation and/or reimbursement to be provided to JCM is limited to that set forth on Schedule B. Such compensation/reimbursement shall be paid monthly unless otherwise reflected on Schedule B. Nothing in this Agreement shall obligate JCM to pay for the services of third parties, including but not limited to, attorneys, auditors, printers, pricing services, third party administrators, or others, engaged directly by the Trust and/or a Fund to perform services on behalf of the Trust or a Fund. However, JCM or its affiliates may make payments to such third parties on behalf of the Trust and/or a Fund and subsequently seek reimbursement of such payments from the Trust and/or the Fund. Such reimbursement shall be paid on a monthly basis, or at such time as the parties may agree. To the extent JCM contracts with others to provide the services it is obligated to provide pursuant to this Agreement, fees paid to the third party shall be borne by JCM, unless the Board of Trustees of the Trust agrees that the Trust and/or a Fund shall pay such fees. From time to time, JCM may waive all or a portion of its compensation or determine not to seek reimbursement of its costs or payments it is obligated to pay to others as provided for hereunder, or the Board of Trustees may request such a waiver of compensation or reimbursement. JCM shall pay all expenses resulting from regulatory or legal changes impacting the services to be provided to the Trust and/or a Fund pursuant to this Agreement, but such expenses may be paid by the Trust and/or the Fund if such payments are expressly approved by the Board of Trustees of the Trust. The Trust and/or a Fund may be obligated to pay other costs and expenses pursuant to other agreements between the Trust and/or a Fund and JCM, or as otherwise approved by the Trust’s Board of Trustees.

Compensation; Reimbursement. The Managers may not receive compensation for their services; however, the Company may reimburse the Managers for all direct out-of-pocket expenses incurred by them in managing the Company.