Common use of Compensation; Reimbursement of Expenses Clause in Contracts

Compensation; Reimbursement of Expenses. (a) Pay any salary, fees, and other direct and indirect remuneration and compensation to any of its directors and executive officers in an amount in excess of those amounts paid to directors and executive officers of comparable companies engaged in the same general type of business and in similar financial condition. (b) Reimburse any stockholder, officer, director, employee or agent of the Borrower or any Guarantor for any expenses incurred by such Person other than reasonable expenses incurred for or on behalf of the Borrower or any Guarantor in the ordinary course of business.

Appears in 5 contracts

Samples: Credit Agreement (Windmere Durable Holdings Inc), Credit Agreement (Windmere Durable Holdings Inc), Credit Agreement (Bec Group Inc)

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