Corporate Aircraft. Employee shall have the right to the personal use of Employer's aircraft by Employee and his family. Employer and Employee shall enter into a separate time-sharing agreement for such personal use, which agreement shall provide, among other things, that Employee shall pay Employer the lesser of Employee's and his family's share of the direct costs incurred by Employer in operating the aircraft or the amount required by applicable federal aviation regulations to be paid by Employee.
Corporate Aircraft. Subject to the needs of the business, the Key ------------------ Executive shall be entitled to personal use of corporate aircraft for three trips per year without geographic restriction, and unlimited reasonable personal use of corporate aircraft within the Xxxx Atlantic footprint. The Key Executive shall be responsible for the payment of taxes on imputed income attributable to personal use of corporate aircraft, except that, whenever the Key Executive uses corporate aircraft for business purposes and is accompanied by an immediate family member whose use of corporate aircraft results in the imputation of income to the Key Executive, the Company shall pay the Key Executive additional cash compensation in an amount sufficient to allow the Key Executive to pay taxes on (i) such additional compensation, plus (ii) the income imputed to the Key Executive because of such family member's use of corporate aircraft.
Corporate Aircraft. During the Term of this Agreement, the Executive shall have the use of corporate aircraft for his business and personal transportation at his discretion and at no cost to him, including reasonable access for his spouse. Applicable income taxes that are attributable to the Executive's personal use of the aircraft, as calculated in an acceptable manner that is the most favorable to the Executive from said tax standpoint, shall be paid by the Executive.
Corporate Aircraft. For security purposes, the Executive and his family members shall be required to use the Company's or other acceptable private aircraft for any travel; provided that in connection with any use which is solely for personal non-business reasons, the Executive shall reimburse the Company at swap rates charged to owners of airplanes, which rates are set by an independent management company.
Corporate Aircraft. Executive (and Executive’s spouse when she accompanies him) shall be entitled to use the Company aircraft for business travel when it is available, and for occasional use for personal travel in accordance with policies established from time to time by the Board when the aircraft is not scheduled for use for business purposes. The Company shall impute income to Executive for personal use of Company aircraft as required by applicable law.
Corporate Aircraft. The current Board will consider and pass, if a majority of the Board so approves, a motion to proceed with the prompt sale of the Company’s corporate aircraft with the proceeds from such sale to be applied either (a) to invest in an internal project or investment with a projected 15%+ projected rate of return on capital investment, (b) to repurchase Company stock or (c) to pay a special dividend. If such aircraft is sold, the Board may determine to charter equivalent aircraft as needed to keep customer service at the same level.
Corporate Aircraft. Executive and his immediate family shall be entitled to use Company aircraft for all business and reasonable personal travel, except that Executive shall use commercial aircraft (first class for international flights and domestic flights in excess of 2 hours; business class for all other flights) where use of Company aircraft is not practical. Executive shall be responsible for the payment of taxes on imputed income attributable to personal use of Company aircraft, except that, whenever Executive uses Company aircraft for business purposes and is accompanied by an immediate family member whose use of Company aircraft results in the imputation of income to Executive, the Company shall pay Executive additional cash compensation in an amount sufficient to allow Executive to pay taxes on (i) such additional compensation, plus (ii) the income imputed to Executive because of such family member's use of Company aircraft.
Corporate Aircraft. Executive shall be entitled to use of the corporate aircraft in accordance with the Aircraft Time Sharing Agreement, dated November 24, 2014, between Executive and the Company.
Corporate Aircraft. Executive and his immediate family shall be entitled to use Company aircraft for all business and reasonable personal travel, except that (i) Executive shall reimburse the Company for all personal travel in amounts determined in accordance with Company policy; and (ii) Executive shall use commercial aircraft (first class for international flights and domestic flights in excess of 2 hours; business class for all other flights) where use of Company aircraft is not practical. If any use of Company aircraft by Executive or his family members results in imputed income to Executive, Executive shall be responsible for the payment of taxes on such imputed income.
Corporate Aircraft. Subject to availability during the Active Employment Term and the Consulting Term, you may utilize the Company's corporate aircraft for all Company business travel and for up to 70 hours of personal travel per year, with priority rules for access to the aircraft similar to the access afforded to the previous CEO of the Company.
