Common use of Corporate Aircraft Clause in Contracts

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.

Appears in 2 contracts

Samples: Employment Agreement (Russell Corp), Employment Agreement (Russell Corp)

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Corporate Aircraft. During the Term of this Agreement, the 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, aircraft shall be paid by the Executive.

Appears in 1 contract

Samples: Employment Agreement (Russell Corp)

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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 Personal use for Executive and his spouse shall be limited to seventy-five (75) on board, in flight hours per calendar year. To the extent permitted by law, Executive shall be responsible for applicable income taxes that are and other tax liabilities attributable to the Executive's ’s personal use of the aircraftaircraft calculated and determined under the method used prior to October 22, as calculated in an acceptable manner that is the most favorable to the Executive from said tax standpoint, shall be paid by the Executive2004.

Appears in 1 contract

Samples: Employment Agreement (Russell Corp)

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