Consideration and Expenses Sample Clauses
Consideration and Expenses. 2.1 During the Term of this Agreement, in consideration of the Executive’s Services hereunder, including, without limitation, service as an officer or director of the Company or of any subsidiary or affiliate thereof and as a full-time employee of Geovic Ltd., the Company shall pay the Executive according to the attached Schedule II payable monthly in arrears on the last working day of each month or as otherwise stipulated in Schedule II. All payments of consideration and expenses shall be made by direct deposit to an account in the name of Executive at a financial institution selected by Executive and located in the United States. All currency herein is expressed in US dollars.
2.2 The Company or Geovic Ltd. shall pay or reimburse to the Executive:
2.2.1 All costs reasonably and properly expended by him on behalf of the Company for performance of Services, if proper documentation of such expenses is received by the Company in accordance with the Company’s normal expense reimbursement procedures;
2.2.2 During the Term of this Agreement, the Executive shall be entitled to participate in employee benefit plans or programs, if any, to the extent that Executive is eligible to participate in such plans or programs.
2.2.3 During the Term of this Agreement, Executive shall be entitled to participate in the Company’s Employee Stock Option Plan and the Company’s Annual bonus Program for Executives, subject to recommendations of the Compensation Committee and approval by the Company’s Board,
2.2.4 Until such time as the Company may adopt a medical plan, the Company shall reimburse the Executive’s medical insurance in an amount not to exceed $700/month or actual cost to Executive, whichever is lower. Once such a plan is adopted, Executive shall be entitled to full family coverage under the plan.
Consideration and Expenses. 2.1 During the Term of this Agreement, in consideration of the Executive’s Services hereunder, including, without limitation, service as an officer or director of the Company or of any subsidiary or affiliate thereof and as a full-time employee of Geovic Ltd., the Company shall pay the Executive according to the attached Schedule II payable monthly in arrears on the last working day of each month or as otherwise stipulated in Schedule II. All payments of consideration and expenses shall be made by direct deposit to an account in the name of Executive at a financial institution selected by Executive and located in the United States. All currency herein is expressed in US dollars.
2.2 The Company or Geovic Ltd. shall pay or reimburse to the Executive:
2.2.1 All costs reasonably and properly expended by him on behalf of the Company for performance of Services, if proper documentation of such expenses is received by the Company in accordance with the Company’s normal expense reimbursement procedures;
2.2.2 During the Term of this Agreement, the Executive shall be entitled to participate in employee benefit plans or programs, if any, to the extent that Executive is eligible to participate in such plans or programs;
2.2.3 During the Term of this Agreement, Executive shall be entitled to participate in the Company’s Employee Stock Option Plan and the Company’s Annual bonus Program for Executives, subject to recommendations of the Compensation Committee and approval by the Company’s Board;
2.2.4 Until such time as the Company may adopt a medical plan, the Company shall reimburse the Executive’s medical insurance in an amount not to exceed $700/month and once such a plan is adopted, Executive shall be entitled to full family coverage under the plan; and
2.2.5 Expenses for Executive’s personal vehicle use shall be at a rate which is the greater of $0.465 per mile or the prevailing IRS mileage rate, but shall exclude the mileage associated with daily commuting. Such payments or reimbursements shall be made within seven (7) days of a request for reimbursement by the Executive together with provision by the Executive of such additional evidence and information as the Company or Geovic Ltd. shall reasonably require.
2.3 The Executive shall be entitled to take four (4) calendar weeks of paid vacation annually during the Term of this Agreement, subject to the dates being previously agreed by the Board. Executive shall not be entitled to additional compensation if he fails...
Consideration and Expenses. Employee shall perform his obligations under this Section 7 at Employer's expense, but without any additional or special compensation therefor.
Consideration and Expenses. 2.1 During the Term of this Agreement, in consideration of the Executive’s Services hereunder, including, without limitation, service as an officer or director of the Company or of any subsidiary or affiliate thereof and as a full-time employee of Geovic Ltd., the Company shall pay the Executive according to the attached Schedule II payable monthly in arrears on the last working day of each month or as otherwise stipulated in Schedule II. All payments of consideration and expenses shall be made by direct deposit to an account in the name of Executive at a financial institution selected by Executive and located in the United States. All currency herein is expressed in US dollars.
2.2 The Company or Geovic Ltd. shall pay or reimburse to the Executive:
2.2.1 All costs reasonably and properly expended by him on behalf of the Company for performance of Services, if proper documentation of such expenses is received by the Company in accordance with the Company’s normal expense reimbursement procedures;
2.2.2 During the Term of this Agreement, the Executive shall be entitled to participate in employee benefit plans or programs, if any, to the extent that Executive is eligible to participate in such plans or programs;
2.2.3 During the Term of this Agreement, Executive shall be entitled to participate in the Company’s Employee Stock Option Plan and the Company’s Annual bonus Program for Executives, subject to recommendations of the Compensation Committee and approval by the Company’s Board; and
2.2.4 Executive shall receive a vehicle allowance of $400 per month. Such payments or reimbursements shall be made within seven (7) days of a request for reimbursement by the Executive together with provision by the Executive of such additional evidence and information as the Company or Geovic Ltd. shall reasonably require.
2.3 The Company shall pay the Executive’s medical insurance through the Company’s policy.
2.4 The Executive shall be entitled to take four (4) calendar weeks of paid vacation and one (1) week of unpaid vacation annually during the Term of this Agreement, subject to the dates being previously agreed by the CEO. Executive shall not be entitled to additional compensation if he fails to use this vacation, provided that with written approval of the CEO, up to two (2) weeks of annual vacation may be carried over to a succeeding year. The Executive shall also be entitled to take paid holidays in accordance with standard Company or Geovic Ltd. policy.
2.5 Executi...
Consideration and Expenses. The Employee shall perform his obligations under this Paragraph 11 at the Company’s expense, but without any additional compensation other than that which the Employee receives by reason of his employment with the Company or pursuant to any separate agreement between the Company and the Employee or any separate policy of the Company that may be in effect from time to time during the Employment Term.
Consideration and Expenses. Executive shall perform his obligations under this Section 7 at Employer's expense, but without any additional or special compensation therefor.
Consideration and Expenses. The Executive shall perform his -------------------------- obligations under this Paragraph 14 at the Company's expense, but without any additional compensation other than that which the Executive receives by reason of his employment with the Company or pursuant to any separate agreement between the Company and the Executive or any separate policy of the Company that may be in effect from time to time during the Employment Term.
Consideration and Expenses. (A) In consideration of the performance by the Consultant of his obligations hereunder, the Consultant shall be entitled to receive from the Company during the continuance of this Agreement the sum of $500.00 per day (or such higher rate as the parties may from time to time agree) for each day the Consultant renders services to the Company.
(B) The Company shall reimburse to the Consultant all proper and reasonable out-of-pocket expenses (including, but not limited to, all traveling and accommodation expenses) for services rendered.
(C) The payments provided for in Article 4 shall be exclusive of Value Added Tax. All payments to be made pursuant to this Agreement shall be made by the Company upon receipt of an invoice from the Consultant specifying the amount payable. All other terms of the Agreement shall remain in full force and effect as originally written.
Consideration and Expenses. (A) The Company shall pay $300,000 annually (payable quarterly) for services rendered. Further, the Company shall reimburse to the Consultant all proper and reasonable out-of-pocket expenses (including, but not limited to, all travel and accommodation expenses).
(B) All payments to be made pursuant to this agreement shall be made by the Company upon receipt of an invoice from the Consultant specifying the amount payable.
Consideration and Expenses. In consideration for the assignment of the Assigned Rights, the Company shall issue to Assignors 243,516,666 shares of Company’s restricted common stock (the “Shares”), valued at $0.01 per Share, and in the proportions set forth in Exhibit A attached hereto. The Company shall also reimburse Assignors for all reasonable legal expenses incurred by Assignors in connection with this Agreement and the transactions contemplated hereby.